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Sensex, Nifty nosedived around 5% each as crude oil surpassed the $100-mark. Sensex settled near the day's low level at 54,530, down 2,702 points.
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How Bulk Deals Are Different From Block Deals. Why Companies Do Bulk or Block Deals
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In opening trade, Sensex nosedives 2,045 points or 3.57% to 55,186. Nifty 50 was quoting below the 16,500 mark at 16,453 plunging 610 points.
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There are often bulk and block deals of shares. This can give an idea of the direction of the shares. You get this data on the exchanges.
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At close, Sensex slipped 501 points from day’s high to settle at 57,232. Bajaj Finserv, Nestle India, ICICI Bank, HDFC Bank, RIL were laggards.
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Kotak Mahindra Bank, Titan, Asian Paints, IndusInd Bank and M&M were the top gainers. L&T, HUL and Nestle India were the only losers in opening trade.
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At close Sensex ended with a loss of 382 points at 57,300. Tata Steel, TCS, SBI, Dr Reddy’s & ITC were the top losers.
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The condition of all startup stocks like Zomato, Nykaa, Paytm, Policybazaar are all similar now. Investor wealth has plummeted in these stocks.
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In opening trade Sensex nosedived 1,108 points or 1.92% cracking the 57,000-mark to 56,574. All 30 constituents of Sensex were trading in the red.
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Nifty 50 settled just above 17,200-mark slipping 69 points. Hindalco, UPL, Sun Pharma, Adani Ports, Divis Labs, and TCS were the top drags.