Sensex sheds 173 pts; Nifty slips below 11,700

Sensex sheds 173 pts amid F&O expiry; Nifty slips below 11,700

Lacklustre cues from global markets also kept domestic investors on the edge, traders said

Representative image: PTI Photo

Equity benchmark Sensex tumbled 173 points on Thursday, tracking losses in index majors HDFC twins, L&T and HUL as volatility persisted amid expiry of month derivatives contracts.

Lacklustre cues from global markets also kept domestic investors on the edge, traders said.

The 30-share BSE Sensex ended 172.61 points or 0.43 per cent lower at 39,749.85. The broader NSE Nifty fell 58.80 points or 0.50 per cent to 11,670.80.

L&T was the top laggard in the Sensex pack, dropping around 5 per cent, followed by Titan, ONGC, Axis Bank, HUL, M&M and HDFC.

On the other hand, Asian Paints, UltraTech Cement, HCL Tech, Kotak Bank and Reliance Industries were among the gainers.

According to traders, market volatility was heightened as October futures and options contracts expired.

The Indian market opened on a subdued note following mixed global cues as coronavirus cases in the Europe surged and several countries considered re-imposing strict lockdown measures, said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers.

During the afternoon session, the markets continued to trade weak with selloff in metals, auto, realty and financial stocks, he added.

Bourses in Hong Kong, Seoul and Tokyo ended on a negative note, while Shanghai was in the positive territory.

Equities in Europe were trading higher in early deals.

Meanwhile, international oil benchmark Brent crude was trading 3.15 per cent lower at USD 38.39 per barrel.

In the forex market, the rupee continued its downward journey, sliding another 23 paise to close at 74.10 against the US dollar.