Sensex crashes 505 points to 37,585 on rupee woes, global worries; Nifty ends below 11,400-mark
After rallying for two sessions, the BSE benchmark Sensex on Monday tumbled over 505 points to slip below the 38,000-level as worries about global trade war and prevailing rupee crisis dampened investors mood despite the government announcing steps to stem a steep fall in the Indian currency
Mumbai: After rallying for two sessions, the BSE benchmark Sensex on Monday tumbled over 505 points to slip below the 38,000-level as worries about global trade war and prevailing rupee crisis dampened investors mood despite the government announcing steps to stem a steep fall in the Indian currency.
The broader Nifty too nosedived over 137 points to end below the 11,400-mark. Subdued Asian and European markets due to escalating trade war between the US and China mainly led to a caution on domestic bourses, brokers said. The government Friday announced an array of steps, including removal of withholding tax on Masala bonds, relaxation for FPIs and curbs on non-essential imports to contain the widening CAD and check the rupee fall.
The Indian currency once again breached the 72-mark to hit a low of 72.69 (intra-day) against the US dollar. The BSE 30-share barometer, after a lower start at 38,027.81, quickly cracked the 38,000-mark to hit a low of 37,548.93 on across-the-board selling in recent gainers and finally settled 505.13 points, or 1.33 percent, down at 37,585.51.
The gauge had gained 677.51 points in the previous two sessions.
The NSE Nifty hit a low of 11,366.90 and finally ended 137.45 points, or 1.19 percent, down at 11,377.75.
Financials, led by HDFC twins HDFC Ltd and HDFC Bank, emerged as the biggest draggers of the session, pulling down the key indices from their key levels.
Meanwhile, on a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 1,090.56 crore, while domestic institutional investors (DIIs) made purchases to the tune of Rs 115.14 crore on Friday, provisional data showed.
Market Roundup: Sensex, Nifty make swift recovery after three-day slide; today's top gainers and losers
At the clsoing bell, the BSE Sensex was up 209.36 points or 0.40 percent at 52,653.07 while the NSE Nifty50 gained 69.05 points or 0.44 percent to close at 15,778.45
Market Roundup: Sensex, Nifty skid for third day as bank stocks tumble; today's top gainers and losers
After plummeting over 700 points in intra-day trade, the 30-share BSE Sensex clawed back some lost ground to end 135.05 points lower at 52,443.71, while the NSE Nifty slipped 37.05 points to close at 15,709.40
Tata Steel, Bajaj Finserv and SBI were among the top gainers at both the BSE Sensex and NSE Nifty50 whereas Dr Reddy and Axis Bank were among the top losers in both the indices