Mapping the market: Forget why we bled, nobody really knows what's next

NEW DELHI: Let's stand up and observe one-minute silence for the Nifty50 and the Sensex, which just lost their beloved levels of 7,000 and 23,000. Thanks.

Thursday's market meltdown was reminiscent of the 1,625-point crash seen in the Sensex on August 24, 2015.

For a detailed account of every small or big move in the market through the day, click here

Regular slumps in global markets and the trend of the domestic market playing catchup has become the new normal. On one such day, Sensex on Thursday logged its 11th biggest points-wise fall (807 points) in its history.

Blame it on Fed comments, a fresh decline in crude oil prices, or a slump in European bank stocks, but the fact is hardly anyone really survived the carnage that saw Rs 3.18 lakh crore worth of investor wealth getting wiped out in a single day.

Analysts were surprised: nobody really knows where this turmoil will take the market to.
So, here's a wrapup of what really caused the pain to domestic stocks in Thursday's session:

13 Nifty50 stocks@ 52-week lows As many as 13 Nifty50 stocks joined the NSE benchmark index to hit their 52-week lows, while 19 others were on the verge of sliding to their one-year low levels on Thursday, when pessimism was at its height on account of weakness seen across equity markets globally. Four stocks -- Wipro, HCL Technologies, Tata Power and L&T -- were just one per cent away from their fresh 52-week lows.
95 of every 100 smallcaps in the red
A total of 722 of 759 BSE smallcap index stocks closed in the negative terrain. 8K Miles cracked 20 per cent, followed by Nahar Spinning Mills (down 19.07 per cent), Arrow Coated Products (down 17.39 per cent), Unitech (down 16.36 per cent) and Dia Power (15.23 per cent). The BSE smallcap index ended 4.64 per cent lower at 9,801.26. On the other hand, SRS Real Infrastructure, Automotive Axles, Orient Refractories and Ashiana Housing remained some of the smallcaps that gained between 1.53 per cent and 7.30 per cent for the day.


One of every six BSE stocks hit lower circuits
A total of 500 BSE-listed stocks hit their lower circuits on Thursday. Birla Cotsyn and WS Industries were among the stocks that hit their 20 per cent lower circuits. Jindal Cotex, Tara Jewels, Surana Industries and Mukta Arts were the other stocks that hit their lower circuit limits of 10 per cent.

Dr Reddy's ends higher as board considers share buyback
Shares of Dr Reddy's Laboratories climbed over 3 per cent in Thursday's trade after the drugmaker said its board members would consider a proposal to buy back company's shares next week. The stock somehow managed to close 0.15 per cent up at Rs 2,887. In a filing to BSE, the company said, "A meeting of the board of directors of the company will be held on February 17, inter alia, to consider the buyback of equity."



Alstom T&D India drops 7% as company swings to losses
Shares of Alstom T&D India slipped 6.62 per cent to close at Rs 394.95 after the company swung into losses in the December quarter after posting net losses of Rs 18.21 crore against a net profit of Rs 25.8 crore in the same period a year ago.