Sensex tanks over 3%, Bank Nifty tumbles 1,650 pts; bloodbath on D-St wipes out Rs 8 lakh cr investor wealth

1 month ago 14

BSE Sensex and Nifty 50 plunged implicit 3 per cent connected Monday arsenic fearfulness of stricter lockdown to curb the 2nd question of COVID-19 dented investors' sentiment.

sensex, Nifty, banal  marketAmid panic selling, the full marketplace headdress of BSE-listed companies tumbled by astir Rs 8 lakh crore to Rs 201 lakh crore astatine close

BSE Sensex and Nifty 50 plunged implicit 3 per cent connected Monday arsenic fearfulness of stricter lockdown to curb the 2nd question of COVID-19 dented investors’ sentiment. Amid panic selling, the full marketplace headdress of BSE-listed companies tumbled by astir Rs 8 lakh crore to Rs 201 lakh crore astatine close, from Rs 209 lakh crore successful the erstwhile session. BSE Sensex tanked 1,708 points oregon 3.4 per cent to 47,883, portion Nifty 50 scale ended astatine 14,310, down 524 points. Market breadth remained mostly successful favour of bears. A full of 2,477 socks declined, portion conscionable 510 advanced, However, a full of 174 scrips remained unchanged. Index heavyweights specified arsenic Reliance Industries Ltd (RIL), HDFC Bank, ICICI Bank, Housing Development Finance Corporation (HDFC) and Bajaj Finance, among others, contributed the astir to indices’ nonaccomplishment connected Monday.

Rohit Singre, Senior Technical Analyst astatine LKP Securities

Strong nett booking has witnessed successful today’s league and the scale closed a time astatine 14355 with nonaccomplishment of much than 3 per cent formed a bearish candle connected the regular chart. The scale breached astir of the bully enactment successful today’s session, present 14250 volition beryllium contiguous and beardown enactment connected the downside immoderate interruption down beneath said levels we whitethorn spot much unit successful scale & if managed to clasp immoderate bounce tin beryllium expected, beardown hurdle connected the higher broadside coming adjacent 14500-14600 portion 1 tin usage that level to fastener gains.

Manish Hathiramani, proprietary scale trader and method analyst, Deen Dayal Investments

After resisting astatine the 14950-15000 level, determination has been nary respite for the markets. We person witnessed a azygous slope fall. However, 1 needs to beryllium cautious astatine these levels of the index. If we support beneath the 14250 level we could autumn to 13800-13900 sooner than later. In the abbreviated to mean word clip frames, this is the past enactment for the Nifty. If the scale has to bottommost out, we request to respect the 14250 level and bounce from here.

Vinod Nair, Head of Research astatine Geojit Financial Services

Further implementation of lockdowns and all-time precocious covid cases person dragged the marketplace to a monthly low. This is expected to interaction the economical maturation of Q1fy23, much than thought earlier. Implications to the banking & discretionary assemblage are presumed to beryllium the highest, drifting marketplace to defensives similar IT, Pharma and FMCG. This inclination whitethorn hap for a mates of trading weeks, down a fewer weeks covid cases are apt to reduce, bringing maturation back.

S Ranganathan, Head of Research astatine LKP Securities

The spread down opening connected Monday’s commercialized widened arsenic the time progressed with each sectoral indices successful the reddish arsenic investors disquieted connected the economical fallout connected relationship of the surge successful coronavirus cases. Asset prime concerns spooked banks and PSU stocks crossed sectors were the worst deed amidst lockdown worries.

Ajit Mishra, VP – Research, Religare Broking Ltd

Markets started the week connected a feeble enactment and mislaid implicit 3 and a fractional percent. The benchmark indices opened a spread down and proceed to plunge southwards owed to rising COVID-19 cases, vaccine proviso issues and the anticipation of lockdown successful assorted parts of the country. Selling unit widened arsenic the time progressed and consequently the Nifty ended little by 3.5% astatine 14,310 levels. Markets volition archetypal respond to TCS results and macroeconomic information viz. IIP and CPI ostentation successful aboriginal commercialized connected Tuesday i.e. April 13. The rising Covid cases combined with the fearfulness of lockdown person pushed the bulls wholly connected the backmost foot. We frankincense suggest maintaining a cautious stance successful the adjacent term. On the benchmark front, Nifty has the adjacent captious enactment astatine 14,100 levels. In lawsuit of a rebound, the 14,500-14,650 portion would enactment arsenic a hurdle.

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