10-year government bond yield hardened to 6.23 per cent on Friday, up 0.05 per cent from 6.18 per cent on Thursday, February 25
Among individual stocks, Lupin zoomed 3.4 per cent in the intra-day trade and hit a high of Rs 1,060, Sun Pharmaceuticals advanced 2 per cent, and Dr Reddy's Labs gained 1.7 per cent.
Over the last three sessions, the BSE Sensex has lost 1,444.53 points or 2.90 per cent and the NSE Nifty has shed 405.80 points or 2.8 per cent
The Nifty IT index plunged 2.24 per cent and was the top sectoral loser on the NSE
The Jefferies report said that within the Nifty 100 several PSUs such as State Bank of India, GAIL, ONGC, NTPC, Bank of Baroda, Punjab National Bank & Power Finance Corporation slipped below GFC lows.
Sectors like banks, non-bank finance companies (NBFCs), consumer durables and non-durable players, would all make interesting bets.
Rakesh Jhunjhunwala and family, the big bull of the equity markets, have lost Rs 4,558 crore in CY20 so far, with the value of their investments slipping below Rs 10,000 crore
That apart, national laboratories have also been allowed to carry out clinical testing of Covid-19, as the number of cases went past 400 in India.
US companies are likely to cut capex plans by $900 billion (4 per cent of gross domestic product), trim spends on buybacks and mergers & acquisitions (M&As) by around $600 billion (3 per cent of GDP).
We need to learn from China and ban short-selling. This would reduce the speculative hammering of the stocks and thereby help in stabilising the markets.
While the Indian equities were isolated from the global rout till early February, the downfall began when the virus began to spread outside mainland China, its originating country.
The entire panic has been initiated by fears that the system to curtail the Coronavirus (COVID-19), across the globe, is misplaced.
While a coordinated aggressive monetary easing from the central banks is most likely to offer some respite in the near-term, it is unlikely to improve the sentiments
A stock or index is said to be in a bear phase if the benchmark extends its decline to 20 per cent.
The S&P BSE Sensex needs to close above 37,700 levels on Friday and one needs to see buying emerge at lower levels. Only then, one can see a revival towards 39,000 levels in the days ahead.
Among sectors, refineries, financials including banks and information technology (IT) have seen more than Rs 1-trillion market-cap erosion in the past six sessions.
Aberdeen Standard Investments Ltd manages $676.8 billion as of end-March, globally
The plan is to buy in the second leg down, usually it's best to wait for the markets to build a base before committing heavily back into the buy side