MARKET WRAP: Investors lose Rs 5.8 trillion as Sensex tumbles 2,002 points
All that happened in the markets today
 "Markets, Market fall, bear")
Nifty50 index ended at 9,293.50, down 566.40 points or 5.74 per cent.
The Indian equity market declined nearly 6 per cent on Monday, tracking weak global cues after the latest flare up in US-China tensions. Further, yet another extension of the nation-wide lockdown also weighed on investor sentiment. Volatility index, India VIX, made an aggressive come-back after recent cool-off and surged over 28 per cent to 43.74 levels.
The S&P BSE Sensex tumbled 2,002 points or 5.94 per cent to 31,715 levels with 28 out of 30 constituents ending in the red. ICICI Bank (down 11 per cent) emerged as the biggest loser on the index, followed by Bajaj Finance (down 10 per cent), HDFC (down 10 per cent), and IndusInd Bank (down 9.6 per cent).
With today's fall, investors' wealth got eroded by around Rs 5.8 trillion, BSE data shows.
On the NSE, Nifty50 index ended at 9,293.50, down 566.40 points or 5.74 per cent.
Sectorally, barring Nifty Pharma, all the other sectoral indices on the NSE ended in the negative territory. Nifty Bank slid 1,791 points or over 8 per cent to 19,744 levels while Nifty Metal index declined 7.86 per cent to 1,714.
In the broader market, the S&P BSE MidCap index slumped 511 points or over 4 per cent to 11,502.59 while the S&P BSE SmallCap index lost over 3 per cent to 10,753.58.
Buzzing stocks
Shares of breweries & distilleries companies were in focus and rallied up to 11 per cent on the BSE in an otherwise weak market after the government allowed the opening of liquor shops from today with certain condition. According to the Union Home Ministry notification, the liquor shops will be allowed to open in all the three zones, i.e red, orange and green. Liquor stores will not be allowed in containment zones across the country. READ MORE
Tech Mahindra declined around 8 per cent to Rs 502.45 apiece on the BSE after the company on Thursday posted lower-than-expected numbers for the quarter ended March 2020. READ MORE
Shares of Hindustan Unilever skid over 5 per cent to Rs 2,082 on the BSE after the consumer goods firm reported disappointing set of numbers for the quarter ended March 2020 (Q4FY20) on the back of the Covid-19 crisis. READ MORE
With today's fall, investors' wealth got eroded by around Rs 5.8 trillion, BSE data shows.
On the NSE, Nifty50 index ended at 9,293.50, down 566.40 points or 5.74 per cent.
Sectorally, barring Nifty Pharma, all the other sectoral indices on the NSE ended in the negative territory. Nifty Bank slid 1,791 points or over 8 per cent to 19,744 levels while Nifty Metal index declined 7.86 per cent to 1,714.
In the broader market, the S&P BSE MidCap index slumped 511 points or over 4 per cent to 11,502.59 while the S&P BSE SmallCap index lost over 3 per cent to 10,753.58.
Buzzing stocks
Shares of breweries & distilleries companies were in focus and rallied up to 11 per cent on the BSE in an otherwise weak market after the government allowed the opening of liquor shops from today with certain condition. According to the Union Home Ministry notification, the liquor shops will be allowed to open in all the three zones, i.e red, orange and green. Liquor stores will not be allowed in containment zones across the country. READ MORE
Tech Mahindra declined around 8 per cent to Rs 502.45 apiece on the BSE after the company on Thursday posted lower-than-expected numbers for the quarter ended March 2020. READ MORE
Shares of Hindustan Unilever skid over 5 per cent to Rs 2,082 on the BSE after the consumer goods firm reported disappointing set of numbers for the quarter ended March 2020 (Q4FY20) on the back of the Covid-19 crisis. READ MORE
Global markets
European stock markets and oil prices fell on Monday as a spat between top US officials and China over the origin of the coronavirus fuelled fears of a new trade war, derailing a rebound in global markets. European shares opened down 2.5 per cent with US stock futures trading close to 1 per cent in the red.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 2.5 per cent, pulled down by Hong Kong where the Hang Seng returned from a two-session holiday with its biggest drop in six weeks.
In commodities, oil prices fell, paring last week’s gains, on worries a global oil glut may persist amid slumping demand and US-China trade tensions.
US West Texas Intermediate (WTI) crude futures fell as low as $18.10 a barrel earlier in the session and were down $1.01, or 5.1 per cent, at $18.77 at the time of writing of this report. Brent crude futures were down 10 cents, or 0.4 per cent, at $26.34, after touching a low of $25.50.
(With inputs from Reuters)
4:09 PM![]()
MARKET COMMENT | Vinod Nair, Head of Research at Geojit Financial Services
"In sync with global markets, the Indian benchmark indices lost around 5.6% with an increase in the volatility index by around 28%. Globally, rising trade war tensions between US – China and domestically, dire economic news added to the negativity. The extension of the lockdown and the fear that the economy and businesses will take longer to get back on track, impacted the markets. Indian market will continue to be driven by global news flow and domestic earnings commentary. "
3:48 PM
SECTOR WATCH | Nifty Pharma ends in the green
3:45 PM
MARKET AT CLOSE | Losers and gainers on the S&P BSE Sensex
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CLOSING BELL
The S&P BSE Sensex tanked 2,002 points or 5.94 per cent to 31,715 levels while NSE's Nifty50 ended at 9,293.50, down 566 points or 5.74 per cent.
3:23 PM
MARKET CHECK | Top 5 gainers on the BSE at this hour
3:13 PM
MARKET CHECK | Top 5 losers on the BSE at this hour
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Covid-19 lockdown: Petrol sales fell by 61% in April, diesel by 57%
State-owned oil marketing companies — Indian Oil Corp , Hindustan Petroleum Corp and Bharat Petroleum — own about 90 per cent of the country's retail fuel outlets. These retailers' petrol and diesel sales in the first half of April declined by 61 per cent and 64 per cent, respectively, as a nationwide lockdown to curb the spread of coronavirus brought economic activity to a standstill. READ MORE
3:03 PM
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MARKET ALERT :: Jubilant Life Sciences, AU Small Finance, Finolex Cables, SpiceJet and Raymond among 361 stocks locked in lower circuit on the BSE
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Jhunjhunwala, FPIs, MFs hike stake in Rallis India; stock up 32% in 2020
Institutional investors, led by mutual funds and foreign portfolio investors (FPIs), bought an additional 2.8 million equity shares, or 1.45 per cent stake of Rallis India, in Q4FY20. Mutual funds' holding in the company increased to 15.01 per cent from 13.6 per cent, while FPIs' holding increased to 4.89 per cent from 4.41 per cent at the end of December 2019 quarter. READ MORE
2:53 PM
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Covid-19 smashes Asia's factories; activity hits historic lows all over
A series of Purchasing Managers' Indexes (PMIs) from IHS Markit fell deeper into contraction from March, with some diving to all-time lows and others hitting levels last seen during the 2008-2009 global financial crisis.
Similar gauges out of Europe's largest economies due on Monday and later in the week are also expected to show dire global industry conditions. READ MORE
2:46 PM![]()
BROKERAGE VIEW:: ICICI Securities on Music Broadcast
The radio segment continues to be steeply impacted by overall macroeconomic challenges as well as lower government spending. Covid-19 is a double whammy in this context and the next two quarters are expected to see a steep impact. The management is hoping for an ad growth revival from Q3 onwards, driven by festive period. Post 35% correction in last two months, we assign a BUY rating (vs. HOLD earlier) with a revised target price of Rs 18/share, as we bake in lower growth trajectory ahead.
2:41 PM
>> EBITDA margin at 64.5% Vs 66%
Earnings Alert | Adani Green Q4
>> Consolidated Net profit at Rs 96.4 cr Vs loss of Rs 94 cr in Q4FY19
>> Revenue up 2.2% at Rs 696 cr Vs Rs 681 cr YoY
>> Forex loss at Rs 292.5 cr Vs gain of Rs 2.2 cr YoY
>> EBITDA flat at Rs 449 cr
>> EBITDA margin at 64.5% Vs 66%
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Will cancel trade deal if China fails to buy goods worth $200 bn : Trump
During a virtual town hall from the Lincoln Memorial in Washington on Sunday (local time), Trump said that Chinese President Xi Jinping had only agreed to the deal because of the Washington-imposed tariffs which "at a minimum are the greatest negotiating tool that we have ever devised that we never use", South China Morning Post reported. READ MORE
2:21 PM
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Sino-US trade war and other factors that fuelled 1,900-pt drop in Sensex
After posting its best monthly performance in 11 years last week, the domestic equity market came under pressure on Monday -- the first trading day of May -- amid a series of disappointing developments.
The benchmark S&P BSE Sensex plunged 1,806 points or over 5 per cent during the day with stocks such as HDFC Bank, HDFC, ICICI Bank, Infosys, and Axis Bank contributing the most to the index's fall. NSE's headline index, Nifty 50, dropped 508 points or over 5 per cent to 9,352.20 levels in intra-day deals. READ MORE
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Rupee closing
Rupee ends weaker at 75.71/$ vs Thursday's closing of 75.10 against the US dollar
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First Published: May 04 2020 | 7:39 AM IST
