Sensex News: Sensex Crashes to Record Low
The Benchmark Sensex recorded huge dip thus making investors lose 7 Lakh Crore and Rupee falls to 66.65
Sensex Crash News: Investors lose up to 7 Lakh Crore
The Benchmark Sensex Crashed by 1,624.51 points on Monday which is highest single day fall and the index ended below 26,000 points mark at 25,741.56 Points which is lowest for last two years. The rupee sank by 82 paisa thus ending at 66.65. Nifty was down by 436 points at 7,863.
The wealth loss to investors is about 7 Lakh Crore in 5.94 percent fall down of sensex as investors sold off their shares to all the sectors including Auto, Banking, Real Estate, Infrastructure, Energy at IT.
Stock hit 52 week low
205 Stocks recorded their biggest low of 52 Weeks which includes Adani Power, GAIL, ICICI Bank, Tata Motors, Tata Steel , ONGC, NTPC, ABG Shipyard, Aban Offshore and others.
There were other stocks which hit their 1 year low including MOIL, Mysore Bank, SAIL, PFC, HCC, NHPF, NDMC, UCO Bank, Vijaya Bank, Orbit Corporation, RCom, Simplex Projects and others.
Biggest Losers of the Stocks
Amtek Auto shares were the biggest loss as stock sank by 17 percent and they witnessed intense pressure for selling their shares, Jet Airways stocks dipped by 12.83 percent and SKS Microfinance sank by 11.42. Bank of India witnessed 11.71 share tumbles.
Stock Gainers in the Sensex Bloodbath
There were 200 stocks that witnessed rise in the crashing Sensex. The stocks include Nestle India which witness around 2 percent rise and ended at 6,206.7 BSE. NSE, Videocon, Jindal Worldwide, Orissa sponge and Iron were among other gainers.
Reasons for Sensex Crash
The Benchmark Sensex (BSE) Crash is majorly due to dip in China’s Economy and their devalued currency Yuan which hit the global finance market. The fall in Sensex is due this global market tumble and the same reason is the cause for weakening Rupee.