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MARKET: Sensex surges 1,028 pts, oil & gas stocks rally; India VIX down 10%

All that happened in the markets today

SI Reporter New Delhi
BSE Sensex
Hindustan Unilever (HUL) hit its fresh 52-week high of Rs 2,311.85 in the intra-day session

3 min read Last Updated : Mar 31 2020 | 4:15 PM IST

4:07 PM

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

"Mirroring positive global market, Indian markets also reacted positively on the last day of the financial year. Almost all sectoral indices were up & volatility index was also down by 10%. Chinese economic data, Industrial production numbers improved and helped the global momentum, especially in Metals, Pharma and FMCG. FII selling also slowed down over the last 2 days, although that may not be sustainable. The performance of global market will be the key driver for Indian market in the near-term".

3:55 PM

Sectoral gainers and losers on the NSE

3:50 PM

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

3:40 PM

CLOSING BELL

The S&P BSE Sensex rallied 1,028 points or 3.62 per cent to end at 29,468.49 while NSE's Nifty50 ended at 8,598, up 317 points or 3.82 per cent. 29,468.49

3:25 PM

BROKERAGE VIEW:: ICICI Securities on VST Tillers Tractors

The VST Tillers & Tractors stock witnessed a sharp re-rating tracking the weak P&L performance and consequent deterioration of return ratios in the recent past. Return ratios for VST have corrected from consistent 20%+ RoCE levels seen till FY18 to 11.5% in FY19. With limited margin improvement guidance, we foresee return ratios remaining below 10%, which is below our comfortable range. VST is a net cash positive company (cash & investments on books at ~ Rs 150 crore) but its incremental spend on new product development catering to the >15 hp crowded tractor space erodes our margin of safety on the stock. We assign a HOLD rating to VST, valuing the company at Rs 660 i.e. 12.5x P/E on FY22E numbers. We will wait for an improvement in financials before any meaningful change in our stance.

3:18 PM

MARKET CHECK

3:09 PM

SpiceJet announces 10-30% cut in March salary for all employees

 Budget carrier SpiceJet has decided to cut 10-30 per cent salary of all its employees in March, with Chairman Ajay Singh opting for highest 30 per cent trimming in compensation, the airline said in an e-mail communication to the staff on Tuesday. "SpiceJet management has decided to implement a pay cut between 10-30 per cent in March across our employee base. Our Chairman and Managing Director (Ajay singh), in fact, has opted for the highest cut of 30 per cent in compensation," the airline said in the communication. READ MORE

3:03 PM

MARKET UPPDATE:: Broader indices underpeform benchmarks

3:02 PM

Maruti Suzuki India chairman on challenges, price hike after BS-VI shift

Amid the nationwide lockdown to check the Covid-19 spread, India will quietly transition to BS-VI, the most stringent emission standard for the automobile industry anywhere in the world. R C Bhargava, chairman of Maurti Suzuki India, speaks to Arindam Majumder about the learning, challenges, and scope of a price hike in a bruised economy. READ INTERVIEW HERE

2:56 PM

Heatmap: S&P BSE Sensex at this hour

2:55 PM

MARKET ALERT :: India VIX slumps 11%

2:54 PM

BUZZING STOCKS:: SAIL zooms 13%

2:50 PM

NEWS ALERT | ANMI requests SEBI to curtail market hours from 10 am to 2 pm on account of the nationwide lockdown on safety of their staff due to COVID-19 outbreak

2:49 PM

Stocks that hit 52-week lows today in an otherwise strong market

2:37 PM

MARKETS IN FY20

>> S&P BSE Sensex tumbles 24%

>> NSE's Nifty slumps 29% 

>> MidCap index down 37%

>> SmallCap Index falls 48%

>> Nifty Pharma index down 14%

>> Nifty Metal index slides 52%

>> BSE Oil and Gas index tanks 20%

>> Nifty Auto index tanks 44%

Topics :MarketsMARKET WRAP

First Published: Mar 31 2020 | 7:31 AM IST