Sensex closes below 16,500; Nifty hits 52-week low
Nifty plunged to a 52-week low on concerns over global economy slipping into recession. Investors were also worried that a rate hike by the RBI to control inflation would further impact growth negatively.
The BSE Sensex closed at 16,469.79 down by 371.01 points or 2.20%. The index touched a high of 16,916.81 and low of 16,433.31 during the day. Nifty ended the day at 4,944.15, down 112.45 points or 2.22%. It hit a high of 5,078.60 and low of 4,932.15 intraday.
All the sectoral indices ended up in the red, while BSE IT (-3.99%) and BSE Bankex (-3.51%) led the pack.
Gainers & Losers
DLF (2.39%), Hero Honda (0.63%), Jaiprak Asso (0.60%), and Hind.Unilev (0.06%) were the top Sensex gainers.
In the 30-share index, Wipro (-5.59%), ICICI Bank (-5.09%), Sterlite Ind (-4.91%), Jindal Stl Pow (-4.72%) and SBI (-4.59%) were top losers.
DLF (2.77%), Jaiprak Asso (1.30%), RCom (0.86%), Hero Honda (0.70%) and GAIL (0.42%) posted the highest gains on the 50-share Nifty.
Whereas, REL (-6.06%), HCL Tech (-5.95%), Wipro (-5.66%), Axis Bank (-5.04%) and Sterlite Inds (-4.91%) were the top losers on the 50-share Nifty.
Mid and Small-cap space
The BSE Midcap Index closed at 6,211.55, down 130.26 points or 2.05%. The Smallcap Index was down by 192.31 points or 2.62% to 7,148.19.
Market breadth was negative with 690 advances against 2,221 declines.
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- State Bank of India: Net profit down 35.08% to Rs23750.10 mn
- Weekly Wrap: Sensex could trade in the range of 21,000 - 21,700 this week
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