Stock Market Today: Sensex Slumps Over 2,000 Points, Nifty Settles Nearly 3% Lower Amid Global Selloff

• Rupee weakened 9 paise to end a record closing low of 83.84 against the US dollar.

• Rupee weakened to a record low of 83.85 during the day.

• It closed at 83.75 on Friday.

Source: Bloomberg

• The NSE Nifty 50 ended 662.10 points or 2.68% lower at 24,055.60, the lowest level since June 28.

• The BSE Sensex ended 2.74% or 2,222.55 points lower at 78,759.40, the lowest level since June 26.

• All 12 sectors ended in negative note on NSE, with the the NSE Nifty Metal emerging as the worst performing sector.

• Intraday, both the benchmarks logged worst decline since June 4.

• Reliance Indfoustries Ltd., HDFC Bank Ltd. were top losers in the Nifty 50 index.

Indian benchmarks ended at over one-month low on Monday as heavyweights Reliance Industries Ltd., HDFC Bank Ltd. declined. Selloff in global equities as traders unwound their carry-trade bets on the Japanese yen after it rose against the US dollar, pressured the benchmarks.

The NSE Nifty 50 ended 662.10 points or 2.68% lower at 24,055.60, the lowest level since June 28. The BSE Sensex ended 2.74% or 2,222.55 points lower at 78,759.40, the lowest level since June 26.

During the day, the Nifty 50 declined as much as 3.33% to 23,893.70, and the Sensex slumped 3.32% to 78295.86, the lowest levels since June 4.

Today's sell off is more of a short term volatility by way of profit booking, said Tanvi Kanchan, head, UAE Business & Strategy, Anand Rathi Shares and Stock Brokers. There is no indicator of any long term panic mode set in the Indian equities. For investors looking at entering the equity market, a staggered entry during volatile periods can be considered.

The India VIX, the index which gauges volatility in Indian equities, jumped 61.68% to 23.15 on Monday, touching the highest level since June 4. It ended 42.63% higher at 20.43

Reliance Indfoustries Ltd., HDFC Bank Ltd., Infosys Ltd., ICICI Bank Ltd., Larsen & Toubro Ltd. weighed on the benchmark index.

Hindustan Unilever Ltd., Nestle India Ltd., Tata Consumer Products Ltd., and HDFC Life Insurance Co. Ltd.

On NSE, all 12 sectors ended lower with the NSE Nifty Metal led the losses. The NSE Nifty FMCG fell the least.

Broader indices underperformed. BSE Midcap ended 3.60% lower and BSE Smallcap closed 4.21% lower.

All 20 sectoral indices ended lower BSE Metal and BSE Services fell the most.

Market breadth was skewed in the favour of sellers. Around 3,408 stocks fell, 670 rose, and 111 remained unchanged on the BSE.

• Net profit rose 20.4% at Rs 40.5 crore vs Rs 33.7 crore

• Revenue rose 33.5% at Rs 513 crore vs Rs 385 crore

• Ebitda rose 32.3% at Rs 64.2 crore vs Rs 48.5 crore

• Margin fell at 12.5% vs 12.6%

• Revenue up 3% at Rs 960 crore vs Rs 932 crore

• EBITDA up 27% at Rs 153 crore vs Rs 121 crore

• EBITDA margin at 15.9% vs 12.9%

• Net profit up 33% at Rs 137 crore vs Rs 103 crore