Financials News

Stocks extend losses on F&O expiry, GDP data

Stocks extend losses on F&O expiry, GDP data

Mumbai: The benchmark Sensex extended losses by 300 points or 0.90 per cent due to selling in energy, banking, financial and FMCG stocks as investors remained cautious due to November series F&O expiry and September quarter GDP data due on Thursday.

Lower Asian markets also weighed on the sentiment. The 30-share BSE index dropped by 301.44 points or 0.90 per cent to 33,301.32 at 1150 hrs. The broader NSE Nifty trading below the key 10,300- level at 10,275.85, down by 85.45 points or 0.82 per cent.

Major losers were Reliance Industries, Cipla and Kotak Bank which fell up to 1.75 per cent. M&M, Axis Bank, ITC, Tata Motors, ICICI Bank, Hindustan Unilever and HDFC also dropped up to 1.60 per cent.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 859.27 crore on Wednesday, as per provisional data. Domestic institutional investors (DIIs) bought equities worth a net Rs 771.07 crore.

Asian markets fell as investors ponder the longevity of the global equity bull run. In the US, the Dow Jones Industrial Average closed at a new high yesterday even as the Nasdaq Composite logged its worst day in three months as a selloff in megacap technology shares.

PTI