Market crashes on global rout; Realty, Metal, Auto plunge

Indian equities crashed with Sensex and Nifty plunging over 2% on global rout. Realty, metal, auto stocks fell the most. Weak opening of European market also added fuel to the sentiment. At 12.51 p.m., the Sensex was trading down 459.12 points or 2.69% at 16,606.03 with 30 components falling. Meanwhile, the Nifty was trading lower by 133.40 points or 2.60% at 4,999.85 with 51 components falling.

The 30-share benchmark index, BSE Sensex opened with a decline of 237.30 points or 1.39% at 16,827.85, while the broad based NSE Nifty started with a fall of 78.80 points or 1.54%, at 5,054.45.

Meanwhile, India`s food inflation eased to 8.84% for week ended September 10 against 9.47% a week ago. Fuel price index climbed to 13.96% as compared to 13.01%. The primary articles index was at 12.17% compared to 13.04% a week earlier.

European markets opened with a sharp gap down following Fed`s decision. France`s CAC, Germany`s DAX and Britain`s FTSE were down 3-3.5%. US Federal Reserve kept rates unchanged at 0.0-0.25% and discount rate at 0.75%.

Sensex Movers

Reliance Industries contributed fall of 64.77 points in the Sensex. It was followed by I C I C I Bank (35.52 points), Larsen & Toubro (35.23 points), Housing Development Finance Corporation (23.9 points) and Bharti Airtel (23.82 points).

All shares in the Sensex are trading in red zone.Sterlite Industries (India) (5.63%), Jaiprakash Associates (5.21%), Jindal Steel & Power (5.16%), Tata Motors (4.71%), D L F (4.15%), and Bharti Airtel (3.90%) were the biggest losers in the Sensex.

Mid & Small-cap Space

The BSE Mid and small caps outperformed their larger counterparts declining-2.06% and -2.02% respectively.

The major losers in the BSE Midcap were A2Z Maintenance & Engineering Services (3.93%), Aban Offshore (2.89%), Alstom Projects India (2.84%), A B G Shipyard (0.98%) and A I A Engineering (0.69%).

The major losers in the BSE Smallcap were Trident (8.78%), A B G Infralogistics (3.96%), INEOS ABS (India) (2.76%), Aanjaneya Lifecare (1.58%) and Aarti Industries (1.56%).

Sectors in Limelight

The Realty index was at 1,768.67, down by 69.04 points or by 3.76%. The major losers were D B Realty (4.76%), IndiabullsReal Estate (4.74%), D L F (4.15%), Anant Raj Industries (3.56%) and Godrej Properties (2.35%).

The Metal index was at 11,865.92, down by 451.73 points or by 3.67%. The major losers were Jindal Steel & Power (5.16%), Hindalco Industries (3.42%), Hindustan Zinc (2.76%), Bhushan Steel (2.5%) and Coal India (2.39%).

The Auto index was at 8,629.13, down by 270.19 points or by 3.04%. The major losers were Bharat Forge (4.09%), Apollo Tyres (3.15%), Bajaj Auto (2.89%), Exide Industries (2.08%) and Ashok Leyland (1.13%).

The Capital Goods index was at 11,488.19, down by 338.3 points or by 2.86%. The major losers were BEML (3.19%), Alstom Projects India (2.84%), BGR Energy Systems (1.87%), A B B (1.58%) and Bharat Electronics (0.57%).

Market Breadth

Market breadth was negative with 616 advances against 2,011 declines.

Value and Volume Toppers

India Securities topped the value chart on the BSE with a turnover of Rs. 2,656.10 million. It was followed by State Bank Of India (Rs. 721.21 million), Tree House Education and Accessories (Rs. 541.26 million) and Larsen & Toubro (Rs. 438.14 million).

The volume chart was led by India Securities with trades of over 47.60 million shares. It was followed by K S Oils (8.73 million), Tree House Education and Accessories (3.03 million) and Cals Refineries (2.56 million).