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D-Street Buzz: Metal stocks tumble led by JSW Steel; YES Bank up 2%, VIX jumps

About 504 shares have advanced, 1470 shares declined, and 94 shares are unchanged.

February 27, 2020 / 11:34 AM IST

Coronavirus outbreak is fast developing into a pandemic and that has unnerved investors as the Indian stock market have fallen for the fifth consecutive day.

Sensex is down 382.37 points or 0.96 percent at 39506.59, and the Nifty shed 115 points and is trading at 11563.50.

All sectoral indices are trading in the red with the metal index falling the most, down over 2 percent. The top losers included JSW Steel after Fitch revised the outlook on the company to 'negative' from 'stable'.

The other losers included Jindal Steel & Power, NALCO, Tata Steel, SAIL, Ratnamani Metals, NMDC and Hindustan Copper.

Realty stocks are also under pressure as stocks like Godrej Properties, Prestige Estates, Indiabulls Real Estate and Phoenix Mills falling 3-4 percent each. The other losers included DLF, Sobha and Sunteck Realty.

Nifty Media shed over 2 percent with Jagaran Prakashan falling over 5 percent followed by PVR, Sun TV Network, Zee Media, Inox Leisure, Hathway Cable, Dish TV and Network18.

India VIX spiked 3.12 percent and was trading at 18.83 level.

The top gainers from Nifty are YES Bank, Titan Company, Sun Pharma, Kotak Mahindra Bank and Asian Paints while the top losers included JSW Steel, ONGC, Wipro, Cipla and Mahindra & Mahindra.

The most active stocks included State Bank of India, HDFC Bank, Reliance Industries, Indiabulls Housing Finance and ICICI Bank.

48 stocks hit new 52-week high on BSE including White Organic Retail, Fairchem Speciality, Suven Life Sciences, Aarti Drugs, IOL Chemicals, Neogen Chemicals and Uttam Value Steel among others.

243 stocks hit 52-week low on BSE including Future Consumer, Mahindra CIE Automotive, Gujarat Pipavav, GE T&D India, Finolex Cables, Oil India, Tata Power, NBCC, Engineers India, BHEL, LIC Housing Finance, PNB and Syndicate Bank among others.

About 504 shares have advanced, 1470 shares declined, and 94 shares are unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

Sandip Das
first published: Feb 27, 2020 11:34 am