5 Factors Why Stock Markets Crashed, Barbeque Nation IPO Update, and Buzzing Stocks Today

Thu, 25 Mar Pre-Open

   Previous Close   

   09:30 am   

   12:30 pm   

   Closing   

Indian share markets ended deep in the red yesterday.

Benchmark indices registered sharp losses tracking weakness in the international market as the US dollar rose and Covid-19 cases continued to rise, resulting in investors' flight to safety.

At the closing bell yesterday, the BSE Sensex stood lower by 871 points (down 1.7%).

Meanwhile, the NSE Nifty ended down by 265 points (down 1.8%).

Tata Steel and Tata Motors were among the top losers.

The BSE Mid cap index and the BSE Small cap index ended down by 1.7% and 1.6%, respectively.

On the sectoral front, banking stocks, auto stocks and metal stocks were among the hardest hit.

Gold prices for the latest contract on MCX were trading up by 0.4% at Rs 44,815 per 10 grams at the time of closing stock market hours yesterday.

Note that the recent volatility in stock markets has added to the worries of investors and traders alike.

The market is certainly overheated but will it crash anytime soon?

If so then when can we expect it? What will be the scale and duration of such a crash?

Vijay Bhambwani answers these questions in his latest video for Fast Profits Daily.

Tune in to know more...

Why the Stock Market Were Down Yesterday

Rising Covid-19 Cases: A sharp rise in Covid-19 cases are posing a serious threat to the economic recovery of the world.

The brunt is felt in India too. India reported 275 new COVID-19 deaths yesterday, the most this year, as a second surge in cases is filling up hospital beds in big states such as Maharashtra.

Infections rose by 47,262 in the past 24 hours, the highest since early November, to a total of 11.7 million, data from the health ministry showed.

Note that India has recorded the most number of cases after the United States and Brazil. Total deaths have shot up to 160,441 in India.

Weak US Economy: Treasury Secretary Janet Yellen said the US economy remains at risk as she fielded lawmakers' questions about possible infrastructure and tax increase plans under consideration.

Geopolitical Concerns: Geopolitical concerns are also influencing the mood of the stock market. As per a Reuters report, North Korea fired two short-range missiles at the weekend, US and South Korean officials said, but Washington played down the first such tests under President Joe Biden and said it was still open to dialogue with Pyongyang.

The test came after North Korea refused to engage with repeated behind-the-scenes US diplomatic overtures by the new administration since mid-February.

Weak Global Cues: Asian stock markets witnessed selling yesterday amid reports of lockdowns in Europe and a potential tax hike in the US.

It was reported that Asian shares hit a two-week low, oil weakened further and the dollar neared four-month highs yesterday as coronavirus lockdowns in Europe and potential US tax hikes hit risk appetite, leading to a flight to safety.

Profit Booking: Apart from the above, losses were also seen as share market succumbed to profit-booking.

Most of the profit-booking was seen in the banking sector yesterday with banking stocks such as HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, and SBI dragging the benchmark index lower.

We will keep you updated on how these factors develop in the coming days and what effect they have on Indian stock markets. Stay tuned!

Top Stocks in Focus Today

Rail Vikas Nigam (RVNL) will be among the top buzzing stocks today.

The central government is all set to sell its 15% stake in Rail Vikas Nigam via an offer for sale (OFS) to raise nearly Rs 7.6 billion.

The issue opened yesterday for non-retail investors, and will open today for retail investors, the company informed in a regulatory filing on Tuesday.

The floor price has been fixed at Rs 27.50 a share, a 9.54% discount to yesterday's closing price of Rs 30.40.

Hero MotoCorp share price will also be in focus as the company said it will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from April 1, 2021, in order to partially offset the impact of higher commodity costs.

"The price hike has been necessitated to partially offset the impact of increased commodity costs," Hero MotoCorp said in a filing to BSE.

The price increase across the range of two-wheelers will be up to Rs 2,500, and the exact quantum of the increase will vary on the basis of the model and the specific market, it added.

Barbeque Nation Hospitality IPO Sees Huge Retail Participation

In news from the IPO space...

The public issue of causal dining restaurants chain Barbeque Nation Hospitality was subscribed 81% at the time of closing stock market hours yesterday - the first day of bidding.

Market participants put in bids for 40.5 lakh equity shares against the offer size of 49.9 lakh shares, the subscription data available on exchanges showed.

Retail investors lent support as they put in bids 4.4 times more than their reserved portion.

The part set aside for non-institutional investors was subscribed 4% and that of employees 13%.

The company has fixed a price band of Rs 498-500 per share for its initial share sale.

The initial public offer (IPO) comprises a fresh issue of shares worth Rs 1.8 billion and an offer-for-sale (OFS) of up to 54,57,470 equity shares.

At the upper end of the price band, the IPO is expected to fetch Rs 4.5 billion.

The company has already raised Rs 1.5 billion through a pre-IPO placement from Xponentia Capital and Jubilant Foodworks.

Proceeds from the issue will be utilised to fund the company's capital expenditure for expansion and opening of new restaurants besides, prepayment or repayment of certain borrowings and expenses related to general corporate purposes.

Earlier in 2017, the company had filed IPO papers with markets regulator seeking to raise Rs 7 billion. However, the regulator kept the processing of the company's proposed IPO in abeyance "pending regulatory action for past violations" and finally approved the IPO plan in January 2018.

Although, the company could not launch the initial share-sale due to adverse market conditions.

As of December 2020, Barbeque Nation Hospitality operates 147 outlets across India and six outlets across three countries - UAE, Oman and Malaysia.

How this IPO sails through remains to be seen. Meanwhile, we will keep you updated on all the developments from this space.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers