Sensex, Nifty Post Biggest One-Day Fall Ever

Indian equity markets failed to show any recovery after trading resumed post the first circuit limit. Both S&P BSE Sensex and the NSE Nifty 50 ended with their worst ever one-day decline.

The 30-scrip Sensex fell 13.15 percent to 25,981. These are now the lowest levels since December 2016. All components of the index ended with declines.

The 50-stock Nifty fell 12.98 percent to end at 7,610. These are now the lowest levels since April 2016. All 50 stocks ended the day with cuts, with four of them falling over 20 percent.

All sectoral indices ended with declines, with 9 out of the 11 indices posting double-digit percentage decline.

Market breadth remained adverse with 1,703 stocks ending the day with losses while only 129 closed with gains.

• Trent: To temporarily close all retail stores till March 31. Food stores operated by company's arms and JV to remain open.
• RBL Bank: Branches to work between 10 a.m. to 2 p.m. till March 31 with minimal staff.
• Axis Bank: Sets aside Rs 100 crore fund.
• Pidilite Industries: Operations in most of the company's locations are disrupted
• Balkrishna Industries: Shuts down manufacturing unit in Bhiwadi and Chopanki till March 31 and Bhuj unit till March 25.
• Polycab: Shuts manufacturing plant at Halol and Roorkee till further notice.
• Subros: Manufacturing operations in Uttar Pradesh, Haryana, Maharashtra, New Delhi temporarily shut till further notice.
• Endurance Technologies: To suspend operations at manufacturing units in Maharashtra and Uttarakhand till March 31.
• Sheela Foam: Operations at all locations shut till March 25.

• Nifty50 - 29
• Sensex - 15 out of 30
• Nifty Bank - 9 out of 13
• Nifty Midcap - 53
• Nifty Smallcap - 61
• Nifty 500 - 274
• Nifty Auto - 11 out of 15
• Nifty FMCG - 5 out of 15
• Nifty Metal - 12 out of 15
• Nifty I.T. - 4 out of 9
• Nifty Pharma - 3 out of 10
• Nifty PSU Bank - 11 out of 13
• Nifty Media - 8 out of 14
• Nifty Realty - 6 out of 10

• Sell Nifty Futures at 7,680 - 7,700 for target of 7,510 and stop loss of 7,786
• Sell Canara Bank futures at Rs 78 for target of Rs 73.80 and stop loss of Rs 81
• Buy HUL at Rs 1,920 for target of Rs 2,036 and stop loss of Rs 1,880

Shares of the company fell as much as 28.5 percent to Rs 291.55. This is the biggest one-day fall seen by the stock since June 1998. The stock now trades at the lowest level since December 2014. The fall comes on the back of the stock gaining for two straight days on Thursday and Friday.

Nifty: March 26 Expiry

• 7,500 Put: Premium up 224.82 percent to Rs 316.70. The contract has shed 4.6 lakh shares in open interest.
• 8,500 Call: Premium falls 80 percent to Rs 103.40. The contract has added 3.2 lakh shares in open interest.
• 7,000 Put: Premium rises 200 percent to Rs 168. The contract has shed 2.5 lakh shares in open interest.

Nifty Bank: March 26 Expiry

• 20,000 Call: Premium falls 78 percent to Rs 265.95. The contract has added 2.5 lakh shares in open interest.
• 17,000 Put: Premium rises 347.64 percent to Rs 1,226.75. The contract has shed 2,780 shares in open interest.
• 19,000 Call: Premium falls 79.2 percent to Rs 393. The contract has added 1.9 lakh shares in open interest.

The sell-off in Indian equity markets intensified once again, with benchmark indices posting losses of around 12 percent each.

• Sensex fell 3,573 points to 26,342
• Nifty fell 1,035 points to 7,710
• All Nifty constituents are trading with losses, with private banks leading the fall.

Nifty Bank index slid over 16 percent to 19,926, and is on track to post its worst single-day fall ever.

Get full data on how different sectors have fared here.

• Nifty down 10.8 percent at 7,800
• Sensex down 11 percent to 26,597
• Nifty Bank falls over 14.8 percent to 17,309
• Nifty Metal, Nifty Auto indices are down over 10 percent each
• India Volatility Index jumped 7 percent to 71.8

The Reserve Bank of India is continuing to supply large amounts of liquidity to the markets and the financial system as it tries to prevent a freeze in the credit markets, in the face of the coronavirus impact on the economy and financial system.

On Monday, the central bank said that it would offer Rs 1 lakh crore to banks via repo operations. Through the window, banks can borrow overnight funds at the repo rate of 5.15 percent against collateral in the form of government securities.

Of the total amount, Rs 50,000 crore will be offered on Monday and another Rs 50,000 crore on Tuesday. So far, the RBI has not eased rules for collateral.

Indian benchmark bonds erased losses after the central bank announced the repo auction. 10-year yield fell to 6.26 percent from 6.31 percent earlier.

Read more about how the RBI is addressing market risks here.

• Nifty down 12.1 percent at 7,692
• Sensex down 12.1 percent to 26,303
• HDFC Bank, Reliance Industries contribute over 100 points each to Nifty's downside
• Nifty Bank, Nifty FMCG, Nifty Metal, Nifty Auto, Nifty PSU Bank, Nifty Realty fall over 10 percent each
• Nifty Midcap and smallcap index fall over 11.5 percent each
• Nifty I.T., Nifty Media fall over 8 percent each
• India Volatility Index up 6.1 percent to 71.2

The 12-stock index fell as much as 15.22 percent, its biggest ever one-day fall to 17,224 - the lowest level since June 27, 2016.

All 12 components of the index are trading with losses while six of them - Federal Bank, ICICI Bank, IDFC First Bank, IndusInd Bank, Axis Bank and HDFC Bank trade at a 52-week low.

Retail investors should stay away from the markets is the advice from Chakri Lokapriya of TCG asset management. In an interaction with BloombergQuint, he said that he expects further downside for the Indian markets as institutional funds would be readjusting their portfolios.

Here are some of the other highlights from that interaction:

• Some amount of income erosion will impact demand
• Markets need concrete action from government bodies and policy makers
• Earnings of I.T. and Pharma sector are protected
• Don't expect trading bounces in the coming days.

Shares of the private sector lender are down for the sixth session today. The stock has declined for 12 out of the last 13 sessions. The stock has nearly halved in the last 13 sessions, with prices falling almost 50 percent.

Prices fell as much as 22.92 percent to Rs 330, the lowest level since May 16, 2014.

Indian equity markets resumed trading after a 45 minute halt, triggered by the Sensex hitting a lower circuit. Both S&P BSE Sensex and the NSE Nifty 50 index opened with cuts of over 9 percent, near the levels before trading halted.

The Nifty Bank Index remained the top sectoral laggard with cuts of over 12 percent. Rest of the indices are down anywhere between 5 to 12 percent.

Market breadth remains adverse with 113 stocks advancing while 1,368 stocks are declining.

• Sensex hits lower circuit of 26,924
• Nifty down 9.7 percent at 7,903
• Nifty Bank down 12.74 percent
• Nifty Midcap and Smallcap down 9.3 percent and 10.2 percent respectively
• Nifty FMCG, Nifty I.T. index down over 7 percent
• Nifty Metal and PSU Bank index down 9 percent
• Nifty Realty Index down 11 percent
• India Volatility Index up 5.6 percent at 70.85
• 82 stocks trade with gains while 1,396 stocks are declining.

The 15-stock index fell as much as 10.78 percent, to its lowest level since October 2013. 8 out of the 15 components are trading at a 52-week low.

Most auto and auto ancillary companies have decided to shut their production operations in the wake of the Covid-19 outbreak.

Shares of the pharmaceutical player gained as much as 17.94 percent to Rs 1,622 on the National Stock Exchange.

The U.S. FDA made an exception to the company's import alert due to the Covid-19 outbreak and the resultant shortage of certain drugs and finished products. Exceptions were made for its API unit in Ratlam and for its HCQ tablets made in Indore, Pithampur and Silvassa.

This was the second straight day of gains for the company. The stock ended with gains of 8.45 percent on Friday.

The Nifty Bank index was the top sectoral loser in opening trade, falling as much as 9.91 percent to 18,304. This was the lowest level since January 2017. All the constituents of the index were trading with losses, while Axis Bank, ICICI Bank, Federal Bank and HDFC Bank traded at a 52-week low.

Selling resumed in India's equity markets with the benchmark indices opening near lower circuit levels.

The S&P BSE Sensex index fell as much as 9.09 percent on opening to 27,197 while the NSE Nifty 50 index too fell as much as 9.19 percent to 7,941.

All constituents of the Nifty and Sensex opened with losses, as did all the sectoral indices.

Market breadth remains adverse with 156 stocks trading with gains while 1,387 stocks opening with losses.

The Indian currency opened at a record low of 75.69 against the U.S. dollar. This was against the previous low of 75.31 that it made in Thursday's trading session.

• Dalmia Bharat: To buyback shares worth Rs 500 crore at Rs 700 per share, a 36 percent premium to Friday's closing price.
• Emami: To buyback shares worth Rs 192 crore at a price of Rs 300 per share, a 63 percent premium to Friday's closing price.
• Ramkrishna Forgings: To buyback shares worth Rs 40 crore at a price of Rs 250 per share, a 48 percent premium to Friday's closing price.

• Pokarna
• Sandhar Technologies
• Shree Cement
• Birla Corporation
• Sundaram Clayton
• Titan
• Future Retail
• Graphite India
• Maruti Suzuki
• Hero Motocorp
• Mahindra & Mahindra
• Escorts
• SML Isuzu
• Lumax Industries
• TVS Motor
• Eicher Motors
• JTEKT India
• GNA Axles
• Minda Industries

• Escorts: To issue 1.22 crore equity shares to Kubota Corporation for a 10 percent stake at an issue price of Rs 850 per share.
• Ashok Leyland: To now acquire 6.99 percent stake in Hinduja Leyland Finance instead of the earlier 19 percent after feedback from minority shareholders.
• Eicher Motors: Royal Enfield successfully clears all existing BS-IV inventory. To sell only BS-VI compliant motorcycles starting March 21.
• InfoEdge: Acquired 37.9 percent stake in alumni management platform Univariety for Rs 8 crore and a 16.9 percent stake in pharmaceutical platform Medcords for Rs 7 crore.
• Welspun Corp: A 159 KMT order slated for FY20-21 from its U.S. facility has been deferred for nine months.
• SBI: To open ad-hoc credit facilities for MSME borrowers impacted by Covid-19.

Find out all that you need to know going into today’s trading session HERE!

• U.S. Benchmarks saw their worst weekly performance since the global financial crisis of 2008.
• The S&P 500 fell 15 percent during the week to end at a three-year low.
• Stock trading volumes in the U.S. surged to above 60 percent of the daily average
• Yield on the 10-year treasury fell back below 1 percent.
• Oil extended its decline to post its worst weekly loss since 1991.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 11.5 percent to 7,730 as of 8:00 a.m.

Equities across Asia tumbled in Monday's trade after futures in the U.S. hit a lower circuit. Australian markets fell as much as 8 percent while those in Hong Kong and South Korea fell 5 percent each. The dollar resumed its upward trajectory against major peers.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.