IntradayTrade dot Net dot IN
Market Report

Monday, 23-Mar-2020


  • The 30-share Sensex tumbled 13.15 per cent or 3,934.72 points to close at 25,981.24, while the 50-share Nifty also posted its worst one-day fall since inception by dropping 12.98 per cent or 1,135.20 points to close at 7,610.25 today. All 3 Sensex stocks and all 5 Nifty stocks closed in the red today. The carnage was across the board. BSE MidCap and BSE SmallCap indices eroded 12.83 per cent and 12.27 per cent respectively. Most sectoral indices posted a double-digit percentage decline. Trading was halted for 45 minutes in the morning as a 10 per cent Sensex fall triggered circuit limit.

  • Benchmark equity indexes nosedived and posted its biggest-ever loss on Monday as they tumbled to lowest level since 2016, as the rout in global markets continued and India grappled with the fast-spreading coronavirus pandemic. Financial markets around the world took another hammering on Monday as a rising tide of national coronavirus lockdowns threatened to overwhelm policymakers' frantic efforts to cushion what is likely to be a deep global recession, Reuters reported. European stocks dived 4.5 per cent as they reopened.

  • Nifty started the week on a negative note, as we witnessed a huge gap-down opening on the back of a sell-off in global bourses and weakening of sentiments due to the lockdown being enforced in various states. Nifty hit the 10% lower circuit for the second time in last seven sessions. But unlike the previous instance, the index didn't recover after the circuit and continued its down-move towards the 7,600 level. Despite Sebi measures to curb volatility and short selling, the benchmark index ended the session with a huge loss of around 13%, which is highest-ever daily loss in its history. The index formed a large bearish candle on the daily chart, signalling no respite for the bulls. As all critical supports have been breached now, Nifty may initially head towards the 7,340 and 7,500 levels.

NIFTY 3-Month

(Data/Charts courtesy NSEI/Google/Yahoo!/iCharts/The Economic Times)