The pandemic COVID-19 has created a serious issue around the world, whether it is about human life or economic growth, both decreasing with its increasing effect. No business across countries, effecting the economy very badly. The countries growth is degrading, showing no signs of stopping.

” The increasing Coronavirus cases across country disrupting the business causing its GDP growth forecast also being downgraded,” said Vinod Nair, Head of Research at Geojit Financial Services.

Sensex was recorded below 29000 for the first in 3 years, closed at 5.59% or 1,710 points lower at 28,870. While the Nifty collapsed 4.75% or 426 points to close at 8,542. A total of 5.9 lakh crore of investors lost today on the BSE.

List of top losers (S&P BSE)

Company Current %Loss
Induslnd bank 459.85 -23.90
Power Grid Corp 143.85 -11.29
Kotak Mahindra 1,173.00 -11.23
Bajaj Finance 3,062.15 -11.11
HDFC 878.50 -9.92

List of top gainers (S&P BSE)

Company Current %Gain
ONGC 68.18 13.58
ITC 150.65 0.97

List of top losers (NSE)

Company Current %Loss
Induslnd bank 460.80 -23.75
Bharti Infratel 149.90 -11.29
Kotak Mahindra 1,171.95 -11.40
Bajaj Finance 3,061.35 -11.13
Power Grid Corp 144.15 -11.02

List of top gainers (NSE)

Company Current %Gain
Zee Entertain 164.10 23.29
ONGC 68.15 13.58
Yes Bank 60.45 3.07
ITC 150.70 1.04
SBI 215.20 0.02

The supreme court didn’t provide any respite to the telecom player, the apex court questioned the Solicitor General on telcos’ self-assessments of AGR rules without permission of the court. The banks have large exposure to debt-laden telecom firms, which made them lose today.

Global Market

  • US stock index futures tumbled on Wednesday
  • S&P 500 futures were 92 points down, or 3.69%
  • SPDR S&P 500 ETFs tumbled 5.6%
  • ET, Dow e-minis were down 821 points
  • Nasdaq 100 e-minis were down 328 points, or 4.43%

COVID-19 will continue its growth in the coming months until its medicine is discovered and the market growth will continue to tremble until the restrictions among countries are not removed. Which is not possible at present due to the safety purposes of people.

The selling pressure from foreign institutional investors continued and more downside could be coming as the market continue trembling