Sensex slides 200 pts, Nifty above 12,150
Tuesday,
21-Jan-2020
04:17 PM (IST)
Tepid earning growth in the December quarter of FY20 (Q3FY20), and a cut of over one percentage point in India's FY20 gross domestic product (GDP) growth forecast at 4.9 per cent by the International Monetary Fund (IMF) kept investment activity in check. Besides, subdued trade across Asian markets, too, had impact on the Indian equities. Heavy selling across banking, automobile, and metal counters, including HDFC Bank, ICICI Bank, Infosys, Maruti Suzuki, and Tata Steel, kept indices in the negative territory on Tuesday. The S&P BSE Sensex erased 205.10 points, or 0.49 per cent, to settle at 41,323.81 level. Tata Steel, Asian Paints, and Maruti Suzuki were the top laggards at the headline index. On the other hand, UltraTech Cement, HDFC, and IndusInd Bank ended the day as top gainers. In the intra-day trade, the Sensex hit a low of 41,301.63. Market breadth remained in favour of declines with 1,393 stocks declining on the BSE, as against gain in 1,107 stocks. About 174 stocks remained unchanged at the BSE. The volatility index -- India VIX -- closed 3 per cent higher. On the NSE, the Nifty50 slipped below the psychological level of 12,200 to end at 12,169.90 level, down 54.70 points or 0.45 per cent. All the key sectoral indices settled in the negative territory, barring Nifty Media index. Nifty Realty index (down 1.52 per cent) and Nifty Auto and Metal indices (down 1.3 per cent each) declined the most. The broader markets, although in the red, outperformed the frontline indices. The S&P BSE mid-cap closed 0.25 per cent lower at 15,580.46 level, while the S&P BSE small-cap index settled unchanged at 14,651.78.
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