Sensex extends weakness, down over 150 points; Tech Mahindra, Reliance fall

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slumping growth, valuation, Sensex, stubbornly optimistic, market news, NSE , Nifty , Dalal StreetThe domestic stock market remained weak as 2019 is coming to an end amid muted activity worldwide amid year-end holidays.

The equity benchmark Sensex on Tuesday fell over 200 points in the early trade tracking weak global cues as holiday week sees muted trade. The 30-share BSE index fell 167.26 points or 0.40 per cent to 41,390.74, and the broader NSE Nifty tumbled 58.10 points or 0.47 per cent to 12,200.55. In the last session, the 30-share gauge ended 55.30 points, or 0.45 per cent, lower at 41,558. The Nifty, however, closed 10.05 points, or 0.08 per cent, higher at 12,255.85. Power Grid was the top gainer in the Sensex pack, followed by Titan, Axis Bank, NTPC and Bajaj Finance. On the other hand, Tech Mahindra was the top loser. IndusInd Bank, Kotak Mahindra Bank Ltd, Reliance Industries Ltd and ICICI Bank were also trading in the red.

The domestic stock market remained weak as 2019 is coming to an end amid muted activity worldwide amid year-end holidays, news agency PTI reported citing unidentified traders. The brent futures tumbled 0.07 per cent to $66.62 per barrel. The rupee gained 8 paise to 71.23 against the US dollar in early trade as optimism over the US-China trade deal strengthened investor sentiments. At the interbank foreign exchange, the rupee opened at 71.28, then  touched 71.23 against the US dollar, recording a gain of 8 paise over its last close.

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The foreign institutional investors on a net basis sold equities worth Rs 130.52 crore, while domestic institutional investors purchased shares worth Rs 201.32 crore on Monday, data available with the stock exchange showed. Meanwhile, the government is confident of continuing to attract huge FDI in 2020 as well. Despite a slowdown in the global economy, inflows of foreign investment into the country have not been impacted, news agency PTI reported citing Secretary Department for Promotion of Industry and Internal Trade (DPIIT) Guruprasad Mohapatra.

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