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Sensex Drops Again; Sheds 10 Per Cent In 3-Days

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Benchmark indices were trading lower again, after opening the day higher. The NIfty was down almost 33 pounts lower, while the Sensex lost 100 points.

 

The Dow Jones, which rallied more than 5 per cent overnight, helped push some Asian stocks like the Japanese Nikkei higher. The Dow Jones Futures, however, once again lost more than 3 per cent.

Shares in Yes Bank continued to trend higher, the shares were up more than 20 per cent at Rs 70. The morotarium on the bank is set to be lifted at 6 pm today. One will need to watch for the next 24-hours, whether there is a significant flight of fixed deposits from the bank.

Shares in Larsen and Toubro, were up marginally after reports that the board would meet to consider interim dividends. Banking stocks, which were hammered on Tuesday, with several of them falling to 52-week lows, managed to stage some recovery.

Zee Entertainment, which had crashed to a 52-week low on Tuesday, managed to stage a recovery and was trading higher by almost 7 per cent.

Shares of Interglobe Aviation, fell after reports that the company has cancelled flights on Delhi-Istanbul route and Chennai-Kuala Lumpur route from March 18 to March 31. Among the Nifty stocks that lost ground were Axis Bank, IndusInd Bank and Bajaj Finance.

 
Sensex Drops Again; Sheds 10 Per Cent In 3-Days

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