Sensex, Nifty in red on weak global cues
Re fall, mixed Q2 results dampen mkt sentiment; Heav selling in Axis Bank, Reliance Ind and Bajaj Finance; Shanghai, Hong Kong, Tokyo and Seoul ended with losses
image for illustrative purpose
Indices snap 2-day recovery ahead of F&O expiry
- BSE Sensex lost 206.93 pts to 61,143.33
- NSE Nifty fell 57.45 pts to 18,210.95
- Banking, metal and energy stocks pushed benchmark lower in the final hour
- Investors cautious over flare-up in US-China tensions
- Europe stocks trading on a negative note in the afternoon session
Mumbai: Market benchmarks closed in the red for the first time this week on Wednesday amid a bearish trend overseas and volatility ahead of expiry of monthly derivatives contracts. A depreciating rupee and mixed corporate results also took a toll on sentiment, traders said. Snapping its two-session rising streak, the 30-share BSE Sensex closed 206.93 points or 0.34 per cent lower at 61,143.33. Similarly, the broader NSE Nifty slipped 57.45 points or 0.31 per cent to 18,210.95.
"Echoing weak global sentiments, domestic indices slipped into negative terrain in today's choppy trade. Bleeding financial stocks dragged the market despite improvements in asset quality and favourable results. Stagflation worries and flare-up in US-China tensions forced global investors to trade cautiously ahead of the announcement of another batch of Q2 corporate earnings," said Vinod Nair, head (research) at Geojit Financial Services.
Ajit Mishra, V-P (research), Religare Broking, adds: "Markets are closely watching earnings for cues and we'll see the reaction to the numbers of select index majors in early trade on Thursday. Besides, volatility is expected to remain high due to the scheduled monthly derivatives expiry."
