Almost every index like auto, small caps, midcap, large caps and banking stocks are seeing their worst nightmares. Interestingly, there is one index, which has only government stocks is facing less hatred from investors.
The benchmark Sensex continues to remain on hotbed, as investors remove their money in a most brutal manner. The index has tumbled by more than 600 points by touching intraday low of 36,239.57. There is almost nothing positive happening when it comes to trading on Sensex, as last week it gave away 1900 points, and experts like Goldman Sachs has already downgraded the outlook for Indian markets. This simply means, no reaping of profit in near term on Sensex. Almost every index like auto, small caps, midcap, large caps and banking stocks are seeing their worst nightmares. Interestingly, there is one index which has only government stocks that is facing less hatred from investors, which means it has managed to see fewer losses compared to every other indices on Sensex.
It is S&P BSE Bharat 22 Index which is least hit on Sensex today. The index is trading at 3,539.97 down by 19.17 points or 0.54% at around 1316 hours. However, in early opening it has touched an intraday low of 3,521.69.
Among gainers on this index were – ONGC taking lead by trading at Rs 183.75 per piece up by 2.03%, followed by Coal India at Rs 281 per piece up 1.94%, NTPC at Rs 169.85 per piece up 1.49%, Engineers India at Rs 123.45 per piece up 0.94% and National Aluminum at Rs 66.05 per piece up 0.53%.
There were losers on the index and it involved REC Ltd at Rs 101.85 per piece down 4.59%, Indian Bank at Rs 262.15 per piece down 3.89%, NBCC at Rs 67.50 per piece down 2.86%, Bank of Baroda at Rs 108.50 per piece down 2.82% and PFC at Rs 78.75 per piece down 2.23%.
Bharat 22 is a part of government’s disinvestment program announced by the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance.