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Market Wrap: Sensex Skyrockets 1,325 Points, Nifty Also Reclaims 9,900 Mark

The BSE Sensex On Thursday Plummeted 3,000 Points Hitting Its 10 Percent Lower Circuit Limit At 29,687.52. Nifty Also Hit Its Lower Circuit At 8,624.05, Down By 10 Percent Or 966.10 Points.

News Nation Bureau | Edited By : Assem Sharma | Updated on: 13 Mar 2020, 05:45:53 PM

Sensex Skyrockets 1,325 Points, Nifty Also Reclaims 9,900 Mark (Photo Credit: file photo )

New Delhi:

Equity benchmark Sensex skyrocketed 1,325.34 points while the Nifty reclaimed the 9,900-level mark after a highly volatile session on Friday. The indices plunged over 10 per cent in the opening session, hitting their lower circuit levels and stock exchanges halted trading for 45 minutes within 15 minutes of market opening and resumed at around 1030 hours.

Similarly, the NSE Nifty settled 365.05 points, or 3.81 per cent, up at 9,955.20. It hit an intra-day low of 8,555.15. Most Sensex components ended with gains included SBI which was also the top gainer followed by Tata Steel, HDFC, Sun Pharma, Bajaj Finance, Bharti Airtel and ICICI Bank.

On the other hand, Nestle India, Asian Paints, HUL, Hero MotoCorp and HCL Tech ended on the down side.

The BSE Sensex on Thursday crashed 3,000 points hitting its 10 percent lower circuit limit at 29,687.52. Nifty also hit its lower circuit at 8,624.05, down by 10 percent or 966.10 points.

In rest of Asia, Shanghai witnessed a slip of 1.23 per cent, Hong Kong 1.14 per cent, Seoul 3.43 per cent and Tokyo 6.08 per cent. Bourses in Europe opened up to 4 per cent higher.

The rupee too witnessed a sharp recovery, appreciating 47 paise to 73.81 per US dollar (intra-day). Brent crude oil futures surged 5.51 per cent to USD 35.05 per barrel. The total number of confirmed coronavirus cases in India stood at 75, including 17 foreigners, as per health ministry data.

Bullion Market Closing: Gold Prices Dive Rs 1,097 Per 10 Gram

Gold prices on Friday crashed by Rs 1,097 to Rs 42,600 per 10 gram in the national capital. The yellow metal had closed at Rs 43,697 per 10 gram in the previous session. Silver prices also plummeted by Rs 1,574 to Rs 44,130 per kg from Rs 45,704 per kg on Thursday.

Spot gold for 24 karat in Delhi was trading lower by more than Rs 1,000 on rupee appreciation, HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

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“The spot rupee was trading around 23 paise stronger against dollar during the day on RBI intervention,” he added. The Indian rupee staged a recovery in the afternoon session, trading 36 paise higher against the US dollar, after the Reserve Bank stepped in to maintain sufficient liquidity in the panick-stricken currency market.

“Gold prices traded volatile on Friday with international spot gold prices hovering near USD 1,585 after witnessing sell-off on Thursday’s evening session,” Patel said. Globally, gold was trading higher at USD 1,584 per ounce, while silver quoted lower at USD 15.65 per ounce.

(With inputs from PTI)

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First Published : 13 Mar 2020, 05:43:00 PM