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Market Wrap: Sensex Slips 82 Points, Nifty Below 11,800

Closing Bell: Sensex Slips 82 Points, Nifty Below 11,800

News Nation Bureau | Edited By : Assem Sharma | Updated on: 25 Feb 2020, 04:40:41 PM
sensex

Sensex slips 82 points, Nifty below 11,800 (Photo Credit: file photo )

New Delhi :

Benchmark Sensex ended 82 points lower after a highly volatile session on Tuesday, extending losses for a third day. After swinging 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 packincludes 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 USD 55.68 per barrel. On the currency front, the Indian rupee appreciated 9 paise to 71.86 per US dollar (intra-day). 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. Market participants were also eyeing cues from US President Donald Trump’s two-day visit to India, which will end later in the day.

Gold tumbles Rs 954 on strong rupee, global cues

Gold prices on Tuesday tumbled by Rs 954 to Rs 43,549 per 10 gram in the national capital on stronger rupee and selling in global market, according to HDFC Securities. The yellow metal had closed at Rs 44,503 per 10 gram in the previous trading session. Silver prices also fell by Rs 80 to Rs 49,990 per kg from Rs 50,070 per kg on Monday.

The price of 999 and 995 purity gold in Delhi was trading lower by Rs 770 at Rs 44,030 per 10 gram and Rs 43,880 per 10 gram, respectively as per TickerPlant. “Gold prices pared previous gains with international spot gold prices witnessing correction on Tuesday, falling below USD 1,650. Spot gold for 24 karat in Delhi declined by Rs 954 on broad selling in global prices and stronger rupee,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The spot rupee was trading around 16 paise stronger against the dollar during the day, he said. The Indian rupee appreciated by 18 paise to 71.80 against the US dollar in early trade on Tuesday tracking gains in domestic equity market and weakening of the American currency in the overseas market. In the international market, both gold and silver were trading lower at USD 1,648 per ounce and USD 18.40 per ounce, respectively. “The worries over spreading coronavirus may limit downside in gold prices,” Patel added.

(With inputs from PTI)

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First Published : 25 Feb 2020, 03:49:41 PM