Sensex ends 541 points on global markets sell-off, Nifty settles at 7,812

The BSE Sensex and NSE Nifty gave up all the early gains in the second half of trading session on Tuesday and declined over 2 per cent tracking weak European markets and as sentiment turned cautious ahead of the expiry of monthly derivatives contracts later this week. Sensex closed 541.14 points down at 25,651.84 while Nifty lost 165.10 point at 7,812.

All sectoral indices on the Bombay Stock Exchange closed in red. The BSE Metal index declined the most — 4.24 per cent at 6,976.62, followed by BSE Capital Goods index (down 3.1 per cent), BSE Power index (down 3.09 per cent) and BSE Bankex (down 3.04 per cent).

In the 50-share index, Wipro remained the only gainer and jumped 0.30 per cent at Rs 594. On the other hand, Hindalco, Vedanta, Coal India, Tata Motors and YES Bank plunged between 4.80 per cent and 6.70 per cent.

Vinod Nair, head, fundamental research, Geojit BNP Paribas Financial Services, said, “Sell-off in the European market led to sharp correction in India which is under expiry mode. The European markets are under concern post the Fed decision of September 17 to hold the rate. Since then, we are seeing an appreciation in US dollar which is leading to volatility in developed market. As far as India is concerned we should continue to be cautious till the RBI policy, where the consensus of views expects a 25 basis points cut in rate.”

Overall market breadth for the day remained positive as advances to declines ratio for Nifty stood at 1:49 for the day.

Globally, FTSE fell over 2 per cent while France’s CAC and the pan-European Euro Stoxx were down up to 3.5 per cent. The Shanghai Composite index, however, rose 0.92 per cent.

Bombay Stock Exchange - BSE

National Stock Exchange of India Ltd (NSE)