Blood bath in Dalal street: BSE Sensex nosedived 2713 points (8 %) to 31,390 levels while Nifty ended at 9,199, down 756 points (7.6 %)
Published On: Monday, March 16, 2020 | By: Team KnowMyStock
Indian benchmark indices were trading over 8 percent lower, dragged down primarily by bank stocks, today, 16th, March as sell-off resumed after a day's halt. The uncertainty regarding the effect of the coronavirus epidemic kept investor sentiment in check even though the US Federal Reserve cut interest rates to near-zero on Sunday. RBI is expected to hold a media interaction at 4 PM today. It is widely expected that the central bank will cut rates and announce measures to boost sentiment.
The S&P BSE Sensex was down 2,750 points, or 8.05 percent, at 31,350 levels. Index-heavyweight HDFC slipped over 7 percent after leading Friday's rebound rally. State Bank of India was also down over 6 percent after Friday's 13 percent up move. IndusInd Bank was down over 16 percent.
Meanwhile, YES Bank surged over 50 percent to as much as 40.40 percent on the NSE in a weak market despite reporting a net loss of Rs 18,564.24 crore for the Q3FY20 quarter.
The broader Nifty50 index hovered around 9,220 levels, down 730 points, or 7.1 percent. All the Nifty sectoral indices were trading in the red with Nifty Bank, Nifty Private Bank, and Nifty PSU Bank indexes (all down over 5% each) taking the deepest cuts.
In the broader market, the S&P BSE MidCap index was down 708 points, or 5.6 percent, and the S&P SmallCap dipped 650 points or 5.5 percent.
Tags: Nifty BSE sensex
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