INSUBCONTINENT EXCLUSIVE:
There was mayhem on Dalal Street on Friday as over 2,000 stocks bled, leaving very few winners
Auto stocks got battered as coronavirus hit their supply chains
Tata Motors fell nearly 11 per cent.
Metal stocks were among the biggest losers
Vedanta took a big knock, tanking over 13 per cent
Jindal Steel and Welspun Corp fell about 9 per cent each
Nifty Metal index ended 7 per cent lower.
BSE flagship Sensex recorded the second worst fall in its history, plunging 1,448 points, while
its NSE counterpart Nifty sank 431 points to close at 11,201
The biggest fall happen on August 24, 2015, when the 30-pack had crashed 1,624 because of meltdown in Chinese market and a major spike in
oil price.
Some analysts said Friday fall was the beginning of a prolonged downslide, while others saw it as a buying opportunity
“The market is yet to quantify the exact economic impact of ongoing virus concerns, but further acceleration could pose risk in short to
medium term," said Vinod Nair, Head of Research at Geojit Financial Services.
Here is a lowdown of the movers and shakers of Friday’s
session on Dalal Street:UBI sells NSE sharesUnion Bank of India said it has sold 0.21 per cent stake in NSE for a cash consideration of over
Shares of the company fell 8.28 per cent to Rs 37.10.
Godrej Properties buys landGodrej Properties has bought a 3-acre land parcel in Mumbai
from DIC India for Rs 153 crore
This project will offer 0.45 million square feet of saleable area primarily comprising residential apartments with a small amount of retail
Shares of the firms closed down 2.30 per cent at Rs 1,015.10.
Coast Guard inducts L-T-built vessel L-T-built Offshore Patrol Vessel ICGS
Varad has been commissioned into the Indian Coast Guard (ICG), according to a regulatory filing
Shares of the EPC major slipped 2.22 per cent to Rs 1,183.
Shriram Transport to raise fundShriram Transport Finance Company said that its
planning to raise funds through the issuance of debt securities
Shares of the financier fell 4.88 per cent to Rs 1,197.95.
NTPC’s Barauni plant to begin opsState-owned power major NTPC on Friday said
its 250 mw unit of Barauni Thermal Power Station in Bihar will start commercial operation from March 1
Shares of the company slid 2.25 per cent to Rs 106.60.
ITC ends in green Cigarette maker ITC was the only stock in the Sensex pack that
It gained 0.05 per cent to close at Rs 197.60
All other stocks in the index closed as much 8 per cent down
Airline stocks nosediveShares of airline companies plunged up to 10 per cent on Friday as rating agency Icra said the outlook for the
aviation sector remains negative in the wake of the coronavirus outbreak
SpiceJet fell 4.69 per cent to Rs 83.30, Interglobe Aviation dipped 4.80 per cent to Rs 1,300.70 and Jet Airways slid 4.26 per cent to Rs
24.70.
IndianOil developing biomass LPGIndian Oil Corporation is in the process of developing LPG from biomass and would succeed in another
two to three years, a senior official said
The company also said it is ready to supply low emission BS-VI fuels from April 1 and that there will be a marginal increase in retail
The stock closed unchanged.
Autos crash, TaMo worst hitAuto stocks plunged up to 11 per cent as supply chain disruptions due to coronavirus
outbreak dented the outlook of the industry, which saw its worst-ever sales decline in two decades recently
Tata Motors was the worst hit, down 10.74 per cent to Rs 129.65
Nifty Auto closed down 3.76 per cent at 6,909.
Broader indices’ YTD return in redYear-to-date returns for Nifty Smallcap and Nifty Midcap
indices turned negative for the year
The former is now down 2.74 per cent and latter 1.85 per cent in the calendar year
Both indices tanked 3.83 per cent and 3.27 per cent, respectively, on Friday.
All sectoral indices in the redAll sectoral indices ended the
day deep in red amid market-wide rout
Nifty Metal was the worst performer, tanking 7.34 per cent to 2,233
Nifty IT crashed 5.27 per cent, Nifty PSU Bank 4.97 per cent Nifty Media 4.98 per cent.
Who moved my Sensex?As many as five counters bled
over 100 points, led by Reliance Industries that shed 172 points
Others were Infosys (164 points), HDFC (158 points), ICICI Bank (115 points) and TCS (103 points).
Volatility gauge soarsIndia VIX,
barometer of fear in the market, jumped 28.75 per cent to close at 22.8725, hinting at volatile times in the days to come.
Investors lose Rs
5.2 lakh croreThe market crash eroded Rs 5.20 lakh crore of investor wealth in a single day
With the crash, the combined market cap of the BSE-listed firms slipped to Rs 146.87 lakh crore.
437 stocks hit 52-week lowsAs many as 437
stocks hit their year-lows during the day
They included marquee names like ACC, BHEL, Hero Moto, IndusInd Bank, L-T, ONGC, PNB, ITC, HPCL, Lupin, Tata Power, Wipro and Vedanta, among
others.
95 stocks send out ‘sell’ signalsNearly 100 stocks on BSE flashed ‘sell’ on Friday as they crossed below the signal line on
They include SBI, Indiabulls Housing Finance, GMR Infra, Reliance Infra, Manappuram Finance, Birlasoft, Shriram Transport, Firstsource
Solution, NIIT, Trent and Mindtree, among others.
