Share Market LIVE: Market indices Sensex and Nifty fell further on Wednesday, tracking mixed cues from global equities, amid heightened worries of COVID-19 virus outbreak. Market opened higher, although gave up initial gains following reports that suggested 15 Italian nationals who came from Jaipur were tested positive for coronavirus, taking the total infected number of cases to 28. Following this, BSE 30-share S&P Sensex fell 190 points lower at 38,432 and Nifty50 traded 45 points lower at 11,261. Sectors traded mixed as gains in FMCG, IT and pharma were capped by losses in metal, media, banking and realty indices.
Globally, equity markets traded with a mixed trend as investors sentiments were bearish after the rate cut by Fed reserve, amplifying fears about the magnitude of the coronavirus' impact on the economy. besides incessant foreign fund outflow, domestic sentiments were negative in domestic grounds after 18 fresh cases of coronavirus cases were reported in India, that has similar population density as China.
Central banks all over the world, including Reserve Bank of India have indicated possible rate cuts due to the economic fallout of COVID-19. Cases of coronavirus is reportedly rising much more rapidly outside China than within the country.
Here's a look at the live updates of the market action on BSE and NSE today:
FII and DII on Tuesday
12: 30 PM
On a net basis, foreign institutional investors (FPIs) sold equities worth Rs 2,415.80 crore, while domestic institutional investors bought shares worth Rs 3,135.24 crore on Tuesday, data available with stock exchanges showed.
Market Update
12: 00 PM
According to traders, besides incessant foreign fund outflow, market remained on edge as fifteen people in India were confirmed to be infected by coronavirus.
Top losers and gainers
11: 45 AM
IndusInd Bank, Tata Steel, HDFC Bank, SBI and ICICI Bank were among the top losers, while Bajaj Auto, Asian Paints, Bharti Airtel and HCL Tech were trading with gains.
Market declines further
11: 35 AM
Market indices Sensex and Nifty fell further on Wednesday, tracking mixed cues from global equities, amid heightened worries of COVID-19 virus outbreak. Market opened higher, although gave up initial gains following reports that suggested 15 Italian nationals who came from Jaipur were tested positive for coronavirus at AIIMS, Delhi. Following this, BSE 30-share S&P Sensex fell 190 points lower at 38,432 and Nifty50 traded 45 points lower at 11,261. Sectors traded mixed as gains in FMCG, IT and pharma were capped by losses in metal, media, banking and realty indices.
YES Bank slips 6.5%
11: 30 AM
YES Bank share price were trading as top losers on Wednesday, declining 6.5% following reports that the private lender may face regulatory hurdle by the Reserve Bank of India over foriegn holding in the firm.
Following the media reports, YES Bank stock fell 6.56% to the intraday low of Rs 29.20 on BSE, as compared to the previous close of Rs 31.25. The stock trades close to its 52-week low of Rs 29.05, hit on October 1, 2019.
Stocks to watch today
11: 05 AM
Bharti Airtel, Vodafone Idea, NBCC, HAL among others are the top stocks to watch out for in Wednesday's trading session
Stocks in news: Bharti Airtel, Vodafone Idea, NBCC, HAL and moreGlobal markets today
10: 45 AM
Asian markets are trading mixed with Kospi leading the gainers with over 2% gain. China's services sector growth plunged to 26.5 in Feb versus 51.8 in Jan. US markets closed down after the Federal Reserve cut interest rates by 50 bps in a surprise move raising concerns over the impact on the economy. European markets closed higher as global central banks pledged to do everything to support global economy.
Market Update
10: 35 AM
Market indices Sensex and Nifty on Wednesday traded muted with a negative note, tracking mixed cues from global equities, amid heightened worries of COVID-19 virus outbreak after Fed reserve cut interest rates by 50 bps. Market opened higher today although gave up initial gains following reports that suggested 15 Italian nationals who came from Jaipur were tested positive for coronavirus at AIIMS, Delhi. BSE 30-share S&P Sensex traded 65 points lower at 38,560 and Nifty50 traded 11 points lower at 11,291. Sectors were mixed as gains in FMCG, IT and pharma were capped by losses in metal, media, banking and realty indices.
Rupee opens higher
10 :30 AM
At the interbank foreign exchange the rupee opened at 73.10, then gained further ground and touched a high of 72.90 against the US dollar. It was last trading at 72.95, showing a rise of 24 paise over its previous close.
On Tuesday, the Indian currency had fallen by 43 paise to close at a 16-month low of 73.19 against the US dollar amid concerns over the impact of coronavirus.
Rupee vs Dollar: Rupee recovers 24 paise to 72.95 per dollar after RBI's assurance
Rising cases of coronavirus in India
10: 15AM
With 15 more Italians testing positive at AIIMs Delhi, the total number of infected Indians has reached 18. Earlier today, health officials confirmed 15 Italian tourists were tested positive at AIIMs. India reported three fresh coronavirus cases on Tuesday. While Prime Minister Narendra Modi has urged people not to panic, the outbreak reports has already created fear among citizens. As part of its preventive measures, the Ministry of Health has issued an advisory saying 'help us help you' and a helpline for a speedy response. The Centre has also placed visa curbs on four countries as more and more countries are reporting rise in cases related to the deadly coronavirus.
Global update
10:00 AM
Globally, equity markets traded with a mixed trend as investors sentiments were bearish after the Fed reserve cut interest rates by 50 bps, indicating the economic impact of the pandemic, that has risen worldwide. Further, sentiments were mixed in domestic grounds after 15 fresh cases of coronavirus cases were reported in India, that has a similar population as of China, suffering the most from the virus. Central Banks all over the world, including Revserve Bank of india have indicated a possible rate cut hopes, in a move to ease the economic fallout from the spreading coronavirus. The novel virus continues to spread around the world despite travel restrictions. It has now caused an epidemic, rising much more rapidly outside China than within the country.
Opening Bell
9: 30 AM
Extending gains for second consecutive day, market indices Sensex and Nifty on Wednesday traded marginally higher, tracking mixed cues from global equities, amid heightened worries of COVID-19 virus outbreak after Fed reserve cut interest rates by 50 bps. BSE 30-share S&P Sensex traded 51 points higher at 38,676 and Nifty50 traded 13 points higher at 11,316. Sectors were mixed as gains in FMCG, IT and pharma were capped by losses in metal, media, banking and realty indices.
Last Close
9: 10 AM
Snapping seven straight days fall, market indices Sensex and Nifty on Tuesday closed 1.2% higher each, tracking positive cues from global equities, as investors banked upon hopes of financial assurance by central banks worldwide, amid the covid 19 virus outbreak. BSE Sensex closed 479 points higher at 38,623 and NSE Nifty ended 170 points higher at 11,303. All sector indices closed in the green today, with metal and pharma index rising over 5%.