Free Press Journal

Nifty cracks 8,000-mark, slides 5.92 pc


Sensex Red downSensex Red down

Mumbai: The benchmark Nifty today breached the crucial 8,000-level following voluminous broad-based sell-off mirroring the global development in financial markets. The black Monday saw the benchmark Nifty diminished to end by 7,809.00 by lossing a massive 490.95 points or 5.92 per cent at the National Stock Exchange (NSE). The sentiments were sombre despite positive statements from Finance Minister Arun Jaitley and RBI Governor Raghuram Rajan that economic fundamentals remained strong and the current market catastrophe would soon to settle down.

The struggling China’s stocks crashed near 9 per cent despite using every resources in its capacity to alter the down turn, resulting stocks falling across the continents with Asian shares slumping to 3 year lows and European stocks trading 3.4 per cent down even as falling currencies, crude and commodities led to a worst fear of falter in economies.

The index opened down-gap and dipped further to 7,769.40 during intraday before ending in deep red. Sectorwise, Realty dipped 11.08 per cent followed by PSU Bank 9.35, Energy 8.31 per cent, Media 8.05 per cent, Commodities 7.52 per cent, Auto 7.26 per cent, Metal 7.05 per cent, Bank 6.90 per cent, Financials 6.55 per cent, Pharma 6.06 per cent, IT 4.80 per cent and FMCG 4.65 per cent.

While the the broader midcap and smallcap also tanked 10.89 per cent and 10.61 per cent respectively. The broader 50-share Nifty opened gap-down 8,055.95 and traded between a high of 8,060.05 and a low of 7,769.40 before finishing at 7,809.00 showing a fall of 490.95 points, or 5.92 per cent over its last close.

Stockwise, major losers were VEDL (14.27 per cent), Cairn (13.23 per cent), Tata Steel (13.13 per cent), GAIL (12.20 per cent), ONGC (11.04 per cent), Yes Bank (9.02 per cent), Cipla (8.83 per cent), ICICI Bank (8.95 per cent), Reliance (8.63 per cent), SBIN (8.26 per cent) and Axis Bank (8.23 per cent), L&T (6.23 per cent).

Turnover in the cash segment jumped to Rs 27,890.41 crore compared to Rs 19,547.20 crore yesterday. A total of 13,777.70 lakh shares changed hands in 11,521,827 trades and the total market capitalisation of NSE stood at Rs 9,232,918 crore.