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Sensex crashes 560 points. Banks and Capital goods bleed

Markets have crashed in trade today with the Sensex losing more than 555 points, as stocks from Capital goods, Banking, Auto and Metal sectors topped the losing strikes.

Sensex loses 560 points. Nifty down by 2.2%

The NSE Nifty index was down by 2.12% at 8148 – down by 180 points. The BSE Sensex was down by 2% at 26879, down by 560 points.

Stocks across sectors have lost severely in today’s trade. Ambuja Cements from the cement space is topping the losers list with nearly 5% losses.

BHEL,NTPC, BPCL, PNB – have all lost nearly 4% and are trading with selling pressure.

NMDC & SSLT from the mineral and metal space have also seen massive selling. Hindalco is seen trading with more than 2% cuts.

Other banking & financial stocks such as Bank of Baroda, Axis Bank, IDFC, Yes Bank – have all seen declines of more than 3% each. ICICI Bank has lost nearly 2.7% at 319. PSU Major SBI has also lost over 2% in today’s trade.

Capital goods major Larsen & Toubro has seen a decline of nearly 2% at 1600.

Bharti Airtel however is the sole gainer on the index with 4% gains. The stock is currently trading at 400 levels.

Although the exact reason for the market crash is not known, analysts are predicting a wave of profit booking in the wake of sell offs seen in the global markets. Many analysts are also of the opinion that this opportunity could be used for entering into the markets.


 

 

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