Free fall continues on D-Street, Sensex plunges 1500 points; Rupee at 66.59/$

Markets have slumped further in the late trade withSensex plunging over 1200 amid global sell-off as worries about China's economy deepened. A steep fall in the rupee mirroring trends in other emerging market currencies has dented the sentiments.

At 2:18 PM, the Sensex has plunged 1512 points at 25,855 levels and the Nifty has crashed 472 points 7,828.

All sectoral indices are trading in red with BSE Realty index slumping nearly 9%.

The carnage on Dalal Street continued in noon trades on Monday as investors shunned equities tracking a sharp sell-off in Chinese stocks amid concerns that the sluggish growth in China would lead to global economic slowdown.

At 1PM, the 30-share Sensex was down 1085 points at 26,281 and the Nifty slumped 341 points at &,959 Stock Market Trading Tips

"Indian stock markets are witnessing contagion effect of caution in global markets on a suspected China slowdown. While Indian markets have remained resilient and outperformed regional peers thanks to India's better macro performance over the last two years the overhang of a global risk-off could see capital outflows leading to an excaberated correction in the markets. We continue to expect Indian markets to remain an outperformer among emerging markets," said Tirthankar Patnaik, India strategist, Mizuho Bank

In the broader market, BSE Mid-cap and Small-cap indices were down 4% each.
Market breadth weakened further with 1,859 losers and 223 gainers on the BSE.

Meanwhile, foreign investors remained net sellers in equities with huge sale of Rs 2,341 crore on Friday, as per provisional stock exchange data Financial Astrology Tips

GLOBAL MARKETS

Asian shares slumped on Monday as investors dumped riskier assets on fears that economic slowdown in China would have an impact on other economies in the continent. The benchmark Shanghai Composite plunged 9.2% while Hang Seng ended down 5.4% tracking losses in mainland China. Shares in Japan also witnessed selling pressure with the Nikkei down 4.8% while the Straits Times eased 3.8%.

European shares also opened sharply lower tracking the sharp plunge in Chinese stocks . The CAC-40, DAX and FTSE-100 were down 3.7-5% each in early trades Commodity Market Astrology Tips


RUPEE

The Indian rupee also dropped to fresh two-year low amid fears of foreign capital outflows tracking weakness in domestic equities and was trading at 66.51 down 69 paise to the US dollar compared to it previous close on Friday.

Meanwhile,  Reserve Bank of India  governor Raghuram Rajan in his speech at FIBAC 2015 today assured the street that the central bank will have no hesitation in using foreign exchange reserves in a bid to reduce volatility.

“We have approximately $ 380 billion in reserves to be used as and when the need arises. We will have no hesitation in using our reserves when appropriate to reduce volatility in the rupee,” he said Jackpot Stocks Trading Tips

SECTORS & STOCKS

All sectoral indices were in the red with Realty index down over 6% followed by Oil and Gas, Power and Bankex down over 5% each among others.

Some of the Sensex stocks which hit 52-week lows today include ICICI Bank, Tata Motors, Oil and Natural Gas Corporation (ONGC), Tata Steel, Hindalco Industries, Cairn India, Gail (India), NMDC, NTPC, Tata Power Company and Vedanta Share Market Astrology

Banks which are a proxy to the economy witnessed selling pressure on concerns that demand for credit would remain subdued on account of sluggish economic growth. The Bank Nifty was down nearly 5%. HDFC, ICICI Bank, HDFC Bank, Axis Bank and SBI were down 3-6% each.

Shares of oil and gas companies witnessed selling pressure with some of them hitting 52-week lows after concerns over sluggish economic growth in China led to sell-off in global commodities. Further, Iran's plans to boost crude oil production in an effort to boost market share also dampened sentiment. ONGC, Gail, Reliance Industries were down 4-6% each while state-owned marketing companies such as  BPCL, HPCL and IOC were down 4-6% each.

IT stocks which gained in the previous sessions witnessed profit taking with Infosys, Wipro and TCS down 1.7-2.5% each Himanshu Tiwari Astrologer Blog

Index heavyweights Reliance Industries was down nearly 5%.

Capital goods shares also witnessed profit taking on concerns that fresh order inflows may be impacted. L&T and BHEL down 3-6% each.

Metal stocks weakened on worries over lower demand from China, the world's largest consumer. Vedanta dropped over 7% while Tata Steel and Hindalco were down 3-4% each.

Auto stocks witnessed profit taking on concerns that sales growth in August would remain muted. Tata Motors, Maruti Suzuki, Bajaj Auto, Hero MotoCorp and M&M were down 3-5.5% each Indian stock market astrology prediction

Dr Reddy’s Lab was down nearly 4% after the company initiated a voluntary recall of Rivastigmine Tartrate Capsules of 1.5 mg strength from the USA market, following failed dissolution specifications.

Among other shares, Nestle India was  trading higher by 1.7% in an otherwise falling market as the company decides to  reinstate, the popular instant noodles, Maggi back in the market by end of this year subject to certain clearances Nifty Trading Tips