You are here: Home » Markets » News
Business Standard

Market Wrap, March 31: Here's all that happened in the markets today

Oil and gas stocks gained big during the day on sharp decline in the crude oil prices

Topics
MARKET WRAP

BS Web Team  |  New Delhi 

A surprise expansion in China's manufacturing activity in March lifted investor sentiment on Tuesday, thus leading to around 4 per cent rally in the benchmark indices. China’s official Purchasing Managers’ Index (PMI) rose to 52 in March from a collapse to a record low of 35.7 in February.

The S&P BSE Sensex gained 1,028 points or 3.62 per cent to settle at 29,468.49 on the last day of the financial year 2019-20 (FY20). Of 30 constituents, 26 advanced and 4 declined. FMCG major ITC (up around 8 per cent) emerged as the top gainer of the index. RIL (up around 8 per cent), ONGC (up 7.64 per cent), and Tata Steel (up over 6 per cent) were the other major gainers.

NSE's Nifty ended at 8,598, up 317 points or 3.82 per cent.

Oil and gas stocks gained big during the day on sharp decline in the crude oil prices. The S&P BSE Oil & Gas index rallied around 9 per cent to 10,021 levels. BPCL, HPCL, and GAIL were up in the range of 15-8 per cent.

FMCG and metal stocks too made decent advances. While the S&P BSE Metal index jumped over 5 per cent to 5,713 levels, the S&P BSE FMCG index added around 6 per cent to 10,255 levels. Among individual stocks, Nestle India rallied 5 per cent to Rs 16,425 in intra-day trade. The stock ended at Rs 16,289, up around 4 per cent.

Hindustan Unilever (HUL) hit its fresh 52-week high of Rs 2,311.85 in the intra-day session before settling at 2,298, up over 5 per cent.

On the other hand, IndusInd Bank tanked around 15 per cent to Rs 351 apiece on the BSE.

Volatility index India VIX slipped over 10 per cent to 64.49 levels.

In the broader market, the Nifty MidCap 100 index gained over 2 per cent to 11,704 and the Nifty SmallCap index rose over 3 per cent to 3,595 levels.

Global Markets

Asian shares were set to close out a calamitous quarter by eking out a small rally on Tuesday as factory data from China held out the hope of a revival in activity, even as much of the rest of the world shut down. China’s official manufacturing purchasing managers’ index (PMI) bounced to 52.0 in March, up from a record-low 35.7 in February and topping forecasts of 45.0.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.94 per cent but that still left it down 22 per cent for the quarter, its worst performance since 2008. Shanghai blue chips rose 0.4% and South Korea 1.87%. Japan’s Nikkei eased 1%, to be down 20% since the start of the year.

In commodity market, oil recovered ground on Tuesday after US President Donald Trump and Russian President Vladimir Putin agreed to talks to stabilize energy markets, with benchmarks climbing off 18-year lows hit as the coronavirus outbreak cut fuel demand worldwide.

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
199.00  
subscribe
Complete access to the premium product
Convenient - Pay as you go
Pay using Amex/Master/VISA Credit Cards and VISA Debit Cards Only
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 ANNUAL

Business Standard Digital
Subscribe Now and get 12 months Free

Business Standard Premium Digital - 12 Months + 12 Months Free
1799.00
subscribe
Subscribe for 12 months and get 12 months free.
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice -all Credit and Debit Cards, Net Banking, Payment Wallets, and UPI
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 :

  • The monthly duration product is an auto renewal based product. Once subscribed, subject to your card issuer's permission we will charge your card/ payment instrument each month automatically and renew your subscription.
  • In the Annual duration product we offer both an auto renewal based product and a non auto renewal based product.
  • We do not Refund.
  • No Questions asked Cancellation Policy.
  • You can cancel future renewals anytime including immediately upon subscribing but 48 hours before your next renewal date.
  • Subject to the above, self cancel by visiting the "Manage My Account“ section after signing in OR Send an email request to assist@bsmail.in from your registered email address and by quoting your mobile number.

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: Tue, March 31 2020. 17:05 IST
RECOMMENDED FOR YOU
.