Market At Close##Market At Close

- Steep Crude Fall Leads To A Global Sell-off; BSE Erases Market Cap Of Rs 6.9 Lk Cr

- Sensex, Nifty & Nifty Bank Post The Biggest Single-day Fall Ever

- Midcap Index Records The Biggest Single-day Fall In 2 Yrs

- Nifty Closes 538 Points Lower At 10,451, Sensex Slips 1,942 Points To 35,635

- Midcap Index Down 742 Points To 15,633 & Nifty Bank 1,339 Points To 26,463

- 46 Of 50 Nifty Stocks Close In The Red; ONGC, Vedanta, RIL Top Losers

- All Sectoral Indices Close In The Red, Metal Top Losing Index

- Volatility Index Surges 15 percent To End At A 6-YEAR Closing High

- Reliance Top Contributor To Nifty Fall, Sees The Biggest 1-day Fall In 11 Years

- Yes Bank Up 32 percent, Regains Over 50 percent Of The Losses Seen On March 6

- HPCL & BPCL Gain 4-5 percent While ONGC, Reliance, Oil India Slip On Crude Fall

- 839 BSE Stocks Close At 52-week Lows

Mar 9, 2020 3:49 PM

Closing Bell: Sesnex sinks nearly 2000 points, Nifty below 10,500 amid global rout, crash in oil prices##Closing Bell: Sesnex sinks nearly 2000 points, Nifty below 10,500 amid global rout, crash in oil prices

Indian shares tumbled over 4 percent on Monday following a slide in global peers as fears intensified over the spread of coronavirus outbreak and oil prices plunged. The BSE Sensex ended 1942 points lower at 35,635 while the Nifty50 index settled 538 points higher at 10,451.

A sell-off triggered by the economic fallout of the virus outbreak has wiped 9 percent off the Nifty in the past two weeks, with the drop worsened by the turmoil at Yes Bank, one of the country’s largest lenders. The Nifty hit its lowest since February 2019 and was on course for its worst day since August 2015.

The broader markets also ended the day in the red with Nifty Midcap and Nifty Smallcap indices down around 5 percent each. Among stocks, Yes Bank, BPCL, Bharti Infratel, and Eicher Motors were the top Nifty50 gainers, while ONGC, Vedanta, RIL, Zee, and IndusInd Bank led the losses.

Shares in Yes Bank were up 32 percent, after falling 56 percent on Friday. A court on Sunday remanded its founder in police custody after he was arrested on money-laundering charges, following a move by the central bank to take control of the lender.

Mar 9, 2020 3:34 PM

Explained: Why crude oil fell the most in nearly 3 decades, and what it means for India

Mar 9, 2020 3:22 PM

Mar 9, 2020 3:10 PM

Indiabulls Housing says Yes Bank owes it Rs 662 crore in form of bonds; no term loans outstanding##Indiabulls Housing says Yes Bank owes it Rs 662 crore in form of bonds; no term loans outstanding

Indiabulls Housing Finance on Sunday said Yes Bank owes it Rs 662 crore in the form of bonds to the company and it has no term loans outstanding from the lender. "We wish to inform that Yes Bank owes to Indiabulls Housing Finance Rs 662 crore via additional tier 1 (AT-1) bonds," it said in a regulatory filing.

The investments in AT-1 bonds of Yes Bank were made in 2017, as part of its treasury management of over Rs 20,000 crore of cash and when the bank was worth over USD 10 billion in value, it said. Indiabulls Housing Finance has no term loans outstanding from Yes Bank," it said. READ MORE

Mar 9, 2020 2:58 PM

Reliance Industries falls 14% on slumping crude oil prices##Reliance Industries falls 14% on slumping crude oil prices

Shares of Reliance Industries slumped almost 14 percent in trade on Monday amid a sharp slump in global crude oil prices. The index heavyweight stock opened at the day's high of Rs 1,245 per share, down 2 percent from its Friday's close of Rs 1,270.05. It hit the day's low at Rs 1,094.95. Market experts say that falling crude prices has sowed the seeds of doubt in investor mind whether Saudi Aramco will invest money in RIL and that will impact the conglomerate's plan to clear its debt by 2021. READ MORE

Mar 9, 2020 2:42 PM

May see negative bond yields as risk off sentiment continues, says Wing Fung Financial Group##May see negative bond yields as risk off sentiment continues, says Wing Fung Financial Group

Crude prices marks the worst day since January 1991 Gulf War after OPEC failed to strike a deal with allies for production cut. In an interview to CNBC-TV18, Mark To, head of research at Wing Fung Financial Group spoke at length about if India would benefit from this and the outlook for crude prices. He said that the current situation indicates panic beyond fundamentals. “We can see that coronavirus is spreading and the whole world is having a concern or panic on the risk. So sooner or later the risky assets are going to have a significant impact negatively but the overall situation now is more than the changes in the fundamental and more than the changes in the demand side,” he added. READ MORE

Mar 9, 2020 2:26 PM

Mar 9, 2020 2:11 PM

Crude plunges: Right time to develop strategic reserve for oil, says Invesco Mutual Fund##Crude plunges: Right time to develop strategic reserve for oil, says Invesco Mutual Fund

Globally, oil prices fell on Monday after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to unleash its pent-up supply onto a market reeling from falling demand because of the coronavirus outbreak. Markets right now might face a demand shock globally, said Taher Badshah, CIO-equities at Invesco Mutual Fund. “This is a time when we can develop strategic reserve on oil and from more macro standpoint it would be good for the country. Some of the crude sensitive stocks like oil and gas companies, oil marketing companies, utilities and users of fuel as well are going to be beneficial." READ MORE

Mar 9, 2020 2:04 PM

Expect 74.50 to the dollar rupee level to be maintained for quite some time, says Axis Bank##Expect 74.50 to the dollar rupee level to be maintained for quite some time, says Axis Bank

The money market is witnessing a lot of action. After a long time the 10-year bond yields were at 6.07 percent. The rupee is also trading at the lowest level since October 2018, at 74 to the dollar. At the back of these developments, would there be an intermittent rate cut by the Reserve Bank of India (RBI) is the big question. Neeraj Gambhir, President Head-Treasury and Markets, Axis Bank is of the belief that chances of the central bank moving ahead of Monetary Policy Committee (MPC) have diminished.

“After the Fed unscheduled rate cut, we have not seen any other central bank come out and do any monetary policy action. We have the European Central Bank (ECB) meet on March 12th and after that Fed on 18-19th. So, we will have to see what both of these central banks do in these meetings," he said, adding that we also have Bank of Japan meet on March 26. READ MORE

Mar 9, 2020 1:50 PM

Sectoral Trend at this hour##Sectoral Trend at this hour

Mar 9, 2020 1:36 PM

Mar 9, 2020 1:23 PM

YES Bank may lift withdrawal limit as early as this week, says administrator Prashant Kumar##YES Bank may lift withdrawal limit as early as this week, says administrator Prashant Kumar

The imposition of a withdrawal cap on YES Bank’s depositors and the bank’s dramatic takeover by a Reserve Bank of India-appointed administrator on March 5 meant the bank’s liquidity situation was fragile. Still, Prashant Kumar, the newly-appointed administrator is clear that the bank is optimistic that the usual banking services will resume shortly, and that depositors could even expect to start full withdrawals as early as end of this week. Currently, the government has imposed a moratorium and YES Bank depositors cannot withdraw more than Rs 50,000 till April 3. READ MORE

Mar 9, 2020 1:18 PM

Mar 9, 2020 1:05 PM

Yes Bank stock jumps 41% on SBI’s announcement of Rs 2,450 crore infusion##Yes Bank stock jumps 41% on SBI’s announcement of Rs 2,450 crore infusion

Shares of cash-starved Yes Bank rose 41 percent on Monday after the State Bank of India (SBI) said it would infuse funds into the private sector lender. The bank's shares regained nearly 50 percent of the losses seen on March 6. On the National Stock Exchange (NSE), Yes Bank shares opened higher at Rs 17 apiece and climbed to Rs 22.80 apiece, marking an intraday increase of 41.17 percent. The shares of the bank rose up to 40.74 percent on the Bombay Stock Exchange (BSE) to an intraday high of Rs 22.80 apiece. READ MORE

Mar 9, 2020 12:52 PM

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