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Market Wrap, Sep 03: Sensex nosedives 770 pts, Nifty settles below 10,800

A weaker-than-expected GDP growth for the first quarter of the financial year 2020 (Q1FY20) weighed on investor sentiment on Tuesday as the domestic equities ended with over 2 per cent losses

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MARKET WRAP

BS Web Team  |  New Delhi 

A weaker-than-expected GDP growth for the first quarter of the financial year 2020 (Q1FY20) weighed on investor sentiment on Tuesday as the domestic equities ended with over 2 per cent losses. That apart, weak global cues also added to the woes.

The S&P BSE Sensex tumbled 770 points or 2.06 per cent to settle at 36,563. Out of 30 constituents, 28 scrips ended in the red while only two closed in the green.

On NSE, the benchmark Nifty50 index slipped below the crucial 10,800 level to end at 10,798, down 225 points or 2.04 per cent. Bank Nifty lost 604 points or 2 per cent to end at 26,824.15.

  • plummet on weak GDP nos; Sensex nosedives 770 pts, Nifty settles below 10,800

  • Rupee hits fresh 2019 low

  • Government approves over Rs 9,000 crore capital infusion in IDBI Bank, stock jumps 6%.

Market breadth remained in favour of declines as out of 2,608 scrips traded on BSE, 814 advanced, 1,615 declined while 179 remained unchanged.

Volatility index, India VIX, jumped 11 per cent to settle at 18.14.

In the broader market, the S&P BSE MidCap index ended at 13,246, down 222 points or 1.65 per cent while the S&P BSE SmallCap index ended at 12,370, down 165 points or 1.32 per cent.

On the sectoral front, all the indices ended in the negative territory with PSU Bank index taking the hardest knock (down 5 per cent), followed by metal and realty indices.

Among individual stocks, Tata Steel slipped 4 per cent to quote at Rs 331.40 after the company proposed to close two non-core business units in the United Kingdom. Auto stocks, too, fell in the trade after data showed that sales of four- and two-wheelers almost halved in August, compared to the equivalent month last year.

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First Published: Tue, September 03 2019. 16:30 IST
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