Share Market Update: Equity market indices Sensex and Nifty recovered from early declines to close 0.40% lower each, backed by heavy selling pressure in media, realty and metal stocks. Backed by all the sector-based-indices ending in red, barring pharma, BSE 30-share S&P Sensex closed 143 points lower at 39,745 and NSE 50-share index Nifty50 closed 45 points lower to 11,633. Domestic indices tracked volatility from global equities due to rising concerns over coronavirus epidemic outside China and on worries over its impact on the global economy. The CDC also warned Americans to brace for a possible coronavirus pandemic that drove another Wall Street tumble and pushed yields on safe-haven Treasuries to record lows. Traders said market is also likely to be bearish on the Futures and Options expiry day. Besides this, market is expected to be volatile as investors will also keep a watch on GDP numbers and eight core industries January YoY data, that will be released tomorrow.
Here's a look at the live updates of the market action on BSE and NSE today:
4: 00 PM
Commenting on the market's bearish trend, Vinod Nair, Head of Research at Geojit Financial Services said, "Domestic & Global equity market got impacted by weak expiry of monthly F&O and selling in the global market due to the spread of new coronavirus cases in some parts of the world. Till last week the market was of the view that coronavirus is going to have only a minimum impact on global economy as situation in China was being contained. But an increase in the number of new cases is changing the view and there are fears of some slowdown in the economy."
3: 45 PM
Equity market indices Sensex and Nifty recovered from early declines to close 0.40% lower each, backed by heavy selling pressure in media, realty and metal stocks. Backed by all the sector-based-indices ending in red, barring pharma, BSE 30-share S&P Sensex closed 143 points lower at 39,745 and NSE 50-share index Nifty50 closed 45 points lower to 11,633.
3: 20 PM
The equity market indices Sensex and Nifty recovered from early declines to trade 0.40% lower each, backed by heavy selling pressure in media, realty and metal stocks, with all the sector-based-indices trading in red, barring pharma. BSE Sensex fell 150 points lower at 39,745 and NSE Nifty traded 48 points lower at 11,630.
2: 50 PM
Brent Crude oil has hit its fresh 52 week low today of $52.53 per barrel.
52-week lows today
1: 45 PM
Mahindra & Mahindra, Rico Auto, Larsen a& Toubro, Tata Power, LIC Housing Finance, Just Dial, IndusInd Bank, Indian Oil Corp, Hindalco Industries, Hero MotoCorp, GSFC, GAIL, Canara Bank have hit 52-week low in today's trade.
More than 40 countries and regions outside mainland China have reported infections. On Wednesday, cases were detected for the first time in Brazil, Pakistan, Norway, Greece, Romania and Algeria.
Indigo shares decline for fourth straight day
12: 50 PM
A preliminary probe by markets regulator Sebi has suggested prima-facie violations of corporate governance and listing disclosure norms in certain related party transactions involving budget carrier IndiGo's parent firm InterGlobe Aviation Ltd, sources said.
However, on Wednesday once again IndiGo refuted all charges of corporate governance and listing disclosure norms in certain related party transactions. IndiGo Whole Time Director and CEO Ronojoy Dutta said it has not received any communication from Sebi regarding any outcome of any preliminary enquiry by the regulator. "Further, IndiGo strongly denies any allegations of wrongdoing or avoidance of processes. It reiterates that it has strong processes for ensuring arm's length dealings with related parties and that such transactions were entered into in the ordinary course of business and were in the best interests of IndiGo," he said in a statement.
Shares of IndiGo have declined 1.9% today to trade at Rs 1,367.50 on BSE.
Jubilant Life Sciences climb almost 2%
12: 32 PM
Jubilant Life Sciences' board has declared interim dividend of Rs 5 for FY20. The stock price of the company stands 1.9% higher at Rs 519 on BSE today.
SEBI to allow investors deal in MF through bourses
12: 30 PM
The markets regulator Securities and Exchange Board of India (Sebi) on Thursday said it has has asked stock exchanges to allow investors to directly access their platform in order to buy and sell mutual funds.
"In order to further increase the reach of the platform, it has been decided to allow investors to directly access infrastructure of the recognised stock exchanges to purchase and redeem mutual fund units directly from MutualFund/ Asset Management Companies," the regulator said in a press release.
CRISIL on Coronavirus
12: 25 PM
CRISIL in its recent report on the deadly novel coronavirus (n-CoV) epidemic believes n-CoV's impact for India will be a mixed bag.
"With the weather getting warmer over the next two months, we expect the impact of the outbreak to subside in China by April 2020. That is the base case. In the worst case, the epidemic might well extend through the first quarter of fiscal 2021, intensifying the severity of impact. If not contained quickly, the epidemic will have a knock-on effect in the world economy and disrupt global supply chains. China is the world's second largest economy and a major trade partner for many countries, including India," CRISIL added in its report.
12: 20 PM
Easing oil prices haunted by the deadly virus spread and RBI's announcement of two long term repo operations supported the Indian currency that closed higher for a second day. RBI in its official press release said,"Tt has now been decided that all new floating rate loans to the Medium Enterprises extended by banks from April 01, 2020 shall be linked to the external benchmarks."
Oil prices today
12: 20 PM
Oil prices fell for the fifth consecutive day as more coronavirus cases were reported in Asia, Europe and Middle East raising concerns over crude demand. Decline in gas prices will be beneficial for listed companies from sectors such as oil marketing companies (OMCs), paints, fertilisers, power and airline carriers. Brent Crude, the global oil benchmark, traded at $52.8 per barrel, down 1.10% today.
FII declines for third straight day
12: 15 PM
Foreign institutional investors continued to be sellers for the third straight day. FIIs remained net sellers in the capital market as they sold shares worth Rs 3,336.60 crore on Wednesday, according to provisional exchange data. FIIs sold shares worth Rs 2,315.07 crore on Tuesday and Rs 1,160.90 crore on Monday in the capital market.
Revenue de-grew for Nifty by 1% in Q3 FY20
12: 10 PM
Commenting on Nifty Results Q3 FY20, Edelweiss in its report said that revenue de-grew for Nifty by 1% as against estimates of growth of 4% as Broad based slowdown ,sluggish domestic demand and weak export orders translated to weak top line growth. Sectors which contributed the most to Nifty earnings were Banks, IT and Infra. Corporate banks contributed most to the profitability the report further said.
RITES share price slumps over 5%
12: 00 PM
RITES share price fell in early trade today amid the ongoing offer for sale by the government. Share price of RITES lost up to 5.67% to Rs 300 compared to the previous close of Rs 318.05 on BSE. The PSU stock opened 4.42% lower at Rs 304 today. Market capitalisation of the firm fell to Rs 7,532 crore. However, the mid cap stock has gained 66.17% during last one year and 3.8% since the beginning of this year.
11: 50 AM
Domestic market extended the fall for the fifth consecutive trading session today. BSE Sensex has lost 1,793 points or 4.34%, while NSE Nifty has dropped 4.6% since the closing of February 19, 2020.
Cipal top loser today
11: 40 AM
Cipla shares were the top losers for the second consecutive day on NSE after the pharma major informed the exchanges about the Goa manufacturing facility inspection conducted from 16-27 September 2019 by the United States Food and Drug Administration (USFDA) and said it has received a warning letter from USFDA. today, share price of Cipla were tradinfg 3% lower at Rs 409.20.
11: 30 AM
Sectorally, all indices were trading in red. Nifty realty was falling 2.55%, with media and metal each declining over 2%, followed by near 1.5% decline on IT, auto, PSU bank and financials indices.Rupee today
The Indian rupee appreciated by 5 paise to 71.60 against the US dollar in early trade on Thursday amid easing crude oil prices and weakening of the greenback in the overseas market. At the interbank foreign exchange the rupee opened at 71.65 then gained further ground and touched a high of 71.60, registering a rise of 5 paise over its previous close. On Wednesday, rupee had settled for the day at 71.65 against the US dollar.
10: 35 AM
The virulence of the novel coronavirus continues to show a declining trend in China which reported 29 new fatalities, the lowest in weeks, taking the death toll to 2,744 while the confirmed cases climbed to 78,497, officials said on Thursday.
As per US Centers for Disease Control and Prevention, the US has 60 confirmed coronavirus cases, and added that the number is expected to grow.Gas prices in India expected to get slashed by 25% from April
10: 30 AM
Reduction in natural gas prices in India, in line with global prices, is expected to boost the business of city gas distributors (CGDs), fertiliser manufacturers and power generation companies, besides driving gas consumption in the domestic market. Gas prices in India are expected to get slashed by 25 per cent from April. In the next two revisions, which will fall in April and October, the price is expected to be cut by 45 per cent to 10-year low of $2 a million British thermal unit (MBtu).
Decline in gas prices will be beneficial for listed companies from sectors such as Oil Marketing Companies (OMCs), paints, fertilisers, power and airline carriers.
Market drops nearly 1%
10: 20 AM
On February Futures and Options expiry day, equity market benchmark Sensex and Nifty dropped nearly 1%, tracking global sell-off on Thursday amid coronavirus epidemic that weighed on investor sentiments. BSE 30-share S&P Sensex traded 400 points lower at 39,530 and NSE 50-share index Nifty50 fell 112 points lower to 11,565. All indices were trading in red, with 2.8% decline in realty and 2% fall in media scrips.
FII/DII action on Wednesday
10: 15 AM
On a net basis, foreign institutional investors sold equities worth Rs 3,336.60 crore, while domestic institutional investors bought shares worth Rs 2,785.67 crore on Wednesday, data available with stock exchanges showed.
Global market update
10: 10 AM
Asian shares fell on Thursday following US trend, with stock exchanges in Hong Kong, Seoul and Tokyo were trading with losses, while bourses in Shanghai were positive. SGX Nifty traded at 11,755, down 63 points or 0.53%.
Equities in the US too ended on a tepid note on Wednesday, as the stocks continued their sharp two-day sell-off. The US Centers for Disease Control and Prevention warned Americans to brace for a possible coronavirus pandemic that drove another Wall Street tumble and pushed yields on safe-haven Treasuries to record lows. US Futures (Dow Jones) traded at 27,314, up 197 points or 0.73%.
10: 06 AM
According to analysts, intense spread of coronavirus is pushing investors away. There is sharp foreign fund outflow led by strong dollar index, as investors reduce their exposure to emerging markets amid global uncertainty.
Sensex pack losers and gainers
10: 05 AM
Top losers in the Sensex pack included HCL Tech, HDFC Bank, TCS, M&M, IndusInd Bank, Sun Pharma, ICICI Bank and Reliance Industries. On the other hand, Titan, NTPC, Nestle India and Kotak Bank were trading with gains.
TVS Motor falls almost 2%
TVS Motor announced today that the auto major has entered into partnership with Honduras-based co Motomundo SA, in a move to further consolidate company's presence in South America.
Motomundo SA will facilitate the sales and service of TVS products across all their stores in the country in a phase-wise manner, the filing added.
Currently the stock price TVS Motor is declining 8.20 points or 1.88% at Rs 427.10on BSE.
9: 55 AM
119 Indian nationals who were on board the Diamond Princess Cruise ship have been brought back in a special Air India flight. The flight has also delivered 15 tonnes of medical equipment. An IAF MCC C17 also evacuated 76 Indian & 36 foreign nationals from Wuhan.
9: 55 AM
The rupee appreciated 2 paise to 71.63 against the US dollar in morning session.
Brent Crude today
9: 50 AM
Brent Crude traded at $55.33 per barrel, up 0.69%.
Vodafone gains 2%
9: 40 AM
Ahead of the crucial meet of Digital Communications Commission (DCC) on the AGR issue, Vodafone Idea has reportedly written a letter to the government asking for adjustment of Rs 8,000 crore of Goods and Services Tax (GST) refund towards AGR dues. In addition, the telco has requested deferment of the AGR payment schedule. Vodafone Idea is also batting for reducing license fee from existing 8 per cent to 3 per cent, and spectrum usage charges (SUC) from about 3 per cent currently to 1 per cent.Today, shares of Vodafone are gaining 4% higher at Rs 4.20 on BSE.
SBI Card IPO
9: 30 AM
The initial public offering (IPO) of SBI Cards and Payment Services, credit card unit of the country's largest lender SBI, will be launched on March 2 at a price band of Rs 750-755 per share. SBI Cards IPO comprises issue of fresh equity worth Rs 500 crore for strengthening the company's capital base and offer for sale by promoters of up to 13 crore shares. With the IPO, SBI Cards will become the fifth company under the SBI Group to be listed on bourses.
9: 20 AM
Extending the fall for the fifth straight session, market indices Sensex and Nifty opened majorly bearish on Thursday, following overseas trend, amid across- sector based heavy sell-off. BSE 30-share S&P Sensex traded 250 points lower at 39,635 and NSE 50-share index Nifty50 fell 70 points lower to 11,607. All indices were trading in red, with 2% decline in realty and 1% fall in media scrips.
Stocks to watch today on February 27
State Bank of India, Ruchi Soya, D B Corp among others are the top stocks to watch out for in Thursday's trading session
8: 50 AMSensex and Nifty closed majorly bearish on Wednesday, following overseas trend, amid heavy sell-off in almost all sectors. BSE 30-share S&P Sensex closed 392 points lower at 39,888 and NSE 50-share index Nifty50 closed 119 points lower at 11,678. Domestic indices tracked volatility from global equities due to rising concerns over coronavirus epidemic outside China and on worries over its impact on the global economy. Traders said market is also likely to be bearish ahead of Futures and Options expiry.