Mumbai:Market benchmark Sensex tumbled 285 points on Thursday, weighed by heavy selling in Reliance Industries, HDFC Bank and Infosys as January derivatives contracts expired. Gold prices jumped Rs 400 to Rs 41,524 per 10 gram in the national capital helped by wedding season demand.
After swinging over 550 points during the day, the 30-share BSE index settled 284.84 points, or 0.69 per cent, lower at 40,913.82. It hit an intra-day low of 40,829.91 and a high of 41,380.14.
Likewise, the broader NSE Nifty closed 93.70 points, or 0.77 per cent, down at 12,035.80.
Top gainers and losers
Reliance Industries was the biggest loser in the Sensex pack, falling 2.62 per cent, followed by Nestle India, IndusInd Bank, UltraTech Cement, M&M and SBI.
On the other hand, Bajaj Auto, PowerGrid, ICICI Bank, Asian Paints, NTPC, HDFC, L&T and Maruti ended with gains.
According to analysts, benchmark indices turned highly volatile ahead of the expiry of January futures and options (F&O) contracts.
During afternoon session, markets continued to trade lower led by selling in large-cap stocks which added to the already skittish sentiment ahead of the Budget, they said.
Global Market
Further, weakness in other Asian bourses as rising concerns over the impact of China's coronavirus on the world economy also affected domestic market, traders said.
Bourses in Hong Kong, Japan and South Korea ended with steep losses. Bourses in China remained closed.