Ahead of F&O expiry, Sensex, Nifty fall over 1.2%

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Finally BSE Sensex ended with a loss of 321 points at 23,089. The BSE Sensex opened at 23,333, touched an intra-day high of 23,339 and low of 23,057.

The Indian stock market remain under pressure on sustained capital outflows by foreign funds and selling by retail investors amid weak Asian cues. Investors remained on sidelines ahead of the derivatives expiry and the Railway Budget on Thursday. Falling crude oil prices and weak global markets also dampened the domestic sentiment.

The NSE Nifty closed with a loss of 91 points at 7,019. The NSE Nifty opened at 7,075 hitting a high of 7,091 and low of 7,010. The losses in metal, pharma, industrial, capital goods, auto, power and banking counters weighed on the index.

On the global front, China’s Shanghai Composite index closed up by 0.9% and Hang Seng closed down 1.2%.

European stocks fell for a second straight session as prices of copper and crude oil slipped. The FTSE 100 trading down 1.3%. On the other hand, DAX and the CAC 40 were trading slipped over 1.5% each.