Indian equity markets opened lower on Wednesday with the Sensex dropping 149.31 points to 80,535.14 and the Nifty 50 slipping below 24,300. Banking, auto, and energy sectors saw significant losses while IT stocks showed resilience.
BSE Sensex opened over 100 points down, while Nifty50 traded above 24,650 on Monday. Global economic data, including GDP figures from major economies and CPI data from India, will shape market sentiment this week.
Stock Market crash: The market capitalisation of all the companies listed on the BSE plunged Rs 9.8 lakh crore to Rs. 435.1 lakh crore on Friday. And the benchmark BSE Sensex fell 663 points, or 0.83 per cent, to end the day below the 80,000 mark at 79,402.
In the broad stock market indices, all indices including Nifty Next 50, Nifty 100, Nifty Midcap, and Nifty Small cap declined around 2 per cent during the opening session.
The RBI announced its decision to keep the repo rate unchanged for the sixth consecutive time at 6.50 per cent.
Banking shares faced significant selling pressure as all 12 Nifty Bank index constituents traded with cuts. The selling activity was triggered by negative commentary on HDFC Bank's below-par third quarter figures, impacting sentiment across the sector.
Earlier this week, rating agency Fitch reduced India's projected gross domestic product growth for the current fiscal year from 7.8% to 7% due to a slowdown brought on by increased inflation, global economic stress, and tighter RBI monetary policy.
The Sensex tanked 482.61 points or 0.81 per cent to settle at 58,964.57. During the day, it tumbled 552.78 points or 0.92 per cent to 58,894.40.
All Sensex constituents were trading with hefty losses, with Airtel, IndusInd Bank, Tech Mahindra and and SBI suffering the most dropping as much as 8 per cent.
The 30-share index tanked 1,158.63 points or 1.89 per cent to close at 59,984.70. Similarly, the broader NSE Nifty plummeted 353.70 points or 1.94 per cent to 17,857.25.
The 30-share Sensex was trading 500.67 points or 0.85 per cent lower at 58,625.69. Similarly, the Nifty declined 150.40 points or 0.85 per cent to 17,467.75.
The 30-share BSE Sensex sank 983.58 points or 1.98 per cent to finish at 48,782.36. The broader NSE Nifty tanked 263.80 points or 1.77 per cent to 14,631.10.
Equity benchmark Sensex declined over 300 points in early trade on Friday, tracking losses in index majors HDFC twins, ICICI Bank and Infosys amid concerns that the second wave of COVID-19 pandemic may derail the economic recovery of the country.
The 30-share BSE index was trading 325.15 points or 0.65 per cent lower at 49,726.29, and the broader NSE Nifty declined 94.60 points or 0.64 per cent to 14,720.15.
Trading has been suspended for 45 minutes after Sensex crashed over 3,000 points to 30,229.20 whereas Nifty was down by 960 to 8,860.20 in the opening session. For the third consecutive day, markets opened in losses amid a worldwide coronavirus scare and its impact on the global economy.
The rupee on Monday slipped past the 74-level against the US dollar to settle at 74.14 (provisional), down 27 paise tracking heavy selling in domestic equity market amid rising concerns over coronavirus-led economic slowdown.
After swinging over 300 points in early session, the 30-share BSE index was trading 125.45 points or 0.32 per cent lower at 39,610.08, and the broader NSE slipped 21.30 points, or 0.18 per cent, to 11,640.55.
The BSE benchmark Sensex crashed by nearly 788 points and the NSE Nifty tumbled around 234 points on Monday as heightened tensions in the Middle East kept investors on edge. The 30-share BSE index ended at 40,676.63, dropping of 787.98 points, or 1.90 per cent.
The 30-share index was trading 147.66 points, or 0.40 per cent, lower at 36,975.65 at 0930 hours, while the broader Nifty fell 43.30 points, or 0.39 per cent, to 10,960.20.
The BSE benchmark Sensex crashed nearly 770 points and the NSE Nifty tumbled over 225 points on Tuesday due to panic sell-offs across the board as investors fretted over deepening economic crisis and ever-lasting global trade tussle.
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