Sensex, Nifty End 6% Lower Dragged By Private Banks, I.T.
A bear statue stands outside the Frankfurt Stock Exchange, operated by Deutsche Boerse AG, in Frankfurt, Germany. (Photographer: Alex Kraus/BloombergTopics)

Sensex, Nifty End 6% Lower Dragged By Private Banks, I.T.

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Markets At Close

  • Benchmarks post biggest one-day drop in over a month
  • Nifty ends 5.7 percent lower at 9,293
  • Sensex ends 5.9 percent lower at 31,715
  • Nifty Bank ends 8.3 percent lower at 19,743
  • Nifty Midcap Index ends 4.4 percent lower
  • Nifty Smallcap Index ends 3.2 percent lower
  • India Volatility Index ends 28.7 percent higher at 43.74, its biggest one-day jump since March 12 this year
  • Nifty Auto, Nifty Metal and Nifty Realty end with cuts of over 7 percent
  • Nifty I.T., Nifty Media and Nifty FMCG fall 4 percent each
  • Cipla ends as the top Nifty gainer; up 3.7 percent
  • Only 3 Nifty constituents end with gains
  • Hindalco ends as the top Nifty laggard; down 10.7 percent
  • 1,399 stocks on the NSE ended with losses while 424 posted gains

Drags On The Nifty & Sectoral Picture

Closing Bell: Sell In May And Go Away?

Indian equity markets registered their biggest one-day drop in over a month owing to weak global cues and poor macro data domestically.

The S&P BSE Sensex ended 5.9 percent lower at 31,715. Only 2 out of the 30 index constituents managed to register gains at the close of trade.

The NSE Nifty 50 index gave up half of the gains made during the previous week, ending at 9,293, down 5.7 percent. 47 out of the 50 index constituents ended with losses.

Among sectoral indices, the Nifty Bank was the principal underperformer, ending 8 percent Lower. Nifty Auto, Nifty Metal and Nifty Realty ended with cuts of over 7 percent.

What Next For The Indian Markets?

Stock Update: Bank Of Baroda

  • Trades at the lowest level since March 2009
  • Falls as much as 7.5 percent to Rs 45.5
  • Snaps four-day gaining streak
  • Biggest one-day fall in a month
  • Fitch Ratings has downgraded the viability rating on the stock to BB-
  • Down 68 percent from its 52-week high of Rs 144 on May 23, 2019
  • Today's volumes are 0.9 times higher than its 30-day average
  • 18 out of the 36 analysts tracking the stock have a buy recommendation; 6 sell calls
  • Return potential of the stock as per Bloomberg data is 73.3 percent

Stock Update: Bajaj Finance

  • Third worst performer on the Nifty 50 index after Hindalco and ICICI Bank
  • Falls as much as 12.5 percent to Rs 2,028
  • Biggest one-day fall in a month
  • Snaps four-day gaining streak
  • Today's volumes are 0.9 times higher than its 30-day average
  • Trades below all Daily Moving Averages
  • 20 out of the 31 analysts tracking the stock have a buy recommendation; 4 sell calls
  • Return potential of the stock as per Bloomberg data is 54.4 percent
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