Share markets in India continued their sell-off seen during the last week and ended the day deep in the red. All sectoral indices traded on a negative note, with stocks in the realty sector, auto sector, telecom sector, and finance sector witnessing most of the selling pressure.
At the closing bell, the BSE Sensex stood lower by 536 points (down 1.5%) and the NSE Nifty closed down by 168 points (down 1.5%). The BSE Mid Cap index ended the day down 2.4%, while the BSE Small Cap index ended the day down 2.7%.
The rupee was trading at Rs 72.59 against the US$ in the afternoon session.
Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was down by 1.7% and the Shanghai Composite was up by 2.4%. The Nikkei 225 was up by 0.8%. Meanwhile, European markets were trading on a negative note. The FTSE 100 was down by 0.2%. The DAX was down by 0.3%, while the CAC 40 was down by 0.2%
Speaking of the sell-off seen in the Indian stock markets, in our latest edition of the stock market podcast, Apurva Sheth, our lead Chartist, and Editor of the premium newsletter, Profit Hunter Pro joins us to share his technical view on the massive stock market crash that we witnessed on Friday.
He also talks about the stocks that could create value in such times.
In the news from the pharma sector, Cipla share price was in focus today after it was reported that the US drug market regulator, USFDA, is carrying out a surprise inspection at the company’s Goa facility.
NBFCs were witnessing selling pressure today on worries over tight liquidity with shares of CanFin Homes and PNB Housing witnessing most of the brunt.
In the latest development from this space, assuring lending support to non-banking financial companies (NBFCs), SBI Chairman Rajnish Kumar said there was no concern on liquidity of such firms, amid ongoing debt crisis in Infrastructure Leasing & Financial Services (IL&FS) Group.
