MARKETS: Sensex ends 1,325 pts up as indices stage sharpest 1-day recovery

All that happened in the markets today

4:03 PM

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

Sharp recovery in global markets on hopes that US is considering economic stimulus helped domestic market to bounce back from losses with index heavyweights contributing to gains. Increase in recovery rates of virus-infected apart from those in Italy has been considered positive. If there any further fresh coronavirus cases over the weekend the market could turn volatile

3:43 PM

MARKET COMMENT | S Ranganathan, head of research at LKP Securities

Indian markets reached capitulation today amidst mayhem as exchanges were forced to shut down markets on hitting the circuit filter. Markets after reopening displayed a highly spirited recovery in anticipation of a stimulus today post market by the GOI. The intraday swing in indices witnessed today was truly unnerving but provided a tremendous buying opportunity for those under allocated towards equities.

3:37 PM

Nifty snapshot | PSU Bank index top gainer on NSE

3:35 PM

Sensex heatmap at close | SBI, Tata Steel up 15% each

3:34 PM

Closing Bell | Indices stage biggest intra-day recovery

>> The S&P BSE Sensex closed 1,325.34 points, or 4 per cent, higher at 34,103.48 level. The index touched an intra-day high of 34,769.48, up 5,380.5 points from day's low.

>> The NSE's Nifty reclaimed the 10,000-mark to end at 10,023.65, up 433.50 points or 4.52 per cent. The index had hit 10% lower circuit in the first few minutes of trade today.

3:31 PM

Expert Speak :: Shyam Sekhar

3:20 PM

Tata Steel, Tata Power, Indian Hotels rebound up to 25% on heavy volumes

Tata Steel moved higher by 11 per cent to Rs 320, rebounding 25 per cent from the day’s low on the NSE. The stock had hit multi-year low of Rs 255 in the early morning trade. A combined 29 million shares, representing 2.6 per cent of total equity of the company, have changed hands on the NSE and BSE. READ MORE

3:15 PM

Contribution to S&P BSE Sensex's rebound gain today

3:00 PM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
VODAFONE IDEA	5.19	0.99	23.57	108672997
YES BANK	25.30	0.25	1.00	23754720
TATA MOTORS	85.65	-2.35	-2.67	9200937
RELIANCE POWER	1.34	-0.03	-2.19	8298186
ST BK OF INDIA	230.95	18.20	8.55	6776668

2:59 PM

NEWS ALERT | China central bank cuts reserve requirement ratio for some banks: CNBC TV18

-- China's Reserve Bank cuts requirement ratio for qualifying banks by 50-100 bps for inclusive financing

-- Effective as of Mrach 16

2:56 PM

Nifty sectoral indices at this hour

2:52 PM

NEWS ALERT | There will be an adverse impact on the biz but the extent is not yet clear: Unilever Plc

>> GSK Cons deal is now expected to complete in the first half of 2020

2:50 PM

Global Markets check

Stocks plunged on Friday with coronavirus panic selling hitting nearly every asset class, before finding some kind of floor as hopes turned to a US stimulus package.

European and US stock futures traded in positive territory and some of Asia’s deepest losses were recovered by the end of a session, in which tight liquidity exaggerated moves.

Japan's Nikkei fell 10 per cent before paring the drop to close 6 per cent lower. Australia's S&P/ASX200 had its wildest trading day on record, falling past 8% before surging in the last minutes of trade to settle 4.4 per cent higher after the close.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan wobbled 0.1 per cent higher by late-afternoon after being down more than 5 per cent during the morning. It remains set to end the week 11 per cent lower, the biggest drop since 2008.

The turnaround came as central banks from the United States to Australia pumped liquidity into their financial systems and as hopes grew that US Democrats and Republicans could pass a stimulus package on Friday.

By late afternoon, Hong Kong's Hang Seng was down 1.9 per cent and Korea's Kospi - which had busted through circuitbreakers earlier in the session - had recouped losses to sit 3.4 per cent in the red.

2:43 PM

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

2:42 PM

Heatmap: S&P BSE Sensex

2:29 PM

NEWS ALERT | Indian Oil Corp declares interim dividend of Rs 4.25/share: BSE filing

>> Board has fixed 25th March 2020 as the 'record date' for the purpose of ascertaining the eligibility of shareholders for payment of interim dividend 

2:23 PM

BROKERAGE RADAR | Sharekhan on RIL

Valuation – Maintain Buy with revised SoTP based PT of Rs. 1,710

We believe that near term weakness in RIL’s stock price (stock corrected by 34% from recent highs) due to volatility in the broader markets should be looked as an opportunity to invest in the stock from long-term perspective. Moreover, the current valuation of 10x FY2022E EPS and 7.6x FY2022E EV/EBITDA is not factoring in improved outlook for telecom business and sustained high growth for retail business. Hence, we maintain our Buy rating on RIL with a revised SoTP based price target of Rs 1,710/share to factor lower GRM and petchem margin assumption and delay in potential re-rating given concerns over likely deferment of RIL-Saudi Aramco deal.

2:22 PM

Nestle, HUL, Asian Paints, Airtel stocks show resilience amid market mayhem

While HUL is trading at 51 one-year forward earnings, Nestlé India is at 70.6 one-year forward earnings. Since January 14, Nestlé India has given returns of 4.7 per cent, while HUL is up 2.35 per cent.

 

Asian Paints is another stock that has held up in face of a sell-off across the Street. In the same period, the stock has given slightly positive returns of 1.3 per cent. READ MORE

2:16 PM

Hotel stock investors fear June quarter due to coronavirus impact

With stringent curbs on foreign tourists’ travel by India up to April 15 due to coronavirus, stocks of major hotel players like Indian Hotels, Lemon Tree Hotels, Chalet Hotels and EIH, among others plunged by 10-20 per cent in Thursday’s trading session and hit their 52-week or all-time low. READ MORE

2:13 PM

BSE500 stocks that hit 52-week low today

COMPANY	PRICE(rs)	52 WK LOW	CHG(%)
3M INDIA	19951.00	17000.00	4.56
ACC	1159.00	1010.00	1.37
ADANI GAS	101.85	85.00	2.98
ADANI PORTS	283.80	234.55	-1.01
ADANI POWER	30.80	24.30	1.48

2:04 PM

MARKET COMMENT | Pankaj Pandey, head of research, ICICI Direct

We see the current correction as a buying opportunities for the investors who should utilise the declines to lap up the good businesses which have comfortable leverage, strong return ratios and enjoy leadership position. The allocation, however, can either be made in staggered or in lump sum, depending on investor’s risk appetite.

1:55 PM

European markets open higher

1:51 PM

MARKET UPDATE:: Sensex off highs

1:42 PM

Market Voice :: Shyam Sekhar on market recovery

1:37 PM

LIC to buy 1.35 billion shares of YES Bank at Rs 10 apiece: TV reports

As part of the YES Bank restructuring plan, Life Insurance Corporation of India (LIC) would buy around 1.35 billion shares at a price of Rs 10 apiece, according to a report by business channel CNBC-TV18. On Thursday, State Bank of India (SBI) had said it would infuse Rs 7,250 crore into ailing YES Bank to pick up to 49 per cent equity as part of the Reserve Bank of India-mandated bailout plan. READ MORE

1:36 PM

Covid-19 scare: Airline shares tumble up to 14%; IndiGo hits 52-week low

Shares of IndiGo and SpiceJet were trading with heavy losses.

 

InterGlobe Aviation, the parent of the country's largest airline IndiGo, saw its shares slump 14.08 per cent to hit 52-week low of Rs 875. READ MORE

1:12 PM

MARKET ALERT :: Sensex zooms over 1,800 pts

1:09 PM

MARKET ALERT :: Nifty reclaims 10,000-mark

1:08 PM

Expert Speak :: No need to panic, says Porinju Veliyath

1:05 PM

Nifty PSU Bank index up 10%