Market LIVE: Sensex Sheds Over 350 Points, Drops Below 40,000 For First Time In 3 Weeks

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Market LIVE: Sensex Sheds Over 350 Points, Drops Below 40,000 For First Time In 3 Weeks

Sensex Today: Reliance Industries, HDFC and ICICI Bank were the top drags on the index


Domestic stock markets extended recent losses to a fourth straight day on Wednesday with benchmark indices hitting three-week lows. The S&P BSE Sensex index fell as much as 393.03 points to hit 39,888.17 on the downside in the first few minutes of trade, and the broader NSE Nifty benchmark slipped to as low as 11,679.55, down 118.35 points from the previous close. Both indices hit their lowest intraday levels recorded since February 3. Weakness across sectors – led by banking, automobile, information technology and metal stocks – dragged the markets lower.

Here are 10 things to know about the markets (BSE Sensex, NSE Nifty) today:

  1. At 9:44 am, the S&P BSE Sensex traded 286.13 points – or 0.71 per cent – lower at 39,995.07, while the NSE Nifty was down 85.55 points – or 0.73 per cent – at 11,712.35. 

  2. Forty two stocks in the 50-scrip benchmark index traded lower. Top percentage losers at the time were Tata Motors, Cipla, Hindalco, Wipro and Tata Steel, trading between 1.77 per cent and 2.23 per cent lower. (Track S&P BSE Sensex And NSE Nifty Here)

  3. On the other hand, HUL, Asian Paints, Power Grid, Dr Reddy’s and Nestle – up between 0.45 per cent and 0.71 per cent – were the biggest Nifty gainers.

  4. Reliance Industries, HDFC and ICICI Bank were the top drags on the Sensex, together accounting for a fall of nearly 120 points in the index.

  5. Analysts awaited official macroeconomic data due by the end of the week for any signs of revival in economic growth. The government will release data on GDP or gross domestic product in the October-December period on Friday evening. (Here’s What To Expect From Official GDP Data)

  6. Equities in other Asian markets fell on Wednesday as the United States’ warning to its citizens to prepare for the possibility of a coronavirus pandemic drove another Wall Street tumble. The S&P 500 and the Dow Jones Industrial Average indices both shed more than 3 per cent overnight in their fourth straight session of losses.

  7. MSCI’s broadest index of Asia-Pacific shares outside Japan declined 1.28 per cent whereas Japan was among the worst-performing markets in the region, with its benchmark Nikkei index sliding 1.1 per cent.

  8. While the stock rout has been global, the recent pace of selling in Asia has not been as severe as it has on Wall Street, which has been hit hard by the escalation of virus cases outside of Asia.

  9. The World Health Organization says the epidemic has peaked in China, but concern that its spread is accelerating in other countries is likely to keep investors on edge.

  10. On Tuesday, the S&P BSE Sensex index had declined 82.03 points – or 0.20 per cent – to end at 40,281.20, and the broader NSE Nifty benchmark settled at 11,797.90, down 31.50 points – or 0.27 per cent – from its previous close. As of Tuesday’s close, the indices lost 1,041.8 points (2.52 per cent) and 328 points (2.70 per cent) respectively in three days.

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