Today's Paper

Markets bleed, Sensex dives 4,000 points

With the country in a virtual lockdown mode and companies announcing temporary shutdowns as the number of COVID-19 cases breached the 450 mark, the stock market went into a free fall mode on Monday and benchmarks registered their biggest single-day fall in both absolute and percentage terms.

Trading halt

The Sensex hit the 10% lower circuit in the very first hour of the trading session, resulting in a 45-minute trading halt for the second time this month. The Nifty had hit the 10% circuit breaker on March 13.

The reopening of the session provided no respite either as the Sensex plunged over 4,000 points — 4,035.13 to be precise — to touch a low of 25,880.83, before ending the day at 25,981.24, down 3,934.72 points, or 13.15%.

All the Sensex constituents ended the day with heavy losses, with most of them currently trading at multi-year lows.

As many as 21 stocks in the Sensex pack lost over 10%, with financial sector heavyweights, including Axis Bank, ICICI Bank, Bajaj Finance, and State Bank of India, along with Maruti Suzuki India, Bajaj Auto and Reliance Industries contributing significantly to the day’s fall.

More than 2,000 stocks lost ground on BSE, as against only 214 gainers. The sectoral index representing banking was the worst performer of the day, losing nearly 17%. Meanwhile, the broader Nifty ended the day at 7,610.25, shedding 1,135.20 points or 12.98%.

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