Sensex zooms 2,476 pts in biggest one-day percentage gain since May 2009

All that happened in the markets today

4:05 PM

MARKET COMMENT :: Vinod Nair, head of research, Geojit Financial Services

Aided by news that the infections were peaking in some of the worst affected areas around the world, the Indian markets in sync with the Global markets, witnessed a relief rally. Investors are also awaiting an ease in lockdown procedures, so companies can get down to generating business. In a holiday shortened week, any news regarding peaking infections will be bought into. Defensives like Pharma and FMCG, which has witnessed the least disruption in their business, will continue to be favored

3:50 PM

SECTOR WATCH | Here's how sectoral indices on NSE performed today

3:45 PM

MARKET AT CLOSE | All 30 constituents of S&P BSE Sensex end in the green

3:38 PM

CLOSING BELL

The S&P BSE Sensex zoomed 2,476 points or around 9 per cent to settle at 30,067 while NSE's  Nifty50 ended at 8,792, up 708 points or 8.76 per cent. 

3:34 PM

MARKET COMMENT :: Abhimanyu Sofat, Head of Research, IIFL Securities

Markets were driven by positive news with regard to New York and Spanish data on the rate of Corona infections. The flattening of the curve would help a risk-on trade in the market. However, for Nifty to go above the 9,000 levels, one would  need some additional positive news on domestic front with regards this pandemic

3:26 PM

MARKET UPDATE | RIL zooms around 12%

3:17 PM

MARKET CHECK | Top 5 losers on the BSE at this hour

3:08 PM

Heatmap: S&P BSE Sensex at this hour

3:02 PM

MARKET UPDATE:: Sensex reclaims 30k

3:00 PM

Indian tea exports may decline by up to 8% over Covid-19 outbreak

Estimates from the Tea Board suggested that owing to the loss of the first flush and the complete wipe out of Darjeeling tea from the system, there could be a shortfall of 16-20 million kg (mkg) this year in export volume. Moreover, if the production and quality in the second flush starting May is affected, then the export shortfall may increase. READ MORE

2:56 PM

Bajaj Finance recovers over 5% from day's low, turns green

2:54 PM

NEWS ALERT :: RBI permits greater space to state govt/UTs for availing overdraft facilities till Sept 30, 2020

2:54 PM

Sun Pharma regains market-cap of Rs 1-trillion after rallying 25% in four trading days

2:53 PM

Gold falls 1% as hopes of slowing coronavirus spread boost stocks: Reuters

Gold prices fell 1% on Tuesday, retreating from a one-month high hit earlier in the session as risk sentiment improved on wider market optimism that the coronavirus pandemic may be easing.

2:49 PM

NEWS ALERT | Hindustan Unilever, Nestle India, Torrent Pharma, GSK Consumer and Ipca Labs from the S&P BSE 500 index hit all-time highs

2:47 PM

NEWS ALERT :: SpiceJet operates India’s first cargo-on-seat flight

>> SpiceJet operated the country’s first cargo-on-seat flight carrying vital supplies in the passenger cabin and belly space from Delhi to Chennai today. The airline deployed a Boeing 737 NG aircraft after taking due approvals from the Directorate General of Civil Aviation (DGCA) and the Ministry of Civil Aviation. The aircraft will do five rotations today ensuring that vital supplies are delivered in the shortest possible time.

2:40 PM

COVID-19 IMPACT :: Japan PM Shinzo Abe officially declares state of emergency covering Tokyo, Osaka & five prefectures: Reuters

 

2:35 PM

MARKET UPDATE:: Total market-cap of BSE-listed companies rose Rs 7.08 trillion today after Sensex rallied 8%

2:31 PM

SECTOR WATCH :: Nifty Private Bank index soars over 10%

2:30 PM

Contribution to the S&P BSE Sensex's sharp surge today

2:22 PM

MARKET UPDATE:: Nifty tops 8,700 after over 600 points upmove

2:16 PM

Coronavirus outbreak: Cash-rich companies find favour in testing times

One way to limit the downside and navigate the demand volatility is to look at cash-rich companies. Analysts believe that cash-rich corporates will be able to withstand pressure on revenues, rise in costs, and dip in demand much better than companies which are struggling on this front.

2:14 PM

Growth in domestic market likely to provide booster dose for pharma stocks

The BSE Healthcare index turned out to be the biggest gainer among sectoral indices, gaining about 8 per cent in trade on Tuesday. In addition to the market rally, analysts believe it will be among the few sectors to post strong growth in the March quarter. In addition to domestic demand, there could be more export orders, not just for Covid-19-related drugs, but also for other formulations. READ MORE

2:05 PM

PVR hits nearly 4-year low as Icra places rating on watch amid lockdown

The stock of the multiplex operator was trading at its lowest level since June 24, 2016. In the past two months, it has tanked 55 per cent following the closure of movie theatres across India as state governments ramped up efforts to contain the spread of coronavirus. In comparison, the S&P BSE Sensex has declined 29 per cent during the same period. READ MORE

2:00 PM

BROKERAGE VIEW:: Thematic report on Cement industry by HDFC Securities

We analyse the Indian cement industry’s environment friendly and structural cost reduction effort – Waste Heat Recovery System (WHRS). A WHRS part recycles kiln’s exhaust heat to generate electricity at negligible op cost (hence attractive payback). This reduces fossil fuel consumption intensity and thus CO2 emissions! The Indian cement industry scaled up WHRS additions by 4x during FY13-20 to 652MW and another 40% addition by FY23 is underway. This helps the Indian cement industry to sustain its global leadership on energy efficiency and to lower its carbon footprint while boosting op margins. Companies in the north-central region are the major gainers as most of them have ~15% of their electricity needs being met through WHRS.

1:54 PM

MARKET CHECK | Top 5 gainers on the BSE at this hour

1:43 PM

Covid-19: V-P Naidu hints at lockdown extension, says 'health over economy'

The Vice President said that the data regarding the extent and rate of spread of virus infection will have a bearing on the exit strategy. He appealed to the people to abide by whatever decision follows on April 14, and cooperate with the same spirit that has so far been demonstrated even if hardships were to continue after April 14. READ MORE

1:36 PM

Markets ripe for raising lump-sum allocation: Nippon India MF's Gunwani

Many assumptions regarding GDP growth and earnings estimates will radically change for FY21, believes Manish Gunwani, CIO – equity investments, Nippon India Mutual Fund. In an interview with Ashley Coutinho, he says a lot of stocks are pricing in an extended slowdown and present attractive risk-reward trade-offs. READ MORE

1:30 PM

Railway deal, coronavirus' disruption of global trade to weigh on Concor

The immediate impact, however, is from the demand slowdown due to disruption of the export-import trade which accounts for a majority of Concor’s revenues.

 

Analysts at ICICI Securities have lowered their volume estimates for 2020-21 and 2021-22 by 6 per cent each. The other worry for the company, which dominates the country’s container rail freight business, is higher competitive pressure from the road segment. READ MORE

1:22 PM

Brokerages prefer realty firms with annuity assets amid stable cash flows

CLSA said during the previous global slowdown of 2008-2009, the country’s office demand dipped in the short term (only in 2009), but then rose to even higher levels driven by increased global offshoring. It said the highest number of global capability centres were (GCCs) added during 2005-2010. READ MORE