Concerns over the economic impact of the coronavirus epidemic on world economy kept investors on edge. (Photo Credit: File Photo)
Market benchmark Sensex dropped 153 points on Thursday, dragged by losses in index heavyweights Reliance Industries, TCS, HDFC Bank and HUL amid tepid global cues and rising crude oil prices. The 30-share BSE gauge settled 152.88 points, or 0.37 per cent, lower at 41,170.12. Similarly, the broader NSE Nifty slipped 45.05 points, or 0.37 per cent, to 12,080.85. Asian Paints, HUL, TCS, Tech Mahindra, Reliance Industries, UltraTech Cement were among the top laggards in the Sensex pack. On the other hand, IndusInd Bank, Tata Steel, SBI, PowerGrid and ONGC were among the gainers.
According to traders, concerns over the economic impact of the coronavirus epidemic on world economy kept investors on edge. Coronavirus death toll climbed to 2,118 in China with the death of 114 more people. However, new confirmed cases declined to 394, registering the biggest drop since December when the first case was reported in Wuhan city.
Meanwhile, bourses in Shanghai rallied after China's central bank cut interest rates to help ease credit for companies stricken by the virus outbreak. Benchmarks in Tokyo ended with gains, while those in Hong Kong and Seoul closed in the red. Stock exchanges in Europe also fell in opening trade.
Further, continued rise in crude oil prices too weighed on investor sentiment, traders said. Brent crude oil futures rose 0.14 per cent to USD 59.20 per barrel. On the currency front, the Indian rupee depreciated 9 paise to 71.63 per US dollar (intra-day). PTI ANS ABM ABM 02201