Huge wealth destruction was witnessed on Dalal Street. Fairness traders had been left poorer by Rs 3.78 lakh crore, as their whole wealth represented by BSE market capitalisation declined to Rs 255.18 lakh crore. This implies they misplaced over Rs 1,000 crore per minute!
The 30-share pack Sensex fell 524.96 factors or 0.89 per cent to shut at 58,490.93. The index gyrated 813 factors earlier than closing close to the day’s low. Its broader peer NSE Nifty declined 188.25 factors or 1.07 per cent to 17,396.90.
“Following excessive volatility and weak international sentiments, the home market led to a bear grip with steel and PSU banks main fall. World markets traded negatively as traders had been cautious forward of a number of central financial institution coverage conferences scheduled this week,” mentioned Vinod Nair, Head of Analysis at Geojit Monetary Providers.
Market at a look:
- Tata Metal tanks 10 per cent as commodity costs sink globally
- FMCG shares stand tall amid sell-off, HUL beneficial properties about 3 per cent
- India VIX, a barometer of volatility and worry, spikes 15 per cent
- NDTV hits 10 per cent higher circuit on Adani buyout buzz
- IRCTC cools off, falls additional 4 per cent on profit-booking
Among the many bluechip names, HUL was the highest gainer, rising 2.88 per cent. Bajaj Finserv, ITC, Nestle India, HCL Tech Britannia Industries and Reliance Industries had been different gainers.
Tata Metal was the highest loser within the Nifty pack for one more day, falling 10 per cent. JSW Metal, Hindalco, UPL, Bharat Petroleum, SBI, IndusInd Financial institution and Tata Motors had been others that ended within the purple.
Broader market indices additionally ended decrease, underperforming their headline friends. Nifty Smallcap declined 1.73 per cent and Nifty Midcap fell 2.16 per cent. Nifty 500, the broadest index on NSE, ended down 1.33 per cent.
Gujarat Narmada Fertilisers, KEC Worldwide, KEI Industries, Indian Resort, GMR Infra and Tata Elxsi had been prime gainers from mid and smallcap indices, climbing within the vary of 2-8 per cent.
Nationwide Aluminium, Rain Industries, Hindustan Copper, Jindal Metal, SAIL and Indiabulls Housing Finance had been main losers from broader market house, falling within the vary of 5-10 per cent.
MORE TO COME…