Sensex drops 106 points on weak global cues; bank stocks fall
Breaking its fourday rising spree, the BSE Sensex ended over 100 points lower on Thursday on selling in banking shares amid negative cues from other Asian markets
The broader NSE Nifty fell 33.55 points, or 0.31 per cent, to finish at 10,821.60.
Mumbai: Breaking its four-day rising spree, the BSE Sensex ended over 100 points lower on Thursday on selling in banking shares amid negative cues from other Asian markets.
After a volatile session, the 30-share index settled 106.41 points, or 0.29 per cent, down at 36,106.50, while the broader NSE Nifty fell 33.55 points, or 0.31 per cent, to finish at 10,821.60.
The fall was led by banking stocks, with IndusInd Bank, Kotak Bank, Federal Bank, Axis Bank, ICICI Bank, HDFC Bank and SBI declining up to 2.36 per cent . Other losers included ONGC, Maruti Suzuki, Sun Pharma, HDFC, Hero MotoCorp, ITC and HCL Tech, falling up to 1.31 per cent.
Shares of TCS ended 0.25 per cent lower at Rs 1,883 apiece ahead of its quarterly earnings. On the other hand, Tata Motors, NTPC, Infosys, Yes Bank, M&M, L&T, Bharti Airtel, and HUL were the top gainers, rising up to 1.34 per cent.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net of Rs 276.14 crore on Wednesday and domestic institutional investors (DIIs) were net buyers to the tune of Rs 439.67 crore, provisional data available with BSE showed.
On the macro front, the rupee depreciated 10 paise to 70.56 against the US dollar. Brent crude futures were trading 1.27 per cent lower at USD 60.66 per barrel.
Elsewhere in Asia, Korea's Kospi fell 0.06 per cent, Japan's Nikkei dropped 1.29 per cent, and Shanghai Composite Index slipped 0.36 per cent, while Hong Kong's Hang Seng rose 0.22 per cent.
In Europe, Frankfurt's DAX was down 0.51 per cent, Paris CAC 40 fell 0.82 per cent, and London's FTSE shed 0.29 per cent.