The BSE benchmark index, the Sensex, tocuhed a high of 59,778 during its extreme brief stay in the positive zone this morning, thereafter the index dropped to lower levels as the day progressed.
The Sensex, however, recovered a wee bit towards the close, but still ended the Monday’s trading session with a significant loss of 1,170 points at 58,466.
Technical indicators suggest a volatile movement in the market over the next few sessions,” said Vijay Dhanotiya, lead of technical research at CapitalVia Global Research.
The breadth too was extremely negative – out of 3,567 stocks traded on the BSE, over 2,500 stocks ended with losses.
Among sectors, the BSE Realty and Energy indices were the major losers, down around 4 per cent each.
Primary market update: The three-day issue of Go Fashion was subscribed 130 times on final day of the issue.
LIVE market updates: The key benchmark indices are languishing near the lows of the day on the back of unabated selling pressure.
All sectoral indices, the BSE Consumer Durables had plunged 4 per cent followed by the Energy index down 3.7 per cent.
A sharp correction in equity markets have dragged half or four out of seven newly listed companies, that made stock market debut in November, below their respective issue prices.
LIVE market updates: The key benchmark indices continue to languish at lower levels on the back of a broad-based sell off.
The broader indices were also deep in red, with BSE Midcap and Smallcap down 2.2 per cent and 2.5 per cent, respectively.
JBM Auto surged to a high of Rs 972, and was up 3.6 per cent at Rs 923 on the back of company’s plan to consider stock split of equity shares.
The BSE Sensex was down 1,021 points, or over 1 per cent, at 58,615 levels while the Nifty50 was breached 17,500 levels on the downside.
The S&P BSE Sensex was down 666 points at 58,969 levels with 26 of the 30 index constituents trading in the red.
The index is now down 1,000 points from record high level of 18,604 level.
Individually, Reliance Industries is likely to hog the limelight and may dictate the market trend today, after the company decided to shelve its $15 billion Saudi Aramco deal.
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