INSUBCONTINENT EXCLUSIVE:
Domestic equity market witnessed a bloodbath last week with the benchmark indices falling over 9 per cent, as coronavirus fears deepened
The 30-share Sensex lost 3,473 points to 34,103, while the 50-share Nifty index declined 1,034 points to 9,955.
Overall, investors lost more
than Rs 15 lakh crore, as the market capitalisation of BSE-listed firm declined to Rs 129 lakh crore on March 13 from Rs 144 lakh crore on
March 6.
Vinod Nair, Head of Research at Geojit Financial Services, said: “Panic selling was seen across global markets after coronavirus
was officially declared a pandemic by WHO
Temporary relief was seen in the global markets based on stimulus hopes
Investors are still advised to be alert since the volatility, as measured by the volatility index has reached all-time highs.”
Here are
top stocks and sectors that buzzed during the week gone by:Stocks that rallied up to 70 per centJust 14 stocks in BSE 500 index delivered
positive return to investors during the week with Vodafone Idea rallying the most 70 per cent
It was followed by YES Bank (up 58 per cent), Bharti Infratel (up 11 per cent) and The Lakshmi Vilas Bank (up 11 per cent)
Shipping Corporation of India, Future Lifestyle Fashions, The Great Eastern Shipping Company, Whirlpool of India, Timken India, Dilip
Buildcon, Ratnamani Metals, Omaxe, MRPL and Redington also gained 0.15-8 per cent.
Scrips that slid up to 41%As many as 301 stocks in BSE500
plunged in double digits during the week
Future Retail lost 40.80 per cent, followed by Welspun Corporation (37 per cent), Indiabulls Housing Finance (35.75 per cent), Varroc
Engineering (34.90 per cent) and Motherson Sumi (34 per cent)
GHCL, SpiceJet, Adani Enterprises, Adani Power, Graphite India, Take Solutions, Corporation Bank, Centrum Capital and Intellect Design Arena
were among other stocks that fell over 10 per cent.
Scrips at fresh 52-week highs/lowsIn BSE500 index, 3M India, ACC, Adani Gas, Adani
Ports, Adani Power, Adani Transmission, Axis Bank, Bandhan Bank, Cipla, Cochin Shipyard were among 375 firms that hit new 52-week lows
On the other hand, Pidilite Industries, Divis Laboratories and Asian Paints hit new 52-week highs.
Sectoral updateAll the sectoral indices
on BSE ended the week in the red
The BSE IT index tanked 13.58 per cent to 13295.10 on March 13 from 15384.20 on March 6
BSE Metal, Realty, TECk, Oil - Gas, PSU and Auto indices also lost between 10-12 per cent during the same period.
IPO updateAntony Waste
Handling Cell IPO remained subscribed at 49 per cent, receiving bids for 23,87,450 shares as against the total issue size of 48,20,508
shares, as per data from the National Stock Exchange
Earlier, the company on March 6 extended the bidding period for its initial public offering till March 16 citing exceptional volatility in
markets.
In another update, shares of SBI Cards and Payments will be listed on the exchanges on March 16
The IPO, which was opened for subscription from March 2-5, got subscribed by 26 times
The institutional portion of the IPO had garnered 57 times subscription.
PVR, Inox Leisure crackShares of multiplex operators, including PVR
and Inox Leisure, took a hit after the Delhi and Maharashtra governments ordered shutting down of cinema halls till March 31
Share of PVR tumbled 21 per cent to Rs 1.288.90 for the week ended March 13, while Inox Leisure Leisure lost 14 per cent to Rs 316.80 during
the same period.
Aviation stocks tankShares of airline majors InterGlobe Aviation and Spicejet slipped up to 31 per cent after the
government suspended all visas during the week, except a few categories such as diplomatic and employment, till April 15 in a bid to contain
the spread of novel coronavirus
The suspension came into effect from March 13 midnight.
Tata Motors in double digitsShare price of Tata Motors fell below Rs 100 on
Wednesday for the first time in the last 11 years amid slowing demand for personal and commercial vehicles and likely disruption in
production due to coronavirus
The scrip lost 21.44 per cent to Rs 89.80 on March 13 from Rs 114.30 on March 6.
Ashwin Patil, Senior Research Analyst (Auto), LKP
Securities said, “Coronavirus worries now spreading to Europe, the US and the UK, following China
All of the operating geographies of Tata Motors are getting hit
Production in China along with demand is getting impacted
This will keep on halt all the upcoming launches and capex programmes of the companies
Threat lurks in India too, as the company fears a demand slump”
YES Bank climbsShares of YES Bank gained nearly 58 per cent last week
after the Union Cabinet approved reconstruction scheme for the troubled lender under which SBI will acquire 49 per cent stake in the
crisis-ridden private sector bank.
Nifty’s top losersIn the Nifty 50 pack, shares of Oil and Natural Gas Corporation (ONGC) declined the
most 25.54 per cent during the week
The upstream companies came under pressure after a sharp plunge in oil prices cast showdown on their earnings prospects
Vedanta and Gail also lost over 20 per cent.
