SENSEX 740 PT between F&O expiration; Nifty is below 14,400

The equity benchmark Sensex plunged 740 points on Thursday, surrounded by losses at index majors Reliance Industries, Infosys and HDFC Bank as monthly derivatives expired amid weak signals from global markets.

The 30-share BSE index closed down 740.19 points or 1.51% at 48,440.12 and the broader NSE Nifty was down 224.50 points or 1.54% at 14,324.90.

Maruti topped the Sensex pack with 4%, followed by Bharti Airtel, HUL, NTPC, Bajaj Finance, UltraTech Cement, ONGC and Reliance Industries.

On the other hand, Drs. Reddy’s was the beneficiary of ICICI Bank, L&T and HDFC.

Binod Modi, Head – Strategy, Reliance Securities, said, “Domestic stock markets fell for the third consecutive day despite a favorable trend for Asian markets regarding the rapid rise in COVID-19 cases.

Except for financials and metals, all major regional indices ended in red.

In addition, the futures and options (F&O) expiry factor also contributed to the volatility, he said, adding that the market capitalization of the domestic market fell below 200 trillion for the first time since February 3, 2021, resulting in the last two to tr 5 trillion. There was a loss of more than Rs. day.

Elsewhere in Asia, bounces in Shanghai and Hong Kong were in the red, while Tokyo and Seoul ended on a positive note.

Stock exchanges in Europe were trading with losses in mid-session deals.

Meanwhile, global oil benchmark Brent crude was trading 1.35% down at US $ 63.54 a barrel.