Sensex recovers from 1000 point plunge; auto, banking, pharma major losers
Sensex today gave away nearly 1000 points and even reached the 36,132-level.
Dalal Street ended on the hotbed today. Both Sensex and Nifty closed on negative note for 5th consecutive day. Sensex finished at 36,841.60, lower by 279.62 points, which is 0.75%, whereas the Nifty 50 at 11,143.10 points, lower by 91.25 points, which is 0.81% from the previous day's close. However, the big news is that Sensex crashed and then managed to recover after taking on horrific Losses, which it recorded during the second half of trading session. The index today gave away nearly 1000 points in today's trading session, and even reached THE 36,132-level - a three-month low.
On the Sensex, gainers were ONGC taking the lead by surging nearly 2% at Rs 180.10 per piece, followed by Wipro at Rs 337.35 per piece above 1.38%, ITC at Rs 303.75 per piece up 1.37%, TCS at Rs 2103.80 per piece 1.30%, Asian Paint at Rs 1303.10 per piece higher by 1.07% and M&M at Rs 957.20 per piece up 1.05%.
Meanwhile, losers list on the index involved, Yes Bank taking top spot by ending at Rs 227.05 per piece down by 28.71%. So far, today, the bank's share price has tumbled by over 34% due to MD & CEO Rana Kapoor's impending exit. Yes Bank was joined by Kotak Bank as it plunged by 3.86% at Rs 1179.65 per piece, followed by Adani Ports at Rs 362 per piece down 2.94%, IndusInd Bank at Rs 1761.70 per piece down 2.38%, Maruti at Rs 8039.55 per piece below 2.04% and Infosys at Rs 706.30 per piece lower by 1.96%.
Auto, banking, healthcare and IT were among major losers on BSE.
S&P BSE Bankex closed at 28,702.03 down by 926.19 points which is 3.13%. Meanwhile, S&P BSE Auto index tumbled by 276.89 points or 1.18% completing at 23274.84. As for, S&P BSE Healthcare finished at 15588.83 below 263.43 points or 1.66%.
“It was gut wrenching day in Indian market today, with free fall across the market caps and sectors, with almost no place to hide. The day started with ‘Yes Bank’ free fall, but by end of the day, there were so many such events. The macro meltdown in terms of relentless rupee weak weakness and bond yield hardening has finally shown-up its impact in full vigour on the market," says, Jagannadham Thunuguntla, Sr. VP and Head of Research (Wealth), Centrum Broking Limited .
Moreover, the Indian rupee continued to depreciate against US benchmark dollar index at interbank forex market. The domestic currency finished at 72.185 higher by 0.460 points or 0.64% against dollar, as per investing.com.