MARKETS: Indices end at 6-mth lows, Sensex tanks 894 pts; YES Bank down 56%

All that happened in markets today

4:18 PM

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

"The sell-off in India was triggered by weak global trend due to coronavirus outbreak, restricting international travel and trade. Additionally, moratorium enlarged domestic concern over safety of financial system and Indian rupee weaken past 74 levels due to these issues. The bailout is a positive development lowering long-term systemic problems and will increase safety for depositors. Market will be watchful about the final resolution to be offered by RBI & SBI soon".

3:55 PM

SECTOR WATCH | Bank stocks take the biggest hit

3:53 PM

MARKET AT CLOSE | Top losers and gainers on the S&P BSE Sensex

3:40 PM

CLOSING BELL

The S&P BSE Sensex tumbled 894 points or over 2 per cent to 37,577 levels while NSE's Nifty50 closed at 10,989, down 279.5 points or around 2.5 per cent.

3:23 PM

BUZZING STOCK | Pidilite Industries hits new high of Rs 1661, up 2%,

- The stock bounced back 5% from day's low of Rs 1,583 on the BSE 

3:21 PM

Equity Strategy by HDFC Securities

Worst of domestic economic woes are behind. However economic healing is likely to be protracted and FY21e growth of 6% will still be lower vs. potential growth. Govt & RBI are likely to maintain accommodative stance but headroom for counter cyclical measures is smaller now. While overall market valuations are still above long term averages, we believe investors should position their portfolios in favor of growth at a reasonable price (GARP), turnaround and select value plays instead of hiding in very expensive quality names.

3:12 PM

MARKET CHECK | YES Bank still down over 56%

3:06 PM

Nifty Auto index stages slight recovery

2:47 PM

NEWS ALERT | FM Sitharaman to address media over the YES Bank issue at 4:30 PM: CNBC TV18

2:46 PM

Tata Motors skids 10% as China sales slip 85% in Feb; stock down 37% in 1 month

Shares of Tata Motors slipped 10 per cent intra-day to Rs 112.95 on the BSE on Friday after the company said the reduction in China sales owing to the outbreak of coronavirus, is expected to reduce Jaguar Land Rover's (JLR) full-year EBIT (earnings before interest and tax) margin by about 1 per cent. It, however, added free cashflow in Q4 is still expected to be modestly positive. READ MORE

2:45 PM

NEWS ALERT | Promoters of IndusInd Bank plan to buy additional shares from open market: CNBC-TV18

2:43 PM

NEWS ALERT | NBCC gets NCLT's (New Delhi bench) nod for Jaypee Infra's resolution plan: CNBC TV18

2:43 PM

Bajaj Auto off day's lows, gains 1%

2:37 PM

Maruti trades around 1% higher

2:35 PM

Heatmap: S&P BSE Sensex

2:33 PM

Global Markets check

European shares resumed their slide on Friday, with travel stocks bearing the brunt, on fears that the economic damage of the coronavirus outbreak will be much more severe than expected. The pan-European STOXX 600 fell 1.7 per cent, erasing all the gains for the week.

Asian shares and US stock futures tumbled on Friday as disruptions to business from the coronavirus worsened, stoking fears of a prolonged global economic slowdown. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 2.1 per cent, while Japan’s Nikkei stock index sank 2.94 per cent. Australian shares were down 2.44 per cent.

Oil prices also fell due to worries that non-OPEC oil producers might not agree to output cuts even though global energy demand is weakening.

(Reuters)

2:23 PM

Expert Comment :: Rate cut right now will lead to asset bubble: Soumya Kanti Ghosh, chief economic advisor, SBI

>>  In COVID-19 so far, fiscal policies have been a dominant tool but monetary policy is now being used. However, there is no theoretical framework that can give a

precise ordering of whether monetary will be more potent than fiscal policy. In the extant case, there is no doubt that outbreak will have erosion of demand due to adverse labour market outcome on account of morbidity and mortality. 

>> However there is also an embedded adverse supply shock angle as China is the supplier of many critical inputs in the global supply chain of manufacturing. In this respect (possible) pandemic shock is not comparable to other types of crisis. Hence only a rate cut in current situation will only lead to asset bubble and no correction in demand.

2:08 PM

NEWS ALERT | May extend date for submission of EoI for Air India: Hardeep Singh Puri

>> Have received a lot of interest

>> Date may be extended to incorporate changes made recently.

Alert: EoI is Expresion of Interest

2:01 PM

MARKET UPDATE:: Nifty reclaims 11,000-level

2:01 PM

Antony Waste Handling Cell IPO :: Issue subscribed 46% so far on day 3

1:55 PM

NEWS ALERT | RBI may come out with a resolution plan for YES bank today: sources to CNBC TV18

1:55 PM

MARKET UPDATE:: Nifty Bank index up 700 pts off day's low

1:50 PM

MARKET COMMENT:: ICICI Securities on YES Bank

"Just like the large NCLT cases, a bailout involves bringing in fresh equity at extremely beaten down value (like | 1-2) by the fresh buyer. Accordingly, minority shareholders will be reduced to a very small percentage stake from current large position. In all cases, minority shareholders are set to lose and recommend that existing shareholders exit positions. We rate the stock as 'Sell' (from Reduce earlier)"

1:48 PM

NEWS ALERT | Filed self-assesment of AGR dues with DoT, says Vodafone Idea: Exchange filing

-- Self-assessment discloses AGR liabilites of Rs 21,533 cr

 

-- Have paid Rs 3,500 cr for AGR dues till now
 

1:48 PM

NEWS ALERT | FM Sitharaman on YES Bank moratorium

1:44 PM

NEWS ALERT | Tata Motors slides 9%

Coronavirus impacted China sales; Feb JLR retail sales down 85% YoY

1:37 PM

NEWS ALERT | Steps taken by RBI on YES Bank are in the interest of depositors: Finance Minister

-- Constantly in touch with RBI over YES Bank: FM
 

-- RBI Governor has assured of a quick resolution: FM

-- Can't give details of resolution plan for YES Bank right now: FM

1:30 PM

NEWS ALERT | Gateway Distriparks to consider payment of interim dividend for FY21 on March 12: BSE filing

1:29 PM

BUZZING STOCK:: Procter & Gamble Hygiene up over 3% in a weak market

1:27 PM

NEWS ALERT | Shilpa Medicare declares interim dividend of Rs 1.50 / share: BSE filing