Mumbai: As soon as the Corona-like HMPV virus spread in China entered India and its cases were reported in many states including Karnataka, Gujarat, the central and state governments came into alert mode, overreaction of this virus was also seen in the stock markets. Today. The overreaction in Indian stock markets led to a gap in contrast to global markets seeing significant impact on news related to the virus.
Despite the opinion of medical experts that the HMPV virus is not so deadly and its infection can be prevented with vigilance, like during the Corona epidemic, this time also the big players of funds and recession in the Indian stock markets saw the opportunity and took action against this virus. Was successful in spreading, destroyed property worth Rs 11 lakh crore. There was a universal outcry today as the stocks were hammering themselves and it seemed as if this panic was being hammered into the stocks. There were big differences among stocks including small, mid cap, A group.
Today, due to heavy fall in capital goods shares, Sensex fell by 1258.12 points to close at 77964.99 and Nifty 50 spot index fell by 388.70 points to close at 23616.05. Inox Wind fell by Rs 12.20 to Rs 172.65, NBCC fell by Rs 4.71 to Rs 87.84, Rail Vikas Nigam fell by Rs 21.75 to Rs 410.20, Suzlon NG fell by Rs 3.08 to Rs 58.88, BHEL fell by Rs 10.15 to Rs 219.80, Keynes fell by Rs 374.30. Rs 7168.75, Carborundum Universal down Rs 47.25 to Rs 1254, Kalpataru Power down Rs 43.45 to Rs 1236.60, Lakshmi Machine Works down Rs 510.20 to Rs 16,329.95, Titagraha Wagon down Rs 31.35 to Rs 1087.05, Finolex Cables down Rs 45.55. Rupee fell to Rs 1109.05, ABB India fell by Rs 173.45 to Rs 6618.85, Power Grid Corporation fell by Rs 318.40 to Rs 14,805.40.
Auto stocks also declined globally due to heavy fall in funds today. Exide Industries fell by Rs 15.75 to Rs 409.10, Motherson fell by Rs 5.85 to Rs 154.20, TI India fell by Rs 124.50 to Rs 3485.55, Ashok Leyland fell by Rs 7.40 to Rs 226.60, falling by Rs 86.80 to Rs 2728.10. TVS Motor fell by Rs 69.70 to Rs 2412.60, Bosch fell by Rs 931.55 to Rs 33,308.70, Mahindra & Mahindra fell by Rs 82.15 to Rs 3105.10, MRF fell by Rs 3176.10 to Rs 1,23,244.45, Suzuki fell by Rs 194.25. At Rs 11,749.20, Bajaj Auto fell by Rs 143 to Rs 8822.90, Eicher Motors fell by Rs 68.30 to Rs 5239.70. BSE Auto Index fell 1196.15 points to close at 52975.68.
There was a lot of difference in the shares of consumer durables companies also today. Aditya Birla Fashion fell by Rs 15.45 to Rs 264.90, Blue Star fell by Rs 103.35 and Fund BSE Bankex Index fell by 1186.29 points to close at 56741.43. Bank of Baroda fell by Rs 13.75 to Rs 227.85, Yash Bank fell by Rs 1.04 to Rs 18.92, Canara Bank fell by Rs 4.10 to Rs 97.35, Federal Bank fell by Rs 7.75 to Rs 197.55, Kotak Mahindra Bank fell by Rs 59.90 to Rs 1779.25. , IndusInd Bank fell by Rs 28.40 to Rs 969.70, HDFC Bank fell by Rs 39 to Rs 1710.30, State Bank of India fell by Rs 16.75 to Rs 776.75. Among metal-mining stocks also, funds were offloaded today. Hindustan Zinc fell by Rs 22.40 to Rs 446.60, Tata Steel fell by Rs 6.10 to Rs 132.20, NMDC fell by Rs 2.75 to Rs 64.91, NALCO fell by Rs 8.05 to Rs 199.95, Coal India fell by Rs 15.15 to Rs 378.75. , SAIL It fell by Rs 3.90 to Rs 110.30, Vedanta fell by Rs 15.50 to Rs 442.40, Hindalco fell by Rs 17 to Rs 574.10, Jindal Steel fell by Rs 19.30 to Rs 938.85.
How can China’s virus be found only in India?
Global markets rise in European markets: No impact on Shanghai Stock Exchange
Discussion has started on how the Chinese virus has spread in the Indian markets and big players, funds have made big trades under the cover of recession. Unlike the Indian markets, a bullish storm was seen in the global markets, especially in the markets of European countries. In the evening, Germany’s DEX index showed an improvement of 265 points, France’s CAKE 40 index showed an improvement of 150 points and London’s FTSE 100 index showed an improvement of five points. In Asia-Pacific, the Tokyo stock market’s Nikkei 225 index fell 587 points amid the possibility of another crisis in yen carry trade after the Japanese Finance Minister made statements about raising interest rates soon. While the CSI 300 index of China’s Shanghai Stock Market fell only 6 points.
a non-virus problem
Fear of interest rates rising again in Japan
Today, the market sentiment has also been affected by the statement of the head of the Central Bank of Japan. The world’s third-largest economy faces a number of risks and despite these risks, Asian markets including India declined after Japan’s central bank governor Kazuo Uede hinted at raising interest rates in the near future.
The entry of the Chinese HMPV virus into India and subsequent preparations by the Bank of Japan Governor to further hike interest rates pushed the index lower. Ude said that if the economy continues to improve, the central bank will increase interest rates further. However, they stressed the need to consider multiple parameters for this increase and the different risks of its impacts. The yield on Japan’s benchmark 10-year government bond rose 3.5 basis points on Monday to a 13.5-year high of 1.125 percent. , A rise in interest rates in Japan has raised concerns about yen-based trading in countries including India and fears of mass withdrawals have sent stock markets crashing.
