Sensex Ends 4.6% Lower, FII Outflows, Stocks to Watch Out, and Top Cues in Focus Today

Tue, 31 Mar Pre-Open

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Indian share markets witnessed selling pressure throughout the trading session yesterday and ended deep in the red with Sensex and Nifty witnessing a sharp fall during closing hours.

Benchmark indices dipped lower as the number of coronavirus cases in the country crossed 1,100-mark.

Barring FMCG sector and healthcare sector, all sectoral indices ended on a negative note, with stocks in the realty sector, finance sector and banking sector, leading the losses.

At the closing bell yesterday, the BSE Sensex stood lower by 1,375 points (down 4.6%) and the NSE Nifty closed down by 379 points (down 4.4%).

The BSE Mid Cap index and the BSE Small Cap index ended down by 2.1% and 1.8%, respectively.

With stock markets falling sharply worldwide, what is the best way to protect your investments?

Our special report, How to Trade the Coronavirus Crash, has the answer. Just claim your FREE copy here...

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

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

Top Stocks in Focus Today

From the pharma sector, Sun Pharma share price will be in focus today as the company said that its Halol plant in Gujarat has been classified as 'Official Action Indicated' (OAI) by the United States Food and Drugs Administration (USFDA) after a December 2019 inspection. OAI means that pending product approval from the facility could be withheld by the regulator.

Sun Pharma has said that it continues to cooperate with the USFDA and will undertake all necessary steps to resolve these issues and to ensure that the regulator is completely satisfied with its remedial action.

Abbott India share price will also be in focus amid reports that Abbott Laboratories, USA, the ultimate holding company, has received the approval to launch 5-minute coronavirus test for use almost anywhere.

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.

Foreign Investors Fly Back from Indian Capital Markets

As the coronavirus pandemic is triggering fears of a global recession, foreign investors have started rowing back from the Indian capital markets by withdrawing a massive over Rs 1 trillion in March after remaining net buyers for six consecutive months.

In order to contain the spread of coronavirus, lockdowns have become a norm world over and have led the FPIs to adopt a cautious stance.

The depositories data showed that a net amount of Rs 593.8 billion was pulled out from equities and Rs 528.1 billion was withdrawn from the debt segment by foreign portfolio investors (FPIs) between March 2 to March 27.

Speaking of FIIs, how has the FII trend been so far this year? What has changed in recent weeks and months? And what's behind the heavy movement of foreign funds in India?

In the article titled How Coronavirus Hit FII Flows - 6 Points, we dive deeper and answer these questions.

Also, note that he cautious stance among market participants come as stock markets world over have seen a sharp fall.

The Sensex saw its biggest one-day fall on Monday 23 March.

Is this the Future of Stock Trading?

The coronavirus pandemic has created a sense of fear among investors and traders worldwide.

What is different about this market crash unlike others before it, is the pace of fall.

The Indian share market has fallen more than 35% from its peak in just over a month, which is the fastest crash in history.

The sharp decline can be attributed to algorithmic trading as well as foreign institutional investor (FII) outflows.

Co-head of Research, Tanushree Banerjee believes, in this new era of sharp declines, the rebound rally can be equally sharp and quick as well. It is important to remember this.

The best thing is to look at fundamentally strong stocks in this market correction. She believes, these stocks will likely rebound the fastest when the coronavirus threat passes.

Crude Oil Prices Fall Sharply

Crude oil prices dropped sharply yesterday, with Brent hitting its lowest since November 2002, as the global coronavirus pandemic worsened and the Saudi Arabia-Russia price war showed no signs of easing.

US West Texas Intermediate (WTI) crude futures hit a low of US$ 19.92 in early trade yesterday, while Brent futures fell 5.6% to US$ 23.53 a barrel.

The record low US crude oil price in the last 18 years comes in the backdrop of the Donald Trump administration extending the social distancing guidelines.

Reports state that, this may put many shale oil producers out of business in the buildup to the US presidential elections in November.

An official from Saudi Arabia's energy ministry said on Friday the kingdom was not in talks with Russia to balance oil markets despite rising pressure from Washington to stop the rout that has cut prices by more than 60% this year.

As per reports, massive production cuts will be needed beyond just the Organization of Petroleum Exporting Countries (OPEC), with demand now forecast to plunge 15 or 20 million barrels per day.

Note that, crude oil prices had crashed earlier this month in what was the worst price dip since the 1991 Gulf War with Brent prices plunging to US$ 31 per barrel.

In a recent article, we have written the entire timeline showing economics of falling crude oil prices. You can check the same here: All About the 30% Crash in Crude Oil - 10 Points.

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!

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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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