Key indices saw a gap-down opening on weak global cues. Trading on BSE and NSE was halted after Nifty hit lower circuit limit. At 9:22 IST, the barometer index, the S&P BSE Sensex, was down 3,090.62 points or 9.43% at 29,687.52. The Nifty 50 index was down 966.10 points or 10.07% at 8,624.05.
The S&P BSE Mid-Cap index was down 9.06%. The S&P BSE Small-Cap index was down 9.23%.
The market breadth, indicating the overall health of the market, was weak. On the BSE, 88 shares rose and 1,275 shares fell. A total of 35 shares were unchanged.
The Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for the month of January 2020 stood at 137.1, which is 2% higher as compared to the level in the month of January 2019. The cumulative growth for the period April-January 2019-20 over the corresponding period of the previous year stood at 0.5%.
The all India Consumer Price Index (CPI), slipped to 6.58% in February following easing food prices, according to data released by the National Statistics Office.
Stocks in news:
More From This Section
State Bank of India crashed 12.48%. State Bank of India said that executive committee of central board (ECCB) approved purchase of 725 crore shares in Yes Bank at Rs 10 per share. SBI's shareholding in Yes Bank will remain within 49% of the paid up capital of Yes Bank.
Bharti Airtel tanked 6.04%. Bharti Airtel has acquired a 10% strategic stake in fitness start-up Spectacom Global, under the Airtel Start-up Accelerator Program, which focuses on supporting growth of early stage Indian start-ups.
Wockhardt slumped 9.53%. Wockhardt informed that the capital raising committee of the company will meet 30 March 2020 to consider / approve extension of the date of redemption of 16 crore non-convertible cumulative redeemable preference shares of face value of Rs 5 each held by Khorakiwala Holdings & Investments. These preference shares are due for redemption on 31 March 2020.
Sun Pharmaceutical Industries was down 1.97%. Sun Pharmaceutical Industries informed that the meeting of board of directors will be held on 17 March 2020 to consider and if deemed fit, to approve, the proposal for buy-back of fully paid-up equity shares of the company.
CESC Ventures dived 7.50%. CESC Ventures informed that the company executed share subscription agreement and shareholders agreement for acquiring 8.49 % shareholding in Peel-Works. Peel-Works is a technology driven distribution company which supplies food, grocery and consumer products to retailers and wholesalers where orders are collected through a software application.
Global Markets:
Overseas, stocks plunged in Asia on Friday, as fears of economic fallout from the coronavirus crisis deepened and the meltdown in the US, the world's biggest economy, battered confidence around the globe.
In US, stocks tumbled on Thursday with both the Dow Jones Industrial Average and the S&P 500 index suffering their worst day since the 19 October, 1987 Black Monday crash.
Stock prices plunged despite a move by the Federal Reserve to offer some $1.5 trillion worth of funding to keep credit flowing through financial markets to businesses as governments move to restrict the movement of people in an attempt to contain the coronavirus pandemic.
Powered by Capital Market - Live News