Share Market LIVE: Sensex down 390 points, Nifty below 12K; metal stocks decline
Share Market LIVE: Domestic market benchmarks Sensex and Nifty traded 1% lower each on Monday tracking intense selloff in global equities amid rising concerns over Chinese coronavirus epidemic, amid high selling pressure in metal stocks. BSE 30-share S&P Sensex traded 489 points lower at 40,500 and NSE 50-share index Nifty50 traded 135 points lower at 11,945. In terms of sectors, all the indices except IT traded in losses, with over 3% decline in metal, followed by 1% fall in majorly all the other indices. Domestic markets followed bearish trend from Asian stocks that opened negative following the sell-off on Wall Street on Friday amid a surge in the number of new coronavirus cases reported outside China and on worries over its impact on the global economy. According to traders, spike in coronavirus cases outside China has spooked global investors. Further, IMF also warned that the deadly epidemic could put an already fragile global economy recovery at risk. On the domestic front, traders said investors are likely to take cues from US President Donald Trump's two-day visit to India. He will reach Ahmedabad later in the day. Last week on Thursday, BSE 30-share S&P Sensex ended 152 points lower at 41,170 and NSE 50-share index Nifty50 closed 45 points lower at 12,080Here's a look at the live updates of the market action on BSE and NSE today: Aurobindo pharma falls 18%
Shares of Aurobindo Pharma slipped almost 18% in trade on Monday after the US Food and Drug Administrator (USFDA) revoked the Voluntary Action Initiated (VAI) of Aurobindo's unit IV, saying the investigation was still ongoing and incomplete.
On Wednesday, company had said that the FDA issued an Establishment Inspection Report with VAI for its key injectables plant unit 4 at Pashamylaram, Hyderabad. The inspection was conducted between November 4 and 13, 2019. At the end of the inspection, the regulator had issued a 'Form 483' with 14 observations.
The stock, following the news opened with a loss of 10% today and later declined 17.96% to the day's low of Rs 491.9.Ambuja Cement rises over 3% post earnings
1: 50 PM
Ambuja Cement shares touched an intraday high of Rs 212.7 on Monday, rising 3.35% on NSE despite the company reporting consolidated net profit halved to Rs 722 crore for the December quarter, against Rs 1,378 crore in the same period last year. Revenue from operations was up 6% at Rs 7,126 crore in Q3 FY20 as against Rs 6,729 crore recorded in Q3 FY19.Metal stocks under pressure
1: 40 PM
Shares of metal companies like JSW Steel, Hindalco Industries, Vedanta, Tata Steel were trading as top losers on Monday amid a surge in the number of new coronavirus cases reported beyond China and on worries over its impact on global economic growth.
Backed by heavy selling pressure in metal scrips, Nifty Metal index was the top loser among sector-based indices, falling 3.20% to 2,528.75 points against 1.08% decline in Nifty 50 index.
Jindal Steel and Power (JSPL) fell more than 5% on NSE, followed by 4.05% decline in JSW Steel. Hindalco Industries, Tata Steel, SAIL and Vedanta declined over 3% each. MOIL lost over 2% on NSEBiocon hits new 52-week high
1: 20 PM
Biocon said that it has received three observations from the US health regulator USFDA following inspection of its insulin manufacturing facility in Malaysia between February 10 and 21. Following the update, the stock price of Biocon opened with a loss of 3.17% and later fell 3.75% to intraday low of Rs 303.2 today. However later the shares rose 2.63% to touch an intraday high as well as a new 52 week high of Rs 323.3. The agency issued a Form 483 with three observations which are procedural in nature, the filing added further.Aditya Birla Capital slips 2%
Shares of Aditya Birla Capital declined over 2% in trade on Monday after the company informed that the Department of Economic Affairs has communicated its approval to the company for foreign investment by Jomei Investments for the purpose of subscription to the preferential issue, pursuant to which it is proposed to allot 100,000,000 fully paid-up equity shares, at a price of Rs 100. The filing also confirmed that all regulatory approvals in relation to preferential allotment of equity shares to Jomei have now been received and thus, allotment of equity shares to Jomei is proposed to be completed within 15 days from the date of receipt of DEA Approval.GMR Infrastructure rises 11%
Shares of GMR Infrastructure Limited rose over 11% on Monday morning, hitting a 52-week-high of Rs 26.35, after the company announced that it has entered into a share purchase agreement with French airport operator Groupe ADP. As per the agreement, ADP will hold 49 per cent stake in GMR Airports for an equity consideration of Rs 10,780 crore, valuing GAL at the Base Post Money Valuation of Rs 22,000 crore.Gold price crosses Rs 43,000 per 10 gm for first time
Gold prices crossed record high of Rs 43,000 per 10 gram in the domestic market on Monday, tracking positive overseas trend from international spot prices that hit a near seven-year high. Investors turned to safe-haven assets such as gold and government bonds due to rising concerns over the economic impact of coronavirus cases.
On the Multi Commodity Exchange, Gold 05 Feb 2020 Futures spurted by another Rs 433 or 1% to a record high of 43,099 per 10 gm. On a similar note, Silver March contract also surged 281 points or 0.58% to Rs 48,585 per kg.Metal stocks decline
10: 55 AM
Metal stocks took the beatdown on Monday's session, with Nifty metal declining over 3% amid a global sell-off as investors worldwide continue to be spooked about the coronavirus impact.FII/ DII action on Thursday
10: 35 AM
On a net basis, foreign institutional investors bought equities worth Rs 1,495.25 crore, while domestic institutional investors sold shares worth Rs 699.62 crore on Thursday, data available with stock exchanges showed.Market Update
10: 30 AM
Domestic market benchmarks Sensex and Nifty traded 1% lower each on Monday tracking intense selloff in global equities amid rising concerns over Chinese coronavirus epidemic, amid high selling pressure in metal stocks. After sinking 497 points in opening session, the 30-share barometer BSE Sensex was trading 410.12 points, or 1 per cent, lower at 40,760. Similarly, the NSE Nifty was trading down by 135.85 points, or 1.12 per cent, at 11,945. In the previous session on Thursday, the Sensex settled 152.88 points, or 0.37 per cent, lower at 41,170.12, and Nifty slipped 45.05 points, or 0.37 per cent, to 12,080.85. Financial markets remained closed on Friday on account of 'Mahashivratri'.Losers/ Gainers
10: 20 AM
Tata Steel, HDFC, ITC, ICICI Bank, Maruti, Hero MotoCorp, NTPC and PowerGrid were among the top losers today. On the other hand, Infosys, Tech Mahindra, TCS, Sun Pharm and HUL were trading with gains.Rupee depreciates 19 paise to 71.83
10 : 10 AM
The Indian rupee declined by 30 paise to 71.94 against the US dollar in opening trade on Monday amid muted opening in domestic equities and strengthening of the American currency overseas. Besides, as investor sentiments remained fragile amid coronavirus fears.
The rupee opened weak at 71.94 at the interbank forex market, down 30 paise over its last close.The local unit however pared some initial losses and was trading at 71.83 against the US dollar. The rupee had settled at 71.64 against the US dollar on FridayGlobal Update
10: 00 AM
South Korea went on high alert Sunday following a sharp jump in coronavirus cases, and Italy and Iran took their own drastic containment steps. Further, IMF also warned that the deadly epidemic could put an already fragile global economy recovery at risk.
Chinese President Xi Jinping on Sunday said the coronavirus epidemic is the country's "largest public health emergency". The death toll from the deadly virus climbed to 2,592 on Monday.
Bourses in Seoul plunged over 3 per cent after South Korea reported 161 more coronavirus cases Monday, taking the nationwide total to 763 and making it the world's largest total outside China. Stock exchanges in Shanghai, Hong Kong and Tokyo were also trading significantly lower.Corovirus update
9: 50 AM
The virus which has killed nearly 2,600 and infected 80,000 was being contained outside China but a spurt of infections and deaths in other countries including South Korea, Italy and Iran has fanned fears of a wider outbreak.
The IMF warned on Sunday that the deadly coronavirus epidemic could put an already fragile global economy recovery at risk, as G20 financial chiefs discussed ways to contain its economic ripple effects.
Traders internationally are worries over concerns with the outbreak that could have a much longer term impact on the world economy, which was already stuttering, with a number of companies warning about their bottom lines.
Seoul led a sharp drop across Asian equity markets Monday as South Korea announced a surge in COVID-19 infections, while oil plunged and safe haven assets rallied on growing concerns about the global spread of the deadly virus.Global Update
9: 40 AM
Domestic markets followed bearish trend from Asian stocks that opened negative following the sell-off on Wall Street on Friday amid a surge in the number of new coronavirus cases reported outside China and on worries over its impact on the global economy. SGX Nifty traded down 102 points or 0.85% at 11,932.50. US Futures (Dow Jones) traded at 28,563, down 418 points or 1.44%. Brent Crude, the global oil benchmark, traded at $56.91/barrel, down 2.72%.Trump visit today
9: 30 AM
US President Donald Trump will soon reach India for his maiden official two-day visit. Trump, who will be accompanied by First lady Melania Trump and a 12-member delegation, is the seventh US president to visit the country. Ahead of his departure to India, the US President said he looked "forward to being with my great friends in INDIA". After landing in Ahmedabad around noon today, Trump will address over 1 lakh people during the 'Namaste Trump' event at the Motera Stadium -- the world's largest cricket stadium that'll be inaugurated today.Donald Trump visit Live Updates Opening Bell
9: 20 AM
Market benchmarks Sensex and Nifty turned majorly bearish on Monday and fell over 1% lower each by the opening bell, amid negative global cues. BSE 30-share S&P Sensex traded 489 points lower at 40,500 and NSE 50-share index Nifty50 traded 135 points lower at 11,945. In terms of sectors, all the indices except IT traded in losses, with over 3% decline in metal, followed by 1% fall in majorly all the other indices.Q3 Earnings Today
9: 10 AM
Tech Mahindra, Quick Heal Technologies, Avanti Feeds, Exide Industries, Linde India, Rishiroop, Pudumjee Paper Products, Gravita India, Ellora Paper Mills, Coastal Corporation and AMJ Land Holdings will announce their October-December quarterly results today.Stocks to watch today on February 24
YES Bank, Cipla, Tech Mahindra, Escorts among others are the top stocks to watch out for in Monday's trading sessionLast Close
8: 45 AM
Market benchmarks Sensex and Nifty turned bearish on Thursday, following tepid cues from overseas markets and closed 0.35% lower. BSE 30-share S&P Sensex ended 152 points lower at 41,170 and NSE 50-share index Nifty50 closed 45 points lower at 12,080. In terms of sectors, gains in metal, PSU banking and realty stocks were capped by losses in IT, media and pharma stocks. Asian Paints, Hindustan Unilever, Indian Oil, Cipla and Nestle were among the top losers today. On the other hand, IndusInd Bank, Tata Steel, Zee Entertainment, YES Bank and ONGC were the top gainers of today' closing session.
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Share Market Update: Domestic market benchmarks Sensex and Nifty closed 2% lower each on Monday tracking heavy selloff in global equities amid rising concerns over Chinese coronavirus epidemic, amid high selling pressure in metal stocks.
Tracking weakness in global markets, Indian equity markets witnessed a kneejerk reaction that pushed the benchmark indices below crucial support levels. Both equity benchmarks saw the biggest single day fall since February 1, 2020, the Budget
Benchmark equity indices BSE Sensex and NSE Nifty cracked over 1 per cent in Monday's early trade on growing concerns over the global spread of the deadly coronavirus. The 30-share index was down 472.18 points, or
Indian markets fell sharply today, tracking a decline in other Asian markets as corornavius cases spiked outside China. The Sensex fell nearly 500 points while Nifty was below 11,950. The rupee also weakened to about
The benchmark indices continued to succumb to selling pressure due to increasing concerns that global economic growth could be impacted by rising number of coronavirus cases outside China. At 2:00 pm,