Share Market Update: Broader market indices took bearish cues from overseas trend and crashed 3% on Friday, amid a rise in cases Covid-19 infections in 6 continents, barring Antarctica. While Sensex ended 1,448 points lower at 38,297 and Nifty fell down 414 points at 11,219. Sensex made a low of 38,551.54, while Nifty fell to 11,291.90. Following a broad-based fall, 29 out of 30 constituents on BSE Sensex and 48 out of 50 scrips from NSE Nifty closed in the red. In terms of sector-based decline on NSE, Nifty metal fell the most, dropping 7.3%, followed by a 5.25% fall in IT. Media, and PSU Bank fell 4.9% each, while pharma, financial services, auto, banking closed 3% lower. China - where the virus originated late last year - reported 327 new cases on Friday, the lowest since January 23 but new infections around the world forced investors to selling heavily in expectation of a global recession. While majority of cases and deaths remain centred in China, the virus has been reported for the first time in South America, making every other continent except Antarctica now infected by its outbreak.
Here's a look at the live updates of the market action today:
3: 45 pm: Market indices took bearish cues from overseas trend and crashed 3% on Friday, amid a rise in cases Covid-19 infections in 6 continents, barring Antarctica. While Sensex ended 1,448 points lower at 38,297 and Nifty fell down 414 points at 11,219. Sensex made a low of 38,551.54, while Nifty fell to 11,291.90. Following a broad-based fall, 29 out of 30 constituents on BSE Sensex and 48 out of 50 scrips from NSE Nifty closed in the red. In terms of sector-based decline on NSE, Nifty metal fell the most, dropping 7.3%, followed by a 5.25% fall in IT. Media, and PSU Bank fell 4.9% each, while pharma, financial services, auto, banking closed 3% lower.
3: 20 pm: With yet another fall in this week, Nifty has declined 6%, where the worst-hit has been taken by Vedanta, that has erased 18.5% value, followed by 16% drop in Hindalco, 16% in Tata Motors, 15% in JSW Steel and 13% in Tata Steel.
3: 10 pm: Past few weeks have been heavy on gloal equities since the death toll of Covid 19 infections rose above the mortality rate of SARS epidemic of the year 2002. The reported numbers crossed outbreaks that occurred in Hong Kong, China and Singapore in comparison the SARS as well.
3:00 pm: Top stocks with heavy volume traded today were YES Bank, IRCTC, SBI, Vodafone Idea, Reliance, Tata Motors, Indiabulls Housing Finance, HDFC Bank, Larsen and Toubro and ITC. They were also are among the top trending stocks on BSE Sensex.
2: 45 pm: Vedanta, Tata Motors, Tata Steel, YES Bank, Hindalco and Infosys were the top losers on NSE Nifty today. On the other hand, Future Consumer, Allahabad Bank, GMR Infrastructure, Dish TV and Vedanta were the top losers on BSE.
2: 20 pm: Commenting on today's market crash from Mr. Santosh Meena, Senior Analyst, TradingBells said, "It is a brutal fall on Dalal street on the back of mayhem in global markets amid rising worries of Coronavirus. The momentum of new cases in China is coming down but the number of cases outside China are rising sharply. Equity markets are falling sharply as fear of recession is rising where investors are looking for safe-haven instruments like Yen, US bonds and Gold. It is still difficult to predict the extent and impact of Coronavirus but the equity markets are in critical condition and they are looking for some positive triggers on the front of Coronavirus for any kind of respite. "
"Technically, 11200-11100 is a sacrosanct support area for the Nifty and there is a good chance that Nifty may stabilize here and bounce back towards 11700 level," he added further.
1: 55 pm: World Health Organization officials said the COVID-19 virus could become a pandemic as the outbreak spreads to major developed economies and warned that failure to prepare for coronavirus now 'could be a fatal mistake'.
1:50 pm: Foreign institutional investors (FIIs) continued to be sellers for the fourth straight day. FIIs remained net sellers in the capital market, as they sold shares worth Rs 3,127.36 crore on Thursday, according to provisional exchange data. FIIs sold shares worth Rs 3,336.60 crore on Wednesday, Rs 2,315.07 crore on Tuesday and Rs 1,160.90 crore on Monday in the capital market.
1: 45 pm: The viral outbreak that originated in China has now has now spread to six of the world's seven continents infecting more than 80,000 people.
While majority of cases and deaths remain centred in China, the virus has been reported for the first time in South America, making every other continent except Antarctica now infected by its outbreak.
Death toll in China has now crossed 2,700 though new cases in the country are falling. In Italy, 320 have been infected, while number stands at 139 cases in Iran, 22 cases in Australia, 59 in America. Algeria and Egypt have reported first cases each today.
1: 30 pm: Gold price rose in the commodity market as investors rushed to safe-haven assets upon the number of rising coronavirus cases, that are showing signs of hurting global growth. On the Multi Commodity Exchange, Gold April 2020 Futures spurted by another Rs 65 or 0.15% to a record high of 42,450 per 10 gm.
1: 20 pm: Stocks that have 52- week low on NSE Nifty today are ITC, ONGC, Hero MotorCorp, Wipro, L&T, Hindalco and Vedanta.
12: 55 pm: Commenting on the markets trend today, Umesh Mehta, Head of Research, Samco Securities said, "D-Street is also a victim of the virus outbreak in other countries as this pandemic has led to indices across the globe witness a sharp fall this week."
"However, when the entire world is blaming coronavirus for the fall, we feel that valuations have a big part to play in this bearishness," he added and continued that the domestic bourses have been trading around higher valuations and hence a correction was needed to align the markets as per the mean reversion theory.
12: 45 pm: India VIX, the measure of markets expectation of volatility over the near term, surged 24.43% to 22.105 points in opening trade on NSE.
12: 35 pm: In this week, where Nifty has declined 6%, the worst-hithas been taken by Vedanta, that has erased 18.5% value, followed by 16% drop in Hindalco, 16% in Tata Motors, 15% in JSW Steel and 13% in Tata Steel.
12: 25 pm: MSCI all-country world index fell 0.3% after 3.3% drop on Thursday. In Asia, MSCI's regional index excluding Japan shed 1.4%.
12: 10 pm: In terms of sector-based decline on NSE, Nifty metal fell the most, dropping 5.25%, followed by a 4.6% fall in media. IT, PSU bank and realty fell 3.5% each, while pharma, financial services, FMCG declined around 2-3%.
12:00pm: China, Japan and South Korea all posted heavy losses. Japan's Nikkei gave up 3.3% on rising fears of Olympics cancellation due to the coronavirus, while South Korean shares shed 2.1%.
11: 45 am: Following a broad-based fall, 29 out of 30 constituents on BSE Sensex and 48 out of 50 scrips from NSE Nifty traded in the red.
11: 30 am: Sensex has erased 3.50% in one week, 3.40% in one month and 6.43% year-to-date. Nifty has fallen 3.70% in one week, 4% in one month and 7.15% year-to-date.
11:15 am: On BSE, Lemon Tree (6%), Akzo Nobel 0.87% and DHFL (5%) were the top three gainers.
11: 00 am : Market extends losses. Sensex falls 1,194 points to 38,551 in early trade compared to the previous close of 39,745. Nifty too plunged 364 points to 11,269 against its previous close of 11,633.
10: 22 am : Bajaj Finance share tanks 10% or 445 points to 4,315.
10: 20 am: Oil prices fell for the sixth straight session on Friday and were on track for about a 12% weekly fall, the biggest in more than four years, as the spread of the coronavirus outside China raised fears of slowing global demand.
10: 15 am : "The coronavirus now looks like a pandemic. Markets can cope even if there is big risk as long as we can see the end of the tunnel," said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities. "But at the moment, no one can tell how long this will last and how severe it will get," Fujito told Reuters.
10:14 am: On Nifty, Tata Motors (9.05%), Tata Steel (8.56%) , and Vedanta (6.86%) were top losers.
10: 05 am: Rupee opens 38 paise lower at Rs 71.93 against dollar compared to previous close of Rs 71.55.
10:00 AM: India VIX rose 22.30% signalling heightened volatility in the market.
9:51 am : Sensex falls 1,164 points to 38,581, Nifty loses 350 points to 11,285.
9: 50 am: On a net basis, foreign portfolio investors (FPIs) sold shares worth a net of Rs 3,127 crore on Thursday , and domestic institutional investors (DIIs) were net sellers to the tune of Rs 3,497 crore, provisional data available with BSE showed.
9: 50 am : All 19 BSE sectoral indices were trading in the red.
9: 45 am: Banking stocks were the top losers followed by BSE auto down 567 points and BSE IT index falling 571 points.
9: 44 am: Bank Nifty crashes 763 points to 29,418. BSE bankex loses 846 points to 33,834.
9:30 am: The Dow Jones Industrial Average lost 1,190.95 points, its largest one-day point drop in history, bringing its loss for the week to 3,225.77 points, or 11.1%. The benchmark S&P 500 index was down more than 4% on Thursday. In Asia, Tokyo's Nikkei 225 tumbled to 26,157.36 while the Shanghai Composite Exchange lost 2.9% to 2,904.92. Hong Kong's Hang Seng lost 2.3% to 26,157.36. The Kospi in Seoul fell 2.2% to 2,007.89 and Sydney's S&P-ASX 200 sank 2.3% to 6,502.6. New Zealand and Southeast Asian markets also retreated.
9: 19 am : Tata Steel (7.58%), Bajaj Finance (5.11%) and Tech Mahindra (4.50%) were the top Sensex losers .
9: 18 am: On Thursday, 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.
9: 17 am: Mid cap and small cap indices were trading 384 points and 388 points lower in early trade.
9: 16 am : Market breadth was negative with 113 stocks trading higher compared to 1028 falling on BSE.
9:15 am : Sensex falls 1,000 points to 38,739 with all components in the red, Nifty lost 290 points to 11,343 in early trade.