January 26, 2021

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Sensex, Nifty End Lower For Second Day

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Indian shares fell for a second straight session on Thursday, with IT, FMCG and healthcare stocks succumbing to selling pressure despite positive cues from global markets.

The benchmark S&P BSE Sensex dropped 80.74 points, or 0.17 percent, to 48.093.32, extending losses for the second day running. The broader NSE Nifty index ended down 8.90 points, or 0.06 percent, at 14,137.35.

Benchmark indexes traded higher for most part of the day before coming under selling pressure in last hour of trade due to spike in volatility owing to weekly expiry of index futures and option contracts.

Divis Laboratories, Titan Company, Hindustan Unilever, HDFC Life and Nestle India fell around 2 percent each, while metal stocks such as Hindalco and Tata Steel jumped around 5 percent on a weakening dollar amid U.S. stimulus hopes.

Bharti Airtel rallied 3.6 percent after the telecom major moved the Supreme Court over “arithmetical errors” in the department of telecommunications’ (DoT) calculation of adjusted gross revenue dues payable by the company.

Property developers were in focus, with Sobha surging 7.8 percent after the company said it has achieved best ever quarterly sales volume in the December quarter.

Dixon Technologies jumped 9.7 percent after the company said it has signed a pact with Imagine Marketing, the maker of popular boAt wearable gadgets for manufacturing of twin wireless speakers.

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2021-01-07 05:59:08

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