Indian Markets crashed on Monday due to intense selling pressure - Microsec

Indian markets crashed on Monday on the back of intense selling pressure seen in FMCG, capital goods, technology and metal stocks. Trade deficit has widened in April, which raised concern over current account deficit. However, fall in April CPI inflation failed to boost market.

Nifty closed at 5980.45 down by 126.80 points or 2.08% over the previous day closing of 6107.25 after witnessing a low of 5972.90 and a high of 6104.95. Sensex closed at 19691.67 down by 430.65points or 2.14% over the previous day closing of 20122.32. It touched an intraday low of 19667.39 and high of 20109.08.

The markets' breadth was negative. Out of 2456 stocks traded 808 stocks advanced, 1542 stocks declined and 106 stocks remained unchanged. In Sensex, Out of 30 stocks 00 stocks advanced and 30 stocks declined.

Among the sectors, BSE FMCG ,BSE Capital Goods & BSE Metal were the main losers of the day which decreased by 3.17%, 2.61 % and 2.54% respectively. In BSE FMCG sector, ITC, Nestle India, and Tata Global decreased by 5.31%,1.13% and 1.02% respectively.

In BSE Capital goods sector Praj Inds, Siemens, and Sadbhav Engrr. declined by 6.21%,3.96% and 3.61% respectively. In BSE Metal sector Tata Steel, Hndustan zinc and Sesa Goa decreased by 4.22% 4.04 % and 3.16% respectively.

Source : Equity Bulls

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