Corona Effect: Today Share Market Opens in Red Zone

• Today Sensex crashes 1,700 points and Share Market opened in Red Zone.
• At 9.17 am today, the Bombay Stock Exchange’s major index Sensex was down by 3.78 per cent to 1274.17 points at 32443.45.
• At the same time, the National Stock Exchange’s Nifty fell by 4.13 per cent to open at 4045.05 points at 9452.85.
• Earlier on May 1, there was a holiday in Indian stock markets due to Maharashtra Day.

Reliance shares down

• US private equity company Silver Lake Partners has bought a one per cent stake in Reliance Industries’ Jio Platforms.
• This was followed by a drop in Reliance’s stock. After opening at the level of 1440, it fell 26.20 points or 1.79 per cent to reach the level of 1439.80 at 9.59 am.
• Whereas it closed at 1466 on the previous trading day. Silver Lake will invest Rs 5,655.75 crore in Jio Platforms.
• With this investment, the equity value of Jio platform is Rs 4.90 lakh crore and the enterprise value is 5.15 lakh crore.

Coronavirus effect on Share Market

• There is a steady increase in the number of patients infected with the coronavirus across the country, which affected the market.
• According to data released by the Union Ministry of Health and Family Welfare, the total number of corona positive cases across the country has risen to 42,533.
• Out of which 29,453 are active, 11,707 have become healthy or have been discharged from hospital and 1373 people have died.
• In view of this, the lockdown in the country has now been extended to 17 May. However, the center has provided several reliefs in the third phase of the lockdown.
• The governments/administrations of the State or Union Territory may impose certain restrictions on the basis of their assessment.

Coronavirus effect on the world

• On May 1, most markets around the world declined. The US market Dow Jones was down 622.03 points at 23,723.70, down 2.55 percent.
• The Nasdaq was down 284.60 points to end at 8,604.95, down 3.20 percent. The S&P was down 81.72 points at 2,830.71, down 2.81 percent.
• China’s Shanghai Composite was in no profit-no loss. In addition, markets in France, Italy and Germany also declined.

FPIs withdraw their money

• According to the latest depository data, the withdrawal of foreign portfolio investors (FPIs) from Indian capital markets continued for the second consecutive month in April.
• FPIs netted Rs 15,403 crore from Indian capital markets in April amid the Coronavirus crisis.
• Withdrawal has decreased by 86 percent compared to March. In April, FPI netted Rs 6,884 crore from the shares.
• At the same time, he made a net withdrawal of Rs 8,519 crore from the bond or loan market.
• In this way, he pulled out Rs 15,403 crore from the Indian capital markets.
• At the same time, in March, FPI withdrew a record Rs 1.1 lakh crore from the Indian capital markets.

What about big stocks

• Talking about big stocks, shares of all companies opened on the red mark today.
• The top losers include Tata Motors, Vedanta Limited, Tata Steel, JSW Steel, IndusInd Bank, Bajaj Finance, Hindalco, Tech Mahindra, Axis Bank and Zee Limited.

Sectoral index tracking

• If we look at the sectoral index, then all the sectors opened on the red mark today.
• These include Media, Pharma, Realty, Metal, IT, Auto, FMCG, Banks, Private Banks and PSU Banks.

The stock market during the pre-open

• Today the share market was at the red mark at 9.10 am during the pre-open.
• The Sensex was down 969.48 points, or 2.88 per cent, at 32748.14.
• The Nifty was at 9533.50 after dropping 326.40 points, or 3.31 per cent.
• The stock market opened for the fourth consecutive day on the previous trading day.
• At 9.16 am, the Sensex started with a gain of 2.01 per cent, up 658.08 points at 33378.24.
• At the same time, the Nifty opened at the level of 9748.55, up 195.20 points with a gain of 2.04 percent.

The market closed on the green mark on Thursday

• The share market closed on the green mark on Thursday after day-long fluctuations but today open in Red zone.
• The Sensex ended 997.46 points, or 3.05 per cent, at 33717.62.
• At the same time, the Nifty closed at 9859.90 with a gain of 306.55 points, or 3.21 per cent.