D-Street catches HMPV flu

Benchmark equity indices recorded their biggest single-day loss in three months on Monday, as a barrage of bad news hits investor sentiment. Concerns over the human metapneumovirus (HMPV), disappointing Q3 business updates from banks and uncertainties surrounding new US economic policies were the key headwinds. At the same time, the fall in ITC stock due to the hotel business spinoff contributed as much as 25% to the Sensex’s decline.

As a result, both the Sensex and Nifty closed down by 1.59% (1,258.12 points) and 1.62% (388.70 points), respectively. With Monday’s fall, the benchmark indices have fallen 2.5% in the past two trading sessions, wiping out the 2.3% gains in the first two days of the calendar year.

Also ReadThese 5 stocks are sharply up in a falling market, here’s why…

Even the broader markets suffered, with the BSE Midcap falling 2.44% and the BSE Smallcap declining 3.17%. The NSE’s volatility index, India VIX, surged 15.58%, the highest increase in the past five months. The broad-based sell-off led to an erosion of nearly `11 lakh crore in investor wealth.

While foreign portfolio investors (FPIs) continued their selling spree, offloading equities worth Rs 2,575.06 crore, domestic institutional investors (DIIs) provided some support, purchasing shares worth Rs 5,749.65 crore, according to provisional exchange data.

Headwinds for markets at the start of the year include higher US 10-year yields and a stronger dollar, the potential imposition of additional US tariffs on Asia-Pacific economies, and elevated economic policy uncertainty and geopolitical risk, Goldman Sachs strategists said in a note while trimming the MSCI Asia Pacific ex-Japan index’s target to 620 from 630, as per a Bloomberg report.

“The primary catalyst for the sharp sell-off in the domestic market appears to be concerns over HMPV,” said Vinod Nair, head of Research at Geojit Financial Services.

Among Asian markets, Japan and Indonesia were the major losers, falling up to 1.47%. Losses in Hong Kong and China were comparatively modest at 0.36% and 0.14%, respectively. On the other hand, Taiwan (+2.79%), South Korea (+1.91%), and Singapore (+0.53%) bucked the trend and posted gains.

Market breadth was negative, with more than five losers for every gainer. Broader indices underperformed the benchmarks.

All sectoral indices ended in the red. Utilities, power, PSU banks,

 » Read More

Related Articles

Dividends payout alert: MSTC, RailTel, ADC India set April 2 deadline, over Rs 30 up for grabs

Who doesn’t love some extra cash boost? If you are an investor looking for dividend opportunities, three companies – ADC India Communications, MSTC, and RailTel Corporation have set today, April 2, as the record date for their interim payouts. With a combined total of Rs 30.5 per share up for grabs, here is a detailed

Bharat Electronics Share Price Today Highlights: Bharat Electronics on the radar

Bharat Electronics Share Price Today Highlights: The Bharat Electronics share is in news and the counter closed trade on 01 Apr, 2025 at Rs 292.15. The shares touched intraday high of Rs 305.8 in the last trading session while the intraday low was at Rs 290. The company’s market capitalization, as on 01 Apr, 2025

Swiggy Share Price Today Highlights: Swiggy on the radar

Swiggy Share Price Today Highlights: The Swiggy share is in news and the counter closed trade on 01 Apr, 2025 at Rs 331.55. The shares touched intraday high of Rs 339.3 in the last trading session while the intraday low was at Rs 325.6. The company’s market capitalization, as on 01 Apr, 2025, is at

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

Dividends payout alert: MSTC, RailTel, ADC India set April 2 deadline, over Rs 30 up for grabs

Who doesn’t love some extra cash boost? If you are an investor looking for dividend opportunities, three companies – ADC India Communications, MSTC, and RailTel Corporation have set today, April 2, as the record date for their interim payouts. With a combined total of Rs 30.5 per share up for grabs, here is a detailed

Bharat Electronics Share Price Today Highlights: Bharat Electronics on the radar

Bharat Electronics Share Price Today Highlights: The Bharat Electronics share is in news and the counter closed trade on 01 Apr, 2025 at Rs 292.15. The shares touched intraday high of Rs 305.8 in the last trading session while the intraday low was at Rs 290. The company’s market capitalization, as on 01 Apr, 2025

Swiggy Share Price Today Highlights: Swiggy on the radar

Swiggy Share Price Today Highlights: The Swiggy share is in news and the counter closed trade on 01 Apr, 2025 at Rs 331.55. The shares touched intraday high of Rs 339.3 in the last trading session while the intraday low was at Rs 325.6. The company’s market capitalization, as on 01 Apr, 2025, is at

Tech stocks: 4 key factors to watch out for ahead of Q4 earnings

The technology companies like TCS, Infosys, Wipro, HCL Tech are in focus. The Q4 earnings season kicks off in a matter of days and the marquee tech numbers take the lead in announcing the Q4 performances of the companies. The tech results are particularly important given the uncertainty globally and the economic challenges worldwide. They

Mumbai realty firms’ scrips fall as stamp duty set to rise

Shares of Mumbai-based real estate companies fell as much as 3.34% after the Maharashtra government increased ready reckoner rates for property transactions. The state government increased ready reckoner rate for Mumbai properties by an average of 3.39% for FY26. Ready reckoner rates are the minimum rates at which government charges stamp duty and registration for