Mumbai: The Sensex and Nifty fell sharply in early morning trade on Monday as prospects of aggressive rate hikes by the US Federal Reserve hit investors’ appetite for risky assets, while stocks of Future Group firms tumbled after Reliance Industries called off a deal to buy its assets.
Several stocks gained in excess of 15% in Mumbai trading on Monday even as equity benchmarks, BSE Sensex and NSE Nifty, traded in the red amid brisk selling in frontline bluechip counters.
BNK Cap Market(up 19.99%), Rita Finance and Leasing Ltd.(up 19.97%), Poona Dal Oil(up 19.96%), Elegant Marbles(up 18.56%), Kriti Nutrients(up 16.43%) and Golden Tobacco(up 15.49%) were among the stocks that surged over 15%. The 30-share index, BSE was trading 561.97 points down at 56635.18, while the 50-share index, NSE was 190.0 points down at 16981.95.
In the Nifty50 index, seven stocks traded in the green, while 43 stocks were in the red.
Stocks in Sri Lanka plunged and were set for another day of a trading halt as the market opened for the first time in two weeks, during which the economic crisis deepened.
Sri Lanka Stock Market Colombo All-Share Index fell as much as 6.7% while the blue-chip index slumped 5.2% within seconds of resumption of trading. If the blue-chip index drops 7.5%, it will prompt a second circuit to be triggered.
(Smit Soni)
