The Sensex tumbled 124 points on Wednesday and the Nifty slipped below the 9,500-mark with no let-up in selling by investors ahead of June derivatives expiry and weak global cues. Banks’ NPA thorn and uncertainties surrounding GST pushed the market even lower. Weakness in the rupee and muted global pointers did not help things either. June derivatives contracts are set to expire tomorrow, which also held back investors.
“Banks NPA woes and expectation of higher cost on consumer durables post-GST rollout have kept the market in the red. Additionally, the expiry of derivative contract tomorrow and weak global cue adds volatility in the market,” Vinod Nair, Head of Research, Geojit Financial Services ltd said. Falling for the third straight session, the 30-share Sensex ended lower by 123.93 points, or 0.40 per cent, at 30,834.32 after shuttling between 31,000.48 and 30,798.70. The barometer had lost 332.49 points in the previous two sessions on lacklustre global cues and jitters ahead of GST rollout.