Sensex, Nifty slide over 1% in volatile trade; HDFC falls 4%
The S&P BSE Sensex fell 796 points to 66,800.84, while the NSE Nifty 50 ended 231.90 points to 19,901.40.
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The S&P BSE Sensex fell 796 points to 66,800.84, while the NSE Nifty 50 ended 231.90 points to 19,901.40.
Stocks like Bajaj Finance, Hero Moto, IndusInd Bank, AB Capital, Bandhan Bank, Oberoi Realty and Shriram Finance can remain under pressure. Investors can start accumulating BPCL and ITC in the fall, said analysts.
Sensex plunges over 700 points: The Sensex, the benchmark stock index of the Bombay Stock Exchange (BSE), plunged 700 points on August 1, 2023, to close at 37,668.42. This was the biggest single-day drop since March 2022, What to expect & dos and don'ts Latest Updates at news18.com
Jefferies says deterioration in global macro and valuations concerns would catch up with Indian markets, even as earnings could see some support in September quarter from an early festive season.
The difference between India’s 10-year GSec yield and the Nifty’s earnings yield is at a point at which negative equity returns usually ensue, states the latest report by CLSA.