Saturday, 19 January, 2019

Market Falls For 2nd Day; Sensex Tumbles Ahead Of F&O Expiry

BSE Sensex opens higher on Wednesday Market Falls For 2nd Day; Sensex Tumbles Ahead Of F&O Expiry
Nellie Chapman | 25 May, 2017, 07:14

The Indian equity markets were on Tuesday pulled lower as a weak rupee coupled with caution ahead of derivatives expiry and heavy selling pressure witnessed in healthcare stocks suppressed investors' sentiments.

The benchmark BSE Sensex recovered about 121 points and NSE Nifty was higher by 22.35 points or 0.24% to quote at 9,408.50.

The BSE market breadth was bearish - with 1,750 declines and 741 advances. "Broadly, the Indian market is gaining on optimism from strong quarterly results, especially from Tata Motors", Shah added. "The statement suggests an escalation in tensions along the LoC, where a cease-fire has often been violated". While Moody's sovereign credit downgrade of China stoked fears about the lingering impact of the global slowdown, Tuesday's concert attack in the United Kingdom kept sentiment cloudy. "Major Asian markets ended on a positive note, barring the Jakarta index, while European indices like CAC 40 and DAX traded lower". The mid-cap index has plunged over 8 per cent and the small-cap index has tanked over 7 per cent in last six sessions.

On the currency front, the rupee strengthened by 15-16 paise to 64.73-74 per United States dollar from its previous close of 64.89. "Banking stocks traded with mixed sentiments on short covering", Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

"Most pharma sector stocks traded down, led by Lupin, Wockpharma and Auro Pharma".

Hong Kong's Hang Seng fell 0.04 per cent.

Sectorwise, all the sub-indices of the BSE closed in the red, except the automobile index, which rose by 97.75 points.

On the other hand, Tata Motors (2.31%), GAIL (India) (1.20%), Hindustan Unilever (0.85%), Adani Ports and Special Economic Zone (0.81%), Housing Development Finance Corporation (0.71%), and Tata Consultancy Services (0.64%) were the major gainers in the Sensex.