Sensex Falls Over 400 Points, Nifty Near 11,900 Amid Selloff Across Sectors: 10 Things To Know
- At 12:45 pm, the Sensex traded 408.89 points - or 1.00 per cent - lower at 40,646.80 while the Nifty was down 125.10 points - or 1.04 per cent - at 11,920.70.
- Thirty eight stocks on the 50-scrip benchmark index were down at the time. Yes Bank, Bharti Infratel, IndusInd Bank, Tata Motors and NTPC - trading between 3.99 per cent and 7.67 per cent lower - were the top percentage losers in the Nifty. On the other hand, Indian Oil, Zee Entertainment, Bharat Petroleum, Tech Mahindra and Infosys - up between 0.42 per cent and 1.74 per cent - were the top Nifty gainers.
- The Nifty Bank - comprising stocks of 12 of the major lenders in the country - fell as much as 1.38 per cent. Bank of Baroda, IndusInd Bank, Yes Bank and Punjab National Bank were among the worst hit.
- Ten out of the 11 sectoral indices on the National Stock Exchange (NSE) struggled with losses, led by financial, auto, metal and energy stocks.Â
- Telecom stocks slumped, with the S&P BSE Telecom index dropping as much as 4.34 per cent, as components including Vodafone Idea and Bharti Airtel made part payments to the Department of Telecommunications (DoT) towards adjusted gross revenue (AGR)-related dues.
- Vodafone Idea and Bharti Airtel shares dived as much as 14.91 per cent and 3.96 per cent respectively during the session. Analysts covering the country's telecom sector say Vodafone Idea is the most fragile among the major wireless carriers.
- On the other hand, the Nifty Media index rose as much as 1.88 per cent during the session led by TV18 and Network18 Media, a day after Reliance Industries said it would merge its media and distribution businesses into its TV business.
- Global markets fell after a revenue warning from Apple signalled mounting financial fallout on businesses from the coronavirus epidemic in China. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1 per cent and Tokyo's Nikkei dropped 1.21 per cent.
- The iPhone maker warned on Monday that it was unlikely to meet a sales target set just three weeks ago amid lost production and weakening demand in China, which supplied 18 per cent of the company's revenue in the year-ago quarter, after the outbreak.
- The rapidly spreading virus has killed nearly 1,900 in China and stricken some 72,000 people, confining millions to their homes, disrupting supply chains and delaying reopening of factories after the extended Lunar New Year holiday break.
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