Bulls return to D-St after 6 days; Sensex up 642 pts, Nifty tad below 14750

Mood on D Street changed after Moody's Analytics said India's economy is likely to grow by 12 per cent in CY2021 following a 7.1 per cent contraction last year

3:57 PM

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index closed a day on a positive note at 14745 with gains of more than one per cent and formed bullish piercing candle pattern on the daily chart which stands for a bullish reversal. Once nifty cross above 14800 zone bullish piercing pattern will get active and we may see a good move towards immediate hurdle zone of 14900-15000, supports still at 14650-14580 zone holding above said levels structure can be positive

3:57 PM

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

The highly volatile domestic markets witnessed a smart recovery from its morning weakness and was swinging between gains and losses during the day owing to strong buying seen in FMCG, Pharma and Energy stocks. However, auto stocks were under pressure after the announcement of the government's new scrapping policy. The unsettling pace of U.S bond yields and a surge in COVID cases worldwide resulted in the global markets trading deep in red

 

3:52 PM

Stocks that lifted the Sensex today

3:50 PM

Sectoral trends on the NSE

3:48 PM

Sensex Heatmap at Close

3:37 PM

CLOSING BELL

Among the key headline indices, the 50-share barometer on the NSE closed above the 14,700-mark at 14,744 levels, up 186 points or 1.28 per cent. The 30-share benchmark Sensex, on the other hand, advanced 642 points, or 1.3 per cent, to end at 49,858 levels. In the intra-day deals, the Sensex and the Nifty touched 50,003 and 14,788, respectively jumping 1,416 and 350 points from day's low.

3:28 PM

Aarti Drugs advances 15% as board approves buyback at Rs 1,000 per share

The stock of the pharmaceutical company bounced back 17 per cent from the day’s low of Rs 670. At 03:00 pm; it was trading 10.5 per cent higher at Rs 755, as compared to a 1.4 per cent rise in the S&P BSE Sensex. Trading volumes on the counter jumped an 10-fold with a combined 6.9 million equity shares changing hands on the NSE and BSE. READ MORE

3:18 PM

Burger King, PVR: Avoid these stocks as India sees second wave of Covid-19

Even before completing one year of Covid-19 lockdown, announced on March 24, 2020, India is seeing Covid-19 related restrictions including night curfews across various states, and mandatory institutional quarantine after inter-state travels back in place. In a recent turn of events, the Bombay Municipal Corporation (BMC) on Friday ordered mandatory negative (COVID) test reports for mall visitors in Mumbai. READ MORE

3:06 PM

Strong rebound! Sensex jumps over 700 points

2:53 PM

Godrej Properties hits 7-week low; shares fall below QIP price of Rs 1,450

Shares of Godrej Properties (GPL) slipped 5 per cent to hit a seven-week low of Rs 1,273 on the BSE in Friday's intra-day trade, extending its decline to 17 per cent thus far in the month of March. The stock of Mumbai-based real estate developer was quoting lower for the sixth straight trading day. It has corrected 19 per cent from its 52-week high level of Rs 1,573 touched on March 1 and was currently trading at its lowest level since February 1. READ MORE

2:53 PM

NEWS ALERT :: Aarti drugs approves buyback at Rs 1000/share

The Buyback of up to 6,00,000 fully paid-up equity shares of face value of Rs. 10/- (Rupees Ten only) each of the Company, representing up to 0.64% of the total number of equity shares, at a price of Rs. 1,000 per share (including premium of Rs. 990/- per Equity Share) payable in cash for an aggregate amount of up to Rs 60 crore.

Click here for details

2:46 PM

India's economy may grow at 12% in 2021: Moody's

India's economy is likely to grow by 12 per cent in CY2021 following a 7.1 per cent contraction last year, as near-term prospects have turned more favourable, Moody's Analytics said.

 

A stronger than expected December quarter GDP growth of 0.4 percent following a 7.5 percent contraction in the previous three months has turned India's near-term prospects more favourable, it said.

Moody's saw real GDP growth of 12 percent in the 2021 calendar year, partially due to a low base-year comparison.

(Source: PTI)

2:37 PM

Market Check :: Sensex extends gains, rises over 500 points

2:31 PM

Stelis Biopharma raises $195 mn for vaccination unit, contract business

The company will use the money to scale up its vaccine unit in Bengaluru to cater to multiple vaccine types including viral vector, protein subunit, RNA and DNA. The unit will manufacture up to 800 million doses of vaccines annually, including Covid-19 vaccines. The company will also use the money for its contract manufacturing business, including ramping up a process development lab, other technical capabilities and debt servicing. READ MORE

2:24 PM

MARKET UPDATE:: RIL, ITC among top contributors to Sensex's gain today

2:12 PM

Bond market update :: US Treasury yield declines

US 10-year bond yield dips sharply to 1.67% vs yesterday's high of 1.75%

2:11 PM

Why a ban on cryptocurrency could have dire consequences for India

In the 1970s and 80s, at the height of what was known as the License Raj, Indians could only hold foreign currency for a specific purpose and with a permit from the central bank. If a businessman bought foreign exchange to spend over two days in Paris and one in Frankfurt, and instead spent two days in Germany, the Reserve Bank of India would demand to know why he’d deviated from the currency permit. Violators were routinely threatened with fines and jail time of up to seven years. READ MORE

1:59 PM

European markets check

(Source: Reuters)

1:47 PM

Pharma stocks trade largely higher in an otherwise volatile market

Company	LATEST(rs)	CHG(%)
Biocon	395.60	1.57
IOL Chemicals	576.45	-0.26
Granules India	307.05	0.29
Aurobindo Pharma	821.60	1.83
Sun Pharma.Inds.	577.75	0.57

1:42 PM

Progress on BPCL privatisation, but need for further clarity: Fitch Ratings

Fitch Ratings on Friday said there is more visibility on BPCL privatisation, but there is still little information on potential restrictions for the new owner in relation to employee protection, asset stripping, and investment lock-in. Also, there is a need for further clarity on the future of subsidies paid to BPCL's customers on the sale of LPG and kerosene as well as the freedom on the pricing of petrol and diesel before the divestment can conclude, it said. READ MORE

1:33 PM

Sector Watch :: Nifty FMCG index best sectoral performer

1:27 PM

BOJ widens yield target band, pledges to buy risky assets only when needed

The Bank of Japan on Friday widened the band at which it allows long-term interest rates to move around its target, as part of a raft of measures to make its ultra-easy policy more sustainable amid a prolonged battle to fire up inflation. Following its two-day policy meeting, the central bank also removed its explicit guidance to buy exchange-traded funds (ETF) at an annual pace of roughly 6 trillion yen ($55 billion), which gives it more room to wind back its market stimulus. READ MORE

1:15 PM

Stove Kraft tumbles for 10th straight day, down 26% from March high

Shares of recently-listed household appliances company Stove Kraft were trading lower for the 10th straight day, down 6 per cent at Rs 407 on the BSE in intra-day trade on Friday on the back of heavy volumes. With today’s decline, the stock has slipped 26 per cent from its high of Rs 547 touched on March 3. It had hit a low of Rs 406.95 on February 8. Currently, the stock was trading 6 per cent higher over its initial public offer (IPO) issue price of Rs 385 per share. READ MORE

12:59 PM

P-notes investment climbs to 33-month high at Rs 91,658 crore in Feb

Investments through participatory notes (P-notes) in the Indian capital market rose to Rs 91,658 crore at February-end, making it the highest level in 33 months, suggesting growing confidence of overseas investors. According to Sebi data, the value of P-note investments in Indian markets -- equity, debt and hybrid securities increased to Rs 91,658 crore in February-end from Rs 84,916 crore at January-end. READ MORE

12:54 PM

IPO Update

Suryoday SFB IPO subscribed 1.32 times so far

Nazra Technologies subscribed 20 times so far

 

(Both issues close today)

12:40 PM

How to trade these travel-related stocks?

After suffering a lull, on account of the Covid-19 restrictions, those in the travel business are looking to bounce back on the back of a pent-up demand from domestic travellers during summer vacation. The trend offers some succor to the tourism sector that saw business getting scorched by the pandemic. READ MORE

12:30 PM

Accenture Q2FY21 earnings: Five ways in which it can impact Indian IT

Shares of most information technology (IT) companies reversed losses and were trading on a firm note on Friday, taking strength from a strong show put up by Accenture in the second quarter of the financial year 2021 (FY21). While Accenture's robust results bode well for the technology companies, a broad-based weakness in the markets kept a few index heavyweights under pressure. READ MORE

12:24 PM

Bharat Dynamics in focus

>> Firm enters into contract with Defence Minstry

>> Agreement to supply of 4,960 MILAN-2T Anti-Tank Guided Missiles (ATGMs) to Indian Army for Rs 1,188 crore. 

 

>> This is a ‘Repeat Order’ of contract, which was signed with co on March 08, 2016
 

12:15 PM

Rupee becomes only Asian currency to gain in month of sweeping losses

India’s rupee is the only currency in Asia to strengthen amid this month’s rout in risk assets, thanks to a spree of share-sale offers that are luring foreign investors. The rupee has advanced 1.3% in March, boosted by $2.4 billion of overseas purchases of local stocks, including inflows related to initial public offerings. Nine share-sale offers worth about 59 billion rupees ($813 million) this month would have added to one of the highest inflows into emerging Asia, according to Emkay Global Financial Services Ltd. READ MORE

12:07 PM

Indo Count Industries shares soar 12% on Rs 200-crore capex plan

Shares of Indo Count Industries advanced 12 per cent to Rs 128 on the BSE on Friday after the textile company announced expansion and modernisation projects of existing capacities with capital expenditure (capex) of Rs 200 crore. The total capex will be funded by a mix of internal accruals and debt and is expected to be operational in H2 (October-March) of FY2022. READ MORE