Another Day Of Savage Selling; Sensex Ends 811 Points Lower

Benchmark indices had another volatile day in trade, moving between gains and losses, after ending yet another day substantially lower.

The Sensex ended the day lower by 811 points, while the Nifty lost ground by 231 points, to end the day below the 9,000 points mark at 8967. European markets, which were trading sharply higher, suddenly dipped into the red, which pushed Indian indices lower too.

Yes Bank, was the star in trade today, after a rating upgrade. The stock jumped 58 per cent in trade. Few of the other gainers in trade were Hindustan Unilever, Hero MotorCorp and PowerGrid Corporation.

Zee Entertainment was the top loser, dropping as much as 17 per cent in trade. Among the other losers were IndusInd Bank, Bharti Infratel and Bajaj Finserv. Banking and NBFC stocks were the biggest losers with Bandhan Bank, ICICI Bank, L&T Finance Holdings etc., seeing some huge losses.

Shares in Sun Pharma ended the day with marginal gains, after the company said it will buyback 4 crore shares, representing 1.67 percent of the total number of shares of the company.

Meanwhile, the US Dow Futures which were initially trading higher by almost 4 per cent, quickly dipped into the negative. Markets are likely to remain volatile going ahead.