MARKET WRAP: Sensex slips 811 pts, Nifty ends at 3-yr low; ZEEL slides 20%
All that happened in markets today
 "Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters")
There doesn't seem to be any respite for the bulls as markets once again ended with over 2.5 per cent cut on Tuesday amid escalating fears of economic dislocation due to coronavirus (Covid-19).
The S&P BSE Sensex slipped 811 points or 2.58 per cent to end at 30,579 with ICICI Bank (down 9 per cent) being the biggest loser and Hindustan Unilever (HUL) -- up around 3.5 per cent -- the biggest gainer.
On the NSE, the frontline index Nifty50 breached the crucial 9,000-mark to settle at 8,967 levels, down 230 points or 2.5 per cent. Fear guage India VIX jumped around 7 per cent to 62.88 levels.
Among individual stocks, YES Bank continued to buck the trend and ended over 59 per cent higher at Rs 59 levels on the NSE. READ MORE
Infosys, on the other hand, tumbled 4.7 per cent amid Covid-19 fears. The stock hit a 52-week low today. READ MORE
Zee Entertainment Enterprises (ZEEL) cracked 20 per cent to Rs 133 apiece and hit an over 7-year low after reports said the Enforcement Directorate (ED) has issued summons to a clutch of borrowers of the bank, including Essel group Chairman Subhash Chandra, Jet Airways founder Naresh Goyal, Cox & Kings promoter Peter Kerkar, Dewan Housing Finance promoter Kapil Wadhawan, and a few more in connection with the money laundering probe against YES Bank co-founder Rana Kapoor. READ MORE
In the broader market, the S&P BSE MidCap slipped around 2 per cent to 11,670 points and the S&P BSE SmallCap ended at 10,844, down over 2 per cent.
Global Markets
Asian shares held their ground on Tuesday in a volatile session following one of Wall Street’s biggest one-day routs in history as headlines about the coronavirus outbreak and its global economic impact whiplashed investor sentiment. Australian shares closed 5.9 per cent higher, to record the biggest daily percentage gain since Oct 2008, following a nearly 10 per cent plunge on Monday. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat, as was Japan’s Nikkei stock index which
traded either side of even through a bumpy day. South Korea’s KOSPI was down 2.4 per cent.
Futures trade pointed to a positive open in US and European markets.
In commodity markets, US crude ticked up 4.25 per cent to $29.92 a barrel. Brent crude also rose 2.40 per cent to $30.77 per barrel, but these gains are likely to be temporary. Gold, on the other hand, inched lower.
(With inputs from Reuters)
4:06 PM
Here's how sectoral indices on the NSE performed
4:05 PM
MARKET AT CLOSE | Top losers and gainers on the S&P BSE Sensex
3:44 PM
CLOSING BELL
The S&P BSE Sensex ended at 30,579, down 811 points or 2.58 per cent while NSE's Nifty ended at 8,967 levels, down 230 points or 2.5 per cent.
3:22 PM
MARKET STRATEGY :: IIFL
At present, we would play it safe, but considering the recent correction, we would be a bit more inclined to assume risk and, hence, replace Power Grid in our large-cap top picks with Maruti. And so, our top picks are Bharti, HUVR, ICICI Bank, Maruti, SBI Life and ICICI Lombard. We would limit mid-caps, as before, to Deepak Nitrite, Navin Flourine and Gujarat Gas
3:19 PM
NEWS ALERT | Muthoot Fin announces interim dividend of Rs 15 apiece
3:11 PM
Goldman slashes China growth forecast; imported coronavirus cases rise
Goldman Sachs said on Tuesday that China’s economy will likely shrink 9 per cent in the first quarter, underscoring how the coronavirus has disrupted normal business activities, even as China reported a rise in new cases of the disease, most of them imported. Goldman cut its estimate for China’s first-quarter gross domestic product growth to a 9 per cent contraction, from a previous forecast of 2.5 per cent growth, citing “strikingly weak” economic data in January and February. It also lowered its full-year GDP forecast to 3 per cent growth from an earlier estimate of 5.5 per cent.
3:06 PM
NEWS ALERT | Dow futures erases all gains, slips 1,000 pts from highs
3:05 PM
MARKET CHECK | Nifty slips below 9,000
3:01 PM
MARKET CHECK | Selling intensifies during last hour
2:58 PM
MARKET UPDATE:: Financial shares under pressure
-- Bandhan Bank, Shriram City Union Finance, Sundaram Finance, Manappuram Finance, Mahindra & Mahindra Financial Services and L&T Finance Holdings hit 52-week lows on the NSE
-- IndusInd Bank tanked 11 per cent, while ICICI Bank and Federal Bank down between 5 per cent and 6 per cent
-- IndusInd Bank tanked 11 per cent, while ICICI Bank and Federal Bank down between 5 per cent and 6 per cent
2:57 PM
MFs investing in fixed-income securities see Rs 28,000 crore outflow in Feb
According to Association of Mutual Funds in India (Amfi), mutual funds that invest in fixed-income securities saw an outflow to the tune of Rs 27,940 crore last month compared with an inflow of Rs 1.09 lakh crore in January. READ MORE
2:54 PM
Heatmap: S&P BSE Sensex
2:47 PM
MARKET CRASH WOES | France's mkt regulator bans short-selling on 92 stocks: Reuters
>> France is banning short-selling on 92 stocks during trading on Tuesday, the financial markets authority said as it tries to calm market turmoil.
>> The Autorite des Marches Financiers said in a statement that it was closely monitoring the situation on the markets in relation with other regulators.
>> Earlier Finance Minister Bruno Le Maire said it was important to keep financial markets open in order for companies to be correctly valued and said that other things such as banning short-selling could be done before closing markets.
2:44 PM
NEWS ALERT | Aeronautical charges for domestic airlines could be relaxed: TV reports
2:36 PM
NEWS ALERT | Dr Reddy's Labs launches Ziprasidone Mesylate (Injection) in the US: BSE filing
>> Co announced the launch of Ziprasidone Mesylate for Injection, 20 mg (base)/ml Single-dose Vials, the therapeutic generic equivalent of Geodon® (ziprasidone mesylate) Injection, 20 mg/ml, approved by the US Food and Drug Administration (USFDA).
Topics : Markets MARKET WRAP
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First Published: Mar 17 2020 | 7:39 AM IST
