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Indian equity markets mirrored the sell-off across global equities as investors remain concerned over a second wave of Covid-19 infections.
Despite a brief recovery in the final hour of trade, benchmark indices ended with losses of over 1.5%.
The S&P BSE Sensex ended 1.63% lower at 33,228. The index managed to recover 300 points from the day's low of 32,923.
The NSE Nifty 50 index too ended with losses of 1.6% at 9,813, gaining almost 90 points from the day's low of 9,726.
Among the sectoral indices, private banks dragged the Nifty Bank lower and the index ended with losses of 3.5%. Nifty Realty was the other sectoral index which ended with losses of 3%.
Nifty Auto, FMCG and Metals index ended with losses between 1.5-2%.
Market breadth turned adverse towards the close of trade. 877 stocks on the NSE ended with gains while 948 declined.
GAIL is the top gainer on the Nifty 50 index, trading with gains of over 3% at Rs 99.35.
Shares gained as much as 6.5% to Rs 143.65, post the announcement.
Key Factors At Play For Tata Motors:
The company's wholly-owned subsidiary Tata Power Renewable Energy has received a Letter of Award from the Gujarat Urja Vikas Nigam to develop a 120 MW solar project in Gujarat.
The energy will be supplied under a Power Purchase Agreement (PPA) for a period of 25 years from the scheduled commercial operation date.
The project is to be commissioned within 18 months from the date of execution of the PPA, the company said in a statement.
The order win now takes the company's renewable capacity to 3,457 MW, out of which 2,637 MW is operational, according to its MD & CEO Praveer Sinha.
Shares trade 1.8% higher at Rs 42.45 and are up for the second straight day.
The currency ended with losses in today's session tracking weakness in the equity markets and strength in the U.S. dollar.
The rupee ended at 76.03 against the green back, as compared to Friday's close of 75.84. It made an intraday low of 76.15.
The currency ended above the mark of 76 for the first time since April 28 this year.
The rupee was also the fourth worst performing Asian currency in today's trading session, behind the Malaysian Ringgit, Philippine Peso and the South Korean Won.
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The lender has informed the exchanges that it has received preliminary, non-binding Letter of Intent (LoI) from Clix Capital and Clix Finance India.
The Board of Directors of the bank has considered this proposal for further processing, according to the bank's exchange filing.
The non-binding LoI is subject to completion of due diligence and that the bank routinely evaluates capital raising options, according to its statement.
Shares are locked in an upper circuit of 5% at Rs 15.3, post the announcement.
Shares gained as much as 12% to Rs 25.70, post the announcement.
Let's take a look at how benchmarks across Europe have opened:
Two other large trades have taken place on the state-run oil refiner after one earlier in the session.
The second large trade saw 36.4 lakh shares exchange hands while the 13.7 lakh shares exchanged hands in the third one.
51.1 lakh shares had earlier exchanged hands in a single large trade in today's session.
Shares are 1.5% lower at Rs 86.95 per share, near the lowest point of the day.
Shares are trading little changed at Rs 478.50 per share.
India's wholesale prices fell more than estimate in the month of May. Prices fell 3.21% in May as compared to an estimate of a decline of 1.2%.
A Bloomberg survey of 16 economists projected a range between -2 to 0.17%.
Prices of primary articles fell 2.92% compared to last year.
Power, fuel and lighting prices fell 19.8% compared to last year.
Manufactured product prices fell 0.42% while wholesale food prices rose 1.13% compared to the previous year.
WPI for the month of March has been revised to 0.42% from 1%.
Shares gained as much as 8.7% to Rs 173 and are up in five out of the last six sessions.
The capital goods company reported a net loss of Rs 1,532 crore for the March quarter as compared to a net profit of Rs 680.7 crore during the same period last year.
Revenue for the company declined 51.3% while it had an Ebitda loss of Rs 559.6 crore for the quarter gone by.
Ebitda margins stood at a negative 11% from a positive 13.4% in the previous year.
Brokerage firm Morgan Stanley has termed the fourth quarter as one of the worst in the company's history. It maintained its underweight rating on the stock with a price target of Rs 18, citing a stretched balance sheet.
12 lakh shares of the company also exchanged hands in a single large trade this morning, according to Bloomberg data. Buyers and sellers of the trade were unknown.
Shares fell as much as 9.4% to Rs 28.45 - its biggest single-day drop in three months. It is also the worst performing stock on the Nifty Midcap Index.
Shares are locked in an upper circuit of 20% at Rs 346.
In another production resumption update, the wheels manufacturer has informed the exchanges about the continued momentum in segment sales.
The company has revised its production guidance higher for the June to September period, citing contributions coming from the PV and the two and three-wheelers segment.
It is now expecting to reach a gross revenue of Rs 135-140 crore by September 2020.
Shares rose as much as 5.8% to Rs 377.5, post the announcement, snapping a six-day losing streak. The streak was the longest for the stock in three months.
Shares are off the day's low after having fallen as much as 12.1% to Rs 9.80.
The specialty chemicals company reported an 18.7% decline in its revenue for the March quarter as compared to the previous year.
Net profit declined 9.6% while margins remained flat at 41.4% year-on-year.
The board has also recommended a final dividend of Rs 0.5 per share for FY20.
Shares fell as much as 5.7% to Rs 968.7 and are down for the second straight day.
51.1 lakh shares of India's largest oil refiner exchanged hands in a single large deal on the Bombay Stock Exchange.
Buyers and sellers of the trade were not immediately known as per Bloomberg data.
Shares are down for the fifth straight day, falling as much as 1.8% to Rs 86.75. This is the longest losing streak for the stock in over a month.
Brokerage firm Jefferies has raised its price target on the stock to Rs 20,000 from Rs 17,500 as it expects the company to capitalise on the potential demand recovery.
Shares gained as much as 3% to Rs 17,367 and are among the few gainers on the Nifty 50 index.
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Shares fell as much as 7.1% to Rs 852 and are down for the third straight day.
Indian equity markets opened with a negative bias at the start of the new trading week, tracking weak cues from Asia and the U.S.
The S&P BSE Sensex opened 0.33% lower at 33,670 while the NSE Nifty 50 index opened at 9,919, down 0.54%.
Both the benchmark indices reported losses of over 1.5% last week.
Among sectoral indices, the Nifty Bank index opened 1% lower while the PSU Bank and realty indices opened with a negative bias.
The Nifty Media Index was the top sectoral gainer, up 1.2% at open.
Market breadth was in favour of the gainers at the start of trade. 950 stocks on the NSE opened with gains while 606 declined.
To know more about companies sharing their Covid-19 updates, other earnings reported after market hours and brokerage views, click here.
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