COVID-19: Sensex, Nifty ends at 3 year low

20:01 March 16

Reliance Industries m-cap plunges Rs 58,091.87 cr in a day

A sharp plunge in the share price of Reliance Industries Limited, the country's most valued firm, wiped out Rs 58,091.87 crore from its market valuation in just a day.

The market bellwether's scrip plummeted 8.28 per cent to close the day at Rs 1,015.25 on the BSE. During the day, it dropped 9.15 per cent to Rs 1,005.55.

Led by the plunge in the scrip, Reliance Industries, the oil-to-telecom conglomerate, suffered a massive erosion of Rs 58,091.87 crore from its valuation which now stands at Rs 6,43,594.13 crore on the BSE.

19:30 March 16

Brazil stocks plunge, trading halted in virus havoc

The Sao Paulo stock exchange plummeted 12.5 percent shortly after opening Monday, triggering a suspension of trading for the fifth time in a week as the coronavirus pandemic continued to roil global markets.

The automatic circuit breakers that halt trading in case of sudden plunges in Latin America's biggest stock market have been getting a regular workout as the pandemic batters the Brazilian economy, which is closely tied to China's and highly sensitive to global market swings.

19:24 March 16

Investors get poorer by Rs 7.62  lakh cr as coronavirus fears deepen

Investors' wealth eroded by Rs 7.62 lakh crore as markets witnessed yet another sharp fall, with the Sensex plunging 2,713.41 points as coronavirus scare continued to hit market sentiment.

The market capitalisation of BSE-listed companies dropped by Rs 7,62,290.23 crore to Rs 1,21,63,952.59 crore at the close of trade.

19:24 March 16

Rupee plunges 50 paise to 74.25 against US dollar amid coronavirus uncertainty

The Indian rupee continued its downward spiral and plunged 50 paise to 74.25 (provisional) against the US dollar as concern over the economic fallout from the coronavirus pandemic outweighed the US Fed's emergency interest rate cut and the RBI's liquidity enhancing measures.

At the interbank foreign exchange market, the local currency opened at 74.10. During the day, it saw a high of 74.09 and a low of 74.35 against the American currency.

The domestic unit finally settled at 74.25 against the greenback, down 50 paise over its previous close.

19:21 March 16

Yes Bank shares bounce back sharply; zoom over 45 pc

Yes Bank shares jumped sharply by over 45 per cent after announcement of a restructuring plan.

The scrip witnessed a strong comeback and zoomed 45.21 per cent to close at Rs 37.10 on the BSE. During the trade, it climbed 58.12 per cent to Rs 40.40. At the NSE, it rose sharply by 45 per cent to close the day at Rs 37.05.

Led by the sharp gain in share price, the company's market valuation rose by Rs 2,946.25 crore to Rs 9,462.25 crore on the BSE.

19:19 March 16

Stock trading resumes in the US Market

Stock trading resumed in the US Market after a halt for 15 minutes after S&P fell 7 per cent.

19:08 March 16

Stock trading halted in the US Market

Stock trading has been halted for 15 minutes in the US Market after S&P fell 7 per cent.

16:23 March 16

Biggest fall in Sensex

Gold prices rally Rs 455 on rupee depreciation, global cues

Gold prices on Monday jumped by Rs 455 to Rs 41,610 per 10 gram in the national capital amid rupee depreciation and recovery in global prices, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 41,155 per 10 gram.

Silver prices, however, dropped by Rs 1,283 to Rs 40,304 per kg from Rs 41,587 per kg in the previous trade.

"Spot gold for 24 karat in Delhi was trading up by Rs 455 with rupee depreciation and recovery in global gold prices. The spot rupee was trading around 36 paise weaker against the dollar during the day," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In the global market, gold was quoting with gains at USD 1,539 per ounce, while silver was trading flat at USD 15.65 per ounce.

Domestic equity benchmark Sensex plummeted over 2,700 points on Monday as the impact of Covid-19 on world economy prompted investors to go for safe haven assets.

According to Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services, "Gold prices rose nearly 3 per cent, following a steep decline in the previous session, as the dollar and global equities fell sharply."

16:19 March 16

Sensex 30 view

 All Sensex components ended in the red. IndusInd Bank was the top loser, followed by Tata Steel, HDFC, ICICI Bank, Axis Bank, Infosys and ITC.

15:29 March 16

Sensex movement on Tuesday, Source: Google

Sensex sinks 2,700 points amid recession fears

Amid fears of global recession triggered by COVID-19 spread, 30-share BSE Sensex plunged over 2,713 points on Monday in its second biggest one-day fall in absolute terms.

While Sensex closed at 31,390.07, much broader Nifty lost 758 points to close at 9,197.10.

This was the second biggest drop for the benchmarks in absolute terms.

14:47 March 16

sensex movement at 2:45, Source: Google

Sensex dropped 2,404 points or 7.05 per cent to trade at 31,699.32 at 2:45 pm and the NSE Nifty was trading 681.10 points lower or 6.84 per cent to 9,274.10.

14:13 March 16

sensex movement till 2 pm, Source:Google

Sensex dropped 2,266 points or 6.65  per cent to trade at 31,836.86 at 2:09 pm.

13:36 March 16

12:42 March 16

Gold futures rise Rs 678 to Rs 41,026 per 10 gm

Gold prices on Monday rose by Rs 678 to Rs 41,026 per 10 gram in futures trade as speculators were indulged in creating fresh positions amid a firm global trend.

On the Multi Commodity Exchange, gold contracts for April traded higher by Rs 678, or 1.68 per cent, to Rs 41,026 per 10 gram in a business turnover of 3,833 lots.

12:19 March 16

P. Chidambaram's reaction on market

PVR, INOX Leisure plunge up to 19%

Shares of multiplex operators on Monday fell sharply by up to 19 per cent after various states announced closure of cinema halls till March 31 in view of Covid-19 outbreak.

PVR tumbled 18.85 per cent to its 52-week low of Rs 1,045.85, and INOX Leisure plunged 14.77 per cent to hit its day's low of Rs 270 on the BSE.

In view of coronavirus threat, several states have announced to close cinema halls till March 31.

12:14 March 16

Yes Bank shares bounce back, zoom over 58%

Shares of Yes Bank on Monday jumped sharply by over 58 per cent after  the union cabinet on Friday approved reconstruction scheme for the stressed lender.  

The scrip witnessed a strong comeback and zoomed 58.12 per cent to Rs 40.40 on the BSE.  

On the NSE, it climbed 58.12 per cent to Rs 40.40.

11:25 March 16

volatility heightened in global markets

According to traders, volatility heightened in global markets as US Federal Reserve's interest rate cut stoked concerns over an impending economic recession.

Faced with a growing economic shutdown amid the new coronavirus (Covid-19) pandemic, the US Fed on Sunday made its second emergency rate cut in less than two weeks, cutting the benchmark borrowing rate to a range of 0-0.25 percent, where it was during the 2008 global financial crisis.

US stock futures fell sharply after the Federal Reserve slashed interest rates.

Further, Bank of Japan (BOJ) convened an emergency policy meeting after the Fed rate cut. A BOJ statement said the meeting was “to discuss monetary control matters based on recent economic and financial developments."

Japan's Nikkei was the sole Asian benchmark that did not lose ground early Monday.

Elsewhere in Asia, Shanghai Composite Index, Hang Seng and Kospi fell up to 2 per cent.

Incessant foreign fund outflow also kept market participants on edge, traders said.

On a net basis, foreign institutional investors sold equities worth Rs 6,027.58 crore on Friday, data available with stock exchanges showed.

11:06 March 16

Sensex down by 1500 points, Source: Google

Sensex down by 1500 points, trading 4.43 per cent at 32,592 at 11:04 am.

10:52 March 16

Yes Bank to be excluded from Nifty 50, Nifty bank from Mar 19

Troubled private lender Yes Bank will be dropped from benchmark index Nifty 50, banking index Nifty bank and other Nifty indices from March 19, NSE Indices said on Monday.

Earlier, the changes were scheduled to happen on March 27, NSE Indices, a subsidiary of the National Stock Exchange (NSE), said in a statement.

However, in light of the recent developments relating to Yes Bank and its reconstruction scheme, NSE Indices' Index Maintenance Sub-Committee (IMSC) has decided to accelerate the removal of Yes Bank from Nifty 50 and Nifty Bank and also remove it from all Nifty equity indices from Thursday, March 19.

Shree Cement will replace the private lender in Nifty 50 and in Nifty bank index, Bandhan Bank will find a place.

10:49 March 16

SBI Cards make weak debut at bourses; plunge nearly 13%

Shares of SBI Cards and Payment Services made a weak debut at the bourses on Monday, plunging nearly 13 per cent, against its issue price of Rs 755.

The scrip listed at Rs 658, dropping 12.84 per cent from the issue price on the BSE.

On the NSE, it slumped 12.45 per cent after opening to Rs 661.

The company's market valuation stood at Rs 69,811.44 crore on the BSE.

The drop in the company's scrip was in line with a weak broader market sentiment, where the BSE benchmark was trading over 2,000 points lower.

In traded volume terms, 17.65 lakh shares were traded on the BSE and 2.6 crore shares on the NSE in early trade.

10:35 March 16

Investor wealth erodes by Rs 6.25 lakh crore on coronavirus scare

Investor wealth worth Rs 6.25 lakh crore was wiped off in early morning trade on Monday as markets witnessed yet another sell-off, with the BSE benchmark plunging 2,182.41 points as Covid-19 scare continued to hit sentiment.

The market capitalisation of BSE-listed companies dropped by Rs 6,25,501.8 crore to Rs 1,23,00,741.02 crore in the opening trade.

The drop in investor wealth was led by extremely weak market sentiment, where the BSE Sensex witnessed another plunge after staging a strong comeback on Friday. 

10:12 March 16

Rupee plunges 45 paise to 74.20 against US dollar in early trade

The Indian rupee plunged 45 paise to 74.20 against US dollar in early trade on Monday tracking weak opening in domestic equities and sustained foreign fund outflows.

Forex traders said investors are on tenterhooks amid mounting fears of a coronavirus-led economic slowdown, even after the Reserve Bank stepped in to maintain sufficient liquidity in the panick-stricken currency market.

The rupee opened weak at 74.10 at the interbank forex market and then fell further to 74.20, down 45 paise over its last close.

Meanwhile, Brent crude oil futures plunged over 2.98 per cent to USD 32.84 per barrel.

10:05 March 16

Top gainers and losers

Top gainers and losers

All Sensex components were trading in the red. IndusInd Bank was the top loser, tanking up to 12 per cent, followed by ICICI Bank, HDFC, Axis Bank, Titan, Tata Steel and Bajaj Finance.

According to traders, volatility heightened in global markets as US Federal Reserve's interest rate cut stoked concerns over an impending economic recession.

Faced with a growing economic shutdown amid the new coronavirus (Covid-19) pandemic, the US Fed on Sunday made its second emergency rate cut in less than two weeks, cutting the benchmark borrowing rate to a range of 0-0.25 percent, where it was during the 2008 global financial crisis.

US stock futures fell sharply after the Federal Reserve slashed interest rates.

Meanwhile, the Reserve Bank of India on Friday said it is closely monitoring the current global situation and assured that it will take all steps to keep markets adequately liquid and stable.

09:59 March 16

Yes bank shares at NSE, Source: Google

Yes bank gains almost 45%

Yes Bank Limited on the National stock exchange is trading at 44.81 per cent higher or 11.45 points at 37.00 at 9:57 am, despite reporting a net loss of Rs 18,564 crore for the Q3 FY20 quarter.

09:36 March 16

Sensex movement at 9:36 am, Source: Google

Sensex lost 2,000 points

The 30-share index was down 2,125 points, or 6.23 per cent, at 31,976 and the NSE Nifty was 547.85 points lower or 5.50 per cent at 9,407.35 at 9:36 am.

08:59 March 16

After a volatile week, Sensex opens in the Red

Mumbai: After a volatile session on Friday, stock market opened in the red. While Sensex lost 1,600 points and the Nifty lost over 450 points at the opening of the market.

The 30-share index was down 1,612 points, or 4.73 per cent, at 32,490.

The BSE Sensex was trading at 1,325.34 points or 4.69 per cent higher at 34,103.48 and the NSE Nifty on the National Stock Exchange was trading at 9,955.20, higher by 365.05 points or3.81per cent in the previous closing.

(Inputs from Agencies)