 "One out of five stocks in BSE-500 at 52-week lows")
The turmoil in the markets cost investors dearly, with total market capitalisation (m-cap) diving by nearly Rs 7-lakh crore in a single trading session.
The S&P BSE Sensex tanked 1,624 points or 5.9% to 25,742, also its lowest level since August 11, 2014, after the Wall Street crashed on the Friday owing to concerns over economic slowdown in China, the world’s second largest economy.
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ICICI Bank, Tata Motors, Oil and Natural Gas Corporation (ONGC), Tata Steel, Hindalco Industries, Gail (India), NTPC and Vedanta are eight stocks from the 30-share Sensex to touch their respective 52-week lows.
Allahabad Bank, Bank of India, Corporation Bank, Dena Bank, IDBI Bank, Indian Bank, Jammu & Kashmir Bank, Bank of Maharashtra, Oriental Bank of Commerce, Punjab & Sindh Bank, South Indian Bank, Syndicate Bank, Uco Bank, United Bank of India and Vijaya Bank from banking sector hit their respective 52-week low.
The Anil Dhirubhai Ambani Group companies, including Reliance Communications, Reliance Infrastructure, Reliance Capital and Reliance Power, touched their 52-week lows.
Among the sectors, the BSE Metal, Oil & Gas, Power and Realty index have touched 52-week lows today. "Bloodbath at the D- street due to the turbulence in the global markets. Huge sell-off across the globe led by Chinese meltdown and geo-political tension between South Korea and North Korea raised the concerns of investors and witnessed panic selling pressure. Continued weakening of rupee and hitting a new low also weighed on the sentiment," said Gaurav Jain, Director, Hem Securities.
The total investor wealth, measured in terms of market capitalisation of all the listed companies together, dipped to about Rs 95.33-lakh crore today as against a close to Rs 102.32-lakh crore on August 21.