Bloodbath on D-Street: Sensex tumbles 1,000 points, Nifty by 280

On Tuesday, mayhem in oil markets led to the crashing of Indian benchmark indices as Sensex plunged by 3.20 per cent which is 1,011.29 points to the level of 30,636.71 while, Nifty dipped by 3.03 per cent which is 280.40 points to be at the level of 8,981.45. In Sensex, 27 out of 30 stocks closed in red and only three stocks ended Tuesday market stir in green. Volatility index-India VIX jumped by more than four per cent to 45.34 level. 

Global stocks were sent into a spiral down effect as majority of the world woke up to the news of collapsed WTI crude prices that had nosedived below USD 0 per barrel for the first time in history. As a result of the realisation of the vast gap between oversupplied goods and lower economic demand, the overall global sentiments remained weak. Among the major global indices, oil and gas/energy-related companies were seen bearing the harsh burn of the dip in oil prices. Shanghai index fell by 0.90 per cent while, Hang Seng and Nikkei dropped by 2.20 per cent and 1.97 per cent, respectively. European indices FTSE 100, CAC 40 and DAX also opened lower and were seen trading down by 1.80 per cent, 2.10 per cent and 2.37 per cent, respectively.

The rupee settled lower by 30 paise at 76.83 (provisional) against US dollar.

The only gainers in Sensex were Bharti Airtel closing up by 2.13 per cent, Hero MotoCorp-up by 1.18 per cent and Nestle India which was up by 0.21 per cent.

Sensex draggers consisted of IndusInd Bank which fell by 12.30 per cent, Bajaj Finance closed down by 9.04 per cent, Tata Steel fell by 7.11 per cent, ONGC dropped by 6.48 per cent, L&T fell by 4.96 per cent, Power Grid was down by 2.05 per cent, HDFC closed down by 3.41 per cent, Reliance Industries fell by 0.67 per cent, etc.

Amongst sectoral indices, all other indices closed in red except for Healthcare index which was up by 1.33 per cent. Bankex fell by 5.52 per cent followed by Metal, Auto and Oil & Gas down by 5.29 per cent, 5.01 per cent and 3.54 per cent, respectively. The Small-Cap index shed 2.96 per cent, which is 322.06 points to be at the level of 10,564.85 while Mid-Cap index lost 321.77 points, which is 2.73 per cent to be at the level of 11,477.06.