INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The bears continued to hammer Indian shares on Dalal Street all through Tuesday, leaving investors no place to hide.
Banks and
financials were the most affected, as ICICI Bank and IndusInd Bank fell nearly 9 per cent each
Bajaj Finance and HDFC also came crashing down.
BSE benchmark Sensex tanked 810 points to 30,579 after trading better part of the day in the
NSE’s Nifty50 saw a 230-point slide to end at 8,967
The index closed below the 9,000 mark for the first time in three years.
“Markets across the globe are witnessing high volatility and the
recent stimulus measures have failed to assuage investor fears
The domestic market will continue to follow global cues and further downside cannot be ruled out in the near term
We advise market participants to avoid risky bets and start investing in a phased manner,” Ajit Mishra, VP for Research, Religare
Broking.
Here is a lowdown of the movers and shakers of Tuesday’s session on Dalal Street:10% down in two sessionsBenchmark equity indices
have tanked about 10 per cent in last two sessions
BSE Sensex has tumbled 10.33 per cent while its NSE counterpart Nifty 50 has dropped 9.93 per cent.
Nifty Bank at 3-year lowBank stocks have
been on the forefront of the current selloff
Nifty Bank fell 4.10 per cent on Tuesday to end at 22,155, a three-year low
IndusInd was the biggest loser on the index, falling 9.20 per cent to Rs 603
Federal bank and ICICI Bank fell more than 8 per cent each
YES Bank roarsYES Bank shares continued their dream run, jumping 59.30 per cent to Rs 59.10 as the bank unveiled plans for a complete
The stock has gained 136 per cent in last three sessions
The bank is set to resume normal operations from Wednesday.
Zee at an eight-year lowShares of Zee Entertainment crashed 20.05 per cent to Rs
133 after ED summoned Essel Group founder Subhash Chandra as part of its probe into YES Bank
The ED has alleged that many companies, including the Essel Group, borrowed money from Yes Bank by giving kickbacks to former CEO Rana
Kapoor.
ICICI Bank at 1-year lowShares of ICICI Bank crushed under selling pressure
The stock fell 8.92 per cent to Rs 366, a one-year low
It was the biggest loser in the 30-share Sensex pack.
HDFC at 17-month lowMortgage lender HDFC also faced the full force of the bear
hammering and the stock dipped 4.66 per cent to Rs 1,755.85, falling to a 17-month low
The stock is now down 27 per cent year to date.
VIX continues it riseFear gauge, India VIX, continued to spike
The barometer of volatility in the market added 6.81 per cent to 62.88
This means traders expect relatively higher volatility in the market going ahead.
Alembic Pharma receives EIRAlembic Pharmaceuticals said it
has received an EIR from the US health regulator after inspection of its active pharmaceutical ingredient (API) facility at Karakhadi in
The scrip gained 1.3 per cent to Rs 543.90.
Sun Pharma announces buybackDrug major Sun Pharmaceutical Industries said its board has approved
a Rs 1,700 crore share buyback offer at a maximum price of Rs 425 per share
It will buy 4 crore shares as per the plan
Shares of the company gained 0.66 per cent to Rs 371 following the news.
Rs 27 lakh crore wiped out in MarchMarch madness in the equity
market has left investors poorer by Rs 27 lakh crore
On Tuesday, the market capitalisation of BSE-listed firms came down by Rs 2.11 lakh crore to Rs 119.52 lakh crore.
105 stocks
‘oversold’Over 100 shares turned ‘oversold’ on BSE as they crossed below the 30 mark on RSI
They included Jaiprakash Associates, RattanIndia Power, Muthoot Finance, IRCTC, Gujarat Gas, Trent, Tata Elxsi, Saboo Sodium, Nippon Life
AMC and Mercator, among others.