Bloodbath on D-Street pulls down BSE SME by 1.49%; Sensex down by over 6%
Updated: Aug 24, 2015 04:47:26pm
Mumbai, Aug 24 (KNN) The bloodbath in the Dalal Street has impacted the SME exchange of BSE as well, as the bourse closed down 1.49 per cent, marking one of its biggest falls in the past few months.
The BSE Sensex slumped over 1,700 points or over 6 per cent on Monday - marking its third biggest crash in history in terms of absolute value, whereas the 50-share Nifty traded below 7,800 levels. All 50 shares in the Nifty traded in the red, while on the broader BSE 500 index, just four stocks traded higher.
The rupee also weakened from 64 per dollar to 66.71, a fall of over 4 per cent since August 11 when China announced the devaluation of its yuan currency.
Reserve Bank of India Governor Raghuram Rajan on Monday said that India is better off than other emerging market countries. The macro-economic problems are under control, low inflation will give investors trust in markets, he added.
Rajan said the central bank will not hesitate to use reserves to reduce the volatility in currency.
Union Finance Minister Arun Jaitley said China's devaluation is creating ripples and has had a "transient impact" on India. India's inflation and fiscal deficit are under control, Mr Jaitley said, promising that "markets will settle down; the government and RBI are watching the situation closely."
The mayhem in the market continued throughout the day. During the closing bell, there were 24 losers and just 6 gainers in the BSE SME trading today. Meanwhile, seven firms traded flat.
The market cap was at Rs 7,640.83 crore, which was Rs s 7,744.26 crore in the morning.
For BSE, this is the biggest crash in seven-and-a-half years and the third biggest-ever for the BSE benchmark index.
The devaluation in the yuan has impacted most emerging market currencies. South Africa's rand struggled at 14-year lows, the Turkish lira languished near a record low, while the Malaysian ringgit hit a 17-year low.
Chinese stocks plunged more than 8 per cent on Monday, posting their biggest one-day loss since the height of the global financial crisis in 2007. (KNN Bureau)
The BSE Sensex slumped over 1,700 points or over 6 per cent on Monday - marking its third biggest crash in history in terms of absolute value, whereas the 50-share Nifty traded below 7,800 levels. All 50 shares in the Nifty traded in the red, while on the broader BSE 500 index, just four stocks traded higher.
The rupee also weakened from 64 per dollar to 66.71, a fall of over 4 per cent since August 11 when China announced the devaluation of its yuan currency.
Reserve Bank of India Governor Raghuram Rajan on Monday said that India is better off than other emerging market countries. The macro-economic problems are under control, low inflation will give investors trust in markets, he added.
Rajan said the central bank will not hesitate to use reserves to reduce the volatility in currency.
Union Finance Minister Arun Jaitley said China's devaluation is creating ripples and has had a "transient impact" on India. India's inflation and fiscal deficit are under control, Mr Jaitley said, promising that "markets will settle down; the government and RBI are watching the situation closely."
The mayhem in the market continued throughout the day. During the closing bell, there were 24 losers and just 6 gainers in the BSE SME trading today. Meanwhile, seven firms traded flat.
The market cap was at Rs 7,640.83 crore, which was Rs s 7,744.26 crore in the morning.
For BSE, this is the biggest crash in seven-and-a-half years and the third biggest-ever for the BSE benchmark index.
The devaluation in the yuan has impacted most emerging market currencies. South Africa's rand struggled at 14-year lows, the Turkish lira languished near a record low, while the Malaysian ringgit hit a 17-year low.
Chinese stocks plunged more than 8 per cent on Monday, posting their biggest one-day loss since the height of the global financial crisis in 2007. (KNN Bureau)
Loading...
