Sensex crashes over 2500 pts; Nifty 50 down 750 pts

Posted on by

BSE Sensex crashed 2,507.16 points or 3.10% to trade at 78,474.79 as of 11:32 am, and Nifty fell 751.85 points or 3.04% to trade at 23,965.85, driven by concerns that the United States could be headed for a recession and increasing bets that the Federal Reserve will likely need to start cutting interest rates aggressively.

India VIX rose 46.68% to 21.01.

All sectoral indices traded in the negative territory. Nifty metal plunged 5.02% to trade at 8,847.20 as at 11.39 am, Nifty realty dropped 4.86% to 986.75, and Nifty PSU Bank fell 4.76% to 6,854.60.

Nifty smallcap 100 declined by 4.57% to 17,941.45 and Nifty midcap 100 fell by 3.87% to 55,672.30.

The major gainers on the NSE as at 11.40 am were Britannia (1.86%), Hindustan Unilever (0.85%), Tata Consumer Products (0.70%), Nestle India (0.59%), and Sun Pharma (0.27%). Tata Motors (-5.67%), Infosys (-5.40%), ONGC (-5.30%), Tech Mahindra (-4.99%), and Hindalco (-4.71%) were the major laggards.

As of 11.44 am, 4,042 stocks were traded on the BSE, of which 3,401 declined, 536 advanced, and 105 remained unchanged. One hundred seventy-eight stocks hit a 52-week high, and 57 hit a 52-week low. In addition, 503 stocks traded in the lower circuit and 229 in the upper circuit.