Indices Bleed: Sensex, Nifty Tanks Around 6%

The Indian markets nosedived in today’s session without a single sign of recovery till the closing session. The indices like Bankex, Auto, Healthcare and Capital Goods sunk more than 1000 points each. The Sensex fell by more than 1600 points and ended at 25710. The Nifty ended down by 500 points to close at 7800 level. Both the indices closed down by more than 6.1 percent each.

The advance-decline ratio was in the negative in the closing session. On the NSE, 269 shares closed in green, while 2473 shares ended the day in red.

Top 5 Nifty Gainers: No gainer for today’s session.   

Top 5 Nifty Losers: Vedanta was the top loser, down by 16.17%, followed by GAIL, Tata Steel, Cairn India and ONGC.

The broader indices too witnessed a free fall. Bank Nifty was the top loser for the day, as it lost 1514 points. It is followed by the Auto and Healthcare indices which fell over by 1350 points and 1210 points respectively. Also Capital Goods and Healthcare saw fall of more than 1000 points each. Mid-Caps and Small-Caps ended on negative note down by 999 points and 842 points respectively. 

On the Asian front, Hang Seng ended the day lower by 1158 points followed by Nikkei which closed in red down by 895 points. Taiwan and KOSPI too ended on a negative note.

Buzzers: Most of the heavyweights crashed by more than 5% in today’s trade. Tata Steel was down by 15%, followed by PNB (-10.7%), IndusInd Bank (-5.3%), Yes bank ( -9.5), Axis Bank (-9.04%), ICICI Bank (-8.9%), SBI (-8.5%), Tata Motors (-9.5%), L&T (-7.5%), Hindalco (-9.03%).

The Bank Nifty hit new one year low of 16680 and closed around the same level.

The Nifty Future closed around 7800 level which is a bearish indicator for further trading sessions.