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Sensex sees sudden plunge, Bank stocks lead fall

Share Source By

Dion Global

09 Jan 2019

The Indian benchmark indices erased all its gains in the late afternoon session on Wednesday. The Indian rupee slipped further in the afternoon trade as it is trading lower by 32 paise at 70.52 per dollar. It touched a low of 70.60 intraday today. The shares of YES Bank dropped over 5 per cent on Wednesday ahead of its board meeting when the name of the new MD and CEO is expected to be announced. Some large investors are said to have accumulated shares of YES Bank in the run-up to the lender's board meeting. The shares of Praj Industries hit an over decade high of Rs 137 per share, up 6%, on expectations of strong growth outlook. The stock has rallied 25% in the first seven trading days of the calendar year 2019. It was trading at its highest level since September 26, 2008.

At 14:23 hours, the BSE SENSEX was trading at 36016.27 up by 35.34 points or by 0.1 per cent and then NSE Nifty was at 10796.95 down by -5.2 points or by -0.05 per cent. The BSE Sensex touched intraday high of 36250.54 and intraday low of 35863.29 The NSE Nifty touched intraday high of 10870.4 and intraday low of 10749.4.

The top gainers of the BSE Sensex were Axis Bank Ltd. (Rs. 663.15,+1.88%), Bharti Airtel Ltd. (Rs. 334.45,+1.70%), ITC Ltd. (Rs. 288.20,+1.41%), Tata Motors Ltd. (Rs. 181.70,+1.31%), Housing Development Finance Corporation Ltd. (Rs. 1978.00,+0.96%), among others.

The top losers of the BSE Sensex were Tata Steel Ltd. (Rs. 477.70,-2.78%), YES Bank Ltd. (Rs. 187.45,-2.52%), Hero MotoCorp Ltd. (Rs. 2920.85,-1.81%), Vedanta Ltd. (Rs. 193.45,-1.15%), Oil And Natural Gas Corporation Ltd. (Rs. 145.90,-1.02%), among others.

Among sectors, BSE FMCG index was at 11823.39 up by 67.51 points or by 0.57%. Pioneer Distilleries Ltd. (Rs. 167.00,+1.95%), Radico Khaitan Ltd. (Rs. 407.75,+1.81%), Nestle India Ltd. (Rs. 11199.00,+1.65%), ITC Ltd. (Rs. 288.20,+1.41%), McLeod Russel (India) Ltd. (Rs. 113.55,+1.25%). On the flip side, BSE Oil&Gas index was at 13273.32 down by -238.88 points or by -1.77%. GAIL (India) Ltd. (Rs. 342.05,-3.59%), Bharat Petroleum Corporation Ltd. (Rs. 340.25,-3.28%), Hindustan Petroleum Corporation Ltd. (Rs. 240.00,-3.17%), Petronet LNG Ltd. (Rs. 214.50,-2.48%), Indian Oil Corporation Ltd. (Rs. 131.85,-1.60%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2802 , shares advanced were 1111 while 1516 shares declined and 175 were unchanged.