Sensex Ends 173 Points Lower As Markets Extend Losses To Second Day

Share Market Latest Updates: The session was highly volatile as investors rushed to settle their positions ahead of the expiry of monthly derivatives contracts by the end of the session.

Sensex Ends 173 Points Lower As Markets Extend Losses To Second Day

Stock Market Updates: HDFC Bank, HDFC and L&T were the biggest drags on Sensex

Domestic stock markets continued to decline for a second straight day on Thursday amid a broad-based selloff, as rising COVID-19 cases in the US and Europe dampened investor sentiment globally. The S&P BSE Sensex index fell 398.21 points - or 1 per cent - to 39,524.25 at the weakest level recorded during the session, and the broader NSE Nifty 50 benchmark declined to as low as 11,606.45, down 123.15 points - or 1.05 per cent - from its previous close. The session was highly volatile as investors rushed to settle their positions ahead of the expiry of monthly derivatives contracts by the end of the session. 

The Sensex ended 172.61 points - or 0.43 per cent - lower at 39,749.85 and the Nifty settled at 11,670.80, down 58.80 points - or 0.50 per cent - from its previous close.

Larsen & Toubro, Titan, Adani Ports, ONGC and Axis Bank, closing between 2.32 per cent and 4.85 per cent lower, were the worst hit among 34 laggards in the 50-scrip index. 

On the other hand, Asian Painsts, Tech Mahindra, UltraTech Cement, Shree Cement and HCL Tech - up 1.14-3.02 per cent each - were the top Nifty gainers. 

HDFC Bank, HDFC and L&T were the biggest drags on Sensex.

The National Stock Exchange's India VIX index - which measures the expectation of volatility in the near term - rose 3.57 per cent for the day.

Maruti Suzuki India shares ended 1.13 per cent lower at Rs 7,101.10 apiece on the BSE, after the country's largest carmaker reported a 1 per cent rise in net profit to Rs 1,372 crore in the July-September period, as the lifting of COVID-19-related restrictions brought back customers to its showrooms and eased supply chain disruptions.

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Analysts awaited more large cap earnings for near-term cues.

Construction major Larsen & Toubro's shares closed 4.99 per cent lower, a day after the company reported a net loss from continuing operations on a standalone basis in the quarter ended September 30.

Axis Bank shares gave up initial gains to finish the day 2.21 per cent lower after the country's third largest private sector lender by market value reported a net profit of Rs 1,682.67 crore in the July-September period as its asset quality improved.

Other Asian markets fell as the region's brighter economic outlook offset investor worries about fresh COVID-19 lockdowns in Europe. MSCI's broadest index of Asia-Pacific shares outside Japan was last seen trading 1 per cent lower. while Japan's Nikkei 225 benchmark was down 0.8 per cent.

European share markets started Thursday's session with cautious gains, with the United Kingdom's FTSE 100 index last seen trading 0.14 per cent higher in early trade. The Eurostoxx 50 index was down 0.07 per cent at the time.