(Juhi Aishwary, Journalist): The announcements of Reserve Bank Governor Shaktikanta Das did not go down well with the stock market. Stock markets collapsed after the picture of the damage caused to the economy caused by the coronavirus epidemic. At around 10:45 am, the Sensex fell by nearly 400 points to near 30500, while the Nifty dropped by more than 100 points and went below the 9,000 level.
1:40 pm: Stock market has slipped following RBI’s credit policy, Nifty has come down to 9000. Bank stocks are getting beaten the most. Nifty Bank has fallen more than 3 percent. NBFCs are also witnessing a steep decline due to increasing moratorium. Metal has fallen 1.77% and Auto 1.02%. The Nifty is getting support from the IT, media, and pharma sectors. The Sensex has slipped 368.68 points to the level of 30,564.22, while the Nifty is trading at 8,998.85, down 107.40 (-1.18%) points.
Earlier the stock market opened with a downward trend today. The 30-share sensitive index Sensex of the Bombay Stock Exchange opened 110 points lower at 30,822.78 today. It closed at 30,932 on Thursday. At the same time, the Nifty also started today’s trading day with a red mark.
After the announcement of RBI
Let us tell you that there was a decline in markets across the world on Thursday. The US market Dow Jones closed down 101.78 points at 24,474.10. At the same time, Nasdaq closed down 90.89 points at 9,284.88, down 0.97 percent. The S&P closed down 23.10 points at 2,948.51. China’s Shanghai Composite closed down 28.86 points at 2,839.06, down 1.01 percent.
BSE reported a net loss of Rs 1.94 crores in the fourth quarter
The country’s major stock market, BSE, incurred a net loss of Rs 1.94 crores in the fourth quarter of the last financial year 2019-20. This resulted in a net profit of Rs 51.86 crores in the same quarter of the previous financial year. In a communication sent to NSE, BSE said that its total income during the January to March 2020 quarter declined to Rs 155.79 crores, from Rs 182.08 crores in the same quarter of the previous financial year.
The board of directors of BSE has suggested a final dividend of Rs 17 per equity share. For this, the approval of shareholders will be taken at the Annual General Meeting. For the entire financial year 2019-20, the exchange has earned a net profit of Rs 120.61 crores as against Rs 199.28 crores in the previous financial year. The total income of the exchange declined to Rs 630 crores during the financial year, from Rs 687.44 crores in the previous financial year.
KKR to invest Rs 11,367 crores in Jio platforms
Reliance Industries on Friday announced the sale of a 2.32 percent stake in Jio Platforms to American company KKR for Rs 11,367 crores. This is the fifth major deal done by Mukesh Ambani’s company in the last one month.