Markets Crash Over Rate Cut, Bankex Down 5%
Suparna / 20 Sep 2013
The RBI policy disappointed the market sentiment in mid-session today. The Nifty is down by 171 points at 5945 and Sensex has lost 564 points to trade at 20080. Banking stocks were hammered strongly
The RBI policy disappointed the market sentiment in mid-session today. The Nifty is down by 171 points at 5945 and Sensex has lost 564 points to trade at 20080. Both the indices are trading lower in the range of 2.5%-2.8%.
On the NSE, the advance-decline ratio is weaker, trading with 1265 advances and 2083 declines.
Top 5 Nifty Gainers: HCL Tech is leading the gainers list so far, up by 3.8%, followed by GAIL, Lupin, Sun Pharma and Power Grid Corp.
Top 5 Nifty Losers: DLF has dipped by 11.1%. Other stocks trading lower are IndusInd Bank, PNB, IDFC and JP Associates.
11 of the 13 indices are trading in negatives. Bankex remains the top loser, trading down by 701 points. The Auto index has lost 265 points, Metals is down 221 points and Capital Goods is trading 210 points lower. Mid-Caps and Small-Caps are in negatives by 57 points and 92 points respectively.
Of the Asian markets, the Nikkei is down by 23 points, while the others are closed today.
Buzzers: Banking stocks, which had outperformed yesterday, were hammered in mid-session today. IndusInd Bank and YES Bank are both down by 8%, PNB and Bank of Baroda have lost 6%, while SBI, Axis Bank and ICICI Bank are 5% lower.
Nifty Futures broke though all the vital supports and are trading below 6000, indicating more panic selling below this level.
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