Sensex Trades 850 Points Lower; Bajaj Finance & HDFC Top Losers

Mon, 30 Mar 12:30 pm

   Previous Close   

   Pre-Open   

   09:30 am   

   Closing   

Share markets in India are presently trading on a negative note. Benchmark indices plunged in the opening trade today, tracking a selloff in global peers as the number of coronavirus cases increased around the globe.

However, losses were erased as the session progressed, after the government said there were no plans to extend the country-wide lockdown.

The Press Information Bureau (PIB) of the Ministry of Information and Broadcasting tweeted, saying Cabinet Secretary Rajiv Gauba has denied media reports claiming that the government will extend the lockdown.

The BSE Sensex is trading down by 873 points (down 2.9%), while the NSE Nifty is trading down by 241 points (down 2.7%).

The BSE Mid Cap index and the BSE Small Cap index are trading down by 2% and 1.3%, respectively.

Sectoral indices are trading on a mixed note with stocks in the realty sector and automobile sector witnessing selling pressure, while FMCG stocks are witnessing buying interest.

Shares of Bajaj Finance and HDFC tumbled 9%, while Tata Steel share price plunged 6%.

The rupee is trading at Rs 75.37 against the US$.

Note that Indian stock markets have fallen around 36% in just over a month. However, Vijay Bhambwani's subscribers have been saved from a lot of pain in this market.

He's had 16 out of 22 profitable trades in these difficult times and his last 11 trades, over the last six months, have been profitable. He has delivered a return on investment of 42.95% for his subscribers at a time like this when everyone is barely managing to stay afloat due to daily losses.

Vijay will be online for his upcoming event today at 5 pm.

The Weekly Cash Summit is where Vijay will share his blueprint for consistently beating the market. Register for free here.

Also, a few days ago, we asked you to participate in Equitymaster's "State of the Markets" poll.

The poll asked you to vote on what holds next for the Indian stock markets amid the gloomy economy and coronavirus fears.

Many of you voted for the same and we thank you for participating. The numbers are in and here are the results.

In news from the pharma sector, shares of Abbott India surged 19% to hit a new high of Rs 16,869 in early trade today, amid reports that Abbott Laboratories, USA, the ultimate holding company, has received the approval to launch 5-minute coronavirus test for use almost anywhere.

Abbott India is a subsidiary of Abbott Laboratories of USA.

As per a leading financial daily, Abbott Laboratories is unveiling a COVID-19 test that can tell if someone is infected in as little as five minutes, and is so small and portable it can be used in almost any health-care setting.

Meanwhile, Strides Pharma Science has received the Establishment Inspection Report (EIR) for the inspection conducted by the USFDA in January 2020 at its flagship facility KRS Gardens, Bangalore.

The inspection was related to specific Extended Release applications made from the site. Receipt of EIR confirms the successful closure of the inspections.

The flagship facility in Bangalore is the largest manufacturing facility for the company with capabilities to produce finished dosage formulation products across multiple dosage formats including tablet, capsules, ointments, creams and liquids.

Abbott India share price and Strides Pharma Science share price are presently trading up by 8% and 2.7%, respectively.

Moving on to news from the commodity space, gold prices are currently trading down by 0.5% at Rs 43,329.

Prices fell sharply today with June futures on Multi Commodity Exchange (MCX) falling 0.6% to Rs 43,302 per 10 gram, extending losses to the second session.

Following suit, silver prices took a beating with May futures crashing 3% to Rs 39,758 per kg.

Gold rates in India had surged sharply last week rising about Rs 3,000 per 10 gram following a rally in global rates.

In global markets, gold prices moved higher today, lifted by demand for safe-haven bullion as increasing coronavirus cases across the world stoked fears of more economic damage.

A weak dollar also helped lift gold demand, making bullion cheaper for investors holding other currencies.

According to a Reuters report, as the physical trading of gold came to a standstill due to the 21-day lockdown in India, massive discounts were offered over international prices.

Last week, discounts rose to their highest since mid-September, at US$ 48 an ounce.

Speaking of gold, how lucrative has gold been as a long-term investment in India?

The chart below shows the annual returns on gold over the last 15 years...

Gold Has Been a Shining Long-Term Investment

As you can see, barring just two years - 2013 and 2015, gold has delivered positive returns in 13 of the last 15 years.

Here's what Ankit Shah wrote about this in one of the editions of The 5 Minute WrapUp...

• In fact, gold has delivered double-digit gains in 10 of the last 15 years.
  
  During the entire 15-year period, gold has shot up 555% (compounded annual return of 12.1%).
  
  During the same period, the Sensex surged 511% (compounded annual return of 12.0%). If you include dividends, the Sensex returns would be higher than gold by a couple of percentage points.
  
  One must note that the Sensex returns are not representative of the broader market returns. Moreover, gold was a no-brainer. You didn't have to study financial statements, business models and forecast future earnings growth to get a double-digit return on your investment.

In panic due to the Coronavirus, the demand for physical gold has spiked internationally.

In his latest video, Vijay Bhambwani talks about why hasn't gold moved up in India as much as it has abroad?

You can check the same here: Is the Price of Gold About to Go Higher?

And 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