Sensex down 500 points, Nifty below 12K; metal stocks decline

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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. 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 12,080

Here’s a look at the live updates of the market action on BSE and NSE today:

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

9:00 AM

YES Bank, Cipla, Tech Mahindra, Escorts among others are the top stocks to watch out for in Monday’s trading session

Last 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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