Sensex and Nifty crash in trade

Indian markets came in for fresh bout of selling pressure as both the benchmark indexes came in for huge sell-off in today’s trade as both BSE Sensex and Nifty crashed by more than 650 and 200 points in trade.

Markets saw a secular sell-off in today’s trading session as all the sectoral indices were trading down. Off the 30 Sensex stocks 29 were trading in red except for Sun Pharma which was trading with gains owing to strong Q2 results.

Benchmark Nifty was also down by more than 200 points to trade at 8320 at the time of writing this report.

Market sell-off has been owing to the fear of short-term economic activities being negatively affected by the government's move to ban high denomination notes and remove it from the system and issue new notes.

Investors fearing demand slow-down made the shares tank in trade.

Biggest losers: -

Adani Ports- 7 %
Yes Bank – 5.5 %
Eicher Motors- 5.3 %
ICICI Bank- 5 %
UltraTech Cement- 4.8 %