There was mayhem on Dalal Street on Friday as over 2,000 stocks bled, leaving very few winners. Auto stocks got battered as coronavirus hit their supply chains. Tata Motors fell nearly 11 per cent. Metal stocks were among the biggest losers. Vedanta took a big knock, tanking over 13 per cent. Jindal Steel and Welspun Corp fell about 9 per cent each. Nifty Metal index ended 7 per cent lower. BSE flagship Sensex recorded the second worst fall in its history, plunging 1,448 points, while its NSE counterpart Nifty sank 431 points to close at 11,201. The biggest fall happen on August 24, 2015, when the 30-pack had crashed 1,624 because of meltdown in Chinese market and a major spike in oil price. Some analysts said Friday fall was the beginning of a prolonged downslide, while others saw it as a buying opportunity. “The market is yet to quantify the exact economic impact of ongoing virus concerns, but further acceleration could pose risk in short to medium term," said Vinod Nair, … [Read more...] about Market Movers: Vedanta tanks 13%, TaMo 11%; 2,000 BSE stocks bleed
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Corporate Buzz podcast | Coronavirus hits airlines hard; new CEO at IndusInd Bank; Apple to set shop in India and more Hot Stocks | 'Can buy Tata Motors, JSW Steel, Hindalco for short term' In the News podcast | Death toll in Delhi violence rises to 37; Indians return from coronavirus-hit cruise ship; Apple to launch retail store in India and more … [Read more...] about The Market Podcast | Coronavirus carnage on D-Street; is it time to buy yet?
The first detailed joint assessment by the World Health Organization (WHO) and Chinese authorities warned that the rest of the world may not be able to stem the spread of the virus in a way China had. “Much of the global community is not yet ready, in mindset and materially, to implement the measures that have been employed to contain Covid-19 in China,” said the report. … [Read more...] about Sensex tanks 1,448 points amid global market rout
On Wednesday night, President Donald Trump said Vice President Mike Pence will be leading the federal government’s response to the coronavirus outbreak. They plan to ask Congress for additional funding to prevent the disease from spreading. … [Read more...] about U.S. Stock Market Suffers Brutally as Dow Drops to Historic Low Amid Coronavirus Fears
It shows that the market correction over the past six trading sessions, of 12.03%, is the fastest fall of 10% or more in the S&P500, America's most important stock market index, ever seen. It puts other notorious falls in the market, such as the Asian crisis of October 1997, Black Monday in October 1987 and the bursting of the dot-com bubble, in April 2000, in the shade. … [Read more...] about Coronavirus: How does the global market chaos compare with the 2008 crash?
China is expected to release trade data for January and February, which could provide a glimpse into the impact of the coronavirus outbreak. The Organization of the Petroleum Exporting Countries, which is weighing further curbs on output, is scheduled to meet on March 5-6. … [Read more...] about Options trades pointing to ’50 Cent’ accumulate ahead of Super Tuesday