Here's the simplest explanation to what's been happening at the Markets today

Indian stocks are under heavy selling pressure, led by the Bank Nifty, as traders remain net buyers on fears of a deepening currency wars between nations after China devalued its currency, the Yuan, by 2 percent in a bid to boost its economy. The yuan continued to trade weaker the second day in a row. Here is snapshot of the market with special emphasis on the futures and options market.

MAJOR INDICES:

Bank Nifty dropped 2.6% to 18,142 points. Nifty fell 1.1 percent to 8,364 points. Sensex lost % to 27,578 points. CNX Energy dropped 1.9% to 8,313 points. CNX finance lost 2.4% to 7,418 points. CNX Metal plunged 4.5% to 1,943 points. CNX PSU Bank dropped 3.2% to 3,332 points.

while CNX IT index rose 2.5% to 12,003 points. and CNX Pharma index added 1.1% to 12,770 points.

TOP GAINERS Sun Pharma Infosys Ashok Leyland

TOP LOSERS Kaveri Seeds Vedanta HDIL

TOP OI GAINERS Hindalco PFC Voltas

TOP OI LOSERS Godrej industries Canara Bank Indiabulls Real Estate

TOP TRADED State Bank of India Sun Pharma Tata Steel

ADVANCE DECLINE RATIOS: SENSEX: 8/22 NIFTY: 11/39 BROADER MARKET: 672/2,080 FUTURES & OPTIONS: 19/141

Image credit: Indiatimes