Market Highlights: Sensex ends FY20 on higher note, gains 1,028 pts, Nifty settles near 8,600; RIL, HDFC twins lead

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Updated:Mar 31, 2020 6:26:58 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: As many as 25 stocks out of 30 Sensex stocks finished their trade in green today. ITC was the top Sensex gainer, up 7.84 per cent.

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Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity market benchmark indices Sensex and Nifty ended the financial year 2019-20 on a higher note, gaining over 3.5 per cent each on Tuesday. The 30-share index Sensex ended 1,028 points or 3.62 per cent up at 29,468.49, while the broader Nifty 50 index settled at 8,597 points. As many as 25 stocks out of 30 Sensex stocks finished their trade in green today. ITC was the top Sensex gainer, up 7.84 per cent, followed by RIL, ONGC and Tata Steel. Conversely, IndusInd Bank was the top laggard on the index, down 14.68 per cent. Maruti, Bajaj Finance, Titan and Kotak Mahindra Bank were other losers on Sensex. All the sectoral indices settled in a positive territory today. Nifty FMCG index gained 5.76 per cent driven by Britannia, ITC and Marico. Similarly, Nifty Metal index was up 5.19 per cent led by gains in SAIL, Hindalco and Hindustan Copper.

Domestic credit rating agency India Ratings (Ind-Ra) on Monday cut its FY21 growth forecast to 3.6 per cent amid coronavirus-related worries. Fitch Solutions on Monday slashed its estimate for India’s GDP growth in the fiscal starting April 1 to 4.6 per cent due to weaker private consumption and contraction in investment amid coronavirus outbreak, costing economies around the globe.

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Highlights

    15:51 (IST)31 Mar 2020
    Sensex, Nifty ends FY20 on higher note

    S&P BSE Sensex ended 1,028 points or 3.62 per cent up at 29,468.49, while the broader Nifty 50 index settled at 8,597 points. 

    15:08 (IST)31 Mar 2020
    Ola to help pay household expenses of drivers impacted by lockdown; announces micro credit scheme

    Cab booking company Ola on Tuesday said it will address the liquidity needs of more than 1 lakh drivers on its platform by offering interest-free micro-credit under the new initiative Sahyog amid the impact of Coronavirus lockdown. The ‘eligible’ drivers will have access to a loan of up to Rs 3,600 to be disbursed over three weeks that they can use “to pay for their planned household expenses or repayments,” the company said. Up to Rs 1,200 will be given per week under the scheme, however, this credit “shall be set off against earnings on the platform over a period,” it said once the business returns to normalcy.

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    14:51 (IST)31 Mar 2020
    Only three sector indices outperformed Nifty50 in FY20 as bears took control; check top stocks

    Nifty 50 entered the financial year 2019-20 on the back of a healthy 14.9% per cent on-year growth from the previous fiscal. Expectations might have been high but the index failed to deliver as it tanked 26% this fiscal, hit by the coronavirus pandemic, which eroded 30% of Nifty’s value since the beginning of January 2020. While most sectoral indices slumped in the grip of a slowing economy, only three outperformed the benchmark.

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    14:27 (IST)31 Mar 2020
    Sensex up over 1,000 pts in afternoon deals

    Sensex was trading 1,061.92 points or 3.73 per cent higher at 29,502.24, while the broader Nifty50 index was ruling at 8,601.55, up 320.45 points or 3.87 per cent.

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    14:18 (IST)31 Mar 2020
    What's driving Sensex higher

    As many as 26 stocks out of 30 Sensex stocks were trading in green today. ONGC and RIL were top Sensex gainers, up 8 per cent and 7.29 per cent, respectively, followed by ITC, Tata Steel and HCL Tech.

    14:09 (IST)31 Mar 2020
    Only three sector indices outperformed Nifty50 in FY20 as bears took control; check top stocks

    Expectations might have been high but the Nifty-50 failed to deliver this fiscal as it tanked 26%, hit by the coronavirus pandemic. However, three sector did outperform the index in FY20.
     

    13:54 (IST)31 Mar 2020
    Apollo hospital hits a new 52-week low

    Apollo Hospitals Enterprise Ltd. hit a fresh 52-week low of Rs 1,047 per share today. 

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    13:26 (IST)31 Mar 2020
    China factory activity unexpectedly expands, but economy cannot shake off coronavirus shock

    Factory activity in China unexpectedly expanded in March from a collapse the month before, but analysts caution that a durable near-term recovery is far from assured as the global coronavirus crisis knocks foreign demand and threatens a steep economic slump. China’s official Purchasing Managers’ Index (PMI) rose to 52 in March from a plunge to a record low of 35.7 in February, the National Bureau of Statistics (NBS) said on Tuesday.

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    12:53 (IST)31 Mar 2020
    India VIX plummets 7.2%

    Indian share markets' fear guage India VIX tanked 7.2% as nifty climed up by 300 points on Tuesday. The index is now at 66 level way below its recent highs of close to 80.

    12:45 (IST)31 Mar 2020
    Top S&P BSE Sensex gainers

    ONGC, UltraTech Cement, HDFC, HCL Tech, ITC and ICICI Bank, each up in the range of 5-6 per cent, were the top Sensex gainers.

    12:25 (IST)31 Mar 2020
    Sensex jumps 1,000 points, Nifty above 8,550

    Domestic benchmark indices Sensex ands Nifty were trading over 3.5 per cent higher. S&P BSE Sensex was trading at 29,450.99, up 1010.67 points or 3.55 per cent, while broader Nifty 50 index was ruling at 8,577, up 296 points or 3.57 per cent.

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    12:14 (IST)31 Mar 2020
    BPCL share price surges 12%

    PSU giant Bharat Petroleum Corporation Limited (BPCL) saw its share price surge 12% to trade at Rs 307.95 per share.

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    12:13 (IST)31 Mar 2020
    Coworking boom in non-metros to help small businesses, startups with low cost, scalable growth

    Before a decade ago, coworking spaces were virtually non-existent. The idea of a shared open space being occupied by professionals was a concept that was foreign to many. With the ecosystem evolving, along with the needs of people, today, coworking spaces are becoming essential for emerging entrepreneurs and startups.

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    11:56 (IST)31 Mar 2020
    Now, Bharti Enterprises steps in to fight coronavirus; Sunil Mittal firm to give Rs 100 cr to PM fund, buy masks, etc

    Bharti Enterprises has committed over Rs 100 crore to support India’s fight against COVID-19, the company said in a statement on Tuesday. A large portion of the corpus will be immediately contributed to the PM CARES Fund. The balance amount is being directed towards sourcing of masks and other key equipment for the doctors, healthcare workers and essential services personnel who are at the forefront of the battle, the statement said, adding that over a million N-95 masks are being procured and will be made available on an immediate basis.

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    11:45 (IST)31 Mar 2020
    Amul MD RS Sodhi says seen many lockdowns: Here’s what makes this one particularly difficult

    As the nation is battling the coronavirus crisis with a 21-day lockdown, Gujarat based-Amul too is facing a drop in demand. Despite this, MD RS Sodhi says that the lockdown situation is nothing new for the company which has sailed through several riots, curfews or natural calamities in the past. However, this time has brought a new set of its own problems for the company.

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    11:31 (IST)31 Mar 2020
    Sensex, Nifty rise in trade

    Domestic equity market benchmarks Sensex and Nifty gained in trade on Tuesday. The 30-share index Sensex was trading at 29,119.43, up 679.11 points or 2.39 per cent, while the broader Nifty 50 index reclaimed its 8,500-mark again.

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    11:15 (IST)31 Mar 2020
    Fresh Start Scheme 2020: Companies can file pending forms, returns without late fees; make fresh start

    Modi government has announced yet another regulatory relief for the companies registered in India. The government has introduced a fresh scheme – Companies Fresh Start Scheme, 2020 – to make a fresh start on a clean slate. Under the scheme, companies can file their pending documents such as Annual Return and Finacial Statements without paying higher additional late fees. Adding to the Companies Fresh Start Scheme, the MCA has also introduced LLP Settlement Scheme to give relief to Limited Liability Partnerships.

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    11:00 (IST)31 Mar 2020
    PC Jeweller hits upper circuit for the 4th day straight

    Share price of Pewellers surged 10% yet agiain on Tuesday to trade at Rs 11.55 per share. 

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    10:42 (IST)31 Mar 2020
    Gold, silver prices edge higher on Tuesday as economic fallout from coronavirus cushions support

    Gold and silver prices edged higher on Tuesday, but the gains for the commodity remained capped as the US dollar held firm, however economic fallout from fast-spreading coronavirus cushioned some support to bullion, says Navneet Damani, VP- Commodity Research, Motilal Oswal Financial Services. On MCX, gold June futures were trading just Rs 19 higher at Rs 43,400 per 10 grams while silver May futures were ruling at 40,036 per Kg, up Rs 238 or 0.60 per cent on Tuesday.

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    10:21 (IST)31 Mar 2020
    World economy will go into recession with likely exception of India, China: UN

    The world economy will go into recession this year with a predicted loss of trillions of dollars of global income due to the coronavirus pandemic, spelling serious trouble for developing countries with the likely exception of India and China, according to a latest UN trade report.With two-thirds of the world's population living in developing countries facing unprecedented economic damage from the COVID-19 crisis, the UN is calling for a USD 2.5 trillion rescue package for these nations, PTI reported

    10:20 (IST)31 Mar 2020
    Future Retails touches lower circuit for seventh consecutive day

    Share price of Future Retail touched the lower circuit yet again as the stock tumbled down 5% during the opening hours of trade. Future Group, according to reports has been struggling to servie debt as the share price has tanked more than 70% from a little over a month ago.

    10:11 (IST)31 Mar 2020
    IndusInd Bank share price hits 15% lower circuit

    IndusInd Bank share price hit 15 per cent lower circuit at Rs 349.85 apiece in early trade on BSE, a day after the company informed the bourses that its total deposits now stands lower by approximately 10-11 per cent."Deposits fell 10-11 percent and almost two-third of reduction is on account of Government related accounts – this is largely related to general private sector bank stance. This will also result in lower CASA ratio, but reduce our dependency on this category for deposits in future," IndusInd Bank said in a regulatory filing on BSE on Monday.

    Check live prices: IndusInd Bank

    10:05 (IST)31 Mar 2020
    Nifty tops 8,450 level tracking global cues, check what’s driving Sensex 550 points higher today

    Regaining most of the yesterday’s losses, headline indices Sensex and Nifty were trading higher on Tuesday on the back of positive global cues which lifted investor sentiment. In the opening session, the 30-share index Sensex jumped over 850 points to 29,316, while the broader Nifty 50 index reclaimed 8,500-mark.

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    09:51 (IST)31 Mar 2020
    IndusInd Bank share price drops 20%

    IndusInd Bank was the top Sensex laggard, down 20 per cent to Rs 329 apiece. Other losers on the index were Bajaj Finance, Bajaj-Auto and Maruti. While Tata Steel was the top Sensex gainer up over 4.5%.

    Check live prices: IndusInd Bank

    09:39 (IST)31 Mar 2020
    Sensex, Nifty erase some of the opening gains

    After rising around 3 per cent in the opening trade, headline indices erased some of the gains, S&P BSE Sensex was trading at 28,738.83, up 298.51 points or 1.05 per cent, while the Nifty 50 index slipped below 8,400, up 84 points or 1.02 per cent at 8,365.

    Check Sensex, Nifty live levels

    09:33 (IST)31 Mar 2020
    Metal stocks lead Nifty Metal index pack with Hindalco as the top gainer

    Nifty Metal index was trading 3.65 per cent higher driven by Hindalco, Vedanta and JSW Steel. Similarly, Nifty Bank index was up 1.78 per cent led by gains in ICICI Bank, Federal Bank and Axis Bank.

    09:26 (IST)31 Mar 2020
    Top gainers and loser on S&P BSE Sensex

    As many as 28 stocks out of 30 Sensex stocks were trading in a positive territory, with Tata Steel as the top gainer, up 3.44 per cent, followed by Axis Bank, Power Grid and RIL. On the flip side, IndusInd Bank was the top laggard, down 10 per cent to Rs 370, followed by Bharti Airtel.

    09:25 (IST)31 Mar 2020
    Sensex, Nifty rise in opening deals

    S&P BSE Senses was trading 545 points or 1.92 per cent higher at 29,986, while the broader Nifty 50 index jumped to reclaim 8,500-mark.

    Check live Sensex, Nifty levels

    09:04 (IST)31 Mar 2020
    Rupee opens higher against US dollar onTuesday

    The Indian rupee opened higher at 75.52 a dollar vs Monday's close of 75.65 a dollar.

    08:53 (IST)31 Mar 2020
    COVID-19 Fallout: Direct tax receipts decline after 20 years

    After two decades, the Centre’s direct tax collections will likely show an year-on-year decline in FY20, reflecting the enormity of the economic slump, which has lately been accentuated by Covid-19 outbreak. The big tax cuts for corporate India announced in September with retrospective validity from the start of the year, also dented collections.

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    08:40 (IST)31 Mar 2020
    Volatility in market likely to continue: Siddhartha Khemka, Head - Retail Research, MOFSL

    While the coordinated stimulus action from governments around the world has offered some respite, the volatility in the market is likely to continue as there is no certainty as to how long the problem will persist and its repercussions on the economy. It would continue to track the trend in coronavirus cases globally and the economic impact of lockdowns undertaken by several countries, says Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

    08:38 (IST)31 Mar 2020
    Strongly recommend keeping short positions: Ajit Mishra, VP - Research, Religare Broking Ltd

    It’s almost a month now that we’re seeing extreme volatility across the board including the benchmark index. And, we do not see this situation changing anytime soon. Traders have no option but to align their positions according to the market trend however they can minimise the risk, by opting for hedged options strategies. We strongly recommend keeping short positions, says Ajit Mishra, VP - Research, Religare Broking Ltd.

    08:32 (IST)31 Mar 2020
    US markets rally

    US stocks managed to settle higher on Monday as President Donald Trump followed last week’s massive fiscal stimulus package by extending his stay-at-home guidelines, leaving investors to await more signs on the next stages of a deepening economic crisis. Dow Jones Industrial Average was up 482.20 points, or 2.23%, at 22,118.98, the S&P 500 was up 66.06 points, or 2.60%, at 2,607.53 and the Nasdaq Composite was up 220.56 points, or 2.94%, at 7,722.94.

    08:32 (IST)31 Mar 2020
    Asian shares rise on Tuesday

    Asian stocks rose on Tuesday as factory data from China held out the hope of a rebound in activity even as other countries across the globe all but shut down. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.1%. Japan’s Nikkei firmed 1% while South Korea added 2%.

    08:27 (IST)31 Mar 2020
    Sensex, Nifty settled lower on Monday

    S&P BSE Sensex ended 4.6 per cent or 1,375 points lower at 28,440, while the broader Nifty 50 index finished 370 points or 4.28 per cent at 8,289

    08:27 (IST)31 Mar 2020
    Fitch Solutions, Ind-Ra cut India GDP growth forecast for FY21

    Domestic credit rating agency India Ratings (Ind-Ra) on Monday cut its FY21 growth forecast to 3.6 per cent amid coronavirus-related worries. Fitch Solutions on Monday slashed its estimate for India’s GDP growth in the fiscal starting April 1 to 4.6 per cent due to weaker private consumption and contraction in investment amid coronavirus outbreak, costing economies around the globe.Read full story

    08:25 (IST)31 Mar 2020
    SGX Nifty indicates positive start for Sensex, Nifty

    Trends on SGX Nifty indicate a gap-up start for Sensex and Nifty with a 182 points or 2.2 per cent gain. The Nifty futures were trading at 8472 on the Singaporean Exchange.

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