Sensex Rallies Significantly From Its Day’s Low to End at 28,288 Points

The Indian equity markets have continued their losses to mark the end of Thursday. The BSE Sensex ended the day at 28,288 points. It closed 2% or 581 points lower by recovering a whopping 1,724 points from its day’s low. Bajaj Finance lost the most (10%) while ITC gained the most on the Bombay Stock Exchange (BSE). 

The BSE Sensex recorded its day’s low and high at 26,714.36 and 29,370 points respectively. Bajaj Finance, Axis Bank, ICICI Bank, and Reliance Industries (RIL) are the biggest losers that contributed to index fall. Infosys, HDFC Bank, and ITC provided the index with some respite. 

The NSE Nifty50 closed Thursday 2.42% or 205 points down. It ended at 8,263 points. 40 of the 50 stocks constituting the NSE Nifty50 index collapsed while the remaining ten rallied. VIX, the volatility index India, rallied to touch 71.95 levels to mark the end of Thursday. It gained nearly 13%.

Also Read: Nifty Slides to Three Year Low, Sensex Sheds 811 points

The Indian rupee has continued to fall. It has now fallen to a record low of 75.01 against the United States dollar (USD). This has come on the back of markets tumbling across the world, and the investors resorting to holding the dollar for its safety. 

Coming to sectoral indices, the NSE Nifty Auto dropped the most. It fell 6% to settle at 5,195 points to end Thursday, the Nifty Metal and Nifty Media followed suit. On the other hand, broader market indices Nifty SmallCap and Nifty MidCap indices dropped 5.5% and 4% respectively. They closed at 3,797 and 12,053 points respectively. 

The American dollar shot up on Thursday. This resulted in bonds falling, and global markets experienced volatility. The hope given by the European Central Bank offered a brief relief while the world continued to be plagued by the coronavirus pandemic. The Chinese and Honk Kong markets continued to witness a steep fall.

For any clarifications/feedback on the topic, please contact the writer at vineeth.nc@cleartax.in

You May Also Like

24K Gold Rate in India for July 2019: Week 5 (29 – 31)

Trading commenced for the final week with gold price in India holding…

Is income tax applicable on Bonus Income?

Did you know that tax deductions don’t apply for the incentives and…
Gold Jewellery

24K Gold Rate in India for October 2019: Week 3

The week commenced with the gold rate in India holding at Rs.38,300…

Union Budget 2019: Impact on Banking and Finance Sector

The Union Budget 2019-20 was announced by the Minister of Finance Nirmala…