Closing Bell: Bloodbath witnessed on the bourses as recession fear grips the global markets

The global markets plunged 3 per cent as the fears of an impending recession were confirmed by the inflation data, released by the US for the month of April

The global markets plunged 3 per cent as the fears of an impending recession were confirmed by the inflation data, released by the US for the month of April. Following this, the headline equity indices, Sensex and Nifty witnessed a bloodbath on the bourses on Thursday.  

The Asian markets fell as the technology stocks saw a tremendous sell-off.  

At the time of market closing, BSE Sensex was at 52,930.31, down by 1158.08 points or 2.14 per cent. BSE Midcap index also ended at 21.645.13, down by 495.85 points or 2.24 per cent. BSE Smallcap index closed at 24,995.51 levels, lower by 1.96 per cent.  

The Top Gainers on BSE Sensex today were Wipro and HCL Technologies. On the other hand, the stocks of IndusInd Bank, Tata Steel, Bajaj Finance, Bajaj Finserv, and Axis Bank turned out to be the Top Losers.   

On the other hand, Nifty 50 fell by 359.10 points or 2.22 per cent and closed at the 15,808 level. Likewise, Nifty Midcap 100 and Nifty Smallcap 100 were also down by 2.33 per cent & 1.87 per cent, respectively. On the other hand, Bank Nifty was down by 3.35 per cent and was at the 33,532.15 level.

The top gainers on Nifty 50 were Eicher Motors, HCL Technologies, Wipro, TCS, and Dr Reddy’s Laboratories. The stocks losing the most were Adani Ports, IndusInd Bank, Tata Motors, Tata Steel, and Hindalco Industries.  

The total stocks traded on BSE today were 3,447, out of which, 747 advanced while 2,614 stocks declined. There were 86 stocks that were unchanged. The number of stocks that were locked in the upper circuit was 10 while only one stock closed in the lower circuit today. Around 50 stocks touched a fresh 52-week high while 330 stocks hit a new 52-week low today. 

All of the sectors ended in the red, where BSE Telecom, BSE Utilities, BSE Auto, BSE Metal were down in the range of 2 per cent to 4 per cent.