Home / Market / Stock-market-news /  Sensex closes down 80 points, Nifty 0.48% lower, Donald Trump’s speech eyed

Mumbai: Markets fell on the first session of the new derivatives series on Monday, with the BSE Sensex slipping 80 points to 28,813, as investors chose to sit tight ahead of a speech by Donald Trump before the Congress this week.

The benchmark indices closed lower for the first time in last seven consecutive trading sessions, weighed down by banking, auto, power, PSU, capital goods, technology and metal stocks. The NSE Nifty also cracked below the 8,900-mark.

The selling came in the face of start of March futures and options series in the derivatives segment, dealers said. Despite opening higher, the 30-share Sensex stayed in the negative zone for the most part and touched a low of 28,791.19 as investors booked profits in recent gainers. The gauge settled down 80.09 points, or 0.28%, at 28,812.88.

The index had gained 737.41 points in the previous six sessions. The 50-share NSE Nifty ended lower by 42.80 points, or 0.48%, at 8,896.70, after touching a high of 8,951.80 and a low of 8,888.65.

The index was dragged down by losses, mainly in banking, auto, power, PSU, capital goods, falling by up to 1.39%. Axis Bank was the biggest loser, which plunged 3.56% followed by PowerGrid 3.14% and Bharti Airtel 2.83%.

Other losers were ICICI Bank 1.97%, Maruti Suzuki 1.38%, L&T 1.20%, Dr Reddy’s 1.12% and Tata Motors 1.02%.

However, market heavyweight RIL soared 4.74% to ,238.60. Last week, its telecom arm Jio had said it would start charging for data services from April, thus providing clarity on the way forward. Intra-day, RIL rose over 6% to a more than seven and a half high, with its market valuation getting past the four trillion mark.

Other gainers were HUL, Wipro, Lupin, Coal India, Infosys and TCS. In the 30-share Sensex constituents, 23 ended lower and 7 higher.

However, broader markets showed the upward trend as small-cap rose 0.16% and mid-cap indices edged up 0.01%. Foreign portfolio investors (FPIs) net bought shares worth Rs392.33 crore on Thursday, provisional data showed.

Stocks market was closed on Friday on account of Shivratri. Globally, European stocks witnessed a mixed trend, taking a weak lead from Asian losses as investors waited for a speech to the Congress by Trump this week, traders said. Asian markets mostly ended lower. Europe was trading mixed.

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