The Indian stock market crashed on Monday as Sensex and Nifty slid more than 1% each. Sensex dropped nearly 900 points to close at 73,853, while Nifty 50 fell over 250 points. Vinod Nair said, “Indian equities came under renewed selling pressure, reversing the recent recovery as weak global cues.”
The Indian stock market crashed on Monday, with Sensex and Nifty sliding more than 1% each as strong selling in heavyweight private banks along with other factors spooked investors.
Sensex dropped nearly 900 points to close at 73,853 while Nifty 50 fell over 250 points to end the session below the 22,900 level. The selloff wiped nearly Rs 5 lakh crore off the combined market value of BSE-listed companies, taking it below Rs 468 lakh crore.
Here's how analysts read the market pulse
“Indian equities came under renewed selling pressure, reversing the recent recovery as weak global cues and selling in private banks and IT stocks weighed on investor sentiment. Global markets remained cautious ahead of a busy week of corporate earnings. Private banks remained under pressure following quarterly earnings and concerns over margin trends, while PSU banks bucked the broader weakness, supported by expectations of relatively resilient margins and asset quality. Crude oil prices eased after the US waived key sanctions linked to Russia, raising expectations of increased Russian fuel supplies to the global market. However, crude prices remained elevated, with geopolitical tensions continuing to influence the outlook. The Nifty slipped below the psychologically important 23,000 level, while broader market breadth remained weak, reflecting cautious investor sentiment amid earnings-related volatility and uncertain global cues,” said Vinod Nair, Head of Research, Geojit Investments Limited.
Live Events
US stocks
Wall Street stocks were mostly lower early Tuesday on continued volatility in artificial intelligence shares as investors digested mixed earnings from industrial companies.
Following Monday's rally in tech shares, some leading AI shares were back in the red on Tuesday.
European markets
European shares fell as another rise in crude oil prices kept risk sentiment in check, while investors homed in on results from AI bellwether companies later this week.
The pan-European STOXX 600 slid 0.7% after dropping close to 1% on Monday, with European semiconductor companies including ASML and ASMI fallingalmost 3%.
The euro was trading flat against the dollar at $1.12, while yields on 10-yearFrench government bondsinched higher to 4.955% after their biggest one-day jump in about a month, as widespread protests underscored the difficulties the French government faces in reducing its large deficit.
Most active stocks in terms of turnover
ICICI Bank (Rs 3,497 crore), HDFC Bank (Rs 2,392 crore), TCS (Rs 2,143 crore), RIL (Rs 1,888 crore), Bharti Airtel (Rs 1,619 crore), Axis Bank (Rs 1,581 crore) and Infosys (Rs 1,508 crore) were among the most active stocks on NSE in value terms. Higher activity in a counter in value terms can help identify the counters with the highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 32.35 crore), Yes Bank (Traded shares: 20.68 crore), PNB (Traded shares: 7.81 crore), Suzlon Energy (Traded shares: 6.52 crore), Union Bank of India (Traded shares: 4.59 crore), JP Power (Traded shares: 4.55 crore) and HDFC Bank (Traded shares: 3.35 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Union Bank of India, HFCL, PNB, Karur Vyasa Bank, J&K Bank, Bank of Baroda and Bank of India were among the stocks that witnessed strong buying interest from market participants.
52-week high
Among the ones which hit their 52-week highs on NSE included Karur Vysya Bank, Shyam Metalics, Laurus Labs and PVR Inox.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Urban Company, Himadri Speciality, Deepak Fertilisers, Finolex Cables, Ibull Housing Fin, Anupam Rasayan India and SJVN.
52-week low
Among the ones which hit their 52-week lows on NSE included Ibull Housing Fin, SJVN, Commercial Engg, Reliance Power, Yes Bank, Swan Energy and HUDCO.
Sentiment meter favours bears
Out of the 3,664 stocks that traded on the NSE on October 19, Monday, 846 stocks witnessed advances, 2,717 stocks saw declines while 101 stocks remained unchanged.
(You can now subscribe to our ETMarkets WhatsApp channel)
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
...moreless
(You can now subscribe to our ETMarkets WhatsApp channel)
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
...moreless
One company, 2 words. Bond yield and CDS: Will they decide the fate of global markets?
Business of Odd Things: Inside an industry that farms fish that nobody is meant to eat
War's second-order effects are becoming visible in critical sectors
US mid-term elections – Part 2: What does it mean for Trump to lose control of Congress?