- Will the RBI cut rates today? Fiscal boost also needed to battle slowdown
- Future Retail hits over 3-year low; stock tanks 46% in four days
- YES Bank records sharpest ever intra-day rally, surges 58% in a weak market
- Investor wealth worth Rs 6.25 trillion wiped off as markets slide again
- SBI Cards lists 12% below issue price of Rs 755; recovers later
- Market valuation is attractive; time to take risk for long-term gains
- Multiplex operator shares tank; PVR slips 19%, Inox Leisure down 15%
- Gold rises after US Fed interest rate cut, but pares gains on cash hunt
- Have the Sensex, Nifty bottomed out? Here is what technical charts say
- Time to be greedy or fearful? Portfolio strategies for uncertain times
MARKET LIVE: Banks, metals drag Sensex 1,800 pts lower; India VIX up 11%
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SI Reporter |
Last Updated at March 16, 2020 13:47 IST
EVENT HIGHLIGHTS
Indian benchmark indices were trading 5 per cent lower, dragged down by bank stocks, on Monday as sell-off resumed after a day's halt.
The uncertainity regarding the effect of the coronavirus epidemic continued to keep investor sentiment in check even though the US Federal Reserve cut interest rates to near-zero on Sunday in another emergency move to help shore up the US economy amid the rapidly escalating global coronavirus pandemic. READ MORE
The S&P BSE Sensex was down 1,860 points, or 5.33 per cent, at 32,290 levels. Index-heavyweight HDFC slipped over 7 per cent after leading Friday's rebound rally. State Bank of India was also down over 6 per cent after Friday's 13 per cent up move. IndusInd Bank was down over 16 per cent.
Meanwhile, YES Bank surged over 50 per cent to as much as 40.40 per cent on the NSE in a weak market despite reporting a net loss of Rs 18,564.24 crore for the Q3FY20 quarter.
The broader Nifty50 index hovered around 9,430 levels, down 522 points, or 5.25 per cent. All the Nifty sectoral indices were trading in the red with Nifty Bank, Nifty Private Bank, and Nifty PSU Bank indexes (all down over 5% each) taking the deepest cuts.
In the broader market, the S&P BSE MidCap index was down 558 points, or 4.4 per cent, and the S&P SmallCap dipped 610 points, or 5.19 per cent.
NEW LISTING
Shares of SBI Cards & Payment Services (SBI Cards) listed at Rs 661, 12.45 per cent below its issue price of Rs 755 on the National Stock Exchange (NSE) on Monday. On the BSE, it opened at Rs 658, 13 per cent lower against issue price. READ MORE
The uncertainity regarding the effect of the coronavirus epidemic continued to keep investor sentiment in check even though the US Federal Reserve cut interest rates to near-zero on Sunday in another emergency move to help shore up the US economy amid the rapidly escalating global coronavirus pandemic. READ MORE
The S&P BSE Sensex was down 1,860 points, or 5.33 per cent, at 32,290 levels. Index-heavyweight HDFC slipped over 7 per cent after leading Friday's rebound rally. State Bank of India was also down over 6 per cent after Friday's 13 per cent up move. IndusInd Bank was down over 16 per cent.
Meanwhile, YES Bank surged over 50 per cent to as much as 40.40 per cent on the NSE in a weak market despite reporting a net loss of Rs 18,564.24 crore for the Q3FY20 quarter.
The broader Nifty50 index hovered around 9,430 levels, down 522 points, or 5.25 per cent. All the Nifty sectoral indices were trading in the red with Nifty Bank, Nifty Private Bank, and Nifty PSU Bank indexes (all down over 5% each) taking the deepest cuts.
In the broader market, the S&P BSE MidCap index was down 558 points, or 4.4 per cent, and the S&P SmallCap dipped 610 points, or 5.19 per cent.
NEW LISTING
Shares of SBI Cards & Payment Services (SBI Cards) listed at Rs 661, 12.45 per cent below its issue price of Rs 755 on the National Stock Exchange (NSE) on Monday. On the BSE, it opened at Rs 658, 13 per cent lower against issue price. READ MORE
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