Markets

Sensex posts biggest drop in four months

Our Bureau Mumbai | Updated on March 12, 2018 Published on May 29, 2014

Infosys contributes to a third of the index loss

Weak global cues saw the Nifty and the Sensex drop over 1.25 per cent on Thursday. The weakness was pronounced due to the expiry of near-month contracts of equity derivatives.

The Nifty closed at 7,236, down 94 points (-1.28 per cent) while the Sensex shed 322 points (-1.31 per cent), its biggest drop in four months, to close at 24,234.

“F&O volatility continued to take a toll on the broad index and adding to this spoilsport was Infosys, contributing more than a third of the index loss. Given the near-term lull in news flows, the market is yet to build a consensus on what to expect from the forthcoming Budget in July,” said Vinod Nair, Head, Research, Geojit BNP Paribas Financial Services.

FIIs were net sellers of equity worth ₹523 crore (total turnover of over ₹14,100 crore) while DIIs bought net equity worth ₹195 crore. Retail investors on the BSE also bought net equity worth ₹83 crore.

Volatility was down 4.94 per cent and the volatility index India Vix closed at 16.69.

Barring media, PSU banks and auto, all broader and sectoral indices closed in the red.

Published on May 29, 2014
null
This article is closed for comments.
Please Email the Editor