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Last Updated : Mar 23, 2020 06:31 PM IST | Source: Moneycontrol.com

These 36 stocks tank over 20% as Sensex, Nifty post biggest single-day fall

Among the sectors, the auto, bank, infra, oil & gas and metal were the worst hit.


The Indian stock market suffered its worst single-day fall in history as the country went into lockdown to curb the spread of coronavirus with infections rising at a faster clip.

As brokerages cut growth forecast, pressure piled on the Sensex and the Nifty, which fell 13 percent on March 23, with all sectoral indices ending with a loss of between 7 and 14 percent.

At close, the Sensex was down 3,934.72 points or 13.15 percent at 25,981.24, while the Nifty was down 1,135.20 points or 12.98 percent at 7,610.25.

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Among the sectors, auto, bank, infra, oil & gas and metal were the worst hit.

"Going forward, we expect the markets would continue to remain volatile as increase in number of cases in India would lead to selling pressure. Meanwhile, market participants would pin their hopes on stimulus package from the government to reduce the economic impact of coronavirus cases," said Ajit Mishra, VP - Research, Religare Broking.

The carnage saw 36 stocks fall more than 20 percent. These include M&M Financial, Axis Bank, NIIT Tech, Sunteck Realty, Dalmia Bharat, Trent and DCM Shriram.

20%

FIIs continued to remain sellers for 19 sessions, as they sold equities worth Rs 62,611.82 crore. On the other hand, DIIs bought equities worth Rs 60,146.77 crore.

S&P Global Ratings on Monday cut its estimate for India's GDP growth in the fiscal starting April 1 to 5.2 percent from its earlier estimate of 6.5 percent, as it saw the outbreak of coronavirus costing economies around the globe, reported PTI.

UBS Securities said it expects India to clock a 4.8 percent growth in FY20.

 

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First Published on Mar 23, 2020 05:42 pm
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