RIL, HDFC twins drag markets; Sensex loses 180 points

IANS
Tuesday, 24 December 2019

Other index heavyweights like HDFC, TCS, Infosys and L&T also ended lower. Besides, state-run BPCL finished as the top loser, shedding nearly 3 per cent over reports of possible delay in its disinvestment.

MUMBAI: The two biggest index contributors Reliance Industries and HDFC Bank on Tuesday dragged the key equity indices lower.

After stellar trading last week, the Sensex and Nifty finished lower for the second consecutive day, declining by over 180 points and 50 points, respectively.

Other index heavyweights like HDFC, TCS, Infosys and L&T also ended lower. Besides, state-run BPCL finished as the top loser, shedding nearly 3 per cent over reports of possible delay in its disinvestment.

One of the most active stock on the BSE, Yes Bank again reversed course to advance over 3 per cent to grab the spot on the Nifty50 gainers list as investors bought its shares on reports that some European entities my invest upto $1 billion in the bank.

The benchmark Sensex closed at 41,461.26, down 181.40 points, while the broader Nifty fell 50.75 points to end at 12,212.

"Lack of fresh triggers seem to have led markets to trade flat. We may see lacklustre trading sessions due to the holiday mood and December's F&O expiry due this week," said Vinod Nair, Head of Research at Geojit Financial Services.

Global markets also remained largely quiet ahead of the Christmas holidays. Aviation behemoth Boeing's stocks continue to advance after the company announced the resignation of CEO Dennis Muilenburg in the backdrop of 737 Max aircraft crisis.

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