BSE Sensex crashed 2,507.16 points or 3.10% to trade at 78,474.79 as of 11:32 am, and Nifty fell 751.85 points or 3.04% to trade at 23,965.85, driven by concerns that the United States could be headed for a recession and increasing bets that the Federal Reserve will likely need to start cutting interest rates aggressively.
India VIX rose 46.68% to 21.01.
All sectoral indices traded in the negative territory. Nifty metal plunged 5.02% to trade at 8,847.20 as at 11.39 am, Nifty realty dropped 4.86% to 986.75, and Nifty PSU Bank fell 4.76% to 6,854.60.
Nifty smallcap 100 declined by 4.57% to 17,941.45 and Nifty midcap 100 fell by 3.87% to 55,672.30.
The major gainers on the NSE as at 11.40 am were Britannia (1.86%), Hindustan Unilever (0.85%), Tata Consumer Products (0.70%), Nestle India (0.59%), and Sun Pharma (0.27%). Tata Motors (-5.67%), Infosys (-5.40%), ONGC (-5.30%), Tech Mahindra (-4.99%), and Hindalco (-4.71%) were the major laggards.
As of 11.44 am, 4,042 stocks were traded on the BSE, of which 3,401 declined, 536 advanced, and 105 remained unchanged. One hundred seventy-eight stocks hit a 52-week high, and 57 hit a 52-week low. In addition, 503 stocks traded in the lower circuit and 229 in the upper circuit.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.