Sensex, Nifty close lower as India confirms new coronavirus cases
8 min read.Updated: 02 Mar 2020, 03:50 PM ISTIshita Guha
Barring IT, all Nifty sectoral indices ended in the red. Nifty Metal down 2.2%, Bank tumbles 0.96%, Media lost over 4%
BSE MidCap and SmallCap closed down 0.7-0.8%
Welcome to Mint live blog. Track this space for latest updates on stock market.
02 Mar 2020, 03:34:34 PM IST
Sensex erases all gains, ends down 153 points
Having risen 1,300 points, Sensex gave up all gains and closed lower for the day as the government reported two new cases of coronavirus in Delhi and Telangana. Today, markets had recovered marginally from Friday's losses on hopes that central banks across the world will take coordinated monetary policy actions to mitigate the impact of coronavirus outbreak. After touching an intraday high of 39,083 points, the index ended 0.4% down at 38,144.02 points. Nifty slipped below 11,200.
02 Mar 2020, 03:26:07 PM IST
All sectoral indices, except IT, trade lower on Nifty
02 Mar 2020, 03:23:10 PM IST
Man Industries bags export orders worth ₹450 crore
The company has received new export orders of approximately ₹450 crore. With this, the total unexecuted order book of the company stands around ₹2,000 crores. The company plans to execute the pending orders in the next eight-to-nine months.
02 Mar 2020, 03:03:06 PM IST
Bank of Baroda to raise ₹600 crore
State-owned Bank of Baroda has approved raising funds worth ₹600 crore through Basel III-compliant additional tier I bonds in single or multiple tranches.
02 Mar 2020, 02:45:15 PM IST
Nifty rises 1.6% to 11, 376 points
Eicher Motors, HCL Technologies, ICICI Bank, HDFC Bank, JSW Steel, Nestle India and Infosys contributed the most to the gains.
02 Mar 2020, 02:42:31 PM IST
First confirmed case of coronavirus in Delhi
02 Mar 2020, 02:38:55 PM IST
Eicher Motors climb up over 6% on Royal Enfield sales
Shares of Eicher Motors advanced more than 6% on the BSE after the company reported a 1% year-on-year rise in sales under its motorcycle brand Royal Enfield to 63,536 units for February.
02 Mar 2020, 02:19:20 PM IST
BSE SmallCap inches higher, up 1.6%
02 Mar 2020, 02:13:33 PM IST
Benchmark European indices up 1.7-2.6%
Like Asian shares, key European stocks traded higher. FTSE 100 index on the London Stock Exchange gained more than 2.5%, France's CAC 40 also rose 1.9%, while the bluechip index Dax in Germany fell nearly 1.7%.
02 Mar 2020, 02:09:09 PM IST
European markets open sharply higher
Key European indices jumped at open as investor sentiment was buoyed by promises of a coordinated global monetary policy response to mitigate the economic impact of the coronavirus outbreak.
02 Mar 2020, 01:58:18 PM IST
IOC, others cut jet fuel prices by over 11%, IndiGo shares up 3%
Indian Oil Corporation has cut prices of aviation turbine fuel or jet fuel in Delhi to ₹56,859/kl from ₹63,449 earlier.
02 Mar 2020, 01:54:03 PM IST
India VIX or volatility index down 8.19% at 21.6 points
Fear gauge India VIX was down 8.19% after markets partly recovered from Friday's losses due to hopes of global liquidity.
02 Mar 2020, 01:54:03 PM IST
Fitch cuts India's economic growth forecast to 4.9% for FY20
Fitch Solutions has cut its forecast for India's economic growth to 4.9% for the current fiscal ending 31 March, saying that manufacturing could come under pressure from weak domestic demand and supply chain disruptions due to the spread of coronavirus worldwide.
02 Mar 2020, 01:30:06 PM IST
NMDC February production marginally down
State-owned mineral producer NMDC's iron ore production fell a marginal to 3.24 MT from 3.34 MT in the same month last year. Sales during February also declined to 2.91 MT from 3.54 MT a year ago.
02 Mar 2020, 01:14:17 PM IST
Hero MotoCorp hits 52-week low
Two-wheeler market leader Hero MotoCorp on Friday reported a 1.96% decline in total sales to 6,17,215 units for February. The company had sold 6,29,597 units in the same period last year. In the first two months of the current quarter ending March, there has been a sequential pick-up in the demand, although still lower than expected. The stock was down 1.2% at ₹2,023.85 on the BSE.
02 Mar 2020, 01:02:33 PM IST
ICICI Bank hits 52-week high
Shares of the private lender touched a 52-week high today on the BSE, trading 4.3% higher at ₹517.25. The stock was also among the top gainers of the Nifty 50 index.
02 Mar 2020, 12:52:03 PM IST
BSE MidCap index holds earlier gains
Unlike the BSE MidCap index that rose 1.25%, few of its constituents Federal Bank, Exide Industries, Amara Raja Batteries, TVS Motor, Muthoot Finance, Tata Chemical, Tata Power and Oil India were in the red.
02 Mar 2020, 12:38:11 PM IST
Most Sensex stocks up; Axis Bank, Bajaj Auto tumble
02 Mar 2020, 12:34:57 PM IST
Mindtree appoints Dayapatra Nevatia as COO
IT services provider Mindtree has appointed Dayapatra Nevatia as its chief operating officer (COO) effective from today. Shares rose 1.6% on the BSE.
02 Mar 2020, 12:31:08 PM IST
Bharti Airtel rises nearly 1.5%
Shares of the telecom operator advanced 1.5% to ₹531.50 on the BSE. After completion of self assessment, the company said it owes a total of ₹13,004 crore to department of telecommunications (DoT). Earlier this month, Airtel had paid ₹10,000 crore to the DoT. The company has now paid its balance dues of ₹3,004 crore. In addition to ₹13,004 crore, Bharti Airtel has also paid ₹5,000 crore as “an ad hoc payment subject to subsequent refund/adjustment" to cover differences arising from the reconciliation exercise with the DoT.
02 Mar 2020, 12:21:02 PM IST
Power ministry rejects stake sale in PFC, NTPC, Power Grid
The finance ministry has accepted power ministry's reservations against stake sale in NTPC, PFC and Power Grid Corporation. The ministry has accepted that the proposed stake sale is not possible, television news channel CNBC TV18 said, quoting news agency NewsRise.
02 Mar 2020, 12:11:32 PM IST
Yes Bank marginally higher at ₹34.75
Shares of the private lender were up a marginal 0.6% on the BSE. The government and Reserve Bank of India (RBI) are considering all options, including an interim bailout of the bank, in case the proposed $2 billion fundraising gets more delayed, according to a Mint report.
02 Mar 2020, 12:05:03 PM IST
NBCC bags order worth ₹64.83 crore from BHEL
State-owned construction firm NBCC (India) has bagged an order from Bharat Heavy Electrical (BHEL) to construct three 150-meter high reinforced concrete single steel flue chimney of 660 MW each at north Karanapura in Jharkhand. The total cost of the project is ₹64.83 crore.
02 Mar 2020, 12:01:18 PM IST
Airtel, Tata Tele's self-assessment of AGR dues sets stage for another battle
After Tata Teleservices, Bharti Airtel self-assessment of adjusted gross revenue (AGR) dues threw up a vastly lower number. Airtel’s assessment pegs the dues at ₹13,000 crore and do not see them exceeding ₹18,000 crore. This is almost half the amount ( ₹35,300 crore) demanded by the government. Similarly, Tata Tele says it owes a fraction ₹14,000 crore what the government is demanding. Based on self-assessment it paid ₹2,197 crore. Vodafone Idea Ltd is yet to release its self-assessment figures.
02 Mar 2020, 11:54:49 AM IST
Crisil rates Ujjivan Small Finance Bank CDs A1+
Ratings agency Crisil has reaffirmed A1+ for Ujjivan Small Finance Bank's certificate of deposits (CDs) worth ₹2,500 crore.
02 Mar 2020, 11:33:03 AM IST
BSE SmallCap uup nearly 1.5%
02 Mar 2020, 11:24:29 AM IST
Top Nifty 50 gainers and laggards
HCL Technologies, ICICI Bank, Eicher Motors, Infosys and Coal India were the top gainers, while Bajaj Auto, GAIL (India), Kotak Mahindra Bank and Bajaj Finance led the losses on the Nifty.
02 Mar 2020, 11:18:24 AM IST
BSE MidCap rises 1.21%
02 Mar 2020, 11:16:42 AM IST
Ashok Leyland February total vehicle sales down 37% YoY
Ashok Leyland reported a 37% year-on-year decline in total vehicle sales, including domestic and exports, to 11,475 units for February. Sales of medium and heavy commercial vehicles (M&HCV) fell 45% to 7,368 units.
02 Mar 2020, 11:03:01 AM IST
Indiabulls Housing soars nearly 14% after RBI clean chit
Shares of Indiabulls Housing Finance jumped nearly 14% on the BSE after the company on Saturday said the Reserve Bank of India, in an affidavit, has absolved the company of all charges of financial irregularities.
02 Mar 2020, 10:38:03 AM IST
CARE rates Welspun Corp's NCDs at AA
Ratings agency CARE revised the rating for secured redeemable and non-convertible debentures (NCDs) of Welspun Corp to AA from AA- with a stable outlook.
02 Mar 2020, 10:25:03 AM IST
Bajaj Auto declines over 1%; top Nifty laggard
Shares of Bajaj Auto slumped more than 1% in early deals after the auto company said its total domestic sales, including that of two-wheeler and exports, fell 24% year-on-year in February to 2,21,706 units.
02 Mar 2020, 10:08:28 AM IST
Affle India jumps nearly 5% on BSE
Shares of Affle (India) climbed up nearly 5% on the BSE after the company on Friday announced it has signed a definitive agreement to acquire Spain-headquartered Mediasmart, a self-serve mobile programmatic and proximity marketing platform.
02 Mar 2020, 10:04:35 AM IST
All Nifty sectoral indices up; Nifty Metal gains most
02 Mar 2020, 09:54:18 AM IST
Bajaj Auto total domestic sales down 24%
Bajaj Auto's total domestic sales, which include two-wheelers and commercial vehicles (CV), saw a year-on-year decline of 24% to 2,21,706 units in February. However, exports during the month rose 9% YoY.
02 Mar 2020, 09:47:34 AM IST
State Bank of India gains 2.18%
Shares of India's largest public-sector bank advanced over 2% as its credit card subsidiary SBI Cards opens for subscription today.
02 Mar 2020, 09:35:18 AM IST
Mahindra & Mahindra tumbles nearly 2%
The auto company reported a 58% year-on-year (YoY) fall in its passenger vehicle (PV) sales for February as it lowered its production of BS-IV compliant units due to difficulty in procuring parts and components from China, the starting point of the coronavirus outbreak.
02 Mar 2020, 09:32:20 AM IST
ICICI Bank, Zee Entertainment, RIL top Nifty gainers
02 Mar 2020, 09:25:51 AM IST
Most Sensex constituents up; Kotak Bank, M&M slip
02 Mar 2020, 09:05:55 AM IST
Rupee opens higher
Indian rupee opened marginally higher against the US dollar at 72.07 against 72.18 in close on Friday.
02 Mar 2020, 08:59:26 AM IST
Indian stocks that may be in focus today
State Bank of India's credit card subsidiary SBI Cards will open for subscription today to raise over ₹10,000 crore. Bharti Airtel, Tata Motors, Maruti Suzuki, Reliance Industries, GMR Infrastructure and Mahindra & Mahindra will be other stocks to watch.
02 Mar 2020, 08:54:14 AM IST
Asian stocks snap last week's losing streak
On Monday, almost all Asian equities traded higher in early deals. Some benchmark stocks had plunged as much as 10% last week due to fears that cornonavirus may impact global trade and economy. Today, Japan's Nikkei 225 was up 1.1%, while Hang Seng index in Hong Kong traded 0.70% higher. Shanghai Composite index in China jumped 2.7%.
02 Mar 2020, 08:49:39 AM IST
US Fed says it will act if coronavirus spread worsens
The US Federal Reserve chair Jerome H. Powell on Friday issued a statement reaffirming markets and investors that the central bank will use its tools and “act as appropriate to support the economy."
02 Mar 2020, 08:45:11 AM IST
Benchmark global stocks fall over 10% last week
In the US, S&P 500 slipped 11%, while Dow Jones lost 12%. FTSE 100 in the UK tumbled 11% and DAX in Germany plunged 12%. Among Asian stocks, KOSPI in South Korea declined 8% in the previous week, Hong Kong's Hang Seng Index was down 4% and Nikkei 225 in Japan 10%.
02 Mar 2020, 08:38:20 AM IST
Global stocks see worst week since financial crisis
The sell-off was triggered by concerns that measures to contain Covid-19, commonly known as coronavirus, would dent corporate profits and global economic growth. Investors fear that the disease, which started in the world's second largest economy China, could get worse. Global benchmarks indices witnessed extreme pessimism during the week.