Indian equity market continued to remain under pressure amid massive sell-off by investors who feared that the pandemic of coronavirus may cause heavy damage to the economy. Bear stranglehold persisted as the central government and various states took major steps over the weekend, including suspension of public transport such as railways, metro rail and bus services, and lockdown of 75 districts across the country to prevent the spread of the deadly virus.
The benchmark Sensex tumbled 3,934.72, or 13.15%, to end at 25,981.24 points, while the Nifty 50 index settled 1,100.85 points, or 12.70%, lower at 7634.60.
Nifty Bank slumped more than 3,000 points, with Axis Bank falling 27.60% and becoming the biggest laggard in today's session. Bajaj Finserv, IndusInd Bank, Bajaj Finance and Zee Entertainment slipped 19-28%.
23 Mar 2020, 03:07:24 PM IST
Some BSE SmallCap shares buck the broader market trend
23 Mar 2020, 03:05:42 PM IST
BSE MidCap sinks nearly 13%
23 Mar 2020, 03:01:18 PM IST
Kalpataru Power postpones board meeting
The power transmission firm said it has postponed its board meeting, which was scheduled for 24 March, to consider the proposal to buy back equity shares of the company. The new date of the meeting will be informed in due course, the company said in a regulatory filing.
23 Mar 2020, 02:45:28 PM IST
Nifty Private Bank falls the most among sectors
23 Mar 2020, 02:42:47 PM IST
European markets slump
Key indices in Europe continued their sell-off, with London's FTSE diving over 4%, while CAC index in France and Germany's DAX falling nearly 4% each in early deals.
23 Mar 2020, 02:25:25 PM IST
Nifty Bank, Financial Services worst performers
23 Mar 2020, 02:18:35 PM IST
S&P cuts India growth forecast for FY21 to 5.2%
S&P Global Ratings on Monday lowered its estimate for India's GDP growth for the financial year 2021 to 5.2% from its earlier estimate of 6.5%, as it fears that the the pandemic of coronavirus may heavily damage economies across the world.
23 Mar 2020, 02:01:28 PM IST
SEBI extends issuance date for debt securities
Markets regulator Securities and Exchange Board of India (SEBI) has extended the date of issuance for debt securities by 60 days till May 31. It has also extended the date of filing of large corporate initial and annual disclosure till June 30.
23 Mar 2020, 01:56:23 PM IST
India VIX up over 7%
Fear gauge India Volatility Index, or India VIX, traded 7.10% higher at 71.8675.
23 Mar 2020, 01:45:12 PM IST
RBI advances OMO purchase auction
The Reserve Bank of India (RBI) advanced the second tranche of purchase of government securities for ₹15,000 crore under open market operations (OMOs) to 26 March from 30 March announced earlier. The moves comes amid the current liquidity and financial conditions stemming from worries about the economic damage due to the coronavirus outbreak.
23 Mar 2020, 01:28:26 PM IST
Stocks of 1,042 companies hit 52-week lows
Axis Bank, Bajaj Finserv, Bajaj Auto, Bajaj Finance, Bharat Petroleum, Grasim Industries, HDFC Bank, Hindalco, ICICI Bank, InterGlobe Aviation, Larsen & Toubro, IndusInd Bank, Mahindra & Mahindra, NTPC, Maruti Suzuki, Reliance Industries, State Bank of India and Sun Pharmaceutical Industries touched their 52-week lows today.
23 Mar 2020, 01:05:17 PM IST
Rupee trims losses, trades at 75.90
The Indian rupee pared some early losses but traded lower by 71 paise at 75.90 against the US dollar. It had opened at a fresh record low of 75.68 compared with Friday's close of 75.19.
23 Mar 2020, 12:52:17 PM IST
GM Breweries shares plummet over 15%
Shares of GM Breweries slumped 15.49% to ₹230 on the BSE after the liquor maker said it has shut down its manufacturing unit at Virar in Maharashtra with immediate effect till 31 March as per the state government's order of a complete lockdown, barring the essential services.
23 Mar 2020, 12:45:33 PM IST
VE Commercial Vehicles halts production
The company, a joint venture of Volvo Group and Eicher Motors, today said it has decided to suspend all operations of manufacturing plants with immediate effect til 31 March in the wake of the coronavirus outbreak. This will include production facilities in Pithampur, Baggad, Bhopal and Thane. However, customer concerns and emergency services will remain operational, Eicher Motors said in a regulatory filing.
23 Mar 2020, 12:11:27 PM IST
Sensex, Nifty update at noon
Indian equities started their downward spiral, following recovery of some points after trading resumed. Trading of Sensex and Nifty was halted for 45 minutes after the former fell 10%, touching the lower circuit. The benchmark Sensex was down 3,499.40 points, 11.7%, at 26,416.55, while the Nifty 50 index dropped 1,008.20, or 11.5%, to 7,737.25 points.
23 Mar 2020, 11:56:03 AM IST
Nifty Bank constituents deep in the red
23 Mar 2020, 11:53:04 AM IST
Need to have a non-scheduled rate cut: Aditya Puri
India's economy needs to have a non-scheduled rate cut by the Reserve Bank of India (RBI) to deal with the crisis arising out of the coronavirus outbreak. The government should put sticking to its fiscal deficit target on the back burner as it not relevant at the moment and will recover, HDFC Bank managing director Aditya Puri told news channel CNBC-TV18. The private lender has surplus liquidity of $5 billion, he added.
23 Mar 2020, 11:27:24 AM IST
Bajaj Auto MD says will take care of employees, suppliers
There will no job losses and no salary cuts in the aftermath of production units being shut down to contain the spread of coronavirus, Bajaj Auto managing director Rajiv Bajaj told television news channel CNBC-TV18. The auto major will also take care of all its suppliers and vendor companies, he added.
23 Mar 2020, 11:09:21 AM IST
BSE SmallCap tumbles 8.7%; some shares in the green
23 Mar 2020, 11:07:17 AM IST
BSE Midap down over 9% at 10,107.65
23 Mar 2020, 11:03:47 AM IST
Top Nifty laggards at 11 am
Shares of Axis Bank crashed 20% on the Nifty 50 index, followed by ICICI Bank, IndusInd Bank and Adani Ports, down 15% each. Hero MotoCorp traded more than 14% lower.
23 Mar 2020, 10:58:47 AM IST
Asian paints halts production
The paint maker today said it will shut down operations in all its manufacturing units and at most sales locations in the next 24 hours. All employees of the company have been asked to work from home. It said the duration of this shutdown will depend on the directives issued by the respective government authorities. Shares of the company were down 7.8% at ₹1,610 on the BSE.
23 Mar 2020, 10:36:23 AM IST
ICICI Bank hits 20-month low
Shares of the private lender tumbled 15% in early deals, hitting a 20-month low. The stock slipped below the ₹300 mark and was at ₹293.85 on the BSE before trading was halted.
23 Mar 2020, 10:31:48 AM IST
Coronavirus: S&P Global's estimate for Asia Pacific
S&P Global Ratings on Monday estimated the cost of the coronavirus (COVID-19) outbreak for 14 Asia-Pacific countries including India to be $620 billion. However, it did not give a country-wise break-up for its estimate.
23 Mar 2020, 10:19:07 AM IST
Bharat Forge suspends all operations
The company today said it has suspended all operations at its offices and manufacturing facilities in India with immediate effect until 31 March to contain the spread of coronavirus. Shares of the company were down 9.7% at ₹272.25 on the BSE.
23 Mar 2020, 09:55:18 AM IST
Maruti Suzuki tanks nearly 13%
Shares of India's largest carmaker slumped nearly 13% as the company on Sunday announced that it will indefinitely shut down its two manufacturing units located in Haryana's Gurugram and Manesar to prevent the spread of coronavirus.
23 Mar 2020, 09:45:11 AM IST
Sensex, Nifty nosedive at open
Both Sensex and Nifty tumbled nearly 9% in opening deals. Indian equities continued to remain under pressure as investors feared that the rapid spread of coronavirus in the country would cripple the economy. The benchmark Sensex was down 2,693.47 points at 27,222.49, while the Nifty 50 index traded 788.20 points lower at 7,957.25 in early trade.
23 Mar 2020, 09:30:57 AM IST
Banks, financial services firms worst performers on Sensex
23 Mar 2020, 09:28:28 AM IST
All Nifty sectoral indices slump
23 Mar 2020, 09:12:04 AM IST
Rupee opens at fresh record low
The Indian rupee opened at an all-time low of 75.68 against the US dollar compared with Friday's close of 75.19.
SGX Nifty, which indicates the movement for Indian equities, slumped nearly 12% in early deals. Hang Seng index in China fell almost 4%, while Korea's Kospi was down over 4% and Shanghai Composite index in China trade over 2% lower. However, Japan's Nikkei 225 index bucked the trend in Asian markets and was up 0.5% in morning deals.
23 Mar 2020, 08:39:51 AM IST
Dow Jones slips 4.5%, S&P down over 4.3%
The Dow Jones Industrial Average fell 913.21 points, or 4.55%, to end Friday's session at 9,173.98, the S&P 500 lost 104.47 points, or 4.34%, to close at 2,304.92 and the Nasdaq Composite dropped 271.06 points, or 3.79%, to 6,879.52. Friday's drop left the Dow down 3% from when President Trump took office in January 2017.
23 Mar 2020, 08:34:57 AM IST
US stocks suffer worst week since October 2008
Benchmark Wall Street indices continued their sell-off, ending the worst week since October 2008, with the Dow Jones Industrial Average and S&P 500 sliding more than 4% on Friday as tough restrictions imposed by New York and California to try to prevent the spread of the coronavirus (COVID-19) fuelLed concerns over the damage to the US economy.