Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity market benchmarks Sensex and Nifty failed to hold the morning gains and settled over half a per cent lower in Wednesday’s volatile session dragged by weakness TCS, ICICI Bank and Reliance industries (RIL). S&P BSE Sensex fell 173 points or 0.58 per cent to end at 29, 894, while the broader Nifty 50 index closed below 8,750, down 44 points or 0.49 per cent. As many as 15 stocks out of 30 Sensex stocks settled in red today. TCS was the top Sensex loser, down 3.91 per cent, followed by Titan, ICICI Bank and SBI. On the flip side, Sun Pharma was the top Sensex gainer, up 4.69 per cent. NTPC, IndusInd Bank, Bajaj Finance and Maruti were among other gainers on the index. Most of the sectoral indices settled in a negative territory. Nifty Bank index finished lower weighed by Federal Bank, ICICI Bank and SBI. Conversely, Nifty Pharma index gained 3.54 per cent led by gains in Cadila Healthcare, Sun Pharma and Cipla.
Rating agency ICRA on Tuesday said that it was expecting the coronavirus to impact India Inc on multiple counts. The fallout of the virus could range from domestic demand slowdown, supply chain disruptions to foreign exchange rate fluctuations, among others. Icra Ratings on Tuesday sharply cut the country”s GDP forecast amid the COVID-19 crisis and expects the economy to grow at just 2 per cent in the current fiscal. It said the nationwide lockdown announced to contain the coronavirus outbreak has impacted industries and their operations have come to a standstill. “The Indian economy is likely to witness a sharp contraction of 4.5 per cent (de-growth) during Q4 FY20 and is expected to recover gradually, to post a GDP growth of just 2 per cent in FY21,” the rating agency said.