Sensex Sheds 2,713 Points, Nifty Below 9,200 At Close; VIX Highest Since ‘08
Closing Bell: Indian Benchmarks End At Three-Year Low
Indian markets ended with major cuts, mirroring weak cues across Asia and Europe.
The S&P BSE Sensex fell 7.96 percent to end at 31,390. This was the lowest level since September 29, 2017. All of the 30 constituents ended with losses, with 24 of them ending at a 52-week low.
The NSE Nifty 50 Index too fell 7.6 percent to close at 9,197. These levels were last seen in April 2017. Barring Yes Bank, all other 49 constituents of the index ended with cuts.
All sectoral indices ended with losses, led by the Metals index, that closed with cuts of 8.9 percent. Nifty Bank, Nifty I.T. & Nifty Realty were the other indices that ended with cuts of 8 percent or more.
Advance decline was firmly in favour of the declines. 1,350 stocks ended with cuts while 224 stocks saw gains at the close of trade.
Sectoral Indices See Sharp Cuts
Indian Markets Extend Sell-Off
DoT Files Plea In SC Over Telecom Dues
India's Department of Telecom has filed a plea in the Supreme Court, seeking permission for telecom companies to pay the entire amount of AGR dues over a period of 20 years, people with knowledge of the matter told Bloomberg.
The plea says that an adverse impact on telecom companies will have a cascading impact on the economy.
Shares of Bharti Airtel Ltd. are trading with cuts of 4.3 percent at Rs 470.40 per share. Vodafone Idea Ltd. on the other hand are trading with gains of 3.57 percent at Rs 5.80 per share.