Mumbai, Jan 30 (PTI) Benchmarks buckled under heavy Also Read - Amazon 'Apple Days' Sales Offer Deals on iPhone 12 Mini, Others | Details Here
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The BSE Sensex sank about 250 points to end at 36,033.73,
while the broader NSE Nifty dropped 80 points to 11,049.65.
Brokers said investors took money off the table and held
back fresh bets ahead of the Union Budget on February 1.
Market sentiment was also impacted as other Asian markets
retreated from record highs, tracking overnight meltdown at
the Wall Street after a sell-off in Apple shares.
Investors were also cautious ahead of the US Federal
Reserve’s two-day monetary policy meeting beginning today.
The 30-share Sensex, after opening a shade lower at
36,277.12, continued its slide to crack the 36,000-mark and
hit a low of 35,993.41 during the day. It finally settled at
36,033.73, down 249.52 points, or 0.69 per cent.
The index had gained 232.81 points yesterday and closed
at a record high of 36,283.25.
The Nifty too closed lower by 80.75 points, or 0.73 per
cent, at 11,049.65 after hitting a low of 11,033.90.
It had ended at a lifetime high of 11,130.40 yesterday.
“Market slid followed by weaknesses in global markets
while investors are likely to utilise the correction as
improving domestic macros coupled with earnings growth will
benefit in the long run.
“The upcoming US Fed policy and India budget will remain
the near term catalyst,” said Vinod Nair, Head of Research,
Geojit Financial Services.
Meanwhile, foreign portfolio investors (FPIs) bought
shares worth Rs 291.86 crore on net basis while domestic
institutional investors (DIIs) also picked up equities to the
tune of Rs 90.08 crore yesterday, provisional data showed.
Asian Paints was the worst performer among the Sensex
components by falling 2.22 per cent, followed by Kotak
Mahindra Bank at 2.20 per cent.
Other laggards were Axis Bank, Dr Reddy’s, Adani Ports,
Reliance Industries, Wipro, ICICI Bank, TCS, Yes Bank, HDFC
Ltd, Infosys, Tata Steel, Tata Motors, Maruti Suzuki, NTPC,
ONGC, Bajaj Auto, Bharti Airtel, ITC and HDFC Bank.
Bucking the trend, Coal India, Hero MotoCorp, Sun Pharma,
SBI, IndusInd Bank, HUL and Power Grid finished with gains of
up to 1.71 per cent.
Reliance Communications soared 10.46 per cent after the
company reported narrowing of consolidated loss to Rs 130
crore for the quarter ended December 2017.
Sector-wise, the BSE consumer durables index was the
weakest of the lost, dropping 1.74 per cent, followed by
IT 1.07 per cent, teck 1.02 per cent, bankex 0.85 per cent,
realty 0.80 per cent, metal 0.63 per cent, healthcare 0.61 per
cent, infrastructure 0.56 per cent, auto 0.48 per cent,
capital goods 0.36 per cent and FMCG 0.33 per cent.
Oil & gas and PSU indices managed to close in the green.
The broader markets continued to face selling pressure,
which pulled down the small-cap index by 1.34 per cent and
mid-cap by 0.67 per cent.
Overseas, European stocks were trading lower following
sharp losses in Asian bourses and on Wall Street. Key indices
like Frankfurt’s DAX was down by 0.35 per cent, while Paris
CAC 40 shed 0.19 per cent in their late morning deals.
London’s FTSE fell 0.42 per cent.
In Asia, Japan’s Nikkei fell 1.43 per cent and Hong
Kong’s Hang Seng slipped 1.09 per cent, while Shanghai
Composite Index dropped 0.99 per cent.
This is published unedited from the PTI feed.