Bears on the rampage as U.S.-China spar
BSE, Nifty plunge deep into red; poor corporate earnings depress sentiment; volatility index rockets
- The 30-share Sensex lost a whopping 2,002.27 points, or 5.94%, to close at 31,715.35.
- As many as 28 of the 30 constituents of the benchmark ended deep in the red on Monday.
- Stocks such as ICICI Bank, Bajaj Finance and HDFC lost more than 10% each while IndusInd Bank, Axis Bank, HUL, Reliance Industries, Tech Mahindra, Infosys and State Bank of India, among others, also declined.
- In the broader market, more than 1,800 stocks lost ground as against about 550 gainers.
- The Nifty lost 566.40 points, or 5.74%, to close at 9,293.50.
- More importantly, the India VIX index, which was trading flat in the last few trading sessions, spiked almost 29% on Monday.
- Elsewhere in Asia, Hang Seng lost over 4% on Monday while Nikkei was down nearly 3%. The benchmarks of South Korea, Taiwan, Indonesia, Malaysia, Philippines and Singapore all closed in the red.