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MOSL: Morning India (3/March/20): 1. Bulls & Bears (Coronavirus takes toll on global equities); 2. Automobiles (Feb-20 wholesales); 3. Aviation (Domestic airport infrastructure to glide by 2024)

Morning India (3/March/20):

Today’s top research theme
Bulls & Bears: Coronavirus takes toll on global equities; Nifty joins the bandwagon

** The Nifty extended last month's losses to close 6.4% MoM lower in Feb'20. After showing some resilience at the beginning of the month, the benchmark mirrored the slide in the global markets on the back of reports of coronavirus spreading beyond China. Dampening investor sentiment globally was reflected in more than 10% correction in the US market in just a week. Some comfort though comes from institutional flows, with FIIs infusing USD0.7b and DII flows remaining positive for second straight month at USD2.4b - the highest in six months.

** Nifty Midcap100 too shed 6.8%. Notably over the past 12 months, Nifty Mid-Cap 100 is flat, as against the Nifty's rise of 3.8%. Nifty Mid-cap 100 P/E ratio of 20.5x is at a 22% premium to the Nifty.

** Real Estate (-16%), Auto (-14%), Metals (-13%), Capital Goods (-12%) and PSU Banks (-11%) were the biggest losers in the sectoral space.

 Piping hot news
Rupee falls to 1-year low against US dollar as coronavirus cases emerge
The Indian rupee fell sharply the US dollar today after two fresh cases of coronavirus detected in India. Domestic equity markets also extended losses to the seventh day today. Rupee, which started the day on a positive note, witnessed heavy volatility and finally settled at 72.73 against the US dollar, which is its lowest value against the US dollar in over a year. The rupee had closed at 72.17 in the previous session.