Mayhem in stock markets
The markets reports fresh 52-week lows at close on Thursday after Fed Chairperson said the global economic turmoil and massive global equity sell-off will impact US economy.
Both benchmarking indices hit fresh lows
Mumbai: The markets reports fresh 52-week lows at close on Thursday after Fed Chairperson said the global economic turmoil and massive global equity sell-off will impact US economy.
The investors are most confused lot today, as both the benchmarking indices breached psychological levels. Although, earlier market assumed that the Nifty may not fall below 7,200 level, but it now looks as if it may even plunge further and may stop at the 6,500 level.
The street-fall has made the investors poorer by over Rs 3 lakh crore in one day amid a massive sell-off in banking shares and worriers over global economic slowdown.
Sensex down by 807 points to end at 22,952 and Nifty fell 239 points to close at 6,976. Both the indices have lost over 3 per cent each. Even midcap and smallcap shares bled with their indices slumped 3 - 4 per cent. All sectoral indices closed in red led by metal (-4.39%), energy (-3.96%), bank (-3.84%) etc.
While SBI declined by 3.5 per cent after it posted a fall in its net profit, followed by ONGC and Coal India between 3.5 per cent 4.7 per cent, Tata Motors down by 4 per cent.
The gainers: Cipla, up 0.40 per cent at Rs 541 and Dr Reddy's Lab, up 0.01 per cent at Rs 2,887.
The losers: Adani Ports, down 6.94 per cent at Rs 188.50; BHEL, down 6.01 per cent at Rs 120.35; Tata Motors, down 5.55 per cent at Rs 275.65; ONGC, down 5.23 per cent at Rs 202.80; and Mahindra and Mahindra, down 4.93 per cent at Rs 1,126.