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Share Market Update: Sensex ends 214 points lower, Nifty at 11,254; YES Bank top loser

Share Market Update: BSE 30-share S&P Sensex closed 214 points lower at 38,409 and Nifty50 ended 49 points lower at 11,254

twitter-logoBusinessToday.In | March 4, 2020 | Updated 16:59 IST
Share Market Update: Sensex ends 214 points lower, Nifty at 11,254; YES Bank top loser
Here's a look at the live updates of the market action on BSE and NSE today

Share Market Update: Equity market resumed selling streak and closed 0.55% lower on Wednesday as market sentiments turned negative upon rising number of COVID-19 infections in the country. Backed by heavy selling pressure in media, metal and banking stocks, BSE 30-share S&P Sensex closed 214 points lower at 38,409 and Nifty50 ended 49 points lower at 11,254. Domestic equity 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. Investors will also keep an eye on India & US Services PMI (February) data, scheduled to be released today. Where Sensex has taken an intraday swing of 660 points from day's high of 38,791.70 to the day's low of 38,131.60, Nifty has traded in the wide range of 195 points from day's high of 11,356 to the day's low of 11,160.

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. Besides incessant foreign fund outflows, domestic sentiments were negative in domestic grounds cases of coronavirus cases in India rose to 28, 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:

Closing bell

3: 45 PM

Equity market resumed selling streak and closed 0.55% on Wednesday, as market sentiments turned negative upon rising number of COVID-19 infections in the country. Backed by heavy selling pressure in media, metal and banking stocks, BSE 30-share S&P Sensex closed 214 points lower at 38,409 and Nifty50 ended 49 points lower at 11,254. Domestic equity 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.

Gold Update

1: 40 PM

Gold prices on Wednesday reversed trend and fell on MCX. It has marginally declined by Rs 46  to Rs 43,428. in a perios of one week, price of gold futures has risen by Rs 1,678 in the MCX commodity market.

Coronavirus update

2: 35 PM

"India has total 28 cases, including 17 Italians," the minister confirmed. He also said that all six patients in Agra have been tested positive for coronavirus. "Saliva is the primary carrier of infection followed by hand contact," the minister added.

SBI Card IPO over subscribed

2: 25 PM

The initial public offering (IPO) of SBI Cards and Payment Services received an overwhelming response from investors on the third day for subscription, in an otherwise weak secondary market condition. The offer was oversubscribed 3.48 times on the third day of the bidding process, with QIB portion subscribed as much as 10 times till now.

Market drops 1.92%

1: 45 PM

Equity market has dipped 1.93% on Wednesday, with Sensex dropping below 38,000 level and Nifty closing in to 11,000 mark. Barring pharma, all the other indices were trading in red, with major declines recorded media, metal and banking stocks.  BSE 30-share S&P Sensex traded 600 points lower at 38,015 and Nifty50 traded 195 points lower at 11,107.

Market Update

1: 20 PM

Where Sensex has taken an intraday swing of 660 points from day's high of 38,791.70 to the day's low of 38,131.60, Nifty has traded in the wide range of 195 points from day's high of 11,356 to the day's low of 11,160.

Market indices fall 1.2% each

1: 15 PM

Indices Sensex and Nifty have declined almost 1.2% each by Wednesday's afternoon session, with heavy buying pressure in IT stocks following rupee slipping below 73.50 per dollar. The sentiments were negative on domestic grounds after the number of COVID-19 cases were risen to 28 in the country.

Rupee weaknes further

1: 10 PM

Rupee weakens past 73.50 per US dollar by the afternoon session on Wednesday, trading lower for the first time since November 1, 2018.

Market Update

1:00 PM

Market indices Sensex and Nifty fell further on Wednesday, tracking mixed cues from global equities, amid heightened worries of COVID-19 virus outbreak. BSE 30-share S&P Sensex traded 350 points lower at 38,280 and Nifty50 traded 99 points lower at 11,200.

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 more

Global 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%.

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