Share Market LIVE: Sensex ends below 29k, slips 1,200 points, Nifty below 8,300; pvt bank, IT stocks worst hit

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Updated:Apr 01, 2020 3:52:33 pm

Share Market News Today | Sensex, Nifty, Share Prices LIVE: All the sectoral indices were trading lower in Wednesday's trade. Nifty IT index was down 5.72 per cent weighed by Tech Mahindra, Mind Tree and TCS

Sensex. NiftyNifty Bank index dropped 4.72 per cent dragged by Kotak Mahindra Bank, PNB and SBI.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks Sensex and Nifty ended over 4 per cent lower on the first day of the financial year 2020-21, due to heavy sell-off in private bank and IT stocks. S&P BSE Sensex settled at  28,265, down 1,203 points or 4.08 per cent, while the broader Nifty 50 index ended at 8264, down 334 points or 3.89 per cent. As many as 26 stocks out of 30 Sensex stocks finished trade in deep sea of red, with Tech Mahindra and Kotak Mahindra Bank as top losers, down 9.21 per cent and 8.81 per cent, respectively, followed by TCS and Infosys. On the flip side, Hero MotoCorp, Bajaj-Auto, Bajaj Finance and Titan were the only gainers on Sensex. All the sectoral indices settled lower in Wednesday’s trade. Nifty IT index was down 5.48 per cent weighed by Tech Mahindra, Mind Tree and TCS. Similarly, Nifty Bank index dropped 4.92 per cent dragged by Kotak Mahindra Bank, Axis Bank and PNB.

Meeting the schedule for the amalgamation, the merger scheme for all the 10 public sector lenders into four bigger and stronger banks will come into force on April 1. The country’s central bank, the Reserve Bank of India, on Saturday said all branches of Oriental Bank of Commerce and United Bank of India will function as branches of Punjab National Bank, the anchor bank, from April 1. Similarly, all branches of Allahabad Bank will function as branches of Indian Bank from that day, while all branches of Andhra Bank and Corporation Bank will function as branches of Union Bank of India from April 1

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    15:32 (IST)01 Apr 2020
    Credit quality of Indian companies worsened in FY20: ICRA

    Domestic credit rating agency Icra said credit quality of Indian companies worsened in fiscal year 2019-20 as it downgraded Rs 7 lakh crore of debt and warned of “unprecedented strain” on credit profiles of corporates due to the coronavirus pandemic. The agency said policymakers will have to unleash more measures to avoid “severe economic imbalances” if the COVID-19 crisis prolongs. In its annual credit quality review after the end of the fiscal year, Icra said it downgraded Rs 7 lakh crore of debt in FY20, as against Rs 3 lakh crore in the year-ago period, driven largely by actions against financial sector companies.

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    15:29 (IST)01 Apr 2020
    Credit quality of Indian companies worsened in FY20: ICRA

    Domestic credit rating agency Icra said credit quality of Indian companies worsened in fiscal year 2019-20 as it downgraded Rs 7 lakh crore of debt and warned of “unprecedented strain” on credit profiles of corporates due to the coronavirus pandemic. The agency said policymakers will have to unleash more measures to avoid “severe economic imbalances” if the COVID-19 crisis prolongs. In its annual credit quality review after the end of the fiscal year, Icra said it downgraded Rs 7 lakh crore of debt in FY20, as against Rs 3 lakh crore in the year-ago period, driven largely by actions against financial sector companies.

    Read full story

    15:29 (IST)01 Apr 2020
    Credit quality of Indian companies worsened in FY20: ICRA

    Domestic credit rating agency Icra said credit quality of Indian companies worsened in fiscal year 2019-20 as it downgraded Rs 7 lakh crore of debt and warned of “unprecedented strain” on credit profiles of corporates due to the coronavirus pandemic. The agency said policymakers will have to unleash more measures to avoid “severe economic imbalances” if the COVID-19 crisis prolongs. In its annual credit quality review after the end of the fiscal year, Icra said it downgraded Rs 7 lakh crore of debt in FY20, as against Rs 3 lakh crore in the year-ago period, driven largely by actions against financial sector companies.

    Read full story

    15:29 (IST)01 Apr 2020
    Credit quality of Indian companies worsened in FY20: ICRA

    Domestic credit rating agency Icra said credit quality of Indian companies worsened in fiscal year 2019-20 as it downgraded Rs 7 lakh crore of debt and warned of “unprecedented strain” on credit profiles of corporates due to the coronavirus pandemic. The agency said policymakers will have to unleash more measures to avoid “severe economic imbalances” if the COVID-19 crisis prolongs. In its annual credit quality review after the end of the fiscal year, Icra said it downgraded Rs 7 lakh crore of debt in FY20, as against Rs 3 lakh crore in the year-ago period, driven largely by actions against financial sector companies.

    Read full story

    15:29 (IST)01 Apr 2020
    Credit quality of Indian companies worsened in FY20: ICRA

    Domestic credit rating agency Icra said credit quality of Indian companies worsened in fiscal year 2019-20 as it downgraded Rs 7 lakh crore of debt and warned of “unprecedented strain” on credit profiles of corporates due to the coronavirus pandemic. The agency said policymakers will have to unleash more measures to avoid “severe economic imbalances” if the COVID-19 crisis prolongs. In its annual credit quality review after the end of the fiscal year, Icra said it downgraded Rs 7 lakh crore of debt in FY20, as against Rs 3 lakh crore in the year-ago period, driven largely by actions against financial sector companies.

    Read full story

    15:29 (IST)01 Apr 2020
    Credit quality of Indian companies worsened in FY20: ICRA

    Domestic credit rating agency Icra said credit quality of Indian companies worsened in fiscal year 2019-20 as it downgraded Rs 7 lakh crore of debt and warned of “unprecedented strain” on credit profiles of corporates due to the coronavirus pandemic. The agency said policymakers will have to unleash more measures to avoid “severe economic imbalances” if the COVID-19 crisis prolongs. In its annual credit quality review after the end of the fiscal year, Icra said it downgraded Rs 7 lakh crore of debt in FY20, as against Rs 3 lakh crore in the year-ago period, driven largely by actions against financial sector companies.

    Read full story

    15:29 (IST)01 Apr 2020
    Credit quality of Indian companies worsened in FY20: ICRA

    Domestic credit rating agency Icra said credit quality of Indian companies worsened in fiscal year 2019-20 as it downgraded Rs 7 lakh crore of debt and warned of “unprecedented strain” on credit profiles of corporates due to the coronavirus pandemic. The agency said policymakers will have to unleash more measures to avoid “severe economic imbalances” if the COVID-19 crisis prolongs. In its annual credit quality review after the end of the fiscal year, Icra said it downgraded Rs 7 lakh crore of debt in FY20, as against Rs 3 lakh crore in the year-ago period, driven largely by actions against financial sector companies.

    Read full story

    15:29 (IST)01 Apr 2020
    Credit quality of Indian companies worsened in FY20: ICRA

    Domestic credit rating agency Icra said credit quality of Indian companies worsened in fiscal year 2019-20 as it downgraded Rs 7 lakh crore of debt and warned of “unprecedented strain” on credit profiles of corporates due to the coronavirus pandemic. The agency said policymakers will have to unleash more measures to avoid “severe economic imbalances” if the COVID-19 crisis prolongs. In its annual credit quality review after the end of the fiscal year, Icra said it downgraded Rs 7 lakh crore of debt in FY20, as against Rs 3 lakh crore in the year-ago period, driven largely by actions against financial sector companies.

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    15:21 (IST)01 Apr 2020
    Horlicks, Boost will now be brought by makers of Lifebuoy, Surf Excel, Lakme as GSKCH merges with HUL

    Popular milk supplement brands Horlicks, Boost will now be brought by the makers of Dove, Pears and Lipton brands, among others as GlaxoSmithKline Consumer Healthcare Limited’s merger with HUL has been completed. FMCG major Hindustan Unilever Limited today announced that it has successfully completed the merger of GSKCH. The merger was announced in December 2018.

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    15:10 (IST)01 Apr 2020
    Nifty IT index down 5.72%, Tech Mahindra top loser

    All the sectoral indices were trading lower in Wednesday’s trade. Nifty IT index was down 5.72 per cent weighed by Tech Mahindra, Mind Tree and TCS. Similarly, Nifty Bank index dropped 4.72 per cent dragged by Kotak Mahindra Bank, PNB and SBI.

    15:09 (IST)01 Apr 2020
    Sensex, Nifty extend losses, down nearly 4%

    S&P BSE Sensex was trading at 28,321.94, down 1,146.55 points or 3.89 per cent, while the broader Nifty 50 index was trading at 8,265, down 332 points or 3.86 per cent.

    Check live Sensex, Nifty levels

    14:51 (IST)01 Apr 2020
    This large cap telecom stock delivered 34% gain in FY20, brokerages see up to 40% upside. Check target price

    Telecom major Bharti Airtel share price gained nearly 34 per cent, from Rs 390 apiece on last day of the FY19 to Rs 441 on March 31, 2020. Despite several ups and downs in the last fiscal, Bharti Airtel share price managed to deliver decent returns as compared to 24 per cent decline in S&P BSE Sensex.

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    14:45 (IST)01 Apr 2020
    RBI relief for exporters: More time given to realise value of exports from Covid-19 hit nations

    The Reserve Bank of India has extended the period of realisation of the value of exports to 15 months from the date of export. At present, the value of the goods or software exports made by the exporters is required to be realised fully and repatriated to the country within a period of 9 months from the date of exports, RBI said in a statement. 

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    14:08 (IST)01 Apr 2020
    Buy Hero Motocorp, target price Rs 2,501 (ICICI Securities)

    Hero MotoCorp’s (HMCL) management hosted a conference call to update investors on business impact of COVID-19 outbreak and to allay fears on BS-VI transition. Key points from the concall: a) BS-IV inventory liquidation largely to complete with stock (~12k units) in NCR region to be recalled; BS-VI dealer inventory is of one month b) HMCL to support dealers amidst COVID-19 lockdown with focus on easing liquidity concerns; c) current focus on remains on maintaining health precautions and developing contingencies around possible supply chain issues; d) no liquidity concerns as company holds liquid funds worth ~Rs40bn: ICICI Securities

    13:33 (IST)01 Apr 2020
    Abhijit Banerjee points holes in FinMin relief package: Bigger one required if lockdown persists

    Nobel laureate economist Abhijit Banerjee has pointed out gaps in Finance Minister Nirmala Sitharaman’s economic relief package aimed towards helping the most vulnerable sections of the society amid lockdown. “It is a package that assumes that the crisis will be over in a couple of weeks. Even for India’s very poor Indians, Rs 500 is nothing.

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    13:18 (IST)01 Apr 2020
    Where to invest in new financial year 2020-21? As world economy slows down, experts find opportunities

    Even as investors recently lost most of the gains made during the first half of the previous fiscal, market participants are busy chalking out plans on how to tide over the troubles that the new financial year brings.

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    13:04 (IST)01 Apr 2020
    IndusInd Bank, Bajaj Finance and Axis Bank were the top losers on BSE in March

    IndusInd Bank tanked 68% in the last one month while Bajaj Finance dropped 50% and Axis Bank fell by 46% making them the biggest losers on S&P BSE Sensex in the month of March.

    12:57 (IST)01 Apr 2020
    5 steps government should take to save MSMEs amid economic slowdown due to Coronavirus

    The Covid-19 pandemic has caused an economic slowdown on a global scale as the markets and businesses are unable to operate under these circumstances. Companies, especially the MSMEs, are struggling to keep afloat as their business activities collapse over time. The subsequent lockdowns have virtually shut down the businesses.

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    12:29 (IST)01 Apr 2020
    Trading window closed for SBI Cards

    "We wish to inform that in pursuance of SEBI (Prohibition of Insider Trading) Regulations, 2015 and Company's Code of Conduct forRegulating, Monitoring, and Reporting of Trading by Insiders and for Fair Disclosure of Unpublished Price Sensitive Information, the TradingWindow for dealing in the securities of the Company shall remain closed from 1st Day of April, 2020 till 48 hours after the declaration ofFinancial Results for the quarter and the year ended March 31, 2020," SBI Cards and Payment Services said in filing to the market regulator.

    12:27 (IST)01 Apr 2020
    Oil price war may end soon due to this reason; crude prices record largest quarterly fall in Q4

    A price war in the oil market and the rage to produce more may soon end as the storage facilities are about to reach their full capacity. The bloodbath in the global crude oil market has led to the largest quarterly drop in the oil prices during quarter ending-March. The crude oil benchmarks have recorded a major decline, with WTI and Brent’s futures losing nearly 66 per cent of their value during January – March 2020.

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    12:08 (IST)01 Apr 2020
    Are Mother Dairy milk supplies on track? Check what problems the company faces in lockdown

    Mother Dairy, one of the leading dairy companies in Delhi NCR, has said that while supply-chain problems persist for the company due to the lockdown, it is prepared to handle the situation. While the company currently is not facing issues related to packaging material of the milk, other items are posing problems.

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    12:00 (IST)01 Apr 2020
    Edelweiss Financial Services Ltd hits upper circuit for 5-straight trading session

    Edelweiss Financial Services surged 5% to hit the upper circuit at Rs 40.05 per share. This is the 5th consecutive day when the financial services company has hit the upper circuit.

    11:47 (IST)01 Apr 2020
    Stock markets’ woes to get deeper as Jim Rogers expects worst bear mkt in coming years

    As global stocks attempt to recover from their biggest quarterly loss since the global financial crisis, veteran investor Jim Rogers says there’s worse to come. The current rebound in markets may continue for a while following a bout of extreme pessimism, but another rout is imminent, according to the chairman of Rogers Holdings Inc. That’s because of a triple whammy of coronavirus-fulled economic damage, high debt levels and interest rates that are low, which will hurt when they rise.

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    11:45 (IST)01 Apr 2020
    Ashok Leyand share price down 1.4% after weak sales numbers

    Ashok Leyland reported a 91 per cent on-year decline in domestic sales. Ashok Leyland share price was down 1.39 per cent to Rs 42.45 apiece on BSE in Wednesday's trade.

    Check live prices: Ashok Leyland

    11:23 (IST)01 Apr 2020
    Buy Bharat Petroleum Corporation (BPCL), target price Rs 340 : ICICI Securities

    Currently, diesel and petrol sales constitute ~41% and ~16% of total marketing sales volume of BPCL. Government restrictions on travel have resulted into a significant decline in diesel and petrol sales. ATF sales are also expected to be lower as commercial flights are banned while LPG sales are expected to be flat or marginally higher. The lockdown will result in total sales decline of 14.5% YoY and 24.4% YoY for Q4FY20E and Q1FY21E, respectively. As retail prices have not declined in proportion to oil prices, we expect higher marketing margins QoQ for BPCL. On the refining front, we expect core margins at US$2.7/bbl while inventory loss is expected leading to negative normalised margins.

    10:57 (IST)01 Apr 2020
    Radhakishan Damani picks up 15.5 lakh shares of Delta Corp

    Avenue Supermarts promoter Radhakishan Damani has picked up 15.5 lakh shares of Delta Corp in a bulk deal. Damani joins ace investor Rakesh Jhunjhunwala in picking up stake in the company.

    10:39 (IST)01 Apr 2020
    BPCL, SBI, PNB biggest losers among Public Sector Enterprises

    BPCL tanked 5.76%, while India's largest public-sector lender State Bank of India dropped 3.6% and Punjab National Bank fell by 3.5% making them the three biggest losers among public-sector firms on BSE.

    10:26 (IST)01 Apr 2020
    Sensex, Nifty drop over 2% on first day of FY21; check what’s pulling Dalal Street lower today

    Bouncing back from the previous session’s gains, domestic equity market benchmarks Sensex and Nifty started the financial year 2020-21 on a negative note, down 2 per cent on Wednesday, taking cues from the weak global cues. The 30-share index Sensex was down 658 points or 2.24 per cent to 28,809, while the broader Nifty 50 index was ruling at 8417, down 191 points or 2.22 per cent.

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    10:14 (IST)01 Apr 2020
    PSB merger today: SBI, PNB trade lower, Indian Bank share price jumps 5%

    The merger scheme for all the 10 public sector lenders into four bigger and stronger banks will come into force from today. State Bank of India (SBI) share price was down nearly 4%, Punjab National Bank (PNB) was trading 4.88 per cent lower while Indian Bank share price gained 4.64 per cent in Wednesday's trade.

    10:02 (IST)01 Apr 2020
    Future retail has hit the lower circuit for eighth consecutive day

    Share price of Future Retail tanked 5% yet again Wednesday to trade at Rs 74.85, a new 52-week low for the scrip. 

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    09:54 (IST)01 Apr 2020
    Glaxosmithkline Consumer Healthcare Ltd fall 0.5% after hitting 52-week high

    GSK Consumer healthcare hit a new 52-week high of Rs 10,075 per share on BSE as equity markets opened for trading on Wednesday, only to pare all gains and trade in the red in a matter of a few minutes. 

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    09:43 (IST)01 Apr 2020
    IndusInd Bank, HUL, Nestle India only Sensex gainers

    IndusInd Bank, Hindustan Unilever (HUL) and Nestle India were the only Sensex gainers. Kotak Mahindra Bank was the top loser on Sensex, down 8 per cent to Rs 1192.60 apiece.

    09:42 (IST)01 Apr 2020
    Gold likely to weaken further: Jigar Trivedi, Fundamental Research Analyst

    MCX Gold fell sharply continuing with yesterday's momentum. The U.S. dollar firmed following the Federal Reserve's latest stimulus boost and as Asian equities slipped with the coronavirus pandemic sharply slowing global growth. The SPDR gold ETF witnessed a small bunch of inflows. However as mentioned earlier, due to strong dollar, the yellow metal is likely to weaken further. The local currency market will be close for two days hence, rupee impact will not be seen in gold prices, says Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Shares and Stock Brokers.

    09:38 (IST)01 Apr 2020
    Nifty FMCG index holds ground in weak market

    Barring NIfty FMCG index, all the sectoral indices were trading lower in Wednesday's trade. Nifty Bank index was down 2.21 per cent weighed by Kotak Mahindra Bank, SBI and HDFC Bank. While Nifty FMCG index was up nearly a per cent led by gains in Godrej Consumer Products, Britannia and Emami.

    09:33 (IST)01 Apr 2020
    Equity, money markets shut on April 2

    Equity market and money markets will also remain closed on April 2, 2020 on account of Ram Navami.

    09:32 (IST)01 Apr 2020
    Yes Bank share price drops 5%

    Yes Bank share price dropped 4.68 per cent to Rs 21.40 apiece on BSE after Sebi on Tuesday imposed a penalty of Rs 50 lakh each on two promoter entities of Yes Bank for not making requisite disclosures pertaining to encumbrance of shares.

    Check live prices: Yes Bank

    09:28 (IST)01 Apr 2020
    S&P BSE Bankex opens 400 points down

    S&P BSE Bankex is down 400 points or 1.81% as only two of its contituents trade in the green. IndusInd Bank, after losing ground on Monday and TUesday is up 9.67% while on the other end, Kotak Mahindra Bank is down 5.45%.

    09:25 (IST)01 Apr 2020
    Top losers on S&P BSE Sensex

    As many as 26 stocks out of 30 Sensex stocks were trading in red, with ONGC as the top Sensex loser, down 4.25 per cent, followed by Kotak Mahindra BankSBI and Tech Mahindra.

    09:24 (IST)01 Apr 2020
    IndusInd Bank share price up 6%, top Sensex gainer

    IndusInd Bank share price jumps 6 per cent to Rs 372 a piece on BSE on Wednesday after the promoters made full loan repayment to citi Bank.

    check live prices: IndusInd Bank

    09:21 (IST)01 Apr 2020
    Sensex, Nifty slip in opening trade

    Sensex was trading 256 points or 0.87 per cent down at 29,212, while the broader Nifty 50 index was trading at 8536, down 61 points or 0.71 per cent.

    Check live Sensex, Nifty prices

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