Closing Bell: Sensex cracks 812 pts; Nifty settles at 11,250; mid, and smallcaps also bleed

Taking Stock | Manic Monday! Sensex plunges 800 points; Nifty below 11,300 dragged by IndusInd Bank, Tata Motors

Sectorally, the selling pressure was seen in the S&P BSE Telecom index which was down 5.7 percent, followed by the S&P BSE Realty index that fell 5.7 percent, and the S&P BSE Metal index fell 4.7…... Read More

Indices on Monday slid 2.5 percent on reported irregularities in certain global banks which spooked markets globally.

Fears of another lockdown in the UK created further scare here as investors booked profits in several stocks which have rallied sharply over the last couple of weeks.

The Sensex close of 38k is also not a clear reflection on the kind of carnage witnessed today in the broader markets.

Indian benchmark indices succumbed to profit-booking in the second half of the trading day and ended more than 2 percent down.

It was in sync with global cues which turned negative following a surge in infections in various countries including in Europe.

Additional restrictions were being considered in Europe following an increase in infections.

With high valuations and worries that earnings may not justify such valuations anytime soon, markets may trade uncertain for the time being. Stay cautious.

The market has broken the support of 11,300 on a closing basis and this is definitely an alarming situation. We could drop to 10,950-11,000 levels as the fall today has been fierce and on the back of good volumes.
The resistance on the upside is at 11,550-11,600. Until then, the market looks weak.

Sensex closed 812 points, or 2.09 percent, down at 38,034.14 while Nifty ended 254 points, or 2.21 percent, lower at 11,250.55.

BSE Midcap and Smallcap indices closed 3.43 percent and 3.61 percent down, respectively.

Volatility index India VIX jumped 11 percent to 22 levels today, underscoring the high degree of nervousness in the market.

Fresh wave of sell-off hits D-Street as Sensex, Nifty fall 2% each; 4 reasons that triggered the fall

As per media reports, British Prime Minister Boris Johnson was pondering the second lockdown in Britain while Spain and other European countries were witnessing fresh restrictions due to the…... Read More

The market witnessed a knee-jerk reaction to reports that some European countries are contemplating to reimpose lockdown measures as the COVID cases see a spike.

As per media reports, British Prime Minister Boris Johnson was pondering a second lockdown in Britain while Spain and other European countries were witnessing fresh restrictions due to coronavirus pandemic.

European stocks headed for their worst fall in almost two months on Monday, hit by worries about a surge in coronavirus cases across the continent and a slide in HSBC and Standard Chartered following reports that put the UK banks among those moving large sums of allegedly illicit funds over the past two decades, reported Reuters.

The Board Meeting of the Bank is scheduled to be held on September 25, 2020 at Bengaluru, to consider the 'Raising
Capital through Qualified Institutional Placement (QIP)'.