Sensex Plunges 418 Points, Ends at 20-Month Low of 24,062

3.35 p.m.: The BSE Sesnex ended 418 points lower at 24,062 led by a selloff in global equities. It was the weakest close for Sensex since May 15, 2014. The 50-shares index closed 126 points lower at 7,309. During intraday trade the Sensex plunged as much as 640 points to 23,839.76 and the Nifty broke below the 7,250 level amid broad based selloff. Sector wise, metals, banks, energy and realty stocks witnessed maximum selloff falling between 2.5-4.7 per cent. In the Nifty index, Vedanta was the top loser, which ended 7.73 per cent lower at Rs 63.90. Hindalco, Adani Ports, PNB, Yes Bank fell over 5 per cent each to be prominent losers in the Nifty. Meanwhile, Idea Cellular was the top gainer in the index, up 0.73 per cent followed by Bajaj Auto and HCL Tech. Only six out of the 50 stocks in the Nifty index ended with gains and 44 stocks ended lower. Broader markets also could not escape selloff today. The BSE Midcap index and the Smallcap index fell 2 per cent each. Market breadth remained weak. Out of the 2,753 shares traded on BSE, only 513 shares advanced while 2,102 shares declined and 138 shares remained unchanged. 3.25 p.m.: Rupee shows some recovery, trades at 67.99 against the dollar, up from day's low of 68.17. 3.12 p.m.: Sanjiv Bhasin of IIFL says if Nifty manages to close above 7,300 and stays above that mark for few days then today's low could be a bottom. 3.02 p.m.: Sensex showcases minor pullback from day's low, down 472 points at 24,008. Nifty at 7,292. Index heavy weights like SBI, RIL, Infosys witness some recovery from day's low. 2.41 p.m.: Sensex falls nearly 650 points, its biggest fall since August 24, 2015 to 23,839.76 and the Nifty breaks below the crucial psychological level of 7,250. Rupee weakens further to 68.17. 2.16 p.m.: US Stock futures trade over 2 per cent lower; Nasdaq futures at 4,045 (-2.39%), S&P 500 futures at 1,832.6 (-2.15%). 2.10 p.m.: Indian markets extend fall as European indices fell 2.5-3 per cent. The Sensex made a low of 23,902.20 while the 50-shares Nifty slumped 2.3 per cent to 7,257.25. The rupee fell to 68.12 per dollar at day's low. 1.58 p.m.: Sensex falls to fresh intraday low, down 509 points at 23,970 and the Nifty slumps to 7,278.20, down 157 points. Reliance Industries and SBI lead the selloff in Sensex, down 4.5 and 5.5 per cent respectively. These two companies alone contributed 130 points to Sensex's fall. 1.39 p.m.: Markets extended fall tracking a weak opening in European stock market. The Sensex fell 505 points to 23,975 and the Nifty fell to 7,281.95. India VIX or the volatility index rose 13 per cent to 20.80 as traders rush to buy index puts to get cover from market selloff. 1.17 p.m.: Sensex down 447 points at 24,033 and the Nifty fall 136 points to 7,299.The rupee trades at 68.04 per dollar after touching an intraday-low of 68.08. 12.35 p.m.: Jagdish Malkhani, member of NSE, says volatility is high, best will be to wait for crash to subside. Buying large blue-chip banks will be safe after volatility comes down, he advised. 12.04 p.m.: Sensex fell nearly 500 points to below the 24,000 mark for the first time since May 16, 2014. The weakness in markets also led to selloff in rupee, which fell 41 paise against the dollar to 68.06 against Tuesday's close of 67.65. 11.27 a.m.: Weakness in rupee continues to weigh on markets. Sensex is down 368 points at 24,112 and the 50-share Nifty is down 115 points at 7,320. Metal, Banks and oil & gas shares lead selloff in markets. Vedanta is the top loser in the Nifty, down 5.7 per cent. 11.15 a.m.: Rupee falls to 68 per dollar against Tuesday's close of 67.65, weakest since August 2013. 11.02 a.m.: Aditya Birla Nuvo shares fall 53.50 per cent to Rs 960.50. The stock went ex-spin off today. Aditya Birla Nuvo's branded apparel business will be hived off to Aditya Birla Fashion and Retail. In May last year, Aditya Birla Nuvo announced merger of all its branded apparel businesses into one entity, Pantaloons Fashion & Retail, which will now be known as Aditya Birla Fashion and Retail. The apparel businesses of Aditya Birla Nuvo and of another group firm Madura Garments Lifestyle Retail would be demerged into listed firm Pantaloons Fashion & Retail (PFRL), the company had said earlier. 10.48 a.m.: Axis Bank shares are down 3.7 per cent at Rs 375.40. The private-lender is expected to report a net profit of Rs 2,000 crore on net interest income of Rs 4,020 crore for the December quarter. 10.35 a.m.: Anil Manghnani, director of Modern Shares & Stock Brokers, said Nifty may fall to 7,100 levels, which is the 200-week exponential average for Nifty. However, if Nifty falls to 7,100 level it becomes a convincing buy, because 7,120 is the 50 per cent retracement of 5,119 bottom and the 9,119 top, he added. 10.07 a.m.: Energy and oil & gas shares lead selloff in the market. Vedanta, Cairn India, Adani Ports were the top three losers in the index falling between 4.2-5.5 per cent. The BSE oil & gas index was down 1.82 per cent and the energy sub-index of NSE fell 2.08 per cent. Reliance Industries fell 2.5 per cent, despite reporting a strong Q3. The Nifty was down 1.54 per cent at 7,320 and the Sensex was at 24,121, down 359 points. 9.44 a.m.: The Indian rupee trades at 67.91 against the dollar after falling to an intraday-low of 67.95 compared to Tuesday's close of 67.65. 9.37 a.m.: Nifty falls 131 points to break below 7,300 for first time since June 2, 2014. The Sensex is down 415 points at 24,065. Banking, energy and oil & gas stocks lead selloff in the market. 9.20 a.m.: The Sensex fall over 400 points to a fresh 20-month low of 24,068.62 while the 50-shares Nifty was hovering around the 7,300 mark, down 128 points. Selloff was seen across the sectors. Bank Nifty was down 2.3 per cent, NSE's sub-index for energy, IT pharma, realty, FMCG were all down between 0.7-3 per cent. In the Nifty index Cairn India was the top loser, down nearly 5 per cent. Vedanta, PNB, Bank of Baroda, Adani Ports, L&T were the other prominent losers in the index falling between 3.2-4.2 per cent. Reliance Industries, which reported strong earnings for the December quarter post market hours yesterday, was down 2.6 per cent at Rs 1,017 as crude oil fell to fresh lows today. The oil & gas sub-index of BSE fell 2.2 per cent. Sun Pharma was the oily gainer in the Nifty index, up marginally. 9.00 a.m.: Rupee opens lower at 67.77 per dollar against Tuesday's close of 67.65. 8.00 a.m.: The BSE Sensex and the Nifty are likely to open lower on Wednesday tracking weakness in other Asian markets. Nifty futures trading on Singapore Stock Exchange is down 70 points, at 7,367. Asian markets fell sharply tracking a relentless slide in crude oil. The Hang Seng plunges 2.66 per cent, Japan's Nikkei fall 2.15 per cent, China's Shanghai Composite slips 0.24 per cent. Sentiment is likely to be weak as foreign investors continued to sell domestic equities; on Tuesday they have sold cash shares worth Rs 858 crore. Foreign investors have been net sellers in 12 out of the last 13 trading sessions. However, domestic institutional investors continue to support markets by pumping Rs 1,387 crore in to equities on Tuesday. Domestically, Reliance Industries is likely to react positively to its December quarter earnings. RIL reported a record profit of Rs 7,218 crore on the back of a seven-year high refining margins of $11.5 per barrel. Other Nifty stocks like Axis Bank and Ultratech Cement report their earnings today. Overnight, US market ended flat as falling oil prices led to more carnage in energy stocks. The Dow Jones industrial average ended up 0.17 per cent and the S&P gained 1 point to end at 1,881.33. The Nasdaq Composite fell 0.26 per cent to 4,476.95.

Sensex Plunges 418 Points, Ends at 20-Month Low of 24,062

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