Stocks

Sensex snaps four-session winning run, ends 149 points lower

PTI | Updated on October 22, 2020 Published on October 22, 2020

Snapping its four-session rising streak, equity benchmark Sensex ended 149 points lower on Thursday, tracking losses in index majors Reliance Industries, Infosys and ICICI Bank, amid weak cues from global markets.

The 30-share BSE index settled 148.82 points or 0.37 per cent lower at 40,558.49. The broader NSE Nifty slipped 41.20 points or 0.35 per cent to 11,896.45.

IndusInd Bank was the top laggard in the Sensex pack, shedding around 3 per cent, followed by ICICI Bank, Titan, Infosys, HDFC Bank, Nestle India, Sun Pharma and Reliance Industries.

On the other hand, NTPC, Bharti Airtel, Bajaj Finance and Axis Bank were among the gainers.

“Indian markets traded on a negative note following benign Asian and global market cues as IMF on Wednesday downgraded its forecast for the Asia-Pacific region to (-) 2.2 per cent in 2020,” said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi.

During the afternoon session, markets attempted briefly to scale back losses but failed and remained lacklustre in a narrow range, he added.

On the global front, bourses in Shanghai, Tokyo and Seoul ended in the red, while Hong Kong settled on a positive note.

Stock exchanges in Europe were also trading with losses in early deals.

Meanwhile, international oil benchmark Brent crude was trading 0.22 per cent higher at $41.82 per barrel.

 

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Published on October 22, 2020
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