MARKETS: Sensex pares gains, ends just 62 pts higher; YES Bank surges 36%

All that happened in markets today

4:16 PM

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

Global impact of coronavirus which is still spreading at high rate in countries other than China and collapse of oil prices are having a catastrophic effect. Rate cuts and stimulus measures are not working at the time being. Even though risk concerns continue to remain elevated, inflow into domestic equity mutual fund surged to highest level in 11 months indicating investor confidence on a long-term perspective. Going ahead rate sensitive stocks are likely to remain focused as consensus estimate show CPI inflation for the month of February eased to 6.80 per cent. But market expects RBI to cut rate in the next policy

3:45 PM

SECTOR WATCH | Gainers and losers on the NSE

3:40 PM

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

3:35 PM

CLOSING BELL

The S&P BSE Sensex ended at 35,697, up 62 points or 0.18 per cent while NSE's Nifty ended at 10,458, up 7 points or 0.06 per cent. 

3:25 PM

BUZZING STOCK | YES Bank jumps over 36%

3:14 PM

MARKET CHECK

3:05 PM

Financial firms worldwide ramp up contingency plans as coronavirus hits

The steps including telling staff who had been exposed to someone with the virus to self-quarantine for 14 days, splitting operations so that some staff work from home or back-up locations and deep cleaning offices.

 

Barclays told staff on Tuesday that a trading floor employee in its Midtown Manhattan office tested positive for the virus and told employees who worked near or met with the individual to self-quarantine, according to a memo seen by Reuters. READ MORE

2:53 PM

PVR, Jubilant FoodWorks: Consumer-centric stocks to feel COVID-19 heat

The spread of Coronavirus (Covid-19) in India is likely to impact businesses of consumer-centric companies such as multiplex, entertainment, and restaurant chains in the near-term as people refrain from assembling in public places as a precautionary step. Moreover, preventive measures by some state governments may also add to their woes. READ MORE

2:49 PM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(%)
VODAFONE IDEA	4.37	9.25
YES BANK	27.25	28.24
RELIANCE POWER	1.45	-3.97
RELIANCE INDS.	1162.30	4.42
TATA MOTORS	100.00	-5.48

2:46 PM

Heatmap: S&P BSE Sensex

2:29 PM

Index Contributors at this hour

2:20 PM

Sharp profit downgrades for Tata Motors on weak Jaguar Land Rover outlook

Tata Motors shed 7.4 per cent on Monday in a weak market on worries of sluggish Jaguar Land Rover (JLR) sales in China and volume decline in the commercial vehicles portfolio in India. JLR reported an 85 per cent year-on-year fall in China retail sales in February because of the impact of the coronavirus epidemic. READ MORE

2:10 PM

Rupee check

2:04 PM

Tata Steel extends losses, slips 7%

2:03 PM

Saudi Aramco to raise oil output by 1 mn bpd as price war escalates

Energy giant Saudi Aramco said Wednesday it plans to raise its production capacity by one million barrels per day to 13 million bpd as a price war with Russia escalates.

 

"Saudi Aramco announces that it received a directive from the ministry of energy to increase its maximum sustainable capacity from 12 million bpd to 13 bpd," the company said in a statement to the Saudi Stock Exchange.

1:53 PM

MARKET UPDATE:: Sensex climbs off high

1:49 PM

BSE500 stocks that hit 52-week low today

COMPANY	PRICE(rs)	52 WK LOW	CHG(%)
ACC	1226.40	1216.10	-1.56
ADANI PORTS	322.90	316.30	0.37
APOLLO TYRES	116.65	116.35	-7.97
ARVIND FASHIONS.	307.55	297.00	-0.92
ASHOKA BUILDCON	77.55	76.45	-2.76

1:38 PM

European markets open

>> FTSE opens 1.35% higher

>> DAX gains 1.66% in opening deals

>> CAC rises 2% at open

1:28 PM

Broader markets underperform benchmarks

1:14 PM

Crude check

>> At 1:13 pm, Brent Crude Future was at $36.63/bbl, down 1.6%

>> US WTI was at $33.74 per barrel-mark, down 1.8%

1:01 PM

Oil price drop, valuation comfort: Time to buy in this market correction

The sharp correction in the markets over the past few sessions on account of global cues and developments back home have put the overall market valuation in an attractive zone and investors with a long-term view on equities can use this opportunity to buy, say brokerages. On a year-to-date basis, the benchmark Nifty is down around 14 per cent. Last time, it had dropped more during the period under consideration was in 2011, when the European debt crisis had dampened global investor sentiment. READ MORE

12:48 PM

MARKET UPDATE:: Nifty reclaims 10,500

12:47 PM

MARKET CHECK:: Sensex extends gains

12:42 PM

YES Bank gains over 30% for second straight day, up 424% from Friday's low

Shares of YES Bank rallied over 30 per cent for the second straight day and surged 39 per cent to Rs 29.60 on the National Stock Exchange (NSE) on Wednesday. YES Bank's stock price has surged a mammoth 424 per cent from Friday’s low of Rs 5.65, after the government-owned State Bank of India (SBI) said it will pick a 49 per cent stake in the troubled private lender as part of a revival scheme framed by the Reserve Bank of India (RBI). READ MORE

12:36 PM

NEWS ALERT | Bank of England cuts interest rate by 50 bps to 0.25%: CNBC TV18

12:28 PM

ONGC, GAIL extend fall as oil price crash cast shadow on earnings prospects

The virtual break-up of the Organization of the Petroleum Exporting Countries (OPEC)-Russia alliance amid the Covid-19 disruption led to oil prices crashing to the $ 30s.

 

Lower oil prices would likely lead to a direct reduction in the earnings for ONGC, Oil India and GAIL, while gas economics also become unfavorable. The upstream, furthermore, will see material earnings decline and GAIL’s US LNG margins and LPG realization may also suffer, analysts believe. READ MORE

12:14 PM

Eye on equity-linked debentures as volatility spikes in Indian markets

Instruments whose pay-outs depend on equity market levels are likely to be closely watched amid the carnage in global and local markets. The Indian market saw its steepest fall in five years even as fears of coronavirus spreading continued amid a crash in crude oil prices. A price war roiled global oil markets as Saudi Arabia and Russia sparred over oil production. Saudi Arabia steeply cut oil prices and crude prices fell around 30 per cent. READ MORE

12:02 PM

Private banks gain

COMPANY NAME	LATEST	HIGH	CHG(%)
YES BANK	27.70	28.75	30.35
HDFC BANK	1108.00	1113.55	0.68
RBL BANK	230.05	238.95	10.71
ICICI BANK	467.00	470.90	2.15
IDFC FIRST BANK	34.20	34.50	3.32

11:55 AM

BUZZING STOCK:: Hero MotoCorp rises over 4%

11:48 AM

FEBRUARY MUTUAL FUND DATA | Net equity inflow up 42% (MoM) at Rs 10,730 cr

-- Balanced fund outflow at Rs 1,182 cr vs Rs 1,260 cr outflow 

-- Liquid fund outflow at Rs 43,825 cr vs Rs 59,682 cr inflow

-- ETF inflow at Rs 16,344 cr vs Rs 1,873 cr inflow

-- Credit risk outflow at Rs 637 cr vs Rs 1,215 cr outflow

-- Total AUM at Rs 27.23 trillion vs Rs 27.85 trillion

-- SIP inflow at Rs 8,513 cr vs Rs 8,532 cr