Decline in stocks: Sensex down 1069 points, investors erode Rs 3.60 lakh crore

Mumbai, 18 May 2020, Monday

While the Koro epidemic is beginning to take its toll across the country, the business-corporate world is unhappy with the Rs 50 lakh crore stimulus-economic package announced by the Modi government to save the country from the economic crisis caused by the epidemic. The opinion of well-known economists and critics that this package is a sham and that this package is for the country Rthatantrane crisis can not be wiped out, the crisis seemed to be propelled vaccine specific to that country and the global front, Asian stock markets rose overall downward cyclone again today with increased tension between the US-China trade. With the government's decision to postpone new bankruptcy cases for a year and now Hurricane Amphan is intensifying, more catastrophes are brewing in the country as funds are being sold in caution.

Off-loading in banking-finance, automobile, consumer durables, oil-gas, metal-mining stocks, the Sensex fell by 106.5 points to close at 7,004.5 and the Nifty spot fell by 313.60 points to close at 8.5. With this, the capital of investors in stocks eroded by Rs 2.50 lakh crore in a single day today and the asset-market capitalization of investors in stocks of companies listed on the BSE fell to Rs 114 lakh crore.

Foreign funds-investors fear that the Modi government will turn to indigenization in the name of self-reliance and that these provisions are insufficient to keep the economy afloat as the government is keeping the country in the dark by wearing a new Wagah called Self-Reliant India.

With the migration of workers from industrial areas and cities across the country, many industries are likely to collapse without workers and as a result these industries will default on billions of rupees in loan repayments. The decision to halt banks' loan recovery has led to a widening of the stock. Kako was spoken to.

Brent crude jumped ડો 2.10 a barrel to ૬ 2.50 this evening and Nymex-New York crude in anticipation of an industrial-economic recovery as global lockdowns eased in many countries and cut OPEC production. ૨૨ 6 was quoted. At the same time, the US dollar also rose by 3 paise to Rs 2.31 against the rupee, pushing up selling of funds in equities. In banking-finance stocks, the BSE Bankex Index fell by 12.5 points to close at 2016.81.

IndusInd Bank fell by Rs 20.50 to Rs 2.50, Federal Bank fell by Rs 3 to Rs 2.50, RBL Bank fell by Rs 11 to Rs 104.5, Citi Union Bank fell by Rs 10.50 to Rs 19. Axis Bank fell by Rs 2.50 to Rs 21.15, ICICI Bank fell by Rs 2.50 to Rs 200.5, State Bank of India fell by Rs 10.50 to Rs 19.50, HDFC Bank by Rs. Kotak Mahindra Bank fell by Rs 2.50 to Rs 1,150.5.

Among the finance stocks, Mahindra & Mahindra Finance fell by Rs 4.5 to Rs 19.5, Chaula Fin fell by Rs 4.5 to Rs 19, LIC Housing Finance fell by Rs 4.5 to Rs 21 and Equitas fell by Rs 2.50. Rs 8.50, Indiabulls Housing Finance fell by Rs 12.5 to Rs 119.50, Shriram Transport Finance fell by Rs 21.50 to Rs 4.5, HDFC Ltd fell by Rs 121.5 to Rs 1913.5, Bajaj Finance fell by Rs 151.5 to Rs 15, a Rs .701.80 Rs .49.75 BI Life, ICICI Prudential declined by Rs 26 at Rs .358.70. Auto stocks also fell again amid rising crude oil prices and the low probability of vehicle demand growth in the coming days despite a slowdown in the lockdown. TVS Motor fell by Rs 30.50 to close at Rs 206.5.

Oil-gas stocks were also sold with a resurgence in crude oil prices. The BSE Oil-Gas Index was down 2.3 points at 10,412.05. HPCL fell by Rs 19.5 to Rs 19.50, BPCL by Rs 2.50 to Rs 2.10, Gail India by Rs 4.5 to Rs 20.5, IOC by Rs 4.5 to Rs 21 7. Reliance Industries fell by Rs 13.5 to Rs 190.5. In consumer durables stocks, Whirlpool fell by Rs 31.5 to Rs 19.5, Voltas by Rs 20.50 to Rs 21.5, Symphony by Rs 4.5 to Rs 4.5 and Titan by Rs 9 to Rs 215. .50, Crompton fell by Rs. 4.5 to Rs.

The bad market was dominated by IT-software services stocks today. MindTree increased by Rs 4.5 to Rs 2.50, TCS increased by Rs 21.5 to Rs 12.5, Infratel increased by Rs 3.50 to Rs 305.50, Infosys increased by Rs 11.50 to Rs 4. 20 remained. FIIs - Foreign institutional investors, FPIs today (Monday) saw a massive net sale of Rs 213.5 crore in cash.

Of this, a total of Rs 2,160.5 crore was sold against a total purchase of Rs 2.08 crore. On the other hand, DIIs-domestic institutional investors had a net sale of Rs 121.5 crore in cash today. A total of Rs 3.04 crore was sold against a total purchase of Rs 21.5 crore.