Sensex Crashes 1,941 Points; Nifty Ends Below 10,500 Mark

Mon, 9 Mar Closing

   Previous Close   

   Pre-Open   

   09:30 am   

   12:30 pm   

   02:30 pm   

Editor's note: Dear reader, we are now on Telegram! Get our latest views on stock markets and more, instantly. Join our Telegram channel here!

---

It was mayhem on Dalal Street today. India share markets traded deep in the red as Sensex and Nifty posted their biggest one-day fall ever in absolute terms.

Losses were see tracking a sell-off in global markets as a new wave of fear about the spread of the coronavirus and its economic impact gripped investors. The sharp fall in crude oil prices also intensified selling.

At the closing bell, the BSE Sensex stood lower by 1,941 points (down 5.2%) and the NSE Nifty stood down by 538 points (down 4.9%).

The BSE Mid Cap index ended the day down 4.7%, while the BSE Small Cap index stood down by 4.2%.

All sectoral indices ended deep in the red with stocks in the metal sector, IT sector and energy sector witnessing maximum selling pressure.

The rupee was trading at 74.04 against the US$.

Asian stock markets finished on a negative note. As of the most recent closing prices, the Hang Seng was down by 4.23% and the Shanghai Composite was down by 3.01%. The Nikkei 225 was down 5.07%.

European markets were also trading on a negative note. The FTSE 100 was down by 6.25%. The DAX was trading down by 6.13%, while the CAC 40 stood down 6.32%.

Note that, Indian stock markets had collapsed on Friday too...and while there was some recovery towards the end, we still ended deep in the red. We wrote about what led to this crash in 10 points in this latest article titled: Today's Stock Market Crash: 10 Points.

In one of the recent podcasts, we had shared a special episode from investor hour...

In this emergency episode of the Investor Hour, Rahul Goel talks to Vijay Bhambwani, who he calls India's #1 trader.

Vijay dives deep in this "coronavirus" situation and presents a picture which we believe would be extremely beneficial to any investor or trader.

They talk stocks, commodities, bullion and currency.

For each of these assets, they talk what's around the corner, and how one should position oneself for potential gains.

Whatever you do, don't miss this emergency issue of the Investor Hour!

Listen in here...

Towards the end, Vijay shares a very unique perspective on how to allocate assets. Don't miss that!

Also, here's what Tanushree Banerjee wrote about the coronavirus and stock market situation in a recent edition of The 5 Minute WrapUp...

• While manufacturers dependent on China are expected to take a hit globally, the short-term impact is also likely to be felt on sectors like travel and tourism.
  
  In the long-run though, India could emerge as a long-term alternative to the world's supply needs.
  
  A potential megatrend that I will be keenly keeping an eye...

Tanushree is counting on 7 top stocks from the Indian stock market that will benefit from this megatrend.

As per her, now is the right time to buy these stocks to profit from the Rebirth of India. You can read about them here.

In here latest video, she has recommended steps to buy multibaggers stocks of the next decade amid the current stock markets correction.

Tune in to find out more...

In news from the banking sector, as per a leading financial daily, the unexpected writedown of some bonds issued by crisis-hit Indian lender YES Bank Ltd as part of a state-led rescue is set to raise borrowing costs and make capital-raising tougher for other banks.

Note that the Reserve Bank of India's (RBI) decision to put YES Bank under moratorium led to the biggest ever fall in shares of the private lender on Friday. Two hours into the trading hours, the stock extended its slide to 85%, as it hit a low of Rs 5.55. This was the biggest slide for the stock ever.

RBI said it has superseded the board of YES Bank for a period of 30 days, owing to serious deterioration in the financial position of India's fifth largest private bank.

The RBI expects to arrive at a credible restructuring plan in the next few days.

The RBI action follows the lender's inability to raise funds that would have helped it provide against loan losses. Prashant Kumar, former deputy managing director at State Bank of India (SBI), will be the administrator of Yes Bank.

Depositors will be restricted to a maximum withdrawal of Rs 50,000 even if they have multiple accounts, a government gazette notification said.

RBI will relax the withdrawal limit in the event of medical emergencies, higher education fees or marriage expenses - up to a cap of Rs 5 lakh. Drafts and pay orders issued so far will be paid in full, the reports noted.

Risk-averse market participants also fled the equity markets as cascading effect of the above decision was seen everywhere. Banking indices also witnessed huge selling pressure.

Tanushree Banerjee has offered some facts and insights on Yes Bank in a recent edition of The 5 Minute WrapUp. You can check the same here: Should You Buy Yes Bank or Short SBI?

In an article released today, we take you through the events that led to the crisis at YES Bank in 10 points. You can read the same here: How the YES Bank Collapse Unfolded - 10 Points

Moving on to news from commodity markets, crude oil prices tanked over 30% today after Saudi Arabia slashed prices and set plans for a big increase in crude production in April.

WTI crude oil traded 30.96%, down at US$ 28.50 per barrel in the international market.

Brent crude oil was down 28.61% at US$ 32.32 per barrel.

The fall in global crude oil prices came after the Saudi move to start a price war after Russia balked at making further steep output cuts proposed by OPEC. The output cuts were proposed to stabilise oil markets hit by worries over the global spread of the coronavirus.

Saudi Arabia plans to boost its crude output above 10 million barrels per day (bpd) in April after the current deal to curb production expires at the end of March.

The world's biggest oil exporter is attempting to punish Russia, the world's second-largest producer, for not supporting the production cuts proposed last week by the Organisation of the Petroleum Exporting Countries (OPEC).

How this pans out remains to be seen. Meanwhile, we will keep you updated on all the developments from this space.

Owing to the above fall in crude oil prices, shares of Saudi Aramco fell below their initial public offering (IPO) price for the first time since they began trading in December.

Speaking of IPOs, in one of the editions of The 5 Minute WrapUp, Ankit Shah shared how IPOs offer insights into the mood of the stock markets.

He picked the six most successful IPOs of the year and checked the retail investor enthusiasm for them.

Obviously, all these IPOs were oversubscribed across investor categories. But the level of retail investor enthusiasm differed widely, depending on the overall market sentiments.

This can be seen in the chart below:

Are Retail Investors Back in the IPO Game?

Here's what Ankit wrote about it...

• Clearly, IRCTC witnessed the highest number of bids for the retail category. Factoring in the discount of Rs 10 per share for the retail category, the total bids were worth a whopping Rs 3,242 crore. Over five times the entire IPO size!
  
  Polycab India and the recent IPO of CSB Bank also received a strong thumbs-up from retail investors.

Does this hint that retail investors are coming back to the markets? Could we witness of flurry of IPOs in the coming months?

It would be interesting to see how this trend pans out in 2020.

We will keep you updated on all the developments from this space. Stay tuned!

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers