The Nifty Bank, PSU Bank, Financial Services, Realty, Auto and Media indices are now in bear territory. A stock or index is said to be in the bear zone when it falls at least 20 percent from its peak.
The Monday mayhem on Dalal Street sent a number of key indices more than 20 percent lower from their peaks - known in market parlance as the bear zone. At the end of the March 7 session, the Nifty Bank index was down more than 21 percent from its 52-week high of 41,829.6, paring some of the day's losses after moving as much as 22 percent from the milestone during the session.
A stock or index is said to be in the bear zone when it falls at least 20 percent from its peak.
A surge in crude oil prices above $130 a barrel mark amid heightened geopolitical tensions, as investors closely tracked updates on the Russia-Ukraine war, caused a market crash on the Street. Equity benchmarks Sensex and Nifty50 extended losses to the fourth session in a row amid a broad-based sell-off, mirroring weakness across global markets.
The rupee fell to a historic low of 79.96 and bond yields surged as the rise in oil-fuelled concern about domestic inflation, strengthening the prospects for rate hikes by the RBI.
|Index||Mar 7 close||Mar 7 intraday low||52-week high||Close vs 52-week high (%)||Day low vs 52-week high (%)|
|Oil & Gas||7,378.8||7,275.2||8,284.8||-10.9||-12.2|
The Nifty Smallcap 100 index fell 2.4 percent for the day - 20.7 percent from its peak. Last month, the index had entered bear territory briefly after Russia's invasion of Ukraine sent shockwaves across global financial markets.
The Nifty Midcap 100 index visited the bear area briefly during Monday's session. At the end of the day, the gauge was 19.2 percent away from its peak.
Among sectoral indices, realty, private bank, PSU bank, financial services, auto and media are now in the bear zone. The Nifty FMCG index stood at the edge, 19.9 percent from its 52-week peak.
(Edited by : Akanksha Upadhyay)
First Published: IST