Markets back to pre-NaMo era, bloodbath worries investors

The Indian markets nosedived in today’s session without a single sign of recovery till the closing session. The Sensex fell by more than 400 points and ended at 24062. The Nifty ended down by 125 points to close at 7309 level. Both the indices closed down by more than 1.5 percent each.

The advance-decline ratio was negative in the closing session. On the NSE, 513 shares closed in the green, while 2071 shares ended the day in the red.

Top 5 Nifty Gainers: Idea Cellular closed the day as the top gainer on the NSE. It managed to close in green on a flat note with a gain of 0.7%. It is followed by Bajaj Auto, HCL Tech, Hero Motocorp and Wipro, which were the others that closed the day on a positive note.

Top 5 Nifty Losers: Vedanta was the top loser, down by 7.5%, followed by Hindalco, Adani Port, PNB and Yes Bank.

The broader indices too witnessed a free fall. Bank Nifty was the top loser for the day, as it lost 406 points. It is followed by the Auto, Metals and Oil & Gas indices which fell more than 250 points each. Also Capital Goods, FMCG and Healthcare saw a fall of more than around 150 points each. Mid-Caps and Small-Caps ended on a negative note, down by 205 points and 214 points respectively. 

On the Asian front, Hang Seng ended the day lower by 749 points, followed by Nikkei which closed in the red, down by 632 points. Taiwan and KOSPI too ended on a negative note.

Buzzers: Most of the heavyweights crashed by more than 4% in today’s trade. PNB was down by 5.7%, followed by SBI (-5.1%), Yes Bank (-5.3%), Hindalco (-5.7%), Aban Offshore  (-5.05%), ABG Shipyard(-6.1%), Allahabad Bank (-5.01%), Bombay Dyeing(-5.2%), Cox & Kings (-6.07%).  

The Bank Nifty hit new one year low and closed at 14730.

The Nifty Future closed below 7320 level which is a negative indicator for further trading session.