MARKET WRAP: Sensex takes a breather, gains 1,628 pts; Nifty ends at 8,745

All that happened in markets today

4:36 PM

MARKET COMMENT | Deepak Jasani, Head - Retail Research at HDFC Securities

Markets bounced back sharply on Friday after four sessions of daily negative closings. Despite Fitch Ratings halving 2020 global growth forecast to 1.3 per cent from 2.5 per cent, the fact that PBOC kept its benchmark rates steady gave some hopes to markets that situation in China is fast returning to normalcy. Asian and European markets traded higher again Friday as the first tentative signs of stabilisation are built upon. Markets tend to move ahead of the real world and bottom out well ahead of the real economy.

 

Technically, while the Nifty has bounced back, the short term trend remains down. The Nifty could resume its downtrend if the immediate support of 8,502 is broken. Any pullback rallies early next week could find resistances at 8,883-9,128

4:10 PM

Sectoral gainers and losers on the NSE

4:10 PM

MARKET AT CLOSE | Top gainers and losers on the S&P BSE Sensex

3:40 PM

CLOSING BELL

The S&P BSE Sensex jumped 1,628 points or 5.75 per cent to end at 29,916 while Nifty ended at 8,745, up 482 points or 5.83 per cent.

3:29 PM

MARKET UPDATE | Bharti Infratel zooms 23%, Escorts, Jubilant FoodWorks soar 21%

3:22 PM

Piramal Enterprises hits 52-week low of Rs 663, down 15% on the BSE

>> Stock has tanked 59% in one month from the level of Rs 1,599

3:21 PM

MARKET CHECK | Top gainers on the BSE at this hour

3:12 PM

YES Bank extends decline on profit-booking, tumbles 33% in two days

“A 1,000 million equity shares of Rs 2 each issued at a premium of Rs 8 issued to non-promoters on a preferential basis pursuant to YES Bank Reconstruction Scheme, 2020, approved by Ministry of Finance, are listed and permitted to trade on the Exchange with effect from Thursday, March 19, 2020,” BSE said in a notice dated March 18, 2020. READ MORE

3:02 PM

Contribution to Sensex's gain today

2:59 PM

BROKERAGE RADAR | Centrum Wealth on City Union Bank

Rating: BUY | Target Price: Rs 170

COVID-19 causing an economic activity standstill in Mar’20, could see the March and June quarter witness weak credit growth and stretched recoveries causing higher slippages. The next 2-4 weeks might determine the extent of virus proliferation in India and hence the time taken for economic recovery, which we see by H2FY21. Hence for FY21E we lower estimates on loan growth and raise our provisions which could impact FY21/22E PAT by 7.5%/5.3%. With the BFSI space/HDFC Bank correcting by 33% each we revise CUBK’s multiple/TP to 2.0x/Rs170 (vs 3.1x/Rs263 earlier).

Risks: further NIM compression and stress in the SME segment.

2:52 PM

Star Health, ICICI Lombard launch policies to cover Covid-19 patients

ICICI Lombard General Insurance Company in an exchange filing after market hours yesterday announced that they have rolled out a focused COVID-19 Protection Cover.
 

The company said that amid the contagious pandemic, this policy on diagnosis of COVID-19 (+ve) will pay 100% of the sum insured irrespective of hospitalization expenses. The launched insurance policy is in group insurance mode. READ MORE
 

2:49 PM

NEWS ALERT | All fin institutions including banks, stock markets will continue to function: Maha Health Min to CNBC-TV18

2:48 PM

BUZZING STOCK:: Reliance Industries surges 10%

2:36 PM

Mukesh Ambani, wife, children marginally raise personal shares in RIL

Devarshi Commercials, a promoter group company, sold down its shareholding to Ambani family and other promoter group firms, Tattvam Enterprises and Samarjit Enterprises. After the transaction, Devarshi Commercials will hold 8.01 per cent stake, down from 11.21 per cent. READ MORE

2:32 PM

YES Bank tumbles 16%

2:32 PM

BUZZING STOCK | HUL rallies 10%

2:29 PM

Rupee check

2:27 PM

EXPERT SPEAK :: Shyam Sekhar on market volatility

2:22 PM

European markets open higher

2:22 PM

Nifty Bank index falls again, dragged down by HDFC Bank

2:10 PM

Ashoka Buildcon arm executes concession pact with NHAI for road project

"Ashoka Banwara Bettadahalli Road Pvt Ltd (SPV) has executed a concession agreement with National Highways Authority of India (NHAI) on March 19, 2020, for the project viz. four laning of Tumkur-Shivamogga section...in the state of Karnataka, on hybrid annuity mode under Bharatmala Priyojana (Package - III)," Ashoka Buildcon said in a filing to the BSE. READ MORE

2:09 PM

MARKET CHECK | Sensex pares gains

2:08 PM

Recovery from intra-day lows in BSE500 stocks

COMPANY	DAY'S LOW(RS)	LATEST(RS)	RISE(%)
NAVNEET EDUCAT.	49.00	60.10	22.65
SECURITY & INTEL	337.25	401.55	19.07
FINOLEX CABLES	180.00	211.35	17.42
CONTAINER CORPN.	289.65	336.55	16.19
GUJ.ST.PETRONET	156.80	181.40	15.69

2:07 PM

NEWS ALERT | Maharashtra CM says non-essential workplaces will be shut till March 31

2:01 PM

Market regulator's default benchmark rates leave rating agencies in a lurch

For AAA-rated papers, the market regulator has laid down probability of default benchmark at zero for one-year and two-year periods. For the three-year period, a tolerance level of 1 per cent is allowed, while default benchmark is kept at zero. READ MORE

1:55 PM

Muthoot Fin: Gold financiers take hard knock; stay put for now, say experts

Despite pressures mounting on the yellow metal, analysts believe Muthoot and Manappuram Finance are in a good space and will not see any impact on their balance sheets. 

While marginal fall in gold prices may not impact companies if adequate LTV cushion is maintained, Kajal Gandhi, an analyst tracking the stocks at ICICI Direct, cautions that growth may partially get impacted and same collateral may fetch lower value, if gold price continues its downtrend. READ MORE

1:52 PM

STOCK ALERT | Quess Corp, Future Retail, Shankara Building Products, DHFL, Vakrangee and Future Consumer locked in lower circuit in an otherwise firm market

1:52 PM

Adani Ports raises Rs 125 crore through non-convertible debentures

"The company has raised Rs 125 crore today by allotment of 1,250 rated, listed, secured, redeemable, non-convertible debentures (NCDs) of the face value of Rs 10,00,000 each on private placement basis," Adani Ports and Special Economic Zone (APSEZ) said in a filing to the BSE. The said NCDs will be listed on the wholesale debt market segment of the BSE Ltd, the filing. READ MORE 

1:45 PM

NPA norms may be eased, tax deferment likely in coronavirus healing touch

As the Indian economy reels from the impact of the coronavirus pandemic, the Narendra Modi government is drawing up a relief package for industry. The relaxation of asset-classification norms by banks, thus allowing companies to delay the repayment of loans, and tax holidays for the worst-hit sectors like aviation and hospitality are expected to be part of the package, Business Standard has learnt. READ MORE

1:42 PM

MARKET UPDATE:: Sensex reclaims 30,000 level