Selling Across The Board As Nifty, Sensex End 2% Lower
Markets At Close
- Benchmark indices end near the lowest point of the day
- Nifty ends 2.1% lower at 9,902
- Sensex ends 2.07% lower at 33,538
- Nifty Bank ends 2.72% lower at 20,525
- Nifty Midcap Index ends 1.3% lower
- Nifty Smallcap Index ends 0.8% lower
- India Volatility Index ends 1% higher at 29.72
- All sectoral indices end with losses
- Nifty PSU Bank ends as top sectoral laggard; down 3.9%
- IndusInd Bank ends as the top Nifty gainer; up 4.3%
- Bharti Infratel ends as the top Nifty laggard; down 8.9%
- 668 stocks on the NSE end with gains while 1,134 end with losses
Contributing To Nifty's Losses
Closing Bell: A Weak Day Of Trade
Indian equity markets were not insulated from the sell-off in global equities as benchmark indices posted their biggest single-day drop in three weeks.
Both the S&P BSE Sensex and the NSE Nifty 50 index ended 2.1% lower at 33,538 and 9,902 respectively. Benchmark indices have fallen back into the bear market territory after a rally that took them to within 18% of their all-time high levels.
All sectoral indices ended with losses led by the Nifty PSU Bank index that ended with cuts of nearly 4%. The Nifty Bank index finished 2.7% lower.
Among other sectoral indices, Nifty Auto, Nifty Metal, Nifty Pharma and Nifty Realty ended over 2% lower while the Nifty FMCG and the Nifty I.T. ended 1.3-1.5% lower.
Market breadth turned adverse towards the second half of the trading day. 668 stocks on the NSE ended with gains while 1,134 posted losses.
Stock Update: Zee Entertainment
- Second worst performer on the Nifty 50 index
- Falls as much as 7.7% to Rs 175.1
- Down for the fourth straight day
- Longest losing streak in over two months
- Down 14.7% in the last four sessions
- Today's volumes are 0.8 times higher than its 30-day average
- Breaks below its 100-Day Moving Average at 194
- 14 out of the 28 analysts tracking the stock have a buy recommendation; 5 sell calls
- Return potential for the stock as per Bloomberg data is 8.7%
Active Stock Options
- IndusInd Bank's 600 Call: Premium up 29.2% to Rs 23.45. The contract has added 2.83 lakh shares in Open Interest.
- Bharti Airtel's 600 Call: Premium falls 28% to Rs 8.2. The contract has added 8.1 lakh shares in Open Interest.
- State Bank of India's 200 Call: Premium down 40.6% to Rs 3.15. The contract has added 29.8 lakh shares in Open Interest.