Sensex Tanks Over 2,000 Factors, Nifty Offers Up 9,300 After Authorities Extends COVID-19 Lockdown

Sensex, Nifty Tank Nearly 6% After Government Extends COVID-19 Lockdown: 10 Things To Know

Market Replace: The S&P BSE Sensex index tumbled as a lot as 6.19% to 31,632.02 in the course of the session


Home inventory markets registered sharp losses on Monday after the federal government prolonged the world’s largest lockdown to curb the unfold of the coronavirus (COVID-19) pandemic till Might 17 with few relaxations. The S&P BSE Sensex index tumbled as a lot as 6.19 per cent – or 2,085.6 factors – to hit 31,632.02 in the course of the session, having began the day down 969.48 factors at 33,717.62. The broader NSE Nifty 50 benchmark dropped to as little as 9,282.75 in late afternoon offers as towards its earlier shut of 9,859.90. A selloff throughout sectors besides pharmaceutical shares pulled the markets decrease,led by monetary, car and metallic shares.

Listed below are 10 issues to know:

  1. The S&P BSE Sensex ended 2,002.27 factors – or 5.94 per cent – decrease at 31,715.35 whereas the NSE Nifty 50 settled at 9,293.50, down 566.40 factors – or 5.74 per cent – in comparison with its earlier shut. The Nifty Financial institution index – comprising shares of 12 main lenders within the nation – closed 8.32 per cent decrease, having plummeted as a lot as 8.78 per cent in the course of the session.

  2. Within the 50-scrip Nifty basket, 47 shares closed decrease. Prime proportion losers had been Hindalco, ICICI Financial institution, Vedanta, Bajaj Finance, HDFC and Tata Motors, ending between 9.87 per cent and 10.68 per cent decrease. HDFC Financial institution (ending 7.86 per cent decrease), HDFC (10.08 per cent) and ICICI Financial institution (10.96 per cent) alone accounted for a lack of 886.79 factors within the Sensex.

  3. Reliance Industries settled with a lack of 2.16 per cent at Rs 1,435.40 on the BSE, having fallen greater than Three per cent in the course of the session, after the operator of the world’s largest refining advanced reported a 39 per cent drop in its March quarter revenue to Rs 6,348 crore – its steepest fall since December 2008 – on a pointy fall in oil costs and decrease gas demand, lacking analysts’ estimate.

  4. On Monday, Reliance Industries mentioned non-public fairness agency Silver Lake will make investments Rs 5,656 crore in its digital arm, Jio Platforms, days after securing a $5.7 billion funding from Fb because the conglomerate appears to be like to pare debt. 

  5. Market breadth was extremely detrimental with an advance-decline ratio of three:1, as 574 shares rose for the day on the BSE towards 1,841 that fell. Analysts say weak point in world markets together with weak earnings again residence harm investor sentiment.

  6. “Hindustan Unilever Restricted (HUL) reported de-growth in volumes. Auto corporations are reporting zero gross sales and world sentiment is detrimental,” Anita Gandhi, director at Arihant Capital Markets, instructed NDTV.

  7. HUL shares closed 5.16 per cent decrease at Rs 2,082.30. On Thursday, the fast-moving shopper items main reported a 3.5 per cent fall in web revenue to Rs 1,515 crore for the quarter ended March 31.

  8. The home markets additionally tracked losses in world markets, the place equities fell amid a spat between the US and China over the origin of the outbreak. Whereas Japanese and Chinese language markets remained shut for a holday on Monday, South Korea’s KOSPI fell, Hong Kong’s Hold Seng returned from a two-session vacation with a 3.5 per cent drop, however Australia’s ASX 200 eked out a 0.5 per cent achieve.

  9. European shares began the day on a detrimental notice, with the UK’s FTSE benchmark index final seen down 0.42 per cent, whereas France’s CAC and Germany’s DAX indices had been down 4.23 per cent and three.60 per cent respectively.

  10. US inventory futures fell 1.7 per cent, indicating a weak begin for Wall Avenue on Monday. US President Donald Trump and Secretary of State Mike Pompeo added to worries with recent efforts to pin blame for the pandemic on China, the place the brand new coronavirus outbreak is believed to have originated. The most recent salvo got here from Mr Pompeo on Sunday who mentioned there was “a big quantity of proof” that the virus emerged from a laboratory within the central Chinese language metropolis of Wuhan.

(With inputs from Reuters)

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