MARKET WRAP: Sensex snaps 7-day losing streak, gains 480 pts; metals shine

All that happened in markets today

4:01 PM

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

Comments by central bank officials over possible policy initiatives to curtail economic impact held markets positive across the globe. Broad-based momentum was witnessed in Metals and Pharma while the strong dollar held IT stocks higher. With nations across the globe taking precautions over the virus,  further long-term economic impact looks minimal.

3:47 PM

SECTOR WATCH | All sectoral indices on the NSE end in the green

3:46 PM

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

3:39 PM

CLOSING BELL

The S&P BSE Sensex rallied 480 points or over 1 per cent to end at 38,624 while NSE's Nifty50 index ended at 11,303, up 170.5 points or 1.53 per cent. 

3:23 PM

MARKET CHECK

3:10 PM

NEWS ALERT | Tatas makes ad hoc payment of Rs 2,000 cr on account of AGR dues: sources to CNBC TV18

3:09 PM

STOCK ALERT :: 3.9% equity exchanged

>> 80 lakh shares worth Rs 257 cr trade on BSE & NSE at Rs 320-325/sh

3:06 PM

Market check | Sensex witnesses yet another choppy session

3:00 PM

Global Markets Check

>> Global stocks and commodity markets extended a tentative recovery from their coronavirus slump on Tuesday, as global policymakers signalled a united front to address the economic fallout from the spreading outbreak.

>> Europe’s main bourses climbed 2 per cent or more in early trade in London, Frankfurt, Paris and Milan. MSCI’s world stocks index rose 0.5 per cent.

>> MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.8 per cent higher, off earlier highs but still marking the second straight session of rises.

>> Japan’s Nikkei lost steam and closed 1.2 per cent lower after short-covering ran its course and as the yen firmed on the dollar, but South Korea’s Kospi rose 0.6 per cent. Australian shares ended up 0.7 per cent after the central bank cut interest rates to a record low of 0.5 per cent, the fourth reduction in less than a year.

(As reported by Reuters)

2:53 PM

Index Contributors at this hour

2:44 PM

NEWS ALERT | No need to panic: PM Modi on Coronavirus Outbreak

2:41 PM

NEWS ALERT | Voda Idea makes partial payment towards AGR: PTI

2:37 PM

TVS Motor hits over 4-mth low; falls 6% in two days post February sales nos

The stock was trading at its lowest level since October 17, 2019. In the past one month, it has underperformed the market by falling 13 per cent in line with auto index, as compared to 4 per cent decline in the S&P BSE Sensex. READ MORE

2:13 PM

NEWS ALERT | Closely monitoring global, domestic development w.r.t Coronavirus: RBI

2:10 PM

Australia's central bank cuts rates to shake off virus fears: Reuters

Australia’s central bank cut interest rates to record lows on Tuesday in what is expected to be the first in a spate of policy stimulus around the world to fight the economic fallout from the coronavirus. 

2:04 PM

MARKET CHECK | Top gainers on the BSE at this hour

1:58 PM

NEWS ALERT | Reliance Capital defaults on interest payments to two lenders

1:54 PM

NEWS ALERT | PNB Housing Fin approves raising Rs 1,700 cr via QIP: BSE filing

1:48 PM

NEWS ALERT | DoT to issue letter on difference b/w AGR calculation and dues received: sources to CNBC TV18

>> Except Tata Teleservices, no other co has submitted AGR calculation

>> DoT, so far, has received about Rs 24,000 cr for AGR dues

>> Voda Idea, Airtel yet to submit calculations

1:44 PM

NEWS ALERT | YES Bank approaches domestic financial institutions for investment: sources to CNBC TV18

>> Domestic institutions include SBI, Axis Bank, HDFC, LIC

>> Foreign investors, including Tilden, JC Flower, wanted preference issue below Sebi-formula price

>> Foreign investors working on Pref + Rights issue to bring the amount lower

>> Investors not sure if RBI will allow ownership beyond 74%

>> RBI may want foreign investors to have lock-in period

1:37 PM

MARKET CHECK

1:26 PM

SBI Cards IPO :: Issue subscribed 58% so far

1:24 PM

Decent growth in February volumes unlikely to fire up Coal India's stock

Even as markets were choppy on Monday, a decent growth in February coal volumes lifted Street sentiment towards Coal India’s stock pushing it up by over a per cent. The company had consistently reported a decline in volumes during the first half of FY20. READ MORE

1:10 PM

Coronavirus Update | 6 new cases with high viral load being tested in Agra, says Govt

1:07 PM

Currency Check | Rupee hits 73/$-mark

Source: Bloomberg

1:00 PM

NEWS ALERT | Lenders begin final voting on resolution of 3 ADAG cos: CNBC TV18

>> SBI-led consortium may recover 35% of dues from Rel Comm, Rel Infratel, Rel Telecom 

>> SBI likely to have voted in favour of resolution plan

>> The three cos' principal amount is outstanding at Rs 40.991 cr

12:49 PM

Bandhan Bank: Risks haven't subsided, negatives still outweigh positives

While the news seems to have helped Bandhan’s stock — which is down 2.6 per cent since last Tuesday, versus a 5.3 per cent fall in the Sensex — it is still down by over 22 per cent year-to-date because of concerns over slowing growth and asset quality. Signs of these were visible in its December quarter (Q3) results. READ MORE

12:41 PM

NEWS ALERT | India restricts exports of several API, drug formulations: Bloomberg

>> DGFT issues notification restricting export of 26 APIs, reports CNBC TV18

Alert: DGFT is Directorate General of Foreign Trade

12:40 PM

BROKERAGE RADAR | Prabhudas Lilladher on Hindalco Industries

Rating: BUY | CMP: Rs 151 | TP: Rs 220

Hindalco (HNDL) fell 16% in last one week, factoring in unrealistic scenario of demand and price collapse due to Covid-19 virus outbreak. The fall overlooks

strong quality of Novelis and resilient domestic operations. Admittedly, impending acquisition of Aleris would increase debt by USD2.6bn. However, diversified product mix and improvement in spreads presents better earnings outlook for Aleris. Given the attractive valuations due to fall in stock price, we upgrade HNDL to BUY with TP of Rs 220, EV/EBITDA of 6x FY21e.

12:31 PM

NEWS ALERT | Indian Railway Finance Corp gets Sebi's nod for IPO