Markets swung into weakness as the Sensex on Wednesday fell over 76 points and the NSE Nifty slipped below the 9,500 mark as investors brought down their bets ahead of the derivatives expiry. Negative leads from global markets weighed. Cutting down of positions by participants in view of tomorrow’s June derivatives contract expiry added to the downward move.
The BSE 30-share barometer fell 76.62 points, or 0.24 per cent, to 30,881.63. The gauge had lost 332.49 points in the previous two sessions. The laggards were Asian Paints, SBI, ITC Ltd, Dr Reddy’s, L&T and Reliance Industries, declining by up to 2.20 per cent.
Sectoral indices led by consumer durables, FMCG, capital goods and healthcare stocks were in the negative terrain, falling by up to 0.87 per cent.
The NSE Nifty also slipped 31.60 points, or 0.33 per cent, to 9,479.80. There is a sense of caution ahead of the rollout of the GST on July 1.
A weak trend on other Asian bourses following overnight losses in US markets dampened sentiment too. Hong Kong’s Hang Seng was down 0.58 per cent while Shanghai Composite edged lower 0.13 per cent in early trade today. Japan’s Nikkei slumped 0.29 per cent. The US Dow Jones Industrial Average finished 0.46 per cent lower yesterday.