Mumbai: Equity benchmarks nursed losses for the second straight session on Thursday as investors offloaded banking, finance and infra stocks amid expiry of monthly derivative contracts and lacklustre global cues.
A depreciating rupee and weak Q2 results from blue-chips further sapped risk appetite, traders said.
The 30-share BSE Sensex ended 172.61 points or 0.43 per cent lower at 39,749.85 in choppy trade.
On similar lines, the broader NSE Nifty fell 58.80 points or 0.50 per cent to 11,670.80.
L&T was the top loser in the Sensex pack, dropping 4.99 per cent after the engineering major posted a 45 per cent decline in consolidated net profit for the September quarter.
Titan, ONGC, Axis Bank, HUL, NTPC, M&M and HDFC were the other major laggards, shedding up to 3.32 per cent.
On the other hand, Asian Paints, UltraTech Cement, HCL Tech, Kotak Bank, ICICI Bank and Reliance Industries were among the gainers, spurting up to 2.79 per cent.
Asian markets mirrored a weak trend on Wall Street, with both the Dow Jones and S&P 500 logging their biggest single-day falls since June as investors fretted over the second wave of coronavirus cases.
France announced a nation-wide lockdown to curb the rising COVID-19 cases, while Germany also imposed restrictions on economic activities.
According to traders, domestic market volatility was further heightened as October futures and options (F&O) contracts expired.
“As expected the Indian stock market has turned its focus from Q2 result-driven rally to international developments as the global market is worsening. Markets across the world are volatile because of rising corona cases impacting the recovery of economy and ambiguities over the US election and stimulus package. Additionally, today Indian indices ended weak following October monthly F&O expiry.
“This weakness can stay for the short-term, a reversal can happen as strong fiscal and monetary stimulus is expected from governments and central banks in the world to overcome the crisis,” said Vinod Nair, Head of Research at Geojit Financial Services.
BSE capital goods, consumer durables, industrials, FMCG, auto and healthcare indices fell as much as 2.14 per cent, while energy, basic materials, IT, oil and gas and teck ticked higher.
Broader BSE midcap and smallcap indices lost up to 0.55 per cent.
Bourses in Hong Kong, Seoul and Tokyo ended on a negative note, while Shanghai was in the positive territory.
Equities in Europe were trading higher in early deals, propped up by better-than-expected corporate earnings.
Meanwhile, international oil benchmark Brent crude was trading 3.15 per cent lower at USD 38.39 per barrel.
In the forex market, the rupee continued its downward journey, sliding another 23 paise to close at 74.10 against the US dollar