Sensex falls nearly 300 points in early trade ahead of F&O expiry

New Delhi: Equity benchmark Sensex tumbled nearly 300 points in early trade on Thursday tracking losses in index-heavyweights ahead of the expiry of June derivatives amidst negative global cues.

The BSE Sensex fell 298.78 points or 0.86 percent to 34,570.20 in early trade while the NSE Nifty dropped 99.10 points or 0.96 percent to 10,206.20.

Top losers in the Sensex pack were, HDFC Bank, Axis Bank, IndusInd Bank, Asian Paints, ICICI Bank and HDFC, falling around 3 percent. On the other hand, Bajaj Auto, ITC, NTPC, UltraTech Cement and Reliance Industries were among the gainers.

The rupee meanwhile depreciated 4 paise to 75.76 against the US dollar in early trade as weak domestic equities coupled with strong US dollar and rising coronavirus cases weighed on investor sentiments.

In the previous session on Wednesday, the BSE Sensex closed at 34,868.98, down 561.45 points, or 1.58 per cent, and the broader Nifty tumbled 165.70 points, or 1.58 per cent, to end at 10,305.30.

On a net basis, foreign institutional investors bought equities worth Rs 1,766.90 crore on Wednesday, provisional exchange data showed.