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

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

Market Replace: The S&P BSE Sensex index tumbled as a lot as 6.00% to 31,694.83 in the course of the session

Home inventory markets fell practically 6 per cent on Monday after the federal government prolonged the world’s greatest lockdown to curb the unfold of the coronavirus (COVID-19) pandemic till Could 17 with few relaxations. The S&P BSE Sensex index tumbled as a lot as 6.00 per cent – or 2,022.79 factors – to 31,694.83, having began the session down 969.48 factors at 33,717.62. The broader NSE Nifty 50 benchmark declined to as little as 9,282.75 in late afternoon offers, after beginning the day at 9,533.50 as in opposition to its earlier shut of 9,859.90. A selloff throughout sectors besides pharma shares – led by monetary, vehicle and metallic shares – pulled the markets decrease.

Listed here are 10 issues to know:

  1. At 2:44 pm, the S&P BSE Sensex traded 2,008.32 factors – or 5.96 per cent – decrease at 31,709.30 whereas the NSE Nifty 50 was down 569.05 factors – or 5.77 per cent – at 9,290.85. 

  2. Within the 50-scrip Nifty basket, 46 shares traded decrease on the time. Prime share losers have been Hindaco, ICICI Financial institution, Vedanta, Bajaj Finance, Tata Motors, Indusind Financial institution and HDFC, buying and selling between 10.31 per cent and 11.48 per cent decrease. Market breadth was extremely detrimental with an advance-decline ratio of three:1, as 511 shares traded increased on the BSE in opposition to 1,838 that moved decrease.

  3. Reliance Industries shares fell greater than Three per cent to Rs 1,419.75 apiece on the BSE in the course of the session, after the operator of the world’s greatest 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 stated personal 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 pare debt. 

  5. Analysts say weak point in world markets together with weak earnings again house 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,” stated  Anita Gandhi, director at Arihant Capital Markets.

  7. HUL shares fell greater than 5 per cent to Rs 2,075.40 apiece on the BSE, as in opposition to their earlier shut of Rs 2,195.70. On Thursday, the fast-moving shopper items main reported a 3.5 per cent fall in internet revenue to Rs 1,515 crore for the quarter ended March 31.

  8. The benchmark indices 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 Dangle 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 acquire.

  9. European shares began the day on a detrimental be aware, with the UK’s FTSE benchmark index final seen down 0.42 per cent, whereas France’s CAC and Germany’s DAX indices have 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 Road 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 stated there was “a major 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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