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Extending losses for the fifth straight session, benchmark indices Sensex and Nifty dropped nearly 1% each, tracking global sell-off on Thursday amid coronavirus epidemic fears that weighed on investor sentiments.
Here's a look at ten things to know about the fall in Sensex, Nifty today:
1. Sensex traded 400 points lower at 39,530 and NSE 50-share index Nifty50 fell 142 points lower to 11,536. Overall, 26 of 30 stocks on Sensex and 45 scrips out of 50 on Nifty were trading in the red.
2. Sectorally, all indices were trading in red. Nifty realty fell 2.55%, with media and metal each declining over 2%, followed by near 1.5% decline on IT, auto, PSU bank and financials indices.
3. Top Sensex losers were HCL Tech, HDFC Bank, TCS, M&M, IndusInd Bank, Sun Pharma, ICICI Bank and Reliance Industries. On the other hand, Titan, NTPC, Nestle India and Kotak Bank were trading with gains.
4. Traders said market was likely to be bearish on account of Futures and Options expiry today. Investors will also track GDP numbers and eight core industries January YoY data that will be released tomorrow.
5. Asian markets traded mostly down led by Nikkei as investors remained cautious over the virus pandemic as the number of coronavirus cases outside China increased at a faster pace. In China, 29 new fatalities were reported, the lowest in weeks, taking the death toll to 2,744 while the confirmed cases climbed to 78,497, officials said on Thursday.
European markets closed mixed with a negative bias, while in US, Wall Street tumbled and pushed yields on safe-haven Treasuries to record lows with San Francisco declaring emergency and CDC warning Americans to brace for a possible coronavirus pandemic. As per US Centers for Disease Control and Prevention, US has 60 confirmed coronavirus cases and added that the number is expected to grow.
6. In another virus-related update, 119 Indian nationals who were on board the Diamond Princess Cruise ship have been brought back in a special Air India flight. The flight has also delivered 15 tonne of medical equipment. An IAF MCC C17 also evacuated 76 Indian & 36 foreign nationals from Wuhan.
7. Foreign institutional investors continued to be sellers for the third straight day. FIIs remained net sellers in the capital market as they sold shares worth Rs 3,336.60 crore on Wednesday, according to provisional exchange data. FIIs sold shares worth Rs 2,315.07 crore on Tuesday and Rs 1,160.90 crore on Monday in the capital market.
9. Domestic market extended the fall for the fifth consecutive trading session today. BSE Sensex has lost 1,793 points or 4.34%, while NSE Nifty has dropped 4.6% since the closing of February 19, 2020.
10. Oil prices fell for the fifth consecutive day as more coronavirus cases were reported in Asia, Europe and Middle East raising concerns over crude demand. Decline in gas prices will be beneficial for listed companies from sectors such as oil marketing companies (OMCs), paints, fertilisers, power and airline carriers. Brent Crude, the global oil benchmark, traded at $52.8 per barrel, down 1.10% today.
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