Trade Nivesh | Among the sectors, metals plunged over 5 percent followed by the auto index which fell over 3 percent. Tata Steel, Tata Motors, Maruti Suzuki, Vedanta and Hindalco Industries ended the session down between 4-6 percent.
Ajit Mishra, VP - Research at Religare Broking: The Indian markets plunged following jittery global cues amongst fear of deepening adverse economic impact of Coronavirus. The Nifty index fell 251 points and ended sharply lower by 2.1 percent at 11,829 levels. The broader markets- BSE-Midcap and BSE-Smallcap too fell almost in-line with the benchmark losing around 1.6 percent each. We expect the markets to be choppy in the near term as global sentiments continue to remain muted. In addition, F&O expiry could also induce some volatility during the week. On an optimistic note, any positive outcome from the US President’s India visit in terms of strategic partnership/trade deal could possibly cheer the Indian markets.
Market at close: Sensex ended the session down 806.89 points or 1.96 percent at 40363.23, and the Nifty tanked 251.50 points or 2.08 percent at 11829.40. Among the sectors, metals plunged over 5 percent followed by the auto index which fell over 3 percent. Tata Steel, Tata Motors, Maruti Suzuki, Vedanta and Hindalco Industries ended the session down between 4-6 percent.
Buzzing Stock: Shares of Unichem Laboratories rallied 11.7 percent intraday on February 24 after its Roha unit did not get any observation from the US health regulator. The United States Food and Drug Administration (USFDA) conducted inspection at the company’s active pharmaceutical ingredients (APls) manufacturing unit at Roha in Maharashtra during February 17 and 21, 2020.
Ajit Mishra, VP - Research at Religare Broking: The Indian markets plunged following jittery global cues amongst fear of deepening adverse economic impact of Coronavirus. The Nifty index fell 251 points and ended sharply lower by 2.1 percent at 11,829 levels. The broader markets- BSE-Midcap and BSE-Smallcap too fell almost in-line with the benchmark losing around 1.6 percent each. We expect the markets to be choppy in the near term as global sentiments continue to remain muted. In addition, F&O expiry could also induce some volatility during the week. On an optimistic note, any positive outcome from the US President’s India visit in terms of strategic partnership/trade deal could possibly cheer the Indian markets.
Market at close: Sensex ended the session down 806.89 points or 1.96 percent at 40363.23, and the Nifty tanked 251.50 points or 2.08 percent at 11829.40. Among the sectors, metals plunged over 5 percent followed by the auto index which fell over 3 percent. Tata Steel, Tata Motors, Maruti Suzuki, Vedanta and Hindalco Industries ended the session down between 4-6 percent.
Buzzing Stock: Shares of Unichem Laboratories rallied 11.7 percent intraday on February 24 after its Roha unit did not get any observation from the US health regulator. The United States Food and Drug Administration (USFDA) conducted inspection at the company’s active pharmaceutical ingredients (APls) manufacturing unit at Roha in Maharashtra during February 17 and 21, 2020.
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