BSE Sensex crash as much as 1,495 points to 35,993.64 from day’s high of 37,489.24. DHFL stocks slumped over 50%. The Indian rupee has also trimmed its early gains to trade around the 72 mark.
BSE Sensex and NSE’s Nifty 50 erased all morning gains and plunged over 2% dragged by finance stocks after reports of DHFL defaulting on commerce papers.
The S&P BSE Sensex rose as much as 0.9 percent or 341 points to 38,059 and the NSE Nifty 50 Index climbed 1 percent or 115 points to 11,485.
In general, strong domestic fund inflows are keeping sentiment upbeat and complacency high. “At a broader level, there has been a high level of volatility in India. However, there has been a truncated rally in a few stocks in the Nifty index, which is keeping the index up,” said Dhananjay Sinha, head of research, economist and strategist, Emkay Global Financial Services.
Nifty Future Tips : Above ₹ 11622 only Buy Target 11676— 11705
Technical Power of CFA’s
(CHARTRED FINANCE ANALYST)
Gold Silver Reports (GSR) – Eleven out of 19 sector gauges compiled by BSE were trading lower led by the S&P BSE Finance index’s 0.4 percent drop. On the other hand, the S&P BSE Realty index was top gainer, up 0.7 percent.
Indian equity benchmarks edged lower dragged by weakness in ICICI Bank, HDFC twins and Infosys.
Gold Silver Reports (GSR) – The S&P BSE Sensex rose 0.2 percent or 76 points to 36,570 and the NSE Nifty 50 index advanced 0.2 percent or 28 points to 11,038.
Indian equity benchmarks edged higher, but gains were capped as the country’s largest private sector lender – HDFC Bank fell after it missed profit estimates in June quarter.
Gold Silver Reports (GSR) – Indian benchmark indices BSE Sensex and NSE’s Nifty 50 gained on Friday as the Parliament will debate the no-confidence motion tabled by opposition parties against the Narendra Modi government.