Sensex today took a plunge and is down more than 700 points, trading around 73500 levels at the moment.
All major stocks like HDFC Bank, Reliance are trading in the red, while Vodafone Idea is holding Rs 13 levels on the back of the mega Rs 18000 crore follow on offer.
Retail favorites Bandhan bank, Zee entertainment are still trading at their 52 week lows at around Rs 180 and 140 levels respectively.
HDFC bank is still hovering around Rs 1500 levels, giving next to no return in the last 3 years. The rise in deposit costs, reducing NIMs and some liquidity concerns have spooked the traders, and the stock is getting hammered at every rising opportunity.
This will be an interesting week to watch out for with Iran- Israel tension expected to push crude, gold higher and weighing down on the equities.