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<ul><li>The National Stock Exchange (NSE) of India halted trading during the early hours on Wednesday after a technical glitch in the index price feed.</li><li>The live price quotes of all the 11 sub-indexes compiled by the NSE are also not updating.</li><li>NSE said that its telecom service providers had communicated issues on their end, forcing the stock-exchange to halt trading.</li><li>NSE is India’s largest stock exchange, and this is not the first time that it has faced technical glitches.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>The National Stock Exchange (NSE) of India halted trading during the early hours on Wednesday after a technical glitch in the index price feed. This came after several traders and investors took to social media platforms to report glitches and problems that restricted them from trading on the index. Accordingly, the technical glitch impacted intra-day trading on futures and cash segments. The glitch occurred as rates on NSE stopped updating at 10.08, which led to the closure of the F&amp;O segment by 11.40 am and the cash market by 11.43 am. The live price quotes of all the 11 sub indexes compiled by the NSE are also not updating. <div type="Article" hostid="261" msid="81186570" title="RBI wants you to memorise all your debit and credit card numbers — Amazon, Zomato, Netflix and others argue this will make online payments more tedious" mstype="2" mssubtype="0"></div> NSE said it has multiple telecom links with two service providers to ensure redundancy. However, both the telecom service providers have communicated issues on their end, forcing the stock-exchange to halt trading. “We are working on restoring the systems as soon as possible. In view of the above, all the segments have been closed at 11:40 and will be restored as soon as the issue is resolved.” <div type="twitter" handle="NSEIndia" handlename="NSEIndia" image="http://pbs.twimg.com/profile_images/1027220658206306304/3DoFsMIs_normal.jpg" favoritecount="1140" retweetcount="302" status="NSE has multiple telecom links with two service providers to ensure redundancy. We have received communication from… https://t.co/cTB3rJsGXE" createdat="1614148199000" id="1364462560003559426"></div> India’s largest broking platform Zerodha informed its clients on social media that the stock-exchange is facing issues and has halted trading until further notice. <div type="twitter" handle="zerodhaonline" handlename="Zerodha" image="http://pbs.twimg.com/profile_images/878157243958480896/02ktQOXf_normal.jpg" favoritecount="468" retweetcount="45" status="There is an issue with live ticks for NSE indices (Nifty 50, Nifty Bank and others) across brokers. We are in touch… https://t.co/kCyfRJaK7M" createdat="1614142260000" id="1364437650938077184"></div> "NSE has halted all trading (Equity, F&amp;O, Currency) from 11.40 am. NSE had issues with streaming feeds for Nifty, Bank Nifty, and other indices from 10.06 am. I am guessing that they are restarting all the processes for which they had to stop trading to fix the index feeds issue," said Nithin Kamath, co-founder of Zerodha, in a tweet. This is not the first time India's largest stock exchange has faced technical glitches that forced it to halt trading. Last year, in June, erroneous price feeds for certain futures and options (F&amp;O) contracts disrupted trading <a href="https://www.business-standard.com/article/markets/erroneous-price-feeds-for-f-o-contracts-disrupt-trading-on-bank-nifty-120060401702_1.html">activity at NSE</a>, and brokers had to caution their investors to use limit or stop-loss orders. In <a href="https://www.business-standard.com/article/markets/national-stock-exchange-system-hit-by-glitch-in-final-minutes-of-trade-119092400058_1.html">September 2019</a>, the NSE systems faced trading outages, and investors were unable to place orders for 15 minutes. Back then, the error in systems had occurred due to connectivity issues with a service provider. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/vested-finance-ceo-shares-his-guide-to-us-stock-investing-for-indians/articleshow/81185944.cms">Vested Finance CEO shares his guide to US stock investing for Indians</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/vested-finance-ceo-shares-his-guide-to-us-stock-investing-for-indians/articleshow/81185944.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/these-indian-states-now-require-you-to-carry-a-covid-19-negative-test-report-for-entry-after-rising-coronavirus-cases/slidelist/81185478.cms">These Indian states now require you to carry a COVID-19 negative test report for entry</a>

India’s largest stock exchange halts trading after data glitches stop Nifty50 and Bank Nifty from updating

<ul><li>The national stock exchange and the BSE have extended trading hours till 5 PM today after <keyword id="6354646" type="UNKNOWN" weightage="20" keywordseo="nse">NSE</keyword> halted trading for at least 4 hours.</li><li>The halt left the traders in a lurch about their positions a day ahead of the derivative contracts' monthly expiry.</li><li>In minutes after the resumption, Sensex surged over 800 points to top 50,670 mark; Nifty neared 15,000.</li></ul>The National Stock Exchange and the BSE have extended trading hours till 5 PM today after NSE halted trading for at <a href="https://www.businessinsider.in/stock-market/news/nse-halts-trading-after-data-glitches-stop-nifty50-and-bank-nifty-from-updating/articleshow/81186539.cms" data-type="tilCustomLink">least 4 hours due to a technical snag</a>. The trading at NSE resumed at 3.45 PM. In minutes after resumption, Sensex surged over 800 points to top 50,670 mark; Nifty neared 15,000 mark, up by over 270 points. <div type="Article" hostid="261" msid="81188380" title="NSE memes flood social media as the stock exchange halts trading due to glitch" mstype="2" mssubtype="0"></div> "BSE equity and equity derivatives markets will remain open till 5 pm today as decided jointly between exchanges today. All other market timings will remain as normal," BSE said in a statement. Taking note of the around four-hour-long "trading halt" on the National Stock Exchange (NSE), SEBI has directed the bourse to carry out a detailed analysis of the incident and submit its report to the regulator at the earliest. In a statement, the capital market regulator has also told NSE to explain the reasons for trading not migrating to the disaster recovery site. "SEBI has advised NSE to carry out a detailed root cause analysis of the 'trading halt' witnessed at NSE today and also explain the reasons for trading not migrating to the disaster recovery site. SEBI has asked NSE to submit its report at the earliest," it said. <div type="twitter" handle="NSEIndia" handlename="NSEIndia" image="http://pbs.twimg.com/profile_images/1027220658206306304/3DoFsMIs_normal.jpg" favoritecount="143" retweetcount="31" status="Please note the market timings for only today:F&amp;O Segment Normal Market will Re-open as follows:Normal Market op… https://t.co/oFDS7MORCV" createdat="1614162702000" id="1364523391575674881"></div> Earlier today, the stock exchange had to cancel all open orders of option and currency futures after trading was halted. However, the broader Indian markets were not impacted, as communication lines at BSE continued even as NSE faced troubles. The traders were left in a lurch about their positions a day ahead of derivative contracts' monthly expiry. Anand James, chief market strategist at Geojit Financial Services said “Expiry eve is a crucial day for expiry related trades as time decay sets in. As indices froze a little after 10 am, F&amp;O trades that reference such benchmark indices also slowed down. With hardly an hour's trade possible for such index-based traders the higher margins on F&amp;O positions may have been a double whammy.” The bourse said it depends on two telecom service providers for connectivity, and both failed simultaneously, resulting in the outage. NSE, in a statement, said, “NSE has multiple telecom links with two service providers to ensure redundancy and we have received communication from both the telecom service providers that there are issues with their links due to which there is an impact on NSE system.” SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/vested-finance-ceo-shares-his-guide-to-us-stock-investing-for-indians/articleshow/81185944.cms">Vested Finance CEO shares his guide to US stock investing for Indians</a><a href="https://www.businessinsider.in/stock-market/news/vested-finance-ceo-shares-his-guide-to-us-stock-investing-for-indians/articleshow/81185944.cms"></a> <a href="https://www.businessinsider.in/india/news/these-indian-states-now-require-you-to-carry-a-covid-19-negative-test-report-for-entry-after-rising-coronavirus-cases/slidelist/81185478.cms">These Indian states now require you to carry a COVID-19 negative test report for entry</a>

NSE resumes trading after a brief halt, stock exchanges to remain open till 5 PM

<ul><li>The <keyword id="53581" type="CITY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword> (<keyword id="6354646" type="UNKNOWN" weightage="20" keywordseo="nse">NSE</keyword>) has halted trading due to a technical glitch.</li><li>The disruption was caused due to an issue with the leased lines from telecom providers.</li><li>Social media users flooded the web with memes on the NSE shutdown.</li></ul>India’s biggest bourse National Stock Exchange (NSE) today shut down trading at 11:40 am following technical glitches. The disruption was caused due to issues in the two leased lines provided by the two telecom providers. Soon after NSE announced a halt in trading, social media users flooded and started sharing memes on Twitter. Here are some of the hilarious memes from Twitter – <div type="twitter" handle="jairamguttuvan" handlename="அஸ்வத்தாமன் சேரன்" image="http://pbs.twimg.com/profile_images/1351902222993375232/e7VKDF0S_normal.jpg" favoritecount="2" retweetcount="1" status="Exclusive picture of #NSETechnicalglitch #NSEOutage being fixed..#StockMarket #NSE https://t.co/9oy8WCUgwG" createdat="1614155895000" id="1364494839287406594"></div> <div type="twitter" handle="cssiddharth" handlename="FCS Sidharth Sharma" image="http://pbs.twimg.com/profile_images/1331913163671932930/euu3Dt77_normal.jpg" favoritecount="4" retweetcount="0" status="Traders today at NSE... #NSEOutage #nseindia #nsedown https://t.co/SW4LhxB5P1" createdat="1614155890000" id="1364494818915667973"></div> Some users were worried about their open positions, almost pleading with Nifty to close them so they don’t incur a major loss. <div type="twitter" handle="Vishalverma111" handlename="Vishal verma" image="http://pbs.twimg.com/profile_images/1200738562242514946/J18cmorQ_normal.jpg" favoritecount="0" retweetcount="0" status="NSE freezes due to technical glitch. Twitter gets best memes and jokes https://t.co/YXXRn2C8uP NSE freezes due to t… https://t.co/YAPcSF4Jq9" createdat="1614155877000" id="1364494762955452416"></div> A user shared an image from Akshay Kumar’s movie Jolly LLB 2, saying that the NSE should be ashamed of itself. <div type="twitter" handle="niftywizard" handlename="Ĵ𝔸ⓨ" image="http://pbs.twimg.com/profile_images/1264416164911996929/-EtgO2xN_normal.jpg" favoritecount="85" retweetcount="7" status="🤭😄😄#NSETechnicalglitch #Nifty https://t.co/PpujzLvQjg" createdat="1614155795000" id="1364494419408285699"></div> A user posted a tongue-in-cheek image about how bulls and bears were fighting in the morning and are now sitting together after shutdown of trading. The user has used an image of people who were recently involved in a fight in Uttar Pradesh. <div type="twitter" handle="InfoenterT" handlename="Infoenter_tainment" image="http://pbs.twimg.com/profile_images/1302331583601340417/bR9um5W3_normal.jpg" favoritecount="1" retweetcount="1" status="#nse#nseindia#NSETechnicalglitch https://t.co/HqrfOrv24O" createdat="1614157449000" id="1364501359324631040"></div> This user has shared an image from popular web series Mirzapur, saying bears have caused the technical glitch to stop the bull run. <div type="twitter" handle="GutsyThala" handlename="Gutsy Thala 🕖" image="http://pbs.twimg.com/profile_images/1357378123436752898/N-_f00xu_normal.jpg" favoritecount="2" retweetcount="0" status="Harshad bhai be like...#nseindia #NSETechnicalglitch#nsedown #NSEOutage #NSEhttps://t.co/qpsAT9GBbh https://t.co/3H6LJQnRdi" createdat="1614155834000" id="1364494583086804995"></div> <div type="twitter" handle="gunjan_potulwar" handlename="Gunjan Potulwar" image="http://pbs.twimg.com/profile_images/1268688587102584832/5XjK6OLn_normal.jpg" favoritecount="0" retweetcount="0" status="#nse #nseindia #NSEOutage #nsedown #NSETechnicalglitch #NSEscam https://t.co/4aQHce07vB" createdat="1614155822000" id="1364494532771913729"></div> A meme using Mr Bean to show the trader’s situation during NSE glitch. <div type="twitter" handle="CfaGaurav" handlename="CFA Gaurav Kumar" image="http://pbs.twimg.com/profile_images/1311566121259036672/GE_hMews_normal.jpg" favoritecount="14" retweetcount="1" status="#NSE #TECHNICALGLITCH #nseindia #nseglitch Face with tears of joySmiling face with haloSpeak-no-evil monkeyRolling… https://t.co/vCfoIEq095" createdat="1614155770000" id="1364494316966539273"></div> <div type="twitter" handle="BhadaniTejas" handlename="Tejas Bhadani" image="http://pbs.twimg.com/profile_images/1359193025176432641/Zlrl5mfL_normal.jpg" favoritecount="0" retweetcount="0" status="#stocks #nse #daytrading #StockMarketindiaTraders today, waiting for NSE to open like: https://t.co/dv8U7Og51t" createdat="1614155630000" id="1364493727008317442"></div> <div type="twitter" handle="SukhnaniSagar" handlename="Sagar Sukhnani" image="http://pbs.twimg.com/profile_images/1355738901986467842/TToPkBfO_normal.jpg" favoritecount="249" retweetcount="57" status="Nifty Banknifty Trader Right now.#Nifty #Banknifty #nseindia https://t.co/sNJgWbZSfu" createdat="1614148017000" id="1364461796568961024"></div> <div type="twitter" handle="gulshanlassi" handlename="Gulshan Laassi" image="http://pbs.twimg.com/profile_images/1104273305513742338/zAcregLN_normal.jpg" favoritecount="129" retweetcount="15" status="Intra day trader's now #nseindia https://t.co/kLDvvYhSoK" createdat="1614152045000" id="1364478690755706882"></div> Another user shows how the intraday traders are feeling because of the NSE glitch. SEE ALSO: <a href="https://www.businessinsider.in/india/news/checkout-viral-memes-and-jokes-on-social-media-around-petrol-price-in-india/articleshow/81085815.cms">The painful surge in fuel prices in India has led to some hilarious memes and videos on Twitter and Instagram</a> <a href="https://www.businessinsider.in/tech/news/google-down-memes-flood-social-media-after-gmail-youtube-and-other-google-services-outage/articleshow/79722825.cms">Google down memes flood social media after Gmail, YouTube and other Google services outage</a>

NSE memes flood social media as the stock exchange halts trading due to glitch

New Delhi, Mar 13 () Stock market witnessed a halt in trading for the first time in more than 12 years on Friday morning after benchmarks hit circuit breakers on panic selling triggered by concerns over coronavirus pandemic.The BSE and NSE stopped trading for 45 minutes starting from little past 9.20 am.To curb excessive volatility, circuit breakers are triggered on the basis of three thresholds for stock movement -- 10 per cent, 15 per cent and 20 per cent. The BSE and the NSE compute the index circuit breaker limits for 10 per cent, 15 per cent and 20 per cent levels on a daily basis based on the previous day's closing level of the index rounded off to the nearest tick size, HDFC Securities said citing regulatory framework. For 10 per cent movement before 1 pm, trading is halted for 45 minutes. The break time is 15 minutes for 10 per cent movement between 1 pm and 2.30 pm while there would be no halt in case the same happens after 2.30 pm. As per norms, trading would be halted for 1.45 hours if there is 15 per cent movement before 1 pm and 45 minutes for such movement between 1 pm and 2 pm. Trading would be stopped for the day in case the 15 per cent movement is on or after 2 pm. Finally, a 20 per cent movement at any point of time would result in complete halt of trading for the day. Geojit Financial Services Chief Investment Strategist V K Vijaykumar said the last time there was a circuit freeze and trading halt was on January 22, 2008. There was also a brief trading halt on the National Stock Exchange on October 5, 2012 due to a freak trade. Before trading was halted on Friday, nearly Rs 13 lakh worth investor wealth evaporated in less than 15 minutes of market open. "Last time, we had a circuit freeze and halt to trading was on January 22, 2008 when the Sensex had its biggest till date loss of 1,408 points. This was also the first ever four-digit crash in the Sensex. The global financial crisis and fears about a global recession had caused the crash," Vijaykumar said.HDFC Securities Head of Retail Research Deepak Jasani said halting of trade is basically "cooling down period" for investors. RAM MKJ

Bourses halt trading for first time in 12 years

Mumbai, Mar 23 () Domestic stock trading on Monday resumed after a 45-minute halt, with equity benchmark Sensex plummeting further to 3,186 points and the broader Nifty sinking below 7,900 level. Stock exchanges paused trading for 45 minutes after Sensex plunged 10 per cent, hitting its lower circuit limit, within the first hour of opening of the session. As an automatic mechanism to curb freefall in the market, trading is halted in the market for 45 minutes when an exchange plunges 10 per cent before 1 pm. Continuing its downward spiral, domestic BSE Sensex was trading 3,185.84 points, down 10.65 per cent at 26,730.12. It hit an intra-day low of 26,645.83. Similarly, the NSE Nifty cracked 923.95 points, or 10.56 per cent, to 7,821.50 after resumption of trade. Axis Bank was the top loser on Sensex, cracking up to 21 per cent, followed by IndusInd Bank, ICICI Bank, Bajaj Finance, UltraTech Cement and Kotak Bank. ANSANS

Market extends fall as trading resumes, Sensex sinks 3,186 pts

The <keyword id="35140" type="COMPANY" weightage="20" keywordseo="BSE">BSE</keyword> <keyword id="6484188" type="PERSON" weightage="20" keywordseo="sensex">Sensex</keyword> soared over 1,000 points on Wednesday afternoon after the <keyword id="396295" type="PERSON" weightage="20" keywordseo="trading-session">trading session</keyword> for the <keyword id="45369" type="CITY" weightage="20" keywordseo="equities">equities</keyword> and equities derivatives segment was extended till 5 p.m. Around 4.30 p.m., the Sensex was at 50,782.40, higher by 1,030.99 points or 2.07 per cent from the previous close of 49,751.41. It had opened at 49,763.94 and has touched an intra-day high of 50,817.10 and a low of 49,648.78 points. The Nifty50 on the <keyword id="53581" type="COMPANY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword> was at 14,991.60, higher by 283.80 points or 1.93 per cent from its previous close. The BSE trading session was extended as the trading in <keyword id="6354646" type="COMPANY" weightage="20" keywordseo="nse">NSE</keyword> resumed at 3.45 p.m. till 5 p.m. Trading in the NSE came to a halt after a glitch resulted in stopping of rate updates at around 10.08 a.m. Trading in the futures and options segment was closed at 11.40 a.m. and the cash market was closed at 11.43 p.m. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/dassault-aviation-has-an-india-it-services-unit-offering-defence-msmes-a-digital-trial-room-where-they-can-test-their-products-to-bag-more-contracts/articleshow/81183313.cms">INTERVIEW: Dassault Aviation has an India IT services unit offering defence MSMEs a digital ‘trial room’ where they can test their products to bag more contracts</a> <a href="https://www.businessinsider.in/india/news/these-indian-states-now-require-you-to-carry-a-covid-19-negative-test-report-for-entry-after-rising-coronavirus-cases/slidelist/81185478.cms">These Indian states now require you to carry a COVID-19 negative test report for entry</a> <a href="https://www.businessinsider.in/stock-market/news/vested-finance-ceo-shares-his-guide-to-us-stock-investing-for-indians/articleshow/81185944.cms">Vested Finance CEO shares his guide to US stock investing for Indians</a> <a href="https://www.businessinsider.in/careers/news/global-consulting-firm-zs-says-it-plans-to-hire-3000-employees-in-india-this-year/articleshow/81188160.cms">Global consulting firm ZS says it plans to hire 3000 employees in India this year</a>

Sensex rallies over 1000 points after extended trading session

Mumbai, Mar 13 () Domestic stock trading on Friday resumed after a 45-minute halt, with equity benchmark Sensex plummeting further to 3,389 points and the broader Nifty sinking below 8,600 level. Stock exchanges paused trading for 45 minutes after both indices plunged over 10 per cent, hitting their lower circuit limits, within the first 15 minutes of opening of the session. Continuing its downward spiral, domestic BSE Sensex was trading 3,380.59 points, down 10.31 per cent at 29,397.55. It hit an intra-day low of 29,388.97, falling up to 3,389.17 points. Similarly, the NSE Nifty cracked 1,036.20 points, or 10.80 per cent, to 8,553.95 after resumption of trade. Tech Mahindra was the top loser on Sensex, cracking up to 15 per cent, followed by Axis Bank, IndusInd Bank, HCL Tech, Kotak Bank and TCS. ANSANS

Trading resumes on stock exchanges; Sensex tanks over 3,300 pts

Mumbai, Mar 13 () Markets took investors on a gut-churning ride on Friday, with trading being halted for the first time in 12 years as benchmarks plunged over 10 per cent in opening trade, before staging an emphatic comeback powered by banking, finance and energy stocks. The BSE and NSE suspended trading for 45 minutes a little past 9.20 am after the Sensex and Nifty plunged in tandem with global markets as the coronavirus pandemic triggered recession fears. However, domestic indices surged after trading resumed as investors snapped up recently-battered stocks available at attractive valuations. Expectations of stimulus measures by the US and other countries also buoyed sentiment, analysts said. Recovering over 5,380 points from its intra-day low of 29,388.97, the BSE Sensex ended 1,325.34 points or 4.04 per cent higher at 34,103.48. 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. SBI was the top gainer, rallying 13.87 per cent, followed by Tata Steel, HDFC, Sun Pharma, Bharti Airtel, Bajaj Finance and ICICI Bank. On the other hand, Nestle India, Asian Paints, HUL, Hero MotoCorp and HCL Tech shed up to 4.12 per cent. During the holiday-shortened week, the Sensex plummeted 3,473.14 points or 9.24 per cent, while the Nifty lost 1,034.25 points or 9.41 per cent. The benchmarks posted their biggest ever one-day falls in two sessions this week (March 9 and 12). Investor wealth worth around Rs 15 lakh crore has been wiped off in the past four sessions. "This week will go down in history as one of the worst weeks for global markets. Consider this, the US market had declined 18 per cent in just the first four days of trading. "Markets have been battered by the potential economic impact on account of various preventive travel measures by major countries. FPIs sold equities worth USD 2.3 billion over the past five trading sessions while DIIs bought USD 1.8 billion worth of equities in the same period," said Sanjeev Zarbade, VP PCG Research, Kotak Securities. All sectoral indices ended with gains, with BSE telecom, metal, oil and gas, finance, banking and energy indices rallying up to 6.39 per cent. Broader midcap and smallcap indices too settled on a positive note. As per norms, trading is halted for 1.45 hours if there is 15 per cent movement before 1 pm and 45 minutes for such movement between 1 pm and 2 pm. Geojit Financial Services Chief Investment Strategist V K Vijaykumar said the last time there was a circuit freeze and trading halt was on January 22, 2008. There was also a brief trading halt on the National Stock Exchange on October 5, 2012 due to a freak trade. Sebi on Friday said the regulator and stock exchanges are prepared to "take any action" as required to deal with market volatility. Chief Economic Advisor Krishnamurthy Subramanian also said the government and the RBI will take all necessary steps to quell the "fear sentiment" created due to the coronavirus outbreak. Meanwhile, official data released after market hours on Thursday showed that India's factory output rose marginally in January, while retail inflation eased to a two-month low in February, paving the way for RBI to cut interest rate to boost growth. In rest of Asia, Shanghai slipped 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. Around 1,30,000 cases of Covid-19 have been recorded in 116 countries and territories, killing at least 4,900 people. ANS ABMABM

Markets test investors' nerves with wild swings;Sensex ends 1,325 pts up after hitting lower circuit

New Delhi, Mar 13 () Finance Minister Nirmala Sitharaman on Friday said the government and the Reserve Bank are closely monitoring the stock market, which is facing intense volatility amid mounting coronavirus fears.Together with the RBI, the government is closely monitoring markets, she said on the situation arising out of a panic spread of coronavirus pandemic.After being battered in the early session, the BSE Sensex spurted 1,325.34 points and the NSE Nifty rose 365.05 points to settle the day at 9,955.20. Indian market saw its biggest intra-day selloff in early session, wiping nearly Rs 12 lakh crore off investor wealth in less than 20 minutes of opening trade.As coronavirus-led recession fears triggered panic selling globally, both Sensex and Nifty plunged over 10 per cent in the opening session, hitting their lower circuit levels.Stock exchanges halted trading for 45 minutes. Normal trading resumed at around 1030 hours.The last circuit freeze happened in January 2008. NKD KPM MJH MKJMKJ

Govt, RBI closely monitoring markets: FM

<ul><li><keyword id="4761491" type="PERSON" weightage="20" keywordseo="TCS-Share-Price">TCS share price</keyword> dipped to ₹1506.05 when markets opened today morning.</li><li>The overall market crash was so massive that it triggered the circuit breaker limit halting trade for 45 minutes.</li><li>This is the first time in seven years that TCS stock has dipped below ₹1600. The last time was in July 2013. </li><li>Over the last three months, TCS' value has dipped by ₹2 lakh crore ($27 billion). </li></ul>The stock of Tata Consultancy Services (TCS) hit a seven-year low as markets opened to a massive crash today morning. The company's share price dipped to ₹1506 as a massive global selloff affected Indian stock markets too. TCS' value has gone down from ₹8.3 lakh crore in December to ₹6.3 lakh crore in the last three months — a dip of 24.3% resulting in market cap loss of ₹2 lakh crore ($27 billion). 
 
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 The last time the company's share price went below ₹1600 was in July 2013. IT stocks in India were already bearish amid a global economic slowdown. Things took a turn for the worse as India locked down borders and suspended most active visas. TCS wasn't the only stock to crash in earning trading hours. In what is being called the Coronacrash, Asian markets — including Indonesia, South Korea, Thailand and the Philippines — halted trading as stocks plummeted the minute markets opened. In India, the <a href="https://www.businessinsider.in/india/news/trading-halted-for-45-mins-as-sensex-hits-lower-circuit-for-the-first-time-in-12-years/articleshow/74605048.cms">circuit breaker limit</a> was used for the first time in 12 years. It was triggered after Nifty50 crashed 10%. Trading was suspended for 45 minutes before markets reopened. However, TCS continues to be volatile. Amidst this melee, TCS temporarily recouped its position as India's most valued company back from <a href="https://www.businessinsider.in/business/news/heres-how-mukesh-ambani-lost-5-8-billion-in-a-day/articleshow/74572111.cms">Reliance Industries</a> which faced the double whammy of coronavirus and crude oil price crash yesterday. However, it was back to being in second place after markets closed yesterday, March 13. Even ₹4,500 crore couldn't fight the effects of the coronavirus The massive dip in TCS value comes after the company met on March 11 and declared an interim dividend of ₹12 per share — a total payout of ₹4,503 crore. In fact, the announcement of dividends did nothing to slow the stock's downward trajectory this week. 
 
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 It's not just stocks in India but markets all over the world that continue to remain volatile amid the coronavirus outbreak. The New York Stock Exchange (<a href="https://www.businessinsider.in/stock-market/news/the-new-york-stock-exchange-is-preparing-to-close-its-trading-floor-as-coronavirus-sweeps-through-new-york/articleshow/74599617.cms">NYSE</a>) may close its trading floor in the coming week to keep the Covid-19 virus from spreading. The chaos in overseas markets has an undeniable effect on IT stocks. Any further upheaval in US markets, like closing down the trading floor, could have a negative impact on IT stocks like TCS in India. The prolonged pandemic will have an effect on new client acquisitions and Kotak Securities corrected the revenue of IT companies by 2-4%. “In addition to and partly as a consequence of Covid-19, client health has started deteriorating across many verticals. Specifically, sharp rate cuts impact the banking vertical. We expected moderate improvement in spends among US banking clients at the beginning of the year. However, subsequent turn of events has all but eliminated this possibility,” the report said. TCS is only one of 783 stocks on the National Stock Exchange (NSE) to have hit its 52-week low this week. Yesterday, NSE and BSE saw the largest single-day fall of over 2,919 points since the 2008 financial crisis. See also: <a href="https://www.businessinsider.in/science/health/news/coronavirus-recovery-rate-at-54-as-doctors-race-to-find-a-cure/articleshow/74589618.cms">Coronavirus recovery rate at 54% as doctors race to find a cure</a> <a href="https://www.businessinsider.in/india/news/coronavirus-travel-restrictions-affect-everything-from-the-ipl-to-nris-on-vacation/articleshow/74591642.cms">Coronavirus travel restrictions affect everything from the IPL to NRIs on vacation</a> <a href="https://www.businessinsider.in/india/news/coronavirus-rattles-the-supply-chain-in-indias-largest-electronics-market-hitting-mobile-accessories-more-than-new-phones/articleshow/74484914.cms">Coronavirus rattles the supply chain in India’s largest electronics market, hitting mobile accessories more than new phones</a>

'Corona crash' wipes over ₹2 lakh crore from TCS share value in just 3 months

Mumbai, Mar 13 () Equity benchmark Sensex rebounded over 4,400 points from the day's lows and the broader Nifty reclaimed the 9,800 level in afternoon session on Friday as investors scrambled to buy stocks at hammered valuations. Recovering from an intra-day low of 29,388.97, the BSE-share index was trading 949.11 points or 2.90 per cent higher at 33,727.25 at 1240 hours. Similarly, the NSE Nifty was trading 216.45 points, or 2.26 per cent, up at 9,806.60. In opening session, both indices plunged over 10 per cent, hitting their lower circuit levels, as new coronavirus-led recession fears triggered panic selling in the market. Stock exchanges had halted trading for 45 minutes within 15 minutes for market opening. Normal trading resumed around 1030 hours. "Last time we had a circuit freeze and halt to trading on January 22, 2008, when the Sensex had its biggest loss (till then) of 1,408 points," VK Vijaykumar, Chief Investment Strategist at Geojit Financial Services. SBI was the biggest gainer in the Sensex pack, rallying up to 12 per cent, followed by Sun Pharma, HDFC, Tata Steel, Bajaj Finance, Maruti, ICICI Bank and Bharti Airtel. On the other hand, Nestle India, Asian Paints, TechM, Hero MotoCorp and ONGC were trading up to 4 per cent lower. According to market participants, volatility heightened in global markets as benchmarks world over went into panic mode, insinuating a manic selloff. Mild recovery was seen in other Asian bourses too with Shanghai down 1.23 per cent, Hong Kong 2.60 per cent, Seoul 6.08 per cent and Tokyo 3.43 per cent. The rupee too witnessed a sharp recovery, appreciating 36 paise at 73.92 per US dollar (intra-day). Brent crude oil futures surged 3.25 per cent to USD 34.42 per barrel. Around 130,000 cases of the new coronavirus or COVID-19 have been recorded in 116 countries and territories, killing at least 4,900 people. The total number of confirmed cases in India stood at 75, including 17 foreigners, as per health ministry officials. ANSANS

Sensex rebound over 4,400 pts from day's low; Nifty above 9,800

New Delhi, Mar 19 () Shares of Yes Bank on Thursday halted its four-session rally and plunged over 29 per cent after the company said its single largest promoter Madhu Kapur has pledged an additional 25 lakh share of her family's shareholding in the bank. The scrip plummeted 25.74 per cent to Rs 45.15 at the BSE. On the NSE, it cracked 29.19 per cent to Rs 42.80. In the last four trading days, the company's scrip had risen a whopping 142 per cent after Moody's upgraded the company's ratings and on announcement of a restructuring plan. Yes Bank, which came out of the RBI moratorium on Wednesday evening, said its single largest promoter Madhu Kapur, the widow of its founder chairman Ashok Kapur, has pledged an additional 0.098 per cent or 25 lakh share of her family's shareholding of 6.87 per cent in the bank. In an exchange filing last evening, the bank said Kapur has only 0.117 per cent or 3 lakh shares which are not pledged now. SUM DRRDRR

Yes Bank halts 4-session rally; shares tumble over 29 pc

<ul><li><keyword id="620690" type="PERSON" weightage="20" keywordseo="Infosys-share-price">Infosys share price</keyword> fell by over 25% since last week. </li><li>The IT stock has recovered after hitting a 52-week low of ₹56.80 when markets opened today morning. </li><li>However, the marginal uptake is not nearly enough to make up of the larger nose dive of the stock price. </li></ul>Indian IT giant Infosys recovered all of its early morning loss when the markets opened after a <a href="https://www.businessinsider.in/india/news/trading-halted-for-45-mins-as-sensex-hits-lower-circuit-for-the-first-time-in-12-years/articleshow/74605048.cms">45 minute</a> trading halt. Ensuing the 52-week low of ₹568.8 in the first few minutes of the trade, the stock started to climb back up during afternoon trade crossing the previous day’s close, a little before noon. In fact, the Sensex too recovered by 1,100 points as trading resumed. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
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 However, the marginal recovery is nowhere near what’s needed to make up for the nose-dive Infosys’ stock has taken since last week. After hitting ₹752 on March 5, Infosys’ share price has consistently been falling — plummeting by over 25%. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
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 Infosys isn’t alone. Indian markets followed a global crash to open <a href="https://www.businessinsider.in/business/news/sensex-nifty-plummet-over-10-pc-in-manic-selloff-trading-halts-for-45-mins/articleshow/74605290.cms">10% down today morning</a> and hit the lower circuit. This suspended trade activity for the next 45 minutes. In what is being called the build-up to a ‘<a href="https://www.businessinsider.in/stock-market/news/tcs-loses-over-2-lakh-crore-in-three-months-as-stock-markets-head-for-a-coronacrash/articleshow/74607654.cms">coronacrash</a>’, Asian markets — including Indonesia, South Korea, Thailand, and the Philippines — were also forced to halt trading today morning. Meanwhile, Infosys competitor Tata Consultancy Services (TCS) stock dipped below ₹1,600 for the first time since July 2013 marking a <a href="https://www.businessinsider.in/stock-market/news/tcs-loses-over-2-lakh-crore-in-three-months-as-stock-markets-head-for-a-coronacrash/articleshow/74607654.cms">seven-year low for the IT giant.</a> Markets are heading towards a massive <keyword id="8905112" type="UNKNOWN" weightage="20" keywordseo="coronacrash">coronacrash</keyword> IT stocks as whole have been trading in the red since February 28, when investors lost <a href="https://www.businessinsider.in/stock-market/news/indian-investors-lose-5-lakh-as-the-coronavirus-sweeps-over-the-stock-market/articleshow/74381404.cms">₹5 lakh crore</a> to the market in massive selloffs right before the weekend. Yesterday, March 12, Nifty plunged by 2,000 points wiping out another <a href="https://www.businessinsider.in/business/news/market-mayhem-wipes-off-over-rs-8-lakh-crore-investor-wealth/articleshow/74588202.cms">₹8 lakh crore</a> of investor wealth. It was the sharpest single-day fall since the 2008 financial crisis. The New York Stock Exchange (NYSE) is considering closing off the trading floor in the coming week to keep the coronavirus pandemic from spreading. The IT sector, which was already bearing the burden of the global economic slowdown, is in for a rough ride going forward. The prolonged pandemic will impact new client acquisitions, and as a result, Kotak Securities has corrected the revenue expectation from IT companies by 2-4%. “We expected moderate improvement in spends among US banking clients at the beginning of the year. However, the subsequent turn of events has all but eliminated this possibility,” said the report. Infosys is only one of 783 stocks on the NSE to have hit its 52-week low this week, along with TCS. See also: <a href="https://www.businessinsider.in/stock-market/news/tcs-loses-over-2-lakh-crore-in-three-months-as-stock-markets-head-for-a-coronacrash/articleshow/74607654.cms">TCS loses over ₹2 lakh crore in three months as stock markets head for a 'coronacrash'</a> <a href="https://www.businessinsider.in/india/news/coronavirus-travel-restrictions-affect-everything-from-the-ipl-to-nris-on-vacation/articleshow/74591642.cms">Coronavirus travel restrictions affect everything from the IPL to NRIs on vacation</a> <a href="https://www.businessinsider.in/science/health/news/coronavirus-recovery-rate-at-54-as-doctors-race-to-find-a-cure/articleshow/74589618.cms">Coronavirus recovery rate at 54% as doctors race to find a cure</a>

Infosys recovery from 52-week low isn't enough to stall coronavirus bear run

Mumbai, Mar 13 () The Indian rupee fell by another 16 paise to 74.44 against the US dollar as financial markets around the globe continued to feel jitters of coronavirus pandemic. A day earlier, the Indian currency had tumbled by 60 paise to close at a new 17-month low of 74.28 amid coronavirus pandemic fanning global economic recession fears. Meanwhile, the global crude oil benchmark Brent Futures fell 0.87 per cent to trade at USD 32.93 per barrel. A sense of anxiety among investors has developed as they see the global economy is plunging into a deep crisis due to coronavirus pandemic that has killed about 5,000 and sickened lakhs of people around the globe, analysts said. Amid the heavy rush for the US dollar in forex markets, the Reserve Bank announced liquidity measures such as buy-sell swap of USD 2 billion to increase dollar availability with banks and ease pressure on rupee. In the current month so far, FPIs have pulled out a whopping Rs 33,163 crore (USD 4.46 billion) from Indian capital markets. Meanwhile, the Indian equity market saw another tumultuous opening session for a second day on Friday, with the benchmark Sensex plunging over 3,000 points to trade below the psychological 30,000 level; while the NSE gauge Nifty crashed nearly 1,000 points to dip below the 9,000 mark. Indian bourses halted trading for 45 minutes during the early session after both the benchmark indices Sensex and Nifty hit their lower circuit limits. MKJ MKJ

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India’s largest stock exchange halts trading after data glitches stop Nifty50 and Bank Nifty from updating

Navdeep Yadav