ETV Bharat / business

LIVE: Investor wealth rises by Rs 3.55 lakh cr on stock markets recovery

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Published : Mar 13, 2020, 9:42 AM IST

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Updated : Mar 13, 2020, 7:35 PM IST

BSE

BSE

19:34 March 13

Investor wealth rises by Rs 3.55 lakh cr on stock markets recovery

Collective investor wealth in BSE-listed companies grew over Rs 3.55 lakh crore as benchmarks recovered after crashing over 10 per cent during the day.

The mayhem on Dalal Street had eroded investor wealth worth Rs 12,92,479.88 crore, taking the total m-cap to Rs 1,12,78,172.75 crore on the BSE in early trade.

However, as stocks pared the losses, investor wealth grew by Rs 3,55,590.19 crore, taking the total market capitalisation of BSE-listed companies to Rs 1,29,26,242.82 crore at the end of the session.

19:33 March 13

Rupee rebounds 48 paise to 73.80 a dollar on RBI assurance

Rebounding from its record low of 74.50, the rupee traded higher by 48 paise at 73.80 against the US currency after the Reserve Bank's assurance that steps will be taken to maintain sufficient liquidity in the panick-stricken currency market.

At the interbank foreign exchange, the rupee opened lower at 74.39 and slid further to the day's low of 74.50 against the US dollar as investors panicked weighing turmoil in financial markets due to coronavirus fears.

But, the domestic unit recovered sharply to 73.80, up 48 paise against the US dollar, buoyed by measures by the central bank to arrest the rupee free-fall.

16:59 March 13

Govt, RBI closely monitoring markets: FM

Finance Minister Nirmala Sitharaman said the government and the Reserve Bank are closely monitoring the stock market, which is facing intense volatility amid mounting coronavirus fears.

Together with the RBI, the government is closely monitoring markets, she said on the situation arising out of a panic spread of coronavirus pandemic.

16:59 March 13

Brokerages advise stock investors against taking short bets

Brokerage houses cautioned investors against making an entry even as benchmark stock indices recovered after hitting the lower circuit of 10 per cent, saying the impact of coronovirus pandemic is still lingering.

If someone is buying stocks, they should do so only with a medium to long term investment horizon and not to make a quick buck, they advised investors.

16:59 March 13

Bourses halt trading for first time in 12 years

The BSE and NSE stopped trading for 45 minutes starting from little past 9.20 am.

To curb excessive volatility, circuit breakers are triggered on the basis of three thresholds for stock movement -- 10 per cent, 15 per cent and 20 per cent.

The BSE and the NSE compute the index circuit breaker limits for 10 per cent, 15 per cent and 20 per cent levels on a daily basis based on the previous day's closing level of the index rounded off to the nearest tick size, HDFC Securities said citing regulatory framework.

For 10 per cent movement before 1 pm, trading is halted for 45 minutes. The break time is 15 minutes for 10 per cent movement between 1 pm and 2.30 pm while there would be no halt in case the same happens after 2.30 pm.

As per norms, trading would be halted for 1.45 hours if there is 15 per cent movement before 1 pm and 45 minutes for such movement between 1 pm and 2 pm. Trading would be stopped for the day in case the 15 per cent movement is on or after 2 pm.

Finally, a 20 per cent movement at any point of time would result in complete halt of trading for the day.

Geojit Financial Services Chief Investment Strategist V K Vijaykumar said the last time there was a circuit freeze and trading halt was on January 22, 2008.

There was also a brief trading halt on the National Stock Exchange on October 5, 2012 due to a freak trade.

Before trading was halted on Friday, nearly Rs 13 lakh worth investor wealth evaporated in less than 15 minutes of market open.

16:28 March 13

Gold prices dive Rs 1,097/ 10 gm, silver crashes by Rs 1,574 a kg

Gold prices on Friday crashed by Rs 1,097 to Rs 42,600 per 10 gram in the national capital as investors moved to other assets, including rupee after an appreciation in the domestic currency, according to HDFC Securities.

The yellow metal had closed at Rs 43,697 per 10 gram in the previous session.

Silver prices also plummeted by Rs 1,574 to Rs 44,130 per kg from Rs 45,704 per kg on Thursday.

16:02 March 13

Sensex ends 1,300 points higher; Nifty above 9,900

The BSE Sensex was trading at 1,325.34 points or 4.69 per cent higher at 34,103.48 from its previous close of 32,778.14. Similarly, the Nifty50 on the National Stock Exchange was trading at 9,955.20.

Global Market

In rest of Asia, Shanghai slipped 1.23 per cent, Hong Kong 1.14 per cent, Seoul 3.43 per cent and Tokyo 6.08 per cent.

16:01 March 13

BSE Sensex View after closing.

BSE Sensex View after closing.

Indian equities plunge 20% in less than 45 days on coronavirus concerns

Indian stocks have slumped nearly 20 per cent in less than 45 days as concerns over coronavirus pandemic dampened investor sentiments worldwide, including in major European markets and the US.

Data compiled by SEBI showed that China's Shanghai Composite declined just 1.78 per cent while the decline in other key Asian markets was in the range of 7-15 per cent.

The figures are based on comparison between closing levels on January 31 and March 12 -- the period during which coronavirus infections became more pronounced across geographies, including India.

14:34 March 13

Oil rebounds, but still heads for biggest weekly loss in years

Oil prices swung more than six per cent but were still on track for their biggest weekly loss in more than a decade owing to a price war and the spreading coronavirus pandemic.

In another day of volatile trading, both main contracts initially dipped more than two per cent, tracking heavy falls across global markets that have suffered some of their biggest losses in years.

14:12 March 13

BSE view at 1:57 pm.

BSE Sensex View at 1:57 pm.

BSE Sensex View at 1:57 pm.

13:24 March 13

BSE Sensex

BSE Sensex

Biggest-ever recovery, Sensex now up 1,400 points

Registering the biggest ever recovery in the Indian stock markets, the Sensex and Nifty rose over 4 per cent on Friday afternoon

It recovered over 4,500 points from its day's low to touch an intra-day high of 33,917.47. It had touched intra-day low of 29,388.97 during the initial trade.

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

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

13:23 March 13

Indian markets faring better than others, economic fundamentals strong: CEA Subramanian

Indian markets faring better than others, economic fundamentals strong: CEA Subramanian

The current developments in stock market are related to global factors and do not reflect strong fundamentals of the Indian economy, Chief Economic Adviser K V Subramanian said.

The market has been moving in tandem with other global markets owing to concerns relating to coronavirus pandemic, resultant fears of economic slowdown and recent fall in crude oil prices, he said.

"All countries, including France, Russia, US, UK, Japan and others have had more than 20 per cent decline in their stock prices. But the fall in Indian stock market is below the global average," said Subramanian.

He added that the government and the RBI will take all necessary steps to quell the "fear sentiment" created due to coronavirus.

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 said.

12:59 March 13

SBI share

SBI shares gain over 12 pc

The SBI stock was trading higher by over 12 per cent after plunging 13.39 per cent to hit its 52-week low in early trading hours.

On the BSE, the stock hit a high of Rs 232.95, gaining over 9 per cent.

On the NSE, it was trading 12.55 per cent higher at Rs 239.30.

12:34 March 13

BSE view at 1:13 pm.

BSE Sensex View at 1:13 pm.

Sensex, Nifty witness massive recovery, tastes green

Making a significant recovery from the day's bloodbath both Sensex and Nifty rose from their intra-day lows to trade in the green.

Sensex gained over 3,900 points to touch the intra-day high of 33,349.83 points.

At 12.08 p.m., the Sensex was trading at 33,067.35, higher by 289.21 points or 0.88 per cent from its previous close of 32,778.14.

It had touched intra-day low of 29,388.97 during the initial trade.

The Nifty50 on the National Stock Exchange was trading at 9,667.65, higher by 77.50 points or 0.81 per cent

12:34 March 13

Selloff erodes nearly Rs 12 lakh crore investor wealth

Selloff erodes nearly Rs 12 lakh crore investor wealth

Investor wealth worth nearly Rs 12 lakh crore was wiped off in less than 15 minutes of trade opening on Friday, with benchmarks crashing over 10 per cent on mounting fears over coronavirus pandemic.

The mayhem on Dalal Street eroded investor wealth worth Rs 12,92,479.88 crore, taking the total m-cap to Rs 1,12,78,172.75 crore on the BSE at 1020 hours.

The m-cap of BSE-listed companies stood at Rs 1,25,70,652.63 crore at the end of trading on Thursday.

12:34 March 13

Dow plunges nearly 10% in worst session since 1987 crash

US stocks extended losses on Thursday with the Dow plunging more than 2,300 points, or about 10 percent, at the close amid coronavirus fears.

The Dow Jones Industrial Average fell 2,352.60 points, or 9.99 per cent, to 21,200.62. The 30-stock index had its biggest one-day percentage drop since the 1987 Black Monday market crash, when it collapsed by more than 22 per cent, Xinhua reported.

The S&P 500 decreased 260.74 points, or 9.51 percent, to end at 2,480.64. The Nasdaq Composite Index shed 750.25 points, or 9.43 per cent, to 7,201.80.

12:11 March 13

Airline shares tumble up to 14%; IndiGo hits 52-week low

Airline stocks plunged into deep red on Friday due to the ongoing travel restrictions in the wake of coronavirus outbreak.

InterGlobe Aviation, the parent of the country's largest airline IndiGo, saw its shares slump 14.08 per cent to hit 52-week low of Rs 875.

SpiceJet dropped nearly 10 per cent to Rs 44.70.

Jet Airways stock hits lower circuit

Shares of Jet Airways plunged as much as 4.74 per cent to hit lower price band on the BSE as its deadline for submission of bids ended.

The stock was locked in lower circuit on the BSE and the NSE at Rs 18.05 and Rs 17.70, respectively.

12:09 March 13

Yes Bank shares gain nearly 10%

Shares of Yes Bank on Friday rose nearly 10 per cent after State Bank of India (SBI) said it will infuse Rs 7,250 crore into the crippled private sector lender.

The scrip witnessed a sharp rise, spiking 9.98 per cent to Rs 27.55 on the BSE.

On the NSE, it jumped 10.57 per cent to Rs 27.70.

12:08 March 13

Coronavirus sparks historic market rout, global shutdown

Global stock markets suffered historic falls as panic spread on Friday over the spiralling coronavirus crisis that has killed nearly 5,000 and infected sport, schools and society across the planet.

Japan's stock market fell more than 10 percent on Friday, following the worst day on Wall Street since the crash of 1987 as traders scrambled to sell everything on fears the virus will catapult the world into a deep recession.

Markets shrugged off emergency big-bang measures by central banks in the United States and eurozone, and government fiscal stimulus packages, with fears escalating over the tightening noose on the global economy.

10:28 March 13

Trading resumes on stock exchanges; Sensex tanks over 3,300 pts

Domestic stock trading resumed after a 45-minute halt, with equity benchmark Sensex plummeting further to 3,389 points and the broader Nifty sinking below 8,600 level.

Stock exchanges paused trading for 45 minutes after both indices plunged over 10 per cent, hitting their lower circuit limits, within the first 15 minutes of opening of the session.

Continuing its downward spiral, domestic BSE Sensex was trading 3,380.59 points, down 10.31 per cent at 29,397.55. It hit an intra-day low of 29,388.97, falling up to 3,389.17 points.

Similarly, the NSE Nifty cracked 1,036.20 points, or 10.80 per cent, to 8,553.95 after resumption of trade.

Tech Mahindra was the top loser on Sensex, cracking up to 15 per cent, followed by Axis Bank, IndusInd Bank, HCL Tech, Kotak Bank and TCS.

10:10 March 13

Rupee hits record low

Rupee hits record low of 74.50/$ amid corona crisis

The Indian rupee depreciated to a record low of 74.50 in its initial trade on Friday following the persistent fears of the coronavirus outbreak and bear run in the global financial markets.

Its previous low was 74.48 which it had hit in October, 2018.

It had opened at 74.39, weaker by 17 paise from its previous close of 74.22.

However, the rupee has appreciated marginally from its lows and is currently trading at 74.09 per dollar.

With an aim to curb further weakness for the rupee, the Reserve Bank of India (RBI) on Thursday announced that it will undertake a six-month ‘sell/buy swap' to provide liquidity to the foreign market.

Central banks across the world, including the US Federal Reserve have taken steps including announcement of emergency rate cuts to boost investor sentiments.

Further, fall in crude oil prices also weighed on the rupee market. Brent crude is currently at $33.03, which is 0.6 per cent lower than its previous close.

09:38 March 13

Sensex, Nifty hit lower circuit; trading halted for 45 minutes

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

Stock exchanges have halted trading for 45 minutes.

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 per cent to 29,564.58, which triggered the lower circuit limit.

Similarly, the NSE Nifty cracked 966.10 points, or 10.07 per cent, to 8,624.05.

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

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

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.

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

Wall Street lost 10 per cent 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.

The rupee depreciated 13 paise to 74.41 per US dollar (intra-day).

Brent crude oil futures dropped 0.90 per cent to USD 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 per cent, Hong Kong 5.61 per cent, Seoul 7.58 per cent and Tokyo cracked up to 7.97 per cent.

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 health ministry log.

(Inputs from agencies)

19:34 March 13

Investor wealth rises by Rs 3.55 lakh cr on stock markets recovery

Collective investor wealth in BSE-listed companies grew over Rs 3.55 lakh crore as benchmarks recovered after crashing over 10 per cent during the day.

The mayhem on Dalal Street had eroded investor wealth worth Rs 12,92,479.88 crore, taking the total m-cap to Rs 1,12,78,172.75 crore on the BSE in early trade.

However, as stocks pared the losses, investor wealth grew by Rs 3,55,590.19 crore, taking the total market capitalisation of BSE-listed companies to Rs 1,29,26,242.82 crore at the end of the session.

19:33 March 13

Rupee rebounds 48 paise to 73.80 a dollar on RBI assurance

Rebounding from its record low of 74.50, the rupee traded higher by 48 paise at 73.80 against the US currency after the Reserve Bank's assurance that steps will be taken to maintain sufficient liquidity in the panick-stricken currency market.

At the interbank foreign exchange, the rupee opened lower at 74.39 and slid further to the day's low of 74.50 against the US dollar as investors panicked weighing turmoil in financial markets due to coronavirus fears.

But, the domestic unit recovered sharply to 73.80, up 48 paise against the US dollar, buoyed by measures by the central bank to arrest the rupee free-fall.

16:59 March 13

Govt, RBI closely monitoring markets: FM

Finance Minister Nirmala Sitharaman said the government and the Reserve Bank are closely monitoring the stock market, which is facing intense volatility amid mounting coronavirus fears.

Together with the RBI, the government is closely monitoring markets, she said on the situation arising out of a panic spread of coronavirus pandemic.

16:59 March 13

Brokerages advise stock investors against taking short bets

Brokerage houses cautioned investors against making an entry even as benchmark stock indices recovered after hitting the lower circuit of 10 per cent, saying the impact of coronovirus pandemic is still lingering.

If someone is buying stocks, they should do so only with a medium to long term investment horizon and not to make a quick buck, they advised investors.

16:59 March 13

Bourses halt trading for first time in 12 years

The BSE and NSE stopped trading for 45 minutes starting from little past 9.20 am.

To curb excessive volatility, circuit breakers are triggered on the basis of three thresholds for stock movement -- 10 per cent, 15 per cent and 20 per cent.

The BSE and the NSE compute the index circuit breaker limits for 10 per cent, 15 per cent and 20 per cent levels on a daily basis based on the previous day's closing level of the index rounded off to the nearest tick size, HDFC Securities said citing regulatory framework.

For 10 per cent movement before 1 pm, trading is halted for 45 minutes. The break time is 15 minutes for 10 per cent movement between 1 pm and 2.30 pm while there would be no halt in case the same happens after 2.30 pm.

As per norms, trading would be halted for 1.45 hours if there is 15 per cent movement before 1 pm and 45 minutes for such movement between 1 pm and 2 pm. Trading would be stopped for the day in case the 15 per cent movement is on or after 2 pm.

Finally, a 20 per cent movement at any point of time would result in complete halt of trading for the day.

Geojit Financial Services Chief Investment Strategist V K Vijaykumar said the last time there was a circuit freeze and trading halt was on January 22, 2008.

There was also a brief trading halt on the National Stock Exchange on October 5, 2012 due to a freak trade.

Before trading was halted on Friday, nearly Rs 13 lakh worth investor wealth evaporated in less than 15 minutes of market open.

16:28 March 13

Gold prices dive Rs 1,097/ 10 gm, silver crashes by Rs 1,574 a kg

Gold prices on Friday crashed by Rs 1,097 to Rs 42,600 per 10 gram in the national capital as investors moved to other assets, including rupee after an appreciation in the domestic currency, according to HDFC Securities.

The yellow metal had closed at Rs 43,697 per 10 gram in the previous session.

Silver prices also plummeted by Rs 1,574 to Rs 44,130 per kg from Rs 45,704 per kg on Thursday.

16:02 March 13

Sensex ends 1,300 points higher; Nifty above 9,900

The BSE Sensex was trading at 1,325.34 points or 4.69 per cent higher at 34,103.48 from its previous close of 32,778.14. Similarly, the Nifty50 on the National Stock Exchange was trading at 9,955.20.

Global Market

In rest of Asia, Shanghai slipped 1.23 per cent, Hong Kong 1.14 per cent, Seoul 3.43 per cent and Tokyo 6.08 per cent.

16:01 March 13

BSE Sensex View after closing.

BSE Sensex View after closing.

Indian equities plunge 20% in less than 45 days on coronavirus concerns

Indian stocks have slumped nearly 20 per cent in less than 45 days as concerns over coronavirus pandemic dampened investor sentiments worldwide, including in major European markets and the US.

Data compiled by SEBI showed that China's Shanghai Composite declined just 1.78 per cent while the decline in other key Asian markets was in the range of 7-15 per cent.

The figures are based on comparison between closing levels on January 31 and March 12 -- the period during which coronavirus infections became more pronounced across geographies, including India.

14:34 March 13

Oil rebounds, but still heads for biggest weekly loss in years

Oil prices swung more than six per cent but were still on track for their biggest weekly loss in more than a decade owing to a price war and the spreading coronavirus pandemic.

In another day of volatile trading, both main contracts initially dipped more than two per cent, tracking heavy falls across global markets that have suffered some of their biggest losses in years.

14:12 March 13

BSE view at 1:57 pm.

BSE Sensex View at 1:57 pm.

BSE Sensex View at 1:57 pm.

13:24 March 13

BSE Sensex

BSE Sensex

Biggest-ever recovery, Sensex now up 1,400 points

Registering the biggest ever recovery in the Indian stock markets, the Sensex and Nifty rose over 4 per cent on Friday afternoon

It recovered over 4,500 points from its day's low to touch an intra-day high of 33,917.47. It had touched intra-day low of 29,388.97 during the initial trade.

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

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

13:23 March 13

Indian markets faring better than others, economic fundamentals strong: CEA Subramanian

Indian markets faring better than others, economic fundamentals strong: CEA Subramanian

The current developments in stock market are related to global factors and do not reflect strong fundamentals of the Indian economy, Chief Economic Adviser K V Subramanian said.

The market has been moving in tandem with other global markets owing to concerns relating to coronavirus pandemic, resultant fears of economic slowdown and recent fall in crude oil prices, he said.

"All countries, including France, Russia, US, UK, Japan and others have had more than 20 per cent decline in their stock prices. But the fall in Indian stock market is below the global average," said Subramanian.

He added that the government and the RBI will take all necessary steps to quell the "fear sentiment" created due to coronavirus.

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 said.

12:59 March 13

SBI share

SBI shares gain over 12 pc

The SBI stock was trading higher by over 12 per cent after plunging 13.39 per cent to hit its 52-week low in early trading hours.

On the BSE, the stock hit a high of Rs 232.95, gaining over 9 per cent.

On the NSE, it was trading 12.55 per cent higher at Rs 239.30.

12:34 March 13

BSE view at 1:13 pm.

BSE Sensex View at 1:13 pm.

Sensex, Nifty witness massive recovery, tastes green

Making a significant recovery from the day's bloodbath both Sensex and Nifty rose from their intra-day lows to trade in the green.

Sensex gained over 3,900 points to touch the intra-day high of 33,349.83 points.

At 12.08 p.m., the Sensex was trading at 33,067.35, higher by 289.21 points or 0.88 per cent from its previous close of 32,778.14.

It had touched intra-day low of 29,388.97 during the initial trade.

The Nifty50 on the National Stock Exchange was trading at 9,667.65, higher by 77.50 points or 0.81 per cent

12:34 March 13

Selloff erodes nearly Rs 12 lakh crore investor wealth

Selloff erodes nearly Rs 12 lakh crore investor wealth

Investor wealth worth nearly Rs 12 lakh crore was wiped off in less than 15 minutes of trade opening on Friday, with benchmarks crashing over 10 per cent on mounting fears over coronavirus pandemic.

The mayhem on Dalal Street eroded investor wealth worth Rs 12,92,479.88 crore, taking the total m-cap to Rs 1,12,78,172.75 crore on the BSE at 1020 hours.

The m-cap of BSE-listed companies stood at Rs 1,25,70,652.63 crore at the end of trading on Thursday.

12:34 March 13

Dow plunges nearly 10% in worst session since 1987 crash

US stocks extended losses on Thursday with the Dow plunging more than 2,300 points, or about 10 percent, at the close amid coronavirus fears.

The Dow Jones Industrial Average fell 2,352.60 points, or 9.99 per cent, to 21,200.62. The 30-stock index had its biggest one-day percentage drop since the 1987 Black Monday market crash, when it collapsed by more than 22 per cent, Xinhua reported.

The S&P 500 decreased 260.74 points, or 9.51 percent, to end at 2,480.64. The Nasdaq Composite Index shed 750.25 points, or 9.43 per cent, to 7,201.80.

12:11 March 13

Airline shares tumble up to 14%; IndiGo hits 52-week low

Airline stocks plunged into deep red on Friday due to the ongoing travel restrictions in the wake of coronavirus outbreak.

InterGlobe Aviation, the parent of the country's largest airline IndiGo, saw its shares slump 14.08 per cent to hit 52-week low of Rs 875.

SpiceJet dropped nearly 10 per cent to Rs 44.70.

Jet Airways stock hits lower circuit

Shares of Jet Airways plunged as much as 4.74 per cent to hit lower price band on the BSE as its deadline for submission of bids ended.

The stock was locked in lower circuit on the BSE and the NSE at Rs 18.05 and Rs 17.70, respectively.

12:09 March 13

Yes Bank shares gain nearly 10%

Shares of Yes Bank on Friday rose nearly 10 per cent after State Bank of India (SBI) said it will infuse Rs 7,250 crore into the crippled private sector lender.

The scrip witnessed a sharp rise, spiking 9.98 per cent to Rs 27.55 on the BSE.

On the NSE, it jumped 10.57 per cent to Rs 27.70.

12:08 March 13

Coronavirus sparks historic market rout, global shutdown

Global stock markets suffered historic falls as panic spread on Friday over the spiralling coronavirus crisis that has killed nearly 5,000 and infected sport, schools and society across the planet.

Japan's stock market fell more than 10 percent on Friday, following the worst day on Wall Street since the crash of 1987 as traders scrambled to sell everything on fears the virus will catapult the world into a deep recession.

Markets shrugged off emergency big-bang measures by central banks in the United States and eurozone, and government fiscal stimulus packages, with fears escalating over the tightening noose on the global economy.

10:28 March 13

Trading resumes on stock exchanges; Sensex tanks over 3,300 pts

Domestic stock trading resumed after a 45-minute halt, with equity benchmark Sensex plummeting further to 3,389 points and the broader Nifty sinking below 8,600 level.

Stock exchanges paused trading for 45 minutes after both indices plunged over 10 per cent, hitting their lower circuit limits, within the first 15 minutes of opening of the session.

Continuing its downward spiral, domestic BSE Sensex was trading 3,380.59 points, down 10.31 per cent at 29,397.55. It hit an intra-day low of 29,388.97, falling up to 3,389.17 points.

Similarly, the NSE Nifty cracked 1,036.20 points, or 10.80 per cent, to 8,553.95 after resumption of trade.

Tech Mahindra was the top loser on Sensex, cracking up to 15 per cent, followed by Axis Bank, IndusInd Bank, HCL Tech, Kotak Bank and TCS.

10:10 March 13

Rupee hits record low

Rupee hits record low of 74.50/$ amid corona crisis

The Indian rupee depreciated to a record low of 74.50 in its initial trade on Friday following the persistent fears of the coronavirus outbreak and bear run in the global financial markets.

Its previous low was 74.48 which it had hit in October, 2018.

It had opened at 74.39, weaker by 17 paise from its previous close of 74.22.

However, the rupee has appreciated marginally from its lows and is currently trading at 74.09 per dollar.

With an aim to curb further weakness for the rupee, the Reserve Bank of India (RBI) on Thursday announced that it will undertake a six-month ‘sell/buy swap' to provide liquidity to the foreign market.

Central banks across the world, including the US Federal Reserve have taken steps including announcement of emergency rate cuts to boost investor sentiments.

Further, fall in crude oil prices also weighed on the rupee market. Brent crude is currently at $33.03, which is 0.6 per cent lower than its previous close.

09:38 March 13

Sensex, Nifty hit lower circuit; trading halted for 45 minutes

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

Stock exchanges have halted trading for 45 minutes.

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 per cent to 29,564.58, which triggered the lower circuit limit.

Similarly, the NSE Nifty cracked 966.10 points, or 10.07 per cent, to 8,624.05.

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

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

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.

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

Wall Street lost 10 per cent 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.

The rupee depreciated 13 paise to 74.41 per US dollar (intra-day).

Brent crude oil futures dropped 0.90 per cent to USD 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 per cent, Hong Kong 5.61 per cent, Seoul 7.58 per cent and Tokyo cracked up to 7.97 per cent.

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 health ministry log.

(Inputs from agencies)

Last Updated : Mar 13, 2020, 7:35 PM IST

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