Bears are in complete control of Dalal Street as market bleeds further. The Indian benchmark indices are down over 2 percent each with Nifty cracking 266 points and is trading at 11,544 level while the Sensex plunged 830 points and is trading at 38,683 level.
Nifty PSU Bank tanked over 5 percent dragged by Punjab National Bank which crashed over 10 percent after it detected an alleged fraud of more than Rs 3,800 crore by Bhushan Power & Steel Ltd (BPSL) and reported it to the Reserve Bank of India (RBI). The other losers include Bank of India, Bank of Baroda, Indian Bank, Union Bank of India, Canara Bank, IDBI Bank, State Bank of India and Syndicate Bank.
Nifty Auto slipped over 3 percent dragged largely by Maruti Suzuki which is down over 5 percent hitting 2-year low. The company informed bourses that it has cut vehicle production for the fifth consecutive month in June.
The auto major said it slashed total vehicle production, including Super Carry LCV, by 15.6 percent last month to 1,11,917 units as compared to 1,32,616 units in the year-ago month.
The other losers include Hero MotoCorp, Eicher Motors, Bajaj Auto, Tata Motors, Motherson Sumi Systems, MRF, Apollo Tyres and TVS Motor Company.
From the oil & gas space, the top losers are BPCL, HPCL, Indian Oil Corporation and ONGC.
The top losers from the real estate space are DLF, Godrej Properties, Prestige Estates, Oberoi Realty, Phoenix Mills, Indiabulls Real Estate and Unitech.
From the BSE midcap space the top losers are Adani Enterprises, Bharat Electronics, Container Corp, Endurance Technologies, HUDCO, Indiabulls Housing Finance, LIC Housing, Max Financial Services, Reliance Power, Shriram Transport and Wockhardt among others.
The top losers from the smallcap space are CG Power, Aksh Optifibre, Ansal Properties, 63 Moons Tech, A2Z Infra, Aban Offshore, Arvind, Ashoka Buildcon, Balaji Telefilm, Ballarpur Industries, Bharat Bijlee, Birlasoft, Bombay Dyeing, Bombay Burmah, Capital Trust, D-Link India, DB Realty, Deepak Fertilizers, Den Networks and HT Media among others.
The top gainers from NSE include YES Bank which jumped 6 percent followed by HCL Tech, Bharti Infratel, TCS and Infosys while the top losers are Bajaj Finserv, Bajaj Finance, ONGC, Indiabulls Housing Finance and IOC.
India VIX jumped 5.74 percent and is trading at 13.82 levels.
The most active stocks are YES Bank, Bajaj Finance, State Bank of India and Maruti Suzuki.
Stocks to hit new 52-week high on NSE include Refex Industries and Vaibhav Global.
On the other hand, 369 stocks have hit 52-week low on BSE including Maruti Suzuki, TVS Motor, KRBL, SMS Pharma, Nahar Spinning, Endurance Technologies, Hero MotoCorp, Eros Media, Phillips Carbon, Escorts, eClerx Services, HCL Infosystems, Castrol India, Sun TV and Glenmark Pharma among others.
311 stocks advanced and 1445 declined while 315 remained unchanged on the NSE. On the BSE, 539 stocks advanced, 1967 declined and 142 remained unchanged.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.