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F&O Expiry: Sensex extends recovery, surges 1,411 pts; Nifty ends at 8,641

All that happened in markets today

SI Reporter New Delhi
BSE Sensex
Stock brokers react to the movement share prices on BSE Sensex in Mumbai. Photo: Kamlesh Pednekar

2 min read Last Updated : Mar 26 2020 | 4:44 PM IST
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4:25 PM

MARKET COMMENT | S Ranganathan, Head of Research at LKP Securities

The Indices continued to exhibit strength for the second consecutive day today as the GOI announced a Rs1.7 lac crore package to enable the weaker section of the society tide through the pandemic crisis. The market rally today was broad based led by short covering in financials accompanied by value buying across sectors. Dormant Retail Investors also are seen coming back to our markets seeing attractive valuations on several stocks which are clear signs of maturity

4:15 PM

SECTOR WATCH | Nifty Pvt Bank index gains the most

4:14 PM

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

3:35 PM

CLOSING BELL

The S&P BSE Sensex rallied 1,411 points or around 5% to end at 29,947 while NSE's Nifty ended at 8,641, up 324 points or around 4 per cent. 

3:25 PM

NEWS ALERT | Last date for companies to hold AGMs extended to Sept 30 from Aug 31, says Sebi

3:21 PM

EXPERT COMMENT | Jaspal Bindra, Executive Chairman, Centrum Group

Through today’s announcements the Government has made provisions to ensure that families belonging to poor and lower to middle income are able to carry out their daily lives smoothly. However we await relief measures for corporate India as well as small entrepreneurs, start ups, etc. The move to lockdown is well acclaimed, the measures announced today are timely and appropriate. We anticipate the rest of the economic packages and hope they are designed to overcome the disruptions in the rest of society

3:13 PM

FM's proposals aimed at protecting loss of livelihood; delivery will be key: Madan Sabnavis

The Finance Minister’s package announced on Thursday must be viewed as the second in the series of measures to be announced by the government to address the negative impact of the Covid-19 virus. The first announced was in the area of compliances regarding time lines, which were relaxed by three months to June. The same is being done now for the poor in what can be called the second package, which is again looking at a three-month horizon. READ MORE

3:09 PM

FMCG shares gain on govt's relief package; Marico, Godrej Consumer up 8%

Shares of fast moving consumer goods (FMCG) companies gained up to 8 per cent on the National Stock Exchange (NSE) on Thursday after Finance Minister Nirmala Sitharama announced economic package to deal with Covid-19 impact. The government would provide a relief package of Rs 1.7 trillion under the Pradhan Mantri Garib Kalyan Scheme to the underprivileged, poor and migrant workers affected by a lockdown amid the Covid-19 crisis. READ MORE

3:03 PM

EXPERT COMMENT :: Rumki Majumdar, Economist, Deloitte India

The Rs 1.70 lakh crore Pradhan Mantri Garib Kalyan (Economic Package) will certainly provide relief to the people who have been impacted by the economic disruption due to the Coronavirus outbreak. This is certainly a step in the right direction and will provide emergency relief to those impacted by the lockdown.
 
Over 35 crores people may not have any social security or wage support to cope with disruptions caused by the pandemic and about 50 percent of these are in the unorganised sector. With this move, the government has ensured that these affected sections of the society do not sleep hungry nor their livelihoods disrupted.
 
The government has rightly targeted the households and small businesses that need to be protected and supported. The announcements have been very specific as well. What will be most important is to ensure that the relief provided to the different sections or the targeted population reaches them in timely and effective manner and mechanisms such as the Jan Dhan Yojna will go a long way in ensuring this

2:56 PM

Heatmap: S&P BSE Sensex

2:53 PM

Markets were being greedy; sops announced are the need of the hour

The proposals are direct humanitarian assistance provided to the masses and this was the need of the hour. The markets were being greedy and selfish to expect relaxation in long term capital gains tax (LTCG), changes in buyback norms and dividends. I don’t think in these times such measures are top of the mind agenda. Since the stock markets were expecting such proposals, we saw the indices trim gains. READ MORE

2:40 PM

EXPERT COMMENT :: Sujan Hajra, Chief Economist and Executive Director, Anand Rathi Shares & Stock Brokers

FM’s announcements are focused mostly towards rural poor. Positive for consumers as a theme but mostly low-priced products. Rs1.7 lakh crore is about 0.8% of GDP. Collapse of demand, as was being feared by many, looks unlikely. So the period of lockdown may not be extended. These measures, if effectively and quickly implemented, would make the total shutdown more complete. This is the biggest positive for listed companies

2:39 PM

EXPERT COMMENT :: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The relief package announced today focused on the poor and vulnerable. There was, however, no announcements for stimulating the economy. This is a package for lockdown impacted segments. We are hopeful for industry-centric announcements in the next stage of the package. The govt is prioritising poors for now. This can go a long way in implementing the lockdown. A deficiency is that the states who have to implement lots of measures have not been given any significant transfer.

2:37 PM

European stocks drop

2:33 PM

SECTOR WATCH :: Insurance stocks rally on Rs 50 lakh ins. cover announcement

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Topics :MarketsSGX NiftyMARKET WRAP

First Published: Mar 26 2020 | 7:43 AM IST

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