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MARKET WRAP: Sensex tanks 812 pts amid weak global cues; India VIX up 13%

All that happened in the markets today

Image SI Reporter New Delhi
MARKET WRAP: Sensex tanks 812 pts amid weak global cues; India VIX up 13%

On the NSE, the benchmark Nifty50 ended at 11,251, down 254 points, or over 2 per cent.

The domestic benchmark indices witnessed across-the-board sell-off on Monday and ended over 2 per cent lower amid weak global cues. Investor sentiment also took a hit after the International Consortium of Investigative Journalism (ICIJ) reported on top-secret Suspicious Activity Reports or SARs, worth more than $2 trillion globally. In case of India, the FinCEN files so far have established sender-receiver connections for 406 transactions involving all major banks, including the country's largest, State Bank of India. READ MORE

The S&P BSE Sensex tumbled 812 points, or 2.09 per cent to settle at 38,034 levels. Of 30 constituents, 27 declined and just 3 advanced. IndusInd Bank (down 8.7 per cent) ended as the biggest loser on the index. 

On the NSE, the benchmark Nifty50 ended at 11,251, down 254 points, or over 2 per cent. India VIX -- markets' volatility index -- jumped 13 per cent to 22.6 levels.

The sell-off in broader market was more brutal. The S&P BSE MidCap index slipped 516 points, or nearly 3.5 per cent to end at 14,532 while the S&P BSE SmallCap index was down over 3.6 per cent to 14,747 levels.

All the sectoral indices on the NSE ended in the red. Nifty Metal cracked over 5.5 per cent to 2,232 levels while Nifty Realty index fell 6 per cent to 213 points. Nifty Bank declined over 3.3 per cent to 21,290 levels. 

Global markets

Asian shares slipped on Monday on fears the global economy may sputter for a while due to a resurgence of coronavirus infections in Europe while fading hopes for US fiscal stimulus hopes also weighed. In Europe, shares fell to two-week lows. S&P 500 e-minis declined 0.6 per cent, also pointing to a weak start for Wall Street on Monday. Most major Asian indexes were in the red and MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.6 per cent weaker at 565.75 levels.

In commodities, oil prices fell on the potential return of output from Libya as rising coronavirus cases also added to worries about global demand, although a tropical storm heading for the US Gulf of Mexico limited losses.

(With inputs from Reuters)

4:22 PM

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

"Indian benchmark indices succumbed to profit booking in the second half of the trading day and ended more than 2% down. It was in sync with global cues which turned negative following a surge in infections in various countries including in Europe. Additional restrictions were being considered in Europe following an increase in infections. With high valuations and worries that earnings may not justify such valuations anytime soon, markets may trade uncertain for the time being. Stay cautious."
3:43 PM

Market snapshot at Close

3:39 PM

Sectoral trends at Close

3:38 PM

Sensex Heatmap at Close

3:36 PM

Closing Bell

3:34 PM

Closing Bell :: Sensex ends over 800 pts lower

3:27 PM

Nifty hovers around 11,200

3:21 PM

Dow Jones Futures tank 560 pts

3:13 PM

Indiabulls Group stocks under pressure; Indiabulls Housing tanks 14%

Shares of Indiabulls Group companies were under pressure at the bourses on Monday. The group's financial arm, Indiabulls Housing Finance's shares tanked 14 per cent, while realty firm Indiabulls Real Estate was locked in 10 per cent lower circuit on the BSE. Shares of Indiabulls Integrated Services, too, were frozen at 5 per cent lower circuit at Rs 43.50; while Indiabulls Ventures slipped 3 per cent at Rs 219 on the BSE. In comparison, the S&P BSE Sensex was down 1.7 per cent at 38,193 points at 02:43 pm. READ MORE
loss, economy, shares, stocks, market, investment, savings, gdp, growth, revenue

3:12 PM

Sensex tanks nearly 800 points

3:08 PM

Bank stocks crash as FinCEN leak names Indian banks for suspicious transactions

Among the Nifty Bank constituents, IndusInd Bank tumbled 8.3 per cent to hit an intra-day low of Rs 562 per share. Besides, Bandhan Bank tanked 7 per cent, RNL Bank (6.6 per cent), Punjab National Bank (5.6 per cent), and IDFC First Bank (6.4 per cent). That apart, HDFC Bank, Federal Bank, SBI, Bank of Baroda, Axis Bank, and ICICI Bank were down between 0.3 per cent and 4.5 per cent at 2:45 pm. In comparison, the Nifty50 index was down 2 per cent, or 222 points, at 11,283 level. READ MORE

2:59 PM

HEATMAP:: Only 3 BSE Sensex constituents trading in the green

2:52 PM

Top losers on BSE at this hour

COMPANY PRICE(rs) CHG(%)
INDIABULLS HOUS. 153.95 -13.78
JINDAL STEEL 171.90 -13.38
INDBULL.REALEST. 55.05 -8.78
ASTER DM HEALTH. 133.10 -8.59
SOBHA 235.05 -8.33
» More on Top Losers
2:46 PM

MARKET UPDATE:: ICICI Bank, RIL, and Bharti Airtel top contributors to Sensex's plunge

2:38 PM

India VIX jumps over 11%

2:27 PM

MARKET CHECK | Indices under pressure; Sensex slips over 650 pts

2:27 PM

FinCEN files: Almost all Indian banks named for suspicious transactions

Between 2010 and 2017, a number of Indian banks, irrespective of ownership – public, private and foreign -- helped facilitate transactions red-flagged by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) for suspected money laundering, terrorism, drug dealing and financial fraud, latest leaks suggest.
 
International Consortium of Investigative Journalism (ICIJ) obtained the top-secret Suspicious Activity Reports or SARs, worth more than $2 trillion globally. These transactions are not outright evidence of frauds or proof of nefarious activities, but are red-flagged by the US authority as suspicious. READ MORE
 
2:17 PM

Rupee Closing

Rupee ends 73.39 per US dollar vs Friday's close of 73.45/$
2:07 PM

Hindustan Unilever hits over 3-month low; stock falls 12% in 2 months

In the past two months, HUL has underperformed the market by falling 12 per cent after it reported a mixed set of numbers for the quarter ended June 30, 2020 (Q1). In comparison, the S&P BSE Sensex has risen 2 per cent during the period. The company paid a dividend of Rs 23.50, including a special dividend of Rs 9.50 per share since June. READ MORE


1:59 PM

MARKET CHECK

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First Published: Sep 21 2020 | 7:44 AM IST

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