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It is the ETF flows that are taking the markets lower, according to A Balasubramanian of Aditya Birla Sun Life AMC. He made these comments in an interaction with BloombergQuint.
Here are some of the other key takeaways from the interaction:
10 lakh shares of the hospital chain changed hands in a large trade on the National Stocks Exchange, as per Bloomberg data. Buyers and sellers in the trade were not immediately known. The stock trades 4 percent lower at Rs 143.35 as of 3:10 PM.
A Year Of Hope Turns Into Despair For ONGC
European equities had their biggest one-day decline since 2016 and were set to enter a bear market as a price war in oil dealt a new blow to a global economy already grappling with the Coronavirus.
Nifty Bank
Nifty Auto
Nifty FMCG
Nifty I.T.
Nifty Metal
Nifty Bank: March 12 Expiry
ONGC
Falls the most since October 2018
Trades at lowest level since September 2004
Vedanta
Falls the most since February 28, 2020
Trades at lowest level since May 2016
Reliance Industries
Falls the most since October 05, 2012
Trades at lowest level since August 2019
TCS
Falls the most since October 2014
Trades at lowest level since October 2019
ICICI Bank
Falls the most since August 10, 2017
Trades at lowest level since October 2019
Shares of Future Lifestyle Fashions extended gains for the second consecutive trading session. The stock rose as much as 4.2 percent to Rs 346.
The scrip advanced 16 percent in two sessions. Prior to March 6, Future Lifestyle declined for twelve consecutive trading sessions. Trading volume was three times its 20-day average, according to Bloomberg data. The stock was among the best performers in the NSE Nifty 500 Index.
The market regulator on volatility in securities market.
— BloombergQuint (@BloombergQuint) March 9, 2020
Catch more market updates: https://t.co/ZxbsJtkpT2 pic.twitter.com/WXCSs1l8hA
For Nifty Bank: March 12 Expiry
Mukesh Ambani’s Reliance Industries Slides Over 20% From Record High
The bank deferred its board meeting to raise funds in view of the current market conditions. “In view of the current market conditions and since the Bank is adequately capitalized at present, it has been decided not to consider raising Basel-III-compliant Debt Capital instruments for the time being,” it said in a statement to the exchanges.
Get a snapshot of all that you need to know going into today’s trade HERE!
Yes, counterfactuals are hard and hindsight is 20/20 but I did express concerns last week:
— Mohamed A. El-Erian (@elerianm) March 9, 2020
As the probability of market stress/malfunctioning now increases,I suspect the #Fed may regret having deployed the 50 bps cut too early -- and especially so given it was so poorly received.
Five more people from Kerala tested positive on Sunday, taking the total number of cases in India to 39.
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