Share Market LIVE: Sensex ends 535 points down, Nifty below 9,200-mark; TCS, HUL, private bank stocks drag

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Updated: April 24, 2020 3:53:21 pm

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Out of 30 Sensex stocks, 22 stocks settled in red today with Bajaj Finance as top Sensex loser down nearly 10 per cent, followed by IndusInd Bank, Axis bank, ICICI Bank and HDFC

Share Market Today, Share Market LiveBarring Nifty Pharma index, all the sectoral indices settled in red. Nifty Realty index closed 4.18 per cent lower

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Ending the week on a negative note, BSE Sensex and Nifty 50 settled over 1.5 per cent lower on Friday. The 30-share Sensex closed 536 points or 1.68 per cent down at 31,327, while the broader Nifty 50 index closed at 9,154, down 160 points or 1.71 per cent. Out of 30 Sensex stocks, 22 stocks settled in red today with Bajaj Finance as top Sensex loser down nearly 10 per cent, followed by IndusInd Bank, Axis bank, ICICI Bank and HDFC. On the other hand, Reliance Industries (RIL) was the top Sensex gainer with a growth of 3.34 per cent. Sun Pharma, Hero MotoCorp, LT, Power Grid and Bajaj-Auto were among other gainers on the index. Barring Nifty Pharma index, all the sectoral indices settled in red. Nifty Realty index closed 4.18 per cent lower dragged by Godrej Properties, The Phoenix Mills and Indiabulls Real Estate. Conversely, Nifty Pharma gained over one per cent led by gains in Lupin, Biocon and Glenmark.

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    15:33 (IST)24 Apr 2020
    Debt funds less riskier tha equity funds

    Debt funds do have risks but they are less riskier than the equity funds, this why returns from them are also lower: Alok Singh, Chief Investment Officer, BOI AXA Investment Managers Ltd

    15:32 (IST)24 Apr 2020
    Franklin Templeton is similar to a bank going under moratorium

    If we look at the long term basis them each asset class has its own space right from gold, equity, debt. If you have a well-diversified portfolio, then Franklin Templeton kind of happenings will not disturb your overall return profile. Also, out of all this, Franklin Templeton will not get anything. The only thing is you can redeem it at your own will. You will get money only when the fund realises the money. You might full money or some 75 per cent of your invested money. But this is something which we really don't know. Franklin Templeton is similar to a bank going under moratorium. The difference between the two is, in case of Franklin, there are marketable securities and there will be buyers for that, not immediately. In what proportion or tranches we will get out money, we really don't know, says Alok Singh, Chief Investment Officer, BOI AXA Investment Managers Ltd

    15:31 (IST)24 Apr 2020
    All the funds Franklin Templeton closed are corporate debt-oriented funds

    All the funds that Franklin Templeton decided to close are corporate debt-oriented funds. The credit risk was high because of the COVID-19 issue, (a) it has impacted the credit profile (b) trading hours have also changed. So with the truncated trading hours, generating liquidity in the secondary market has become difficult, says Alok Singh, Chief Investment Officer, BOI AXA Investment Managers Ltd

    15:25 (IST)24 Apr 2020
    Agri market nearly doubles during lockdown; supply of onion, tomato, potato rises up to 622%

    The number of agricultural markets that are functional has almost doubled during the lockdown. Out of 2587 main agricultural markets in the country, 1091 markets were functional at the beginning of the lockdown period on 26 March, which has increased to 2069 markets as on 21 April 2020, according to the Ministry of Agriculture and Farmers Welfare. Also, these markets are flooded with fresh agri supplies. While the supplies of onion have increased by 622 per cent between 16 March and 21 April, the supplies of potato and tomato have increased by 187 per cent and 210 per cent respectively.

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    15:00 (IST)24 Apr 2020
    Investors have no choice but to wait

    Investors have no choice, but to wait so that the liquidity gets back to the lower end of the system as and when the lockdown is over and economic activities start, only then the AMC will pay back the realisable money, says Omkeshwar Singh, Head- RankMF, Samco Securities

    14:59 (IST)24 Apr 2020
    Franklin Templeton winded up 6 schemes under redemption pressure

    Franklin Templeton was not able to funds these redemptions and therefore winded up 6 schemes under redemption pressure, now as and when the money is realized the same will be credited to the unitholders. Retail Investors should be prudent while investing in debt funds and should always look only for the quality of the portfolio and should completely ignore past performance, big names and big brands while making investments: Omkeshwar Singh, Head- RankMF, Samco Securities

    14:58 (IST)24 Apr 2020
    Debt funds are dominated by corporates and HNIs

    In crisis situations any portfolio with exposure to credit risk debt instruments have risk of liquidity and are will be adversely impacted. Further the debt funds are dominated by corporates and HNIs from investment side and most of the corporates due to Covid 19 lockdown have liquidity issues and are therefore aggressively redeeming debt mutual funds to meet cash requirements, says Omkeshwar Singh, Head- RankMF, Samco Securities

    14:56 (IST)24 Apr 2020
    Sensex down over 400 points

    Sensex was trading at 31,439.01 points down 424.07 points or 1.33 per cent, while the broader Nifty 50 was ruling at 9,178.30, down 135.60 points or 1.46 per cent 

    Check live Sensex, Nifty levels

    14:28 (IST)24 Apr 2020
    Buy Schneider Electric, Target Price: Rs 1,180: Edelweiss Securities

    L&T is currently working with Schneider to iron out procedural issues, which have been the key reasons for the delay. In our view, the deal is crucial for Schneider’s market consolidation in a large domestic switch gears market while for L&T it is part of its divestment of non-core activities in line with its larger strategy: Edelweiss Securities

    13:58 (IST)24 Apr 2020
    AMFI advises investors to remain invested in mutual funds

    Following the announcement of winding up of six credit risk fixed income schemes by one of the asset management companies (AMC), Association of Mutual Funds in India (AMFI), the mutual fund industry body, today assured investors that majority of Fixed Income Mutual Funds AUM is invested in superior credit quality securities and schemes have appropriate liquidity to ensure normal operations, AMFI said in a press release.

    13:43 (IST)24 Apr 2020
    Uncertainty will continue to fickle forex market

    Any piece of bad news regarding coronavirus rattles the risky assets including rupee and we see it breaching fresh record lows. All this while, investors were hoping on flattening coronavirus cases and progress of a vaccine, but now there are doubts in the development of drugs. This uncertainty will continue to fickle the forex market. In USD/INR spot 75.70-75.75 has been acting as crucial support, and will remain the same, going ahead we may see prices breach 77-77.15 level, says Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services

    13:12 (IST)24 Apr 2020
    Franklin Templeton’s forced closure shows credit ‘risk’ in debt funds; may spur wave of withdrawals

    Franklin Templeton will wind up $4.1 billion of Indian debt funds after a liquidity crisis compelled the firm to freeze investor withdrawals, underscoring persistent stress in credit markets as the coronavirus pandemic wreaks havoc on the global economy. The firm’s surprise announcement late Thursday marked the biggest-ever forced closure of Indian funds and fueled worries of a renewed wave of withdrawals from similar products.

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    12:23 (IST)24 Apr 2020
    Multinational companies to the rescue of humanity; here’s how coronavirus changed us forever

    In years to come, the 2020 UK Budget will be known as the ‘get it done coronavirus’ call-to-arms. When the Chancellor of the Exchequer, the man who controls Britain’s purse strings, stood up at the despatch box, few of us knew what lay ahead. Few of us thought that thousands would die. And few of us anticipated that our prime minister, Boris Johnson, would end up in intensive care. The disease is a great leveller. Like any crisis, coronavirus has created leaders – none more so than sure-footed, Southampton-born, Rishi Sunak.

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    11:57 (IST)24 Apr 2020
    Do not ignore safety, compliance in hurry to restore business; big frauds originate from big crisis

    Your manufacturing process requires a critical material, and your regular (empanelled) supplier is unable to fulfil the requirement, what will you do? Under normal circumstances, you would scout for suppliers and put them through the vendor empanelment procedures, including carrying out adequate due diligence. Thereafter, you would place orders with the identified supplier so that your requirement is met.

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    11:21 (IST)24 Apr 2020
    When will Franklin Templeton investors get their money back? Here's what happens to closed credit risk funds

     
    Franklin Templeton Mutual Fund announced that it will be closing six of its debt funds from April 23, 2020, freezing over Rs 25,000 crore worth of investor’s money. The move has been made due to the liquidity crisis emerging in the wake of the novel coronavirus pandemic, said, Franklin Templeton Mutual Fund. “There has been a dramatic and sustained fall in liquidity in certain segments of the corporate bonds market on account of the Covid-19 crisis and the resultant lock-down of the Indian economy which was necessary to address the same,” the fund house said in a notice issued on Thursday evening. 
     

    11:18 (IST)24 Apr 2020
    Sensex, Nifty down over 1 per cent

    Around 11.15 AM, BSE Sensex was trading at 31,432.72, down 430.36 points or 1.35 per cent, while the broader Nifty 50 index was ruling at 9,186.70, down 127.20 points or 1.37 per cent

    Check live Sensex, Nifty levels 

    10:52 (IST)24 Apr 2020
    Sensex, Nifty snap two-day gaining streak; these key factors dragging the indices lower today

    Pausing the two-day gaining streak, the headline indices, BSE Sensex and Nifty 50 were trading over per cent down on Friday tacking cues from their global peers. After touching the day’s low of 31,278, Sensex was trading 400 points or 1.27 per cent down at 31,457. While the broader Nifty 50 index was ruling 116 points or 1.17 per cent down at 9,204. The report that an experimental antiviral drug for the coronavirus has flopped in its first randomised clinical trial, dented the global sentiment

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    10:18 (IST)24 Apr 2020
    L&T share price jumps 2.24% to trade at Rs 859 per share

    L&T share price jumps 2.24% after company secures new order in the range of Rs 1,000 crore to Rs 2,500 crore.In a press release the company said, "Railways Strategic Business Unit of LOT Construction's Transportation Infrastructure IC in consortium with M/s Kyosan Electric Manufacturing Co. Ltd., Japan has won a significant order in the form of 3 packages from the Dedicated Freight Corridor Corporation of India Limited (DFCCIL). The Design and Build orders involve 2x25 KV Overhead Electrification, Signalling 0 Telecommunication and Associated works in the Dadri - Khurja and Sahnewal - Khurja sections of the Eastern Dedicated Freight Corridor (EDFC). The works are spread across 442 Route Kms and 638 Track Kms."

    10:00 (IST)24 Apr 2020
    IT stocks may remain in focus today hoping for recovery: Vishal Wagh

    For the day Nifty may see strong support around 9150 levels whereas 9280-9340 are resistance zone. In the last hour of trade, the market may see short recovery on the back of expectation of stimulus soon in the market. Today, IT stocks may remain in focus with banking for recovery: Vishal Wagh, Head of Research, Bonanza Portfolio

    09:49 (IST)24 Apr 2020
    Nifty Pharma index gains 1.42%

    Nifty Pharma index gained 1.42 per cent in the morning deals. Lupin and Glenmark share prices jumped 5 per cent each. 

    09:44 (IST)24 Apr 2020
    Rupee likely to open around 76.20

    The Rupee is likely to open around 76.20 and trade 75.95-76.35 range. The Nifty has opened 150pts lower. Asian currencies are trading weak against the US Dollar. Asian stocks are trading with modest cuts, says Abhishek Goenka, Founder and CEO, IFA Global

    09:43 (IST)24 Apr 2020
    Franklin Templeton shuts 6 funds

    The sentiment onshore has been soured by the news that Franklin Templeton has shut 6 of its credit funds. This means that no redemption can take place and that investors will get their funds back as bond sales happen or proceeds are realized on maturity, says Abhishek Goenka, Founder and CEO, IFA Global

    09:42 (IST)24 Apr 2020
    HCL Tech top Sensex gainer in opening deals, up nearly 3%

    HCL Tech share price was up 2.9 per cent to Rs 492 apiece on BSE in Friday's trade. Hero MotoCorp, Sun Pharma, Tech Mahindra were among other Sensex gainers.

    Check live prices: HCL Tech

    09:33 (IST)24 Apr 2020
    Nifty Pharma only sectoral gainer

    Except, Nifty Pharma, all the sectoral indices were trading in negative territory. Nifty Bank index was down 2.74 per cent, dragged by ICICI Bank, IndusInd Bank and Axis Bank.While Nifty Pharma was up over half a per cent led by gains in Glenmark, Lupin and Cipla

    09:33 (IST)24 Apr 2020
    ICICI Bank, IndusInd Bank top Sensex losers

    Most of the private banks ICICI BankIndusInd BankAxis BankHDFC Bank and Kotak Mahindra Bank were leading the fall today. Out of 30 Sensex stocks, 10 stocks were trading in green with HCL Tech as top Sensex gainer, up 3.5 per cent, followed by Larsen & Toubro, ONGCSun Pharma and NTPC.

    09:32 (IST)24 Apr 2020
    Sensex, Nifty trade with over 1% cuts

    The 30-share Sensex slipped over 500 points to trade at 31,300, while the broader Nifty 50 index breached the crucial 9,200-mark to trade at 9,167

    Check live Sensex, Nifty levels

    09:16 (IST)24 Apr 2020
    Falling crude: State-run OMCs may report Q4 inventory loss of Rs 33,000 crore

    India’s three state-run oil marketing companies (OMCs) — IOCL, HPCL and BPCL — could among themselves report massive inventory — crude and products — losses of around Rs 33,000 crore in Q4FY20 because of a precipitous fall in crude prices through the quarter, according to analysts.

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    09:01 (IST)24 Apr 2020
    Franklin Templeton to hold conference call at 12 pm

    Franklin Templeton to hold a conference call at 12 pm on organisational update. Franklin Templeton Mutual Fund on Thursday decided to wind up six of its debt schemes. These are Low Duration Fund, Dynamic Accrual Fund, Credit Risk Fund, Short Term Income Fund, Ultra Short Bond Fund, and India Income Opportunities Fund.

    08:48 (IST)24 Apr 2020
    Coronavirus, Q4 results to impact investor sentiment

    Hopes are high that the government will soon be announcing the second round of stimulus and that would be a comprehensive one and any disappointment from that front could also push the markets lower. At the same time, an increasing number of COVID-19 cases as well as muted corporate earnings would further impact investor’s sentiments. We thus reiterate our cautious stance and suggest focusing more on risk management aspects says Ajit Mishra, VP - Research, Religare Broking Ltd.

    08:34 (IST)24 Apr 2020
    Holdings in SPDR Gold Trust rallies over 16% on YTD

    We may see a surge in SPDR holdings. Holdings in SPDR Gold Trust, the world's largest gold-backed ETF stood at 1042.46 tonnes as of 22nd April 2020 which is a surge of almost 8% in April alone. On a year to date basis, it rallied around 16.7% from 893.25 tonnes on 31st December 2019, says Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services

    08:33 (IST)24 Apr 2020
    Sensex, Nifty set to open with half a per cent cut

    The Indian Market set to open with a half-per cent cut as per the Asian markets and US Market futures are trading red. The Nifty has managed to hold above 9150 second consecutive days, it is very strong indications that Bulls are still in business, and the fight will continue in between 9100-9400 range. Today, there is a meeting between the Finance Minister and Prime Minister. In the meeting finalization of the most awaited, the fiscal stimulus is expected, says Vishal Wagh, Head of Research, Bonanza Portfolio Ltd.

    08:30 (IST)24 Apr 2020
    Akshaya Tritiya may see subdued demand in gold

    Due to Coronavirus lockdown and physical gold shops being closed, this Akshaya Tritiya we may see subdued demand in gold. However, the economic uncertainty and recessionary impact of Coronavirus in the global economy will push the overall gold prices higher. Technically, intermediate corrections will be seen on gold but the trend will remain positive until prices trade above 44000 in the domestic markets. Expect prices to test 47300/48550 levels until then, says Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services

    08:17 (IST)24 Apr 2020
    SGX Nifty suggests gap-down opening for Sensex, Nifty

    Trends on SGX Nifty suggest a gap-down start for Sensex and Nifty with 107 points or 1.15 per cent loss. The Nifty futures were trading at 9,190 on the Singaporean Exchange.

    08:16 (IST)24 Apr 2020
    US stocks settled lower

    US stocks too ended lower after a report that an experimental antiviral drug for the coronavirus flopped in its first randomised clinical trial. The Dow Jones Industrial Average rose 0.17% to end at 23,515.26 points, while the S&P 500 lost 0.05% to finish at 2,797.8. The Nasdaq Composite slipped 0.01% to 8,494.75.

    08:16 (IST)24 Apr 2020
    Asian markets fall

    Asian stock markets fell after an overnight report raised doubts over a potential coronavirus treatment, Reuters reported. Nikkei 225 shed 0.99% while the Topix index declined 0.78% and the Kospi fell 0.82%. 

    08:16 (IST)24 Apr 2020
    Sensex, Nifty on Thursday

    The 30-share index Sensex advanced 483 points or 1.54 per cent to 31,863. The broader Nifty 50 index settled 126 points or 1.38 points up at 9,314.

    Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
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