Sensex bleeds over 1,100 points briefly, recovers thereafter

Shares of Yes Bank, Maruti Suzuki, Infosys, Sun Pharma and Tata Motors were the biggest drags in the Sensex pack.

Sensex bleeds over 1,100 points briefly, recovers thereafter

New Delhi: Markets cracked over 1,100 points amidst a sudden sell-off in the afternoon trade with te Sensex coming down 36,000 level and the Nifty falling below 11,000-mark.

Markets recovered its major crash immediately threafter but was trading in negative territory. Sensex was trading low at 36,867.70, down 253.52 points or 0.68 percent.

Intra-day, Sensex swung to a low of 35,993.64 and a high of 37,489.24. Nifty was down at 11,149.60, falling 84.75 points or 0.75 percent.

Shares of DHFL tanked more than 55 percent, its biggest drop intra-day, following the massive sell off in NBFCs and housing finance companies.

Shares of Yes Bank, Maruti Suzuki, Infosys, Sun Pharma and Tata Motors were the biggest drags in the Sensex pack.

Yes Bank stock was the top loser among the blue chips on both the key indices during the afternoon trade after the RBI asked its managing director and CEO Rana Kapoor to step down after an extended term till January 31, 2019. The company's market valuation slumped nearly Rs 20,000 crore to Rs 54,379.46 crore on BSE in the afternoon.

The Sensex had lost 969.42 points in the previous three sessions. The stock market was shut Thursday on account of Muharram.

Meanwhile, domestic institutional investors (DIIs) made purchases worth a net of Rs 1,201.30 crore, while foreign portfolio investors (FPIs) sold shares worth a net of Rs 2,184.55 crore Wednesday, provisional data showed.

 

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