StockMarket

Top 10 firms lose Rs 4.22 lakh crore in m-cap; TCS, RIL hit hard
New Delhi: The 10 most valued domestic companies lost a massive Rs 4,22,393.44 crore in market capitalisation last week, with heavyweights TCS and RIL taking the biggest hit.

In a nerve-wracking week for the markets, the BSE Sensex plummeted 3,473.14 points or 9.24 per cent, largely in tandem with global equities which were hammered by panic

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Global central banks stepped up their crisis-fighting this week in a campaign to keep markets functioning and economies growing as the coronavirus looks increasingly likely to tip the world into its first recession since the financial crisis.

Among the tools deployed: Interest-rate cuts, asset purchases, currency interventions and liquidity

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RBI may cut rates by 25 bps before next meet: BofA
Mumbai: The Reserve Bank may go for a rate cut before the next scheduled policy review on April 3, and is likely to slash rates by 0.75 percentage point in 2020 as inflation ebbs, a foreign brokerage said on Friday.

Central banks have been cutting rates and injecting liquidity to counter economic slowdown because of the coronavirus pandemic.

"We

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The Week That Was in 10 Stocks: PVR, SpiceJet plunge on coronavirus fears; YES Bank rallies
Domestic equity market witnessed a bloodbath last week with the benchmark indices falling over 9 per cent, as coronavirus fears deepened. The 30-share Sensex lost 3,473 points to 34,103, while the 50-share Nifty index declined 1,034 points to 9,955.

Overall, investors lost more than Rs 15 lakh crore, as the market capitalisation of BSE-listed firm

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As Wall Street reels, veterans recall '87 while the young look to textbooks
As US financial markets reel from a week of historic swings, industry veterans are drawing on memories from their earliest years on Wall Street, while younger professionals are looking to lessons from history books.

Following an 11-year bull market, many investors have never experienced a market selloff as violent as the near 27 per cent slump in

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Investor wealth zooms Rs 3.55 lakh cr as Sensex recovers over 5,380 pts
NEW DELHI: Collective investor wealth in BSE-listed companies grew over Rs 3.55 lakh crore on Friday as benchmarks recovered after crashing over 10 per cent during the day.

Recovering over 5,380 points from its intra-day low of 29,388.97, the BSE Sensex ended 1,325.34 points or 4.04 per cent higher at 34,103.48.

Trading was halted for 45 minutes

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Saudi Aramco 2019 profit falls 21% on weak oil price
DUBAI: Oil giant Saudi Aramco on Sunday posted a 21% decline in 2019 net profit due to a drop in oil prices and production, and said it plans to "rationalise" capital spending in the wake of the coronavirus outbreak.

This was Aramco's first earnings announcement after it listed in December in a record $29.4 billion initial public offering (IPO)

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After violating a critical near-term support a week before, Indian equity benchmarks suffered their worst-ever weekly decline in a decade. In line with the global mayhem, Indian stocks also saw a sharp meltdown and the indices went on to end well below key moving averages, slipping further from the broad trading pattern, which they had breached a
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US stocks stage furious late rally after national emergency declared
Wall Street staged a furious rally in the waning moments of the session on Friday after U.S. President Donald Trump declared a national emergency to combat the rapidly spreading coronavirus, although major averages still suffered sharp losses for the week.

In a volatile session, all three main indexes jumped more than 6% in early trading before

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FPIs hit panic button, withdraw Rs 38,000 crore in March
New Delhi: Foreign portfolio investors (FPIs) have withdrawn a whopping Rs 37,976 crore on a net basis from the Indian markets in March so far amid the coronavirus pandemic triggering fears of a global recession.

Overseas investors pulled out a net sum of Rs 24,776.36 crore from equities and Rs 13,199.54 crore from the debt segment during Mar

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Eldeco Housing and Industries sells 100% stake in Swarnim Nirman

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Coronavirus forces Warren Buffett to cancel 'Woodstock for Capitalists'
Warren Buffett on Friday said the coronavirus pandemic forced him to cancel Berkshire Hathaway Inc's annual shareholder weekend, the largest gathering in corporate America, because the safety of participants and the wider community was paramount.

The weekend, which Berkshire's billionaire chairman calls "Woodstock for Capitalists" and normally

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View: India can use YES Bank debacle to chase China in crypto
By Andy MukherjeeConfidence in the Indian financial system has been breaking down for some time. Instead of trying to restore trust, it may be time to require less of it — with the help of an official rupee cryptocurrency.

The last straw was the collapse of corporate lender YES Bank Ltd., which failed in slow motion in full view of authorities.

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Tata Sons buys shares in group companies, again

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Govt, RBI closely monitoring markets: Finance Minister
Finance Minister Nirmala Sitharaman on Friday said the government and the Reserve Bank are closely monitoring the stock market, which is facing intense volatility amid mounting coronavirus fears. Together with the RBI, the government is closely monitoring markets, she said on the situation arising out of a panic spread of coronavirus pandemic.

Aft

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Buy YES Bank, but you can&t sell in ‘Hotel California& rescue
By Suvashree GhoshIndia’s unprecedented bailout of YES Bank comes with an unusual rider: investors who hold more than 100 shares cannot sell 75% of their holding for at least three years.

The caveat means anyone who has more than Rs 2,555 ($35) invested in the lender -- an amount based on Friday’s price and one so small that it covers roughly the c

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Monetary easing not appropriate to fight epidemic: Chris Wood
MUMBAI: Monetary easing is not appropriate to fighting en epidemic, said Christopher Wood, global head of equity strategy at Jefferies, in the wake of rate cuts by several central banks, including the US Federal Reserve and the Bank of England.

This also raises the question as to what form such action would take once the US Federal Reserve has got

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Market Movers: HDFC twins, SBI soar; airlines hit air pocket; 24 stocks flash ‘sell& signals
In a move that baffled even seasoned investors on Dalal Street, the benchmark equity indices hit the lower circuit limits to force a trading halt only to rebound sharply and close with smart gains on Friday.

The HDFC twins, ICICI Bank and some of the PSU bank stocks were on the forefront of the rally. SBI and Tata Steel jumped more than 13 per

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YES Bank AT1 bonds worth Rs 8,415 crore written down to zero
NEW DELHI: Private lender YES Bank’s additional tier 1 (AT1) bonds worth Rs 8,415 crore have been written down to zero, the company informed exchanges.

“The perpetual subordinated Basel-III compliant additional tier 1 bonds issued by the bank for Rs 3,000 crore on December 23, 2016 and perpetual subordinated Basel-III compliant additional tier 1 b

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Mumbai: Indian stocks swung from extreme fear to guarded optimism on Friday as the firefighting efforts of governments and central banks introduced a semblance of stability after markets were ravaged by worries about the effect of coronavirus on economic growth. Benchmark indices closed over 4 per cent higher on Friday, rallying strongly from the
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Tech View: Nifty's long bullish candle shows short-term bottom in place
NEW DELHI: In a day of crazy swings, Nifty50 on Friday settled with a solid 4.5 per cent gain after hitting the 10 per cent lower circuit limit earlier in the day. The index formed a ‘super’ Long Bullish candle on the daily chart as it swung in a massive 1,600-point range. Analysts said the index might have formed a near-term bottom.

“Nifty has to

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Coronavirus updates, SBI Card listing among key factors that may guide Dalal Street this week
NEW DELHI: Indian stock market plunged into bear territory last week after the coronavirus outbreak was termed a pandemic and the US suspended travel from Europe, threatening more disruptions to the business and the world economy.

The news around the pathogen is likely to hog the limelight this week, with infected and death counts increasing

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Moratorium on YES Bank to be lifted on March 18; 3-years lock-in put in place for shareholders
Mumbai: The moratorium on YES Bank will be lifted at 6 pm on March 18, the third working day after the YES Bank reconstruction scheme comes into force, the government notified late on Friday.

Yes Bank was placed under a moratorium earlier this month by the Reserve Bank of India (RBI), who imposed a Rs 50,000-limit on withdrawals from the bank till

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F O: Stay light on positions as volatility is at multi-year peak
By Chandan TapariaIt was a historic day for the Indian market, as Nifty hit the lower circuit limit after 12 years and then rallied sharply to top the 10,000 mark. At opening, it was mayhem on Dalal Street, but sentiments revived when the market reopened for trading. The index recovered on the back of strong buying by DIIs, bargain hunting from
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YES Bank Q3 results: Bank reports record loss of Rs 18,564 crore in December quarter
MUMBAI: Private lender YES Bank reported a loss of Rs 18,564 crores at the end of the December quarter against a profit of Rs 1000 crore a year ago. It had reported a loss of Rs 629 crore in the September quarter.

The lender’s bad loans shot up substantially to Rs 40,709 crore during the period under review. Such loans were at Rs 5158 crore a year

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Dow Jones shoots up 2000 points on hopes for government's coronavirus plan
Wall Street roared back from its worst day in 30 years Friday with a broad rally that sent the Dow Jones Industrial Average nearly 2,000 points higher - its biggest point gain ever - after President Donald Trump declared the coronavirus pandemic a national emergency.

Fueled by a late-day surge while Trump was speaking, the Dow saw its largest

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Machines, not bulls, at work! Did algos do the trick in stocks bounce?
NEW DELHI: While a recovery in US index futures was cited as the key reason behind the resounding rebound in the domestic market on Friday, there was also a buzz on Dalal Street which suggested that the recovery in US futures was driven by a set of algos.

“Algo funds have been at work in the big selloff seen in the US index in recent days. As i

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Federal Bank to invest Rs 300 crore in Yes Bank
NEW DELHI: FederalBank on Saturday said it has committed to investing Rs300crorein beleaguered YesBank for subscription of its 30 crore shares.

"The Bank has issued an Equity commitment Letter toinvestRs300croreinYESBank Ltd for subscription of 30 crore equity shares of YesBank at a price of Rs 10 per Equity share," a regulatory filing

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Thermax announces 350% dividend for FY20

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By Subhadip Sircar, Nupur Acharya and Ishika Mookerjee

On IIFL Securities Ltd.’s trading floor in Mumbai, 70 dealers spent most of the day on the edge, advising clients to hold off on buying the dip as the sell-off sweeping global equities gathered pace.

By the end of Thursday, Indian stocks had tumbled into a bear market to join equity benchmarks

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