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Wednesday, January 22, 2020

Sensex ends 71 points lower; FMCG, energy stocks crack

The 30-share BSE barometer had opened higher and hit a lifetime high of 41,185.03 points in the opening session.

By: PTI | Mumbai | Published: December 16, 2019 4:20:14 pm
BSE in Dalal Street, Mumbai. (Express photo by Nirmal Harindran)

Market benchmark Sensex ended 71 points lower at 40,938.72 on Monday, dragged by losses in energy, FMCG and auto stocks amid weak macroeconomic numbers.

The 30-share BSE barometer had opened higher and hit a lifetime high of 41,185.03 points in the opening session.

Losses in FMCG, auto, energy and select banking stocks eroded the gains later with Sensex settling 70.99 points or 0.17 per cent down at 40,938.72.

The broader NSE Nifty finished 32.75 points or 0.27 per cent lower at 12,053.95 as 37 of its components declined.

ITC was the top loser in the Sensex pack, shedding 1.97 per cent, followed by Tata Steel 1.80 per cent, HUL 1.57 per cent, Vedanta 1.44 per cent, Bharti Airtel 1.37 per cent and M&M 1.35 per cent.

On the other hand, TCS rallied 2.70 per cent, Tech Mahindra 1.60 per cent, HCL Tech 1.57 per cent, HDFC 0.83 per cent and Kotak Bank 0.73 per cent.

According to traders, an agreement between the US and China over trade tariffs enthused global investors earlier in the day, but release of weak macro numbers dampened the market sentiment.

Wholesale price-based inflation rose to 0.58 per cent in November, as against 0.16 per cent in October due to increase in prices of food articles.

Bourses in Shanghai, Hong Kong, Seoul and Tokyo ended on a mixed note, while those in Europe were trading significantly higher.

On the currency front, the rupee depreciated 18 paise against the US dollar to 71.01 (intra-day).

Brent futures, the global oil benchmark, was trading flat at USD 65.23 per barrel.

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