Indian equity benchmarks were trading lower amid weak global market sentiment today. The 30-share BSE Sensex crashed 719 points to 63,329 and Nifty slipped 221 pts to 18,900. All 19 sectoral indices on BSE were trading in the red. Market volatility index India VIX climbed 10.88% to 12.54 in morning trade today.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "There is risk-off in global equity markets triggered by a combination of economics and geopolitics. The Israel-Hamas conflict continues to be a major headwind for markets. In the near-term, however, the strongest headwind for the market is the stubbornly high US bond yields. With the 10-year bond yield at near 5%, FPIs are likely to be in a sell mode. Sectors such as banking and IT, which constitute the largest segments of the AUM of FPIs are likely to be under pressure."
Shares of Welspun India plunged 8 per cent to Rs 131.05 in early deals. The crash in the stock comes a day after a rally of over 11 per cent on better-than-expected September quarter results. Market capitalisation of the firm fell to Rs 12,803 crore. Total 7.94 lakh shares changed hands amounting to a turnover of Rs 10.71 crore. The stock was among the top losers on BSE.
Shares of Tata Motors fell nearly 2% to Rs 624.85 in early deals. Market capitalisation of the firm fell to Rs 2.08 crore. Total 4.46 lakh shares changed hands amounting to a high turnover of Rs 28.02 crore. Tata Motors said on Monday it unveiled two research and development (R&D) facilities, aimed at advancing hydrogen fuel technologies, at its Pune centre.
Shares of Adani Green Energy slipped nearly 7% to Rs 816 in early deals. Market capitalisation of the firm slipped to Rs 1.31 lakh crore. Total 1.05 lakh shares changed hands amounting to a turnover of Rs 8.77 crore. The crash in the stock comes amid a Bloomberg report suggesting that the Gautam Adani-led group’s long-time auditors was being scrutinised by accounting regulator The National Financial Reporting Authority (NFRA).
Shares of RVNL slipped 6% to Rs 142.10 in early deals. Market capitalisation of the firm fell to Rs 30,097 crore. Total 18.18 lakh shares changed hands amounting to a high turnover of Rs 26.29 crore. The company last week won orders worth Rs 419 crore from Western Railways.
Shares of Delta Corp slipped 4.23% to Rs 129 in early deals. Market capitalisation of the firm fell to Rs 3482.36 crore. Total 1.17 lakh shares changed hands amounting to a turnover of Rs 1.53 crore.
Shares of Adani Enterprises slipped 4.04% to Rs 2166.80 in early deals. Market capitalisation of the firm slipped to Rs 2.51 lakh crore. Total 1.30 lakh shares changed hands amounting to a high turnover of Rs 28.63 crore. The crash in the stock comes amid a Bloomberg report suggesting that the Gautam Adani-led group’s long-time auditors was being scrutinised by accounting regulator The National Financial Reporting Authority (NFRA).
Shares of Prism Johnson rose 9.77% to Rs 132.50 against the previous close of Rs 120.70 on BSE. Market capitalisation of the cement making firm climbed to Rs 6,505 crore. Total 0.82 lakh shares changed hands amounting to a turnover of Rs 1.05 crore. The stock was the top gainer on BSE.
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