Sensex ends 82 points lower, Nifty slips below 11,800-mark; Sun Pharma, HCL Tech, RIL among top losers

Benchmark Sensex ended 82 points lower after a highly volatile session on Tuesday, extending losses for a third day, as investors continued to weigh the financial impact of the coronavirus pandemic on the global economy

Press Trust of India February 25, 2020 16:31:01 IST
Sensex ends 82 points lower, Nifty slips below 11,800-mark; Sun Pharma, HCL Tech, RIL among top losers
  • After oscillating over 300 points during the day, the 30-share BSE gauge finally settled 82.03 points, or 0.20 percent, lower at 40,281.20

  • Similarly, the broader NSE Nifty declined 31.50 points or 0.27 percent to 11,797.90

  • According to traders, global equity markets were still unnerved by the spread of coronavirus to countries beyond China

Mumbai: Indian equities closed in the red for a third straight session on Tuesday as the coronavirus spread outside China continued to hurt investors' risk appetite.

A day after taking a massive plunge due to concerns over Mauritius being added to the "grey list" of Financial Action Task Force (FATF), the market steadied in the opening deals on Tuesday, with regulator SEBI saying that foreign investors from the island nation will continue to be eligible for FPI registration.

Starting off higher in opening trade, the BSE benchmark Sensex went through bouts of volatility during the session, before settling at 82.03 points, or 0.20 percent, lower at 40,281.20.

Similarly, the broader NSE Nifty declined 31.50 points or 0.27 percent to end at 11,797.90.

On the Sensex chart, Sun Pharma was the top loser, shedding 2.37 percent, followed by HCL Tech, Reliance Industries, IndusInd Bank and L&T.

On the other hand, TCS settled 1.98 percent higher. Tata Steel, Bharti Airtel, SBI and HUL too featured among the gainers.

Sectorally, BSE energy, oil and gas, healthcare, consumer durables, industrials, auto and capital goods indices fell up to 1.64 percent, while realty, telecom, teck and metal indices ended with gains.

In the broader market, BSE midcap and smallcap indices fell up to 0.45 percent.

Investors across the globe are worried over the long-term impact of the deadly coronavirus on the global growth.

Sensex ends 82 points lower Nifty slips below 11800mark Sun Pharma HCL Tech RIL among top losers

Representational image. Reuters.

A viral outbreak that began in China has infected more than 80,000 people globally.

In the domestic market, investors also weighed the repercussions of Mauritius being added to the "grey list" of Financial Action Task Force (FATF) -- an inter-governmental policy making body that sets anti-money laundering standards.

A significant percentage of foreign portfolio investors (FPIs) investing in the Indian market is registered in Mauritius.

The island nation is the second largest source after the United States from which foreign portfolio investments come into the country.

Market regulator SEBI on Tuesday said foreign investors from Mauritius will continue to be eligible for FPI registration with increased monitoring as per international norms.

Market participants are also keenly assessing the outcomes from US President Donald Trump's India visit.

India and the US on Tuesday finalised defence deals worth $3 billion, and signed three MoUs, including one in energy sector, as Prime Minister Narendra Modi asserted that the two countries have decided to take Indo-US ties to comprehensive global partnership level.

"Markets steadied after a steep sell-off yesterday as investors assessed the economic impact of coronavirus which has spread to other nations. Trump-Modi meet failed to provide any sentiment boost for the domestic market as there were no key deals. Virus concerns could remain in the limelight as any further supply disruption could hurt global economic growth in 2020," Vinod Nair, Head of Research at Geojit Financial Services, said.

On a net basis, FPIs sold equities worth Rs 1,160.90 crore on Monday, data available with stock exchanges showed.

Bourses in Shanghai and Tokyo ended in the red, while Seoul and Hong Kong settled with gains.

Stock exchanges in Europe were trading on a negative note in their morning sessions.

Brent crude oil futures slipped 0.16 percent to $55.68 per barrel.

On the currency front, the Indian rupee appreciated by 9 paise to 71.86 per US dollar.

Updated Date:

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