15:40 (IST)
Sensex, Nifty ends day with gains
Sensex ended the day with gains of 1,325.34 points or 4.04 percent at 34103.48, and the Nifty surged 433.55 points or 4.52 percent at 10023.70.
State Bank of India, Tata Steel and HDFC are the top gainers while SBI, Reliance Industries and HDFC Bank are the most active stocks.
14:13 (IST)
Govt, RBI to take all necessary steps to quell ‘fear sentiment’ around coronavirus: CEA
The government and the RBI will take all necessary steps to quell the “fear sentiment” created due to coronavirus, Chief Economic Advisor Krishnamurthy Subramanian said on Friday.
He said the fall in Indian stock indices is lower than the decline witnessed globally and the situation in India will stabilise over the next few weeks as focus shifts to economic fundamentals like declining inflation, growing industrial production and adequate forex reserves.
“The government is seriously considering and looking at all aspects of this situation and the government together with the regulator will definitely respond when it is necessary. Market reaction is not reflecting fundamentals, fundamentals (of Indian economy) are improving,” Subramanian told reporters here.
13:45 (IST)
Stimulus hopes pull global stocks back from abyss
Stocks plunged on Friday with coronavirus panic selling hitting nearly every asset class before finding some kind of floor as hopes turned to a US stimulus package.
European and US stock futures traded in positive territory and some of Asia’s deepest losses were recovered by the end of a session, in which tight liquidity exaggerated moves.
Japan’s Nikkei fell 10 percent before paring the drop to close 6 percent lower. Australia’s S&P/ASX200 had its wildest trading day on record, falling past 8 percent before surging in the last minutes of trade to settle 4.4 percent higher after the close.
13:26 (IST)
Sensex, Nifty recover from previous lows
#Sensex reclaims 34,000, #Nifty 10,000 in the biggest intra-day recovery pic.twitter.com/FXlsJmTGan
— CNBC-TV18 (@CNBCTV18Live) March 13, 2020
13:23 (IST)
Rupee reclaims lost ground, spurts 36 paise in mid-session
The Indian rupee staged a recovery in the afternoon session on Friday, trading 36 paise higher against the US dollar, after the Reserve Bank stepped in to maintain sufficient liquidity in the panic-stricken currency market.
Seeing the heavy rush for the US dollar among participants, the RBI announced liquidity measures such as buy-sell swap of USD 2 billion to increase dollar availability with banks and ease pressure on the rupee.
At the interbank foreign exchange, the rupee opened at 74.39 and went on to hit the day’s low of 74.50 against the US dollar as investors panicked weighing turmoil in financial markets globally due to coronavirus pandemic
13:17 (IST)
Gold futures fall on weak global cues
Gold prices on Friday fell by Rs 353 to Rs 41,853 per 10 gram in futures trade as participants cut down their positions tracking a weak trend overseas.
On the Multi Commodity Exchange, gold prices for April delivery fell by Rs 353, or 0.84 percent, to Rs 41,853 per 10 gram in a business turnover of 4,338 lots.
The yellow metal for June delivery declined by Rs 432, or 1.01 percent, to Rs 42,391 per 10 gram in 996 lots. Analysts said subdued overseas cues influenced sentiments here.
Globally, gold was trading 0.17 percent lower at $1,587.60 per ounce in New York.
12:52 (IST)
Asian shares plunge; trim losses later after Wall Street sell-off
Asian shares plunged, then recovered slightly as Friday the 13th brought still more turmoil to markets reeling from uncertainty over the coronavirus crisis.
Benchmarks in Japan, Thailand and India sank as much as 10 percent following Wall Street’s biggest drop since the Black Monday crash of 1987. Tokyo’s Nikkei 225 fell nearly 6 percent. Sensex swayed between gains and losses after a 10 percent crash briefly halted trading. In Bangkok, the Thailand SET gained 0.5 percent after a temporary suspension of trading earlier in the day.
Markets worldwide have retreated as fears of economic fallout from the coronavirus crisis deepen and the meltdown in the US, the world’s biggest economy, batters confidence around the globe.
12:45 (IST)
Markets at a glance
#CNBCTV18Market | Frontline indices recover completely and then some more to trade at day’s high.#Sensex 4,200 points or 14% off lows, #Nifty 1,300 points or 14.5% off lows,#Nifty Midcap 1,700 points or 13% off lows,#Nifty Bank 3,300 points of 16% off lows pic.twitter.com/K5BjgZVaZf
— CNBC-TV18 (@CNBCTV18Live) March 13, 2020
12:37 (IST)
SBI shares up
SBI’s executive committee of the central board on Thursday approved the purchase of 725 crore shares in private sector lender Yes Bank at a price of Rs 10 per share.
#CNBCTV18Market | State Bank of India (@TheOfficialSBI) surges in trade, gains more than 30% from day’s low #sensex #nifty #StockMarket pic.twitter.com/J6xX194edN
— CNBC-TV18 (@CNBCTV18Live) March 13, 2020
12:31 (IST)
Stock market reaction not reflecting fundamentals: CEA
@SubramanianKri says the #StockMarket reaction is not reflecting fundamentals. He adds that India has adequate foreign reserves #CoronavirusOutbreak pic.twitter.com/XGficNHqaU
— CNBC-TV18 (@CNBCTV18Live) March 13, 2020
12:28 (IST)
Stock markets claw back losses after virus-fuelled crash
The Sensex was up 508.60 points at 33,286.74 while the Nifty was 142.55 points up at 9732.70.
Trading on the exchanges hit a “circuit breaker” a few minutes into Friday’s session, the first time since 2009, as widespread panic over the coronavirus pandemic gripped global markets. Indian indexes swung wildly after the markets resumed trading at 10 AM.
12:18 (IST)
Global factors impact stock market: CEA
Chief Eco Adviser @SubramanianKri #OnCNBCTV18 says the current developments in the #StockMarket are related to global factors.
Talking about inflation, the CEA says it should come down to core levels by July#Sensex #Nifty #CoronavirusPandemic pic.twitter.com/pXruCdInYb
— CNBC-TV18 (@CNBCTV18Live) March 13, 2020
12:06 (IST)
Jet Airways stock hits lower circuit
Shares of Jet Airways on Friday plunged as much as 4.74 per cent to hit lower price band on the BSE as its deadline for submission of bids ended. The stock was locked in lower circuit on the BSE and the NSE at Rs 18.05 and Rs 17.70, respectively.
Jet Airways’ Committee of Creditors (CoC) on Thursday decided to approach the National Company Law Tribunal (NCLT) to seek two months’ extension of deadline for submission of bids, which expired on Tuesday.
12:05 (IST)
Yes Bank shares gain nearly 10 percent
Shares of Yes Bank on Friday rose nearly 10 percent after State Bank of India (SBI) said it will infuse Rs 7,250 crore into the crippled private sector lender. The scrip witnessed a sharp rise, spiking 9.98 percent to Rs 27.55 on the BSE. On the NSE, it jumped 10.57 percent to Rs 27.70.
The largest lender State Bank of India on Thursday announced a Rs 7,250-crore fund infusion into the crippled Yes Bank under which it will pick up to 49 per cent equity in the fourth largest private sector lender.
12:01 (IST)
Sensex dips, Nifty recovers
The indices dipped again with Sensex down 64.78 points at 32,738.13.
The Nifty was 9.40 points up at 9,599.55
11:47 (IST)
Gold price today: Yellow metal falls over 1% as margin calls mount on traders
11:32 (IST)
Brent crude set for worst week since 1991 as oil falls third day
Oil fell a third day as the horror show for crude investors continued on Friday amid panic about evaporating demand from the coronavirus pandemic, with Brent set for its biggest weekly loss since 1991 and U.S. crude heading for its worst week since 2008.
Brent crude was down 47 cents, or 1.4 percent, at $32.75 a barrel by 0317 GMT after falling more than 7 percent on Thursday. For the week, Brent is set to fall nearly 28 percent, the biggest weekly decline since the week of Jan. 18, 1991, when it fell 29 percent at the outbreak of the first Gulf War.
11:30 (IST)
Rupee reverses losses
The rupee, which earlier fell to a record low of 74.508 against the dollar, reversed losses to trade 0.48% stronger at 73.985.
11:29 (IST)
Nirmala Sitharaman presser at 3 pm
Union Ministers Nirmala Sitharaman, Piyush Goyal & Prakash Javadekar to brief media on Union Cabinet decisions at 3 pm today.
11:17 (IST)
Market recovers from mayhem
The NSE Nifty 50 index was up 1.1 percent at 9,672.9 by 0521 GMT, while the benchmark S&P BSE Sensex traded up 1 percent at 33,213.19.
Trading on the exchanges were halted a few minutes into Friday’s session after a 10 percent plunge and resumed at 0450 GMT.
The rupee, which earlier fell to a record low of 74.508 against the dollar, reversed losses to trade 0.48 percent stronger at 73.985.
11:15 (IST)
Sensex zooms about 4,000 points, Nifty up 1,200 points from opening lows
#SharpRecovery | Market sees the biggest intra-day recovery ever, #Nifty up 1,200 points, #Sensex 4,000 points from lows pic.twitter.com/aQziAaXEfJ
— CNBC-TV18 (@CNBCTV18Live) March 13, 2020
11:12 (IST)
Sensex recovers over 2,100 points, currently at 32,446.87 https://t.co/aLfvOGxqIF
— ANI (@ANI) March 13, 2020
11:07 (IST)
Markets make intra-day trade recovery
#SharpRecovery | Market sees the biggest intra-day recovery ever, #Nifty up 1,200 points, #Sensex 4,000 points from lows pic.twitter.com/aQziAaXEfJ
— CNBC-TV18 (@CNBCTV18Live) March 13, 2020
11:02 (IST)
Global stocks crash as pandemic panic sweeps markets
Global stock markets crashed on Friday, ending a years-long bull run, with coronavirus panic selling hitting almost every asset class and leaving investors nowhere to hide.
Half a trillion dollars in liquidity from the US Federal Reserve and the promise of more were not enough to calm the fear that has wiped some $14 trillion from world stocks in a month.
On Friday, Japanese stocks were in freefall and markets from Seoul to Jakarta punched through downlimit circuit breakers. The Nikkei dropped as far as 10 percent and is heading for its worst week since the 2008 financial crisis. Not one stock on the index is in positive territory.
10:59 (IST)
Rupee sinks another 16 paise today
The Indian rupee fell by another 16 paise to 74.44 against the US dollar on Friday as financial markets around the globe continued to feel jitters of coronavirus pandemic. A day earlier, the Indian currency had tumbled by 60 paise to close at a new 17-month low of 74.28 amid coronavirus pandemic fanning global economic recession fears.
A sense of anxiety among investors has developed as they see the global economy is plunging into a deep crisis due to coronavirus pandemic that has killed about 5,000 and sickened lakhs of people around the globe, analysts said.
Amid the heavy rush for the US dollar in forex markets, the Reserve Bank announced liquidity measures such as buy-sell swap of USD 2 billion to increase dollar availability with banks and ease pressure on rupee.
10:57 (IST)
Markets recover sharply from the opening mayhem
Sensex is trading 38.94 points, or 0.12 percent down at 32,739.20. The Nifty rises 68.65 points or 0.72 percent at 9,658.80
10:54 (IST)
Selloff erodes nearly Rs 12 lakh crore investor wealth
Investor wealth worth nearly Rs 12 lakh crore was wiped off in less than 15 minutes of trade opening on Friday, with benchmarks crashing over 10 per cent on mounting fears over coronavirus pandemic. The mayhem on Dalal Street eroded investor wealth worth Rs 12,92,479.88 crore, taking the total m-cap to Rs 1,12,78,172.75 crore on the BSE at 1020 hours. The m-cap of BSE-listed companies stood at Rs 1,25,70,652.63 crore at the end of trading on Thursday.
10:44 (IST)
Rupee recovers
After hitting a record low in the early trade on March 13, the Indian rupee has recovered 50 paise from the lows as it is trading at 74.03. The rupee touched a record low of 74.50 per dollar in the initial trade on worries over the coronavirus pandemic.
Stock Market Today LATEST Updates: Sensex ended with gains of 1,325.34 points or 4.04 percent at 34103.48, and the Nifty surged 433.55 points or 4.52 percent at 10023.70. State Bank of India, Tata Steel and HDFC are the top gainers while SBI, Reliance Industries and HDFC Bank are the most active stocks.
The NSE Nifty 50 index was up 1.1 percent at 9,672.9 by 0521 GMT, while the benchmark S&P BSE Sensex traded up 1 percent at 33,213.19.
Trading in India’s main Nifty 50 stock index was halted early on Friday after it fell 10 percent and hit a “circuit-breaker”, as investors continued to panic over the impact of the fast-spreading coronavirus outbreak on global growth.
The blue-chip NSE Nifty 50 index was last down 10.07% at 8,624.05 at 0351 GMT, a more than three-year low. Trading was scheduled to resume after 45 minutes.
Sensex plummeted over 3,200 points and the broader Nifty sank near 8,600 level, hitting their lower circuit limits, in the opening session on Friday as coronavirus pandemic-led recession fears fuelled worldwide panic.
Manic selling across the globe rendered stocks at multi-year lows.
Continuing its downward spiral, domestic BSE Sensex sank 3,213 points in early trade, plummeting 10.86 percent to 29,564.58, which triggered the lower circuit limit. Similarly, the NSE Nifty cracked 966.10 points, or 10.07 percent, to 8,624.05.
In the previous session, the 30-share BSE barometer settled 2,919.26 points or 8.18 percent lower at 32,778.14, and the broader Nifty slumped 868.25 points or 8.30 percent to close at 9,590.15.
All Sensex components were in the red. HCL Tech was the top loser, tanking up to 15 per cent, followed by Tech Mahindra, Kotak Bank, TCS, IndusInd Bank, Axis Bank and NTPC.
On a net basis, foreign institutional investors sold equities worth Rs 3,475.29 crore on Thursday, data available with stock exchanges showed.
According to traders, volatility heightened in global markets as benchmarks world over went into panic mode, insinuating a freakish selloff.
Wall Street lost 10 percent in its worst session since 1987, while London also had its worst day since that year.
Frankfurt had its blackest day since 1989, the year the Berlin Wall fell, while Paris suffered its worst one-day loss on record.
Besides selloff in global equities, choppiness in international oil prices and depreciating rupee added to investor concerns, they added.
Brent crude oil futures dropped 0.90 percent to $32.92 per barrel.
Further, incessant foreign fund outflow also spooked market participants, traders said.
Elsewhere in Asia, bourses in Shanghai dropped over 3.32 percent, Hong Kong 5.61 percent, Seoul 7.58 percent and Tokyo cracked up to 7.97 percent.
More than 130,000 cases of the novel coronavirus have been recorded in 116 countries and territories, killing at least 4,900 people.
The number of coronavirus patients in India has risen to 74, as per the health ministry log.
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Updated Date: Mar 13, 2020 15:48:15 IST
