Sensex Falls Over 550 Points, Nifty Below 8,100 Amid Volatile Trade: 10 Things To Know

Sensex Falls Over 550 Points, Nifty Below 8,100 Amid Volatile Trade: 10 Things To Know
Market breadth turned largely positive in afternoon
  1. At 12:34 pm, the Sensex traded 510.14 points - or 1.80 per cent - lower at 27,755.17 while the Nifty was down 140.50 points (1.70 per cent) at 8,113.30. Most sectors except pharmaceutical and consumer goods moved lower, with the banking, automobile and metal stocks being the worst hit.
  2. In the 50-scrip Nifty index, 33 stocks suffered losses at the time. Top percentage laggards were Kotak Mahindra Bank, IndusInd Bank, Titan, Wipro, JSW Steel, ICICI Bank and HDFC, trading between 5.09 per cent and 6.53 per cent lower. On the other hand, Sun Pharma, Cipla, GAIL and ITC - up between 4.99 per cent and 10.07 per cent - were among the top gainers.
  3. HDFC (down 5.06 per cent), ICICI Bank (5.41 per cent) and Kotak Mahindra Bank (6.61 per cent) together accounted for a loss of more than 300 points in the Sensex.
  4. "There are persistent concerns because, globally, cases and deaths are rising," news agency Reuters quoted Saurabh Jain, assistant vice president at SMC Global Securities, as saying. "Markets are quite jittery and the solution given by the government and central bank don't seem to be enough."
  5. Market breadth turned largely positive in afternoon from negative in the first half of the session, as 1,017 stocks on the BSE traded higher against 935 that moved lower. On the NSE, 898 stocks advanced while 809 declined.
  6. The coronavirus cases in India crossed the 2,000 mark and death toll rose to 53 in the second week of the three-week countrywide lockdown imposed by the government to curb the spread of the deadly Covid-19 disease. 
  7. Equities in other Asian markets moved cautiously, with MSCI's broadest index of Asia Pacific shares outside Japan last seen trading 0.15 per cent lower and Japan's Nikkei 225 benchmark up 0.31 per cent. A gauge of stocks across the globe advanced 1.24 per cent overnight, adding to modest gains earlier in Europe.
  8. Overnight in the US, Wall Street jumped more than 2 per cent as hopes for a truce in the price war between Saudi Arabia and Russia and a cut in oil output drove gains, taking some sting out of a shocking jump in Americans filing jobless claims due to coronavirus-led lockdowns. The number of Americans filing claims for unemployment benefits shot to a record high for a second week in a row - topping 6 million - as more states enforced stay-at-home measures to curb the coronavirus pandemic
  9. The United Nations said the global economy could shrink by up to 1 per cent in 2020 due to the coronavirus pandemic, a reversal from the previous forecast of 2.5 per cent growth, warning that it may contract even further if restrictions on the economic activities are extended without adequate fiscal responses.
  10. On Wednesday, the Sensex had ended 1,203.18 points (4.08 per cent) lower at 28,265.31 and the Nifty settled at 8,253.80, down 343.95 points (4.00) from the previous close. 
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