MARKET WRAP: Indices pare gains; Sensex up 693 pts, Nifty settles at 7,801

All that happened in the markets today

4:20 PM

MARKET COMMENT | Vinod Nair, Head of Research at Geojit Financial Services

Market seemed to breathe a sigh of relief today after the crash yesterday, in sync with the global markets. In addition to the huge relief package by the US Fed yesterday, there were also expectations of a fiscal package by the government. Market came off its highs after no significant announcements by the FM and the fact that the economic package was still in development. European and US manufacturing activity data due later, which may indicate the impact of Covid-19 on economies, could influence markets tomorrow.

4:03 PM

Sectoral gainers and losers on the NSE

4:03 PM

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

3:42 PM

CLOSING BELL

The S&P BSE Sensex gained 693 points or 2.67 per cent to end at 26,674 while NSE's Nifty50 settled at 7,801, up 191 points or 2.51 per cent.

3:30 PM

ALERT :: European markets trade higher

3:27 PM

ALERT :: US Dow Futures locked in upper circuit

3:26 PM

Rupee check

Source: Bloomberg

3:24 PM

'End of coronavirus pandemic is near', says Nobel laureate Michael Levitt

In his view, the fast-spreading disease is likely to come to a halt, but gradually. Levitt, whose specialty is not in epidemiology, cited the slowing rate of increase in the number of deaths in China to support his hypothesis.

 

Levitt said that just like China, the United States too will get through the worst of the coronavirus outbreak sooner than many specialists anticipate, the Los Angeles Times reported on Monday. READ MORE

3:15 PM

NEWS ALERT | Sebi, RBI and govt closely monitoring the stock market volatility: FM

3:14 PM

COMMENT :: MS Mani, Partner, Deloitte India on FM's announcements

The extension of GST return filing timelines together with the deferment of e-invoicing and new returns announced earlier would allow businesses to focus on resumption of business processes once normalcy resumes in future. The waiver of interest, late fees and penalties for SME’s would enable them to focus on reviving their businesses once things are back to normal

 

3:11 PM

MARKET ALERT :: Sensex erases gains partially

3:10 PM

NEWS ALERT | PM is closely monitoring the economic situation: FM Sitharaman

3:03 PM

NEWS ALERT | Debit card holders, who withdraw cash, from any ATM can do it for free of charge for 3 months

>> Will reduce bank charges for digital trade transactions for all trade finance consumers

3:01 PM

NEWS ALERT | SIP issued for import of aqua-culture extended for 3 months: FM

>> Delay of arrival of imports will be overlook

Alert: SIP is Sanitary Import Permit

2:56 PM

NEWS ALERT | Threshold limit for default raised from Rs 1 lakh to Rs 1 crore under IBC to protect MSMEs: FM Sitharaman

>> May consider suspension of Section 7,9 and 10 of IBC for six months if virus-related uncertainties prevail beyond April. 

2:52 PM

NEWS ALERT | Requirement to invest 15% of debentures in specified instruments extended till June 30, 2020: FM

>> The mandatory requirement was earlier required to be fulfilled by April, 2020

2:49 PM

NEWS ALERT | Additional 6 months will be given to newly incorporated companies for commencement of business: FM

2:46 PM

NEWS ALERT | No move to impose financial emergency: FM

2:44 PM

NEWS ALERT | Moratorium issued w.r.t MCA registry to be from April 1 to Sept 30

>> Mandatory requirement to hold Board meetings relaxed till next two quarters

>> No addtional fees for late filing of registry

2:41 PM

NEWS ALERT | Last date for 'Sab ka Vishwaas' scheme applicability extended to June 30, 2020: FM

>> No interest rate to be charged for late submission of claims for businesses with turnover less than Rs 150 cr

>> Custom clearance will be available 24x7 till June 30, 2020

Alert: Sab ka Vishwaas' scheme  is a tax dispute redressal scheme for indirect taxes

2:36 PM

NEWS ALERT | Last date for filing GST and/or composition returns for March, April & May 2020 extended to June 30, 2020

>> No interest, no late fee or penalty will be charged from business woith turnover less than Rs 5 crore

>> No late fee or penalty will be charged for the first 15 days, beyond that interest to be charged at 9% for businesses with turnover more than Rs 5 crore

>> Date for opting compostion scheme now extended to June 30, 2020

2:32 PM

NEWS ALERT | Linking of Aadhar-Pan card can be done till 30 June 2020: FM

>> Benefits of 'Vivaad Se Vishwas' scheme will be extended till June 30, 2020, with no addtional 10% charge

>> Due dates for issues of notice, intimation, notification, approval order, sanction order, filing of appeal, filing return, etc will be extended till 30 June 2020 under I-T Act, STT Law, CTT Law, Wealth Tax Act, etc

2:28 PM

NEWS ALERT | Delayed deposit on TDS will attract interest rate of 9%: FM

2:27 PM

NEWS ALERT | Last date for Income Tax return for FY19 will now be 30 June 2020: FM

>> Delayed return will attract interest rate of 9%, down from 12%

2:26 PM

NEWS ALERT | Many statutory and regulatory-related issues need to be announced: FM Sitharaman

2:22 PM

NEWS ALERT | Will announce economic package to address Covid-19 led slowdown soon: FM Sitharaman

2:15 PM

Coronavirus impact: As data usage jumps, telcos ask govt for more spectrum

In a letter to the department of telecommunications (DoT), the Cellular Operators Association of India (COAI) has demanded additional spectrum both for “access and backhaul microwave” for a short term and temporarily as they need to augment their capacity to meet the growing demand. COAI director general Rajan Matthew however says they are still waiting for a response from the government. READ MORE

2:07 PM

MARKET CHECK:: Sensex up 1,100 pts ahead of FM Sitharaman's addres

2:03 PM

MARKET VOICE

1:47 PM

BUZZING STOCK | Britannia Ind surges 13%