All Indian equities market ended Monday with a huge cut, with the benchmark index closing over 700 points in deep red.
The Sensitive Index, the 30-share Sensex, bellwether index of the Bombay Stock Exchange, closed at 15,644.44, having lost 726.85 points from its 16,266.66 opening.
Similarly, the S&P Nifty 50 of the National Stock Exchange closed at 4,734.50, having lost 207.5 points.
Among the top index losers were HDFC down 10%, HDFC Bank and ICICI Bank down 7.5%; DLF, ONGC down 7%
Among the top non index losers were Indiabulls Finance down 12% Rel Capital down 10%; HDIL and Guj NRE Coke down 7.5%.
The IT index and bankex were down 6 percent each; metal, oil and realty indices were down over 4 per cent.
About 1573 shares have advanced, 1432 shares declined, and 59 shares are unchanged.
IT index and bankex are down over 5% each; metal, oil and realty indices are down over 3%.
Bank stocks are down as any interest rate cuts in the near future are ruled out to contain inflation. HDFC Bank down 7%, CBoP down 7.5%, South Indian Bank and Yes Bank are down 6%, Axis and Kotak Mahindra Bank are down 6.5%.
IT index was down over 5%; as rupee as strengthened against the dollar. It is trading at 39.875 against the dollar.
Infosys, Cairn, TCS, HDFC Bank, ICICI Bank were down over 6%, Grasim was down over 5%. L&T and SAIL were down nearly 4%. DLF, SBI, RPL, L&T, Reliance Energy, Wipro, Unitech were among the other losers.
Hero Honda, ITC, Hindalco, Cipla were among the few frontline gainers on the indices.
Posted by krishna Raj 