Poultry breeder Venkys India became an unintended victim of coronavirus, as its shares fell about 6 per cent on rumours that chickens and eggs might be the carrier of the virus.Airline shares fell up to 5 per cent, as travel is getting hit due to the fast spreading disease.
YES Bank, meanwhile, tumbled 7 per cent amid reports that the lender has approached mutual funds to raise funds.Rebounding sharply from days low, BSE flagship Sensex finally closed 214 points lower at 38,409 while NSE benchmark Nifty dropped 49 points to 11,254.Rising worries of coronavirus are acting as a trigger for high volatility in equities.
The market is trying to find a bottom after a vertical fall, but there is a need for some relief on the coronavirus front for that to happen, said Santosh Meena, Senior Analyst, TradingBells.Here is a lowdown of the movers and shakers of Wednesdays session on Dalal Street:Strides gets USFDA nodStrides Pharma Science announced its step-down wholly owned subsidiary, Strides Pharma Global Pte.
Ltd, Singapore, has received approval for Tetracycline Hydrochloride Capsules USP, 250 mg and 500 mg from the United States Food - Drug Administration.
However, the stock dipped 0.89 per cent to Rs 462.50.Tata Coffee begins e-comm websiteTata Coffee Limited, a subsidiary company of Tata Consumer Products, announced on Wednesday the launch of its e-commerce platform.
The website debuts with three variants of luxury single origin specialty coffee named 'The Sonnets-The voice of our estates.' Shares of the company fell 1.94 per cent to Rs 346.90.SBI Cards IPO subscribed 13 timesThe initial public offer of SBI Cards and Payment Services was subscribed 13.26 times so far on the third day of bidding on Wednesday.
Shares of promoter SBI fell 2.85 per cent to Rs 281.60.L-T bags significant orderLarsen - Toubro (L-T) said the water and effluent treatment business of L-T Construction has bagged a significant order in the Sultanate of Oman.
Shares of the EPC firm fell 1.26 per cent to Rs 1,166.90.YES Bank tanks 7%Shares of YES Bank dropped 6.88 per cent to Rs 29.10 amid reports that suggested the lender has approached mutual funds to raise some capital.Airline stocks tumbleShares of airline companies tumbled as traders expected coronavirus fears would make people travel less which in turn will hit their top line.
SpiceJet was down 4.64 per cent to Rs 70.90 while InterGlobe Aviation fell 2.60 per cent to Rs 1,197.Venkys unintended victimShares of poultry firm Venkys fell 5.51 per cent to Rs 1,147 amid rumours on social media that chicken may carry coronavirus put pressure on prices.Smallcaps badly hurtSmallcaps were among the biggest losers during Wednesdays trade.
Nifty Smallcap index fell 2.04 per cent to 5,574 dragged by Lemon Tree Hotels, Dish TV and Suzlon Energy.
Nifty Midcap dipped 1.59 per cent to 16,733 and Nifty 500 slipped 0.69 per cent to 9,260.Pharma, IT close in the greenNifty Pharma and Nifty IT were only two sectoral indices that closed the day in green on NSE.
The indices were up 1.98 per cent and 0.87 per cent, respectively.
Among the biggest sectoral losers were Nifty Media, Nifty Banka and Nifty Financial Services.
Most active stocksState Bank of India was the most active security on NSE in terms of value of transactions.
It was followed by HDFC Bank, Reliance Industries, Tata Motors and Indiabulls Housing Finance.
In terms of volume of transactions, Voda Idea topped the charts, followed by YES Bank, Tata Motors, SBI and NCC.44 stocks turn bearishAs many as 44 scrips gave sell signals as they crossed below the signal line.
They include DRA Consultants, Muthoot Finance, Camlin Fine Sciences, Lasa Supergenerics, Kallam Textiles, Nelco, Wanbury, Cochin Shipyard and Atul, among others.