If things were bad last week, they have only gotten worse this week, as the Indian equity markets crumbled from all sides, collapsing like a castle of glass.
There were signs from the beginning of the day, as losses of over 1 per cent were reported in the early hours of the intraday trade.
As the day came to a close, the damage was bigger than what one could have surmised.
The Sensex closed the day at 73,192.35, down by a mammoth 1420.08 points or 1.90 per cent. At the NSE, the Nifty index closed for the day at 22,124.70, down by 420.35 points or 1.86 per cent.
Also, Nifty Bank also closed for day with major losses amounting to 399.10 points or 0.82 per cent, closing at 48,344.70.
Major Gainers and Losers
Gainers: On the BSE tranche, at the time of writing, major gainers were far and few. HDFC Bank made gains of 1.86 per cent. Axis bank made gains of 0.05 per cent.
Losers: The losers were in abundance, as the stocks crashed on Friday. Stocks that suffered on last day included IndusInd Bank, Tech Mahindra, Mahindra & Mahindra, Bharti Airtel and Tata Motors were some of the biggest losers of the day.
Markets On Friday Morning
The markets opened on Friday with deep cuts. The BSE Sensex started the day at 74,201.77 points. The Nifty 50 index started the day at 22,433.40 lower than the previous day’s closing.
In addition, the Nifty Bank index also started the day trading low at 48,437.55.
South Korea’s KOSPI also closed in red with colossal losses of 3.39 per cent or 88.97 points, rising to 2,532.78. |
Asian Markets
The Asian indices all were tatters on Friday, as the wave of red swept across almost all indices across the board. In Japan, the Nikkei nose dived 2.88 per cent or 1,100.67 points, crumbling below the 38k mark, closing at 37,155.50.
Another Tokyo-based index, TOPIX, closed at 2,682.09, declining by 1.98 per cent or 54.16 points.
The story remains the same, and gets more grave as we move to China, the Hang Seng also closed with significant losses in its numbers, closing with a decline of 3.28 per cent or 776.97 points, at 22,941.32.
Shanghai-based SSE Composite also ended the day’s trade in the red. The index lost 1.98 per cent or 67.17 points of its value and closed at 3,320.90. South Korea’s KOSPI also closed in red with colossal losses of 3.39 per cent or 88.97 points, rising to 2,532.78.
