Trade war with the two economic giants including US and China have once again taken the front seat resulting in global markets along with the Indian stock market plunging in the red.
Benchmark indices are down 1.5 percent each with Nifty50 tanking 160 points and is trading at 10,836 while the Sensex plunged 533 points and is trading at 36,584 level.
Nifty PSU Bank cracked 4 percent dragged by State Bank of India which shed 4 percent after global brokerages cut price target on worries over higher Q1 slippages. The other losers are Indian Bank, Bank of Baroda, Bank of India, Canara Bank, Punjab National Bank and Union Bank of India.
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Nifty Energy shed over 2 percent, the top losers are Reliance Industries, GAIL India, Indian Oil Corporation and ONGC.
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The Indian rupee slipped in the early trade on August 5, opening at its lowest level since May 17 against the US dollar. China’s yuan skidded against the US dollar on August 5, weakening beyond the key 7-per-dollar level for the first time in more than a decade, as pressure mounted on the world’s second-biggest economy from an escalating trade row, a Reuters report said.
As a result the IT index was the only sector to trade in the green led by TCS and Infosys.
The top losers from the media space are Dish TV, Zee Entertainment, Sun TV Network, TV18 Broadcast, Zee Media, Hathway Cable and Den Networks.
India VIX zoomed 16.06 percent and is trading at 17.63 levels.
The top gainers from NSE include TCS, Bajaj Auto, Infosys, Cipla and HDFC while the top losers are YES Bank, Tata Motors, Indiabulls Housing Finance, Power Grid and SBI.
The most active stocks are Reliance Industries, SBI, HDFC, YES Bank and ICICI Bank.
543 stocks have hit 52-week low on BSE including Indian Bank, Future Consumer, V Mart Retail, YES Bank, Tata Motors (DVR), Tata Motors, Fortis Health, JSPL, Wockhardt, Tata Steel, Hindalco Industries, GAIL India, Bank of India, Motherson Sumi, Escorts and ITC among others.
303 stocks advanced and 1390 declined while 407 remained unchanged on the NSE. On the BSE, 397 stocks advanced, 1638 declined and 99 remained unchanged.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more. First Published on Aug 5, 2019 11:29 am
tags #Buzzing Stocks #Nifty #Sensex
