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Closing Bell: Sensex tanks 304 points, Nifty also falls below 12,200

Market Benchmark Sensex Slumped 304 Points On The Last Trading Session Of 2019, Dragged By Losses In Index-heavyweights Reliance Industries, HDFC Twins, ICICI Bank And TCS.

News Nation Bureau | Edited By : Assem Sharma | Updated on: 31 Dec 2019, 04:18:00 PM
Closing Bell: Sensex tanks 304 points, Nifty also falls below 12,200

New Delhi:

Market benchmark Sensex slumped 304 points on the last trading session of 2019, dragged by losses in index-heavyweights Reliance Industries, HDFC twins, ICICI Bank and TCS. After swinging over 423 points intra-day, the 30-share BSE Sensex ended down by 304.26 points, or 0.73 per cent, at 41,253.74.

The broader NSE Nifty closed 87.40 points, or 0.71 per cent, down at 12,168.45. Tech Mahindra was the top loser in the Sensex pack, shedding 2.51 per cent, followed by Bajaj Auto, RIL, Hero MotoCorp, IndusInd Bank, Mahindra and Mahindra, HDFC and TCS. On the other hand, NTPC, Sun Pharma, ONGC, PowerGrid and UltraTech Cement were among the gainers.

In the previous session, the 30-share gauge ended 17.14 points, or 0.04 per cent, lower at 41,558. The Nifty, however, closed 10.05 points, or 0.08 per cent, higher at 12,255.85. Meanwhile, on a net basis, foreign institutional investors sold equities worth Rs 130.52 crore, while domestic institutional investors purchased shares worth Rs 201.32 crore on Monday, data available with stock exchange showed.

According to experts, domestic stock market remained lacklustre as 2019 is coming to an end amid muted activity worldwide amid year-end holidays. Bourses in Shanghai and Hong Kong were trading on a negative note in their respective early sessions, while those in Tokyo and Seoul remained closed.

Analysts attributed weakness in the market to stock-specific selling and absence of any major trigger point in the market. Globally, Shanghai ended 0.33 per cent higher while Hong Kong settled 0.46 per cent lower. Markets in Tokyo and Seoul remained closed for year-end holidays. Stock exchanges in Europe started on a mixed note amid thin trade.

On the currency front, the rupee appreciated marginally against the US dollar to 71.34 (intra-day). Brent futures, the global oil benchmark, slipped 0.16 per cent to USD 66.78 per barrel.

(With inputs from PTI)

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First Published : 31 Dec 2019, 03:43:59 PM