As many as 10 shares below Rs 100 gained up to 20% on Monday as the key equity index Sensex trimmed another 310 points amid the extended sell-off in the equity markets for the second straight day after Friday's bloodbath.
As many as 10 shares below Rs 100 gained up to 20% on Monday as the key equity index Sensex trimmed another 310 points amid the extended sell-off in the equity markets for the second straight day after Friday’s bloodbath. Shares of about 10 companies registered a rise from 10 to 20% while most of the remaining equities continued to tumble after heavy wipe-out on Friday last week. Indian stock markets finished lower on Monday with the headline indices Sensex and Nifty closing in red for the fifth straight day following the global sell-off in equity markets. BSE Sensex fell as much 309.59 points or 0.88% to end at 34,757.16 and NSE Nifty washed off 94.05 points or 0.87% to settle at 10,666.55.
Shares of Bothra Metals and Alloys rose 20% to Rs 13.5; Solitaire Machine Tools gained 19.98% to Rs 66.65; Transchem went up 17.94% to Rs 37.15; Raminfo advanced 14.09% to Rs 37.25; Bodhtree Consulting jumped 13.45% to Rs 91.95 and Millitoons Entertainment saw an increase of 9.69% to Rs 40.2. Other major gainers were, Premier Polyfilm up 9.94% at Rs 39.25; Mukesh Babu Financial Services up 10% at Rs 87.7, SRG Securities Finance up 9.93% at Rs 39.85 and Mahamaya Steel Industries up 9.78% at Rs 78.6.
Meanwhile, during the day, the S&P BSE Sensex plunged 545.95 points to hit a day’s low of 34,520.8 whereas NSE Nifty plummeted 173.8 points to hit a day’s low of 10,586.8. Investors sentiments seemed to have jolted down by uncertainties over US job market, the introduction of a tax on LTCG on equity over Rs 1 lakh in India which has led to a sell-off in domestic equities. The market activity was also subdued ahead of RBI’s repo rate decision due on 7 February 2018.
The benchmark Sensex opened at 34,718.85, down by 347.9 points while the wider share indicator Nifty started 156.3 points lower at 10,604.3. A market-wide sell-off pattern was observed in the Indian equities with most of the broader market indices and sectoral indices settling down in red. Among the broader market indices of National Stock Exchange, other than Nifty 50 index, Nifty Next 50, Nifty 100, Nifty 200, Nifty 500, and Nifty Mid100 Free lost up to 0.8% while Nifty Midcap 50 and Nifty Sml100 Free rose up to 0.8%. On the other hand, seven out of 11 sectoral indices of NSE concluded in red with Nifty Bank, Nifty Fin Service, and Nifty Pvt Bank index shedding the most while Nifty PSU Bank, Nifty Pharma and Nifty Auto ended in green. Going ahead in the week after the Budget 2018, Indian stock markets are likely to be steered by RBI repo rate decision, third-quarter earnings of blue-chip companies such as PNB and Cipla.