Home > Markets > Live Blog > Sensex crashes 1,000 points, Nifty tests 8,800; Private banks worst performers
Photo: Aniruddha Chowdhury/Mint
Photo: Aniruddha Chowdhury/Mint

Sensex crashes 1,000 points, Nifty tests 8,800; Private banks worst performers

  • Barring IT, all Nifty sectoral indices ended deep in the red. Nifty Bank slumped nearly 7% followed by Nifty Auto, Metal and Media. BSE MidCap and BSE SmallCap fell 4% and 3%, respectively

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18 May 2020, 03:32:43 PM IST

Market closing

Bear stranglehold became stronger at the fag end of today's session in the Indian equity market. Key indices were largely dragged by private bank stocks, where IndusInd Bank slumped over 10%, and Axis Bank and HDFC sinked more than 7% each.

Unlike the pre-opening and SGX Nifty trends, domestic equities had started on a weak note and continued to extend losses through the day as announcements under the government's 20 trillion economic stimulus package failed to cheer investors.

While Sensex dropped 1,068.75 points, or 3.4%, to 30,028.98, Nifty 50 plunged 313.60 points, or 3.4%, to 8,823.25.

18 May 2020, 03:17:48 PM IST

Maruti Suzuki loses over 7%

India's largest vehicle maker resume manufacturing at its Gurugram plant today. It had restarted operations at the Manesar plant on 12 May. Shares of the carmaker fell 7.5% to 4,720 on the BSE.

18 May 2020, 03:13:12 PM IST

Top Nifty gainers, losers

Cipla, Tata Consultancy Services, Bharti Infratel, Infosys and Vedanta were among the top performers on Nifty 50, while shares of IndusInd Bank, Zee Entertainment, Eicher Motors, UltraTech Cement and Axis Bank fell the most.

18 May 2020, 03:11:02 PM IST

Sensex update: TCS, Infosys lone gainers

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18 May 2020, 03:08:20 PM IST

Nifty Bank worst performer

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18 May 2020, 03:06:38 PM IST

Asian stocks end higher

Major Asian shares pared early gains but managed to end in the green. Japan's Nikkei 225 rose 0.5%, while Hang Seng index in Hong Kong increased 0.6%. Shanghai Composite index in China settled 0.2% higher.

18 May 2020, 02:59:38 PM IST

Nifty Metal falls over 3%

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18 May 2020, 02:54:01 PM IST

Rupee ends lower

The Indian rupee ended 34 paise lower at 75.91 against the US dollar, compared to Friday's close of 75.57.

18 May 2020, 01:58:57 PM IST

Hotel stocks under pressure

Shares of hotels and hospitality chains traded lower as the government did not announce any measure for the sector in its 20-trillion economic stimulus package and prohibited hotels and restaurants from resuming operations in the fourth phase of the national lockdown that ends on 31 May.

18 May 2020, 01:52:57 PM IST

Nifty IT sole gainer among sectors

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18 May 2020, 01:28:56 PM IST

Gold price update

Gold advanced 1% on Monday to its highest in more than seven years as dismal US data underscored how badly the covid-19 pandemic has damaged the world's top economy, while palladium soared over 9% on better-than-expected demand outlook. Spot gold was up 1% at $1,759.13 per ounce by 0708 GMT, after rising to its highest since October 12, 2012, at $1,764.46 earlier. US gold futures gained 0.9% to $1,772.70.

18 May 2020, 01:19:32 PM IST

Praj Industries signs pact with Sweden's Sekab

Praj Industries and Sekab E-Technology AB, Sweden, have signed a cooperation agreement to upgrade and commercialise base technology that will help produce feedstock from advanced biofuels and biochemicals found in forest residue.

18 May 2020, 01:08:26 PM IST

European stocks firm at open

European shares bounced on Monday after their worst week in two months, as investors hoped for a gradual economic recovery with many countries easing coronavirus-led lockdowns. London's FTSE, France's CAC and DAX index in Germany gained over 2%.

18 May 2020, 12:30:14 PM IST

Airtel's special work-from-home offer

Bharti Airtel will offer its B2B customers a special work-from-home plan, which includes broadband and 4G, collaboration tools and virtual private network (VPN) connections. The company will include Google Meet, Zoom and Cisco WebX as options for collaboration tools.

18 May 2020, 12:27:27 PM IST

Coal India sinks on govt's liberalisation plan

Shares of Coal India declined 4.8% to 123.25 on the BSE as the government on Saturday said it will allow the commercialisation of coal, and let private entities participate in all sectors.

18 May 2020, 11:35:49 AM IST

Sensex update

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18 May 2020, 11:34:32 AM IST

Defence stocks on the rise

Shares of defence companies gained in the morning trade as the government on Saturday increased the foreign direct investment (FDI) limit in defence production to 74% from 49% earlier, to promote indigenisation under its 'Make In India' initiative.

18 May 2020, 11:29:31 AM IST

Crisil reaffirms Motherson Sumi's rating

Crisil has reaffirmed the long-term rating of Motherson Sumi at CRISIL AA+ but revised its outlook to negative from stable. The short-term and commercial paper (CP) ratings have been retained at CRISIL A1+.

18 May 2020, 11:22:50 AM IST

Top Nifty gainers, laggards

Cipla, Infosys, Bharti Infratel, ITC and Vedanta were the best performers on Nifty 50, while IndusInd Bank, Axis Bank, Zee Entertainment, ICICI Bank and Maruti Suzuki led the losses.

18 May 2020, 11:02:19 AM IST

Shriram Transport may raise funds

Shriram Transport Finance plans to raise 3000-4000 crore via a qualified institutional placement (QIP) or preferential allotment to augment liquidity, according to a Mint report. Two persons with direct knowledge of the matter said the company has met more than a dozen potential investors for the planned QIP. Shares of the firm tumbled 9.5% to 580.95 on the BSE.

18 May 2020, 10:37:22 AM IST

Nifty Auto sinks nearly 3%

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18 May 2020, 10:35:57 AM IST

M&M Finance cracks over 12%

Shares of Mahindra & Mahindra Financial Services slumped 12.1% to 148 on the BSE as the non-bank's profit fell to 234.8 crore in the March quarter from 686.4 crore in the year-ago period. However, revenue was at 3,101 cr during the reporting quarter, as against 2,880 cr in the same period last year.

18 May 2020, 10:31:15 AM IST

Rupee opens lower

The Indian rupee fell at open, at 75.84 against the US dollar compared to Friday's close of 75.57.

18 May 2020, 10:12:34 AM IST

BSE SmallCap down nearly 2%

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18 May 2020, 10:07:27 AM IST

BSE MidCap shares mixed

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18 May 2020, 10:06:21 AM IST

Private banks worst hit

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18 May 2020, 09:48:53 AM IST

InterGlobe Aviation tanks over 6%

Shares of InterGlobe Aviation, which owns and operates IndiGo, declined 6.3% to 922.35 as the government, in its relief package announced on Saturday, proposed privatising six airports and freeing up more airspace, failing to extend the much-needed monetary support to the cash-strapped industry.

18 May 2020, 09:40:59 AM IST

Cipla rises 2.5% despite weak Q4 show

Cipla jumped 2.5% to 584.55 on the NSE in early deals even as the pharmaceutical major posted a 33% year-on-year (YoY) decline in its consolidated net profit for the March quarter to 246 crore.

18 May 2020, 09:37:46 AM IST

Reliance Industries gains over 1%

Shares of Reliance Industries rose over 1% to 1,476.10 on the NSE as the company said New York-based private equity giant, General Atlantic, will invest 6,598.38 crore in its digital assets subsidiary, Jio Platforms Ltd. This is fourth such announcement by the company in recent weeks.

18 May 2020, 09:28:43 AM IST

Nifty sectoral indices under pressure

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18 May 2020, 09:20:54 AM IST

Market opening

Indian equity market opened lower, bucking the the pre-opening and SGX Nifty trend. The benchmark Sensex fell 62.26 points, or 0.2%, to 31,035.47, while the Nifty 50 index tumbled 22.40 points, or 0.3%, to 9,114.45.

18 May 2020, 08:59:43 AM IST

Asian stocks trade with a positive bias

Asian shares were led higher by S&P 500 futures on Monday and oil prices hit a five-week peak as countries' efforts to re-open their economies stirred hopes the world was nearer to emerging from recession. MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.4%, while Japan's Nikkei 225 rose 0.6% and Chinese blue chips rose a marginal 0.3%.

18 May 2020, 08:53:01 AM IST

Stocks to watch today

Reliance Industries said New York-based private equity giant, General Atlantic, will invest 6,598.38 crore in its digital assets subsidiary, Jio Platforms Ltd. Bharti Airtel, Cipla, M&M Finance, Maruti Suzuki and ITC will be other stocks in focus.

18 May 2020, 08:44:26 AM IST

Crude oil update

Oil prices rose over $1 a barrel on Monday to their highest in more than a month, supported by ongoing output cuts and signs of gradual recovery in fuel demand as more countries ease curbs imposed to contain the spread of coronavirus. Brent crude was up $1.19, or 3.7%, at $33.69 a barrel by 0240 GMT. The US West Texas Intermediate (WTI) crude gained $1.26, or 4.3%, at $30.69 a barrel, after rising to its highest since March 16.

18 May 2020, 08:41:21 AM IST

Dow Jones, S&P 500 gain

The Dow Jones Industrial Average rose 60.08 points, or 0.3%, to 23,685.42, the S&P 500 climbed 11.2 points, or 0.4%, to 2,863.7 and the Nasdaq Composite added 70.84 points, or 0.8%, to 9,014.56.

18 May 2020, 08:38:28 AM IST

US stocks settle in the green

Wall Street's three major indices closed higher on Friday after swinging between gains and losses as investors weighed worries about Sino-US trade relations and weaker-than-expected US economic data against growing optimism that easing coronavirus restrictions would boost activity this month. US retail sales and manufacturing output showed record declines in April due to virus-related stay-at-home orders. The data came after US President Donald Trump ratcheted up trade tensions with China by moving to block semiconductor shipments to China's Huawei Technologies from global chipmakers.

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