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<ul><li>Indian share markets bore the brunt of panic selling, with the benchmark <keyword id="6484188" type="DEFINITION" weightage="20" keywordseo="sensex">Sensex</keyword> and <keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> falling by over 3.5% during the day’s trading. </li><li>The panic selling wiped off over ₹8 lakh crore of investor wealth, but the worst might be over for now. </li><li>Market analyst Arun Kejriwal suggested that the recovery could happen as soon as this week itself. </li></ul>Rising COVID-19 cases and lockdown paranoia sent the share markets reeling under panic, wiping off over ₹8 lakh crore of investor wealth. Both Sensex and Nifty slumped by over 3.5% as the markets feared the second wave of COVID-19 leading to lockdowns. However, investors who are feeling the heat today might find solace that analysts expect that the worst might be over for now. “Fears of an impending lockdown amid rising COVID-19 cases led to panic selling today. The markets have accounted for the expected lockdown in Maharashtra, and may stage a recovery as soon as this week,” market analyst Arun Kejriwal told Business Insider India. Small and mid-cap investors singed under the sell-off while small and mid-cap indices fell by 4.5-5%, Sensex declined by a relatively lower 3.5%. Nifty was hovering around the 14,300 mark at 2 pm on April 12, down by over 500 points from its previous close on April 9, the previous working day. <div type="image" title="Nifty March-April 12, 2021." msid="82030279" hostid="261" caption="&amp;lt;p&amp;gt;The benchmark Nifty50&amp;#39;s performance from March 1, to April 12, 2021&amp;lt;/p&amp;gt;"></div> The worst losers were spread across banking, automobile and infrastructure sectors. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Share price </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Performance </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">290.9 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.58% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">756.5 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.15% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">851.75 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7.78% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4535.55 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.85% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">329.9 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.54% </td></tr></tbody></table> Source: NSE, as of 2:30 pm, April 12, 2021. However, Binod Modi of Reliance Securities struck a concerned note. “Domestic equities do not look to be inspiring at the moment. A sharp increase in Covid-19 daily cases in the country, and possibility of large economic restrictions are expected to keep investors nervous in the near term,” he was quoted by PTI. The focus is on the impending lockdown in Maharashtra, which is the worst affected state in terms of rising COVID-19 cases across the country. This, Modi said, is also weighing in on investor sentiments. According to Kejriwal, the next support level for Nifty is 14,200. Based on the existing number, investors still have a cushion of around 100 points. Kejriwal explained that the markets could stay above this level for this week. Much depends on the earnings of the leading three information technology (IT) services companies – TCS, Infosys and Wipro – all of whom are scheduled to announce their March 2021 quarter results this week, starting with TCS today (April 12). The results of these companies will decide which way the IT sector goes after today’s panic sell-off. This will also have an impact on the overall markets, according to Kejriwal. If you were holding off on buying stocks, now could be a good time. After all, corrections and sell-offs present an opportunity. American investor Warren Buffet had once said, “be fearful when others are greedy, and greedy when others are fearful.” SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/flipkart-partners-with-adani-group-to-set-up-a-sprawling-five-lakh-square-feet-fulfilment-centre-in-mumbai-and-theres-more/articleshow/82027201.cms">Flipkart partners with Adani Group to set up a sprawling five lakh square feet fulfilment centre in Mumbai – and there’s more</a> <a href="https://www.businessinsider.in/tech/news/aadhaar-pan-and-bank-account-numbers-leaked-in-upstox-data-breach/articleshow/82025949.cms">Discount broker Upstox suffers data breach – Aadhaar, PAN and bank account numbers leaked</a> <a href="https://www.businessinsider.in/stock-market/news/tcs-infosys-jsw-steel-and-other-stocks-to-watch-out-for-on-april-12/slidelist/82024378.cms">TCS, Infosys, JSW Steel and other stocks to watch out for on April 12</a>

Stock markets plunge by over 3.5% wiping off over ₹8 lakh crore of investor wealth – but may recover soon as per analysts

Equity benchmark <keyword id="6484188" type="PERSON" weightage="20" keywordseo="sensex">Sensex</keyword> advanced over 150 points in early trade on Friday, tracking gains in index majors <keyword id="45123" type="CITY" weightage="20" keywordseo="HDFC">HDFC</keyword> twins, <keyword id="106317" type="CITY" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword> and <keyword id="141968" type="CITY" weightage="20" keywordseo="HCL-Tech">HCL Tech</keyword> amid largely positive cues from global markets. The 30-share BSE index was trading 160.43 points or 0.33 per cent higher at 48,964.11. Similarly, the broader <keyword id="372424" type="COMPANY" weightage="20" keywordseo="NSE-Nifty">NSE Nifty</keyword> rose 63.35 points or 0.43 per cent to 14,644.80. UltraTech Cement was the top gainer in the Sensex pack, rising over 2 per cent, followed by Asian Paints, HCL Tech, HDFC, <keyword id="11107551" type="UNKNOWN" weightage="20" keywordseo="tech-mahindra-and-mm-">Tech Mahindra and M&amp;M.</keyword> On the other hand, ICICI Bank, Reliance Industries, Bajaj Finance and Axis Bank were among the laggards. In the previous session, Sensex ended 259.62 points or 0.53 per cent higher at 48,803.68, and <keyword id="6354813" type="COMPANY" weightage="20" keywordseo="Nifty">Nifty</keyword> advanced 76.65 points or 0.53 per cent to 14,581.45. Foreign institutional investors were net buyers in the capital market as they purchased shares worth ₹979.70 crore on Thursday, according to provisional exchange data. "A continued surge in the second wave of COVID-19 cases in the country, which already crossed 2 lakh daily cases, has certainly dented investors' sentiments. "However, the government's strong effort to expedite vaccination progress in the country by allowing multinational vaccines in domestic markets and absence of complete lockdown in <keyword id="13126" type="COMPANY" weightage="20" keywordseo="Maharashtra">Maharashtra</keyword> and Delhi offered some comfort to equities," said Binod Modi Head-Strategy at Reliance Securities. Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo were trading on a positive note in mid-session deals, while Seoul was in the red. Equities on Wall Street too ended with gains in overnight sessions. Meanwhile, international oil benchmark Brent crude was trading flat at USD 66.94 per barrel. SEE ALSO: <a href="https://www.businessinsider.in/business/news/flipkart-acquires-cleartrip-in-an-effort-to-cement-its-position-in-the-travel-booking-segment/articleshow/82081931.cms">Flipkart acquires Cleartrip in an effort to cement its position in the travel booking segment</a> <a href="https://www.businessinsider.in/science/health/news/remdesivir-injection-price-jumps-five-times-as-covid-19-cases-rise/articleshow/82083414.cms">The utter chaos and confusion over Remdesivir in India is making the COVID-19 second wave worse</a> <a href="https://www.businessinsider.in/careers/news/jira-and-trello-maker-atlassian-is-looking-to-hire-300-engineers-in-india-in-2021/articleshow/82083765.cms">Atlassian, the maker of Jira and Trello, is looking to hire 300 engineers in India this year</a>

Sensex jumps over 150 points in early trade, Nifty tests 14,650 — UltraTech Cement, Asian Paints, HCL Tech, HDFC, Tech Mahindra and M&M top gainers

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Stock markets plunge by over 3.5% wiping off over ₹8 lakh crore of investor wealth – but may recover soon as per analysts

Rounak Jain

Sensex jumps over 150 points in early trade, Nifty tests 14,650 — UltraTech Cement, Asian Paints, HCL Tech, HDFC, Tech Mahindra and M&M top gainers

PTI

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