Share Market Highlights: Sensex ends comfortably above 31,100 points, Nifty settle above 9,100; M&M gains 17%

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Updated:Apr 09, 2020 4:58:00 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Nifty Auto index gained 8.36 per cent led by Motherson Sumi Systems, M&M and Maruti. Nifty Pharma continued its winning spree, gaining over 6 per cent during the day.

Share Market Today, Share Market Live25 of the 30 constituents of S&P BSE Sensex, 25 ended the day in green with Mahindra and Mahindra leading the gainers.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks Sensex and Nifty ended the day with significant gains, jumping over 4 per cent each tracking gains on Wall Street and on hopes that the coronavirus pandemic is nearing a peak. S&P BSE Sensex moved up 1265 points or 4.23 per cent to reach 31,159 points, while the broader Nifty 50 index gained was up 354 points or 4 per cent at 9,096. Of the 30 constituents of S&P BSE Sensex, 25 ended the day in green with Mahindra and Mahindra leading the gainers tally after jumping 17.5 per cent during the day’s trade; followed by Maruti Suzuki India with gains over 13%. All the Nifty sectoral indices ended the day in green. Nifty Auto index gained 8.36 per cent led by Motherson Sumi Systems, M&M and Maruti. Nifty Pharma continued its winning spree, gaining over 6 per cent during the day.

Economic growth is likely to plummet to a multi-decade low of 1.6 per cent in fiscal year 2020-21 due to COVID-19 pandemic and ensuing measures like lockdowns and social distancing, an American brokerage said on Wednesday in one of the bleakest forecasts on GDP yet. Indian policymakers have not been aggressive enough in their response till now to the crisis, and will need to eventually intensify their efforts, economists at Goldman Sachs said.

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Highlights

    15:51 (IST)09 Apr 2020
    Today's trade saw even consumer discretionary and consumer durables stage a comeback: S Ranganathan

    On the back of positive global cues, the market rose led by spirited all-round buying as Automobiles, Financials and Pharmaceuticals led the charge despite profit booking witnessed. Today's trade saw even consumer discretionary and consumer durables stage a comeback ahead of expectations of a stimulus to help MSME weather the pandemic.

    15:46 (IST)09 Apr 2020
    Markets further strengthened on back of expectations of second stimulus package: Narendra Solanki

    Indian markets started trading on a positive note taking upbeat cues from its Asian peers in the morning session for the third straight session as policymakers discuss how and when the global economy can reopen with data showing a slowing spread of the coronavirus. During the afternoon session the markets further strengthened on back of expectations of second stimulus package India is poised to announce in coming days will be worth around Rs 1 lakh crore ($13 billion) and focus on help for small and medium businesses weathering the coronavirus outbreak which led to both broad based buying and also triggered some short covering ahead of the announcement. On sectoral front, almost all the sector indices were trading in the green.

    15:45 (IST)09 Apr 2020
    Market Breadth was in favor of bulls. For every loser, there were more than seven gainers: Vishal Wagh

    Today, Nifty opened on a stronger note on the back of bullish cues from the global market. In the initial hour of trade, it has consolidated till 8925 and later rallied to cross 9100. But it failed to cross yesterday's high of 9131. Market Breadth was in favor of bulls. For every loser, there were more than seven gainers. All sectors contributed in today's rally led by Auto, Banking, and Metals. USDINR is showing resistance around 76.50 and correcting below 76 may bring strength in INR. The next support level is 74.80. India VIX closed below 50. This is bullish for the market in the near term. Going forward, Nifty will find support around 8700 levels whereas resistance will be around 9210-9350. Nifty may test 9400-9550 in the coming week.

    14:40 (IST)09 Apr 2020
    Every week rupee is breaching fresh record lows: Rahul Gupta, Head of Research- Currency, Emkay Global

    “Every week rupee is breaching fresh record lows, now the level is 76.54 and it is difficult to say where will it be from here. But uncertainty and fragile market sentiments over COVID-19 will continue to keep under pressure. Further pressure will come from the uptick in crude and surge in dollar index. Also, OTC timings have been trimmed to 10AM-2PM, and it is an illiquid, pessimistic market at this point in time and won’t be surprised if 77.50 is breached next week. So broadly, USD/INR may trade within 75.70-77.50 with a bullish bias next week.”

    14:20 (IST)09 Apr 2020
    Lockdown doing its part to control spread of coronavirus, here's what investors need to do

    The financial market environment may improve or derail if the lockdown advances as successful or otherwise. Today, the world has understood that it is a disease that can be brought under control by stringent lockdown, improvisation in health policy, development in treatment and vaccination in the future.

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    13:46 (IST)09 Apr 2020
    HUL restricts Nifty FMCG's upward movement

    Although trading in the green, Nifty FMCG has failed to mirror the broader market sentiment with gains of just over 0.50%. The index has 13 of its 15 constituents in the green, however, the downward movement by FMCG major HUL has proved to be a major setback for the index. HUL is down 3.67%.

    13:22 (IST)09 Apr 2020
    Titan's revenue hit by Coronavirus, here's what this means for Rakesh Jhunjhunwala's favourite stock.

    Titan Company Limited in an update ahead of the results for the March quarter said that serious disruptions in operations throughout March have hit revenue growth for not just the quarter, but for the year as well. 

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    13:10 (IST)09 Apr 2020
    S&P BSE Sensex crosses the 31,000 mark

    Domestic benchmark index jumped over 1100 points during the day's trade to sit above the 31,000 mark. Hero Motocorp was the biggest gainer with gains over 10%.

    12:56 (IST)09 Apr 2020
    Maruti Suzuki share price jumps 9.69%

    Auto major Maruti Suzuki saw its share price jump 9.96% to trade at Rs 5,139 per share. With the surge in share price the stock is now the biggest gainer on S&P BSE Sensex.

    Check live price

    12:25 (IST)09 Apr 2020
    COVID-19: Marico says Q4 EBITDA may see 'modest decline'

    FMCG major Marico said its January-March quarter EBITDA may see “modest decline” following disruptions on account of Covid-19 pandemic and associated lockdowns. During the lockdown period, there was a spike in the sales of its cooking oil brand Saffola as people were stocking household items, but overall, it had a “low single-digit volume decline” in the domestic business, Marico said in a regulatory filing.

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    11:52 (IST)09 Apr 2020
    Power demand falters as Covid-19 infects industries; electricity generation grows less than 1% in FY20

    Power generation consistently grew at a pace of more than 5 per cent between FY16 and FY19, but it steeply fell in the last fiscal (Apr-Jan) to a mere 0.92 per cent.

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    11:31 (IST)09 Apr 2020
    Interglobe Aviation: Target price 1,300 (Upside 31%) Outlook: Neutral; Motilal Oswal

    "As India moves out of the lockdown on 15th Apr’20, domestic operations are expected to start in a phased manner; however, international operations should still remain closed due to various travel ban advisories," said the brokerage and equity research firm in a research note. All countries where INDIGO operates have shut their borders for foreign travelers until further notice, the note highlighted.

    10:45 (IST)09 Apr 2020
    Kishore Biyani led future group having a troubled trading day on the street

    Future Consumer Limited, Future Retail, Future Lifestyle Fashions, and Future Supply Chain Solutions have all hit their respective 52-week lows on the National Stock Exchange today. This is the second consecutive day for all these shares to be hitting fresh lows.

    10:28 (IST)09 Apr 2020
    Consecutive 52-week highs for pharma firms

    Abbott India Limited, Alkem Laboratories Limited, Alembic Pharmaceuticals Limited, Bafna Pharmaceuticals Limited and Cadila Healthcare Limited  have all hit their respective 52-week highs yet again after reaching the same milestone just a day ago. 

    10:19 (IST)09 Apr 2020
    Sensex, Nifty trade with healthy gains, pvt banks, IT stocks rally; key factors from today’s trade

    Bouncing back from previous session’s fall, headline indices Sensex and Nifty jumped more than 2.5 per cent in the opening deals on Thursday led by buying in index weights such as HDFC twins, Kotak Mahindra Bank and Bharti Airtel. S&P BSE Sensex was trading 700 points or 2.34 per cent higher at 30,592, while the broader Nifty 50 index was up 216 points or 2.47 per cent at 8,964.

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    10:10 (IST)09 Apr 2020
    All aviation stocks on Sensex trade in green

    Although flight operations are still shut and uncertainty looms large on when airlines will be allowed to operate again, aviation stocks on Sensex are trading in the green. The relief rally, on the hope that coronavirus cases might soon reach their peak, is helping the stocks jump in trade.

    09:58 (IST)09 Apr 2020
    Banking stocks rally on Sensex

    A total of 33 bank stocks were trading in the green on Sensex on Thursday morning, while only two slipped into the red. The rally was led by Karur Vysa Bank, jumping 10%.

    09:56 (IST)09 Apr 2020
    Hindustan Unilever, Adani Ports fail to hop on the rally

    FMCG major Hindustan Unilever was the biggest loser on the National Stock Exchange, down by 1.85% to trade at Rs 2,415 per share while majority of the constituents jumped up trading in the green. Adani Ports was the other scrip to be down in red but marginally, down by 0.08%.

    09:53 (IST)09 Apr 2020
    Cipla, Cadila Healthcare from pharma sector hit 52-week highs on NSE

    Abbott India, Cadila Healthcare, Cipla, Divi's Laboratories, Dr Reddy's, Ruchi Soya and Torrent Pharma hit 52-week highs on NSE.

    09:41 (IST)09 Apr 2020
    Gold may rally further: Anuj Gupta, Deputy VP - Research, Angel Broking Ltd

    Economies are giving stimulous packages and to due this there is a chance of increase inflation. So, gold may also used for hedge against inflation. We are expecting gold may rally further. Although on Akshay Tritya an auspicious day gold demand may increase. For intraday perspective traders can buy gold at 44600, SL - 44200, Target - 45500. In the comex gold may test $1680 to $1720 per ounce levels soon, says Anuj Gupta, Deputy VP - Research, Angel Broking Ltd.

    09:38 (IST)09 Apr 2020
    MCX gold prices inched slightly lower ahead of US weekly jobless claims report: Jigar Trivedi

    MCX gold prices inched slightly lower ahead of a U.S. weekly jobless claims report as the dollar inched higher, while increasing appetite for risk on hopes that the new coronavirus pandemic is nearing a peak limited the metal's upside. The minutes of the Federal Reserve's emergency meetings in March showed policymakers trying to stay ahead of the rapidly spreading pandemic with decisions that may shape the global economy for decades to come, says Jigar Trivedi, Research Analyst- Commodities Fundamental, Anand Rathi Shares & Stock Brokers.

    09:37 (IST)09 Apr 2020
    Gold prices ease on profit booking

    Gold prices in India eased on profit booking on Thursday following the trend in global markets . Gold June futures were down just Rs 6 to Rs 44,935 per 10 grams. Silver May futures slipped 0.45 per cent or Rs 195 to Rs 42,944 per kg.

    09:33 (IST)09 Apr 2020
    Cipla share price hits 15% upper circuit

    Cipla share price hits 15% upper circut to Rs 590 apiece on BSE after company announced that it has received final approval for its Abbreviated New Drug Application (ANDA) for Albuterol Sulfate Inhalation Aerosol 90mcg (base)/actuation, from the United States Food and Drug Administration (US FDA).

    Check live prices: Cipla

    09:28 (IST)09 Apr 2020
    Nifty Pharma index up nealy 5%, Cipla jumps 15%

    Nifty Pharma index gained 4.93 per cent led by Cipla, Lupin and Glenmark. Similarly, Nifty Bank index jumped 3 per cent or 573 points with Axis Bank, ICICI Bank and IndusInd Bank as top index gainers.

    09:25 (IST)09 Apr 2020
    29 Sensex stocks in green

    Barring HUL, 29 Sensex stocks were trading in a positive territory with Axis Bank as the top gainer, up 4.91 per cent, followed by ICICI Bank, IndusInd Bank and HDFC.

    09:25 (IST)09 Apr 2020
    Sensex, Nifty gain nearly 3 per cent, track global markets

    S&P BSE Sensex was trading 805 points or 2.70 per cent higher at 30,699, while the broader Nifty 50 index was up 232 points or 2.65 per cent at 8,981.

    Check live Sensex, Nifty levels

    09:14 (IST)09 Apr 2020
    Equity markets to remain shut on Friday

    Domestic equity, commodity and money market will remain closed on Friday, April 10,2020, on account of Good Friday.

    09:09 (IST)09 Apr 2020
    Sensex jumps 650 points in pre-oepning session

    Domestic equity market benchmark indices Sensex and Nifty were trading higher in the pre-opening session. At 09:08 AM, the S&P BSE Sensex is up 677 points or 2.27 per cent at 30571.50.

    09:02 (IST)09 Apr 2020
    India to use low priced oil from Saudi, UAE to fill strategic reserves

    Capitalising on low global oil prices, India will fill its underground strategic oil reserves with oil from Saudi Arabia, the UAE and Iraq as it shores up supplies to meet any supply or price disruption. India has built 5.33 million tonnes of emergency storage — enough to meet its oil needs for 9.5 days, in underground rock caverns in Mangalore and Padur in Karnataka and Visakhapatnam in Andhra Pradesh.

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    08:45 (IST)09 Apr 2020
    FII and DII data

    Foreign institutional investors (FIIs) bought shares worth Rs 1,943.41 crore, while domestic institutional investors (DIIs) sold shares of worth Rs 1,757.79 crore on Wednesday, according to the provisional data available on the NSE.

    08:41 (IST)09 Apr 2020
    India seen unveiling second coronavirus stimulus worth $13 billion

    A second stimulus package India is poised to announce in coming days will be worth around 1 trillion rupees ($13 billion) and focus on help for small and medium businesses weathering the coronavirus outbreak, two senior officials said on Wednesday, Reuters reported.

    08:35 (IST)09 Apr 2020
    Markets to remain choppy: Ajit Mishra, VP - Research, Religare Broking

    The markets are expected to remain choppy while there could be intermittent relief rallies on account of any positive news regarding COVID-19. On the domestic front, IIP data for the February month would provide a sense of the impact of the virus led disruption on the manufacturing activity. Further, the outcome of OPEC meeting will also be keenly watched by the market participants across the globe. Considering the scenario, we suggest continuing with hedged positions and preferring index majors over the others for trading, says Ajit Mishra, VP - Research, Religare Broking Ltd.

    08:25 (IST)09 Apr 2020
    Traders should ideally follow a stock centric approach: Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking

    "On the higher side, 9000-9100 remains to be a study wall now and on the flipside, we may see weakness below 8650. Traders are advised to keep a tab of above mentioned levels and should ideally follow a stock centric approach. Amongst the notable movers, the Pharma space continues its recent dream run and this is probably a beginning of ending the 5-year bear phase," Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking, said.

    08:21 (IST)09 Apr 2020
    Covid-19 impact: India’s GDP may plummet to multi-decade low of 1.6% in FY21, says Goldman Sachs

    Economic growth is likely to plummet to a multi-decade low of 1.6 per cent in fiscal year 2020-21 due to COVID-19 pandemic and ensuing measures like lockdowns and social distancing, an American brokerage said on Wednesday in one of the bleakest forecasts on GDP yet. Indian policymakers have not been aggressive enough in their response till now to the crisis, and will need to eventually intensify their efforts, economists at Goldman Sachs said.

    Read full story

    08:19 (IST)09 Apr 2020
    SGX Nifty suggests positive opening for Sensex, Nifty

    Trends on SGX Nifty indicate a gap-up start for Sensex and Nifty with a 148 points or 1.69 per cent gain. The Nifty futures were trading at 8898.50 on the Singaporean Exchange.

    08:19 (IST)09 Apr 2020
    US markets gain on signs about COVID-19 in US was close to peak

    The health insurers got an additional lift from Bernie Sanders’ decision to suspend his presidential campaign and hopeful signs about COVID-19 in US was close to peak, US stocks surged. The Dow Jones Industrial Average rose 779.71 points, or 3.44%, to 23,433.57, the S&P 500 gained 90.57 points, or 3.41%, to 2,749.98 and the Nasdaq Composite added 203.64 points, or 2.58%, to 8,090.90.

    08:18 (IST)09 Apr 2020
    Asian shares track Wall Street gains

    Asian shares rose on Wednesday, tracking gains on Wall Street on hopes that the coronavirus pandemic is nearing a peak and that governments would roll out more stimulus measures. Hong Kong futures rose and Australian shares were set to open higher. Nikkei futures rose and were trading above the Nikkei 225 index’s previous close.

    08:18 (IST)09 Apr 2020
    Sensex, Nifty on Wednesday

    S&P BSE Sensex fell 173 points or 0.58 per cent to end at 29, 894, while the broader Nifty 50 index closed below 8,750, down 44 points or 0.49 per cent.

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