BSE Sensex logs biggest single day fall in 9 mths, plunges 317 pts, hits year's low
It is not something that can continue for ever. This is not something, which is going to be liked by markets," said HDFC Securities.
The US Dow Jones index closed 0.8 per cent down last night while losses at Nasdaq were sharper at 1.55 per cent.
Indices in Hong Kong, Singapore, South Korea, Japan, China and Taiwan were down by 0.47-2.97 per cent. European markets were trading lower by 1.5 per cent in early trade.
Trading in US index futures also indicated that the Dow Jones could fall 17 points at the opening bell today.
Turning to the local market, 29 out of the 30-share Sensex scrips fell, except Gail India that inched up.
Major Sensex losers were Jindal Steel (4.19 pc), Tata Steel (4.18 pc, Sterlite Ind (3.77 pc), ICICI Bank (3.77 pc), Hindalco Ind (3.54 pc), Bharti Airtel (2.79 pc), Maruti Suzuki (2.48 pc), ONGC (2.31 pc), L&T (2.17 pc) and RIL (2.12 pc).
Tata Motors (2.04 pc), BHEL (1.99 pc), HUL (1.92 pc), SBI (1.84 pc), M&M (1.69 pc), Wipro (1.53 pc) and ITC (1.17 pc) also suffered sharp losses.
Among the sectoral indices, the BSE-Metal dropped by 3.23 per cent, followed by Bankex (2.52 pc), the BSE-Realty (2.33 pc), the BSE-Capital Goods (2.07 pc), the BSE-Oil&Gas (1.77 pc), the BSE PSU (1.72 pc) and the BSE Auto (1.50 pc).
The market breadth turned negative as 1,929 scrips ended down while 904 scrips finished up. Only 128 stocks ended flat.
"Nifty saw a steep correction followed by higher level of Global and Indian VIX with
Be the first to comment.
