Stock Market Live Updates March 13:
04:39 PM: HDFC Group likely to announce an investment of about Rs 1000 cr in Yes Bank: Sources
04:34 PM: ICICI Bank Board approves investment of Rs 1,000 Crore in Yes Bank
- ICICI Bank informed the exchanges today that it will purchase 100 crore equity shares of Yes Bank at Rs 10 apiece.
- ICICI Bank has become the second large lender after State Bank of India to come to Yes Bank’s aid to avoid a financial sector crisis.
- This investment is likely to result in ICICI Bank Limited holding in excess of 5 percent shareholding in Yes Bank Limited
04:02 PM: FM Nirmala Sitharaman on Yes Bank reconstruction plan: SBI to invest up to 49% of equity. Other investors invited
03:37 PM: PSU Bank index top gainer on NSE
03:30 PM: Sensex ends 1,325 pts up as indices stage sharpest 1-day recovery
12:50 PM: RBI closely monitoring the global situation, says will take all necessary measures
The Reserve Bank of India (RBI) said on Friday it is closely monitoring the global situation and will take all necessary measures to ensure that markets remain adequately liquid and stable, and continue to function normally.
12:35 PM: Sensex jumps over 700 points after falling 3,000 points in early trade; Nifty above 9,800
12:11 PM: Nifty above 9,700 points
11:58 AM: Current development in markets are due to global factors; market volatility in India less than other emerging markets: Krishnamurthy Subramanian, Chief Economic Adviser, Government of India
11:12 AM: Cabinet approves proposal to give relief for telecom companies on AGR issue; Vodafone Idea zooms 23%
11:20 AM: India VIX jumps 30%
11:10 AM: Nifty gains 43.90 points, currently at 9,634.05
Investors pressed the panic button on ‘Friday the 13th,’ as fears of a global recession knocked 10 per cent off US stocks overnight in their worst-ever fall since Black Monday.
The NSE Nifty50 hit its lower circuit at 8,624.05, down 966.10 points or 10.07 per cent. The BSE Sensex also hit its 10 per cent lower circuit limit at 29,687.52 after falling 3,090.62 points, or 9.43 per cent. The trading has been halted for 45 minutes.
