MARKET WRAP: Stocks roiled on coronavirus fears, Sensex plunges 807 pts

All that happened in markets today

4:04 PM

MARKET COMMENT | Vinod Nair, Head of Research, Geojit Financial Services

Demand for safe-haven assets spiked as fresh coronavirus cases in South Korea and Italy indicated that business impact could be higher than thought earlier. The Trump-Modi meet is not providing clues to the market regarding trade deal but market is hoping for some hint in the future. 

3:43 PM

SECTOR WATCH | Sectoral performance on the NSE

3:42 PM

MARKET AT CLOSE | All 30 constituents of S&P BSE Sensex end in the red

3:38 PM

CLOSING BELL

The S&P BSE Sensex lost 807 points or 2 per cent to end at 40,363 while NSE's Nifty50 ended at 11,839, down 242 points or 2 per cent. 

3:23 PM

Sobha nears 3-year low after ICRA revises outlook from stable to negative

The stock was trading lower for the fifth straight day. In the past one month, Sobha has underperformed the market by falling 27 per cent, as compared to 1 per cent decline in the S&P BSE Sensex. The stock was quoting lowest level since March 21, 2017. “The real estate division reported higher outflows in relation to the collections from customers due to the finishing costs in recently completed projects, higher outflows towards construction of land-owner share of built-up area in a project, and lower-than anticipated collections from certain newly-launched projects,” ICRA said in a rating rationale. READ MORE  

3:02 PM

NEWS ALERT | Market at over 2-week low

3:01 PM

SECTOR WATCH:: Nifty Bank index tanks over 1%

2:54 PM

Market check

>> Sensex tanks 700 points, or 1.72 per cent, at 40,463.58

>> Nifty50 at 11,868, down 212 points or 1.76 per cent.

2:46 PM

Heatmap: S&P BSE Sensex

2:44 PM

BSE500 stocks that hit 52-week low today

COMPANY	PRICE(rs)	52 WK LOW	CHG(%)
BASF INDIA	838.20	829.00	0.07
CANARA BANK	167.50	167.45	-3.04
FUTURE CONSUMER	18.90	18.85	-8.70
FUTURE LIFESTYLE	375.30	364.00	-1.38
GAYATRI PROJECTS	24.05	24.05	-4.94

2:43 PM

India VIX surges 21%

2:32 PM

Market check | Free fall in markets

2:32 PM

Market check

2:29 PM

Global Markets check

Global shares and oil slid on Monday while safe-haven gold surged as the spread of the coronavirus outside China darkened the outlook for world growth with infections and deaths rising in South Korea, Italy and the Middle East.

US stock futures were dumped with E-minis for the S&P500 falling 1.4 per cent while Nikkei futures stumbled 2.7 per cent. EuroStoxx 50 futures declined about 2 per cent while futures for London’s FTSE skidded 1.3 per cent.

 

Asian share indexes were also a sea of red. Australia's benchmark index slid 2.3 per cent while New Zealand was about 1.8 per cent lower. South Korea's KOSPI index fell about 3.4 per cent. Chinese shares opened down with the blue-chip CSI300 index easing 0.5 per cent.

 

That left MSCI’s broadest index of Asia-Pacific shares outside Japan off 1.9 per cent at its lowest since early February. Japanese markets were closed for a public holiday.

In commodities, oil prices slid as investors fretted about crude demand being pinched by the impact of the coronavirus outbreak, while leading producers appeared to be in no rush to curb output. Brent crude slumped 2.4 per cent, or $1.4, to $57.09 a barrel.

2:23 PM

Market check

2:17 PM

Rupee check

2:17 PM

NEWS ALERT | To discuss a major trade deal with India: Donald Trump

Photo: ANI

2:15 PM

NEWS ALERT | To sign a $3 bn deal for Helicopters for Indian Air Force: US President Donald Trump

- US to help India with their Air Defence System

2:11 PM

MARKET CHECK | Top 5 losers on the BSE at this hour

2:04 PM

There's much to gain from friendship between Trump and Modi: Nikki Haley

Former White House official Peter Lavoy said that the Modi-Trump summit "will be consequential" because security ties will be advanced, Kashmir issue will be deferred, Afghanistan will be managed, trade differences will be mitigated, energy ties will be enhanced and defence deals will happen. READ MORE

2:04 PM

Nifty sectoral indices at this hour

1:58 PM

NEWS ALERT | America is India's friend, and will always remain faithful: Donald Trump in Ahmedabad

1:56 PM

MARKET UPDATE:: Sensex extends fall, down 500 pts now

1:48 PM

GLOBAL MARKET UPDATE:: Europe opens lower

1:46 PM

SECTOR WATCH:: Nifty Metal index extends fall

1:36 PM

Contribution to S&P BSE Sensex's fall today

1:30 PM

India will become premier digital society: Mukesh Ambani at CEO Summit

Reliance Industries Chairman Mukesh Ambani on Monday said India is at the cusp of becoming a premier digital society, and will be among the top three economies of the world. In conversation Microsoft Chief Executive Satya Nadella at the Future Decoded CEO Summit here, he said the big change driving this transformation is the deepening of mobile networks which are working at a much faster pace than before. READ MORE

1:25 PM

MARKET CHECK

1:15 PM

BROKERAGE RADAR | ICICI Securities on Aurobindo Pharma

Growing US scrutiny is the new normal, for a company like Aurobindo, which owns the largest infrastructure of US focused plants, the stakes are even higher. In this backdrop, we expect this volatility to persist for some more time until the important plants come clear out of scrutiny. Another key event to watch is the Sandoz acquisition, post which the contribution from the US will increase to ~58%, highest vis-à-vis most domestic pharma companies. We maintain HOLD and arrive at a target price of Rs 555 (9x FY22E EPS of Rs 61.7).

1:01 PM

Hero MotoCorp shares slip to over 5-year low, tumble 12% in February

Shares of Hero MotoCorp (HMCL) slipped 2 per cent intra-day to hit an over five-year low of Rs 2,192 on the BSE on Monday amid concerns that the volume weakness might continue in the next 2-3 quarters due to inventory correction with dealers and notable price increases as a result of the BSVI transition. The two-wheeler major's stock was trading at its lowest level since May 2014. READ MORE