Indian Stock Market Plunges 0.72% as Central Bank Prepares for Monetary Policy Review

Strategic Insights -

The Indian stock market benchmark Sensex suffered a significant drop of 137.94 points or 0.72% on Monday, as investors awaited the central bank's monetary policy review. The index extended its losses in the second half of the session, with banking, consumer durables, oil and gas, and state-owned companies sectors leading the decline. However, the realty, healthcare, technology, and power sectors managed to buck the trend, with some notable gainers including Tata Power and Bharti Airtel.

Key Takeaways:

  • The Sensex index dropped 137.94 points or 0.72% on Monday, reaching a low of 18,954.76 points.
  • The banking sector led the decline, sinking 2.08%, followed by consumer durables, oil and gas, and state-owned companies sectors, which plummeted 1.76%, 1.34%, and 1.15%, respectively.
  • Top losers included State Bank of India, Sterlite Industries, Maruti Suzuki, and Bajaj Auto, which lost 4.06%, 2.26%, 2.16%, and 2.09%, respectively.
  • Notable gainers included Tata Power, CIPLA, DLF, and Bharti Airtel, which closed up 2.43%, 1.96%, 1.66%, and 1.36%, respectively.
  • The turnover with Sensex totaled $135.1 million on Monday, down from $137.7 million in the previous session.

Statistics:

  • Sensex index drop: 137.94 points (0.72%)
  • Daily low: 18,954.76 points
  • Sectors that declined: banking (-2.08%), consumer durables (-1.76%), oil and gas (-1.34%), and state-owned companies (-1.15%)
  • Top losers: State Bank of India (-4.06%), Sterlite Industries (-2.26%), Maruti Suzuki (-2.16%), and Bajaj Auto (-2.09%)
  • Notable gainers: Tata Power (2.43%), CIPLA (1.96%), DLF (1.66%), and Bharti Airtel (1.36%)
  • Turnover with Sensex: $135.1 million (down from $137.7 million in the previous session)

Sources:

  • XINHUA NEWS AGENCY, "Indian Stock Benchmark Sensex Drops 0.72 Percent" (XINHUA via COMTEX, May 02, 2011)