MARKET WRAP: Sensex drops 855 pts from day's high on broad-based sell-off

All that happened in the markets today

4:08 PM

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

"Nifty again witnessed profit booking and resistance at its 100-DMA levels, which is around 10,300 and has been a crucial level for the index. The indices finally ended down by 1.3%. Banking index was the top sectoral loser and bluechip private banks contributed most to the losses in the benchmark indices. Our markets also seem to be driven by global cues and European markets opening in the red had an impact on our markets. US FOMC announcements tomorrow can have a bearing on the global markets."

3:45 PM

SECTOR WATCH:: Pharma stocks bucked the trend; Nifty Pharma index up nearly 2%

3:43 PM

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

3:36 PM

CLOSING BELL

The S&P BSE Sensex slipped 414 points or 1.2 per cent to 33,957 levels while NSE's Nifty ended at 10,047, down 121 points or 1.19 per cent. 

3:29 PM

MARKET CHECK

3:24 PM

MARKET UPDATE:: ICICI Bank slips over 3.5%

3:15 PM

INDEX LOSERS:: RIL declines over 2%

3:06 PM

Broader market check :: Midcaps outperform; S&P BSE MidCap index down 0.3%

2:58 PM

HEATMAP:: Bajaj Finance, HDFC Bank top drags on Sensex at this hour

2:53 PM

Internet speed to traffic data: What weekly indicators say about economy

Analysts began to track similar numbers after the lockdown in China, where the coronavirus outbreak is believed to have emerged from. Usual macroeconomic indicators, like trade and gross domestic product numbers, are often released after a gap and even then available only monthly or quarterly. The use of higher frequency indicators, like internet speed, has gained traction as a means of assessing the fast-changing situation on the ground. READ MORE

2:47 PM

Nifty Bank plunges around 750 points from day's high

2:37 PM

MARKET UPDATE :: Sharp slide in indices; Nifty below 10,100

2:26 PM

Fall from intra-day high today

COMPANY	DAY'S HIGH(RS)	DAY'S LOW(RS)	LATEST(RS)	FALL(%)
VODAFONE IDEA	12.49	9.41	10.23	-18.09
RELIANCE INFRA.	25.40	21.60	21.70	-14.57
PRISM JOHNSON	50.30	43.00	43.55	-13.42
CHALET HOTELS	172.95	151.60	152.55	-11.80
SWAN ENERGY	126.00	112.40	112.60	-10.63

2:23 PM

MARKET UPDATE :: Sensex skids over 200 pts

2:18 PM

Exide Ind lags smaller peer Amara Raja in Q4 and FY20 at operational level

The stock of Exide Industries slid over 8 per cent on a weaker-than-expected performance in the March quarter (Q4). The firm is also trailing its smaller peer Amara Raja in Q4 as well as in FY20 at the operating level. The country’s largest lead acid player saw a 21 per cent dip in revenues over the year-ago quarter, largely from a sharp decline in demand from auto makers. Moreover, its inverter business has been hit in Q4, which is usually considered as a seasonally strong one, because of the Covid-19 outbreak. READ MORE 

 

2:14 PM

Rupee closing

Rupee ends lower at 75.61/$ vs Monday's close of 75.54 against the US dollar

2:04 PM

Nifty PSE index slips nearly a per cent; PFC, GAIL, BPCL decline up to 3%

1:57 PM

Sector Watch :: Nifty Realty index trades 1% higher

1:47 PM

BUZZING STOCK:: BHEL extends gains, jumps 7%

1:35 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ADANI GREEN	312.75	312.75	4.98
DHANUKA AGRITECH	602.00	619.00	3.93
DR REDDY'S LABS	4118.65	4140.90	3.83
GMM PFAUDLER	4457.85	4488.75	4.29
LUPIN	921.90	930.50	2.36

1:29 PM

NEWS ALERT | BHEL commissions 270 MW thermal power plant in Telangana

1:19 PM

BROKERAGE VIEW:: ICICI Securities on Relaxo Footwears

Relaxo Footwear over the years has maintained balance sheet prudence with controlled working capital cycle (NWC days: 65 days), healthy asset turns of 2.5x and generating RoCE of 20%+. With earnings in short-term expected to be negatively impacted (particularly H1FY21E), Relaxo through its strong balance sheet and brand patronage is expected to tide over the current situation. We bake in revenue, EBITDA CAGR of 10%, 15%, respectively, in FY20-22E. The stock saw a sharp run up last month (up 25%) and is currently trading at rich valuations (56.3x FY22E EPS). We continue to remain structurally positive on the stock and its long term growth prospects but post the recent stock price flare up, we downgrade a notch from BUY to HOLD with a target price of Rs 715 (earlier: Rs 775). We would prefer to await better entry points at lower levels from a long term holding perspective.

1:10 PM

MARKET UPDATE :: Volatile trade today; Sensex up 50 pts now

1:04 PM

European shares mixed in early deals

(Source: Reuters)

12:55 PM

Sector Watch :: Nifty Energy index dips 0.5%

12:43 PM

Cloud over Franklin Templeton's wind-up move amid legal challenges

On Monday, the Delhi High Court (HC) issued notice to Franklin MF, the Securities and Exchange Board of India (Sebi), following a writ petition filed by an investor challenging the wind-up notice and the subsequent e-voting notice issued by the fund house.

 

The petition challenged Franklin MF’s contentions that cited the Covid-19 pandemic for the wind-up move and that this was the only viable option to preserve value for the unitholders. READ MORE

12:34 PM

NEWS ALERT | GST collections for biz activities in April 2020 at approx Rs 49,500 cr till June 5: CNBC TV18

12:33 PM

ITC advances 4%, hits over 3-month high; stock surges 30% in one month

Shares of ITC hit an over three-month high of Rs 206 on the BSE, up 4 per cent on Tuesday in the intra-day trade. The company recently acquired Kolkata-based Sunrise Foods, a packaged spice maker with strong presence in East India. In the past one month, the stock of fast moving consumer goods (FMCG) company has rallied 30 per cent, as compared to 10 per cent rise in the S&P BSE Sensex. The stock was trading at its highest level since February 25, 2020. READ MORE

12:26 PM

NEWS ALERT | Sun Pharma promoter released pledge on 28.5 lakh shares on June 5: CNBC TV18

12:23 PM

After 16% rally in three weeks, analysts turn cautious on small-caps

Of the 685 stocks from the smallcap index, more than half or 429 stocks beat the index by gaining over 16 per cent during the period. Total 241 stocks have rallied an over 25 per cent in the past three weeks. Of these five stocks – Khadim India, IFCI, Sintex Industries, LT Foods, and SREI Infrastructure Finance – have surged over 70 per cent, while 39 stocks soared in the range of 50 per cent to 70 per cent. READ MORE