Indices Crash, INR At All-Time Low
Suparna / 16 Aug 2013
The Indian markets witnessed a gap-down opening today, with the Nifty down by 150 points at 5588 and Sensex 456 points lower at 18911. All the sectoral indices are trading in the red zone. Axis Bank has tumbled 8% after the MSCI has said that it would exclude the bank from the standard and large-cap indexes.
The Indian markets witnessed a gap down opening today. The indices are looking bearish in the wake of a negative global scenario. The Nifty has tanked by 150 points to 5588 and Sensex is down 456 points at 18911. Both indices have opened down in the range of 2.2%.
The advance-decline ratio is on the negative side. On the NSE, 1217 shares are trading in gains and as many as 2141 shares are down.
Top Nifty Gainers: Hero MotoCorp is the top gainer for the morning session, up by 0.71 %. HCL Tech and Power Grid were the only other stocks trading positive on the NSE in this gloomy scenario.
Top Nifty Losers: Axis Bank is the top loser so far, down by 7.9%, followed by Bank of Baroda, JP Associates, BHEL and DLF.
Not surprisingly, all the sectoral indices are trading in the red zone. Bankex and Consumer Durables are the highest losers in the morning session, both down by over 500 points. The Capital Goods and Metals indices are down by 290 points and 242 points respectively. Mid-Caps and Small-Caps are trading lower in the range of 90 points.
The Asian shares are also trading negative. The Nikkei market is the top loser for the morning session, down by 102 points, and the Hang Seng has dipped by 79 points. KOSPI and Straits Times are also trading in some losses.
Buzzer: Axis Bank has tumbled 8% after the MSCI has said that it would exclude the bank from the standard and large-cap indexes. The stock has broken a major support around Rs 1070, and if it closes below Rs 1050, it may see more of a downfall.
Nifty Futures have tanked and broken the 5600 level. If it continues below this level, it may remain under selling pressure.
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