MARKET WRAP: Sensex ends 173 pts lower after choppy session; banks slip

All that happened in markets today

4:18 PM

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

Markets gave up gains, following a negative opening in the European Markets and uncertainty regarding the spread of Covid-19 infections. Markets are also uncertain as to the government response after the official 21 day lockdown expires on April 14. Some states are looking to extend the lockdown and some are for withdrawing it in a phased manner. The longer the lockdown stays, more the impact on the economy and companies.

4:15 PM

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

4:15 PM

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

3:39 PM

CLOSING BELL

The S&P BSE Sensex ended 173 points lower at 29,894 levels while NSE's Nifty50 lost 43 points or 0.49 per cent to settle at 8,749

3:29 PM

EXPERT COMMENT | Jateen Trivedi, Senior Research Analyst, LKP Securities on Rupee

Rupee continued its weakness trend after some respite yesterday, USD/INR pair in offshore market traded higher on Wednesday tracking the spike in spot pair due to rising case of coronavirus in India amid a strong greenback which is now trading again above $100 mark. The spot pair ended at record high Wednesday on likely overseas outflows from local stocks amid oil importers buying and a strong greenback along with likely overseas funds outflow from local stocks. 75.50 shall keep acting as a strong support for USD/INR with upside potential of 77

3:27 PM

MARKET UPDATE

3:14 PM

NEWS ALERT :: Looking at options to extend lockdown: PM Modi to leaders

(As reported by CNBC TV18)

PM Modi during his interaction with opposition leaders. ANI

3:06 PM

CORONAVIRUS IMPACT :: Goldman Sachs slashes India's FY21 real GDP growth forecast to 1.6%

For India, the global research house has lowered its real GDP forecast to 1.6 per cent in financial year 2020-21 (FY21) from 3.3 per cent earlier. This, however, is still higher than United States, which it now sees contracting to -6.2 per cent in 2020 (from -3.7 per cent earlier). READ MORE

3:03 PM

Nifty sectoral indices at this hour

3:01 PM

Sugar mills seek third ethanol supply tender from govt-owned OMCs

In a letter addressed to three government-owned OMCs — Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL), the apex industry body, Indian Sugar Mills Association (ISMA), urged to float a fresh ethanol procurement tender to help sugar mills/distilleries supply more green fuel for blending with petrol and reducing the oil import bill proportionately. READ MORE

2:56 PM

NEWS ALERT :: Adani Gas reduces prices of CNG, domestic PNG w.e.f April 9

2:54 PM

Stocks that hit 52-week low on BSE today

COMPANY	PRICE(rs)	52 WK LOW		CHG(%)
ARVIND FASHIONS.	132.70	130.15		-5.18
CAPRI GLOBAL	130.20	127.50		-2.65
CUMMINS INDIA	325.60	281.60		13.06
FUTURE CONSUMER	5.72	5.72		-4.98
FUTURE LIFESTYLE	96.20	96.20		-4.99

2:49 PM

Coronavirus impact: Investor outreach programmes see spike in March

Investors might reach out for information on issues including any shutdown in operations, how many days it may last and supply chain issues among other things, suggested Amit Tandon, founder and managing director of Institutional Investor Advisory Services India (IiAS), which advises on corporate governance issues and helps investors vote on company decisions. "A number of questions come up because of the novelty of the situation which has struck across geographies at the same time," said Tandon READ MORE

2:48 PM

MARKET LIVE: Sensex back in green

2:43 PM

NEWS ALERT | IRCTC, Avenue Supermarts, HEG, Graphite India, SpiceJet, Balrampur Chini among 362 stocks locked in upper circuit on BSE

2:36 PM

NEWS ALERT :: TVS Motor likely considering to bid for classic UK motorcycle brand Norton: Bloomberg

2:34 PM

European markets lower

(Source: Reuters)

2:30 PM

STOCK PICKS BY ANGEL BROKING

2:25 PM

NEWS ALERT :: Adani Group is in talks with MFs, NBFCs to release promoter pledged shares over the next 6-8 week

(As reported by CNBC TV 18 quoting unnamed sources)

2:18 PM

Nifty Bank index falls 1,500 pts off day's high

2:07 PM

Rupee closing

Rupee ends at 76.37/$ against Tuesday's close of 75.63 against the US dollar

2:05 PM

Fall from intra-day high today in BSE500 stocks

COMPANY	DAY'S HIGH(RS)	LATEST(RS)	FALL(%)
INDUSIND BANK	441.65	372.00	-15.77
INFIBEAM AVENUES	41.55	35.65	-14.20
CHALET HOTELS	202.00	174.00	-13.86
JINDAL STEEL	93.90	82.80	-11.82
MOTHERSON SUMI	61.45	54.50	-11.31

2:01 PM

NEWS ALERT | Aviation Minister tweets on flight restrictions due to Covid-19 outbreak

1:55 PM

Balrampur Chini extends gain as Icra reaffirms rating; soars 74% in 9 days

Shares of Balrampur Chini Mills (BCML) were locked at the 5 per cent upper circuit for the nine straight day, at Rs 126.40, on the National Stock Exchange (NSE) on Wednesday after the credit rating agency Icra re-affirmed the credit ratings for both long-term and short-term. The outlook on the long term rating remained stable. READ MORE

1:52 PM

NEWS ALERT | Rupee hits a record low of 76.27 against US dollar

1:49 PM

NEWS ALERT | German economy likely shrank by record 9.8% in second-quarter due to coronavirus, reports Reuters

Europe’s largest economy probably shrank by 9.8% in the second quarter, its biggest decline since records began in 1970 and more than double the decline seen during the global financial crisis in 2009, Germany’s leading institutes said on Wednesday.

 

The top economic research institutes said that was due to the lockdown measures introduced to help slow the spread of the coroanvirus. They said the economy probably shrank by 1.9% between January and March.

1:42 PM

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

1:40 PM

NEWS ALERT :: West Coast Paper Mills partially begins production at Paper and Duplex Board Division, Dandeli: BSE filing

1:31 PM

Maruti Suzuki lowers production by 32% in March as slowdown bites

The company produced a total of 92,540 units in March as against 136,201 units in the year-ago period, the auto major said.

 

Passenger vehicle production last month stood at 91,602 units as against 135,236 units in March 2019, a dip of 32.26 per cent, it added. READ MORE

1:21 PM

Q&A | Investors opting to sit back till things get clearer: Kenneth Andrade

The market sell-off has already captured a lot of bad news in the price. Businesses now trade at book value (BV) or significantly lower, which limits their downside. The risk-reward ratio is very favorably balanced in favor of the former, time is the only element one cannot quantify. At this point there is little value at looking at the immediate future, as the first half of this year remains a washout. One needs to push the investment horizon to 2022 and beyond to watch how corporates recover from the lockdown. READ MORE  

Kenneth Andrade, founder and chief investment officer, Old Bridge Capital Management