Sensex ends 205 points lower; Nifty slips below 12,200

 thehindu.com  01/21/2020 11:44:38 

Market benchmark Sensex dropped 205 points on January 21, led by losses in auto, banking, metal and FMCG stocks amid a sharp fall in other Asian markets on concerns over a deadly virus in China.

After trading on a volatile note, the 30-share BSE index settled 205.10 points, or 0.49%, lower at 41,323.81.

Likewise, the broader NSE Nifty fell 54.70 points, or 0.45%, to 12,169.85.

Tata Steel was the top loser in the Sensex pack, shedding 3.01%, followed by M&M, Maruti, Asian Paints, PowerGrid, ITC and Axis Bank.

On the other hand, Ultratech Cement, HDFC, Kotak Bank, ONGC and TCS ended with gains.

According to traders, domestic investors turned wary amid subdued quarterly results by key index constituents and negative cues from global markets.

Further, market sentiment was hit after the IMF on January 20 lowered Indias economic growth estimate for the current fiscal to 4.8% and listed the countrys much lower-than-expected GDP numbers as the single biggest drag on its global growth forecast for two years.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with sharp losses.

European markets were also trading on a negative note in their early sessions.

Brent crude oil futures fell 1.21% to $64.41 per barrel.

The rupee depreciated 5 paise to 71.16 per U.S. dollar (intra-day).

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