Nifty Clasps 10,800; Massacre on D-St! Sensex Plummets 1,114 Points
On Thursday, 24 September 2020, It was a massacre on D-Street on September 24. The S&P BSE Sensex plunged in excess of 1,000 points and the Nifty failed in excess of 300 points as the market finished in the red 6th day straight in its greatest losing streak in seven months.
The S&P BSE Sensex finished the day down 1,114 points to 36,553 while the Nifty50 fell 326 points to close at 10,805, slipping beneath essential help set at 11,000-10,900.
If you talk about sector-wise performance, in sectors like
IT, auto, metals, banks and public sector space selling pressure was seen.
The more extensive business sectors finished a shade better. The S&P BSE midcap file was down 2.1 percent while the S&P BSE smallcap list plummeted 2.2 percent, possibly beating the benchmark indices.
Bharti Infratel and HUL were among the top Nifty gainers.
Tata Motors, Bajaj Finance and IndusInd Bank were among the top Nifty losers.
Stocks of the day
If talking about the stock sector-wise, the S&P BSE IT index was seen to plunge 4.4 percent, BSE auto index was low 3.5 percent and the S&P BSE Metal index downturned 3.5 percent.
Profit-taking was visible in the S&P BSE Telecom space that was down 0.9 percent, followed by the S&P BSE Public Sector that fell 0.5 percent, and the S&P BSE Utilities fell 0.9 percent.
A volume spike of more than 100 percent was seen in stocks like SBI Life, Indiabulls Housing Finance and Vedanta.
The stocks like Idea, Vedanta and Chola Finance. showed Long buildup.
The stocks like SBI Life, Motherson Sumi and Lupinshowed a short buildup.
More than 100 stocks on the BSE including Apollo Hospitals, Route Mobile and Majesco hit a fresh 52-week high.
Gold costs debilitated for the fourth progressive day by Rs 505 to Rs 49,822 for every 10 gram in the Mumbai retail market on firm US dollar and auction in equity markets. The valuable metal is unpredictable today after a sharp 2.1 percent decay yesterday.
The cost of 10 gram 22-carat gold in Mumbai was Rs 45,637 in addition to 3 percent GST, while 24-carat 10 gram was Rs 49,822 or more GST. The 18-carat gold cited at Rs 37,367 or more GST in the retail market.
Crude oil fate traded steady at Rs 2,955 for each barrel on September 24 as participants paced to increament their long positions. Prices trimmed morning session losses and traded in the green thenceforth in the afternoon session.
Silver costs tumbled to Rs 56,686 for every kg on September 24 as members expanded their short positions. Valuable metals traded sideways to let burdened by solidness in the Dollar Index and shortcoming in equity indices.