Here's how the Markets fared today
Advertisement
Advertisement
Growing fears of a global currency war pushed the The Rupee fell more than 1 percent intra-day, striking its lowest level since September 2013. The India VIX Index, which signifies fear in the market, surged 9.8 percent to 17.44.
Meanwhile, the Nifty fell 109 points close at 8,353 as bears took full control of Dalal Street. Intense, delivery-based selling was seen in the last hour of trade, indicating institutional interest shifting to the negative side. The Nifty's Advance-Decline ratio was 12/38 with Vedanta, Hindalco, Coal India, BPCL and State Bank of India occupying the top 5 slots on the losing side. On the gainer's list were Sun Pharma, Infosys, Tech Mahindra, HCL Tech and TCS: all companies that will benefit from a depreciating rupee.
Traders pressed heavy sales on all major indices such as CNX 100, CNX 200, CNX Midcap, CNX Small Cap and CNX 500. These ended with losses totalling 1.3-2.8 percent.
The Bank Nifty plunged 539 points to 18,078. The trend in other sectoral indices was intensely bearish. CNX Realty, CNX Metals, CNX PSU Bank,and CNX Media Indexes were top losers whereas decent gains were seen on the CNX Pharma and CNX IT Indexes.
Advertisement
On the Bombay Stock Exchange, the
Bears were in full control in the wider market for the fourth day in a row with just 703 stocks gaining ground versus 2,133 fell below friday's closing prices.
The trend remained bearish in the derivatives space with Nifty Futures closing at 8,368, down 123 points. All major sectors reported losses accompanied by a sharp rise in Open Interest. The only sector to show gains was the software space. The Advance-Decline Ratio favoured the bears with a ratio of 19/142 in the futures and Options market.
Muted earnings growth was reported by IDBI Bank and City Union Bank. Divi's Labs, NIIT Technologies, Ashok Leyland and Ajanta Pharma hit fresh highs. Jain Irrigation, Ramco Cements and Zodiac Clothing Company figured in the list of top traded stocks.
Image credit: Indiatimes
Advertisement
Advertisement
- Exploring the world on wheels: International road trips from India
- 10 worst food combinations you must avoid as per ayurveda
- Top seeds that keep you cool all summer
- 8 mouthwatering mango recipes to try this season
- India's hidden gems where the thermometer doesn't cross 20 degrees