Thank you, readers! Here are the main highlights from today’s trading session##Thank you, readers! Here are the main highlights from today’s trading session

- Market Erases Friday’s Gains, Records The 2nd Biggest Single-day Fall

- Nifty Ends At 3-year Low, Sensex At 30-month Low

- Nifty Slumps 758 Points (7.6 percent) To 9,197, Sensex 2,713 Points (8 percent) To 31,390

- Nifty Bank Slides To 34-month Low and Midcap Index To 4-year Low

- Midcap Index Falls 913 Points (6.2 percent) To 13,695 and Nifty Bank 2,065 Points (8.2 percent) To 23,101

- All Sectoral Indices Close In The Red; Metal and Realty Top Losers

- Volatility Index Surges More Than 14 percent To Highest Levels In 12 Years

- 49 Of 50 Stocks Close In The Red; IndusInd Bank, JSW Steel, Tata Steel Top Losers

- Yes Bank, the Only Nifty Stock To End In The Green

- Vodafone Idea Gains 2 percent After DoT Moves Supreme Court, Batting For Telecom cos

- HPCL Ends 4 percent In The Green After Govt Announces Excise Duty Hike

- BSE Erases Market Cap Of 7.5 Lakh Crore Today

- Market Breadth Favours Declines; NSE Advance-Decline Ratio At 1:5

Mar 16, 2020 3:48 PM

Closing Bell: Sensex, Nifty end nearly 8% lower; YES Bank only gainer##Closing Bell: Sensex, Nifty end nearly 8% lower; YES Bank only gainer

Indian shares sank on Monday as the US Federal Reserve’s emergency move to cut rates back to near zero and disappointing economic data out of China spooked investors about the impact of the coronavirus outbreak on global growth. The Reserve Bank of India has also announced a press conference at 4:00 pm today which will be addressed by Governor Shaktikanta Das.

The BSE Sensex ended the day 2,713 points lower at 31,390, while the Nifty50 ended 758 points lower at 9,197. Broader markets also bled With Nifty Midcap index down 6.9 percent, while the Nifty Smallcap index shed 6.7 percent during the day.

All sectoral indices also ended the day in the red. Nifty Metal lost nearly 9 percent, whereas Nifty Bank, Nifty IT, and Nifty Realty shed over 8 percent during the day. Nifty Auto and Nifty FMCG also fell over 5 percent and Nifty Pharma was down 4.2 percent. Among stocks, YES Bank was the only gainer in the Nifty50 index, while IndusInd Bank, JSW Steel, Tata Steel, Vedanta, and ICICI Bank led the losses.

Mar 16, 2020 3:36 PM

How top stock markets have fared in 2020: China surprises; find out where India ranks

Mar 16, 2020 3:26 PM

Phoenix Mills shares plunge 15% after CLSA downgrade##Phoenix Mills shares plunge 15% after CLSA downgrade

Shares of Phoenix Mills Ltd fell almost 15 percent on Monday after the global rating agency CLSA downgraded the stock to ‘Underperform’ from ‘Buy’ with a target price of Rs 850 per share. The stock plunged 14.93 percent to touch intraday low of Rs 639.25 per share as against the previous of Rs 751.50 on the BSE. According to CLSA, the mall shutdown after the government order to limit the coronavirus spread could impact the company’s near-term earnings.

Mar 16, 2020 3:15 PM

Most airlines in the world will be bankrupt by end of May, warns CAPA##Most airlines in the world will be bankrupt by end of May, warns CAPA

Most airlines in the world will be bankrupt by the end of May 2020 and only coordinated action by government and industry can save them, global aviation consultancy firm CAPA has said. "By the end of May-2020, most airlines in the world will be bankrupt. Coordinated government and industry action is needed - now - if catastrophe is to be avoided," CAPA- Centre for Aviation, said in its latest note on the global situation. Demand for travel has fallen drastically since the last two weeks after countries across the world implemented travel advisories and Visa restrictions, aimed at preventing spread of the deadly coronavirus.

Mar 16, 2020 3:07 PM

Mar 16, 2020 2:58 PM

Coronavirus impact: Retailers see 30-40% sales surge as customers rush to buy essentials

Mar 16, 2020 2:45 PM

Here's what Vaibhav Sanghavi of Avendus Capital is recommending during this scare##Here's what Vaibhav Sanghavi of Avendus Capital is recommending during this scare

In such volatile times for the market should retail investors start buying at dips is the big question. Vaibhav Sanghavi, Co-CEO of Avendus Capital Alternate Strategies Private Limited said is of the view that it is very tricky time and probably the volatility is purely because of the event that is the spread of virus.

"Now we have to understand that till the time the news flow keeps coming, the volatility in the market will continue. Having said that independently if we try and assess the valuation piece in terms of the businesses, then they are available at attractive valuation. So if somebody has a risk appetite and is able to see through the volatile times then probably it is probably good to start nibbling,” he said.

Mar 16, 2020 2:32 PM

Coronavirus effect: PVR, INOX Leisure shares plunge up to 19%##Coronavirus effect: PVR, INOX Leisure shares plunge up to 19%

Shares of multiplex operators on Monday fell sharply by up to 19 percent after various states announced closure of cinema halls till March 31 in view of Covid-19 outbreak. PVR tumbled 18.85 percent to its 52-week low of Rs 1,045.85, and INOX Leisure plunged 14.77 percent to hit its day's low of Rs 270 on the BSE. In view of the coronavirus threat, several states have announced to close cinema halls till March 31. The move will hit business of mutiplex operators which dent their profitability in days to come, traders said.

Mar 16, 2020 2:18 PM

Mar 16, 2020 2:04 PM

RBI may cut repo rate by 50 bps today, say experts##RBI may cut repo rate by 50 bps today, say experts

Coronavirus has hit global economies hard and central banks across the world are trying to combat it. The US Federal Reserve cut rates to zero and launched a massive $700 billion quantitative easing program early on Monday morning. Bank of Japan has followed suit by easing monetary policy further by ramping up purchases of exchange-traded funds (ETFs) and other risky assets.

The Reserve Bank of India has also announced a press conference at 4:00 pm which will be addressed by Governor Shaktikanta Das at 4:00 pm today. The calculated guess is that a rate action might be announced. Speaking to CNBC-TV18's Latha Venkatesh, Ananth Narayan, Professor at SPJIMR voiced that he expects the Indian central bank to cut rates by 50 bps.

Mar 16, 2020 1:48 PM

Oil slumps again as coronavirus hits demand and price war bites##Oil slumps again as coronavirus hits demand and price war bites

Oil fell on Monday as an emergency rate cut by the U.S. Federal Reserve failed to soothe global financial markets panicked by the rapid spread of the coronavirus, while a price war between top producers added to a growing supply glut. Brent crude fell $2.07 to $31.78 a barrel by 0729 GMT, extending last week’s plunge of 25 percent, which was the largest weekly fall since 2008. The front-month price opened at a high of $35.84 but slipped to a low of $31.63.

Mar 16, 2020 1:33 PM

Here's how various sectors are performing at this hour##Here's how various sectors are performing at this hour

Mar 16, 2020 1:17 PM

Market guru Yogesh Mehta of Yield Maximisers remains positive on these stocks##Market guru Yogesh Mehta of Yield Maximisers remains positive on these stocks

The latest analysis and commentary by stock market guru Yogesh Mehta of Yield Maximisers on what is moving the markets today. Mehta’s stock recommendations for the day are:

Buy Glenmark Pharmaceuticals Futures with a stop loss of Rs 220, target of Rs 240-250

Buy Aurobindo Pharma Futures with a stop loss of Rs 412, target of Rs 450

Buy Reliance Industries Futures with a stop loss of Rs 1,030, target of Rs 1,110

Mar 16, 2020 1:01 PM

NEWS ALERT: RBI Governor Shaktikanta Das to hold press conference at 4 pm##NEWS ALERT: RBI Governor Shaktikanta Das to hold press conference at 4 pm

Mar 16, 2020 12:47 PM

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