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Home / Business News / Sensex tumbles 285 points on F&O expiry, Nifty closes near 12000 mark

Sensex tumbles 285 points on F&O expiry, Nifty closes near 12000 mark

After swinging over 550 points during the day, the 30-share BSE index settled at 40,913.82. the broader NSE Nifty closed 93.70 points down at 12,035.80.

business Updated: Jan 30, 2020 16:15 IST
Press Trust of India
Press Trust of India
Mumbai
Reliance Industries was the biggest loser in the Sensex pack, falling 2.62 per cent, followed by Nestle India, IndusInd Bank, UltraTech Cement, M&M and SBI.
Reliance Industries was the biggest loser in the Sensex pack, falling 2.62 per cent, followed by Nestle India, IndusInd Bank, UltraTech Cement, M&M and SBI.(PTI)

Market benchmark Sensex tumbled 285 points on Thursday, weighed by heavy selling in Reliance Industries, HDFC Bank and Infosys as January derivatives contracts expired.

After swinging over 550 points during the day, the 30-share BSE index settled 284.84 points, or 0.69 per cent, lower at 40,913.82. It hit an intra-day low of 40,829.91 and a high of 41,380.14.

Likewise, the broader NSE Nifty closed 93.70 points, or 0.77 per cent, down at 12,035.80.

Reliance Industries was the biggest loser in the Sensex pack, falling 2.62 per cent, followed by Nestle India, IndusInd Bank, UltraTech Cement, M&M and SBI.

On the other hand, Bajaj Auto, PowerGrid, ICICI Bank, Asian Paints, NTPC, HDFC, L&T and Maruti ended with gains.

According to analysts, benchmark indices turned highly volatile ahead of the expiry of January futures and options (F&O) contracts.

During afternoon session, markets continued to trade lower led by selling in large-cap stocks which added to the already skittish sentiment ahead of the Budget, they said.

Further, weakness in other Asian bourses as rising concerns over the impact of China’s coronavirus on the world economy also affected domestic market, traders said.

Bourses in Hong Kong, Japan and South Korea ended with steep losses. Bourses in China remained closed.

Stock exchanges in Europe too opened on a negative note.

Brent crude oil futures fell 1.63 per cent to USD 57.97 per barrel.

On the currency front, the Indian rupee depreciated by 23 paise to 71.51 per US dollar (intra-day).