Heena Sharma Blog

Benchmark indices were trading extremely weak, down over 2 per cent, on Friday in line with a coronavirus -led sell-off in global markets. Global share prices are headed for the worst week since the darkest days of the world financial crisis in 2008 as investors braced for the coronavirus to become a pandemic and rapidly spread around the world. The S&P BSE Sensex was down 1,1111 points, or 2.8 per cent, at 38,630 levels after opening at over five-month low. Tech Mahindra (down 5%), Tata Steel, Tata Finance, and HCL Tech (all down 4%) were the top losers in the Sensex pack. All the constituents of the 30-pack index were in the red. The broader Nifty50 index plunged 325 points, or 2.8 per cent, to 11,308 levels. All the Nifty sectoral indices were painted red. Nifty Metal, Nifty IT, and Nifty Realty indexes were trading with over 3 per cent cut each. In the broader market, the S&P BSE MidCap index slid 426 per cent, and the S&P BSE SmallCap index was down 408 ...

The benchmark indices are trading around 2 per cent lower tracking their Asian peers which sank on Thursday after Wall Street suffered its worst drubbing in eight months. A sinking rupee also added to investors' concerns. The rupee also slipped to a new record low of 74.48 against the US dollar so far in intra-day trade, down 26 paise from its previous close. Among the sectoral indices, the Nifty IT index has slipped over 3 per cent led by losses in the shares of Infosys and Tata Consultancy Services (TCS). The Nifty Metal index too has fallen over 4 per cent weighed by Tata Steel and Vedanta. Stock specific actions are likely to continue as the IT bellwether TCS is slated to announce its September quarter earnings later today. Majority of the analysts expect IT companies to report healthy numbers led by the ramp-up of recent large deal wins, improving the macro environment, and strong seasonality. CATCH ALL THE LIVE UPDATES Business Standard

The benchmark indices are trading over 1 per cent higher due to a firm rupee against the dollar. The rupee is trading on a firm note having risen to 74.05 against the greenback so far in intra-day trade. The Indian currency opened 24 paise firm at 74.14 earlier in the day after ending at a record low of 74.39 per dollar on Tuesday. Among the sectoral indices, Nifty Bank index is trading nearly 2.5 per cent higher led by a rise in YES Bank, Axis Bank and IndusInd Bank. The Nifty Auto index, too, is trading over 2.5 per cent higher led by Maruti Suzuki India. However, the Nifty IT index has slipped over 1.5 per cent weighed by Infosys and Tata Consultancy Services. In the broader markets, the S&P BSE MidCap index is trading around 3.5 per cent higher while the S&P BSE SmallCap has risen 3 per cent. Stock specific action will continue as firms like Bandhan Bank and ZEE are likely to declare their second-quarter earnings later in the day today. Investors will al...