Bears on the rampage as U.S.-China spar  

#GS3 #Economy  

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.  
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