Sensex tanks 383 points on F&O expiry, Nifty ends below 11,000-mark; Yes Bank, SBI, HDFC among top losers

Benchmark BSE Sensex slumped 383 points on Thursday, dragged by a sell-off in financial stocks, as August series derivatives expired amid tepid global cues

Press Trust of India August 29, 2019 17:51:04 IST
Sensex tanks 383 points on F&O expiry, Nifty ends below 11,000-mark; Yes Bank, SBI, HDFC among top losers
  • After a highly volatile session, the 30-share Sensex ended 382.91 points, or 1.02 percent, lower at 37,068.93

  • It hit an intra-day low of 36,987.35

  • Similarly, the broader NSE Nifty shed 97.80 points, or 0.89 percent, to finish at 10,948.30

Mumbai: Benchmark indices nursed losses for the second straight session on Thursday, dragged by heavy selling in banking and financial stocks, as August series derivatives expired amid tepid global cues.

After a highly volatile session, the 30-share BSE Sensex ended 382.91 points, or 1.02 percent, lower at 37,068.93.

Similarly, the broader NSE Nifty shed 97.80 points, or 0.89 percent, to finish at 10,948.30.

Most Asian markets ended in the red amid reports that the US and China are preparing for their next round of trade negotiations in September, while European equities opened in the positive territory.

Top laggards among the Sensex pack included Yes Bank, SBI, HDFC, Axis Bank, Kotak Bank, ITC, RIL, M&M, Tata Motors and ICICI Bank, losing up to 3.61 percent.

Sensex tanks 383 points on FO expiry Nifty ends below 11000mark Yes Bank SBI HDFC among top losers

Representational image. Reuters.

On the other hand, Sun Pharma, Vedanta, NTPC, ONGC, Asian Paints, Infosys and HUL were the top gainers, spurting up to 5.31 percent.

Besides continued concerns over an impending global recession, the domestic market witnessed high volatility on the back of weekly and monthly expiration of the August futures and options (F&O) contracts, experts said.

"Further policy measures awaited are expected to bring some clarity over the market trend, however for the time being it's better to focus on to defensive segments like IT and pharma stocks," said Vinod Nair, Head of Research, Geojit Financial Services.

Sectorally, BSE bankex, finance, energy, auto, FMCG and industrials indices fell up to 1.92 percent.

Healthcare, metal, realty, power, oil and gas, utilities and telecom climbed up to 1.50 percent.

The broader BSE midcap and smallcap indices too fell up to 0.62 percent.

Elsewhere in Asia, Hang Seng, Kospi and Nikkei settled on a negative note, while the Shanghai Composite Index ended in the green.

Equities in Europe were trading significantly higher in their respective early sessions.

Meanwhile, the Indian rupee appreciated marginally to 71.73 against the US dollar intra-day.

Brent crude futures, the global oil benchmark, slipped 0.03 percent to $59.91 per barrel.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Samsung Galaxy F41 with 64 MP triple rear cameras, Exynos 9611 SoC expected to debut soon in India
News & Analysis

Samsung Galaxy F41 with 64 MP triple rear cameras, Exynos 9611 SoC expected to debut soon in India

A report reveals that Samsung's F series smartphones are likely to be priced in the range of Rs 15,000- 20,000.

Formula 1 2020: Red Bull's Max Verstappen says he 'did not expect' to secure second spot in Russian Grand Prix grid
Sports

Formula 1 2020: Red Bull's Max Verstappen says he 'did not expect' to secure second spot in Russian Grand Prix grid

Verstappen added that he felt he has a good chance to attack six-time champion Hamilton at the start and to take advantage of his different tyre strategy.

Formula 1 2020: Sergio Perez resolves differences with Racing Point, says team is like a ‘family’ to him
Sports

Formula 1 2020: Sergio Perez resolves differences with Racing Point, says team is like a ‘family’ to him

The Mexican driver said he had discussed his comments the previous day with the team and that the two sides had resolved their differences.