INSUBCONTINENT EXCLUSIVE:
NEW DELHI: In a sea of red on Friday, when everything was under bear grip, there were hardly any winners on Dalal Street
Still, names such as Maruti Suzuki and Bajaj Auto stood out, gaining a per cent each.
Nearly 2,600 stocks closed with losses on BSE, some
registering their worst performance since debuting on the bourses
YES Bank grabbed headlines with a fall of 56 per cent while other banks followed
BSE benchmark Sensex tanked 894 points to 37,576 while NSE barometer Nifty tumbled 289 points to 10,979
With this fall, both the indices have entered a correction territory.
"The sell-off in India was triggered by a weak global trend due to the
coronavirus outbreak, restricting international travel and trade
Additionally, moratorium enlarged domestic concern over the safety of the financial system and the rupee fell past 74 level due to these
Market will be watchful about the final resolution to be offered by RBI - SBI soon," 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:TaMo sees limited virus impactTata Motors said
it expects limited volume loss in its domestic business during the January-March period due to disruption of supply chain from China owing
to the coronavirus outbreak
Shares of the automaker fell 9.07 per cent to Rs 114.25.
YES Bank massacredShares of YES Bank reported the biggest intraday fall in its
history, plunging 85 per cent before recovering a bit to close 56 per cent down at Rs 16.20 as RBI took over the bank.
Voda pegs AGR dues at
Rs 21,533 croreVodafone Idea said its adjusted gross revenue (AGR) liabilities stood at Rs 21,533 crore as per its self assessment, and the
calculation of dues has been filed with the telecom department
The government had estimated the same at around Rs 53,000 crore
Shares of the telco tanked 7.8 per cent to Rs 3.31.
Maruti cuts productionThe country's largest carmaker Maruti Suzuki cut production by
5.38 per cent in February to 1,40,933 units, according to a regulatory filing by the company
Shares of the firms gained 1.03 per cent to Rs 6,430.30.
TCS, DLF to set up SEZThe government has approved the proposals of software firm
TCS and realty major DLF to set up special economic zones (SEZs) for the IT sector in Haryana and Uttar Pradesh
Shares of TCS dipped 0.70 per cent to Rs 2,110, while the realty major DLF fell 3.95 per cent to Rs 194.50.
Max Financial cracks 14%Shares
of Max Financial Services cracked 13.79 per cent to Rs 521.60 trade on reports that its subsidiary Max Life has Rs 2,000 crore exposure to
YES Bank via tier-II bonds
Max Financial Services holds around 72.50 per cent stake in Max Life.
SBI cracks 6%Shares of State Bank of India plunged about 6.19 per cent
to Rs 270.45 amid the buzz that it may acquire controlling stake in YES Bank along with Life Insurance Corporation.
Volatility index
soarsIndia VIX, also known as the fear index, surged 11.70 per cent to 25.96
This indicates traders are expecting a heightened level of volatility in the market going ahead.
All sectors end in the redAll sectoral
indices closed deep in the red on NSE
Nifty PSU Bank index was the worst hit, tumbling 5.25 per cent to 1,792
Nifty Metal and Nifty Media were the next worst performers, plunging over 4 per cent each
Nifty Private Bank and Nifty Realty were among other big losers.
Nifty, Sensex in correction territoryNifty and Sensex have now entered
correction territory, falling over 10 per cent from the recent highs
BSE flagship Sensex has fallen 11.11 per cent from their all-time high of 42,273.87 attained on January 20
Similarly, its NSE counterpart Nifty has slumped 11.67 per cent from high of 12,430.50.
607 stocks hit 52-week lowOver 600 scrips made new
They include ACC, Concor, BHEL, IndiGo, ITC, L-T, Federal Bank, Marico, PNB, ONGC, Vedanta, YES Bank and Tata Power, among others.
Investor
wealth down by Rs 3.5 lakh croreEquity investors lost Rs 3.48 lakh crore wealth in Friday’s selloff
The total market cap of the BSE-listed companies stood at 144.31 lakh crore.
143 stocks ‘oversold’Nearly 150 stocks on BSE entered the
‘oversold’ territory, as they crossed below the 30 mark on the Relative Strength Index (RSI)
They include YES Bank, SBI, Reliance Industries, Union Bank of India, IndianOil, Tata Steel, Trident, Allahabad Bank and ONGC, among
