MUMBAI: Stock markets continued to fall for the fifth consecutive day on Thursday amid fears that the corona virus may take the form of an epidemic. The Bombay Stock Exchange Sensex was down by 143 points. Traders said the market remained volatile due to settlement of domestic derivative contracts.
The 30-share Sensex of the Bombay Stock Exchange ended at a loss of 143.30 points, or 0.36 per cent, to end at 39,745.66 points after breaking 465.69 points at one time during the day’s trading. Similarly, the National Stock Exchange’s Nifty lost 45.20 points or 0.39 percent to 11,633.30 points.
Among the Sensex companies, ONGC recorded the largest decline. HCL Tech, SBI, ICICI Bank, IndusInd Bank, Hero MotoCorp and Mahindra & Mahindra also suffered losses. On the other hand, shares of Sun Pharma, Titan, Asian Paints and Axis Bank rose. The gross domestic product (GDP) growth rate is estimated to be stable at 4.5 percent in the third quarter of October-December, 2019 of the current financial year. This also affected the perception.
The government will release the GDP data for the December quarter on Friday. Traders said the strong selling by foreign portfolio investors (FPIs) has also affected the perception of retail investors. According to provisional data from the stock markets, FPI has sold shares worth a net Rs 6,812.57 crore this week.
Cospi of South Korea and Nikki of Japan recorded significant declines. There was profit in Shanghai of China and Hangseng in Hong Kong. European markets were down in early trade. Brent crude oil futures lost 1.33 percent to $ 52.11 a barrel. The rupee was trading marginally higher at Rs 71.62 per dollar during day trading in the inter-bank foreign exchange market.
