Closing Bell | Nifty plunges below 22,000 | Realty, Metals biggest losers

Nifty plunges below 22,000; mid & small-caps melt| Realty, Metals biggest losers| Closing Bell

Nifty slides over 400 points to breach the 22,000 mark.Sensex plummets over 1,000 points. Broader markets hammered out of shape. Nifty Smallcap index down 12% from peak. Both mid & smallcap indices are in the red for the year. Nifty losers: Power Grid, Adani Ports, Coal India, NTPC, Tata Steel, ONGC.Nifty gainers: ITC, ICICI Bank, Cipla, Bajaj Finance, DRL, HDFC Bank. Catch Nandita Khemka and Yatin Mota as they discuss the stocks on their radar

Taking Stock: Market flashes red; Nifty below 22,000; Sensex down 906 points

The biggest Nifty losers included Adani Enterprises, Coal India, Adani Ports, Power Grid Corporation and NTPC, while gainers were ITC, UltraTech Cement, HCL Technologies, Kotak Mahindra Bank and ICICI Bank

The Indian market closed deep in the red on March 17 as broad-based selling and the mid and smallcap meltdown continued for another day, spooking investors.

At close, the 30-pack Sensex was down 906.07 points, or 1.23 percent, at 72,761.89, while the broad-based Nifty ended 338.00 points, or 1.51 percent, lower at 21,997.70.

A moderate CPI data and steady industrial production growth helped Indian benchmarks open on a positive note but they failed to hold on the gains as selling intensified in the second half, pushing the Nifty below 22,000.

The biggest Nifty losers included Adani Enterprises, Coal India, Adani Ports, Power Grid Corporation and NTPC, while gainers were ITC, UltraTech Cement, HCL Technologies, Kotak Mahindra Bank and ICICI Bank.

All sectoral indices, except IT, ended in the red, with realty, media, PSU bank, telecom, power, oil & gas and metals down 4-6 percent.

The broader markets were hit the hardest. BSE midcap and smallcap indices were down 4-5 percent.

Source: Money Control