1. 10 stocks which drove Sensex down over 300 points today

10 stocks which drove Sensex down over 300 points today

Today’s sharp plunge in the domestic markets has left the investors poorer by over Rs 95,000 crore. Here are the 10 stocks which contributed the most to the Sensex sink today.

By: | Published: August 11, 2017 6:08 PM
BSE Sensex has lost around 1,060 points in this week’s trading.

Indian stock market tumbled on Friday and set the week for the worst fall in over last 18 months as the ongoing cross-border tensions between the United States and North Korea turned the sentiments negative. BSE Sensex has lost around 1,060 points in this week’s trading. The biggest drag came from State Bank of India after the country’s largest lender posted weak earnings for the April-June quarter of FY 2018. The benchmark Sensex lost over 300 points to end at 31,213.59 points while the broader Nifty 50 fell 109 points to settle at 9,710.8 points.

10 stocks which contributed the most to the Sensex drop:

Reliance IndustriesShares of oil-to-telecom conglomerate today fell 2.37% to Rs 1,546.55 on profit-booking and contributed the most, around 65 points in the downsurge of the benchmark index.

State Bank of India: SBI was the biggest loser on the Sensex today, fell 5.36% to Rs 280.65 after country’s largest lender posted a decline of 20% in the standalone net profit to Rs 2,005.53 crore for the April-June quarter of FY 2018. Bank’s asset quality deteriorated further, with gross non-performing assets (NPAs) rising to 9.97% as on 30 June 2017 as against 6.94% as at end-June 2016. SBI was the second-largest contributor in dragging the Sensex.

L&T: The shares of Indian conglomerate with business interest in technology, engineering, construction, manufacturing and financial services fell 2.3% to Rs 1,132.8 and it was the third-largest contributor in bringing the index down.

Other shares which pulled the Sensex down are Mahindra & Mahindra (down 3.1%), Maruti Suzuki (down 1.68%), HDFC Bank (down 0.47%), HDFC (down 0.49%), HUL (down 1.58%), ITC (down 0.57%), Tata Motors (down 1.71%). Collectively these stocks have contributed 111.79 points in the index losses while Reliance Industries, SBI and L&T imparted 157 points to the Sensex fall.

Today’s sharp plunge in the domestic markets has left the investors poorer by over Rs 95,000 crore as the market cap stood at Rs 1,27,08,846 crore. Risk appetite took a hit after the Economic Survey said achieving the high end of the 6.75-7.5 per cent growth projected previously will be difficult. This is markets’ first weekly fall in six.

Weakness in the rupee against the American currency and lacklustre global shares dragged down the indices, too. JKumar Infraprojects and Prakash Industries resumed trading today and crashed by up to 20% to hit the lower permissible limit after SAT stayed the curbs imposed by Sebi on them.

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