MARKET WRAP: Sensex ends 232 pts higher as financials, auto stocks rally

All that happened in the markets today

4:02 PM

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

"Markets were volatile as 9,100 levels held out as a key support for the Nifty in a day of mixed gains for its constituents. Financials led the gains, in anticipation of stimulus measures while FMCG, bluechip IT stocks and OMCs disappointed. The volatility in the indices is expected to continue as investors look out for trading cues in the form of stimulus measures by the government and global market trends".

3:39 PM

Sectoral trends on NSE at Close | FMCG stocks dip

3:38 PM

Sensex Heatmap at Close | 20 of 30 constituents end in the green

3:37 PM

CLOSING BELL | Indices snap 2-day losing streak

>> The benchmark S&P BSE Sensex closed at 31,685.75 levels, up 232.24 points or 0.74% 

>> NSE's Nifty50, meanwhile, closed at 9,270.90 mark, up 65.30 points or 0.71%.

3:29 PM

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

3:25 PM

Virus-hit German industrial orders fall at record rate, outlook grim, reports Reuters

Orders for German industrial goods fell in March at their steepest rate since records began in 1991 as demand collapsed due to the coronavirus epidemic, and prospects of a swift recovery in Europe’s biggest economy look bleak.

3:18 PM

NEWS ALERT :: Govt puts SUUTI stake sale on the back burner for now, reports CNBC TV18 quoting sources

3:17 PM

NEWS ALERT | Issues of airlines under discussion: Aviation Minister

(as reported by CNBC-TV18)

3:14 PM

MARKET UPDATE | M&M surges 5%

3:05 PM

Revenue bites: IT firms go aggressive on cost-cutting amid Covid-19 crisis

With growth slowing and demand environment uncertainty compounded by the Covid-19 pandemic, Indian information technology (IT) services majors are leaving no stone unturned to ensure their bottom lines remain least affected — at least in the short to medium term. READ MORE

3:01 PM

NEWS ALERT | April has been a complete washout, says Kansai Nerolac

>> May not see revival in decorative category in May

2:54 PM

NEWS ALERT | Kansai Nerolac reports 23.5% drop in net profit at Rs 65.4 cr vs 85.4 cr YoY

2:54 PM

NEWS ALERT | Kansai Nerolac announces dividend worth Rs 3.15/sh

2:50 PM

NEWS ALERT | SBI allows moratorium to NBFCs on case-to-case basis: sources to CNBC TV18

>> NBFCs seeking moratorium will be asked to present cash budget

>> SBI will consider credit support and moratorium on case-to-case basis

>> At least 25 NBFCs have reached out to SBI for additional loans

2:39 PM

Axis Securities on Consumer Durables & Electricals

Covid-19 will have significant near and medium term implications on growth and earnings of consumer durables and hence our estimates bake in ~50% EPS compression in FY21 only to be recouped in FY22 –implying forgoing of 2 years of compounding. While the sector has corrected 15-18% over the last 2 months, the extent is not enough – it still underappreciates the severity of the earnings cut and demonstrates no multiple compression.
 

2:33 PM

Top losers on BSE today

COMPANY	PRICE(rs)	CHG(%)	VOLUME
ITC	162.45	-6.58	1880941
SECURITY & INTEL	375.65	-6.04	2084
SUNTECK REALTY	169.30	-5.66	11116
H P C L	202.75	-5.54	991819
BHARTI INFRA.	161.55	-5.17	229931

2:27 PM

China's exports, imports set to post double-digit declines in April: Report

Shipments out of China are likely to have fallen 15.7 per cent in April from a year earlier, according to a median estimate from the survey of 28 economists, far worse than a 6.6 per cent contraction in March. Exports contracted by 17.2 per cent in the first two months of the year.

 

Imports, meanwhile, are expected to have shrunk 11.2 per cent from a year earlier, the sharpest drop since July 2016 and versus a 0.9 per cent fall the previous month as domestic demand remained tepid. READ MORE

 

2:21 PM

MARKET UPDATE:: Sensex off day's high

2:15 PM

Life Insurance stks in focus; ICICI Prudential Life, SBI Life gain up to 7%

Analysts believe that the overall insurance penetration in India is likely to rise post-Covid-19 scenario with individual as well as corporate customers becoming more cautious toward such crisis. They also remain certain that demand for pure protection is tend to rise, with individual customers getting more educated toward the risk that such insurance covers. READ MORE

2:14 PM

NEWS ALERT | UP govt to hike excise duty on fuel and liquor

>> Diesel prices to go up by Re 1/L
>> Petrol prices to go up by Rs 2/L

(as reported by CNBC TV-18)

2:08 PM

NEWS ALERT | Adani Ent net profit slips 78.5% YoY to Rs 61.2 cr vs Rs 283 cr

2:07 PM

RUPEE CLOSING | Rupee ends at 75.75 against Tuesday's close of 75.62 vs US dollar

2:02 PM

Private equity players see new business opportunities in post-Covid world

Private equity (PE) players are seeing a growing business opportunity post Covid-19 in providing long-term credit lines to Indian companies, with banks and non-banking financial companies (NBFCs) reluctant to offer loans.

 

Currently, the PE exposure in credit is limited and constitutes less than a 2 per cent share of the overall credit offered to industry. Only a few players such as KKR, AION Capital, SSG, and Edelweiss offer the product. READ MORE

1:52 PM

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

1:46 PM

NEWS ALERT :: L&T raises Rs 1,450 crore via non-convertible debentures

1:40 PM

Bajaj Finance recovers 6% from day's low

1:36 PM

BUZZING STOCK | Bharti Airtel jumps over 4%

1:28 PM

European stocks largely lower in early deals

(Source: Reuters)

1:26 PM

BROKERAGE VIEW:: Anand Rathi Shares on Specialty Chemicals

Despite the recent major drops in the market, no material impact has been seen on valuations of specialty chemicals companies. The sector quotes at an average 29.1x FY20e PE and 19.4 EV/EBITDA. We are inclined toward Aarti (TP Rs 1,200), Atul (TP Rs 5,550), Navin Flourine (TP Rs 1,800), Neogen Chemicals (TP Rs 500), Fine organics (TP Rs 2,500) and Vinati Organics (TP Rs 1,350).

1:16 PM

Set up special vehicle to give liquidity to MF: Group tells central bank

"...Banks have provided liquidity to the AAA segment of the market and not to (the entire) space, which is stressed and facing liquidity issues. After the announcement of winding up of schemes of Franklin Templeton, the RBI announced further liquidity measures to provide liquidity to mutual funds, but this, too, has been provided via the banks,” the distributor body said in its representations to the central bank, the Securities and Exchange Board of India (Sebi), and the finance ministry. READ MORE