Markets nosedive: Sensex closes down 400 points

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It was a bad day for the markets as it saw a savage correction. It ended in deep red near the day's low on account of heavy selling in scrips across sectors.

It was a broad based selling with all sector indices ending in red. The downtrend was led by banking stocks after the CRR hike by the RBI followed by the metal stocks.

The Sensex saw a free fall of over 500 points in the mid session and closed with a loss of 400 points. It was the biggest single day fall for Sensex since June 13.

The Sensex closed at 13,399.43 down down 400.06 points or 2.90% at 13399.43, and the Nifty down 112.50 points or 2.84% at 3849.5.

About 569 shares have advanced, 1952 shares declined, and 45 shares are unchanged.

The fall in the midcaps and the smallcap equally hard. The BSE Small Cap Index closed at 6,548.31 down 182 points or 2.7%.

The BSE Midcap Index ended at 5,601.54 down 144 points or 2.51%.

The BSE FMCG Index lost 2.4% at 1,972.08. Shaw Wallace, Colgate, Tata Tea, ITC closed in red.

The BSE Metal Index was down 4% to close at 8,679.74. Tata Steel, Sterlite Ind, JindalStainless, Jindal Saw, Hindalco were among the losers.

The BSE Bankex was down 6.4% at 6,749.78. Bank of India, Bank of Baroda, Federal Bank, PNB, SBI moved downwards.

The BSE Health Care Index was plunged 2% at 3,647.81.  Divis Labs, Wockhardt, Glenmark, Orchid Chemical, Sun Pharma, Ranbaxy Labs, Ipca Labs closed lower.

The BSE Capital Goods Index was down 2.4% at 9,133.37. Greaves Cotton, Crompton Greave, KEC Infrastruct, Siemens, Lakshmi Machine ended lower

The BSE Auto Index closed at 5,244.04 down 2.76%. Bharat Forge, Hind Motors, Mah and Mah, TVS Motor, Ashok Leyland and Tata Motors were among the losers.

The BSE IT Index closed at 5,089.15 down 0.8%. Mphasis BFL, HCL Tech, Patni Computer, Satyam, Wipro ended weak.

The BSE Oil and Gas Index closed at 5,966.36 down 2.12%.  HPCL, MRPL, IOC, GAIL and BPCL slipped.

The NSE cash turnover was at Rs 9335.04 crore and the NSE F&O turnover was at Rs 41688.85 crore. The BSE cash turnover was Rs 4886.62 crore. Total market wide turnover was at Rs 55910.51 crore.

Markets Today

• Biggest single day loss for Sensex since June 13
• Sensex down 400 points at 13399.43; Nifty down 112.50 points at 3849.50
• All BSE Sectoral Indices end in the red
• BSE Bankex down 6.43%; likely effect of CRR hike
• SBI down 8.18%, ICICI Bank down 6.5%, HDFC Bank down 4.7%
• BSE Metal Index down 4%; Tata Steel down 6%, CSN counter bids for Corus at 515 pence/sh
• Index Losers; Zee down 7.26%, ACC down 6.22%, Bharti Airtel down 4.34%
• BSE IT Index ends marginally down; Infosys, TCS down less than 1%
• CNX Midcap Index down 3.12%; dragged by midcap banking stocks
• Indus Ind bank down 11.4%, Bank of India down 10.15%, Syndicate Bank down 8.25%
• BSE Small-Cap Index down 2.7%
• NSE Advance Decline ratio at 1:9
• Total market turnover at Rs 55910.51 cr Vs Rs 40819.63 cr on Friday