MARKET WRAP: Sensex tanks 1,710 pts, ends below 29K; Nifty settles at 8,469

All that happened in markets today

12:15 PM

SENSEX IN FREE FALL, NEARS 29,500

12:13 PM

Vodafone Idea tumbles 40%, Bharti Aitel slips 5% after SC's AGR verdict

Among individual stocks, Vodafone Idea tumbled 40 per cent to Rs 2.91 per share. At 11:35 am, the stock was trading 25.36 per cent lower at Rs 3.62 as compared to 2.06 per cent fall in Sensex. Bharti Airtel fell as much as 5.03 per cent to Rs 431.25 after rising 4.28 per cent to Rs 478.40 immediately after the SC hearing. Moreover, Bharti Infratel slipped 16.6 per cent to Rs 161.75 and Reliance Industries gave up its day's gains and fell 1.5 per cent to Rs 993.60. READ MORE

12:07 PM

NEWS ALERT | NCLT Mumbai allows Jet Airways another 90 days for finalising resolution plan: CNBC TV18

>> Total number of days reach 360 days, as against 330 provided under IBC norms

Alert: 270-day deadline for Jet Airways ended on March 15

11:54 AM

MARKET ALERT | Nifty tests 8,700-mark

11:52 AM

MARKET SELL-OFF | Sensex tumbles over 800 points, gives up 30,000-mark

11:35 AM

Brokerages slash India Inc's FY21 earnings estimates amid coronavirus scare

Analysts at Jefferies, for instance, suggest that the markets are already pricing in a 15 per cent drop in earnings given the current valuations. Within Nifty 100, they believe, 63 per cent stocks, including HCL Technologies, Infosys, ITC, Hero MotoCorp, Marico and Petronet, are building in a higher earnings downgrade of over 20 per cent. READ MORE

11:31 AM

NEWS ALERT | SC to next hear AGR case in 2 weeks: CNBC TV18

11:26 AM

MARKET CHECK

11:25 AM

Voda Idea under pressure post AGR verdict

COMPANY	LATEST(rs)	CHG(rs)	CHG(%)	VOLUME
VODAFONE IDEA	3.31	-1.54	-31.75	95458564
BHARTI AIRTEL	459.50	5.40	1.19	1059179
TEJAS NETWORKS	40.05	-0.15	-0.37	6315

11:17 AM

AGR VERDICT | No self-assessment can be done: SC

>> Actions of telecom companies are tantamount to seeking to bypass our judgment.

>>  Court says no further objection will be entertained

10:59 AM

Banking stocks take knock post AGR verdict

10:58 AM

AGR CASE | Self assessment of AGR dues is in contempt of our orders: SC

>> "Self assessment by DoT is sheer violation of our orders, sheer contempt", Justice Arun Mishra remarks

10:56 AM

AGR CASE | Companies are trying to influence us through the media: SC

>> AGR dues are public money

>> Court cannot permit another round of litigation on the issue of AGR.

10:48 AM

AGR CASE| No objections to be allowed against payable dues: SC

>> How can there by self-assessment if DoT has already stated dues payable

(As reported by CNBC TV18)

10:41 AM

Global refiners consider crude oil cuts as coronavirus destroys fuel demand

Gasoline demand in the United States, the world's largest oil consumer, is plunging. International flights are being grounded worldwide, slamming jet fuel demand.

 

Margins for producing transportation fuels turned negative in Europe and Asia, and briefly did the same in the United States, in a rapid response to international and domestic travel restrictions in scores of nations worldwide. READ MORE