Indian stocks ended at a fresh 20-month low Wednesday January 20,2016

 

Indian stocks ended at a fresh 20-month low on Wednesday January 20,2016 dropping to their weakest since 2014 before the election of Prime Minister Narendra Modi, while the rupee slumped to 2013 crisis levels on increasing concerns the country will be hit hard by the growing turmoil in global markets.

The falling stock prices reflect investor worries over slumping crude prices and volatility in China's markets that continue to trigger concerns about the health of the global economy.

The Sensex nosedived 417.8 points or 1.71 per cent to 24,062.04, to its lowest since May 16, 2014, a day when the poll results declared Prime Minister Narendra Modi's National Democratic Alliance victorious in a landslide national election.

The Sensex touched a high of 24,325.77 and a low of 23,839.76. 

All BSE sectoral indices ended significantly in the red. Among them, realty index fell the most by 3.49 per cent, followed by metal 3.08 per cent, PSU 2.66 per cent and power 2.39 per cent

Major Sensex losers were Adani Ports (-5.53%), State Bank of India (-5.13%), Reliance (-3.76%), Coal India (-3.45%) and Maruti (-3.4%), while the only three gainers were Bajaj Auto (+0.43%), Hero MotoCorp (+0.21%) and Wipro (+0.05%). 

Similarly, the Nifty dropped 125.8 points or 1.59 per cent at 7,309.30, its lowest its lowest close since May 30, 2014.