Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.


Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence


Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
1-min read

Sensex Tanks 306 Points; HDFC Twins Sink

HDFC and HDFC Bank were the biggest losers in the Sensex pack, plunging 5.09 per cent and 3.32 per cent, respectively, after the private bank reported a rise in non-performing assets (NPAs).


Updated:July 22, 2019, 4:13 PM IST
Sensex Tanks 306 Points; HDFC Twins Sink
Representational Image.

Mumbai: Extending losses for the third consecutive session, market benchmark BSE Sensex tumbled 306 points at close on Monday led by a carnage in shares of HDFC twins amid weak global cues.

Unabated foreign fund outflows and a depreciating rupee too weighed on investor sentiment here, traders said.

The 30-share index cracked 305.88 points or 0.80 per cent to settle at 38,031.13. It hit an intra-day low of 37,890.32 and a high of 38,333.52.

The broader NSE Nifty sank 82.10 points or 0.72 per cent to close at 11,337.15. During the day, the index hit a low of 11,301.25 and a high of 11,398.15.

HDFC and HDFC Bank were the biggest losers in the Sensex pack, plunging 5.09 per cent and 3.32 per cent, respectively, after the private bank reported a rise in non-performing assets (NPAs).

During the quarter, gross NPAs rose to Rs 11,768.95 crore which is 1.40 per cent of the total advances, compared with Rs 9,538.62 crore which was 1.33 per cent in the same quarter 2018-19 fiscal.

Other losers included Kotak Bank, HUL, Bajaj Finance, ITC, SBI, M&M and PowerGrid, falling up to 3.08 per cent.

Yes Bank was the top gainer, surging 9.49 per cent; followed by Vedanta, RIL, Asian Paints, Maruti and Sun Pharma, ending up to 3.85 per cent higher.

According to experts, the selloff by foreign funds was due to the government's reluctance to tweak foreign portfolio investors (FPIs) income tax surcharge.

Deficient monsoon rains and weak corporate earnings have also impacted the risk sentiment, they said.

On a net basis, foreign institutional investors sold equities worth Rs 950.15 crore, while domestic institutional investors purchased shares to the tune of Rs 733.92 crore, provisional data available with stock exchanges showed Friday.

Negative cues from other Asian markets too dampened the sentiment here, traders said.

Elsewhere in Asia, Shanghai Composite Index, Hang Seng, Kospi and Nikkei ended significantly lower.

On the currency front, the Indian rupee depreciated 17 paise to 68.97 against the US dollar (intra-day).

Meanwhile, the global oil benchmark Brent crude futures soared 2.15 per cent to USD 63.82 per barrel after Iran's Revolutionary Guards Friday confiscated a British tanker in the strategic Strait of Hormuz for breaking "international maritime rules".

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

Read full article
Next Story
Next Story

Also Watch

Most Active
Company Price Change %Gain
Indiabulls Hsg 550.75 -0.11
HDFC 2,100.00 -0.84
Reliance 1,278.00 -0.80
Yes Bank 79.45 3.79
HDFC Bank 2,227.70 -0.08
Company Price Change %Gain
SBI 290.95 0.38
Indiabulls Hsg 551.10 -0.04
Yes Bank 79.45 3.79
Maruti Suzuki 5,975.15 2.74
SpiceJet 143.50 3.02
Top Gainers
Company Price Change %Gain
UPL 549.05 4.14
Yes Bank 79.45 3.79
Power Grid Corp 211.15 2.92
Maruti Suzuki 5,975.05 2.73
IndusInd Bank 1,439.10 2.73
Company Price Change %Gain
Yes Bank 79.45 3.79
Power Grid Corp 211.25 2.85
Maruti Suzuki 5,975.15 2.74
IndusInd Bank 1,438.25 2.70
Axis Bank 675.55 1.86
Top Losers
Company Price Change %Gain
TCS 2,165.10 -1.78
Vedanta 144.40 -1.47
HCL Tech 1,062.75 -1.25
BPCL 351.20 -0.92
HDFC 2,100.00 -0.84
Company Price Change %Gain
TCS 2,163.50 -1.87
Vedanta 144.30 -1.54
HCL Tech 1,061.65 -1.37
HDFC 2,098.75 -0.91
Reliance 1,277.40 -0.85

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results