INSUBCONTINENT EXCLUSIVE:
Stock markets plunged on Wednesday amid weakness, extending their losses to a fifth straight session
The BSE benchmark index Sensex plunged 536 points, or 1.5 per cent, to close at 36,305, while the NSE Nifty dropped 168 points, or 1.6 per
The 50-scrip index registered its biggest single-day percentage loss since March 16
It had last closed below the 11,000 mark on July 19
Weakness across banking, financial services, auto and consumer goods stocks dragged the markets lower
However, strong gains in IT shares limited the downside
financial companies.Here are 10 things to know about Monday's trading session:1
Forty one stocks on the Nifty 50 finished the session lower
losses of 6 per cent and 7 per cent.2
The Nifty Bank and Nifty Financial Services - the NSE's sectoral indices comprising banking and financial services stocks respectively -
markets and it has a domino effect on sectors such as real estate and autos," news agency Reuters cited AK Prabhakar, head of research at
IDBI Capital, as saying.4
Dewan Housing Finance (DHFL) shares, which nearly halved in value on Friday after a credit rating agency downgraded ILFS's non-convertible
debentures, closed 12 per cent higher, after the company clarified that it had no exposure to ILFS Group.5
On the other hand, IT stocks rose sharply with the Nifty IT finishing 2.3 per cent higher
shares finished 22.2 per cent higher.6
The rupee declined against the US dollar, to touch an intraday low of 72.49
Finance Minister Arun Jaitley said in a tweet that the government "will take all measures to ensure that adequate liquidity is
to impose higher import duties on precious stones, certain types of steel and electronics but will spare gold to prevent smuggling, Reuters
for the outcome of the US Federal Reserve's two-day policy meeting that begins on Tuesday.(With agency inputs)
