The Top 5 Stock Market News For Today

Stock markets serve to be an important medium for earning a substantial amount of returns on investment. Listed companies can sell their shares upon the primary and secondary stock market which individuals can invest in for earning returns on the same. There are various moods using which an individual can invest in stock market securities. However, it is necessary to equip oneself with the necessary knowledge and skills to make informed investment decisions. It is very important for individuals to keep themselves informed about the latest market news and stock market fluctuations to make quick buying and selling decisions.

 There are various websites using which one can get real-time stock market information. Business standard is one such website that provides authentic and real-time stock market-related information and news.

One can get the latest stock market-related information and news upon the business standard website. Top five today’s current news which are making headlines are listed below. One can make informed decisions related to a stock market investment to reading such headlines and important for making the best decisions:

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  • Heavy pressure on Indian stock market due to coronavirus:

Indian stock markets and stock markets around the world are going through a tough phase due to the advent of coronavirus. The outbreak of the deadly disease has led to the downfall of major stock market prices which is a cause of worry around the world. Indian benchmark indices suffered a 2% downfall in major stock prices causing damage and losses to stock market investors and companies. The market closed at 38,409 points on account of slight recovery at the end of the day. Stock market prices of at least 17 companies declined leading to a wave of worry and concern among Indian stock market investors and companies. Moreover, NIFTY too suffered great losses with at least 22 stock prices declined On account of Coronavirus outbreak. Companies like metal, aviation and banks were affected the most in India. 

The stock market in China and Japan are too going through a phase of major downfall. The Asian market is hit on account of coronavirus attack with other factors compounding the effect like an emergency rate cut by the US Federal Reserve. Markets all over the world are going through a tough phase where some are showing consistent results on the positive side while others are receiving the worst side effects of coronavirus attack.

  • Oversubscription of SBI cards IPO:

One of the leading government-owned banks i.e. SBI card and payment services going through a tough phase listed itself for subscription on the stock market. SBI card IPO has received a double amount of subscription as compared to its initial issue size. The bid size has been oversubscribed by 15 crores shares with bid price starting at ₹ 750 per share. The company has till date raised around ₹2769 crores through its IPO and is expecting to raise more in the following days. The company is closing its IPO on Thursday for all types of investors.

 

  • A downtrend in Public sector banks stock prices:

Indian public sector banks are going through a tough phase with its stock market prices at a recording 10 year low. PSU bank index, an indicator of the overall health of public banks and their stock market prices, is seeing a downward trend on account slow economic growth and weaker Indian rupee. PSU bank index received a 2 percent decline, standing at 1,841 points, proving to be a signal for concern and impending problems. Punjab National Bank, Canara Bank, Union Bank of India, Allahabad Bank, Indian bank and various others are major loss-making public sector banks that have received at least a 30 percent decline in stock market prices. Slow economic growth with concern over the further decrease in performance has to lead to such losses and decline. With the loan sector under a great amount of stress, bank credit growth is nowhere to receive any relief. The decrease in the number of loans being offered by 5 percent of public sector banks is going through their toughest phase since 2009. Policy reforms and a boost in credit growth of public sectors are the need of the hour. Indian Government is taking necessary steps in such regard. While on the other hand, private sector banks are seeing positive results with an upward trending in stock market prices and profits.

  • The great decline in YES Bank share prices:

YES Bank is going through a tough phase on account of a decline in its stock market prices. The stock of YES bank is being traded at a record low of Rs.29.5 down by at least 6 percent. Economic slowdown with great losses and low investment inflow are major reasons for such a steep decline in its Stock market prices. An increase in the number of loans turned bad and non-performing assets are also major reasons behind the decline in its stock market prices. Though the company is expecting investment inflow in a few months however its performance says otherwise. To compound their problems, ICRA has reduced the credit rating of the bank on account of great losses and NPAs.

  • An upsurge in Stock prices of pharmaceutical companies:

Pharmaceutical companies have received an upsurge in their stock market prices with shares of major companies being traded at higher rates and receiving an upward trend. Major companies like Sun pharmaceutical Industries, Cipla and Shilpa medicare have received an upward trend of 3 to 6 percent in stock market prices. Pharma index was the sole gainer with Sun Pharma receiving major benefits and an upward trend.

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