Home Retail Retail stocks nosedive as hide & seek continues at Dalal Street

    Retail stocks nosedive as hide & seek continues at Dalal Street


    After two consecutive days of green and cheers, the bears are back with a bang on Dalal Street. While the BSE Sensitive Index or shed 674.28 points, the fifty share index Nifty shut shop at 3,338.40, down 180 points.

    The Indian market was today the worst performing among its global peers. It saw relentless selling and ended at a low point. Sensex closed at 10809, down 5.87 points and Nifty at 3,338, below 5.4 per cent from the previous close. CNX Midcap index was down 4.52 per cent and BSE Smallcap index was down 4.8 per cent. All sectoral indices closed in the negative. BSE CG index was down 9 per cent, BSE Metal index was down 8 per cent while BSE Realty and BSE IT index were both down 5 per cent. The market breadth was negative with advances at 164 against declines of 1109 on the NSE.

    However, the government is also meeting today on the liquidity crisis. Analysts believe it may bring some policy announcements that could lead to a pullback rally. Further reports suggest that RBI could also announce an SLR and CRR cut.

    Retail stocks at Sensex today

    Amid the ongoing bloodbath in market indices, today was a mixed day for retail stocks. While Koutons Retail closed in the green at Rs 634.30, lost 22.75 or 9.98 per cent to close at Rs 205.10. Indiabulls Retail too tanked 4.87 per cent to close at Rs 30.30. However, managed to avoid heavy injuries and shed a mere Rs 0.25 or 0.18 per cent to wrap up at Rs 136.

    In the entertainment segment, Films shed Rs 15.05 or 6.17 per cent to end the day at 229. too was on the back-foot with an erosion of Rs 8.90 or 7.61 per cent to close at Rs 108.

    Provogue, which was also among the top losers at Sensex today, dipped 17.12 per cent to close at Rs 99.45. and Raymonds also lost over 3 per cent to close at 232.20 and Rs 97.25 respectively.

    also slipped 8.19 per cent to shut shop at Rs 707.25. Gitanjali Gems also traded in the red with a loss of 5.40 per cent at Rs 120.

    In the footware section, while Liberty Shoes was down 5.51 per cent at Rs 42.90, and Relaxo Footwears were below 9.04 and 13.16 per cent to end the day at Rs 97.55 and Rs 33 respectively.