Seeing the sell trend and increased value of crude oil in the international market, sensex broke 536 points (1.46%) to close at 36,305.02 points. Similarly, Nifty too fell below 11,000 level. At the close of trade, Nifty was at 10,974.90 points, down 168.20 points (1.51%) from the previous close.
List of top gainers from the day included TCS, Coal India, Infosys, NTPC and Reliance. Whereas, the losers list was topped by HDFC, Tech Mahindra, Indiabulls Housing Finance and IndusInd Banks.
Equity indices have been going further down since the beginning of trade today. At one point, Sensex was down over 200 points, however, in last few minutes, it seems to have recovered.
At 10 AM, Nifty 50 is trading at 11082 points, down 60.9 points (0.55%) lowers, whereas, Sensex is trading at 36,682.87 points, down 158.73 points (0.43%) lower than the previous close.
In another news, shares of Usha Martin saw a huge jump in share prices after the news of Tata Steel acquiring it became public. However, Tata Steel shares were trading little lower than the previous close level.
After opening in red and going upto 0.5% in red, the indices seem to have recovered. At one point, the BSE Sensex was trading 150 points lower to the previous close, whereas, Nifty 50 was trading at 60 points lower.
At 9:30 AM, BSE Sensex was trading at 36,732.62 points, 0.30% (108.98 points) lower the previous close, whereas, Nifty 50 was trading at 11,102.95, down 0.36% (40.15 points) than the previous close.
The change in crude oil prices on the international market is also affecting the aviation stocks. After the initial 15 minutes of trading, Jet Airways and InterGlobe aviation stocks traded at an average of 4% lower than the previous day, whereas, Spicejet was down 1%
In the initial trends, both the major indices of the Indian stock market were seen slightly down as compared to the last close. The first update showed Sensex trading 0.07% lower to the previous close, whereas, Nifty 50 traded 0.09% lower than the previous close.
In the initial trade, ONGC, Cipla, Tech Mahindra, and Infosys were the top gainers, whereas, Maruti, Yes Bank, and Bajaj Finance topped the list of losers.