Market Highlights: Sensex ends 173 pts down after rising 1,000 pts in intraday, Nifty below 8,750; TCS top drag

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Updated:Apr 08, 2020 5:43:16 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: TCS was the top Sensex loser, down 3.91 per cent, followed by Titan, ICICI Bank and SBI. On the flip side, Sun Pharma was the top Sensex gainer.

Share Market Today, Share Market LiveMost of the sectoral indices settled in a negative territory. Nifty Bank index finished lower weighed by Federal Bank, ICICI Bank

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity market benchmarks Sensex and Nifty failed to hold the morning gains and settled over half a per cent lower in Wednesday’s volatile session dragged by weakness TCS, ICICI Bank and Reliance industries (RIL). 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. As many as 15 stocks out of 30 Sensex stocks settled in red today. TCS was the top Sensex loser, down 3.91 per cent, followed by Titan, ICICI Bank and SBI. On the flip side, Sun Pharma was the top Sensex gainer, up 4.69 per cent. NTPC, IndusInd Bank, Bajaj Finance and Maruti were among other gainers on the index. Most of the sectoral indices settled in a negative territory. Nifty Bank index finished lower weighed by Federal Bank, ICICI Bank and SBI. Conversely, Nifty Pharma index gained 3.54 per cent led by gains in Cadila Healthcare, Sun Pharma and Cipla.

Rating agency ICRA on Tuesday said that it was expecting the coronavirus to impact India Inc on multiple counts. The fallout of the virus could range from domestic demand slowdown, supply chain disruptions to foreign exchange rate fluctuations, among others. Icra Ratings on Tuesday sharply cut the country”s GDP forecast amid the COVID-19 crisis and expects the economy to grow at just 2 per cent in the current fiscal. It said the nationwide lockdown announced to contain the coronavirus outbreak has impacted industries and their operations have come to a standstill. “The Indian economy is likely to witness a sharp contraction of 4.5 per cent (de-growth) during Q4 FY20 and is expected to recover gradually, to post a GDP growth of just 2 per cent in FY21,” the rating agency said.

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Highlights

    15:27 (IST)08 Apr 2020
    Asian markets mostly down as traders fret over coronavirus

    Most Asian equities retreated Wednesday after a two-day rally as investors closely track developments in the coronavirus crisis, while the oil market continued to fluctuate ahead of a crucial producers’ meeting. While the deadly disease continues to sweep across the planet, signs that the rate of infections is possibly levelling out and countries are preparing to ease some lockdown restrictions have instilled a semblance of optimism this week.

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    15:17 (IST)08 Apr 2020
    Economic impact of coronavirus deepens, second round of relief package for corporate India in offing

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    14:47 (IST)08 Apr 2020
    L&T wins ‘large’ contract from Indian Oil for capacity expansion at Barauni Refinery

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    14:24 (IST)08 Apr 2020
    Recession is already here: Evidence piles up showing deep distress beginning March

    The evidence is mounting that March marked the start of a deep global recession. The breadth of the collapse is beginning to appear in the initial trickle of economic data across the world, revealing a cratering of trade, reined-in business investment, cowering consumers and surging unemployment that’s sparing few industries.

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    14:21 (IST)08 Apr 2020
    Top gainers and losers on S&P BSE Sensex

    As many as 16 stocks out of 30 Sensex stocks were trading in a negative territory, with TCS as top loser with a decline of 3.74 per cent, followed by TitanBharti Airtel and ICICI Bank. On the contrary, Sun Pharma was the top Sensex gainer, up 4.70 per cent. NTPC, HCL Tech and Tech Mahindra were the other gainers on the pack

    14:20 (IST)08 Apr 2020
    Sensex, Nifty turn negative in afternoon deals

    S&P BSE Sensex was trading at 29,837, down 230.31 points or 0.77 per cent, while the broader Nifty50 index was ruling at 8,729, down 63 points or 0.72 per cent.

    Check live Sensex, Nifty levels

    13:56 (IST)08 Apr 2020
    DMart’s Radhakishan Damani only Indian tycoon to get richer during lockdown; here’s how

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    13:42 (IST)08 Apr 2020
    Indian capital markets are witnessing a changing landscape due to coronavirus, here's how

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    13:35 (IST)08 Apr 2020
    Auro Laboratories leads the gainers on Sensex

    Auro Laboratories jumped 20% on Wednesday to trade at Rs 44 per share. With the 20% surge in price it is the leading gainer on Sensex.

    13:17 (IST)08 Apr 2020
    IRCTC share price hits upper circuit, stock gains 16% in just 4 trading days

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    13:07 (IST)08 Apr 2020
    Pharma shares jump, Cadila Healthcare, IPCA Labs reach new highs on hopes of surging drug sales

    The rally among pharma stocks could also be attributed to the recent spike in demand for the hydroxychloroquine -- a drug that is being used globally to treat patients infected with Coronavirus.

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    12:48 (IST)08 Apr 2020
    GST: 5 reasons why India’s largest indirect tax reform is eventually good for small businesses

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    12:24 (IST)08 Apr 2020
    IndiGo CEO Ronojoy Dutta showers praises on Air India: Check why Maharaja is getting applauses

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    12:05 (IST)08 Apr 2020
    IRCTC share price hits 5% upper circuit

    IRCTC share price hits 5% upper circuit to Rs 1,194.05 apiece on BSE in Wednesday's trade. Indian Railway Catering and Tourism Corporation on Tuesday, announced the suspension of its three private trains operation as Covid-19 cases rise in India.

    11:53 (IST)08 Apr 2020
    Pit deepens for gem & jewellery sector: No relief likely in coming months; these factors hit most

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    11:39 (IST)08 Apr 2020
    Gold prices ease from record high, slip below Rs 45,000; silver rates slump over Rs 600

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    11:35 (IST)08 Apr 2020
    Employment rate falls to record low; workers hopeless about jobs walk out of job market

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    11:10 (IST)08 Apr 2020
    MSCI could pump India's weightage by 55 bps, paving the way for over billions entering the bourses

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    11:05 (IST)08 Apr 2020
    Sensex mounts 31k, Nifty trades at highest level in 13 sessions; check key factors behind this rally

    Defying global market cues, domestic equity markets turned positive in Wednesday’s trade led by gains in index heavyweights such as HDFC, HDFC Bank, ICICI Bank, RIL and HUL. S&P BSE Sensex jumped more than 1,000 points or 3.47 per cent to trade at 31,110, while the broader Nifty 50 index was ruling at 9,084, up 292 points or 3.42 per cent.

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    10:49 (IST)08 Apr 2020
    Nifty Private Bank up 5%

    All the sectoral indices were trading higher in Wednesday's trade. Nifty Private Bank index was over 5 per cent up led by gains in Bandhan Bank, RBL Bank and IndusInd Bank. Similarly, Nifty Auto index was also trading higher driven by Ashok Leyland, Bharat Forge and maruti Suzuki.

    10:35 (IST)08 Apr 2020
    Sensex gains 1,000 points, Nifty reclaims 9,000 level

    S&P BSE Sensex jumped more than 1,000 points or 3.47 per cent to trade at 31,110, while the broader Nifty 50 index was ruling at9,084, up 292 points or 3.42 per cent.

    Check Sensex, Nifty live levels

    10:25 (IST)08 Apr 2020
    Top gainers and losers on S&P BSE Sensex

    As many as 26 stocks out of 30 Sensex stocks were trading in positive territory, with M&M (Mahindra and Mahindra) as top gainer with a growth of 8 per cent, followed by Axis BankHUL, and HDFC. On the contrary, TCS was the top Sensex loser, down 1.5 per cent. ITC and Bajaj Finance were the other laggards on the pack.

    10:06 (IST)08 Apr 2020
    S&P BSE Bankex jumps 1.2%

    Sectoral index S&P BSE Bankex jumped 1.2% or 256 points as eight of the nine constituents were trading in the green. The biggest gainers was RBL Banl, up by 10%. Federal Bank was only laggard, going down by 1.5%.

    09:56 (IST)08 Apr 2020
    Sensex, Nifty rise in trade, up 1% each

    Sensex and Nifty surged sharply in last few minutes, rising more than 1% each against 1% lower opening. Sensex reclaimed its crucial 30,000 while Nifty was abobe 8,950.

    Check live Sensex, Nifty levels

    09:43 (IST)08 Apr 2020
    Sensex, Nifty trim losses, turn positive

    S&P BSE Sensex turned positive and was trading at 30,089.47, up just 22 points, while the broader Nifty50 index was ruling at 8,800.

    Check live Sensex, Nifty levels

    09:38 (IST)08 Apr 2020
    Deepak Nitrite jumps 5.25% in opening deals

    Deepak Nitrite share price jumped 5.23 per cent to Rs 455.75 apiece on BSE in Wednesday's trade after company informed that in order to support uninterrupted supply of essential commodities across the nation, after taking all precautionary measures for ensuring (a) supply of raw materials and manpower; and (b) safety of its workmen, company has commenced production of 2EHN atits Nandesarifacility effective April 6, 2020.

    Check live prices: Deepak Nitrite

    09:33 (IST)08 Apr 2020
    IRCTC share price hits 5% upper circuit

    IRCTC share price hits 5% upper circuit to Rs 1,194.05 apiece on BSE in Wednesday's trade. Indian Railway Catering and Tourism Corporation has suspended operations of three private trains it was operating till April 30, as Covid-19 cases rise in India.

    Check live prices: IRCTC

    09:30 (IST)08 Apr 2020
    Nifty Pharma index jumps 3.75% in weak market

    Most of the sectoral indices were trading lower in today’s trade. Nifty Bank index was down nearly 3 per cent dragged by IndusInd Bank, Axis Bank and ICICI Bank. On the other hand Nifty Pharma index was trading 3.75 per cent higher led by gains in Cadila HealthcareCipla and Biocon.

    09:29 (IST)08 Apr 2020
    Top gainers and losers on S&P BSE Sensex

    As many as 21 stocks out of 30 Sensex stocks were trading in red with IndusInd Bank as the top loser, down 5.18 per cent, followed by Axis BankBajaj Finance and ICICI Bank. On the flip side, HCL TechHULSun Pharma and LT top Sensex gainers. 

    09:29 (IST)08 Apr 2020
    Sensex, Nifty drop in opening trade

    S&P BSE Sensex was trading at 29,740, down 327 points or 1.09 per cent, while the broader Nifty 50 index was ruling down 71 points or 0.81 per cent at 8,720.

    Check live Sensex, Nifty levels 

    09:09 (IST)08 Apr 2020
    Sensex, Nifty trade negative in pre-opening session

    Domestic equity benchmark indices were trading lower in the pre-opening session. At 09:05 AM, the S&P BSE Sensex was  trading at 29,714.48, down 352.73 points or 1.17 per cent

    09:04 (IST)08 Apr 2020
    Coronavirus in India: Centre mulls longer COVID-19 lockdown

    With the number of COVID-19 cases in India nearing the 5,000-mark, the Centre is considering suggestions from a number of states that the restrictions in place during the 21-day national lockdown should be extended beyond the deadline of April 14, government sources said.

    Read full story

    08:50 (IST)08 Apr 2020
    FII and DII data

    Foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 741.77 crore, while the domestic institutional investors (DIIs) were net buyers to the tune of Rs 422.51 crore on Tuesday, data available with NSE suggested.

    08:48 (IST)08 Apr 2020
    US stocks fall

    The S&P 500 had ended Tuesday down 0.16%. The Nasdaq dropped 0.33% and the Dow 0.12%. After US stock markets closed, President Donald Trump said the United States may be getting to the top of the coronavirus curve, Reuters reported. 

    08:47 (IST)08 Apr 2020
    Asian markets drop

    Asian markets plunged on Wednesday as investors turned wary on getting too optimistic about the coronavirus while death tolls were still mounting across the globe. Japan’s Nikkei dropped 0.7% and South Korea 0.8%. E-Mini futures for the S&P 500 shed early gains to turn 0.7% lower as investors took profits on the recent spike.

    08:42 (IST)08 Apr 2020
    Coronavirus to impact India Inc on multiple fronts: Icra

    Rating agency ICRA on Tuesday said that it was expecting the coronavirus to impact India Inc on multiple counts. The fallout of the virus could range from domestic demand slowdown, supply chain disruptions to foreign exchange rate fluctuations, among others. Earlier, Icra had downgraded the ratings of 584 entities, against 282 upgrades in last financial year. The rating agency feels that even this financial year will be challenging for India Inc’s credit quality.

    Read full story

    08:41 (IST)08 Apr 2020
    States pick up Rs 32,560 crore from bond market, long-tenor yields shoot up

    In what is believed to be one of the largest state development loan (SDL) auctions conducted in a single week, nineteen states have picked up a total of Rs 32,560 crore from the bond market on Tuesday against the notified amount of Rs 37,500 crore. Yields on 10-year SDLs have shot up by at least 50 basis points led by the huge supply.

    Read full story

    08:21 (IST)08 Apr 2020
    Traders should book timely profits: Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking

    Since it was a broad based rally today, almost all pockets managed to rebound sharply, especially recent beaten down spaces like private banks and Auto counters. However, the stage was set by the pharma counters on Friday who continued their remarkable run today to clock another 8-10% upmove. Traders are advised to capitalise on such rebounds and look to book timely profits for a while, says Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking)

    08:13 (IST)08 Apr 2020
    Sensex, Nifty on Tuesday

    Domestic equity market benchmarks Sensex and Nifty snapped the losing streak to post the best trading day in percentage terms since May 2009 on Tuesday. S&P BSE Sensex gained 2,476 points or 8.97 per cent at 30,067, while the broader Nifty 50 finished at 8,785, up 702 points or 8.69 per cent. 

    08:12 (IST)08 Apr 2020
    SGX Nifty suggests negative start for Sensex, Nifty

    Trends on SGX Nifty indicate a gap-down start for Sensex and Nifty with a 141 points or 1.59 per cent loss. The Nifty futures were trading at 8734.50 on the Singaporean Exchange.

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