Nifty, Sensex recovery will depend on the US market trend – Monday closing report
We had mentioned in last week’s closing report that Nifty, Sensex were still under the attack of bears. The major indices posted its worst ever decline in a single day.
On the NSE, there were 129 advances, 1,703 declines and 292 unchanged. The trends of the major indices in the course of Monday’s trading are given in the table below:
Key Indian equity indices traded deep in the red on late Monday afternoon with the S&P BSE Sensex plunging around 4,000 points. In the early hours, trade had halted for 45 minutes, as both BSE Sensex and the Nifty50 hit the 10% lower circuit.
Market regulator SEBI has relaxed compliance regulations for listed entities which have listed their non-convertible debentures (NCD), commercial papers (CP), non-convertible redeemable preference shares (NCRPS) and municipal debt securities.
Asian Paints will shut operations in all its manufacturing units and sales locations in the next 24 hours in view of the corona virus crisis and lockdown announced in several states.
Toyota's India joint venture halted production of cars at its Bidadi plant near here over the coronavirus outbreak and consequent lockdown till March 31, the comnpany said on Sunday.
Honda Motorcycle & Scooter India on Sunday announced temporarily shutdown of operations across all its four manufacturing plants with immediate effect till further notice.
Mangalam Drugs and Organics is gearing up production of HCQS and CQP APIs to meet the demand in case these APIs are approved for treatment of patients affected by Coronavirus Disease (COVID-19) by regulatory authorities. The company is engaged in the business of manufacturing of various APIs for anti-malaria, anti-retrovirals etc, including Hydroxrychloroquine Sulphate (HCQS) and Chloroquine Phosphate (CQP) APIs.
3M India will close down its Ranjangaon and Ahmedabad plants from Monday (March 23, 2020) to Wednesday (March 25, 2020). However, respirators and sanitizers lines in the Ranjangaon plant will operate as they are classified as essential commodities. Their Bangalore plant which was in operation today (March 23, 2020)in first shift, will be closed from second shift today till Saturday March 28, 2020 until further directions.
UltraTech Cement has suspended its operations at various locations and are taking various precautionary measures to protect employees and workmen.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below: