Mumbai: It was yet another painful session for the markets as the selling pressure continued. The Sensex closed below 9300, it was the worst closing for the Sensex since January 18, 2006.
The BSE Sensex closed at 9296 down 461 points.
The NSE Nifty closed at 2724 down 136 points.
The BSE Small Cap Index closed at 4,833.26, down 8.05 per cent.
The BSE Midcap Index ended at 3,964.82, down 288.08 points or 8.2 per cent.
About 149 shares have advanced, 2176 shares declined, and 31 shares are unchanged.
All the BSE sectoral indices closed in red, down by over 3.5 per cent.
The major losers were Bajaj Auto, Tata Power, Tata Steel, Reliance, Dabur India, HPCL, Jet Airways and Oriental Bank.
The BSE Consumer Durables Index witnessed heavy fall of 4.3 per cent to close at 2,468.42 due to Samtel Color, Su-Raj Diamonds, Whirlpool and BPL.
Metal stocks like Jindal Steel, Guj NRE Coke, Welspun Guj, JindalStainless, Tata Steel and JSW Steel also meltdown. The BSE Metal Index closed at 6,995.79, down 5.51 per cent.
Capital goods stocks like Jindal Steel, Guj NRE Coke, JindalStainless, Welspun Guj, Tata Steel and Jindal Saw also slipped. The BSE Capital Goods Index ended down 6.1 per cent at 6,142.36.
The BSE Healthcare Index also closed down 6 per cent at 2,870.96 amid selling in pharma stocks like Glenmark, Ipca Labs, Orchid Chemical, Cadila Health and Wockhardt.
Auto stocks like Hind Motors, Sundaram-Clayto, Amtek Auto, Escorts, Tube Investment and Sundram closed low. The BSE Auto Index closed at 4,239.83, down 4.07 per cent.
Oil stocks including Chennai Petro, MRPL, HPCL, IOC, Petronet LNG and Reliance also tumbled. The BSE Oil & Gas Index ended at 4,309.27, down 6.8 per cent.
The BSE Bankex also finished lower by 6.6 per cent at 4,305.20 as selling was seen in Kotak Mahindra, Union Bank, Bank of Baroda, UTI Bank, Oriental Bank and Canara Bank.
FMCG stocks like Shaw Wallace, Dabur India, P&G, HLL and Nirma also ended in red. The BSE FMCG Index closed at 1,660.95, down 4.59 per cent.
Technology stocks like I-Flex Solution, Moser Baer, Mphasis BFL, Wipro and Patni Computer also plummeted. The BSE IT Index dropped 3.63 per cent to end at 3,284.44.
The NSE cash turnover was at Rs 8329.55 crore and the NSE F&O turnover was at Rs 24463.13 crore. The BSE cash turnover was Rs 3676 crore. Total market wide turnover was at Rs 36468.68 crore versus Rs 36627.9 crore yesterday.
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Markets in deep red: CNX Midcap down over 11 per cent
There seems to be no end to the fall in the markets as they slipped further in the negative territory.
In the global markets, Dow closed in red, Asian markets trading with a loss of over two per cent.
In the emerging markets, Russia was down nearly three per cent, Brazil was down 3.5 per cent, Mexico was down two per cent.
CNX Midcap tumbled over 11 per cent, has been recorded as the worst fall since May 17, 2004.
Sensex at lowest level since Jan 2006
The fall has been recorded as the first time in nearly six months on all-round selling by foreign funds and retail investors.
Apparently, BSE 30-share index lost almost 700 points in the last three straight sessions.
Stock brokers said sustained selling by funds and panicky investors in bluechip and other stocks dragged down the Sensex to a six months low.
Foreign Institutional Investors vs Mutual Funds:
- FIIs net buy USD 18.9 million in equity on June 6
- MFs net sell Rs 257.7 crore (Rs 2.57 billion) in equity on June 6
- MFs net sell for 3rd day in a row
- NSE F&O Open Interest down Rs 481 crore at Rs 26,299 crore
- FIIs were net sellers Rs 74.48 cr in Nifty Futures on June 7
- FIIs were net buyers to the tune of Rs 294.23 cr in stock futures on June 7
- FIIs were net buyers to the tune of Rs 241.83 cr in F&O on June 7
"There are hardly any buyers even at prevailing low levels," said a broker.
Global bearishness continued to grip the Indian bourses as the BSE Sensex tumbled within five minutes of the opening of trading.
Heavy selling by domestic funds in the last couple of days coupled with offloading by panic-stricken operators and retail investors took its toll on share values right from the onset of business, dealers said.
On Wall Street, the Dow Jones Industrial Average and the Nasdaq Composite Index moved down further by 71.24 points and 10.98 points respectively last night.
Most of the Asian markets were also traded in deep red in the early morning trade.
(With agency inputs)
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