Markets Crash Again on Global Cues , Inflation Concerns | CORPORATE ETHOS

Markets Crash Again on Global Cues , Inflation Concerns

By: | February 9, 2018
market-crash
Feb 9: India’s equity market crashed again on Friday on global cues, decline in Asian markets  and concerns over possible rise in inflation as stated by Reserve Bank of India (RBI).
The BSE Sensex lost 1.18% or 407 points to 34,005.76 while Nifty fell 1.15% to 10,454.95 with as many as 38 scrips in the index showing decline.
Among the major BSE Sensex gainers were Fortis 148.30 (17.61%), SAIL 93.95 (9.12%), HFCL 30.70 (8.10%) while Nifty gainers were HCL Technologies 965.50 (2.224%), Cipla 626 (2.18%), Tata Steel 684.55 (1.95%), Lupin 821.50 (1.11%) and Asian Paints 1,136 (2.06%).
Major Nifty losers were Yes Bank 325.10 (-2,96%), Auro Pharma 587.85 (-2.33%), Tech Mahindra 594.75 (-2.22%), SBI 295.40 (-1.99%) and Infosys 1,112 (-1.96%).
Among major Sensex losers were Glenmark 535.10 (-7.43%), J M Financial 150.75 (-4.80%), Hathway 37.10 (-4.50%), Oberoi Realty 456.75 (-4.32%) and DB Corp 315 (-4.26%).
At NSE, nine ouf of the 11 sector gauges were dragged ovwer by the nifty Private Bank Index which dropped 1.8% while Nifty Metal Index gained 1.27%.
The markets seemed to have been overheated in the few weeks ahead of the India Budget and hence what is seen is a healthy correction, some analysts said.