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Sensex, Nifty crumble on coronavirus woes: Stocks that bled the most today

IndusInd Bank declined 70.94% in the last one-month on Sensex, followed by over 50% decline in Axis Bank, Bajaj Finance and around 44-42% fall in ICICI Bank, Mahindra & Mahindra, SBI, Larsen & Toubro and Tata Steel.

Sensex, Nifty crumble on coronavirus woes: Stocks that bled the most today

Earlier, the downfall of 10% in Sensex led to a halt in trading for 45 minutes today

After the  government locked down 75 districts to counter the rising coronavirus cases, all sectors ended in the red today with Sensex and Nifty crashing 13% each to hit fresh 52-week lows. Today's plunge came after a 35% fall in benchmark indices in just over a month due to rising number of coronavirus cases across the country.

Earlier, the downfall of 10% in Sensex led to a halt in trading for 45 minutes today.

Sensex and Nifty have fallen to early 2017 levels after they were hit by rising number of coronavirus cases around the world and at home. Today, Sensex closed 3,934 points lower at 25,981 and Nifty lost 1135 points to 7,610.  

All 50  stocks on Nifty ended in the red.

Axis Bank (27.60%), Bajaj Finserv (27.48%), Indusind Bank (23.92%), Bajaj Finance (22.73%), Zee Entertaiment (20%) were the top  Nifty losers today.

In the past one month, IndusInd Bank has been the top loser on Nifty, declining 71% in the period, followed over 50% drop in Tata Motors, Vedanta, Axis Bank and UPL.

Total 12 stocks namely IndusInd Bank, RIL, Bajaj Auto, SBI,  Axis BANK, ICICI Bank, Mahindra and Mahindra, Maruti, Bajaj Finance, Tata Steel, Larsen & Toubro and ONGC have lost 50% since the start of this year on BSE.

Similarly, 9 stocks on Nifty that were trading 50% lower since the beginning of the year were Indusind Bank, Tata Motors, Hindalco, Vedanta, Zee Entertainment, Axis Bank, UPL, and ONGC.

IndusInd Bank declined 70.94% in the last one-month on Sensex, followed by over 50% decline in Axis Bank, Bajaj Finance and around 44-42% fall in ICICI Bank, Mahindra & Mahindra, SBI, Larsen & Toubro and Tata Steel.

In the meanwhile, YES Bank has increased 14% and ONGC and ITC shares have risen over 4% in the last one-week on BSE and NSE. Total 1,180 stocks fell to their 52-week lows on BSE. Maruti, Hero MotoCorp, HDFC Bank, L&T, IndusInd Bank, Axis Bank, Sun Pharma, ICICI Bank, M&M, Coal India, NTPC, Vedanta and Tata Motor DVR, Advanced Enzymes, All Cargo Logistics, Apex Frozen Foods, Apollo Micro Systems and Anup Engineering were among the top stocks that hit their 52-week lows today.

Sector-wise, banking and financial stocks led the losses. BSE bankex and BSE financial index fell over 16% each.

Bank Nifty fell 3,400 points to 16,917. Private banking and bluechip financial stocks fell more than 12% in today's trade, with shares of IndusInd Bank, Axis Bank, ICICI Bank leading the losses.

Axis Bank, IndusInd Bank, SBI, Titan, Infosys, ICICI Bank, HDFC Bank, Tata Steel, Reliance Industries, ONGC, Tech Mahindra, Mahindra & Mahindra, Larsen & Toubro, Sun Pharma, Maruti Suzuki and Bajaj Auto were traded  near their respective 3-year lows on Sensex.

On NSE,  Federal Bank, RBL Bank closed 23% and 17.23% lower and hit their 52-week lows. SBI  and Canara bank stocks hit their one-year lows.

In financials, HDFC Life, ICICI Prudential, ICICI Bank, Axis Bank, Cholamandalam Investment and Finance and Mahindra & Mahindra Financial Services declined 15%-25% each and touched their 52-week lows.

Bharat Forge, Maruti, Ashok Leyland, Tata Motors and Eicher Motors in Nifty Auto, while RIL, Tata Power, NTPC and BPCL in Nifty Energy hit one-year lows as well. JSW Steel, Jindal Steel, Tata Steel, Hindalco and Vedanta on metal index too traded at one-year lows.

Many companies have been shutting down manufacturing plants due to the lockdown amid the virus pandemic.

Enkei Wheels India announced today about shutting down operations until March 31, 2020. Further, companies such as DCM Shriram Industries, Aditya Birla Fashion and Retail, Subros Ltd, Bharat Forge, Pokarna Limited & Pokarna Engineered Stone Limited, Sunil Industries, SL Limited, SML Isuzu, Shree Cement, Whirlpool of India, Lumax Auto Technologies, Machino Plastics, TVS Motor Company, Royal Enfield, GNA Axles, Asian Paints, Minda Industries, Lumax Industries, Siemens, Jtekt etc. have announced the closure of operations and shutdown of facilities until further notice.

Market sentiment weakened as the government put 75 districts in lockdown from Monday after seventh death from coronavirus was reported in India.

Coronavirus lockdown: Sensex logs biggest loss ever, ends 3,934 points lower; Nifty down 1,110 points

Why rupee is falling despite high forex reserves?

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