Rediff.com  » Business » Sensex ends 82 pts lower; Nifty slips below 11,800

Sensex ends 82 pts lower; Nifty slips below 11,800

Source: PTI  -  Edited By: Nandita Malik
February 25, 2020 16:44 IST
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Sun Pharma was the top loser in the Sensex pack, shedding 2.37 per cent, followed by HCL Tech, Reliance Industries, IndusInd Bank and L&T.

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Illustration: Uttam Ghosh/Rediff.com

Benchmark Sensex ended 82 points lower after a highly volatile session on Tuesday, extending losses for a third day, as investors continued to weigh the financial impact of the coronavirus pandemic on the global economy.

A day after a steep fall due to concerns over Mauritius being added to the "grey list" of Financial Action Task Force (FATF), Indian equities steadied in the opening deals on Tuesday, with regulator Sebi saying that foreign investors from the island nation will continue to be eligible for FPI registration.

 

After oscillating over 300 points during the day, the 30-share BSE gauge finally settled 82.03 points, or 0.20 per cent, lower at 40,281.20.

Similarly, the broader NSE Nifty declined 31.50 points or 0.27 per cent to 11,797.90.

Sun Pharma was the top loser in the Sensex pack, shedding 2.37 per cent, followed by HCL Tech, Reliance Industries, IndusInd Bank and L&T.

On the other hand, TCS settled 1.98 per cent higher. Tata Steel, Bharti Airtel, SBI and HUL too finished with gains.

According to traders, global equity markets were still unnerved by the spread of coronavirus to countries beyond China.

Investors on Dalal Street also weighed the repercussions of Mauritius being added to the "grey list" of Financial Action Task Force (FATF), they said.

Market regulator Sebi on Tuesday said foreign investors from Mauritius will continue to be eligible for FPI registration with increased monitoring as per international norms.

On a net basis, FPIs sold equities worth Rs 1,160.90 crore on Monday, data available with stock exchanges showed.

Bourses in Shanghai and Tokyo ended in the red, while Seoul and Hong Kong settled with gains.

Stock exchanges in Europe were trading on a negative note in their morning sessions.

Brent crude oil futures slipped 0.16 per cent to $55.68 per barrel.

Experts said, the growing risk aversion is clearly visible in the sudden spike in safe heaven asset like gold prices seen lately.

In addition, the expiry weak and the fiscal year-end pressure is adding to near-term volatility.

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Source: PTI  -  Edited By: Nandita Malik© Copyright 2020 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
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