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.