Thursday 9 December 2021
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HomeEconomySensex plunges 430 points due to heavy selling in bank stocks

Sensex plunges 430 points due to heavy selling in bank stocks

Bank shares felt the heat following reports that ICICI Bank managing director and chief executive Chanda Kochhar and her Axis Bank counterpart Shikha Sharma have been summoned by the SFIO in the PNB fraud matter

Mumbai: The BSE benchmark Sensex saw a sudden plunge in last hour of and nosedived nearly 430 points to close at a nearly three-month low of 33,317 after bank stocks came under heavy selling pressure despite positive global cues.

The NSE Nifty too fell over 109 points to 10,249.25, erasing all its early gains.

Bank shares felt the heat following reports that ICICI Bank managing director and chief executive Chanda Kochhar and her Axis Bank counterpart Shikha Sharma have been summoned by the SFIO in the PNB fraud matter.

Banking stocks led by SBI, ICICI Bank, Bank of Baroda, PNB, Kotak Bank, Bank, Axis Bank, Federal Bank and fell as much as 2.77%.

The sentiment was further dampened after the yesterday said it had imposed a penalty of Rs 3 crore on Axis Bank for violation of NPA classification norms and Rs 2 crore on Indian Overseas Bank for not complying with the KYC regulations.

The 30-share Sensex commenced on a strong note at 34,047.43 and advanced to high of 34,060.13, tracking a firm trend in other Asian markets. It, however, slipped into a negative zone towards the fag-end to hit a low of 33,209.76 as participants booked profits at improved levels. The gauge finally settled 429.58 points, or 1.27%, lower at 33,317.20.

This was the lowest closing for the Sensex since 14 December when it had finished at 33,246.70 and also the biggest single-day fall since 6 February, when it had lost 561.22.

Overall, in the last five straight sessions, the has lost nearly 1,129 points.

The NSE Nifty after reclaiming the key 10,400-mark touched a high of 10,441.35 in early but later slipped into negative zone to hit a low of 10,215.90. It finally settled at 10,249.25, showing a sizeable of 109.60 points, or 1.06%.

Meanwhile, Asian markets turned positive today and Europe too opened higher amid easing of concerns over a potential war triggered by the comments of US President Donald Trump with regard to tariffs on steel and aluminum.

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My best wishes to Hon'ble Congress President Smt. Sonia Gandhi Ji on her birthday. I wish her good health and happiness and a wonderful day with family, friends and well-wishers.

महामारी में पटरी से उतरी देश की अर्थव्यवस्था अब तेजी से सुधर रही है। कोरोना आने के बाद से अब आर्थिक सुधार के 22 उच्च आवृत्ति संकेतकों में से 19 में पूरी तरह सुधार हुआ है और कोरोना से पहले वाली स्थिति की तुलना में इस वर्ष सितंबर-नवंबर में शीर्ष स्तर पर रहे।

The country's first Chief of Defence Staff Late General #BipinRawat, who died in an #IAF helicopter crash, shared a special bond with the Kodagu district of #Karnataka, which is regarded as the land of army generals.

Read: https://bit.ly/31FTfxe

बेन स्टोक्स ने 5 ओवर में फेंकी 14 नो बाल, लेकिन एक ही पकड़ी गई तो अंपायरिंग पर उठे सवाल

#Cricket

https://www.jagran.com/cricket/headlines-ben-stokes-bowls-14-undetected-ni-balls-in-5-overs-as-ricky-ponting-slams-umpires-but-it-was-technical-glitch-22278803.html

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