First it was the Union Budget axing the Sensex to one of its biggest falls in the current year and then came, today, the global guillotine that made for yet another gory re-run.
On the Bombay Stock Exchange, Sensex fell under the 14,000-point mark today and stayed there till the end of the trading.
What was causing the trouble in the traders’ and investors’ hearts was the negative global news, especially from Japan, indicating that machinery orders were on a downward spiral, which spooked markets. This in turn set off a panic that foreign money may be heading out of India.
Dow Jones and Nasdaq closed yesterday down by 161 and 41 points respectively.
At closing, Sensex was down 401.30 points at 13,769.15 points, a loss of 2.83 per cent. It recovered marginally from the day’s low of 13,701.76 points. This was the lowest closing for the index in more than a month. It has lost almost 8 per cent just in this week.
Auto stocks played a stellar role today on the back of a good sales performance by carmakers in the month of June.
Another feelgood story was scripted by cement stocks ACC and Ambuja Cement, which rose by 3.1 per cent and 2.4 per cent.
A similar scene played itself out on the National Stock Exchange where Nifty fell by 123.25 points at 4,078.90 points, or a loss of 2.93 per cent. The lowest point plumbed by the index during the day was 4,061.10 points.
On Sensex, the top 5 losers were Tata Steel (-9.5%), DLF Limited (-8.3%), Rel. Infra (-7.7%), Sterlite Ind. (-7.6%) and ICICI Bank (-5.8%). 25 of the 30 stocks on Sensex ended up in the red. Among the gainers on Sensex were ACC Limited, Maruti Suzuki, Grasim, NTPC, and Wipro.