Closing Bell: Sensex Drops 76 Points To Settle At 40,575, Nifty Ends Near 12,000

Market benchmark Sensex settled 76 points lower on Thursday, tracking weak cues from global equities as US-China impasse continued to weigh on investor sentiment. After trading on a choppy note through the day, the 30-share index ended 76.47 points, or 0.19 per cent, lower at 40,575.17.

It hit an intra-day low of 40,534.12 and a high of 40,744.85. Similarly, the broader NSE Nifty closed 30.70 points, or 0.26 per cent, down at 11,968.40. Tata Steel was the top loser in the Sensex pack, dropping 3.35 per cent, followed by Bharti Airtel down 2.52 per cent, Yes Bank 2.43 per cent, ONGC 1.98 per cent and ITC 1.96 per cent.

On the other hand, HUL gained 1.15 per cent, L&T 0.89 per cent, Bajaj Auto 0.82 per cent and SBI 0.81 per cent. In the early trade, the 30-share index turned negative to trade 41.31 points, or 0.10 per cent, lower at 40,610.33.

Also, the broader Nifty slipped 17.75 points, or 0.15 per cent, to 11,981.35. On Wednesday, the Sensex ended 181.94 points, or 0.45 per cent, higher at 40,651.64, while the Nifty closed a tad below the crucial 12,000-mark, advancing 59 points, or 0.49 per cent, to end at 11,999.10. Stocks on Wall Street ended on a negative note on Wednesday.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul settled in the red amid reports that the US-China trade deal was unlikely to be signed this year. Further, the US Senate passed legislation supporting Hong Kong protestors, potentially complicating the trade negotiations with China, experts said.

European equities were also trading on a negative note in their respective early deals. Meanwhile, the Indian rupee appreciated marginally to 71.78 against the US dollar in intra-day trade. Brent crude futures, the global oil benchmark, fell 0.51 per cent to USD 62.08 per barrel.

(With inputs from PTI)