INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Extending its losses to the second consecutive session, headline indices Sensex and Nifty suffered massive losses on Tuesday on
all-round selling as the rupee hit a fresh record low.
Lingering trade war worries, wobbly crude oil prices and turmoil in emerging markets
Sensex settled 509 points, or 1.34 per cent, down at 37,413 while Nifty plunged 151 points, or 1.32 per cent, to close at 11,287.
FMCG,
telecom and consumer durables stocks were worst hit
Pharma, auto, bank and financial also reeled under selling pressure.
Domestic equity investors have lost around Rs 4,14,121.84 crore in two
sessions as the Sensex erased about 977 points and the Nifty 302 points
Broader BSE Midcap (down 1.36 per cent) and Smallcap (down 1.37 per cent) indices fell in sync with Sensex
Let’s walk you through the key highlights of the session:Who dragged the SensexTata Steel, falling 3.46 per cent, was the top loser in
PowerGrid, Hero MotoCorp and Tata Motors suffered losses of over 3 per cent each
In terms of index contribution, HDFC Bank, ITC, RIL, ICICI Bank and TCS were the top index losers while Coal India (up 1.73 per cent), NTPC
(up 0.36 per cent), Infosys (up 0.31 per cent), Mahindra Mahindra (up 0.26 per cent) and Asian Paints (0.26 per cent) were the five stocks
that managed to end with gains
Mayhem in the currency martAfter recovering in the morning session, the rupee saw sharp a drop in afternoon deals and traded 19 paise down
Turmoil in emerging markets, firming US dollar and a surge in crude oil prices put pressure on the domestic currency
The relentless slide in the rupee has analysts rushing to rework their forecasts
DBS Bank is now predicting the domestic unit to slip as low as 75 to the dollar.
China stocks near 2016 lowThe Shanghai Composite slipped
0.18 per cent in Tuesday’s session to touch the low of 2016
Worries of an ever-intensifying trade war between China and the US have dealt a heavy blow to Chinese stocks
After the US President announced on Friday that China may face tariffs on virtually all exports to the US, China warned retaliation
Stocks that plunged over 10% on BSEShares of GTN Industries (down 19.29 per cent), The Indian Wood Products Company (down 17.50 per cent),
Span Divergent (down 13.76 per cent), Chandni Textiles Engineering (down 12.68 per cent), Globus Spirits (down 10.89 per cent) and Usha
Martin (down 10.88 per cent) tanked over 10 per cent on BSE.
52-week highs lowsAs many as 96 stocks, including BPCL, Dhanlaxmi Bank, GIC
Housing Finance, Manappuram Finance and Jaiprakash Associates, hit 52-week lows on NSE, while 19 others, including Mindtree, Albert David,
Electrosteel Steels, Gangotri Textiles and GlaxoSmithKline Pharmaceuticals, hit 52-week highs.
Oversold overbought stocksRSI chart showed
seven stocks - GIC Housing, Gayatri Highways, Shankara Building, GlaxoSmithKline Pharma, Jindal Worldwide, Insecticides (India) and Shreyas
Shipping - entered the oversold zone
Seven others including Wipro, RattanIndia Infra, Lloyds Steels, Sree Rayalaseema, Praxis Home Retail, SORIL Infra Resource and MRO-TEK
Realty have entered the overbought zone
MACD bearish on 90 countersMomentum indicator moving average convergence divergence, or MACD, showed bearish crossovers on 90 counters on
NSE, including Sun Pharma, Vedanta, Tata Power and CESC
Meanwhile, 25 stocks, including Dwarikesh Sugar, Dhampur Sugar, Mercator and Prabhat Dairy showed bullish crossovers on NSE
