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Share markets in India have extended early gains and are presently trading 3% higher. Benchmark indices turned volatile and fluctuated between gains and losses as investors remained risk-averse amid escalating coronavirus cases, that rose to 195 in the country.

Barring realty stocks and banking stocks, all sectoral indices are trading in green with stocks in the energy sector, FMCG sector and IT sector witnessing most of the buying interest.

The BSE Sensex is trading up by 770 points while the NSE Nifty is trading up by 216 points. The BSE Mid Cap index is trading up by 2.9%, while the BSE Small Cap index is trading up by 2.2%.

The rupee is trading at 74.97 against the US$.

Speaking of the coronavirus impact on Indian stock markets, the chart below shows the trend in the total market capitalisation of all BSE-listed companies since the start of 2020.

Coronavirus Triggers Massive Wipeout of Investor Wealth

As you can see, through most of January and February, the total market capitalisation hovered between Rs 150-160 trillion.

It was only in the last week of February that a massive sell-off started on rising fears of the coronavirus outbreak escalating into a global pandemic.

So, what should you do in such times?

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.

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

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Also, amid the gloomy economy and coronavirus fears, what's next for the Indian stock markets?

You have the answer to this?

Participate in Equitymaster's "State of the Markets" poll and make your opinion count.

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Participate here:  HYPERLINK "https://forms.office.com/Pages/ResponsePage.aspx?id=CKkJvSkXFkalGGmHL_XjgX1kj__kKGRAswLVgV5FandUQklSSldMQUNETUk4MjQ4SU4wT09NTVJOVC4u&utm_source=TM&utm_medium=website&utm_campaign=MCOM&utm_content=market-commentary" \t "_blank" Equitymaster's "State of the Markets" Poll

In news from the FMCG sector, Emami on Thursday said its board has approved a Rs 1,940.8 million share buyback offer at a maximum price of Rs 300 per share.

This represents 1.43% of the total number of equity shares of the company.

The promoters of Emami, including the Agarwal and Goenka families, hold a 52.74% stake in the company. Over 80% of the promoters' stake is pledged.

The board also declared payment of second interim dividend of Rs 2 per equity share for FY19-2020. The record date is set on 27 March 2020.

Emami share price is presently trading up by 6.8%.

Note that many companies are looking to buy their shares back from investors to boost shareholder confidence amid the brutal sell-off in the market.

In the past two weeks, Sun Pharma, Thomas Cook, Supreme Petrochem, Emami and S.P. Apparels have announced or proposed buybacks.

Sun Pharma's board on Tuesday approved the buyback of 40 million shares representing 1.67% of the total equity capital of the company at Rs 425 per share.

Thomas Cook has also received board approval for a buyback of up to 26 million shares at Rs 57.50 apiece for a maximum aggregate amount of Rs 1.5 billion.

In last year's budget, finance minister Nirmala Sitharaman had imposed a share buyback tax of 20% on listed companies.

We will keep you updated on how these buybacks sail through. Stay tuned for more updates from this space.

Moving on to news from the banking sector, shares of IDFC First Bank tanked 10% to hit a new low of Rs 18.60 today, after the bank's Managing Director and Chief Executive Officer (MD & CEO), V Vaidyanathan, sold 27.56 million shares for approximately Rs 580 million to close ESOP loan availed by him.

However, shares have recovered and are presently trading 2% higher.

The private lender informed the exchanges that Vaidyanathan intends to sell another about Rs 350 million worth of stocks today to entirely repay the residual ESOP (employee stock ownership plan) loan taken for exercising his ESOP shares to release his pledged shares.

In other news, HDFC Bank has allotted 14,17,156 equity shares to the employees of the bank pursuant to exercise of options under its Employees Stock Options Schemes (ESOS).

Shares of the private lender tanked nearly 8% in early trade today after brokerage Sanford C. Bernstein downgraded the stock to 'underperform' from 'market perform' and slashed the price target by nearly half to Rs 750 from Rs 1,400 earlier.

HDFC Bank share price is presently trading down by 3.7%.

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

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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

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Indian Share Market Update: Top Gainers and Losers