Sensex News Today: Sensex tanks over 400 points; Nifty tests 11,950 | India Business News – Times of India


NEW DELHI: Equity indices plunged on Monday with the benchmark BSE sensex sliding over 400 points ahead of derivatives expiry as investors await fresh cues from US President Donald Trump’s India visit. Trump is scheduled for a two-day visit to India from February 24.
Sensex tanked 433 points or 1.05 per cent to 40,737 in early trade; while the broader NSE Nifty dived 125 points or 1.04 per cent to 11,956.
“In the near-term, the volatility could increase given the expiry of February futures and options (F&O) contracts on Thursday and the expectations of news flow on business deals and/or trade deals during the President Trump visit to India,” Gaurav Dua, seniot vice-president, head – Capital Market Strategy & Investments, Sharekhan by BNP Paribas told news agency PTI.
Major laggards in the BSE pack include Tata Steel, HDFC, ITC, ICICI Bank, Maruti and NTPC with their shares down as much as 3.81 per cent.
On NSE, except for Nifty IT, all other sub-indices were trading in red with Nifty Metal and Auto down as much as 3.28 per cent.
Analysts expect the broader market to continue to outperform benchmark indices on the buying interest by domestic institutions.
China is also expected to slowly limp back to normalcy as more factories resume work and the raw material constraints reduce, Vinod Nair, head of research at Geojit Financial Services told PTI.
During the past week, sensex fell 87 points or 0.21 per cent, while Nifty shed 33 points or 0.26 per cent.
Financial markets remained closed on Friday on account of ‘Mahashivratri’
(With PTI inputs)

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