Market Highlights: Sensex ends over 1,000 points down, Nifty below 9,000; IndusInd Bank share price falls 12%

By: |
Updated: April 21, 2020 6:09:16 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Out of all 30 stocks that constitute S&P BSE Sensex, 26 shares trading in negative territory with IndusInd Bank as the top Sensex loser down 12.41 per cent, followed by Bajaj Finance, ICICI Bank and Axis Bank.

Share Market Today, Share Market LiveThe Nifty Private Banks index was down nearly 6 per cent dragged by IndusInd Bank, Bandhan Bank and RBL Bank.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity market benchmarks BSE Sensex and Nifty 50 settled over 3 per cent lower on Tuesday led by sell-off in private banks and IT stocks. The 30-share Sensex ended 1,011 points or 3.20 per cent down at 30,636. While the broader Nifty 50 index settled at 8,981, down 280 points or 3.03 per cent. Out of all 30 stocks that constitute S&P BSE Sensex, 26 shares trading in negative territory with IndusInd Bank as the top Sensex loser down 12.41 per cent, followed by Bajaj Finance, ICICI Bank and Axis Bank. While Bharti Airtel, Hero MotoCorp, RIL and Nestle India were the only gainers on the Sensex. Barring Nifty Pharma, all the sectoral indices ended in negative territory. The Nifty Private Banks index was down nearly 6 per cent dragged by IndusInd Bank, Bandhan Bank and RBL Bank. On the other hand, Nifty Pharma index was up more than 2.5 per cent, led by gains in Aurobindo Pharma, Cadila Healthcare and Dr Reddy’s Laboratories.

The price on the futures contract for West Texas crude that is due to expire Tuesday fell into negative territory — minus $37.63 a barrel. The reason: with the pandemic bringing the economy to a standstill, there is so much unused oil sloshing around that American energy companies have run out of room to store it. And if there’s no place to put the oil, no one wants a crude contract that is about to come due.

Read More

Live Blog

Highlights

    15:30 (IST)21 Apr 2020
    ICICI Bank confirms exposure to the Singapore based group, stock down 9%

    We confirm that the Bank, in the normal course of its business, has exposure to the borrower group in question, is taking due steps to protect its interests, and will appropriately reflect the same in its financial statements, as it would do in respect of all its banking exposures, ICICI Bank said in BSE filing

    15:26 (IST)21 Apr 2020
    Bharti Airtel share price gain in weak market, up 2.4%

    Bharti Airtel share price gained 2.4 per cent to Rs 502.10 apiece on BSE in late afternoon deals on Tuesday. It hit day's high of Rs 503.90 and low of Rs 479.

    Check live prices: Bharti Airtel

    15:14 (IST)21 Apr 2020
    Low crude price not good news for BPCL disinvestment: Care Ratings

    Low crude price is something India must leverage and accumulate stocks to the extent possible which will help to lower the trade imbalance and improve CAD. This should provide support on the fundamentals side for our currency. It should soothe inflation too – both WPI and CPI which will be useful as food prices will be sticky in the upward direction. This will not be good news for the disinvestment plan of ours’ as BPCL was to be one of the big tickets.

    15:00 (IST)21 Apr 2020
    INFOSYS: COVID-19 leads to guidance withdrawal, BUY: Motilal Oswal

    Despite COVID-19 impact on utilization, Infosys was able to defend its gross margins (QoQ, 33.4%), which is comforting. Large deal signings in Mar’20 (~USD1.7b v/s USD 1.8b in Dec’19) were impacted. However, it is important to note that run-rate of new deal wins showed a meaningful increase (~50% QoQ). Commentary around continued and broad-based deal wins over the previous ~4 weeks is encouraging. In addition, anecdotal evidence of deal transitions/ramp-ups in a remote manner is reassuring. We expect supply-side aspects to ease off even as Work from Home (WFH) may outlast lockdowns for a significant share of the workforce. Beyond near-term challenges, Infosys (INFO) should be a key beneficiary of digital IT spends by enterprises. Reiterating Buy. Target Price Rs 775

    14:44 (IST)21 Apr 2020
    Buy Axis Bank, target price Rs 541: HDFC Securuities

    The strategic re-orientation at the bank will bode well when the bank resumes growth in a post-COVID-19 world. The sharp recent correction also offers an attractive risk-return proposition. We maintain BUY with an SOTP TP of Rs 541 (Rs 908 earlier).

    14:42 (IST)21 Apr 2020
    COVID-19, YES Bank likely to have far-reaching impacts on banking sector: HDFC Securities

    Recent events (YES and COVID-19) are likely to have multiple order and far-reaching impacts on the banking sector. COVID-19 will obviously impact growth and asset quality. The events at YES have impacted depositor sentiment, causing them to become more risk-averse, we believe. Consequently, the less obvious (but equally important) impact is expected to play out on the liabilities side. HDFC Securities

    14:36 (IST)21 Apr 2020
    No penal interest on farm loan dues in moratorium; RBI extends interest subvention benefit to farmers

    In an extension to the earlier relief related to term loans moratorium, RBI has today announced that the farmers will not be charged penal interest on their crop loans till the end of May. Earlier, the RBI had given moratorium for three months on payment of installments falling due between March 1 and May 31, 2020, however, interest was accrued on the non-payment of dues.

    Read full story

    14:20 (IST)21 Apr 2020
    Sun Pharma, HUL, Nestle India gain

    Sun Pharma, HUL and Nestle India only Sensex gainers in an otherwise weak market. Nestle India and Sun Pharma share prices were up nearly a per cent, while HUL shares advanced 0.20 per cent.

    14:18 (IST)21 Apr 2020
    Nifty Pharma trades over 3% up

    Nifty Pharma index was up more than 3 per cent, led by gains in Aurobindo Pharma, Cadila Healthcare and Dr Reddy’s Laboratories.

    14:17 (IST)21 Apr 2020
    IndusInd Bank share price slumps 12%

    IndusInd Bank was the top Sensex loser down 12 per cent, followed by Axis Bank, Bajaj Finance and ICICI Bank. While Sun Pharma, Nestle India and Asian Paint were the only gainers on the Sensex. Barring Nifty Pharma, all the sectoral indices were trading in negative territory.

    Check live prices: IndusInd Bank

    14:15 (IST)21 Apr 2020
    Rupee ends weaker against US dollar

    Indian rupee settled 30 paise weaker at 76.84 per US dollar as against Monday's close of 76.54 a dollar.

    14:04 (IST)21 Apr 2020
    3 critical lessons small businesses must learn from Covid-19 to grow in post-pandemic world

    Covid-19 has significantly increased the odds of around 19-24 per cent of the 75 million SMEs in India being at the risk of insolvency or extinction. Around one-fourth or one-fifth of the balance sheet of the loans to SMEs are at the risk of being NPAs. Around 10-25 million jobs in SMEs are expected to be lost over a period of next 12-18 months, particularly the temporary staff in manufacturing companies.

    Read full story

    13:52 (IST)21 Apr 2020
    Premium on life insurance policies to rise; coronavirus hit motor, travel policies hard

    India is still reeling under the impact of Coronavirus and lockdown. It has a wide-ranging impact across the sectors of the economy. In some cases, the impact is minimal and short-lived. However, in case of some sectors like insurance, the impact is going to be negative in the near term as it will be hit from multiple directions. In the long run, it is expected to change the way Indians look at protection cover and bring some long-lasting positive changes in the very long run.

    Read full story

    13:41 (IST)21 Apr 2020
    Titan, Aditya Birla Fashion, other jewellery and retail cos face corona carnage; earnings may fall this much

    India’s retail sector is among the worst hit due to the coronavirus crisis with impact ringing loud from jewellery to apparels. As many companies are close to announcing their Q4 results, revenue declines in the range of 3-14% are likely across sectors, according to a report by HDFC Securities. “Impact on profitability (EBITDA) will be even higher given the high fixed cost base in business models,” the report said. Jewellery business, for instance, was already under pressure due to higher gold prices.

    Read full story

    13:15 (IST)21 Apr 2020
    Here’s what record crude oil price fall means for India: Some gain, some pain

    The international crude oil price crash to rarely seen levels may help India significantly cut the import bill, check inflation, and boost tax revenue, if the government takes advantage of the situation. With India importing over 80 per cent of its crude oil requirements, the country will need to shell out a lot less money to buy oil from abroad. Low oil prices can not only reduce India’s import bills but it can also give a room to the government to increase fuel taxes, offsetting low direct tax collection.

    Read full story

    12:57 (IST)21 Apr 2020
    US President’s announcement of suspending immigration led to sell-off in Indian IT stocks

    US President’s announcement of suspending immigration temporarily due to COVID-19 pandemic has led to sell-off in Indian IT stocks, with Nifty IT, the benchmark down almost 3.2% in intraday trade today. How this plays out and for what duration, are questions whose answers are being keenly awaited by IT companies as well as NASSCOM, as it could impact them severely going forward says Aamar Deo Singh, Head Advisory, Angel Broking Ltd

    12:56 (IST)21 Apr 2020
    Sensex, Nifty extend losses, down 3.5%

    BSE Sensex extended losses and slipped 1,200 points or 3.77 per cent to 30,454.51. While the broader Nifty 50 index was ruling at 8,940.65, down321.20 points or 3.47 per cent.

    Check live Sensex, Nifty levels 

    12:48 (IST)21 Apr 2020
    Infosys, TCS, HCL Tech share prices fall as Donald Trump announces immigration suspension

    Infosys, TCS (Tata Consultancy Services), HCL Tech shares, along with other information technology stocks, fell up to 6 per cent in Tuesday’s trade after US President Donald Trump announced a temporary suspension of immigration into the country. Out of the 10 IT stocks in Nifty IT index, 9 scrips were down in the range of 2 -6 per cent in the intra-day trade with Just Dial shares falling the most, down 6.3 per cent.

    Read full story

    12:31 (IST)21 Apr 2020
    One could definitely see the further drop in oil prices coming

    One could definitely see the further drop in oil prices coming. With the global economy in a complete standstill, there is no demand for new oil. Even with the cut in supply from the oil-producing countries, we are still in an oversupplied world. The transportation cost of shipping oil has gone up 3x since March 2020 and what has happened now, in fact, is that sellers are paying buyers to take their oil because the world is running out of places to store oil: Viram Shah, CEO and Co-Founder, Vested Finance

    12:19 (IST)21 Apr 2020
    Govt must allow e-commerce companies to deliver mobile phones, other non essentials; here’s why

    With MHA revoking its earlier order that allowed e-commerce companies to start delivering non-essential goods amid lockdown, a research firm has said that the government must allow them to restart deliveries. The government’s decision to permit e-commerce firms to deliver only essential goods will aggravate hardship fears in many ways, instead of mitigating them, CUTS International said on Monday.

    Read full story

    11:52 (IST)21 Apr 2020
    Sensex down 900 pts, Nifty below 9,000

    BSE Sensex was trading at 30,733.76, down 914.24 points or 2.89 per cent, while broader Nifty 50 index was ruling at 8,997.20, down 264.65 points or 2.86 per cent 

    Check live Sensex, Nifty levels

    11:47 (IST)21 Apr 2020
    Sun Pharma share price gain over 2% in weak market

    Sun Pharma share price gained 2.4 per cent to Rs 484.80 a piece on BSE in Tuesday's weak trade. Sun Pharma was the top Sensex gainer, followed by Nestle India, HUL and ITC.

    Check live prices: Sun Pharma

    11:34 (IST)21 Apr 2020
    Gold prices rise today as weak oil prices increase bullion’s safe-haven appeal, silver rates slump

    Gold prices in India gained on Tuesday as investors rushed to safe-haven assets amid spiking coronavirus cases and a crash in US crude oil prices. Gold June futures were trading Rs 177 or 0.39 per cent higher at Rs 45,891 per 10 grams, while silver May futures were ruling lower at Rs 42,661 per kg on Multi Commodity Exchange (MCX). An unprecedented move in crude oil price, which plunged below zero to hit negative $40.32 a barrel, increased bullion’s safe-haven appeal.

    Read full story

    11:26 (IST)21 Apr 2020
    Aiming for great returns in a volatile share market? This simple trick could do the task

    Portfolio diversification is one of the most well-known subjects in the field of trading. However, it is also one of the most neglected ones, especially by new investors.

    Read full story   

    11:02 (IST)21 Apr 2020
    Vijay Mallya ‘disappointed’, but says will continue to fight against extradition to India after losing court appeal

    Embattled liquor baron Vijay Mallya, who lost his UK High Court appeal against an extradition order to India, has said that he is “disappointed” with the ruling but will continue to seek legal remedies as advised by his legal team. The 64-year-old former Kingfisher Airlines boss reiterated that he has repeatedly offered to pay the Indian banks the loan amount owed by his now-defunct airline, an offer which the banks have rejected.

    Read full story

    10:46 (IST)21 Apr 2020
    Retail is likely to be among the worst hit sectors by COVID-19: HDFC Securities

    Revenue declines across coverage is likely to range between 3-14% in 4Q. Impact on profitability (EBITDA) will be even higher (-14% to severe losses in FY21 ex-DMART) given the high fixed cost base in biz models. In this backdrop, Assessing 1. Foregone vs recoverable revenue, 2. Inventory fungibility/quality across seasons, 3. Capital to cover fixed costs and 4. Leverage position will assume centre stage.

    10:40 (IST)21 Apr 2020
    Gold prices gain as investors rush to safe-haven

    Gold prices continue to move in a broad range amidst dwindling share markets as U.S. crude prices plunged and concerns about coronavirus-linked economic damage persisted. Major central banks have rolled out massive monetary and fiscal measures to limit economic damage from the virus, with Japan boosting its new economic stimulus package to a record $1.1 trillion to expand cash payouts to its citizens. Markets are less confident about US and Europe reopening anytime soon, says Navneet Damani, VP- Motilal Oswal Financial Services. 

    10:30 (IST)21 Apr 2020
    HUL, ITC, Sun Pharma help Nifty hold on to 9k, Sensex below 30,000; check what’s dragging D-St today

    Indian share market benchmarks BSE Sensex and Nifty 50 fell 3 per cent in the opening trade on Tuesday taking cues from global peers, after US futures contracts for May crashed below zero to negative $40.32 a barrel. The 30-share Sensex was trading 885 points or 2.79 per cent down at Rs 30,764, while the broader Nifty 50 index was ruling at 9,029, after slipping below 9,000-mark.

    Read full story

    10:25 (IST)21 Apr 2020
    Buy Nestle India, Target price Rs 20,687 : Angel Broking

    Nestle India Ltd (Nestle) manufactures and sells a variety of food products such as Milk & Nutrition, Prepared Dishes & Cooking Aids, Powdered & Liquid Beverages and Confectionery. Going forward, we expect healthy growth and profitability on the back of strong brand recall, wide distribution network (4.6mn outlets across India) and new product launches: Angel Broking | 21.9% upside

    10:18 (IST)21 Apr 2020
    ICICI Securities expects an intraday dip towards 9070 - 9100

    Nifty futures is likely to open on a negative note tracking weak global cues weighed by heavy sell off in crude oil prices. However, post gap down opening, we expect pullback attempt would be seen from Friday’s low (9100). Hence, intraday dip towards 9070 - 9100 should be used to create long position for 9195.

    09:57 (IST)21 Apr 2020
    The current correction would extend further to drift near to 8950 levels: Vikas Jain

    NIFTY50 has witnessed resistance near 9400 levels and corrected, we believe the current correction would extend further to drift near to 8950 levels. Multiple negative newsflow from global markets like immigration suspension announced by Mr.Trump, sharp volatility in crude oil prices would put further pressure on markets overall: Vikas Jain, Senior Research Analyst at Reliance Securities

    09:49 (IST)21 Apr 2020
    A barrel of crude oil cheaper than a bottle of coke, but, India has nothing to cheer

    The coronavirus pandemic has acted as a catalyst for jaw-dropping movements in global financial markets, however, nothing can be compared with the mammoth fall in the WTI crude oil price on Monday. The West Texas Intermediate (WTI) Crude, produced by the United States, on Monday saw its futures contracts for May tank way below zero to negative $40.32 a barrel.

    Read full story  

    09:46 (IST)21 Apr 2020
    Aurobindo Pharma share price surges 10%

    Aurobindo Pharma share price jumped 10% in an otherwise weak market USFDA classified company's Unit IV as Voluntary Action Indicated (VAI).

    Check live prices: Aurobindo Pharma

    09:43 (IST)21 Apr 2020
    BSE Oil and Gas index down nearly 3%

    Following a crash in crude oil prices, S&P BSE Oil and Gas index was trading 2.84 per cent lower. All the stocks were trading in red with ONGC leading the fall, down 5.54%, GAIL 3.83%, RIL 3.44%, IOC 3.08%.

    09:40 (IST)21 Apr 2020
    WTI oil likely to rebound in coming sessions: Jigar Trivedi, Anand Rathi Shares and Stock Brokers

    WTI Crude oil rebounded on Tuesday morning, however, MCX oil continued to drift lower on bearish sentiments. Saudi Arabia and OPEC are considering cutting oil output as soon as possible, instead of waiting until May. Russia’s oil producers have been told by the Energy Ministry to cut their production by about a fifth to comply with the new OPEC deal starting May 1.

    US President Trump said:-Hopes Senate will vote on coronavirus relief loans tomorrow-Filling up national strategic petroleum reserves (SPR)-US looking to put up to 75 million barrels of oil into SPRHence the WTI oil is likely to rebound in coming sessions, says Jigar Trivedi, Fundamental Research Head, Anand Rathi Shares and Stock Brokers

    09:37 (IST)21 Apr 2020
    RIL share price drops over 3.5%

    Reliance Industries (RIL) share price dipped 3.59 per cent to Rs 1,199 apiece on BSE in Tuesday's weak trade as crude oil prices hit never-seen-before level and slipped below $0 per barrel.

    Check live prices: RIL

    09:31 (IST)21 Apr 2020
    IndusInd Bank share price drops over 7%

    IndusInd Bank was the top Sensex loser, down 7.28 per cent, followed by Axis Bank, ICICI Bank and Bajaj Finance. Only ITC shares gained ground in an otherwise weak market with a gain of 0.69 per cent.

    Check live prices: IndusInd Bank

    09:29 (IST)21 Apr 2020
    Sensex, Nifty crack 3% on weak global cues

    The 30-share Sensex was trading 916 points or 2.90 per cent lower at Rs 30,771, while the broader Nifty 50 fell 278 points or 3.07 per cent to 8,977.

    Check live Sensex, Nifty levels

    09:13 (IST)21 Apr 2020
    Resuming operations post-COVID-19 lockdown: Auto, phone, durable firms continue to remain shut

    The government may have given a green signal for restarting some segments of industrial activity in a staggered manner from Monday by following a set of listed protocols, but large sections of manufacturing industry, barring the ones dealing in essential commodities, are still in a wait and watch mode. While some states like Delhi, Maharashtra, Tamil Nadu, Karnataka and Telangana, have extended the lockdown and are yet to give the necessary permissions to operate, companies are also adopting a cautious approach and are not in a hurry to commence production.

    Read full story

    09:11 (IST)21 Apr 2020
    Gold sentiment to remain positive: Jigar Trivedi, Anand Rathi Shares and Stock Brokers

    Gold was slightly up on Tuesday morning, having risen as much as 1% in the previous session. As part of fourth stimulus deal, the US Congress inched toward a $450 billion deal to help small businesses and hospitals hurt by the coronavirus as the Senate set a Tuesday session for a potential vote on it. Sentiments will be positive since investment demand has been supporting the prices, says Jigar Trivedi, Fundamental Research Head, Anand Rathi Shares and Stock Brokers. 

    Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
    Next Stories
    1RIL share price hits new all-time high, more than doubles in under 4 months; check m-cap
    2Asian shares climb as China blue chips hit 5-year peak
    3Sensex, Nifty extend gain on Monday; here’s what is driving stock markets higher today