Sensex Slips 150 points ahead of F&O expiry

NEW DELHI: The S&P BSE Sensex plunged as much as 181 points in trade on Thursday ahead of January F&O expiry, led by losses in HDFC, ICICI Bank, Sun Pharma, Bharti Airtel and Coal India.

The trend remain muted in rest of the Asian markets as well, after the US Federal Reserve said it will remain ‘patient’ on raising rates and watch the data closely.

According to traders, the market is likely to turn volatile as the session progresses as traders will square off open F&O positions.

Tracking the momentum, the 50-share Nifty index slipped below its crucial psychological support level of 8900, weighed down by losses in metals, pharma, banks and IT stocks.

At 10:00 a.m.; the 30-share index was at 29,457.82, down 131.36 points or 0.45 per cent. It touched a high of 29,526.33 and a low of 29,378.30 in early trade.

The Nifty was at 8,876.75, down 38.55 points or 0.43 per cent. It touched a high of 8,902.05 and a low of 8,861.50 in early trade.

Source: Economictimes

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