Market (Page 69)

Shares of aviation companies were under pressure on Wednesday, falling upto 8 per cent on the BSE, on concerns that the industry may face risks from the coronavirus outbreak.


Among individual stocks, SpiceJet slipped 8 per cent to Rs 68.60, its lowest level since October 11, 2018 on the BSE. Thus far in calendar year 2020 (CY20), the stock has tanked 39 per cent, as compared to 6 per cent decline in the S&P BSE Sensex in the same period.


Shares of InterGlobe Aviation, parent of the country’s largest airline IndiGo, dipped 4.6 per cent to Rs 1,173 on the BSE. The stock was trading close to its 52-week low of Rs 1,119, touched on March 5, 2019. It has fallen 12 per cent thus far in CY20.


The sudden and rapidly spreading coronavirus respiratory disease is centered in China but has spread internationally, drawing


rose nearly 1 per cent on Monday after suffering its largest daily fall in nearly seven years, as expectations grew for policy easing by the U.S. Federal Reserve and other central banks to help boost the coronavirus-hit global economy.


Spot was up 0.4 per cent at $1,591.84 an ounce by 1:40 p.m. EST (1840 GMT), and U.S. futures settled 1.8 per cent higher at $1,594.80.=>



On Friday, the precious metals market was routed by traders liquidating their positions amidst a coronavirus-led selloff across global markets, with gold diving as much as 4.5 per cent.


“We are seeing a little bit of recovery from late last week, (when) there was lot of selling to generate liquidity and cover margins,” said Ryan McKay, a commodity strategist at TD Securities.


“There are lot of expectations on


Shares of Affle (India) climbed as much as 8.6 per cent to Rs 1,949 apiece on the BSE on Monday after the company announced it has signed a definitive agreement to acquire Spain-headquartered Mediasmart, a self-serve mobile programmatic and proximity marketing platform.


At 09:34 am, the stock was trading over 5 per cent higher at Rs 1,886 on the BSE. In comparison, the benchmark S&P BSE Sensex was trading over 1 per cent or 479 points higher at 38,753 levels.



The acquisition of Mediasmart carries a great strategic merit as it strengthens Affle’s cost per converted user (CPCU) based platform and business model for omnichannel advertisers, and also enables Affle to expand into newer developing like Latin America and in Mediasmart’s strong hold like Europe and US, the company said in its press release. READ MORE


“We


are likely to remain under pressure in the short term with a possible decline of 2-3 per cent as investors look to cover margin calls in other asset classes, such as equities, metals, energy, and currencies, amid a global market sell-off triggered by the spread of


Most global stock suffered their worst week since the financial crisis of 2008. The Sensex ended the week with a 7 per cent loss, with about Rs 12 trillion of investor wealth being wiped off. On Friday, the Sensex plunged 1,448 points, or 3.6 per cent, prompting gold and silver investors to cash out to cover the losses in other assets classes.



Navneet Damani, vice-president, Motilal Oswal Financial Services, forecasts to decline by about Rs 1,000 per 10 gm to Rs 40,400 next week.


Gold futures for


and Payment Services (SBI Cards), a subsidiary of State Bank of India (SBI), has allotted nearly Rs 2,800 crore worth of shares to anchor investors. These are institutional investors that commit to subscribe to the shares in the initial public offering (IPO) ahead of its opening. Many other investors look at the demand and quality of the anchor book to decide whether to apply in the IPO.


A total of 36.7 million shares have been allotted to 75 anchor investors at Rs 755 apiece, the top-end of the IPO price band. Some of the investors that have been allotted include sovereign funds belonging to the Singapore and Kuwait government, Fidelity, Nomura, BNP Paribas, GMO and Blackrock.



A total of 12 mutual fund houses also have got allotment for 48 schemes. Some of the fund houses include ICICI Prudential MF,


Fears of (COVID-19) getting a tighter grip over most countries has triggered a panic across financial over the past few weeks. Most analysts have trimmed their growth forecast for the global economy, financial have been rattled by the developments.


Global share prices headed for the worst week since global financial crisis (GFC) in 2008 as investors braced for the to become a pandemic and rapidly spread around the world. Hopes that the epidemic that started in China would be over in a few months and economic activity would return to normal have been shattered, as new infections reported around the world now surpass those in China. READ MORE HERE



Here’s how leading brokerages have assessed the impact of this health scare on economy and


Nomura


The overall evidence points to a