Nifty Logs Worst Day In 6 Weeks After Government Extends COVID-19 Lockdown: 10 Things To Know
- The NSE Nifty 50 ended 566.40 points - or 5.74 per cent - lower at 9,293.50 - its worst day since March 23 - whereas the S&P BSE Sensex settled at 31,715.35, down 2,002.27 points - or 5.94 per cent - compared to its previous close. The Nifty Bank index - comprising stocks of 12 major lenders in the country - closed 8.32 per cent lower, having plummeted as much as 8.78 per cent during the session.
- In the 50-scrip Nifty basket, 47 shares closed lower. Top percentage losers were Hindalco, ICICI Bank, Vedanta, Bajaj Finance, HDFC and Tata Motors, ending between 9.87 per cent and 10.68 per cent lower. HDFC Bank (ending 7.86 per cent lower), HDFC (10.08 per cent) and ICICI Bank (10.96 per cent) alone accounted for a loss of 886.79 points in the Sensex.
- Reliance Industries settled with a loss of 2.16 per cent at Rs 1,435.40 on the BSE, having fallen more than 3 per cent during the session, after the operator of the world's biggest refining complex reported a 39 per cent drop in its March quarter profit to Rs 6,348 crore - its steepest fall since December 2008 - on a sharp fall in oil prices and lower fuel demand, missing analysts' estimate.
- On Monday, Reliance Industries said private equity firm Silver Lake will invest Rs 5,656 crore in its digital arm, Jio Platforms, days after securing a $5.7 billion investment from Facebook as the conglomerate looks to pare debt.Â
- Market breadth was highly negative with an advance-decline ratio of 3:1, as 574 stocks rose for the day on the BSE against 1,841 that fell. Analysts say weakness in global markets along with weak earnings back home hurt investor sentiment.
- "Hindustan Unilever Limited (HUL) reported de-growth in volumes. Auto companies are reporting zero sales and global sentiment is negative," Anita Gandhi, director at Arihant Capital Markets, told NDTV.
- HUL shares closed 5.16 per cent lower at Rs 2,082.30. On Thursday, the fast-moving consumer goods major reported a 3.5 per cent fall in net profit to Rs 1,515 crore for the quarter ended March 31.
- The domestic markets also tracked losses in global markets, where equities fell amid a spat between the US and China over the origin of the outbreak. While Japanese and Chinese markets remained shut for a holday on Monday, South Korea's KOSPI fell, Hong Kong's Hang Seng returned from a two-session holiday with a 3.5 per cent drop, but Australia's ASX 200 eked out a 0.5 per cent gain.
- European shares started the day on a negative note, with the UK's FTSE benchmark index last seen down 0.42 per cent, while France's CAC and Germany's DAX indices were down 4.23 per cent and 3.60 per cent respectively.
- US stock futures fell 1.7 per cent, indicating a weak start for Wall Street on Monday. US President Donald Trump and Secretary of State Mike Pompeo added to worries with fresh efforts to pin blame for the pandemic on China, where the new coronavirus outbreak is believed to have originated. The latest salvo came from Mr Pompeo on Sunday who said there was "a significant amount of evidence" that the virus emerged from a laboratory in the central Chinese city of Wuhan.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
