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Share Market Update: Sensex ends 581 points lower, Nifty at 8,269; all indices in red

Sensex, Nifty Live News Today: Sensex and Nifty has lost over 17% in the last 4 days of bearish session.

twitter-logo BusinessToday.In        Last Updated: March 19, 2020  | 16:32 IST
Share Market Update: Sensex ends 581 points lower, Nifty at 8,269; all indices in red
Here's a look at the updates of the market action on BSE and NSE today:

Sensex, Nifty LIVE: Extending decline for the fourth straight session, market indices Sensex and Nifty turned volatile and closed 2% lower on Thursday. Sensex closed 581 points lower at 28,288 and Nifty fell 205 points to end at 8,263.

Earlier, Sensex, Nifty lost over 6% within few minutes of Thursday's opening bell as investors were cautious on global markets taking a hit due to rising number of COVID-19 infections and deaths. Extending decline for the fourth straight session, BSE Sensex sank over 2,000 points to hit 26,750. NSE Nifty hit a low of 7,800, falling 584 points against its previous close of 8,468 level. Sensex and Nifty has lost over 14% in the last 4 days of bearish session.

The Covid-19 infection cases have risen drastically outside China, hurting major economies and disrupting supply chains. There are currently 219,181 confirmed cases and 8,965 deaths from the coronavirus outbreak. Of these, 85,742 have recovered globally. The number of infected cases in India has increased to 169. The death toll from coronavirus in India has risen to 4 till Thursday.

Here's a look at the updates of the market action on BSE and NSE today:

Market at close

3: 50 PM

Extending decline for the fourth straight session, market indices Sensex and Nifty turned volatile and closed 2% lower on Thursday. Sensex closed 581 points lower at 28,288 and Nifty fell 205 points to end at 8,263.

SEBI India allows listed companies till June 30, to submit Q4 & FY20 results

3:20 PM

Markets regulator Sebi on Thursday gave relaxation of 45 days to companies for filing fourth quarter financial results and one-month extension to file results for 2019-20. The decision has been taken in the wake of coronavirus pandemic, which has resulted in many restrictions, including free movement of people, thereby hampering businesses and day-to-day functioning of companies.

"Development arising due to the spread of the virus warrants the need for temporary relaxation in compliance requirement of listed entities," Sebi noted.

TCI EXpress risies 5%

3: 10 PM

Shares of TCI Express touched an intraday high of Rs 635.75, rising 9.19% on BSE after the company submitted a regulatory filing today, announcing that it is implementing various preventive measures in line with guidelines issued by the government healthcare departments and continues to take various precautionary measures to contain the outspread. The stock rose from the intraday low of Rs 504.5, dwon 13.35%.

We are also taking due precautions across our sorting centers, vehicles, branches and offices.The direct impact of Coronavirus on our business and operations is expected to be very limited, the company added.

"Our business fundamentals remain robust with diversified client base and industry presence. Furthermore, we are engaged in the transportation of intermediate parts and products such as spare parts in case of Automobiles, API's in case of Pharmaceuticals, which are not impacted by short term demand fluctuations from the end consumer,"it added further.

Indices back in red

2:50 PM

In a volatile trading session of Thursday, market indices Sensex and Nifty have turned back to bearish territory. Sensex has fallen 220 points to 28,650 and Nifty has declined 40 points to 8,425.

Indices reverse trend on strong global cues

2: 20 PM

Reversing trend, market indices Sensex and Nifty have turned positive in a volatile trading session of Thursday. Sensex has risen 300 points to higher to 29,070 and NIfty has climbed 28 points to 9,500. European market opened on a positive note, with indices from France, Germany and FTSE bouncing back into bullish territory. US Future and Nasdaq Future too followed trend and turned green.

Dollar continues to stand tall amid tightening liquidity

2: 05 PM

The dollar resumed its relentless climb against major currencies on Thursday as wild financial market volatility and worries over tightening liquidity triggered by the coronavirus pandemic sparked an investor flight into cash. The greenback jumped 3% to an 11-year high versus the New Zealand dollar NZD=D3 and rose more than 3% against the Australian dollar AUD=D3 to a 17-year high.

Coronavirus pandemic: Dollar continues to stand tall amid tightening liquidity

Mutual funds add 3 lakh investor accounts in Feb

1: 55 PM

The mutual fund industry has added over 3 lakh investor accounts in February, taking the total folio tally to 8.88 crore. However, the number of folio count in debt oriented schemes dropped by 6 lakh to 61.88 lakh at February-end from 67.88 lakh at January-end.

Overall, mutual fund schemes witnessed an outflow of Rs 1,985 crore last month across all segments, mainly owing to withdrawal from liquid or money market segments.

Markets erase Rs 7 lakh crore wealth

1: 30 PM

Investors lost Rs 7 lakh crore in market wealth after Sensex and Nifty plunged over 6% in early trade today. Market cap on BSE fell to Rs 106 lakh crore compared to Rs 13 lakh crore market capitalisation on Wednesday.

The erosion in investor wealth came after Sensex lost 2,155 points intra day to 26,714 compared to the previous close of 28,869. Similarly, Nifty fell 636 points intra day to 7,832 compared to the previous close of 8,468.

Coronavirus effect: Investors lose Rs 7 lakh crore wealth in early trade

India ratings on YES Bank

1: 20 PM

India Ratings revised its rating watch for Basel III Tier 2 bonds and Infrastructure bonds of YES Bank to 'Evolving'. It has also withdrawn the AT1 Bonds Rating.

"The revision of the rating watch to evolving follows the systemic support Yes Bank has received recently in terms of both equity and liquidity from the new set of investors and the regulator for its reconstruction," the brokerage firm said.

India Ratings added that it has also considered the pressure that could show up on the liabilities once the regulator-imposed moratorium is lifted.

Coronavirus update

1: 10 PM

The Covid-19 infection cases have risen drastically outside China, hurting major economies and disrupting supply chains. There are currently 219,181 confirmed cases and 8,965 deaths from the coronavirus outbreak. Of these, 85,742 have recovered globally. The number of infected cases in India has increased to 169. The death toll from coronavirus in India has risen to 4 till Thursday.

Global indices

12: 55 PM

On Thursday, US Futures recovered partially from the intra-day lows. Where US Futures declined 1%, both UK and Germany Index bounced back into positive territory.

Losers today

12:50 PM

Bajaj Finance was the top loser, tanking up to 12 per cent, followed by HCL Tech, IndusInd Bank, Kotak Bank and M&M, while PowerGrid and NTPC were the only gainers.

TCS overtakes RIL to become most valued firm

12: 35 PM

TCS on Wednesday went past Reliance Industries Limited yet again to become the most valued Indian firm by market valuation.

At close of trade on the BSE, the market capitalisation (m-cap) of TCS was at Rs 6,19,499.95 crore, which is Rs 5,320.02 crore more than that of RIL's Rs 6,14,179.93 crore valuation. RIL shares witnessed selling pressure, falling 3.97 per cent to close the day at Rs 968.85. During the day, it tumbled 4.72 per cent to Rs 961.20.

IRCTC locks 5% lower

12:20 PM

Rs 1 lakh invested into IRCTC stock on February 25 would have turned to Rs 50,125 today, thanks to jitters from the coronavirus pandemic which have roiled global markets.

Share price of IRCTC was locked in lower circuit of 5% today after Indian Railways cancelled 433 trains yesterday as citizens avoid travel fearing spread of coronavirus pandemic. The stock opened at a loss of  5% at Rs 1,000.35 today.

IRCTC share reduces Rs 1 lakh investment to Rs 50,000 within a month, eyes issue price at bullet train speed

Rupee slips pat 75 per dollar

12: 10 PM

The Indian currency Rupee slipped past 75 per dollar on Thursday amid coronavirus uncertainty and traded 85 paise or 1.15% lower at 75.11 per USD.

Rupee hits record low of 75.11, loses 85 paise to dollar

Global market update

12:00 PM

Global equities took another beating Thursday as traders were worried that the world is heading for a virus-fuelled economic catastrophe. Global gloom over the Covid-19 pandemic continued to hammer equities, with US index S&P 500 falling 29% since the peak recorded on February 19, 2020. Indian equities have so far corrected nearly 32% from record highs seen in January this year.

NYSE to close temporarily as 2 people tested positive

11:45 AM

New York Stock Exchange will temporarily close its iconic trading floor in lower Manhattan and move to all-electronic trading beginning Monday as a precautionary step after two people tested positive for COVID-19. The trading floors of the NYSE and the NYSE American Options market in New York will be closed, as well as that of the NYSE Arca Options in San Francisco.

RBI OMO on March 20

11: 40 AM

The Reserve Bank of India (RBI) announced it will purchase up to Rs 10,000 crore of Government of India dated securities via an open market operation (OMO) on March 20. The central bank issued a statement on March 18 saying it will carry out the purchase through a multi-security auction using the multiple price method.

Spot Gold nosedives

11: 35 AM

Gold prices fell more than 1 per cent on Thursday in volatile trade, as investors sought to hoard cash in unstable market conditions despite additional measures from the European Central Bank to deal with the economic fallout from the coronavirus outbreak.

Spot gold slid 1.3 per cent to $1,466.20 per ounce by 0327 GMT after rising 1 per cent in early trade. The metal fell about 3 per cent on Wednesday along with other precious metals.

Coronavirus: Gold nosedives 1% as investors resort to cash stockpiling

Indices update

11: 25 AM

Where Sensex has declined 31% or 12,979 points from the beginning of the year, Nifty has declined 32% or 4,058 points.

In one month period, barometer Sensex and Nifty have fallen 32% and 30%, respectively.

Over the last week, BSE and NSE indices have fallen 13% and 14%.

ECB announces 750 billion euros Pandemic Emergency Purchase Programme (PEPP)

11: 20 AM

According to traders, European Central Bank's (ECB) EUR 750-billion stimulus package failed to lift investor sentiment, stoking the already-peaking fears of an economic recession.

Faced with a growing economic shutdown amid the new coronavirus (Covid-19) pandemic, the ECB on Wednesday announced a surprise EUR 750-billion scheme to purchase government and corporate bonds, as it joined other central banks in stepping up efforts to contain the economic damage from the new coronavirus (Covid-19).

Coronavirus update

11: 15 AM

The number of global Covid-19 infections has shot past 2,00,000. Worldwide fatalities topped 8,000. Cases in India rose to 169 on Thursday after 18 fresh cases were reported from various parts of the country, according to the Health Ministry.

Brent crude rises

11: 05 AM

Brent crude futures, the global oil benchmark, rose 1.73 per cent to USD 25.31 per barrel. Oil prices moved up significantly recovering recent losses triggered by economic stimulus from ECB to overcome expected economic slump.

FII/DII action on Wednesday

11: 00 AM

The steep decline in domestic equities and sustained foreign fund outflows further dampened the sentiment, traders said. Foreign investors remained net sellers in Indian capital markets as they pulled out more than Rs 5,085.35 crore on Wednesday, market data showed.

Rupee nears 75 per dollar mark

10: 45 AM

The rupee opened on a weak note at 74.96 at the interbank forex market, down 70 paise over its last close.

The Indian currency neared 75 per dollar mark as investors fretted over the sharp rise in coronavirus cases in the country and its impact on the economy.

Rupee slips 70 paise to 74.96 per dollar; nears record low of 75

Nifty falls 36% from lifetime high

10: 30 AM

NSE Nifty had hit its lifetime high of 12,430 on January 14, 2020. From there the index has fallen 36.9% to the new low of 7,832.55 in mere two months.

Indices hit new lows

10: 25 AM

Where BSE Sensex has hit a 38-month low of 26,714.46, while NSE Nifty 50 has breached 7,900 levels for the first time since December 2016 and further hit a low of 7,832.55 on Thursday.

Nifty falls 26% YTD

10:17 AM

NSE Nifty has fallen another 6% on Thursday's trade, taking the overall fall to 26% since the beginning of the year.

Market cap erosion crosses 8 lakh crore today

10: 15 AM

Overall 8 lakh crore worth of market capital has been lost in today's trade. Till yesterday, 32 lakh crore market cap had been erased in losses, which was near 14 lakh crore combining both January & February month of 2020. This makes a total Market capital erosion of 54 lakh crore from the markets.

YES Bank tanks 20%

10: 05 AM

YES Bank shares were trading almost 15% lower on Thursday after company's single largest promoter Madhu Kapur, the widow of its founder chairman Ashok Kapur, sold 2.5 crore bank shares in a block deal.Post this, her shareholding has reduced to 0.3 crore shares, worth 0.117% stake of the company.

Gainers today

9: 55 AM

In today's bloodbath, Power Grid, Emami, NTPC, Adani Trasmission and Adani Green were trading in green, rising in the range of 4-2% on BSE.

On NSE, top gainers included expect NTPC and Power Grid, all the other 50 stocks were declining in red.

Sensex, Nifty at new 52-week lows

9: 45 AM

BSE Sensex has hit a fresh 52-week low of 26714.46. Similarly, NSE Nifty too touched a new one year low of 7,832.55 as against the earlier hit of 8,407.05.

Bloodbath today

9: 42 AM

PowerGrid, NTPC were the only 2 green stocks on Sensex, with all thee other 28 stocks falling in red. On NSE Nifty, all the 30 scrips were trading in red

All sectors in red

9: 40 AM

With major declines today, all the sector-based indices are trading in red, with 7 to 8% drop in all the banking and financial scrips, followed by 6-5% fall in IT, media, FMCG and auto. Metal, pharma and PSU banks are falling around 3-4%.

Market extend losses

9: 30 AM

Sensex, Nifty lost over 6% within few minutes of Thursday's opening bell as investors were cautious on global markets taking a hit due to rising number of COVID-19 infections and deaths. Extending decline for the fourth straight session, Sensex sinked over 2,000 points to hit 26,750. Nifty hit a low of 7,800, falling 584 points against its previous close of 8,468 level.

Opening Bell

9: 15 AM

Benchmarks on Thursday dropped nearly 5%, tracking bearish market trend from overseas, with major sell-off registered in almost all sector-based indices. Extending fall for the fourth straight session, Sensex has fallen over 1,500 points to hit 27,320. Similarly, Nifty has hit a low of 8,000, falling 405 points as against its previous close of 8,400 level.

Alert

9: 10 AM

PM Modi to address nation at 8 PM today on coronavirus outbreak

Pre-open session

9:00 AM

At pre open session today, Sensex dropped 1,000 points, with Nifty nearing to 8,000 mark.

Stocks to watch today on March 19

8: 55 AM

NLC India, Dhanlaxmi Bank, PVR, Steel Strips among others are the top stocks to watch out for in Thursday's trading session

Stocks in news: NLC India, Dhanlaxmi Bank, PVR, Steel Strips and more

ECB kicks off emergency bond purchase

8: 45 AM

In the latest move by a central bank to try to halt the spiraling economic and financial crisis sparked by the coronavirus epidemic, the European Central Bank kicked off a 750 billion euro ($820 billion) emergency bond purchase scheme after an unscheduled meeting on Wednesday.

Oil prices today

8: 40 AM

Brent crude was up $2.10, or 8%, at $26.98 a barrel after tumbling 13% on Wednesday in a third day of relentless selling.

Oil surges 20% due to coronavirus relief measures globally

Coronavirus update

8: 30 AM

The Covid-19 infection cases have risen drastically outside China, hurting major economies and disrupting supply chains. There are currently 219,181 confirmed cases and 8,965 deaths from the coronavirus outbreak. Of these, 85,742 have recovered globally. The number of infected cases in India has increased to 169. The death toll from coronavirus in India has risen to 4 till Thursday.

Coronavirus Live Updates: PM Modi to address nation on COVID-19 today

SGX Nifty down 4.3%

8:25 AM

SGX Nifty indicated a gap down start for the Indian markets today, as it fell 4.34% lower to 8,126.

China reports no new cases

8: 15 AM

In global cues, China hit new milestone in coronavirus, with no new cases of infections reported on Wednesday, marking a notable first in the province's months-long battle with the deadly virus. All the new cases involved people who had come to China from elsewhere, the government said.

Global Market scenario

8: 10 AM

Overseas equity markets trend was mostly in red, with Kospi index falling the most, at 6%, followed by 5% decline in Jakarta and Taiwan index. Hang Seng and SGX Nifty fell 4% each and Strait  Times fell 3%. Shanghai Composite and Nikkei were trading 1.3% and 0.75% lower, respectively.

In Europe, FAF fell 4%, while DAX and CAC fell over 5.5% and 5.9% respectively.

On Wall Street, Dow Jones Industrial Average fell 6.3%, the S&P 500 lost 5.18% and the Nasdaq Composite dropped 4.7%. The S&P 500 is now down about 29% from its Feb. 19 record closing high.

Tuesday's close

8:00 AM

Logging losses for the third straight session, benchmark indices Sensex and Nifty closed 5% lower on Wednesday's session, amid heavy selloff registered in banking scrips. Domestic market tracked negative cues from abroad as European indices and US futures slipped nearly 4% in red. Extending losses, Sensex closed near day's low, falling 1,709 points to 28,896 and Nifty50 ended at 8,468 mark, down 498 points to its previous close.

Corona carnage: Sensex ends below 29K, Nifty settles at 8,469; banking stocks lead losses

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