Stock Market Today Updates: Sensex gains 1,325 points to end at 34,103; Nifty rallies 365 points to 9,955; Tata Steel, SBI among top gainers

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Stock Market Today Updates:  Sensex gains 1,325 points to end at 34,103; Nifty rallies 365 points to 9,955; Tata Steel, SBI among top gainers
  • 15:40 (IST)

    Sensex, Nifty ends day with gains

    Sensex ended the day with gains of 1,325.34 points or 4.04 percent at 34103.48, and the Nifty surged 433.55 points or 4.52 percent at 10023.70.

    State Bank of India, Tata Steel and HDFC are the top gainers while SBI, Reliance Industries and HDFC Bank are the most active stocks.

  • 14:13 (IST)

    Govt, RBI to take all necessary steps to quell 'fear sentiment' around coronavirus: CEA

    The government and the RBI will take all necessary steps to quell the "fear sentiment" created due to coronavirus, Chief Economic Advisor Krishnamurthy Subramanian said on Friday. 

    He said the fall in Indian stock indices is lower than the decline witnessed globally and the situation in India will stabilise over the next few weeks as focus shifts to economic fundamentals like declining inflation, growing industrial production and adequate forex reserves. 

     "The government is seriously considering and looking at all aspects of this situation and the government together with the regulator will definitely respond when it is necessary. Market reaction is not reflecting fundamentals, fundamentals (of Indian economy) are improving," Subramanian told reporters here.

  • 13:45 (IST)

    Stimulus hopes pull global stocks back from abyss

    Stocks plunged on Friday with coronavirus panic selling hitting nearly every asset class before finding some kind of floor as hopes turned to a US stimulus package.

    European and US stock futures traded in positive territory and some of Asia’s deepest losses were recovered by the end of a session, in which tight liquidity exaggerated moves.

    Japan's Nikkei fell 10 percent before paring the drop to close 6 percent lower. Australia's S&P/ASX200 had its wildest trading day on record, falling past 8 percent before surging in the last minutes of trade to settle 4.4 percent higher after the close.

  • 13:26 (IST)

    Sensex, Nifty recover from previous lows

  • 13:23 (IST)

    Rupee reclaims lost ground, spurts 36 paise in mid-session

    The Indian rupee staged a recovery in the afternoon session on Friday, trading 36 paise higher against the US dollar, after the Reserve Bank stepped in to maintain sufficient liquidity in the panic-stricken currency market.

    Seeing the heavy rush for the US dollar among participants, the RBI announced liquidity measures such as buy-sell swap of USD 2 billion to increase dollar availability with banks and ease pressure on the rupee.

    At the interbank foreign exchange, the rupee opened at 74.39 and went on to hit the day's low of 74.50 against the US dollar as investors panicked weighing turmoil in financial markets globally due to coronavirus pandemic

  • 13:17 (IST)

    Gold futures fall on weak global cues

    Gold prices on Friday fell by Rs 353 to Rs 41,853 per 10 gram in futures trade as participants cut down their positions tracking a weak trend overseas.
       

    On the Multi Commodity Exchange, gold prices for April delivery fell by Rs 353, or 0.84 percent, to Rs 41,853 per 10 gram in a business turnover of 4,338 lots.

    The yellow metal for June delivery declined by Rs 432, or 1.01 percent, to Rs 42,391 per 10 gram in 996 lots.  Analysts said subdued overseas cues influenced sentiments here.
     

    Globally, gold was trading 0.17 percent lower at $1,587.60 per ounce in New York. 

  • 12:52 (IST)

    Asian shares plunge; trim losses later after Wall Street sell-off

    Asian shares plunged, then recovered slightly as Friday the 13th brought still more turmoil to markets reeling from uncertainty over the coronavirus crisis.

    Benchmarks in Japan, Thailand and India sank as much as 10 percent following Wall Street's biggest drop since the Black Monday crash of 1987. Tokyo's Nikkei 225 fell nearly 6 percent.  Sensex swayed between gains and losses after a 10 percent crash briefly halted trading. In Bangkok, the Thailand SET gained 0.5 percent after a temporary suspension of trading earlier in the day.

    Markets worldwide have retreated as fears of economic fallout from the coronavirus crisis deepen and the meltdown in the US, the world's biggest economy, batters confidence around the globe.

  • 12:45 (IST)

    Markets at a glance

  • 12:37 (IST)

    SBI shares up

    SBI's executive committee of the central board on Thursday approved the purchase of 725 crore shares in private sector lender Yes Bank at a price of Rs 10 per share.

  • 12:31 (IST)

    Stock market reaction not reflecting fundamentals: CEA

Stock Market Today LATEST Updates: Sensex ended with gains of 1,325.34 points or 4.04 percent at 34103.48, and the Nifty surged 433.55 points or 4.52 percent at 10023.70. State Bank of India, Tata Steel and HDFC are the top gainers while SBI, Reliance Industries and HDFC Bank are the most active stocks.

The NSE Nifty 50 index was up 1.1 percent at 9,672.9 by 0521 GMT, while the benchmark S&P BSE Sensex traded up 1 percent at 33,213.19.

Trading in India’s main Nifty 50 stock index was halted early on Friday after it fell 10 percent and hit a “circuit-breaker”, as investors continued to panic over the impact of the fast-spreading coronavirus outbreak on global growth.

The blue-chip NSE Nifty 50 index was last down 10.07% at 8,624.05 at 0351 GMT, a more than three-year low. Trading was scheduled to resume after 45 minutes.

Sensex plummeted over 3,200 points and the broader Nifty sank near 8,600 level, hitting their lower circuit limits, in the opening session on Friday as coronavirus pandemic-led recession fears fuelled worldwide panic.

Manic selling across the globe rendered stocks at multi-year lows.

Continuing its downward spiral, domestic BSE Sensex sank 3,213 points in early trade, plummeting 10.86 percent to 29,564.58, which triggered the lower circuit limit. Similarly, the NSE Nifty cracked 966.10 points, or 10.07 percent, to 8,624.05.

In the previous session, the 30-share BSE barometer settled 2,919.26 points or 8.18 percent lower at 32,778.14, and the broader Nifty slumped 868.25 points or 8.30 percent to close at 9,590.15.

All Sensex components were in the red. HCL Tech was the top loser, tanking up to 15 per cent, followed by Tech Mahindra, Kotak Bank, TCS, IndusInd Bank, Axis Bank and NTPC.

On a net basis, foreign institutional investors sold equities worth Rs 3,475.29 crore on Thursday, data available with stock exchanges showed.

According to traders, volatility heightened in global markets as benchmarks world over went into panic mode, insinuating a freakish selloff.

Wall Street lost 10 percent in its worst session since 1987, while London also had its worst day since that year.

Frankfurt had its blackest day since 1989, the year the Berlin Wall fell, while Paris suffered its worst one-day loss on record.

Besides selloff in global equities, choppiness in international oil prices and depreciating rupee added to investor concerns, they added.

Brent crude oil futures dropped 0.90 percent to $32.92 per barrel.

Further, incessant foreign fund outflow also spooked market participants, traders said.

Elsewhere in Asia, bourses in Shanghai dropped over 3.32 percent, Hong Kong 5.61 percent, Seoul 7.58 percent and Tokyo cracked up to 7.97 percent.

More than 130,000 cases of the novel coronavirus have been recorded in 116 countries and territories, killing at least 4,900 people.

The number of coronavirus patients in India has risen to 74, as per the health ministry log.

Updated Date: Mar 13, 2020 15:48:15 IST



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