Nifty Ends At Over 1-Month Low Amid Derivatives Expiry
Closing Bell: Nifty Ends At Over 1-Month Low Amid Derivatives Expiry
Indian equity benchmarks declined for second straight day as June derivative contracts expired.
Rupee declining to a record low coupled with escalating global trade tensions added to the negative sentiment.
The S&P BSE Sensex fell 0.51 percent or 179 points to 35,038 and the NSE Nifty 50 index tumbled 0.77 percent or 82 points to 10,589.
For the June series, Nifty fell 1.37 percent and Sensex declined 0.81 percent.
In today's trade, seventeen out of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Oil & Gas index's 2.5 percent drop. On the other hand, the S&P BSE Telecom index was top gainer, up 0.2 percent.
The mid- and small-cap shares underperformed their larger peers as the S&P BSE MidCap and S&P BSE SmallCap indexes fell over 1.5 percent.
Aviation Stocks Fall On Rising Crude
Shares of airline companies fell as much as 6 percent as crude prices rose for a third day in a row.
- Jet Airways fell 6.2 percent
- Interglobe Aviation declined 4.2 percent
- SpiceJet slipped 3.1 percent
ICICI Bank Extends Losses After Block Deal
- ICICI Bank has 46.9 lakh shares change hands in two blocks. Stock falls 3 percent to Rs 270.
Buyers and sellers were not immediately known
Market Update: Sensex Extends Losses, Nifty Below 10,600 Amid F&O Expiry
- Indian equity benchmarks extended losses dragged by financials and energy shares amid derivative expiry for June series.
- The S&P BSE Sensex fell 0.5 percent or 185 points to 35,032 and the NSE Nifty 50 index declined 0.76 percent or 81 points to 10,590.
- All sector gauges barring the Nifty Metal index were trading lower led by the Nifty PSU Bank index's 2 percent drop.
- The mid- and small-cap shares were underperforming larger peers as the Nifty Midcap 100 index declined 1.4 percent and Nifty Smallcap 100 index fell 1.5 percent.
- The overall breadth was extremely bearish as 1,797 shares were declining while 707 were advancing on the BSE.
Stocks Slip, Bonds Mixed As Trade Fears Persist
European stocks edged lower, following declines across Asia as investors continued coming to grips with the Trump administration’s strategy toward Chinese investments.