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Monday
May 2020
8:22 PM IST
News Headlines
Need to find a way to outlast Pujara in summer series: Cummins        La Liga can resume week of June 8 - Spanish Prime Minister        Extend loan automatically to all eligible borrowers without fear of 3Cs: FM to banks        Will try to restart international flights before August: Puri        Iran warns US not to interfere with Venezuela oil shipment        Sri Lanka to ease coronavirus restrictions from May 26        Coronavirus cases cross 10,000-mark in Ahmedabad, 24 deaths        Amphan toll rises to 85 in Bengal; protests over electricity, water supply        Prisoners aged above 60 to be released on emergency parole to decongest jail in Delhi        Record jump in COVID-19 cases, 137 more deaths        Bryant items fetch premium prices, Trout card sets record        Baseball players respond to MLB on virus protocols        RBI extends moratorium on loans for another 3 months till Aug        Sensex, Nifty turn choppy; RIL jumps on KKR deal        Quarantine must for domestic air travellers: Kerala govt        At least 57 killed in Pakistan passenger plane crash in Karachi        China introduces new security bill in parliament to tighten controls over Hong Kong        Trump lashes out at scientists whose findings contradict him        COVID-19 death toll climbs to 3,583 in India        Pak troops shell LoC areas in twin sectors of Poonch, Rajouri        
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Business News
In worst ever market crash, Sensex tumbles about 4,000 pts as India goes into lockdown
 
Mumbai: The Indian stock market suffered worst-ever single-day crash on Monday, with the benchmark indices plunging as much as 13.15 per cent, as panicked investors remained in sell-off mode amid lockdowns in several states in the country due to mounting coronavirus cases.

The BSE benchmark Sensex plummetted 3,935 points or 13. 15 per cent to close at 25,981.24; while the NSE barometer Nifty cracked 1,135.20 points or 12.98 per cent to settle at 7,610.25.

On the currency front, the Indian rupee plunged below the 76-level (intra-day) for the first time.

In the very first hour of trade on Monday, trading on the BSE and the NSE had to be halted after the benchmark indices Sensex and Nifty hit the 10 per cent lower circuit breaker.

As trading resumed after a 45-minute freeze, losses widened on bourses due to unabated sell-offs across sectors.

Global stocks too roiled after nations across the world announced lockdowns in an effort to mitigate the spread of Covid-19 pandemic, spiking fears of a mammoth global recession.

On the Sensex chart, Axis Bank was the top loser, tanking over 28 per cent, followed by Bajaj Finance, IndusInd Bank, ICICI Bank, Maruti and L&T.

All sectoral indices ended significantly lower, with BSE bankex, finance, capital goods, basic materials, industrials and auto indices plunging up to 16.82 per cent.

Broader midcap and smallcap indices tanked over 12 per cent each.

"With the spread of Covid-19 continuing unabated and the fears of global recession increasing, the Indian markets crashed. The markets closed much lower in percentage terms compared to the Asian and European markets, which indicated increased uncertainty regarding the spread of the virus in India after the government indicated that the country was in a crucial phase in its fight against the virus, Vinod Nair, Head of Research at Geojit Financial Services, said.

Further measures and lockdowns are expected after manufacturing companies indicated that they would shut down their facilities, which would have an overall impact on business activity and market confidence, he added.

The central and state governments on Sunday announced lockdown in about 80 districts in the country where at least one confirmed case of COVID-19 was reported.

The districts where lockdown was announced include 10 districts each in Maharashtra and Kerala, six districts each in Uttar Pradesh and Gujarat, five each in Karnataka and Haryana, three each in Tamil Nadu and Punjab.

Meanwhile, S&P Global Ratings on Monday cut its estimate for India's GDP growth for the next fiscal to 5.2 per cent from its earlier estimate of 6.5 per cent, which further worsened the market sentiment that has been already reeling under the coronavirus spread.

In the global market, bourses in China, Hong Kong and South Korea plunged up to 5 per cent, while those in Japan ended on a positive note. Bourses in Europe sank up to 4 per cent.

Meanwhile, Brent crude oil futures dropped 5.30 per cent to USD 25.55 per barrel.

The number of global Covid-19 infections has shot past 3,00,000. Worldwide fatalities topped 14,000.

Cases in India spiked to 415, according to Health Ministry log.


Extend loan automatically to all eligible borrowers without fear of 3Cs: FM to banks
Will try to restart international flights before August: Puri
RBI extends moratorium on loans for another 3 months till Aug
Sensex, Nifty turn choppy; RIL jumps on KKR deal
Rupee rises 13 paise to 75.67 against US dollar in early trade
Bajaj Auto shares jump 6.50 pc after Q4 earnings
Rupee rises 6 paise to 75.60 against US dollar in early trade
Decide corruption cases in time involving retiring bank, govt officials: CVC
Consumers footfall increase, average basket value goes up at retail stores in lockdown 3.0
Decentralisation of cities, devt of far-flung areas can help address migrant workers' woes: Gadkari
Find out novel ways for revival of economy, not the failed ideas: BMS
Reliance Industries' Rs 53,000-crore rights issue to kick off on May 20
Rupee falls 13 paise to 75.59 against US dollar in early trade
Investor wealth plunges Rs 1.99 lakh cr as mkts plummet
Kotak Mahindra Bank Q4 profit down 4 pc to Rs 1,952 cr
Jet Airways insolvency resolution professional seeks fresh EoI for defunct airline
Rupee falls 22 paise to 75.95 against US dollar in early trade
Maruti resumes operations at Manesar plant on single shift basis
Warehousing demand in 8 major cities drops 29% in Jan-Mar, new supply down 14%: Report
Reliance fixes May 14 as record date for rights issue
KERALA NEWS
Quarantine must for domestic air travellers: Kerala govt
 Thiruvananthapuram: Domestic flyers arriving in Kerala must undergo strict home quarantine as per th  
12 fresh COVID-19 cases in Kerala, total rises to 642
Central financial package lacks public healthcare initiatives: Kerala CM
29 fresh cases in Kerala; Over 67,000 under observation
INTERNATIONAL NEWS
Iran warns US not to interfere with Venezuela oil shipment
 Tehran: Iran's president on Saturday warned the United States not to interfere with a shipment of oi
Sri Lanka to ease coronavirus restrictions from May 26
At least 57 killed in Pakistan passenger plane crash in Karachi
China introduces new security bill in parliament to tighten controls over Hong Kong
NATIONAL NEWS
Coronavirus cases cross 10,000-mark in Ahmedabad, 24 deaths
 Ahmedabad: Coronavirus cases in Ahmedabad crossed the 10,000-mark and rose to 10,001 after 277 new p
Amphan toll rises to 85 in Bengal; protests over electricity, water supply
Prisoners aged above 60 to be released on emergency parole to decongest jail in Delhi
COVID-19 death toll climbs to 3,583 in India
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