Energy stocks are under heavy pressure today with the sector down 3.3 per cent compared to the 1.3 per cent decline in the broader S&P/ASX 200. Altogether 10 stocks in the energy index are down, while Viva Energy which is unchanged.

New Hope has dropped a further 6.2 per cent to $3.05. Last Monday it was trading at $4.41. Cole Latimer wrote a feature on New Hope's problems over the weekend, available here.

WorleyParsons is down 5.3 per cent to $14.06 and Origin Energy is down 4.5 per cent to $7.22. Beach Energy is down nearly 4 per cent to $2.07.

Analyst with Morgans, Max Vickerson, says the energy sector is caught up in today's sell off, which is the first chance for Australia to respond to Wall Street's big fall on Friday.

There is some news around today about utilities gouging customers after the Hazelwood plant was shut down, and Brent oil prices are down 1 per cent. .

National Australia Bank will ditch its controversial "introducer" home loan program in an effort to clean up its reputation and practices in the wake of the royal commission. The move will place pressure on the other banks to follow NAB in putting an end to the practice of paying members of the public a commission to recommend new mortgage customers.

Commissioner Kenneth Hayne estimated NAB paid out $100 million in commissions between 2013 to 2016 to an array of people from gym instructors to members of local sporting clubs to in effect act as spotters of would-be borrowers. At that time, NAB had about 8000 introducers on its books, who were paid about 0.4 per cent commission on the value of the loan.

Around $24 billion of loans were made during that three-year period. But shocking evidence given during the banking royal commission disclosed how the introducer program had been rorted by some bank staff and introducers.

Read the full story from Elizabeth Knight here

Tropical Cyclone Veronica is now heading west, away from Port Hedland and towards Roebourne and Karratha. As you can see from the Bureau of Meteorology's map below, it is a very slow moving cyclone, travelling less than 40 kilometres in 12 hours. This is why flooding is a big danger. As we have reported, this cyclone is a major interruption to iron ore operations along the cost.

The Bureau reports: DESTRUCTIVE WINDS with gusts exceeding 125 kilometres per hour are occurring along the Pilbara coast between Roebourne and west of Port Hedland for the next few hours. Threre is a slight risk of Destructive winds at Wickham and Point Samson this morning but they are no longer expected in Karratha, Dampier and Roebourne.

Widespread, very heavy rainfall conducive to MAJOR FLOODING is likely over the Pilbara coast and adjacent inland areas during Monday. Heavy rainfall is expected to result in significant river rises, areas of flooding and hazardous road conditions. Some roads may become impassable and some communities may become isolated.

We've noticed Alex Waislitz has been buying lots of parcels of shares in his investment company, Thorney Technologies (TEK), which has Afterpay Touch as its biggest holding, followed by ReadCloud and Updater.

Mr Waislitz has bought more TEK shares on 13 occasions since Feburary 13, usually at 22 or 23 cents.

The share price has traded between 19.5 cents and 23.5 cents since the start of this year. However, TEK told the market on 28 February that net tangible assets per share are 26.8 cents, up from 25.9 cents in June.

Mr Waislitz has been doing something similar with Thorney Opportunities (TOP), buy on 8 occasions since the start of the year. Last week he provided a market update explaining why he had been buying more shares, saying the net tangible assets (NTA) are at 74.5 cents per share. TOP shares are down 2.3 per cent to 63 cents today.

"Naturally, I remain disappointed at the approximate 16 per cent discount to NTA at which TOP shares are trading," he told the market. "The stockmarket investor in me sees this as a strong buying opportunity and I have been steadily adding more TOP shares to my personal portfolio to take advantage of the discount."

He adds the current share price is a "non-justified discount" based on most of the listed investment companies trading at a discount due to last year's distressing market performance.

The real estate sector might be the only part of the S&P/ASX 200 that is rising today, up 0.1 per cent compared to a 1.2 per cent decline across the broader 200. But McGrath Real Estate has hit an all time low of 25 cents this morning, down from the listing price of $2.10 in December 2015.

Major shareholder John McGrath still holds 37 million shares plus a further 21.2 million through his investment vehicle Fondorru. These were worth $68.2 million in October 2016, but today are worth just $14.3 million. Other major shareholders include Perpetual, Yunhui Lin, Smollen Property, and Argo Investments.

Shares in Blackmores are down $1.41 this morning to $95.29. The share price still hasn't recovered from a 25 per cent plunge on 19 February after its half year results. Columnist Elizabeth Knight has a long interview with Marcus Blackmore in today's paper, starting with the observation he wasn't planning to come out of semi-retirement.

Moving from elder statesman and non-executive director to stand-in chief executive has been thrust upon him.

Not only that but it comes at a time when his eponymous company's share price is flagging and investors are feeling uncertain about the vitamin maker's prospects. Blackmore will take the helm formally next week after Richard Henfrey resigned in late February, just a week after handing down a difficult result and 18 months into the job.

The 73-year-old is both the accidental and completely natural candidate for the job even if he is not a long-term leadership antidote.

Read the full interview with Elizabeth Knight here

Also higher this morning is Freedom Foods Group with a rise of 5 per cent to $4.50, up from a closing price of $4.28 on Friday. This morning it kyboshed rumours Freedom might be interested in buying Kirin Holding's Lion Dairy and Drinks portfolio.

"Freedom Foods is not pursuing a bid for the Lion Dairy and Drinks Portfolio as part of any current sale process," it told the market.

"As previously stated at Freedom Foods half year results presentations in February 2019, the Company remains focussed on delivering on its unique capabilities and opportunities across Dairy Beverages and Nutritionals, Plant Based Beverages and Specialty Cereals and Snacks."

The S&P/ASX 200 is falling further, currently down 1.1 per cent or 69 points to 6125.8 points.

The entire financial services index is in red, with the most points being taken off by Commonwealth Bank, down 1.4 per cent to $70.42, Australia and New Zealand Bank dow 2.3 per cent to $25.92, and Westpac Bank down 1.5 per cent to $26.11.

A 1.5 million block trade of ANZ Bank shares went through at 11:05 at $25.93.

But the worst performing sector in percentage terms today is information technology, with a 3 per cent decline. It is being dragged down by Computershare, down 3.2 per cent to $17.20, Altium down 6.3 per cent to $32.81, and Afterpay Touch is down 3.8 per cent to $19.86.

Some of the few companies doing well today include Cash Converters, with a 12 per cent rise from 17 cents to 19 cents. This rise is based on 7 trades totalling 121,000 shares, most of which went through CommSec.

REVA Medical will stay in a voluntary suspension until 30 June, the company announced this morning. It has received emergency funding of $3 million from existing lenders to help with "immediate financial needs on an interim basis", but is in discussions about a broader restructure. Chief executive Reggie Groves has resigned, Jeff Anderson has been promoted. Doctor Stephen Oesterle will become a strategic advisor and resign from the board.

Chairman C Raymond Larkin, Jr, said "Following a comprehensive review with the assistance of our outside advisors, REVA has entered into an agreement with a group of existing debt and equity holders to fund the company's near-term operations. This funding helps to ensure REVA has sufficient time to pursue long-term financial solutions that serve the interests of our many constituents - including patients, customers, employees, creditors, and shareholders".

REVA went into a voluntary suspension on 20 February when it was trading at 17 cents.

The S&P/ASX 200 is now down to 6134 points. The only sector in green is real estate with a 0.1 per cent rise.

Our market is heavy with mining and banking stocks, and these sectors are down 1 per cent and 1.3 per cent respectively.