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Closing bell: Sensex, Nifty tanks near 1%; Shares of Reliance Industries, Yes Bank, Adani bleeds
Shares of pharma, metal, auto, banking, energy, power and gas witnessed huge selling pressure throughout the intraday trade.
Extending morning and mid-session loss, the BSE Sensex crashed 368 points to 35,656 mark while the 50-share index Nifty plunges 119 points to 10,661 levels. Shares of pharma, metal, auto, banking, energy, power and gas witnessed huge selling pressure throughout the intraday trade. Among the Sensex 30 pack shares of Reliance Industries, ICICI Bank and Yes Bank crashed by over 4 per cent. Shares of Adani group too fell sharply today.
Healthcare stock index fell down by more than 2 per cent. Shares of Dr Lal pathlabs fell sharply by more than 5 per cent, Cadila Healthcare stock fell down by more than 3 percent while cipla shares went northward by around 2.9 per cent. Divis and Appollo Hospital stock too fell down by around 2 per cent. Among bankex yes bank stock fell down by more than 5.5 per cent, IndusInd Bank stock fell down by near 2.9 per cent while ICICI shares came down by around 4.05 per cent.
See Zee Business video below:
ग्रेफाइट के शेयरों में इसी महीने दिखी करीब 30-35% की गिरावट, क्यों आई ग्रेफाइट इंडिया में तेज़ गिरावट, जानिए वजह सुमित मेहरोत्रा से।@AnilSinghviZEE @SumitResearch @deepaliranaa pic.twitter.com/3BNRhDpkWp
— Zee Business (@ZeeBusiness) January 28, 2019
Infra major Aban Offshore fell sharply by near 4.4 per cent, Adani Ports and Special Economic Zone Ltd. rashed by more than 13 per cent, Vodafone Idea went southward by near 5 per cent, Tata power fell by over 3.5 per cent while RComm stocks plunge by near 2.1 per cent. Among metal stocks Vedanta fell by around 1.8 per cent, shares of SAIL fell down by around 2.2 per ent, Jindal Steel and Power crashed by near 3.8 per cent. Shares of JSW Steel too fell down by around 2.6 per cent.
Commenting upon the market movement on Monday, Mehul Kothari, Senior Equity Analyst at IndiaNivesh re-iterated his earlier comments, "On the downside, move below 10750 could dwell the upside momentum but the uptrend would be in jeopardy if index breaches the critical support of 10690."
Asian stock indices too had a testing time on Monday. Among Asian bourses Korean Kospi nudged lower by around 0.02 per cent, Hang Seng edged up by near 0.03 per cent, Shanghai index fell down by around 0.18 per cent while Japanese Nikkei plunged by around 0.6 per cent.
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