You are here: Home » Markets » News
Business Standard

Market Wrap, April 8: Here's all that happened in the markets today

The S&P BSE Sensex shed 173 points or 0.58 per cent to 29,894 levels with TCS (down around 4 per cent) being the biggest loser

Topics
MARKET WRAP

BS Web Team  |  New Delhi 

Equity market ended Wednesday's volatile session in the negative territory as coronavirus (Covid-19) cases continued to rise in India and the government gave the hint that the nationwide lockdown may get extended. Weak global cues, too, dented the sentiment.

The S&P BSE Sensex shed 173 points or 0.58 per cent to 29,894 levels with TCS (down around 4 per cent) being the biggest loser, followed by Titan, ICICI Bank, and SBI. Drug major Sun Pharma (up nearly 5 per cent), on the other hand, was the top gainer on the index.

On the NSE, benchmark index Nifty ended at 8,749, down 43 points or 0.49 per cent.

Broader market, however, outperformed the benchmark indices. The S&P BSE MidCap gained around 2 per cent to 10,976 levels and the S&P BSE SmallCap index rallied 1.86 per cent to 9,980.

On the sectoral indices, Nifty Realty index slipped the most - over 1 per cent to 180.50 levels. Nifty Metal and Nifty IT indices were next on the list. Nifty Bank shed 0.6 per cent to 18,946.45-mark.

In the forex market, rupee ended at a record low of 76.34 against the US dollar.

Buzzing stocks

Shares of Cadila Healthcare (Zydus Cadila) surged 17 per cent to Rs 367 on the BSE in the intra-day trade. The company today said that it has initiated an accelerated research programme with multiple teams in India and Europe developing a vaccine for the novel coronavirus, 2019-nCoV (COVID-19) based on two approaches. The stock ended at Rs 350, up 12 per cent.

Shares of Balrampur Chini Mills (BCML) were locked at the 5 per cent upper circuit for the nine straight day, at Rs 126.40, on the NSE after the credit rating agency Icra re-affirmed the credit ratings for both long-term and short-term. The outlook on the long term rating remained stable.

Among auto stocks, Ashok Leyland jumped 10 per cent to Rs 43.80 apiece on the BSE while Maruti gained over 3 per cent to Rs 4,697 even as the company informed that it had lowered production by 32.05 per cent in March.

Global Markets

World stocks turned negative on Wednesday as the coronavirus death toll mounted and euro zone finance minister failed to agree a rescue package to help economies recover from the impact of the outbreak. The pan-European STOXX 600 index dipped 0.7per cent. London’s FTSE 100 fell 0.9 per cent, as the country’s coronavirus death toll crossed 6,100. Germany’s DAX shed 0.8 per cent after rallying more than 8 per cent in the past two days, as the number of confirmed cases rose for a second straight day.

In commodity markets, oil steadied near $32 a barrel, supported by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices that have collapsed due to the coronavirus pandemic.

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
149.00  
subscribe
Complete access to the premium product
Convenient - Pay as you go
Pay using Master/Visa Credit Card & ICICI VISA Debit Card
Auto renewed (subject to your card issuer's permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART MONTHLY

Business Standard Digital

Business Standard Digital - 12 Months
1499.00
subscribe
Get 12 months of Business Standard digital access
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice - Credit/Debit Cards, Net Banking, Payment Wallets accepted
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • This product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, April 08 2020. 16:53 IST
RECOMMENDED FOR YOU
.