Sensex Dips By 244 Points, IndusInd Bank Crashes 8%

The India markets witnessed a big fall in mid-market trades. The Nifty is trading at 5983, down by 94 points and Sensex is trading down by 241 points at 20,064. The indices are trading in a negative range of 1.57%-1.21%.

The advance-decline ratio is on the negative side. On the NSE, 1156 shares are trading in green and 2174 shares are in red.

Top Nifty Gainers: Bharti Airtel is leading the gainers’ list so far, up by 1.9%, followed by TCS, Bajaj Auto, Sun Pharma and Cipla.

Top Nifty Losers: IndusInd Bank is leading the losers’ list so far, down by 8.1%, followed by IDFC, Axis Bank, JP Associates and Kotak Mahindra Bank.

On the sectoral front, 11 of the 13 sectors are trading in red in the afternoon trading session. Bankex was the top loser, down by 586 points, followed by Capital Goods and Metals, which were down by 252 points and 170 points respectively. Consumer Durables and Auto were also was down in the range of 130 points. Mid-Caps and Small-Caps were down by 112 points and 82 points respectively.

All the Asian markets are trading on a mixed note from the morning trading session. Nikkei is the top loser for the day, down by 47 points, followed by Shanghai Composite and Taiwan Weighted, which were down in the range of 10 points. However, Hang Seng was positive in the mid-market session, up by 53 points.

Buzzers: IndusInd Bank crashed 8%. The stock made a low below its supports level at Rs 421. If it breaks the Rs 420 level, selling might continue in the further trading sessions.

Nifty made a low at the 5960 level, which is its vital support level. We may see some recovery from the current level.