Sensex drops over 100 points amid thin global trade

Mumbai: Equity benchmark BSE Sensex tumbled over 100 points in opening session on Tuesday tracking weak global cues as year-end holidays thinned trading across markets.

The 30-share BSE index fell 108.21 points or 0.26 per cent to 41,449.79, and the broader NSE Nifty slipped 28.10 points or 0.23 per cent to 12,227.75.

Tech Mahindra was the top loser in the Sensex pack, dropping up to 1.51 per cent, followed by Hero MotoCorp, IndusInd Bank, Mahindra and Mahindra, ICICI Bank and HDFC twins.

On the other hand, Axis Bank was the top gainer, rising up to 0.42 per cent. Sun Pharma, Ultratech Cement, HUL, ITC and SBI were also trading in the green.

In the previous session, the 30-share gauge ended 17.14 points, or 0.04 per cent, lower at 41,558. The Nifty, however, closed 10.05 points, or 0.08 per cent, higher at 12,255.85.

Meanwhile, on a net basis, foreign institutional investors sold equities worth Rs 130.52 crore, while domestic institutional investors purchased shares worth Rs 201.32 crore on Monday, data available with stock exchange showed.

According to experts, domestic stock market remained lacklustre as 2019 is coming to an end amid muted activity worldwide amid year-end holidays.

Bourses in Shanghai and Hong Kong were trading on a negative note in their respective early sessions, while those in Tokyo and Seoul remained closed.

Stocks on Wall Street ended lower on Monday.

Brent futures, the global oil benchmark, slipped 0.07 per cent to USD 66.62 per barrel.

Meanwhile, the rupee appreciated 4 paise to 71.27 against the US dollar in morning session.