Carnage on Dalal Street as contagion risks spook global markets; Sensex, Nifty dive 3.60%

Black Friday: Stock markets on carnage as fears of virus spreading increased.

The rupee down 51 paise to 72.12 against the US dollar

Closing Bell

Domestic equity benchmark Sensex plummeted 1,450 points on Friday amid a massive sell-off in global equities as rising coronavirus cases outside China stoked fears of a pandemic that could dent world growth.

The 30-share index sank 1,448.37 points to 38,297.29, while the NSE Nifty cracked 414.10 points to 11,219.20.

All Sensex components ended in the red, led by losses in Tata Steel, Tech Mahindra, Infosys, Mahindra and Mahindra, Bajaj Finance, HCL Tech and Reliance Industries.

Asian stocks fell sharply lower on Friday, as Japan’s Nikkei sank to into correction territory as coronavirus fears continued to rattle global markets. Stock exchanges in Shanghai, Hong Kong, Seoul and Tokyo plunged up to 3.75 per cent.

According to analysts, till last week the market was of the view that coronavirus was going to have minimum impact on global economy as situation in China was being contained. But the increase in the number of new cases is changing the view and investors are worried about an intense slowdown.

Yesterday, on Wall Street, the Dow Jones Industrial Average dropped 1,190.95 points, its largest one-day point drop in history, bringing its loss for the week to 3,225.77 points, or 11.1 per cent.

 

 

 

NIFTY SECTORAL INDICES

NIFTY SECTORAL INDICES

 

 

3.05 pm

 

Sensex stocks

 

 

2.15 pm

Shriram Transport Finance to raise funds via debt securities

 

Shriram Transport Finance Company on Friday said that its planning to raise funds through the issuance of debt securities.

“The company is considering raising of funds through various options of borrowings including by way of issue of debt securities in onshore/offshore market by public issue and/or private placement basis and commercial papers,” Shriram Transport Finance company said in a filing to BSE

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1.55 pm

BSE SECTORAL INDICES

BSE SECTORAL INDICES

 

1.50 pm

Market sell-off: 1,767 stocks turn red, 274 defy trend on BSE

 

More than 1,700 BSE-listed stocks, mostly from the mid-cap and small-cap space, witnessed heavy sell-off on Friday, as equity markets crashed amid rising fears of the coronavirus outbreak turning into a pandemic.

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1.45 pm

Nifty Auto chart

 

 

12.45 pm

Coming soon: A deluge of bank IPOs

Small finance banks expected to tap the capital market with IPOs aggregating up to ₹6,000 crore

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12.30 pm

Heavyweighted stocks are all trading in the red today.

 

Sensex stocks

 

12.25 pm

 

 

12.20 pm

Nikkei, Hang Seng down 3%

 

The Nikkei has ended down 3.67% in Tokyo. In Sydney, the ASX200 finished off 3.2%. The Seoul Kospi ended 3.6% worse off. Hang Seng currently down 2.65%; Shanghai down 2.95%

The MSCI world index has fallen fell 0.6% and is down 9.4% this week. It’s on course for its biggest weekly decline since November 2008.

 

 

12.05 pm

NIFTY METAL STOCKS

NIFTY METAL STOCKS

 

 

12 Noon

Broker's call

 

Emkay Global

Apollo Tyres (Hold)

CMP: ₹150.3

Target: ₹175

Apollo Tyres plans to issue compulsorily convertible preference shares (CCPS) worth ₹1,080 crore to Emerald Sage Investment Ltd, an affiliate of Warburg Pincus, and use the proceeds for the repayment of high-cost borrowings. An extraordinary general meeting to obtain shareholder approval for the issuance is planned in March 2020.

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11.50 am

World faces coronavirus pandemic; markets brace for global recession

 

The world prepared for a coronavirus pandemic on Friday as hopes the disease could be contained to China vanished and investors dumped equities in expectation of a global recession.

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11.35 am

Aviation stocks plunge up to 10% on coronavirus fear

 

Shares of airline companies plunged up to 10 per cent on Friday as rating agency ICRA said the outlook for the aviation sector remains negative in the wake of coronavirus outbreak.

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11.05 am

ADVANCES AND DECLINES ON BSE

Over 83% of the total traded stocks showed declining trend today.  Out of the 2,122 shares traded on the BSE, declining stocks were higher at 1,765 and the advancers were 273 stocks, which was just 12% of the total traded stocks.

ADVANCES AND DECLINES ON BSE

 

SENSEX STOCKS

 

 

 

11 am

Initiate rupee long with stop-loss at 72.1

 

The rupee (INR) gained marginally yesterday where it closed at 71.56 versus its previous close of 71.66 against the dollar (USD). Thus, the Indian currency has closed with a gain for second consecutive day and inched above the resistance at 71.65.

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10.35 am

Rs 5 lakh cr investor wealth wiped off

Market benchmark Sensex plummeted over 1,100 points, wiping off over Rs 5 lakh crore investor wealth, in opening session on Friday amid a massive selloff in global equities as rising coronavirus cases outside China stoked fears of a pandemic that could dent world growth.

The 30-share index sank 1,100.27 points, or 2.77 per cent, to 38,645.39, while the NSE Nifty cracked 329.50 points, or 2.83 per cent, to 11,303.80,

All Sensex components were trading in the red, led by losses in Tata Steel, Tech Mahindra, Infosys, Mahindra and Mahindra, Bajaj Finance, HCL Tech and Reliance Industries.

In the previous session, the Sensex settled 143.30 points, or 0.36 per cent, lower at 39,745.66, and the Nifty fell 45.20 points or 0.39 per cent to end at 11,633.30.

According to analysts, till last week the market was of the view that coronavirus was going to have minimum impact on global economy as situation in China was being contained. But the increase in the number of new cases is changing the view and investors are worried about an intense slowdown.

Further, incessant selling by foreign investors is also spooking domestic market participants, traders said.

On a net basis, foreign institutional investors sold equities worth Rs 3,127.36 crore on Thursday, data available with stock exchanges showed.

Stock exchanges in Shanghai, Hong Kong, Seoul and Tokyo plunged up to 4 per cent in their morning sessions.

On Wall Street, the Dow Jones Industrial Average dropped 1,190.95 points, its largest one-day point drop in history, bringing its loss for the week to 3,225.77 points, or 11.1 per cent.

The S&P 500 has now plunged 12 per cent from the all-time high it set just a week ago.

World oil prices too tumbled by more than 4 per cent overnight as traders fretted about the impact of spreading coronavirus on crude demand, particularly from key consumer China.

Brent crude oil futures fell another 2.47 per cent to USD 50.45 per barrel early in the day. - PTI

 

10.15 am

 

BSE SECTORAL INDICES

 

10.10 am

 

10.05 am

NIFTY SECTORAL INDICES

 

 

10 am

Day Trading Guide for February 28, 2020

 

Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:

₹1199 • HDFC Bank

S1

S2R1R2COMMENT
1186117012131225Fresh long positions are recommended with a stiff stop-loss only if the stock rallies above ₹1,213 levels

 

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9.55 am

Overseas investors are pulling money out of emerging markets and have turned sellers of equities in Brazil, South Korea, and Taiwan.

Indian stock indices BSE Sensex and NSE Nifty 50 have fell 2.50% early as investors have sought safe havens.

Nevertheless, India managed to attract net foreign inflows this month.

FPIs remain bullish in India; pour in ₹23,102 crore in February

Staying bullish on Indian markets, overseas investors have pumped in a net amount of ₹23,102 crore in February so far, driven by positive sentiment ...

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Indian bonds see an inflow of ₹13,670 crore in February 2020

This is the highest monthly inflow since June 2017.

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9.50 am

Rupee down 25 paise against dollar

 

The rupee slips 25 paise to 71.86 against the US dollar in early trade.

 

9.45 am

Rupee dollar Futures

 

 

9.40 am

 

 

 

9.35 am

Havells India (₹638.7)

 

The stock of Havells India is showing signs of a recovery and so investors with short-term perspective can buy the stock.

After registering a lifetime high of ₹806.85 in June last year, the stock witnessed a trend reversal. The reversal was abrupt where the stock fell to ₹622 within a period of one month.

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9.30 am

Opening Bell

Indian benchmark indices sank on Friday in line with intense selloff in global equities amid rising concerns over Chinese coronavirus epidemic.

The BSE benchmark plunged over 700 points in opening session and fell further by 984.24 points, or 2.47 per cent, to 38,762.48.

Similarly, the NSE Nifty fell by 292.65 points, or 2.52 per cent, to 11,340.65.

All the heavyweighted stocks ended in the red. Tata Steel was the top loser in the Sensex pack, cracking  5 per cent, followed by Tech Mahindra, Bajaj Finance, Infosys, M&M, ONGC, Reliance, Titan, SBI, Asian Paints, HCL Tech and HDFC.

9.20 am

 

 

9.15 am

 

9.10 am

World stocks set for worst week since 2008 as coronavirus fears grip markets

 

Global share markets were headed for the worst week since the depths of the 2008 financial crisis as investors ditched risky assets on fears the coronavirus would become a pandemic and derail economic growth.

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9.10 am

Margin-squeezed MFs should get ready for volume game: G Mahalingam

The mutual fund industry should gear up to play the volume game rather than targeting higher margins as the investor base is set to widen overtime with the better market penetration.

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9.05 am

The BSE Benchmark Sensex was down 658 points to 39,087.47 at pre-open session.

Published on February 28, 2020