Indices see biggest single-day drop in 5 years; 5-day sell-off wipes off Rs 12-trn investor wealth
From Bezos entering food delivery biz to SoftBank exec running smear campaigns, here are the top stories for the day
On a weekly basis, Sensex slipped around 7 per cent while Nifty declined 7.2 per cent
Business Standard evaluates various scenarios around spread of Covid-19 and its impact on the market
Traders said investor sentiments also remained fragile amid incessant foreign fund outflows
Investors will also await the GDP numbers for the third quarter of FY20 to be released later in the day. Most experts peg the number closer to 5 per cent
Market players said if not for the buying by domestic investors, there could have a steeper decline. They bought shares worth over Rs 3,000 crore in each of the last two trading sessions.
Adding to the cautious mood on the Dalal Street will be the expiry of the February series derivative contracts today and the release of the Q3 GDP data tomorrow
Foreign portfolio investors (FPIs) sold shares worth Rs 3,337 crore, while domestic institutional investors (DII) tried to offset some selling by pumping in Rs 2,786 crore into stocks
Currently, the country's largest bourse has eight board members, which includes four PIDs and three shareholders
The central bank had barred Bandhan Bank in September 2018 from expanding its network as the lender had failed to reduce promoter stake to 40 per cent
The SGX Nifty is indicating a gap-down opening for the domestic indices today
Among individual stocks, HDFC Life Insurance Company, Bandhan Bank, and Info Edge will be in focus today as they are set to be added in the Futures & Options segment effective February 28
All Nifty stocks end in the red
All Sensex components ended in the red, with Tata Steel cracking 6.39 per cent, followed by ONGC, Maruti, HDFC, Titan and ICICI Bank
While investors will continue to monitor developments on the coronavirus front, the release of India's December quarter GDP numbers on Friday will be another top trigger for the markets
On the sectoral front, IT stocks bled the most, followed by FMCG and media counters. On the other hand, PSU bank stocks advanced the most
According to the report, Axis Bank is in talks to acquire more than 20 per cent stake in Max Life Insurance through fresh issue of equity
According to analysts, the Nifty is witnessing firm support in sub -12,100 zone
Gains in index heavyweights such as Reliance Industries and HDFC helped domestic indices post their biggest jump in two weeks