Mumbai: The benchmark Nifty Monday breached the crucial 8,000-level following voluminous broad-based sell- off mirroring the global development in financial markets.
The black Monday saw the benchmark Nifty diminished to end by 7,809.00 by lossing a massive 490.95 points or 5.92 percent at the National Stock Exchange (NSE).
The sentiments were sombre despite positive statements from Finance Minister Arun Jaitley and RBI Governor Raghuram Rajan that economic fundamentals remained strong and the current market catastrophe would soon to settle down.
The struggling China's stocks crashed near 9 percent despite using every resources in its capacity to alter the down turn, resulting stocks falling across the continents with Asian shares slumping to 3 year lows and European stocks trading 3.4 percent down even as falling currencies, crude and commodities led to a worst fear of falter in economies.
The index opened down-gap and dipped further to 7,769.40 during intraday before ending in deep red.
Sectorwise, Realty dipped 11.08 percent followed by PSU Bank 9.35, Energy 8.31 percent, Media 8.05 percent, Commodities 7.52 percent, Auto 7.26 percent, Metal 7.05 percent, Bank 6.90 percent, Financials 6.55 percent, Pharma 6.06 percent, IT 4.80 percent and FMCG 4.65 percent.
While the the broader midcap and smallcap also tanked 10.89 percent and 10.61 percent respectively.
The broader 50-share Nifty opened gap-down 8,055.95 and traded between a high of 8,060.05 and a low of 7,769.40 before finishing at 7,809.00 showing a fall of 490.95 points, or 5.92 percent over its last close.
Stockwise, major losers were VEDL (14.27 percent), Cairn (13.23 percent), Tata Steel (13.13 percent), GAIL (12.20 percent), ONGC (11.04 percent), Yes Bank (9.02 percent), Cipla (8.83 percent), ICICI Bank (8.95 percent), Reliance (8.63 percent), SBIN (8.26 percent) and Axis Bank (8.23 percent), L&T (6.23 percent).
Turnover in the cash segment jumped to Rs 27,890.41 crore compared to Rs 19,547.20 crore yesterday.
A total of 13,777.70 lakh shares changed hands in 11,521,827 trades and the total market capitalisation of NSE stood at Rs 9,232,918 crore.
