Sensex Tanks 800 Points, Tata Motors Falls 4% In Trade

On weak global cues, Sensex and Nifty tanked sharply today. Sensex is down by around 800, while Nifty is down by around 205 points in trade. At the time of writing, Sensex stood at 57,537.43 points, and Nifty was quoted at 17,108.40 points. The stock markets are weighted down by a fall in automobile and IT stocks. Nifty auto fell by 1.43%, and Nifty IT fell by 1.29% in trade. Tata Motors slips by around 4%, Hero Motocorp fell by 3.19%, Bajaj Auto was down by 1.47%, while Mahindra & Mahindra fell by 1.06%.

Tata Motors, Hero Motocorp and Bajaj-Auto are top losers, followed by HDFC, Reliance, Cipla, Tech Mahindra ITC, Asian Paints and BPCL, on NSE today. On the other hand, TCS is a top gainer today, ahead of its Q2 earnings report.

Fresh 52-week high and 52-week low stocks

The top stocks to reach 52-week high level on NSE in intra day trading are Axita Cotton Limited, Jindal Drilling And Industries Limited, Autoline Industries Limited, Tata Chemicals Limited, and Garden Reach Shipbuilders & Engineers Limited. On the other hand, Agro Tech Foods Limited, Tamilnad Mercantile Bank Limited, Fino Payments Bank Limited, and Akshar Spintex Limited hit fresh 52-week low today.

Recently, the US Labour Department published strong non-farm payroll data for September. The US unemployment rate has fallen to 3.5% from 3.7% the previous month, which has strengthened the US Dollar index and Bond Yields, pulling down the stock markets and commodity markets. After this employment data, the US Federal Reserve is expected to remain on track to raise the interest rate in the country, which is again triggering equity investors.

Meanwhile, in the Asian stock markets, Nikkei stood at 27,116.11 points down by 0.71%, and Kospi stood at 2,232.84 points down by 0.22%. In the US, S&P 500 plunged sharply by 2.80%, and Dow Jones Industrial Average fell by 2.11% in trade, at the time of writing.