Twitter
Advertisement

Sensex slips 124 pts ahead of F&O expiry

The June contracts are set to expire tomorrow in the backdrop of nearing GST rollout date on July 1 and lacklustre global cues

Latest News
article-main
FacebookTwitterWhatsappLinkedin

Indian markets ended with losses for the third day on Wednesday on the back of selling activity by investors ahead of the expiry of June derivatives. While the BSE Sensex moved down 123.93 points, or 0.40%, to close at 30834.32, Nifty recoiled below 9500 level ending at 9491.25, after falling 20.15 points, or 0.21%.

The June contracts are set to expire tomorrow in the backdrop of nearing GST rollout date on July 1 and lacklustre global cues.

Banks' non-performing asset (NPA) headache and uncertainties surrounding the goods and services tax (GST) led losses. Weakness in the rupee and muted global pointers did not help things either.

RIL fell 2.60%, Asian Paints dropped 2.12%, HDFC Ltd declined 1.38%,while ONGC ended down 1.13%. Among other laggards stood ITC, Mahindra and Mahindra, Adani Ports, Hindustan Unilever, HeroMotocorp and Infosys.

Banking stocks continued to face selling pressure for the second straight session as the Reserve Bank of India asked banks to go for higher provisioning for those stressed loans referred to the insolvency court.

A weak trend on other Asian bourses following overnight losses in US markets dampened sentiment too. Hong Kong's Hang Seng was down 0.58% while Shanghai Composite edged lower 0.13% in early trade. Japan's Nikkei slumped 0.29%. The US Dow Jones Industrial Average finished 0.46% lower on Tuesday.

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement