Sensex crashes 807 points as slowdown fears haunt markets again Thursday February 11,2016

807 points fall takes Sensex to pre Narendra Modi level Thursday February 11,2016

There was a rout in the domestic stock markets today Thursday Feb 11,2016 with major indices falling over three per cent in a single session.

Continuing concerns of a global slowdown, crude oil close to 12-year lows and locally, banks reporting rising bad debts, higher provisioning and dramatic falls in quarterly profit, led to the mayhem.

The Sensex lost 807 points to end at 22,951.83, while the Nifty finished at 6,996, down 239 points, breaking the crucial 7,000 psychological barrier. 

The Bank Nifty lost a massive 3.84 per cent, closing at 14,028.55. Financial services, auto, commodities and energy stocks closed down 3 %

Among BSE sectoral indices, realty index plunged the most by 5.94 %, followed by infrastructure 5.4 %, power 4.81 per cent and PSU 3.9 %. 

Major Sensex losers were Adani Ports (-6.94%), BHEL (-6.01%), Tata Motors (-5.55%), ONGC (-5.23%) and M&M (-4.93%), while the only two gainers were Cipla (+0.4%) and Dr Reddy's (+0.01%). 

Globally, record crude inventories in the US sent Brent crude futures down to $30.53 a barrel, while WTI touched $26.76, close to their lowest levels since 2003. 

The US Federal Reserve is caught in limbo, unable to raise interest rates as it had initially planned but also unwilling to back on the tighter monetary policy path it had chosen. 

Back home, banks saw their stocks reeling from the RBI’s forced clean-up of balance sheets. 

State Bank of India reported a 62 per cent fall in profit and gross NPAs up 28 %.The stock lost close to three % to close at Rs. 154.20. Indian Bank lost 5.70 % to close at Rs. 80.30. 

The BSE Midcap index lost 3.27 % to close at 9,690.90, while the Smallcap index closed down 4.64 % at 9,801.26.