Sensex extends losses to second straight day; Maruti, RIL, Bharti Airtel among top laggards

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Updated: Jan 28, 2020 4:26 PM

S&P BSE Sensex settled 188.26 points or 0.46 per cent lower at 40966.86, while broader Nifty 50 index ended at 12,060.25, down 59 points or 0.48 per cent

Sensex, NiftyThe issue of Coronavirus will continue to dominate in terms of global cues while the outcome of the US fed meeting yesterday night will also be an important factor

Equity benchmark indices Sensex and Nifty ended in red for the second straight session on Tuesday due to sell-off in the global markets on the back of fear of coronavirus. The new coronavirus has already killed 106 people. Ahead of the Union Budget and disappointing quarterly result by heavyweight Maruti Suzuki dragged the indices in the final hour of the trading, said Narendra Solanki, Head of Fundamental Research- Investment Services, Anand Rathi Shares and Stock Brokers said. S&P BSE Sensex settled 188.26 points or 0.46 per cent lower at 40966.86, while broader Nifty 50 index ended at 12,060.25, down 59 points or 0.48 per cent. Bharti Airtel, Tata Steel, Reliance Industries and Maruti were the top laggards on the Sensex pack, while HDFC twins, Bajaj Finance, Sun Pharma, TCS and Tech Mahindra were among the top gainers on the index.

“There is selling in heavyweights as FIIs are selling in the cash market as well as in the F&O market. The issue of Coronavirus will continue to dominate in terms of global cues while the outcome of the US fed meeting yesterday night will also be an important factor. Sector-specific pre-budget move and Q3 results related movement are likely to continue,” Santosh Meena, Senior Analyst, TradingBells said.

The shares of Maruti Suzuki slipped 2.08 per cent to Rs 6995 apiece on BSE despite reporting a 5.1 per cent rise in Q3 FY20 net profit at Rs 1,565 crore on account of cost reduction efforts, lower operating expenses and reduction in the corporate tax rate.

Among sectoral indices, except Nifty Financial Services, Nifty IT and Nifty Realty, all the indices ended in red in today’s session. The Nifty Bank index dropped 70 points dragged by Yes Bank, ICICI Bank, Punjab National Bank and IndusInd Bank. In the broader market, S&P BSE MidCap index settled at 15,677.67, down 0.52 per cent while S&P BSE SmallCap index ended at 14,822, down 0.19 per cent

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