Sensex plunges 3,935 pts in biggest 1-day fall; investors lose Rs 13.88 trn

All that happened in markets today

10:57 AM

Global corporate revenue to take $12 trillion hit due to coronavirus

In this backdrop, US companies are likely to cut capex plans by $900 billion (4 per cent of gross domestic product), trim spends on buybacks and mergers & acquisitions (M&As) by around $600 billion (3 per cent of GDP). There will also be meaningful cuts in employment as companies cut back on hiring, which will flow through to the economy. READ MORE

10:54 AM

Sensex heatmap at pre-open

10:50 AM

MARKET ALERT | Rate sensitive sectors tank; Nifty Auto, Realty, Bank index down over 10%

10:43 AM

MARKET UPDATE:: Pre-open resumes; Sensex indicates a rebound

10:43 AM

Thyrocare Tech, Dr Lal Path Labs surge as pvt labs to conduct Covid-19 test

According to the guidelines issued by the Indian Council of Medical Research over the weekend, all private laboratories that have National Accreditation Board for Testing and Calibration Laboratories accreditation for real-time polymerase chain reaction assay for RNA virus will only be allowed to conduct Covid-19 tests. READ MORE

10:40 AM

Sell stocks and go! Difficult to predict when the market carnage will end

The coronavirus health scare caught the world off-guard and has completely roiled equity markets over the past few weeks. The precipitous fall in global equities since the first case came to light in late 2019 has already ended the bull-run in many stock indexes over the globe, including in Dow Jones Industrial Average (DJIA), which saw its 11-year bull-run punctured. Indian markets, too, succumbed and entered bear terrain, which is typically defined as a fall of 20 per cent or more in an index or a stock from the top. READ MORE

10:40 AM

Jefferies on fiscal stimulus expectation

We think government economic support measures are imminent, but weaker tax collections could limit fiscal space. If the govt decides to relax the fiscal deficit target by, say, 1ppt (GFC: 3.5ppts) then this, alongside incremental fuel taxes, could create spending headroom of US$18bn, possibly funding unemployment support, GST cut, infra/housing spend, etc. Strategic disinvestment will become imperative and overhang on non-strategic disinvestment will stay.

10:39 AM

Jefferies on Ipca Labs

FDA has allowed IPCA(under import alert) to supply HCQS & Chloroquine which can have potential use in COVID-19 treatment. Potential cost can be U$6-8 per patient for US and U$1 for India. HCQS has multiple generics- CDH(3% of US sales), Sandoz, Teva, SunP, DRRD. Most are increasing capacity and some have pledged donations (c150mn doses). IPCA can be a key beneficiary followed by CDH. Chloroquine has only 2 suppliers- NATCO, IPCA and could be positive for both.

10:37 AM

MARKET COMMENT :: Vinay Pandit, Head - Institutional Equities, IndiaNivesh

It's tough to say where the markets will stop. It's all about what kind of Nifty earnings hit one is expecting and what multiple are you ready to give these markets. In the current scenario, it looks like investors are not willing to give a multiple of more than 11-13x and presuming overall earnings for FY21E will be down by 20% across the board, in which case the bottom is somewhere between 6800 and 8000 for the Nifty. But these are excellent times for long term value picks at cheap valuations. It's time to pick and choose but focus should only be on quality businesses and companies which have stood the test of time. Any news of a cure or global recovery from the virus will send the index in a V shaped recovery. Hence investors are advised not to time the bottom

 

 

10:31 AM

ALERT :: Investors lost Rs 10.3 trillion market-cap today

10:23 AM

Pharma stocks trade mixed in a weak market

COMPANY NAME	LATEST	CHG(%)
CADILA HEALTH.	288.10	0.70
SUN PHARMA.INDS.	336.45	-8.02
SYNCOM FORMUL.	0.57	-6.56
KABRA DRUGS	2.82	1.81
CIPLA	390.50	-0.79

10:17 AM

Contribution to S&P BSE Sensex's fall today

10:14 AM

Top BSE500 losers today

COMPANY	LATEST	PREV CLOSE	LOSS(%)
CAN FIN HOMES	269.20	336.45	-19.99
AXIS BANK	342.75	428.35	-19.98
ICICI SEC	226.65	282.75	-19.84
CITY UNION BANK	131.00	163.35	-19.80
SUNTECK REALTY	185.00	227.80	-18.79

10:12 AM

Heatmap: S&P BSE Sensex

10:09 AM

Sensex hits 10% lower circuit, trading halted for 45 minutes

Trading in the domestic stock market once again got halted for 45 minutes on Monday as the benchmark Sensex hit a lower circuit limit of 10 per cent as India, along with a host of other countries went into a lockdown to stem the spread of Coronavirus (Covid-19) pandemic. The Sensex hit a low of 26,924.11, triggering temporary pause in trading across all the segments in the markets. It was the second instance of trading halt in the Indian market in a span of 10 days. Earlier, in March 13, Nifty hit lower circuit in the opening deals for the first time since May 2009. READ MORE