Stock Market

After Market: Rs 4,15,000 cr gone in 2 sessions; big losers and top gainers

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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 weighed on sentiments.

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 the 30-share index.

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 at 72.63 around 3.55 pm.

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.




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