Sensex and Nifty Plunge by More Than 3% Today

Today, Sensex and Nifty plunged by over 3%. Sensex slumped to 30636.71 after hitting the low of 30378.26 settled with a drop of 1011.29 points. Nifty today slipped by 280.40 points closing at 8981.45.

All sectors faced heavy losses and ended up in deep red. After trading positive in last few days, once again the conditions have hit the market hard ending the today’s session in negative. Investors are looking to exit the market soon because if Nifty dropped more to 8800 or near, the recovery would be difficult and time consuming while increment to around 9050 can offer a relief to Indian investors.

 The next few days of the week would be crucial for Indian market and investors.


Dr. Reddy’s Laboratories rallied today as stock increased by 4.38%. Other gainers from today’s market included Infratel and Bharti Airtel with an increase of about 2.89% and 2.18% respectively. Hero MotoCorp, Britannia and Reliance Industries increased by approximately 1%.

Keep a watch on these stocks in the coming session as stocks look strong but fundamentals weak.


List included IndusInd bank, Bajaj Finance and ICICI Bank with a significant drop of 12.25%, 9.07% and 8.72% respectively. Hindalco, Tata Motors, ZEE Entertainment Ltd and Axis Bank hit hard decreasing by approximately 8%.

Private banking stocks, IT and Auto sector stocks took a great drop due to historic drop of oil prices amid the coronavirus breakout.

After ICICI Bank confirms its lending of $100 million to Hin Leon Trading Company, oil trading company in Singapore and its filing of bankruptcy protection, the shares slipped further by more than 8% today.


As of today’s market session, Foreign investors took out more than 2095 crores. Today shares value of 3997.53 crores were invested and 6092.76 crores of shares were sold during the session.

Domestic Institutional Investors took out investments around 68.46 crores from the market after buying 4285.48 crores being bought and 4353.94 crores being sold during the day.

Coming days can expect more and more investors backing out from the markets till India flattens the COVID-19 curve.

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