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13 May

Research Icon - Sensex hits 38-month low, tanks 1,800 pts, Nifty below 8k

The coronavirus-led sell-off in Indian equity markets continued on Thursday with the Sensex plunging to 38-month low levels and the Nifty breaching the level of 7,900 for the first time since December 27, 2016.

The S&P BSE Sensex fell 1,870 points, or 6.49 percent, to 26,990 levels and the Nifty50 index hovered around 7,950 levels, down 512 points, or 6.05 percent. 

Among individual stocks, Bajaj Finance plunged 13 percent while Kotak Mahindra Bank and IndusInd Bank were both down over 10 percent each. The HDFC twins were also both down 7 percent. 

Nifty Private Bank index was the biggest loser among sectoral indices, down over 8 percent, while Nifty Financial Service and Nifty Bank indexes slipped was down7 percent each. Nifty Bank index, meanwhile, slid to a fresh 3-year low level after falling over 6 percent.

In the broader market, the S&P BSE MidCap index slid 698 points or 6.29 percent, and the S&P BSE SmallCap index dipped 707 points or 6.95 percent. 

The volatility index, India VIX, jumped to a 12-year high and breached the 70-mark.

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