Share Market LIVE: On February Futures and Options, expiry day, equity market benchmark Sensex and Nifty dropped nearly 1%, tracking global sell-off on Thursday amid coronavirus epidemic that weighed on investor sentiments. BSE 30-share S&P Sensex traded 400 points lower at 39,530 and NSE 50-share index Nifty50 fell 112 points lower to 11,565. All indices were trading in red, with 2.8% decline in realty and 2% fall in media scrips. Yesterday, BSE 30-share S&P Sensex closed 392 points lower at 39,888 and NSE 50-share index Nifty50 closed 119 points lower at 11,678. Domestic indices tracked volatility from global equities due to rising concerns over coronavirus epidemic outside China and on worries over its impact on the global economy. The CDC also warned Americans to brace for a possible coronavirus pandemic that drove another Wall Street tumble and pushed yields on safe-haven Treasuries to record lows. Traders said market is also likely to be bearish on the Futures and Options expiry day. Besides this, market is expected to be volatile as investors will also keep a watch on GDP numbers, that will be released tomorrow.
Here's a look at the live updates of the market action on BSE and NSE today:
Cipal top loser today
11: 40 AM
Cipla shares were the top losers for the second consecutive day on NSE after the pharma major informed the exchanges about the Goa manufacturing facility inspection conducted from 16-27 September 2019 by the United States Food and Drug Administration (USFDA) and said it has received a warning letter from USFDA. today, share price of Cipla were tradinfg 3% lower at Rs 409.20
Rupee today
10: 45 AM
The Indian rupee appreciated by 5 paise to 71.60 against the US dollar in early trade on Thursday amid easing crude oil prices and weakening of the greenback in the overseas market. At the interbank foreign exchange the rupee opened at 71.65 then gained further ground and touched a high of 71.60, registering a rise of 5 paise over its previous close. On Wednesday, rupee had settled for the day at 71.65 against the US dollar.
Rupee vs Dollar: Rupee rises 5 paise to 71.60 per dollar amid easing crude prices
Coronavirus Update
10: 35 AM
The virulence of the novel coronavirus continues to show a declining trend in China which reported 29 new fatalities, the lowest in weeks, taking the death toll to 2,744 while the confirmed cases climbed to 78,497, officials said on Thursday.
As per US Centers for Disease Control and Prevention, the US has 60 confirmed coronavirus cases, and added that the number is expected to grow.
Gas prices in India expected to get slashed by 25% from April10: 30 AM
Reduction in natural gas prices in India, in line with global prices, is expected to boost the business of city gas distributors (CGDs), fertiliser manufacturers and power generation companies, besides driving gas consumption in the domestic market. Gas prices in India are expected to get slashed by 25 per cent from April. In the next two revisions, which will fall in April and October, the price is expected to be cut by 45 per cent to 10-year low of $2 a million British thermal unit (MBtu).
Decline in gas prices will be beneficial for listed companies from sectors such as Oil Marketing Companies (OMCs), paints, fertilisers, power and airline carriers.
Decline in natural gas prices from April expected to rekindle demand
Market drops nearly 1%
10: 20 AM
On February Futures and Options expiry day, equity market benchmark Sensex and Nifty dropped nearly 1%, tracking global sell-off on Thursday amid coronavirus epidemic that weighed on investor sentiments. BSE 30-share S&P Sensex traded 400 points lower at 39,530 and NSE 50-share index Nifty50 fell 112 points lower to 11,565. All indices were trading in red, with 2.8% decline in realty and 2% fall in media scrips.
FII/DII action on Wednesday
10: 15 AM
On a net basis, foreign institutional investors sold equities worth Rs 3,336.60 crore, while domestic institutional investors bought shares worth Rs 2,785.67 crore on Wednesday, data available with stock exchanges showed.
Global market update
10: 10 AM
Asian shares fell on Thursday following US trend, with stock exchanges in Hong Kong, Seoul and Tokyo were trading with losses, while bourses in Shanghai were positive. SGX Nifty traded at 11,755, down 63 points or 0.53%.
Equities in the US too ended on a tepid note on Wednesday, as the stocks continued their sharp two-day sell-off. The US Centers for Disease Control and Prevention warned Americans to brace for a possible coronavirus pandemic that drove another Wall Street tumble and pushed yields on safe-haven Treasuries to record lows. US Futures (Dow Jones) traded at 27,314, up 197 points or 0.73%.
Coronavirus outbreak: IMF, World Bank consider 'virtual' Spring Meetings
Market update
10: 06 AM
According to analysts, intense spread of coronavirus is pushing investors away. There is sharp foreign fund outflow led by strong dollar index, as investors reduce their exposure to emerging markets amid global uncertainty.
Sensex pack losers and gainers
10: 05 AM
Top losers in the Sensex pack included HCL Tech, HDFC Bank, TCS, M&M, IndusInd Bank, Sun Pharma, ICICI Bank and Reliance Industries. On the other hand, Titan, NTPC, Nestle India and Kotak Bank were trading with gains.
TVS Motor falls almost 2%
10:00 AM
TVS Motor announced today that the auto major has entered into partnership with Honduras-based co Motomundo SA, in a move to further consolidate company's presence in South America.
Motomundo SA will facilitate the sales and service of TVS products across all their stores in the country in a phase-wise manner, the filing added.
Currently the stock price TVS Motor is declining 8.20 points or 1.88% at Rs 427.10on BSE.
Coronavirus Update
9: 55 AM
119 Indian nationals who were on board the Diamond Princess Cruise ship have been brought back in a special Air India flight. The flight has also delivered 15 tonnes of medical equipment. An IAF MCC C17 also evacuated 76 Indian & 36 foreign nationals from Wuhan.
119 Indians on board coronavirus-hit Japan cruise land in New Delhi
Rupee today
9: 55 AM
The rupee appreciated 2 paise to 71.63 against the US dollar in morning session.
Brent Crude today
9: 50 AM
Brent Crude traded at $55.33 per barrel, up 0.69%.
Vodafone gains 2%
9: 40 AM
Ahead of the crucial meet of Digital Communications Commission (DCC) on the AGR issue, Vodafone Idea has reportedly written a letter to the government asking for adjustment of Rs 8,000 crore of Goods and Services Tax (GST) refund towards AGR dues. In addition, the telco has requested deferment of the AGR payment schedule. Vodafone Idea is also batting for reducing license fee from existing 8 per cent to 3 per cent, and spectrum usage charges (SUC) from about 3 per cent currently to 1 per cent.Today, shares of Vodafone are gaining 4% higher at Rs 4.20 on BSE.
SBI Card IPO
9: 30 AM
The initial public offering (IPO) of SBI Cards and Payment Services, credit card unit of the country's largest lender SBI, will be launched on March 2 at a price band of Rs 750-755 per share. SBI Cards IPO comprises issue of fresh equity worth Rs 500 crore for strengthening the company's capital base and offer for sale by promoters of up to 13 crore shares. With the IPO, SBI Cards will become the fifth company under the SBI Group to be listed on bourses.
SBI Cards IPO: 10 things to know about share sale on March 2
Opening Bell
9: 20 AM
Extending the fall for the fifth straight session, market indices Sensex and Nifty opened majorly bearish on Thursday, following overseas trend, amid across- sector based heavy sell-off. BSE 30-share S&P Sensex traded 250 points lower at 39,635 and NSE 50-share index Nifty50 fell 70 points lower to 11,607. All indices were trading in red, with 2% decline in realty and 1% fall in media scrips.
Stocks to watch today on February 27
9:00 AM
State Bank of India, Ruchi Soya, D B Corp among others are the top stocks to watch out for in Thursday's trading session
Stocks in news: State Bank of India, Ruchi Soya, DB Corp and more
Last Close
8: 50 AM
Sensex and Nifty closed majorly bearish on Wednesday, following overseas trend, amid heavy sell-off in almost all sectors. BSE 30-share S&P Sensex closed 392 points lower at 39,888 and NSE 50-share index Nifty50 closed 119 points lower at 11,678. Domestic indices tracked volatility from global equities due to rising concerns over coronavirus epidemic outside China and on worries over its impact on the global economy. Traders said market is also likely to be bearish ahead of Futures and Options expiry.