The most active stocks included State Bank of India, Indiabulls Housing Finance, Reliance Industries, Sun Pharma and HDFC Bank.
The Indian
share market traded in the red despite the US Federal Reserve cutting interest
rates by 50 basis points amid the impact of the coronavirus outbreak.
Sensex is
down 227.91 points or 0.59 % at 38395.79, and the Nifty shed 56
points and was trading at 11247.30.
Market
rallied on hopes of a coordinated effort by major central banks to combat
the economic fallout of the virus was kept in check on Wednesday by losses in
heavyweight financials.
Metal stocks
dragged the most dragged by Jindal Steel and Power which fell over 4% followed
by Tata Steel, SAIL, JSW Steel, Hindustan Zinc and Vedanta.
Auto stocks
were also under pressure dragged by Tata Motors which fell over 3% a
day after the company reported a 34.42% cut in production in February 2020 due
to fast-spreading coronavirus.
The other losers
included Eicher Motors, Motherson Sumi Systems, Mahindra & Mahindra and TVS
Motor Company.
However, the
pharma index jumped over 2% led by Sun Pharma and Cipla which gained over 4%
each. The other gainers included Dr. Reddy's Labs, Glenmark Pharma, Aurobindo
Pharma and Cadila Healthcare.
Share price
of Tata Chemicals crashed over 56% after the stock started trading on the
bourses without food business. The company has fixed March 5, 2020, as the
record date, to determine the shareholders of the Company to
whom equity shares of Tata Consumer Products (TCPL) shall be issued in
consideration for the demerger of the consumer products business of the Company
into TCPL.
India
VIX was down 0.16% and was trading at a 24.5 level.
SBI Cards
and Payment Services, the first initial public offering of 2020 has seen a
88.51% subscription on March 4, the third day of bidding.
The biggest
public offer after GIC Rein October 2017 has so far received bids for over
8.92 crore equity shares against IPO size of more than 10 crore equity shares
(excluding anchor book), the exchanges data showed.
The top
gainers included Vedanta, Sun Pharma, Cipla, Dr. Reddy's Labs, GAIL
India and Asian Paints while the top losers included YES Bank, Tata Steel,
Tata Motors, IndusInd Bank and Eicher Motors.
The most
active stocks included State Bank of India, Indiabulls Housing Finance,
Reliance Industries, Sun Pharma and HDFC Bank.
26 stocks
hit new 52-week high on the BSE including Max Financial Services, Deepak
Nitrite and Ipca Labs among others.
223 stocks
hit a fresh 52-week low on the BSE including Tata Chemicals, Spicejet, PNB
Housing Finance, Central Bank of India, Karur Vysya Bank, Exide Industries,
Bank of India and CESC among others.
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