Thursday, 7 January 2016

Sensex Plunges Over 550 Points; Realty,Auto Drag

Posted by suhani varma on Thursday, January 07, 2016 with No comments

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The Indian equity market extended their losing streak for the consecutive session on Thursday after crash in China stock market. The S&P BSE Sensex plunged below 25,000 for the first time since September 8, 2015, while Nifty slipped below 7,600 level, lowest since December 15.

Realty, auto, metals, power, capital goods and oil and gas were among the top losers. Even the mid-cap and the small-cap stocks ended with losses. The BSE Sensex opened at 25,225, touched an intra-day high of 25,230 and low of 24,826. It finally ended with a loss of 554.50 points at 24,852. The NSE Nifty opened at 7,673 hitting a high of 7,675 and low of 7,557, before ending with a loss of 173 points at 7,173.

The India VIX (Volatility) index was down 13.50% to 18.7875. On the global front, the Chinese stock markets fell nearly 8% after the People's Bank of China (PBOC) set the yuan’s reference rate at 6.5646, the lowest levels since April 2011. Meanwhile, Hydrogen bomb testing by North Korea added to the woes. Asian stock markets witnessed heavy sell-off in equities across the sectors. The Shanghai Composite Index (CSI 300) was last quoted at 3,115.89 points, down by 7.89% after the trades were suspended. The index opened lower at 3,309.66 points as against its previous close of 3,361.84 points. Hang Seng closed down 2.4%. In Europe, the FTSE 100 marginally slipped 2.9%. On the other hand, DAX and the CAC 40 were down over 2.5%, each.

Vedanta, Cairn India, BHEL, Tata Steel, Bank of Baroda and Tata Motors were among the losers today. Out of 1,788 stocks traded on the NSE, 1,383 declined and 196 advanced today. A total of 43 stocks registered a fresh 52-week high in trades today, while 26 stocks touched a new 52-week low on the NSE.

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