Market LIVE: Sensex ends 1,375 pts down as sell-off deepens in last hour; Fitch cuts India GDP growth forecast

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Updated:Mar 30, 2020 3:41:26 pm

Share Market News Today | Sensex, Nifty, Share Prices LIVE: HDFC, Tata Steel and ICICI Bank were among other Sensex losers. Barring Nifty FMCG and Pharma index, all the sectoral indices finished in red.

Share Market Today, Share Market LiveAll 30 Sensex stocks were trading in deep sea of red with IndusInd Bank as the top loser, down 10 per cent at Rs 369, followed by Bajaj Finance, M&M and ONGC

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market bechmarks Sensex and Nifty settled nearly 5 per cent lower on Monday tracking weak global cues on the back of rising coronavirus cases across the globe. S&P BSE Sensex ended 4.6 per cent or 1,375 points lower at 28,440, while the broader Nifty 50 index finished 370 points or 4.28 per cent at 8,289. Six stocks out of 30 Sensex stocks settled in a positive territory today, with Nestle India as the top gainer, up 4.49 per cent, followed by Tech Mahindra, Axis Bank and HUL. Conversely, Bajaj Finance was the top Sensex laggard, down 12 per cent to Rs 2,243. HDFC, Tata Steel and ICICI Bank were among other Sensex losers. Barring Nifty FMCG and Pharma index, all the sectoral indices finished in red. Nifty Bank index dropped 6 per cent dragged by Bandhan Bank, Federal Bank and HDFC Bank. While Nifty Pharma index gained 1.36 per cent, led by Cipla, Lupin and Dr. Reddy’s

Fitch Solutions on Monday slashed its estimate for India’s GDP growth in the fiscal starting April 1 to 4.6 per cent due to weaker private consumption and contraction in investment amid coronavirus outbreak, costing economies around the globe. The growth estimate for 2020-21 fiscal (April 2020 to March 2021) compares with a 4.9 per cent forecast in the current 2019-20 that ends on Tuesday.

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Highlights

    15:15 (IST)30 Mar 2020
    Fitch Solutions cuts India GDP growth forecast to 4.6% for FY21

    Fitch Solutions on Monday slashed its estimate for India's GDP growth in the fiscal starting April 1 to 4.6 per cent due to weaker private consumption and contraction in investment amid coronavirus outbreak, costing economies around the globe, PTI reported.

    15:00 (IST)30 Mar 2020
    Sensex, Nifty at day's low

    Headline indices were trading at day's low levels. S&P BSE Sensex was trading at 28,377.03, down 1,438.56 points or 4.82 per cent, while broader Nifty 50 index was ruling at 8267, down 392 points or 4.53 per cent.

    Check Sensex, Nifty live levels

    14:56 (IST)30 Mar 2020
    Strong economy may prevent India from recession; almost all G20 countries can face economic contraction

    As the spread of coronavirus is still unchecked and the disruptions in economic activities are not expected to end anytime soon, most of the countries may enter into a recession. Except for three countries, all of the G20 countries are expected to bear the pain of a recession, according to the Economist Intelligence Unit.

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    14:32 (IST)30 Mar 2020
    GAIL, ONGC and BPCL gain on NSE

    Public-sector companies, GAIL, ONGC and BPCL are up by 2%, 1.9% and 0.84%, respectively on the National Stock Exchange (NSE).

    14:23 (IST)30 Mar 2020
    Future Retail hits lower circuit yet again.

    Future Retail on Monday hit its lower circuit for the sixth-consecutive trading session as the share price tumbled to Rs 82.85, down from Rs 294 per share, where it stood a little over a month ago.

    14:04 (IST)30 Mar 2020
    IRCTC share price hits 5% upper circuit; this brokerage sees over 40% upside, check new target price

    IRCTC share price hits 5 per cent upper circuit to Rs 944.10 apiece on BSE in Monday’s trade even as India has been placed under 21-day lockdown in order to prevent the fast-spreading coronavirus. Last week, Indian Railway Catering and Tourism Corporation (IRCTC) shares were locked into lower circuit at Rs 815.60 due to the cancellation of passenger train services, a slump of nearly 60 per cent from its record high of Rs 1,995 touched in the second month of this year.

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    13:48 (IST)30 Mar 2020
    Businesses hit by coronavirus may take months to return to normalcy, even if lockdown lifts in 21 days

    Even as Cabinet Secretary Rajiv Gauba said that there is no plan to extend the ongoing lockdown beyond 21 days, businesses may have to wait for a long time to erase the scar made by the Covid-19 pandemic. The businesses facing a wallop due to slump in demand and zero footfall in the market may take up to 6 months to come back to normalcy, according to a FICCI survey.

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    13:16 (IST)30 Mar 2020
    Fidelity looks for contra buying in India as heavy share market selling offers quality stocks on discount sale

    Fidelity International is waiting to pounce on and grab the opportunity to buy shares in China and India as indiscriminate selling of high quality names is making way for attractive valuations.
     

    13:11 (IST)30 Mar 2020
    ‘Removing regulatory speed bumps for app-based cab services can make India leader in mobility space’

    As per a year-end ridership analysis, while users travelled billions of kilometres in 2019 using the app-based ride-hailing platforms, a lot of riders in Mumbai, Surat, and Ahmedabad preferred them for their early morning trips. The trend suggests the potential role, app-based cab services can play in enabling a reliable mobility network in the country.

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    12:59 (IST)30 Mar 2020
    Tech Mahindra top Sensex gainer, up 3.5% in weak market

    Out of 30 Sensex stocks, seven stocks were trading in green with Tech Mahindra as the top index gainer, up 3.5 per cent to Rs 521 apiece, followed by HUL, TCS, ITC and Nestle India.

    Check live prices: Tech Mahindra

    12:29 (IST)30 Mar 2020
    These 9 stocks on NSE, 16 on BSE hit 52-week highs even with Sensex, Nifty in strong bear grip

    Stock market benchmarks Sensex and Nifty continued to be in tight grip of the bears, as Sensex and Nifty dropped more than 3 per cent in the opening deals on Monday. Stock markets, however, have trimmed some of the morning losses, but were still trading lower in noon deals. The 30-share index Sensex was trading in range at 29,193 down 622 points or 2.09 per cent while the broader Nifty 50 index was ruling 175 points or 2.02 per cent lower at 8,489, down 170 points or 1.97 per cent.

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    11:58 (IST)30 Mar 2020
    Bankruptcy deadlines relaxed: IBC activity falling behind during lockdown can be finished later

    Insolvency and Bankruptcy Board of India (IBBI) has announced to exclude the period of lockdown from any IBC activity proceedings. If an IBC activity was to be carried out during the 21 days of lockdown announced by the centre, it can be dealt after 15 April 2020. The decision is taken after considering the difficulty for the insolvency professionals to continue to conduct the process, for members of the committee of creditors to attend the meetings, and for prospective resolution applicants to prepare and submit resolution plans, during the period of lockdown.

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    11:33 (IST)30 Mar 2020
    Sensex, Nifty trade in range

    S&P BSE Sensex was trading in range on Monday at 29,169.07  down 646.52 points or 2.17 per cent while the broader Nifty 50 index was ruling 175 points or 2.02 per cent lower at 8,485.

    Check live Sensex, Nifty levels

    11:20 (IST)30 Mar 2020
    Coronavirus pandemic: US stimulus package is biggest ever, but may not be big enough

    The Federal Reserve has offered more than $3 trillion in loans and asset purchases in recent weeks to stop the U.S. financial system from seizing up, but it has not yet directly helped large swaths of the real economy: companies, municipalities and other borrowers with less than perfect credit.

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    11:10 (IST)30 Mar 2020
    What’s dragging Sensex, Nifty today

    Domestic equity market benchmarks Sensex and Nifty, plunged on Monday as the cases of the novel coronavirus increased over the weekend in India and elsewhere. In the opening trade on Monday, the 30-share index Sensex dropped 1,000 pts to 28,708, while the broader Nifty 50 index fell below 8,350 levels. All 30 constituents of the S&P BSE Sensex were in deep sea of red with IndusInd Bank down over 10 per cent in the initial trade, followed by Bajaj Finance and M&M.

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    11:01 (IST)30 Mar 2020
    Sun Pharma share price falls over 3%, product approvals to take a hit after USFDA initiates action

    Pharma giant Sun Pharma saw its share price fall by 3.6% during the early hours of trade on Monday as investors reacted to the news of USFDA classifying the Halol facility of the company as Official Action Indicated.
     

    10:48 (IST)30 Mar 2020
    Oil prices at 17-year lows as coronavirus ravages world

    Oil prices extended losses in Asian trade Monday and languished at 17-year lows, with the coronavirus crisis escalating around the world and no end in sight to a vicious price war. US benchmark West Texas Intermediate fell 5.3 percent to trade at $20 a barrel, while international benchmark Brent crude was off 6.5 percent at $23.

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    10:43 (IST)30 Mar 2020
    TCS, HUL lead Sensex pack; Nifty Pharma index gains 1.63%

    As many as 24 stocks out of 30 Sensex stocks were trading in red. IT stocks such as Tech Mahindra, TCS and HUL were leading on the index. However, Bajaj Finance was the top Sensex loser, down 8.25 per cent, followed by M&M and HDFC. Most of the Nifty sectoral indices were trading in a negative territory. Nifty Pharma index was trading 1.63 per cent higher led by gains in Cipla, Dr, Reddy’s and Lupin. On the flip side, Nifty Bank index was down 2.17 per cent, weighed by weakness in IDFC First Bank, RBL Bank and Federal Bank.

    10:30 (IST)30 Mar 2020
    Investors lose Rs 1.42 lakh crore in initial trade

    The market capitalisation of all BSE-listed companies stood at Rs 1.11 lakh crore on Monday morning, down from Rs 1.12 lakh crore on Friday. In the initial trade, investors lost around 1.42 lakh crore worth wealth.

    10:23 (IST)30 Mar 2020
    All Nifty Auto constituents trading in the red

    Nifty Auto is down 4% as various auto manufacturers close factories due to the 21-day lockdown. Mahindra and Mahindra is the biggest loset on the index, down by over 6%. 

    10:08 (IST)30 Mar 2020
    Gold sentiment to remain weak: Jigar Trivedi, Anand Rathi Shares and Stock Brokers

    MCX Gold edged lower although IMF has warned of recession. COMEX prices edged lower slightly as the U.S dollar has rebounded from a two-week low. However coronavirus lockdowns tightened across the world and stoked fears of economic damage which has boosted safe haven demand. Overall sentiment will be weak since last week gold witnessed more than 8% gains, there is a possibility of profit booking, says Jigar Trivedi, Fundamental Research Analyst - Commodities, Anand Rathi Shares and Stock Brokers.

    10:07 (IST)30 Mar 2020
    Sun Pharma share price falls 2%

    Pharma major, Sun Pharma has been classified as Official Action Indicated (OAI) by the USFDA. This is affect the company as no new approvals will be given to the firm before pending observations are cleared.

    10:01 (IST)30 Mar 2020
    Delta Corp Ltd hits upper circuit

    Delta Corp Ltd share price hit an upper circuit on Monday morning as the stock surged up 5%. The company had on Saturday announced that its board has approved ashare buy-back plan. Delta COrp will buy share back at a maximum price of Rs 100 per share.

    09:46 (IST)30 Mar 2020
    Nifty IT index gains ground

    Nifty IT index gained over half a per cent in an otherwise weak market. Tech Mahindra, MindTree, TCS and Infosys were the top gainers on the index.

    Check live prices: TCS

    09:39 (IST)30 Mar 2020
    Sugar stocks extend gain, KCP Sugar and Industries Corporation surges 20%

    Sugar stocks extend gain after government approves ethanol-based hand sanitizers. KCP Sugar and Industries Corporation gained 20%, E.I.D Parry shares up 13%, and Balrampur Chini Mills shares were trading over 8 per cent higher.

    09:32 (IST)30 Mar 2020
    Top stocks dragging the 30-share index Sensex down

    HDFC Bank, HDFC, Reliance Industries (RIL), Kotak Bank and ICICI Bank shares were among major contributors towards today's fall.  

    09:30 (IST)30 Mar 2020
    TCS, ITC share price gain ground in weak market

    TCS, ITC shares were the only gainers out of 30 Sensex stocks in an otherwise weak market. Bajaj Finance was the top Sensex loser, down over 9 per cent to Rs 2323 apiece.

    Check live prices: TCS

    09:27 (IST)30 Mar 2020
    RBL Bank, IDFC First Bank, Bandhan Bank top losers on Nifty Bank index

    All the sectoral indices were trading in a negative territory. NIfty Realty Index was down nearly 4 per cent, while Nifty Bank index dropped 3.25 per cent or 660 points dragged by RBL Bank, IDFC First Bank and Bandhan Bank.

    09:22 (IST)30 Mar 2020
    Nifty Bank leads down by 3.58%

    IndusInd Bank and IDFC First Bank were down 10% and 8% respectivelly, pulling the sectoral index down in the opening minutes of trade.

    09:22 (IST)30 Mar 2020
    IndusInd Bank share price down 10%

    All 30 Sensex stocks were trading in deep sea of red with IndusInd Bank as the top loser, down 10 per cent at Rs 369, followed by Bajaj Finance, M&M and ONGC.

    Check live prices: IndusInd Bank

    09:21 (IST)30 Mar 2020
    Sensex, Nifty drop 3 per cent in opening trade

    S&P BSE Sensex was trading 900 points or 3.04 per cent lower at 28,908, while the broader Nifty 50 index was ruling at 8,375, down 284 points or 3.29 per cent.

    Check live Sensex, Nifty levels

    09:06 (IST)30 Mar 2020
    Rupee opens lower against US dollar on Monday

    The Indian rupee opened lower at 75.18 a dollar as agianst the Friday's close of 74.89 a dollar

    09:05 (IST)30 Mar 2020
    Sensex, Nifty trade lower in pre-opening session

    Sensex and Nifty were trading lower in the pre-opening session. S&P BSESensex was down 236 points or 0.79 per cent at 29,579 while the Nifty50 down 301 points or 3.48 per cent at 8,359.

    Check live Sensex, Nifty levels

    08:58 (IST)30 Mar 2020
    Covid-19 impact: Centre’s FY21 fiscal deficit seen at 5% or higher

    If the budgetary expenditure for FY21 has to be maintained at the same level as budgeted, the Centre will have to allow a huge fiscal slippage from the budgeted 3.5% of the GDP and incur a fiscal deficit of 5% or higher, owing to the Covid-19 fallout of a much-reduced economic growth and consequent sluggishness in tax receipts.

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    08:42 (IST)30 Mar 2020
    FII and DII data

    Foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 356 crore on while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,704 crore on Friday, according to the NSE data.

    08:34 (IST)30 Mar 2020
    All PSU bank merger schemes to come into force on April 1: RBI

    Meeting the schedule for the amalgamation, the merger scheme for all the 10 public sector lenders into four bigger and stronger banks will come into force on April 1. The country’s central bank, the Reserve Bank of India, on Saturday said all branches of Oriental Bank of Commerce and United Bank of India will function as branches of Punjab National Bank, the anchor bank, from April 1. 

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    08:31 (IST)30 Mar 2020
    Clear we have entered recession: IMF chief Kristalina Georgieva

    The coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help developing nations, IMF chief Kristalina Georgieva said Friday. “It is clear that we have entered a recession” that will be worse than in 2009 following the global financial crisis, she said in an online press briefing.

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    08:21 (IST)30 Mar 2020
    Asian markets slid on Monday

    Asian shares slid on Monday as fears mounted that the global shutdown for the novel fast-spreading coronavirus (COVID-19) could last for months, doing untold harm to economies. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.2%, while South Korea shed 2.7%.

    08:14 (IST)30 Mar 2020
    SGX Nifty suggests gap-down opening for Sensex, Nifty

    Trends on SGX Nifty indicate a negative start for Sensex and Nifty with a 200 points loss. The Nifty futures were trading at 8,417 on the Singaporean Exchange.

    08:13 (IST)30 Mar 2020
    Sensex, Nifty settled lower on Friday

    S&P BSE Sensex ended 131 points or 0.44 per cent down at 29,815, while the broader Nifty 50 index settled at 8,660, up 18 points or 0.22 per cent.

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