NEW DELHI: Key equity indices Sensex and Nifty suffered major losses on Wednesday on sustained selling in banking, financial, auto, IT and FMCG stocks, fuelled by a fresh drop in the rupee and a surge in crude oil prices.
Investors avoided riskier equities and turned to safer bets such as dollar, bonds and gold amid uninspiring global cues and weak macro indicators.
The rupee nosedived to a fresh record low on Wednesday, breaching the 73-mark against the US dollar for the first time ever. The domestic unit hit an all-time low of 73.41 in intraday trade, slipping 50 paise from Monday’s closing level of 72.91.
BSE benchmark Sensex closed at 35,975, down 550.51 points, or 1.51 per cent, while NSE barometer Nifty ended 150.05 points, or 1.36 per cent, lower at 10,858.
Let’s walk you through the highlights of Wednesday’s session:
Who dragged my Sensex
Tata Consultancy Services (TCS) turned out to be biggest contribution to the fall of the 30-share index, contributing 100 points, followed by
, ICICI Bank,
(3.91 per cent) ICICI Bank (3.36 per cent) and Maruti Suzuki (2.86 per cent), in that order.
Investors lost nearly Rs 2 lakh crore
On Wednesday alone, equity investors lost Rs 1,71,287 crore on BSE. Since Monday, September 3, 2018, BSE investors have suffered a cumulative loss of Rs 14,85,095 crore.
Over 200 stocks at 52-week lows
As many as 209 stocks, including Bharti Airtel, Bharti Infratel, Eicher Motors, Bandhan Bank, HUDCO, Indiabulls Real Estate, ICICI Securities, J.Kumar Infraprojects, Jaiprakash Power Ventures, Jubilant Industries, Kewal Kiran Clothing, Max Financial Services, Supreme Industries, Tata Communications, TI Financial Holdings, TPL Plastech, Vakrangee, Walchandnagar Industries and Zuari Global, touched 52-week lows on NSE.
Stocks that cracked 10% on BSE
Shares of Universal Autofoundry (down 14.19 per cent), Relicab Cable Manufacturing (down 13.50 per cent), Aditya Consumer Marketing (down 13.47 per cent), Kamadgiri Fashion (down 11.73 per cent), Rajasthan Cylinders & Containers (down 11.72 per cent), Fervent Synergies (down 11.61 per cent), Machino Plastics (down 10.77 per cent), Richa Industries (down 10.75 per cent), Amrapali Capital and Finance Services (down 10 per cent) and Ashapura Intimates Fashion (down 9.99 per cent) plunged 10 per cent or more on BSE.
YES Bank rose for the second day
YES Bank shares extended the rally for the second straight session after the lender said it was fully geared up for the succession plan for the post of its MD and CEO and will finalise two external experts for the search committee by October 7. Following a steep fall in its share price last week, YES Bank on Monday also released its unaudited financial results for the quarter to September.
IL&FS group stocks jump
Shares of IL&FS Engineering and Construction Company (up 19.79 per cent), IL&FS Transportation Networks (up 19.29 per cent) and IL&FS Investment Managers (up 9.91 per cent) jumped between 10 per cent and 19.79 per cent.
The government took control of the troubled Infrastructure Leasing and Financial Services (IL&FS) and said the move was to protect the country’s financial system and markets from potential collapse, Reuters reported.