MARKET WRAP: Investors lose Rs 5.8 trillion as Sensex tumbles 2,002 points

All that happened in the markets today

4:09 PM

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

"In sync with global markets, the Indian benchmark indices lost around 5.6% with an increase in the volatility index by around 28%. Globally, rising trade war tensions between US – China and domestically, dire economic news added to the negativity. The extension of the lockdown and the fear that the economy and businesses will take longer to get back on track, impacted the markets. Indian market will continue to be driven by global news flow and domestic earnings commentary. "

3:48 PM

SECTOR WATCH | Nifty Pharma ends in the green

3:45 PM

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

3:37 PM

CLOSING BELL

The S&P BSE Sensex tanked 2,002 points or 5.94 per cent to 31,715 levels while NSE's Nifty50 ended at 9,293.50, down 566 points or 5.74 per cent. 

3:23 PM

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

3:13 PM

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

3:12 PM

Covid-19 lockdown: Petrol sales fell by 61% in April, diesel by 57%

State-owned oil marketing companies — Indian Oil Corp , Hindustan Petroleum Corp and Bharat Petroleum — own about 90 per cent of the country's retail fuel outlets. These retailers' petrol and diesel sales in the first half of April declined by 61 per cent and 64 per cent, respectively, as a nationwide lockdown to curb the spread of coronavirus brought economic activity to a standstill. READ MORE

3:03 PM

MARKET ALERT :: Jubilant Life Sciences, AU Small Finance, Finolex Cables, SpiceJet and Raymond among 361 stocks locked in lower circuit on the BSE

2:59 PM

Jhunjhunwala, FPIs, MFs hike stake in Rallis India; stock up 32% in 2020

Institutional investors, led by mutual funds and foreign portfolio investors (FPIs), bought an additional 2.8 million equity shares, or 1.45 per cent stake of Rallis India, in Q4FY20. Mutual funds' holding in the company increased to 15.01 per cent from 13.6 per cent, while FPIs' holding increased to 4.89 per cent from 4.41 per cent at the end of December 2019 quarter. READ MORE

2:53 PM

Covid-19 smashes Asia's factories; activity hits historic lows all over

A series of Purchasing Managers' Indexes (PMIs) from IHS Markit fell deeper into contraction from March, with some diving to all-time lows and others hitting levels last seen during the 2008-2009 global financial crisis.

 

Similar gauges out of Europe's largest economies due on Monday and later in the week are also expected to show dire global industry conditions. READ MORE

2:46 PM

BROKERAGE VIEW:: ICICI Securities on Music Broadcast

The radio segment continues to be steeply impacted by overall macroeconomic challenges as well as lower government spending. Covid-19 is a double whammy in this context and the next two quarters are expected to see a steep impact. The management is hoping for an ad growth revival from Q3 onwards, driven by festive period. Post 35% correction in last two months, we assign a BUY rating (vs. HOLD earlier) with a revised target price of Rs 18/share, as we bake in lower growth trajectory ahead.

2:41 PM

Earnings Alert | Adani Green Q4

>> Consolidated Net profit at Rs 96.4 cr Vs loss of Rs 94 cr in Q4FY19
 

>> Revenue up 2.2% at Rs 696 cr Vs Rs 681 cr YoY
 

>> Forex loss at Rs 292.5 cr Vs gain of Rs 2.2 cr YoY
 

>> EBITDA flat at Rs 449 cr

>> EBITDA margin at 64.5% Vs 66%
 

 

2:29 PM

Will cancel trade deal if China fails to buy goods worth $200 bn : Trump

During a virtual town hall from the Lincoln Memorial in Washington on Sunday (local time), Trump said that Chinese President Xi Jinping had only agreed to the deal because of the Washington-imposed tariffs which "at a minimum are the greatest negotiating tool that we have ever devised that we never use", South China Morning Post reported. READ MORE

2:21 PM

Sino-US trade war and other factors that fuelled 1,900-pt drop in Sensex

After posting its best monthly performance in 11 years last week, the domestic equity market came under pressure on Monday -- the first trading day of May -- amid a series of disappointing developments.

 

The benchmark S&P BSE Sensex plunged 1,806 points or over 5 per cent during the day with stocks such as HDFC Bank, HDFC, ICICI Bank, Infosys, and Axis Bank contributing the most to the index's fall. NSE's headline index, Nifty 50, dropped 508 points or over 5 per cent to 9,352.20 levels in intra-day deals. READ MORE

2:10 PM

Rupee closing

Rupee ends weaker at 75.71/$ vs Thursday's closing of 75.10 against the US dollar

2:07 PM

Bharti Airtel surges 11% in 3 days after signing 4G network deal with Nokia

Bharti Airtel was trading close to its all-time high level of Rs 569 touched on February 18, 2020. In comparison, the S&P BSE Sensex was down 5.2 per cent or 1,736 points at 31,981 at 01:40 pm. The trading volumes on the counter nearly doubled today, with a combined 25 million shares changing hands on the NSE and BSE till the time of writing of this report. READ MORE

1:58 PM

Covid-19 fallout: Finance Ministry sees FY21 economic growth at 2-3%

The Centre is yet to announce its new economic growth and budgetary estimates for 2020-21 (FY21) in light of the Covid-19 pandemic and the resultant lockdowns. But the Finance Ministry is internally projecting FY21 GDP growth to be around 2-3 per cent, down from the 6-6.5 per cent predicted in the 2019-20 Economic Survey, Business Standard has learnt. READ MORE

1:53 PM

MARKET UPDATE:: Sensex extends fall; index down over 1,800 points now

1:47 PM

BHEL soars 18% from day's low as 13 mn shares change hands via block deal

At 01:15 pm, the stock was trading 8 per cent higher at Rs 24.10, as compared to a 5.2 per cent decline in the S&P BSE Sensex. A combined 111 million shares, representing 3.2 per cent of total equity of the company, have changed hands so far on the counter on the BSE and NSE. The names of the buyers and sellers could not be ascertained immediately. READ MORE

1:39 PM

European stocks decline in early deals

1:27 PM

Investor wealth plummets Rs 5.15 trillion in early trade as Sensex plunges

Investors witnessed a wealth erosion of Rs 5.15 trillion in BSE-listed companies in morning trade on Monday tracking heavy selloff in the market, with benchmark Sensex plunging over 1,700 points.

 

The BSE barometer tanked 1,752.55 points to a low of 31,965.07 in early trading session, news agency PTI reported. READ MORE

1:15 PM

Nifty Pharma index an outlier among sectoral indices today

1:02 PM

RIL, HUL, Tech Mahindra: Here's how to trade these stocks post Q4 results

Index heavyweights Reliance Industries (RIL), Hindustan Unilever (HUL), and Tech Mahindra were trading in the negative territory on Monday post their March quarter results announcements, with Tech Mahindra taking the biggest knock.

 

The information technology (IT) services company on Thursday missed the profit estimates for Q4FY20 on higher employee costs and a one-time impairment charge even as the company said it was expecting a recovery in demand in the medium term. READ MORE

12:57 PM

Stocks that hit 52-week low on BSE today

COMPANY	PRICE(rs)	52 WK LOW	CHG(%)
ARVIND FASHIONS.	135.15	128.00	-2.77
BANK OF BARODA	46.30	45.50	-5.89
CHALET HOTELS	143.00	139.00	-3.54
D B CORP	72.25	71.00	-3.92
GODREJ INDS.	254.25	250.00	-3.88

12:53 PM

Rocky road ahead for auto exporters as demand woes may delay recovery

The NSE Auto index was the second-biggest gainer in April among Nifty sectoral indices. It was up 25 per cent over the last month with more than a fourth of those gains coming in a single trading session on Thursday. While all the automakers gained, top gainers among auto names were companies having high exposure to overseas markets. READ MORE

12:43 PM

NEWS ALERT | Cyclical NPA problem may turn into structural in 3-6 months: Saswata Guha of Fitch Ratings (India)

>> Doubling of NPAs is possible, but its not our base case

>> Bank loan growth could shrink

>> Banks showing 28% borrowers seeking moratorium

>> PSBs would need additional capital

(As told to CNBC TV18)

12:35 PM

NEWS ALERT | See Brent Crude rising to $55.63 per barrel in 2021, says Goldman Sachs

>> Lower crude production due to reduced activity and OPEC+ cuts, coupled with a partial recovery in oil demand, should drive prices higher next year, Goldman Sachs Equity Research said in a note.

>> The bank hiked its estimate for US West Texas Intermediate crude to $51.38 a barrel from $48.50 previously.

(Via Reuters)

12:30 PM

Essel Large Cap to Quant Mid Cap: Here're funds that beat their benchmarks

• The markets rebounded sharply in the month of April
• Only two large-caps (out of 32), six multi-cap (out of 35), and four midcaps (out of 26) were able to beat their benchmarks over the one-month period ended April, 30
• One reason for this is that when markets are falling, many fund managers move into cash to reduce the quantum of fall
• Such funds tend to lag their benchmarks because they are not fully deployed in the markets

12:22 PM

Equity scheme investors see relief on returns but likely to remain cautious

Equity mutual fund (MF) investors are seeing some relief on returns, with large-cap and mid-cap funds surging 13.6 per cent and 12.7 per cent, respectively, in April.

 

Industry participants, however, say the run-up in market prices may not be enough to improve the sentiment of investors. “More than the markets, concerns over monthly income and cash-flows are on investors’ mind, given the uncertainty surrounding the economy,” said Vidya Bala, co-founder of primeinvestor.in In the one-year period, the large-cap funds were down 14.06 per cent. READ MORE

12:18 PM

Bharti Airtel gains 3% in an otherwise subdued market