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75% stocks from BSE100 index trade in the red today. Here are the top intraday losers

75% stocks from BSE100 index trade in the red today. Here are the top intraday losers

75% stocks from BSE100 index trade in the red today. Here are the top intraday losers
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By Pranati Deva  Mar 19, 2020 12:44:56 PM IST (Updated)

In the BSE100 index, around 25 stocks were positive in intraday deals, whereas the remaining 75 gave negative returns up to 26 percent.

Indian stocks trimmed some losses after plunging nearly 7 percent on Thursday, in line with Asian peers, as unabated panic over the coronavirus pandemic eclipsed steps taken by global central banks to arrest the economic fallout from the outbreak.

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The rupee also hit a fresh record low of 75.0100 against the dollar, as a flight into cash and worries about tightening liquidity boosted demand for the world’s reserve currency.
“Nothing much has changed. Panic is the overriding emotion right now,” Anand James, chief market strategist at Geojit Financial Services was quoted as saying in a Reuters report.
The virus, which originated in China, has spread quickly around the globe, killing more than 8,000 people and battering economic activity, which has raised fears of a global recession.
In the BSE100 index, around 25 stocks were positive in intraday deals, whereas the remaining 75 gave negative returns up to 26 percent.
YES Bank shed the most, down 26 percent, followed by Indiabulls Housing, down 19.3 percent, Bharti Infratel 19 percent, Ashok Leyland 19 percent, Apollo Hospitals 17 percent, Zee 16 percent, Bajaj Holdings 15 percent, and Bharat Forge 13 percent.
Other stocks like Coal India, M&M, Tata Motors-DVR, Maruti Suzuki, BCL, NMDC, UPL, Axis Bank, Pidilite Industries, and Infoedge also shed between 5 percent and 15 percent in intraday deals.
Meanwhile, gainers included RBL Bank, Bharti Airtel, Motherson Sumi, PowerGrid, PNB, Bank of Baroda, and Infosys rose between 3 percent and 7 percent.
Sunil Singhania of Abakkus Investment in an interview with CNBC-TV18 said that he hasn't seen such a market in his 25-year career, adding that optimists like him are also finding it difficult to invest until stability returns.
Samir Arora of Helios Capital also advised investors to sit on the sidelines for now.
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