Sensex Plunges to 793 Points

Presented By:
Group-8
Vivek Digwani(k06099)
Shipra Nigam(k06079)
Smriti Varma(k06085)

CBE Date: 13-07-2019

Topics Covered
• Reasons
• Effects of falldown
• Auto stock hammered
• Mindtree sees worst session

2
Reasons
• US jobs data came stronger than expected thus dampening of hopes for aggressive
rate cuts by US Fed.
• No stimulus package to kickstart the economy.
• Surcharge on high income earners.
• Another PNB borrowing fraud comes up.
• Minimum public shareholding limit may be revised as proposed in budget 2019.

3
Effects
• Domestic equity benchmark BSE Sensex plummeted 793 points Monday to extend
losses for a second straight session, dragged by losses in index major HDFC Bank,
L&T and Bajaj Finance, amid Union Budget overhang and heavy selloff in global
equities.
• In the Sensex pack, the major losers were Bajaj Finance, ONGC, Hero MotoCorp,
Maruti and NTPC. Yes Bank, HCL Tech and TCS, however, bucked the
downtrend by rising up to 5.56 per cent.

4
Contd.
• Sectorally, Capital goods, realty, power and industrials ended lower by over 3 per
cent
• In the broader index, the top losers were Bajaj Finserv, Bajaj Finance, ONGC,
IBUL Housing Finance and Hero MotoCorp while the gainers were Yes Bank,
HCL Technologies, JSW Steel, Infratel and TCS.
• Shanghai Composite Index ended 2.58 per cent lower, Hang Seng plunged 1.54
per cent, Nikkei 0.98 per cent and Kospi tumbled 2.20 per cent. Equities in Europe
were also trading lower in their respective early sessions.
• On the currency front, the Indian rupee depreciated 30 paise to 68.72 against the
US dollar. Meanwhile, the global oil benchmark Brent crude futures were trading
0.12 per cent higher at 64.31 per barrel.
5
Auto stock hammered
• Automaker Maruti Suzuki India Ltd tumbles 5.89 per cent, its lowest since March
31, 2017. About 1.5 million Maruti shares changed hands compared with the 30-
day average of around 748,800 shares. The auto index is down as much as 3.51
per cent, its lowest in over three years.

6
Mindtree sees worst session
• Shares of IT services firm Mindtree Ltd were down as much as 6.8 per cent,
marking their biggest intraday per cent loss since October 2018. The stocks of
Mindtree were trading 10.61 per cent lower at Rs 722.35
• The company’s top management on Friday, including CEO Rostow Ravanan, have
submitted their resignations to the board, days after conglomerate Larsen &
Toubro Ltd (L&T) took a controlling stake.

7
.

THANK YOU