Sensex dropped 173 points between F&O expiry; Nifty slips below 11,700 – Business News

Sensex dropped 173 points between F&O expiry; Nifty slips below 11,700 – Business News

The equity benchmark Sensex plunged 173 points on Thursday, tracking losses in the index’s large amounts of HDFC twins, L&T and HUL as volatility persists between the expiration of monthly derivative contracts.

Traders said LeCluster signals from global markets also kept domestic investors on edge.

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

L&T topped the Sensex pack, which was around 5 percent, 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 beneficiaries.

According to traders, market fluctuations had increased with the October futures and options contracts expiring.

Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares and Stock Brokers, said that the Indian market opened after mixed global cues to cases of coronovirus in Europe and many countries considered implementing strict lockdown measures. did.

He said during the afternoon session, the market remained weak with selling in metals, auto, realty and financial stocks.

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

Equities in Europe were more traded in early deals.

Meanwhile, international oil benchmark Brent crude was trading 3.15 percent down at US $ 38.39 a barrel.

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

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