Share Market Highlights: Sensex sinks close to 4000 pts, records worst single-day fall, Nifty tanks 1100 pts

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Updated: March 23, 2020 6:15:54 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic benchmark indices saw their worst day of trade, as S&P BSE Sensex sank close to 4,000 points while the broader NSE Nifty-50 tanked 1,100 points just below the 7,600 mark.

Share Market Today, Share Market LiveAlthough India enters a partial shutdown, the stock exchanges will operate as usual.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic benchmark indices ended the day deep in red on Monday as the S&P BSE Sensex plunged 3,934 or 13.15% at 25,981 points. The broader NSE Nifty-50 slipped 1,110 points or 12.70% to sit slightly above the 7,600 points. All sectoral indices were deep in red during the day on NSE and only added to their losses as the closing bell inched closer. Nifty Private Bank was the biggest loser, down 17.05% aided by a falling Axis Bank and IndusInd Bank. All 30 constituents of the S&P BSE Sensex were down with Axis Bank falling more than 27% being the worst loser. Indian equity markets’ fear guage India Vix jumped more than 8% during the day to reach the 72.7 mark.

Prime Minister Narendra Modi is due to interact with captains of India Inc. later today via video conferencing. The total number of cases in India inched closer to 400 on Sunday as India praticed a ‘junta-curfew’. More than 80 districts have been locked down by the state governments and the central government to prevent the spread of Coronavirus.  Although a lockdown has been imposed, essential services will still continue to operate. The Reserve Bank of India, in a bid to fight the Coronavirus and still stay operational has devided its team into three, working from different locations. Interstate bus services have been halted, although airport remains operational. Ride hailing application Uber has suspended services.

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Highlights

    16:40 (IST)23 Mar 2020
    Sensex tanks more than 3,900 points to record worst single-day performance; here’s what pulled markets today

    Domestic equity markets witnessed their worst single-day performance on Monday as S&P BSE Sensex tanked more than 3934 points to settle at 25,981 points, while the broader NSE Nifty-50 plunged more than 1,100 points to reach 7610 points.

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    15:20 (IST)23 Mar 2020
    Minutes before closing, S&P BSE Sensex plummets 4,010 points

    Just minutes before the clsing bell, S&P BSE Sesnex is down by more than 4,000 points at 25,915.

    15:11 (IST)23 Mar 2020
    The fall in stock markets is not looking to slow down with Sensex falling more than 3900 points

    S&P BSE Sensex tanked 3952 points or 13.26%, falling below the 26,000 mark. Axis Bank sank almost 30%.

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    15:02 (IST)23 Mar 2020
    Coronavirus masks shortage: Overuse, improper disposal of masks; a crisis in making

    As the number of Coronavirus cases has risen in India, the level of panic among the people has also notched up. The panic buying of goods, especially equipment to protect themselves such as masks and sanitisers have been reported across the country. Almost every other person who is seen outside their homes are wearing a mask. This sudden spike in consumption has made the medical professional feel the pinch of a shortage of essential medical equipment such as masks. One common but underreported crisis that is beginning to take shape in Coronavirus-hit areas is the disposal of the used masks.

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    15:01 (IST)23 Mar 2020
    Stocks defying market movements

    The following stocks defied the movement of equity markets on Monday to hit their respective 52-week-highs.

    • Beekay Niryat Ltd
    • IPCA Labs
    • Hathway Bhawani Cabeltel
    14:52 (IST)23 Mar 2020
    India VIX surges 8.6%

    Volatility Index jumped 8.6% on Monday as markets recorded their worst single-day fall. 

    14:43 (IST)23 Mar 2020
    Digital India: Risk of coronavirus on currency notes, ATMs make banks recommend digital transactions

    As cases related to coronavirus have swelled up in India, the social-distancing and avoiding the touch of other humans and surfaces are the unanimous concern of every citizen. In this unfortunate time, the currency notes that are circulated with regular contact of hands also raise an alarm. 

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    14:38 (IST)23 Mar 2020
    Jimeet Modi on why equity markets in India should not be shut down.

    "Complete loss of reputation and confidence from a global standpoint. Most markets are trading online including India. Shutting down India's markets when the rest of the world ( including Italy, Spain, etc) still operates online would mean and send a signal that we can't have minimal BCP as compared to the rest of the world?"

    14:30 (IST)23 Mar 2020
    No parking space for aircraft; airport loads fall to lowest level as coronavirus causes demand slump

    As airlines ground flights in the wake of coronavirus, carriers are running out of parking space. At national capital Delhi’s IGI Airport, several operators have been parking at Runway 27 of the aerodrome as enough parking bays aren’t available, The Indian Express reported. Airlines have been minimising operations as demand has slumped due to the spread of coronavirus. India’s largest domestic carrier IndiGo has said that it would reduce operations of its scheduled flights by 40% for Sunday.

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    14:22 (IST)23 Mar 2020
    S&P cuts India GDP growth forecast for FY21 to 5.2%

    S&P Global Ratings on Monday cut its estimate for India's GDP growth in the fiscal starting April 1 to 5.2 per cent from its earlier estimate of 6.5 per cent, as it saw the outbreak of coronavirus costing economies around the globe, news agency PTI reported.

    14:21 (IST)23 Mar 2020
    Stocks hitting 52-week high

    Amid the carnage on Dalal Street, there were a few winners as well hitting their 52-week highs as the equity markets largely plummeted. These were:

    • Bafna Pharmaceuticals Limited 
    • IPCA Laboratories
    • Ruchi Soya
    14:05 (IST)23 Mar 2020
    Nifty Private Bank sinks 17%

    Sectoral index Nifty Private Bank tanked 17% as Axis Bank and IndusInd Bank tanked more than 24%.

    14:00 (IST)23 Mar 2020
    Axis Bank tanks 25%

    Although all the 30 stocks that make-up the S&P BSE Sensex were in the red, the biggest loser was private-sector lender Axis Bank, down 25%.

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    13:54 (IST)23 Mar 2020
    Pharma stocks gain

    IPCA Labs, Cadila Healthcare and were among the gainers amidst an otherwise gloomy market. IPCA Laboratories was up 0.31% while Cadila Healthcare was up by 0.49% and Cipla was up by 0.08%

    13:49 (IST)23 Mar 2020
    Here are the stocks that are defying the fall on BSE

    IndiaBulls Hosuing Finance gained 7.3% making it the biggest gainer among the BSE-500 firm. Thyro Care jumped close to 2% making it the second biggest gainer.

    13:32 (IST)23 Mar 2020
    Sensex falls 3500 points, records worst ever single-day fall

    S&P BSE Sensex continued to tank on Monday as fell 3,500 points to recorded its worst single-day fall ever.

    13:23 (IST)23 Mar 2020
    SoftBank to sell up to $41 billion in assets to buy shares, reduce debt

    SoftBank Group said Monday it would sell up to $41 billion in assets to finance a stock buyback, reduce debts and increase its cash reserves. In a statement, it said it would buy back $18 billion of its stock, with the remaining money to be used on debt, bond buybacks and cash reserves, setting a four-quarter timetable for the transactions.

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    12:59 (IST)23 Mar 2020
    Best investment options in a crashing stock market

    The growth of the Indian economy has slowed down over the last two years. The Sino-American trade war, a slowdown in the global economy, falling rupee, some economic and monetary policy decisions have had a direct bearing on the Indian economy and markets. The government and the Reserve Bank of India (RBI) have taken several measures to boost the growth, but it has stayed subdued. The Finance Minister of India announced growth boosters in two stages in the second half of the last calendar year while the central bank cut interest rates for a whopping five times.

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    12:48 (IST)23 Mar 2020
    IPCA Laboratories share price surges 12% as US FDA lifts import ban on possible Coronavirus antidote

    IPCA Laboratories share price surges as much as 12 per cent to trade at Rs 1,615 per share on Monday morning after the drug maker informed the stock exchanges that the US FDA has made an expedition for the company under the Imports Alert.

    12:29 (IST)23 Mar 2020
    Want to buy mutual funds in times of Corona? Here's what you need to do

    The Novel Coronavirus COVID-19 has served double blow to mutual fund (MF) investors, who are not Net-savvy. First, fund values have nosedived along with the stock market crash as economies worldwide have come to a near standstill due to the lockdowns imposed to contain the spread of Coronavirus. Secondly, the highly-infectious disease has also capped the chance of grabbing the opportunities to invest in a falling market to acquire higher numbers of MF units at a cheaper NAV through physical applications.

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    11:38 (IST)23 Mar 2020
    IPCA Labs share price surges as USFDA makes exception to get APIs from company

    IPCA labs informed the stock exchanges that US FDA has made an exceptin for its APIs under the Import alert for Hydroxychloroquine Sulphate and Chloroquine Phosphate APls produced at the Company's APls manufacturing unit situated at Ratlam (Madhya Pradesh); Hydroxychloroquine Sulphate Tablets produced at the Company's formulations manufacturing units situated at SEZ Indore, Pithampur (Madhya Pradesh) and Piparia (Silvassa).

    11:13 (IST)23 Mar 2020
    India VIX surges 7.54%

    India equity markets' fear guage India VIX surged 7.54% as domestic markets continued witness a sell-off even after a 45-minute tradin halt.

    11:01 (IST)23 Mar 2020
    Sensex again fall below 10%

    After shedding some losses, the S&P BSE Sensex again tanked more than 10 per cent on monday.The index was down 3,175.09 or 10.61%.

    10:49 (IST)23 Mar 2020
    Trading resumes after a 45-minute trading halt

    Trading resumed after a 45-minute trading halt after which S&P BSE Sensex recovered slightly. The 30-stock index was down 2,100 points at 10:50 AM.

    10:42 (IST)23 Mar 2020
    Monday Mayhem: Sensex tanks 10%, trading halts for 45-minutes as investors lose Rs 10 lakh crore

    As Coronavirus continued to weigh-in on domestic equity markets, S&P BSE Sensex tanked 10 per cent in the initial hour of trade, falling to 26,924 points which forced the market regulator to halt trading for 45 minutes on the Indian stock exchanges. The broader NSE Nifty-50 slipped below the 8,000 mark, falling 9.63 per cent or 842 points. All 30 constituents of the S&P BSE Sensex were deep in red. Axis Bank, ICICI Bank led the fall with a 20 per cent and 15 per cent fall, respectively.

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    10:34 (IST)23 Mar 2020
    What does a trade halt mean?

    As a measure to curb excessive volatility, circuit breakers are triggered on the basis of three thresholds for stock movement — 10 per cent, 15 per cent and 20 per cent. The BSE and the NSE compute the index circuit breaker limits for 10 per cent, 15 per cent and 20 per cent levels on a daily basis based on the previous day’s closing level of the index rounded off to the nearest tick size, HDFC Securities said earlier this month explaining the trading halt.

    10:08 (IST)23 Mar 2020
    Sensex has hit the lower circuit after falling down 10%; trading halts for 45 minutes

    S&P BSE Sensex hit the lower circuit on Monday morning, falling 10 per cent in the inital hour of trade. Trading was subsequently halted for 45 minutes Indian stock exchanges.

    10:03 (IST)23 Mar 2020
    Sensex down 10% at 26,924 points

    S&P BSE Sensex continued to fall on Monday, opening down by 2,500 points. After the initial hour of trade the index was down 10% with Axis Bank, IIIBank and IndusInd Bank leading the fall.

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    09:59 (IST)23 Mar 2020
    COVID-19 outbreak: From today, bank branches only for essential services

    The Indian Banks' Association (IBA) has announced that effective Monday banks will undertake only essential services like cash deposit and withdrawal, cheque clearances, remittances and government transactions.

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    09:58 (IST)23 Mar 2020
    Coronavirus: Anand Mahindra to stop vehicle production, plans to manufacturer ventilators

    Mahindra Group boss Anand Mahindra has made a string of announcements to combat the ongoing global crisis due Coronavirus COVID-19 pandemic. Beginning with shutting vehicle production at its plants, Mahindra Group will assess the feasibility of manufacturing ventilators at these plants, Anand Mahindra wrote in a tweet. He further added that Mahindra Holidays will offer its resorts to be used as medical care facilities.

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    09:53 (IST)23 Mar 2020
    NSE Nifty-50 drops below the 8,000 mark

    NSE Nifty, after opening down by 600 points, has now tanked further to slip below the 8,000 mark down by more than 800 points

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    09:50 (IST)23 Mar 2020
    Monday mayhem sees investors go poorer by Rs 9.76 lakh crore

    The bears are still holding tight onto the Indian stock exchanges. As markets opened on Monday morning investors lost Rs 9.76 lakh crore in terms of market capitalisation of the BSE listed firms.

    09:42 (IST)23 Mar 2020
    Nifty Bank the biggest sectoral loser

    Nifty Bank was down 10.14 per cent on Monday morning as markets continued their downward journey. All constituents of the index were trading in the red with IndisInd Bank being the biggest loser down more than 14 per cent.

    09:39 (IST)23 Mar 2020
    Coronavirus mayhem: FPIs pull out over Rs 1 lakh cr in March so far

    Foreign portfolio investors (FPI) have pulled out over Rs 1 lakh crore from the Indian capital markets in March so far amid heightened fears of a coronavirus-induced global recession. Experts believe, foreign investors are withdrawing from riskier assets and are opting for safe heavens like dollar-denominated asset classes and gold. As per the depositories data, overseas investors withdrew a net sum of Rs 56,247.53 crore from equities and Rs 52,449.48 crore from the debt segment, taking the total net outflow to Rs 1,08,697.01 crore between March 2 and March 20.

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    09:38 (IST)23 Mar 2020
    COVID-19 to continue to dictate market trends: Analysts

    Trading at the Indian bourses this week would continue to be guided by developments on the coronavirus front and concerns over its impact on the economic activity will most likely weigh on the markets, according to analysts.

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