Jubilee Post News & Views
Jubilee News Desk
Days before the union budget the benchmark equity index BSE Sensex closed 937.66 points down at 47,409.93 on Wednesday. It had plunged over 1000 points at one point of time and failed to recover from it by the day’s closing.
On the BSE, Chennai Petroleum (down 19.97 per cent) , RO Jewels (down 19.70 per cent) , Bonlon Industries (down 13.88 per cent) , Filtra Consultants (down 13.10 per cent) , Astec Lifesciences NSE -11.22 % (down 11.33 per cent) , Atam Valves (down 11.14 per cent) , Sir Shadilal (down 10 per cent), Aptech (down 9.92 per cent).
Sensex fell over 1,000 points in afternoon trade amid across the board selling, especially in market heavyweights. The sell-off came a day ahead of January derivatives expiry on Thursday. On Sensex, top losers were Dr Reddy’s, IndusInd Bank and Axis Bank falling up to 4.41%.
Of 30 Sensex stocks, 25 were trading in the red. On Nifty, Tata Motors was the top loser falling 4.44% to Rs 266.75. Tata Steel, Titan and IndusInd Bank were other losers falling up to 4.28% on the 50-stock index.
With today’s correction, Sensex and Nifty have turned negative on a year-to-date basis. Market cap on BSE fell to Rs 189.27 lakh crore. While Sensex crashed 1,078 points intra day to 47,269, Nifty lost 309 points to 13,929.
Banking stocks led the losses with Bank Nifty tumbling 1,033 points to 30,165 against previous close of 31,198. Consumer durables stocks too joined the crash with the BSE index falling 552 points to 30,250.
The biggest and the most infamous fall for the Sensex was on March 23, when it nosedived 3,934 points, or 12.71 per cent, in a single day. That day, the index hit the lower circuit limit for the first time in its history.
