Market crash: BSE Sensex plunges 426 points, Hindustan Unilever shares gain on positive Q3 numbers

Written by | January 27, 2014 | 0

The BSE barometer Sensex ended 2.02% lower on Monday as concerns over China’s growth and the possibility of a more aggressive tapering stance by the US Fed impacted sentiment. The 2% fall in US stocks on Friday also spooked investors.

The 30-share BSE sensex declined 426.11 points, to 20,707.45 points, while the National Stock Exchange’s (NSE’s) broader 50-share Nifty fell 2.09%, or 130.90 points, to 6,135.85 points. All 13 BSE sectoral indices were trading in the red. Interest rate sensitive sectors declined the most ahead of the RBI policy, with the BSE Realty and BSE Bankex declining by 6.827% and 3.97%, respectively.

Tata Motors (6.13%), Tata Steel (6.03%), ICICI Bank (4.53%) and Tata Power (4.16%) were the top losers of the day. Auto maker Tata Motors said its managing director Karl Slym died in a fall from the Shangri-La hotel in Bangkok. Meanwhile, shares of Hindustan Unilever gained 1.71% amid positive Q3 numbers. The consumer goods player reported a 22% y-o-y jump in its net profit to Rs 1,062.3 crore. Key Asian indices were also down on Monday. Nikkei 225, Hang Seng and Jakarta Composite were all down more than 2% each. FIIs have net bought about $481 million worth of Indian shares in January but experts suggest the pace of buying is slowing down. Industry watchers believe that fears of a more aggressive cut in quantitative easing loom, which might impact FII flows to emerging markets such as On Friday, the Dow Jones Industrial Average had ended down 1.96%, while the S&P 500 and Nasdaq Composite had shed 2.09% and 2.15%, respectively.

Filed in: Business

No comments yet.

Leave a Reply