Stock Market Today Updates: Sensex gains 1,325 points to end at 34,103.48; Nifty rallies 365 points to 9,955
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.