INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Key stock indices had a terrible time on Thursday, taking their losing streak to the third straight day, derailed by a global
selloff.
Weakness showed up almost everywhere
Asian shares plunged on fears of a flare-up of tension between the US and China after the arrest of a senior executive of Chinese company
Huawei at the request of the US.
European STOXX 600 index skidded 1.8 per cent to its lowest level since December 2016, according to a
Reuters report.
FII outflow went on unabated as the RBI poured cold water on any hopes of a special liquidity window for NBFCs in its fifth
bi-monthly policy meet on Wednesday
Investors avoided fresh bets and sold across sectors to avoid further casualties ahead of state election results
The Indian rupee rolled down further even as global crude oil prices traded weak
Taking a hit of 572 points, or 1.59 per cent, the BSE Sensex shut shop at 35,312, with Sun Pharma (up 1.57 per cent) as the lone gainer
The NSE benchmark Nifty lost 182 points, or 1.69 per cent, to close at 10,601.
BSE Midcap and Smallcap indices fell in sync with Sensex,
closing 1.54 per cent and 1.36 per cent down, respectively
Let's take a look at highlights of Thursday's session.
Rs 2.26 lakh crore gone!BSE companies lost over Rs 2.26 lakh crore cumulatively on
Thursday as the overall market capitalisation of BSE listed firms plunged to Rs 1,39,88,579.68 crore, from Rs 1,42,15,154.67 crore
During the last three sessions, investors have lost about Rs 3.64 lakh crore
Top losers of the dayNavkar Corporation (down 10.35 per cent), Sharda Cropchem (down 7.67 per cent), NCC (down 7.27 per cent), Muthoot
Finance (down 7.10 per cent) and South Indian Bank (down 6.19 per cent) became the top casualties on the BSE
Among the Sensex stocks, Maruti Suzuki, Tata Motors, YES Bank, Adani Ports and Reliance Industries plunged the most, between 2.72 per cent
and 4.63 per cent.
Energy top sectoral loserThe energy pack finished the day as the top sectoral loser on the BSE, falling 2.35 per cent
Reliance Industries, ONGC, Indian Oil Corporation, Coal India, BPCL and HPCL contributed the most to the fall of the index.
220 stocks touch
52-week lowsAs many as 220 stocks, including Tata Motors, SAIL, NMDC, Amara Raja Batteries, Ashok Leyland, Balkrishna Industries, Bharat
Forge, Jindal Steel Power and ILFS Transportation Networks, hit 52-week lows on the BSE
However, Franklin Industries, Mishtann Foods, Raghuvansh Agrofarms, Trescon and Adi Rasayan featured among the 26 stocks that defied bearish
market sentiment to hit 52-week highs.
251 stocks hit lower circuitThursday's selloff saw 251 stocks, including Kwality, ILFS Transportation
Networks, Ruchi Soya Industries, Mercator and Rolta India, hitting lower circuit
Meanwhile, 139 stocks, including Vakrangee, Birla Cable, Adlabs Entertainment, Blue Coast Hotels and Goldstone Technologies hit upper
circuit.
159 stocks give bearish signalMomentum indicator moving average convergence divergence, or MACD, showed bearish crossovers on 159
Among the stocks that showed bearish crossovers were ITC, Adani Power, Hindalco, DLF, Allahabad Bank, Escorts, Aurobindo Pharma, Rolta
India, Grasim Industries and Apollo Tyres
On the other hand, PTC India, Indag Rubber, Cyient, Talwalkars Lifestyle and Indo Borax were among the 44 stocks that displayed bullish
crossovers on BSE.
Overbought and oversold stocksPunj Lloyd, Arvind, Jindal Stainless, ILFS Transportation, Esaar (India) and Universal
Starch were on the list of the 49 stocks that entered the oversold zone, according to momentum oscillator Relative Strength Index, or RSI
On the other hand, Jaypee Infratech, Minolta Finance, Orient Tradelink, Maestros Electronics and Maharashtra Scooters were among the 29
overbought stocks on BSE.
Bajaj Finserv, Adani Ports below 200-DMABajaj Finserv, Ultratech Cement, Graphite India, Adani Ports, Adani
Enterprises, Kotak Mahindra Bank, V-Guard Industries and Exide Industries saw negative breakouts today to trade below their 200-DMA.
Nifty
forms a Bearish Marubozu candleThe Nifty breached its 200-DEMA and formed a Bearish Marubozu candle on the daily chart
The index has been making lower highs and lower lows for the last three sessions, and on Thursday broke two crucial supports of 10,777 and
