Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

India’s Sensex Rebounds as Investors Assess Economic Outlook

Published 02/18/2020, 11:18 PM
Updated 02/19/2020, 01:03 AM
India’s Sensex Rebounds as Investors Assess Economic Outlook
BSESN
-
2222
-

(Bloomberg) -- India’s stock benchmark rose, set to rebound from its lowest close in more than two weeks, as investors assessed the extent that the coronavirus outbreak may affect the economic outlook.

The S&P BSE Sensex Index climbed for the first day in five, adding 0.7% to 41,196.16 as of 9:35 a.m. in Mumbai. The NSE Nifty 50 Index advanced by the same magnitude. Trading may be lighter than usual today as India’s bond and foreign exchange markets are closed for a bank holiday.

India’s government plans to hold talks with business groups to assess the potential economic impact of coronavirus-triggered disruptions caused by factory shutdowns in China. Meanwhile, the central bank is injecting funds into the financial system in an effort to boost loan growth in an economy set for its weakest expansion in 11 years.

Strategist View

The rebound is from “value-buying” after a coronavirus-induced sell-off yesterday, said Umesh Mehta, head of research at Mumbai-based Samco Securities Ltd. “People are assessing the economic situation after the initial sell-off.”

The Numbers

  • All 19 sector indexes compiled by BSE Ltd. advanced, led by a gauge of health care shares.
  • NTPC Ltd.’s 2.2% gain was the biggest among Sensex stocks, of which all but one rose
Market-related stories

  • India’s Nifty 50 to Exclude Yes Bank; to Include Shree Cement
  • Reliance, Aramco (SE:2222) Said to Speed Up Refinery Stake Sale Talks
  • Trump Raises Doubts Over India Trade Deal Ahead of Visit
  • Jaguar Land Rover Unsure It’ll Recoup China Sales Lost to Virus
  • Kotak Gets Final Approval From RBI on Founders’ Stake Dilution

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.