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Economic Times | 09 Mar, 2020 | 03.11PM IST
Markets Live: Sensex crashes 2,000 points; Nifty slips below 10,450; RIL plunges 11%
Watch this space as we bring you LIVE updates of the day's proceedings from Dalal Street.
!1 New UpdateClick here for latest updates
Sensex laggards: RIL alone pulling BSE Sensex down by about 500 points
Here are the top 15 stocks contributing to the index fall as of now.
$320 billion shaved off Saudi Aramco's market-cap in two days
Share price of the energy giant Saudi Aramco dropped by the daily maximum 10 percent for the second day in a row. In the past two days, some $320 billion were shaved off the capital value of the largest listed firm in the world. Its capitalisation stands at $1.44 trillion, way below the $2 trillion sought by the kingdom.
Unfazed by 6% Sensex fall! Prashant Jain says stocks to rebound, deliver big in 2020
The ED & CIO of HDFC Mutual Fund expressed optimism about the market outlook given the lower interest rate environment and the sharp drop in crude oil prices. Jain said stock market valuations have been reasonable for some time, but expensive stocks have kept getting costlier. “This crisis is a good time to invest in Indian market,” Jain said.
Fear on Dalal Street: India Vix spikes 31%
Volatility index spiked by over 31 per cent in Monday’s trade on rising concerns over the spreading coronavirus. The index is a measure of market’s expectation of volatility over the near term
Global selloff: European stocks see biggest one-day decline since 2016
UK's FTSE plunges 8%, Germany's DAX 7%, France's CAC 7.5%, Italy's FTSE MIB 11%
Index drags: RIL, HDFC twins and ICICI Bank alone responsible for over 1,000-point Sensex fall
Price as on 09 Mar, 2020 02:07 PM, Click on company names for their live prices.
Markets @ 2pm: Sensex still down nearly 2,200 points, Nifty tests 10,350
All stocks in the 30-share BSE Sensex benchmark in the red; ONGC down 15%, IndusInd Bank 12%
Not seeing a Lehman-like scenario; expect crude prices to bottom out in another 2-3 sessions
- Sandeep Tandon, Founder, Quant Group
S&P BSE Finance down nearly 6%
S&P BSE Finance falls over 350 points. All stocks except YES Bank in the red. Edelweiss Financial Services plunges 16.5%
2020 will be a good year for domestic stocks. This crisis is a good time to invest in Indian markets
- Prashant Jain, ED & CIO at HDFC Mutual Fund
The sharp decline in the global oil prices will benefit India. We estimate the savings on oil imports to be around $30 billion in FY21. This will also arrest the rising inflation and facilitate the next round of rate cuts by RBI.
- Suman Chowdhury, President – Ratings at Acuité Ratings & Research Ltd
RIL has lost Rs 1.08 lakh crore in market cap in one single day
RIL plunges 13%; m-cap slips below Rs 7 lakh crore
Price as on 09 Mar, 2020 01:45 PM, Click on company names for their live prices.
Readjusting happening in market; need to wait for markets to stabilize before deploying cash
- Atul Suri, Founder & CEO, Marathon Trends – PMS
Massive selloff grips D-Street: Sensex witnesses biggest percentage intraday fall in 11 years
Global selloff: European markets crack at open; FTSE100 down 8%, DAX down over 7%
Markets @ 1.30: Sensex stocks hammered out of shape, down 2,450 points
Nifty below 10,400 for the first time since December 2018
S&P BSE METAL cracks 7%. Biggest losers: Vedanta (12%), NMDC (10%), Jindal Steel (9%), SAIL (8.65%)
Price as on 09 Mar, 2020 01:28 PM, Click on company names for their live prices.
S&P BSE Energy down 10% at 3,853.67; Hindustan Oil Exploration plummets 20%
BREAKING: Sensex plummets over 6%, down over 2,300 points; Nifty tests 10,300, down nearly 600 points
RIL down nearly 13%; slides most since Oct 2008
Price as on 09 Mar, 2020 01:22 PM, Click on company names for their live prices.
10-year bond yield falls below 6%, first time since Jan 2009
FTSE100 index futures down 9.35%
Sensex witnesses biggest intraday fall in absolute terms
Nifty Bank enters bear market, down 20% from recent highs
Bank Nifty enters bear market
Recovery I believe/hope would be a broad-based one: Porinju
End of Correction or are we in a Bear market? As a badly affected fund manager value-investing in small/mid caps, t… https://t.co/5C0KY2nHWk
— Porinju Veliyath (@porinju) 1583738471000Nifty slips below 10,500 for first time since December 2018
IRCTC crashes 5%; only sell orders on bourses
Indian Railway Catering and Tourism Corporation (IRCTC), which was among the favourites of investors barely two weeks back cruising higher almost everyday, had only ‘sell’ orders on Monday. Shares of the railways ticketmaster were quoting at Rs 1,290.70, down 5 per cent as traders feared a rapidly spreading coronavirus could hit travel plans of domestic and international travellers.
Saudi Aramco shares open 10% lower as oil price crash
Torrent Pharma gets shareholder nod to raise up to Rs 5,000 cr
Price as on 09 Mar, 2020 12:37 PM, Click on company names for their live prices.
Indiabulls Housing Fin shares plunge over 13%
Shares of Indiabulls Housing Finance on Monday tripped over 13 per cent after the company said it had an exposure of Rs 662 crore in the form of bonds to Yes Bank and it has no term loans outstanding from the lender. On the BSE, the stock plunged 12.85 per cent to Rs 221.70. "Yes Bank owes to Indiabulls Housing Finance Rs 662 crore via additional tier 1 (AT-1) bonds," according to a regulatory filing.
Lower crude oil prices will be good for nation, consumers and refiners
- MK Surana, CMD, HPCL
YES Bank debt writedown to hit sector capital-raising
The unexpected writedown of some bonds issued by crisis-hit Indian lender YES Bank Ltd as part of a state-led rescue is set to raise borrowing costs and make capital-raising tougher for other banks, investors and analysts said. The take over of YES Bank by India's central bank last week comes against the backdrop of a string of scandals in the country's financial sector in the last couple of years - from a $2 billion fraud at a large state-owned bank to mismanagement of funds at shadow banks.
Fall in crude oil prices positive for India: Economic Affairs Secretary
The fall in crude oil price is positive for the country, says Atanu Chakraborty, Economic Affairs Secretary. His views came after oil prices tanked over 30 per cent on Monday. He also added that the domestic equity markets are falling due to global cues and coronavirus.
Sensex down by 1600 points. Nifty slips to a 7-month low
Nearly Rs 5 lakh cr investor wealth wiped off as markets plunge
Market capitalisation (m-cap) of BSE-listed companies saw a massive decline after the 30-share index plunged 1515.01 points, or 4.03 per cent, to 36,061.61. The NSE Nifty too cracked 417.05 points, or 3.80 per cent, to 10,572.40. The carnage in the equity market wiped out investor wealth worth Rs 4,79,820.87 crore, taking the total m-cap to Rs 1,39,39,640.96 crore on the BSE.
Biocon drops 2% even as USFDA accepts license application for Bevacizumab
The scrip fell 2.26 per cent to Rs 302.80 in a weak market. The US Food and Drug Administration (USFDA) has accepted biologics license application by Mylan and Biocon for proposed biosimilar to Bevacizumab for review, according to a regulatory filing.
OMCs BPCL, HPCL and IOC jumps up to 8% on falling crude prices
Price as on 09 Mar, 2020 11:05 AM, Click on company names for their live prices.
Ahluwalia Contracts bags orders worth Rs 661 cr
Ahluwalia Contracts (India) said it has secured new orders aggregating to Rs 129 crore (approx.) for electrical works of Medical College at Village Koriyawas Distt. Mohinder Garh (Haryana) awarded from Haryana PWD, B&R and another work order of Rs 532 crore.
Max Life’s exposure limited to YES Bank Tier 2 bonds: Max Fin
Max Life Insurance or Max Financial have no exposure to Yes Bank AT1 bonds, the company said in a clarification. “Max Life's exposure is limited to Tier 2 bonds, which are totally safe as per the restructuring scheme announced by Reserve Bank of India,” it added.
Divi's Lab begins production at DCV-SEZ unit
Divi's Laboratories has commenced commercial production from DCV-SEZ unit of the company at Chippada Village, Bheemunipatnam Mandal, Visakhapatnam.
RIL tumbles over 7%; TCS now the most valued co
Shares of Reliance Industries tumbled 7.33 per cent to Rs 1,177. With the fall, the market cap of the company fell below the same of TCS, at Rs 7.46 lakh crore. The market values TCS at RS 7.61 lakh crore.
Shriram Transport exposure in YES Bank at Rs 50cr
Shriram Transport Finance Company clarified that it does not hold any additional Tier I bonds of Yes Bank. The Company had invested in Upper Tier II bonds of Yes Bank of Rs 50 crores in the year 2010 and the same are outstanding as on date, it said in a regulatory filing.
YES Bank shares climb 30% on SBI rescue
Shares of YES Bank advanced as much as 30 per cent in Monday’s early trade after reports that State Bank of India (SBI), which needs to come up with equity investment of over Rs 20,000 crore to save the bank from collapse, is in talks with more than half-dozen potential investors.
Sensex sinks 1,100 pts's as oil prices plunge 31%; Nifty below 10,700
OPENING BELL: Sensex sinks 1,100 points as oil prices plunge 31%; Nifty slips below 10,700; YES Bank soars 20%
Pre-open session: Sensex drops 380 points, Nifty below 10,800; rupee trades at 74 level against dollar
Oil output cut was already factored in; OPEC+ talks failing shocked the market
- Azlin Ahmad, Argus Media
Singapore trading sets stage for gap-down start
Nifty futures on the Singapore Exchange traded 209.75 points or 1.94 per cent lower at 10,620.50, indicating a gap-down start for Dalal Street.
Tech view: Nifty support at 10,800
NSE Nifty on Friday broke below the immediate support of 11,000 and formed an indecisive 'Spinning Top' on the daily chart. The index is in the oversold zone and zone around 10,800-900 could offer some support to the index. On the upside, the index should face resistance in the 11,100-11,200 range, said analysts.
Oil prices plunge 31% in a free fall
Oil fell by the most since 1991 on Monday after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to unleash its pent-up supply onto a market reeling from falling demand because of the coronavirus outbreak. Brent crude futures fell by as much as $14.25, or 31.5%, to $31.02 a barrel. That was the biggest percentage drop since Jan. 17, 1991, at the start of the first Gulf War and the lowest since Feb. 12, 2016.
Asian markets drop on oil, virus fears
Asian shares sank on Monday as panicked investors fled to bonds to hedge the economic shock of the coronavirus. Energy stocks took a beating, with E-Mini futures for the S&P 500 already down 4.7 per cent. Japan's Nikkei fell 4.4 per cent and Australia's commodity-heavy market 5 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan lost 1.2 per cent.
US indices declined 1-2% on Friday
US stocks fell on Friday as fears of economic damage from the spread of the coronavirus intensified. The Dow Jones Industrial Average fell 256.5 points, or 0.98 per cent, to 25,864.78, the S&P500 index lost 51.57 points, or 1.71 per cent, to 2,972.37, and the Nasdaq Composite dropped 162.98 points, or 1.87 per cent, to 8,575.62.
FIIs sell Rs 3,595 crore worth of stocks
Net-net, foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 3,594.84 crore on Thursday, data available with NSE suggested. DIIs were net buyers to the tune of Rs 2,.543.78 crore, data suggests.
Sensex on Friday
Market benchmark Sensex plunged 894 points on Friday following intensifying rout in global stocks on coronavirus concerns, while the regulatory curbs on Yes Bank further soured sentiment. After nosediving over 1,459 points during the day, the 30-share index settled 893.99 points or 2.32 per cent lower at 37,576.62. Likewise, the broader NSE Nifty tanked 279.55 points or 2.48 per cent to close at 10,989.45.
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