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Business

Updated on: Thursday, May 30, 2019, 10:31 AM IST

Sensex drops 66.72 points

PTI
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Mumbai : Market played into the hands of bears for the fifth day on Tuesday as the Sensex ended at fresh two-weak low of 26,308 and the Nifty slipped below the key 8,100-mark, still cautious about how demonetisation will pan out.

The Bank of Japan (BoJ), on its part, kept monetary policy steady and offered a brighter view of the economy. There were geopolitical worries following deadly attacks in Europe. The rupee weakened to end at 68.03, which clouded sentiment.

The index dropped another 66.72 points, or 0.25 per cent, to end at 26,307.98 — its lowest closing since December 7. It moved between 26,435.56 and 26,241.43 today. The gauge had lost 323.12 points in the previous four sessions, reports PTI.

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The 50-share NSE Nifty below the 8,100 mark to close lower by 21.95 points, or 0.27 per cent, to end at 8,082.40, after shuttling between 8,124.10 and 8,062.75. “Though the finance minister announced relief measures for small traders, markets were seen eyeing the cascading effect of demonetisation,” said Anand James, Chief Market Strategist, Geojit BNP Paribas Financial Services. FIIs preferred to keep their volume lower in view of approaching year-end holiday season as they pulled out funds from emerging markets, traders said.

Banking, healthcare and metal sectors saw the maximum decline. However, buying interest in select sectors like IT and consumer durables checked the slide.  SBI was hardest hit, plunging 2.62 per cent, followed by ICICI Bank 2.18 per cent. Bajaj Auto, Lupin, Tata steel, Hero MotoCorp, Adani Ports, Hindustan Unilever and Axis Bank retreated too. Asian stocks ended largely mixed. Hong Kong’s Hang Seng fell 0.50 per cent and Shanghai Composite was down 0.81 per cent.

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Published on: Wednesday, December 21, 2016, 07:46 AM IST
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