Explorer

Share Market Update: Sensex Tanks 800 Pts In Worst Fall Since June, Nifty At 10,788

Domestic benchmark indices BSE Sensex and NSE Nifty on Tuesday witnessed a sharp decline tracking a heavy selling in selling in financial and automobile stocks.

Share Market Update: Domestic benchmark indices BSE Sensex and NSE Nifty on Tuesday witnessed a sharp decline tracking a heavy selling in selling in financial and automobile stocks. According to reports, the 30-share BSE index slipped 811 points or 2.17 per cent to 36,521 in late afternoon deals whereas the Nifty tanked 235 points or 2.13 per cent lower to 10,788. India currency also suffered a big loss against the US dollar. The rupee slumped 103 paise to 72.37 against the US dollar today, as compared to the previous close of 71.40. In Sensex camp, ICICI Bank, HDFC, Tata Steel, ONGC, Tata Motors, Mahindra and Mahindra and Axis Bank were among the top losers with their stocks dipping down by as much as 3.28 per cent. The decline in today's stocks came days after a government data showed that the country's economic growth fell to over six-year low of 5 per cent against an estimate of 5.7 per cent. Analysts also believe that a weakening economic growth along with escalating US-China trade frictions are hurting the market sentiment. Sectorally, all indices except IT sector were trading on a bearish note, with highest fall registered in PSU banking declining over 4.89 per cent. Further metal stocks followed the trending by slipping over 3 per cent fall and over 2 per cent decline was registered in financials, banking, media and realty indices. Punjab National Bank, United Bank of India and Indian Bank sank 8.5 per cent-11.7 per cent after the government announced a series of mergers involving 10 public sector banks. Private-sector lender ICICI Bank Ltd fell 4.3 per cent, its sharpest drop since mid-May, while index heavyweight Reliance Industries Ltd dropped 3.4 per cent to a near four-week closing low. According to a government data released on Monday, growth of eight core industries dropped to 2.1 per cent in July, mainly due to contraction in coal, crude oil and natural gas production. The eight core sector industries - coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- had expanded by 7.3 per cent in July last year.
View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

Delhi Elections: Congress Releases Second List Of 26 Candidates
Delhi Elections: Congress Releases Second List Of 26 Candidates
President Appoints Governors In 5 States, Ajay Bhalla Named Manipur Guv, Arif Mohammed Khan Shifted To Bihar
President Appoints Governors In 5 States, Ajay Bhalla Named Manipur Guv, Arif Mohammed Khan Shifted To Bihar
5 Jawans Killed After Army Vehicle Falls Into Gorge In J&K's Poonch, Several Others Injured
5 Jawans Killed After Army Vehicle Falls Into Gorge In J&K's Poonch, Several Others Injured
Delhi Pollution: GRAP-4 Measures Revoked As Air Quality Improves Amid Light Rains
Delhi Pollution: GRAP-4 Measures Revoked As Air Quality Improves Amid Light Rains
Advertisement
ABP Premium

Videos

Manu Bhaker expresses disappointment after not being included in Khel Ratna Award listKumar Vishwas targets Shatrughan Sinha family, sparks controversy with remarks on RamayanaDelhi Govt. issues guidelines regarding illegal Bangladeshi student admissions in schoolsSambhal News: Shahi Jama Masjid survey report won't be presented today, technical revisions ongoing

Photo Gallery

Embed widget