Sensex down on global sell-off. Stockbrokers react as market broke down
A global meltdown in the equity market has shed a nearly of 1200 points below which indicates a huge loss on heavy ground. Markets extended its weak run for the sixth straight session with this benchmark loss. The BSE Sensex opened the day lower by a little over 1,000 points before losing further ground to touch a low of 33,482.81 – down 1,274 points compared to Monday’s close of 34,757.16
It continued to bleed along with NSE Nifty and stayed below the 10,300-mark. Both Sensex and Nifty tanked over 3 percent in the opening trade in line with deep losses in world markets. This is one of the worst post-budget day declines since 2008. The 30-share index fell by 1,274.35 points (3.66%) to 33,482.81 with all sectoral indices led by realty, consumer durables, metal, and banking trading in the negative zone
Since February 1, the day Union Budget 2018-19 was presented, the 30-share Sensex has plummeted by over 1,208 points in three sessions and the Nifty has lost 361 points consecutively for a three-day period.
Not a single constituent of the Sensex pack was in the green with stocks likeHDFC Bank, Tata Motors, HUL, Coal India, Hero Motocorp, Tata Steel, Asian Paints and State Bank of India all shedding more than 3% each.