Market Highlights: Last hour sell-off drags Sensex over 1,300 pts down from day’s high, Nifty ends below 8,950

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Updated: April 15, 2020 4:34:08 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: As many as 18 stocks out of 30 Sensex stocks finished trade in red with Kotak Mahindra Bank as top loser, down 6.23 per cent, followed by Hero MotoCorp, Bajaj Finance, HDFC and HDFC Bank

Share Market Today, Share Market LiveHUL was the top Sensex gainer, up 3.7 per cent. Larsen & Toubro, ITC and UltraTech Cement were among the other gainers on the pack

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Sell-off intensified in the last hour of the Wednesday’s trade dragging S&P BSE Sensex and Nifty 50 index down. Index heavy weights such as HDFC Bank, RIL, HDFC, Kotak Mahindra Bank and TCS were among the top contributors towards today’s fall. During the intraday trade Sensex fell over 1,300 from day’s high while Nifty slipped below 8,900-mark. S&P BSE Sensex ended 310 points or 1.01 per cent down at 30,380, while the Nifty 50 index settled at 8,925. As many as 18 stocks out of 30 Sensex stocks finished trade in red with Kotak Mahindra Bank as top loser, down 6.23 per cent, followed by Hero MotoCorp, Bajaj Finance, HDFC and HDFC Bank. Conversely, HUL was the top Sensex gainer with a growth of 6 per cent. HCL Tech, ITC and Nestle India were among the other Sensex gainers.

The global economy is expected to shrink by 3.0% during 2020 in a stunning coronavirus-driven collapse of activity that will mark the steepest downturn since the Great Depression of the 1930s, the International Monetary Fund said on Tuesday. The IMF, in its 2020 World Economic Outlook, predicted a partial rebound in 2021, with the world economy growing at a 5.8% rate, but said its forecasts were marked by “extreme uncertainty” and that outcomes could be far worse, depending on the course of the pandemic, Reuters reported.

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Highlights

    15:26 (IST)15 Apr 2020
    SBI Cards and Payment Services share price down 34% from record-high

    Credit cards are under pressure due to moratorium and expected delay in recovery as asset quality to deteriorate in near-term. However, as it will gain through extension of charges for overdue payment, longer-term makes it a must-have at these levels closer to 500/525, says Sanjiv Bhasin, director of IIFL Securities.

    15:21 (IST)15 Apr 2020
    Vistara’s salary cut for senior staff; asks to go on leave without pay for few days in April

    As coronavirus continues to take toll on India’s aviation sector, Tata SIA’s joint venture Vistara has asked its top management to go on leave without pay for few days. The airline has directed its senior employees to go on leave without pay for up to three days between April 15 and April 30, PTI reported citing Vistara CEO as saying. As the government has extended the lockdown for 19 more days, the flight services also remain grounded, adding to the pains of a sector that was already reeling under technical issues such as grounding of Boeing 737 MAX aircraft, before lockdown.

    Read full story

    15:10 (IST)15 Apr 2020
    Pharma stocks gain in weak market; HUL, ITC, Nestle India among top Sensex gainers

    Even as S&P BSE Sensex and Nifty 50 index decline, pharma stocks are trading higher. HUL, ITC and Nestle India are among top Sensex gainers in the late afternoon deals.

    Check live Sensex, Nifty levels

    15:04 (IST)15 Apr 2020
    S&P BSE BANKEX worst sectoral performer

    S&P BSE BANKEX was the worst sectoral performer, down 2.69 per cent dragged by weakness in Kotak Mahindra Bank, HDFC Bank, ICICI Bank, SBI (State Bank of India) and Axis Bank.

    14:53 (IST)15 Apr 2020
    Sensex, Nifty fell on the back of pressure in dow futures: Amit Gupta, Cofounder Tradingbells

    Market was already factoring a good monsoon where we saw a good rally in consumption and rural related stocks in the morning, but market fell sharply post IMD press conference on the back of pressure in dow futures. After 9100 level, 9300-9400 was a supply zone where bears again come back aggressively, says Amit Gupta, Cofounder Tradingbells.

    14:48 (IST)15 Apr 2020
    The sudden fall in the markets was led by profit booking: Vishal Wagh, Bonanza Portfolio

    S&P BSE Sensex was trading 268 points or 0.87 per cent down at 30,421, while the broader Nifty 50 index was ruling at 8,942, down 51 points or 0.57 per cent. "The sudden fall in the markets was led by profit booking. Those holding long since 8000 level, booked profit. As lockdown has also extended to May 3, 2020. There is a bad news from crude also, crude oil futures plunged on low demand. Global market are also showing sell-off and Dow future has corrected by 450 points, says Vishal Wagh, Research Head, Bonanza Portfolio Ltd.

    14:37 (IST)15 Apr 2020
    What caused sudden fall in Sensex, Nifty?

    S&P BSE Sensex has fallen over 1,300 points from day's high while the broader Nifty 50 index breached 8,900 level in the afternoon deals. "After witnessing a fall from highs of about 12,500 for Nifty to levels of about 7500. The markets have as usual shown good pullback from lows. However market's at current levels of about 9200-9500 is decent for the time being as it gets fairly valued. Keeping in mind future cut in earnings outlook for FY21 and pace of broad recovery. Thus, we have seen selling resuming at these levels," Narendra Solanki, Head Fundamental Research, Anand Rathi Shares and Stock Brokers, said.

    14:26 (IST)15 Apr 2020
    Kotak Mahindra Bank share price drops 7.5%

    Kotak Mahindra Bank as top loser, down 7.5 per cent followed by HDFC Bank, Bajaj Finance and Maruti. On the flip side, HUL was the top Sensex gainer, up 3.7 per cent. Larsen & Toubro, ITC and UltraTech Cement were among the other gainers on the pack.

    Check live prices: Kotak Mahindra Bank

    14:22 (IST)15 Apr 2020
    S&P BSE Sensex, Nifty 50 fall over 1%

    S&P BSE Sensex was trading 321 points or 1.05 per cent down at 30,328, while the broader Nifty 50 index was ruling at 8,911, down 82 points or 0.91 per cent.

    Check live Sensex, Nifty levels

    14:11 (IST)15 Apr 2020
    Rupee ends at day's low of 76.45 against US dollar

    Indian rupee ended at day's low of 76.45 against the US dollar on Wednesday. It settled at 76.27 a dollar in Monday's trade.

    14:04 (IST)15 Apr 2020
    How weather affects India’s economy?

    Adverse climatic conditions are weighing heavily on India’s economy. Humidity and temperature play a crucial role in the overall health of the economy and over the years, their patterns have changed. Weather conditions have a significant impact on some of the key indicators of economic activity like PMI, IIP, demand for electricity, trade, tourist arrivals, and tractor and automobile sales, RBI said in its study. The study also revealed a causality relation between temperature and per capita GDP.

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    14:01 (IST)15 Apr 2020
    Economic activities can be restored to the extent of 30-40%: Deepak Sood, Secretary General, ASSOCHAM

    If implemented well and in a responsible manner, the economic activities can be restored to the extent of 30-40 per cent by our back-of-envelope calculations. “After all, segments like food processing, cargo movement, postal services, courier services, ports, manufacture of IT hardware, mining, electricity generation, telecom, jute industries, packaging material, pharmaceuticals besides all essentials are being allowed. The entire agri value chain has been covered under the exemptions. The challenge lies how well we are able to use these exemptions in full conformity of the guidelines and in spirit of Prime Minister Shri Narendra Modi's call for strict adherence to safety measures, says Deepak Sood, ASSOCHAM secretary general.

    13:58 (IST)15 Apr 2020
    Lockdown exemptions can help partial but key restoring of economy: ASSOCHAM

    Exemptions from lockdown measures are wide-ranging in nature and under the given circumstances of health emergency, this is the best we could expect from the government, said ASSOCHAM secretary general, Deepak Sood. “Industries operating in rural areas or outside the municipality limits, special economic zones and industrial townships with certain conditions, which can be fulfilled with some costs, are a kind of partial lifting of lockdown. This is, in a way, graded opening of the economy, a proposition being advocated by ASSOCHAM. We only hope and would urge upon our members and society at large to strictly follow the SOPs so that this experiment is successful and does not pose any additional health costs,” said Sood.

    13:57 (IST)15 Apr 2020
    Fertilizer stocks surge in trade as IMD predicts 100% rainfall

    Fertilizer stocks trade higher after India Meteorological Department (IMD) predicted normal monsoon in India this year. Zuari Global gained 19%, Fertilizers and Chemicals Travancore surged 16%, Rashtriya Chemicals and Fertilizers up 12%.

    13:46 (IST)15 Apr 2020
    Monsoon forecast: Good news for Indian economy; rain gods may smile, IMD predicts 100% rainfall

    Amid a severe instability in the economy, the monsoon forecast has brought a ray of hope. Monsoon in the current year is expected to be 100 per cent of long-term average with a deviation of 5 per cent, India Meteorological Department said in a press briefing today. The optimistic forecast on monsoon is expected to give support to agriculture and allied sectors at a time when the slowdown is visible in all the corners of the economy.

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    13:38 (IST)15 Apr 2020
    Cement company shares jump; Andhra Cement surges 20%

    Cement company shares Andhra Cement jumped 20 per cent, Shiva Cement up 10 per cent, ACC gains 8& and Shree Cement surges 5.5 per cent after government allows select construction activities.

    Check live prices: ACC | Shree Cement

    13:25 (IST)15 Apr 2020
    Infra, cement, Agro, Automobile stocks gain as govt announced opening up of various industries

    Opening up of various industries from 20th April bodes well at a current scenario to kickstart economic activities. Infrastructure, cement, Agro, Automobile stocks gained momentum today with this development. However, demand is going to be a concern given economic disruption led by Pandemic. Today’s rally would be short-lived if government does not come up with formidable plan to aid ailing industries in terms of fiscal relief packages. The market is hopeful about stimulus package from governments’ side in next few days, says Binod Modi, Senior Research Analyst at Reliance Securities.

    13:23 (IST)15 Apr 2020
    Top gainers and losers on Nifty 50

    A total of 41 scrips were trading in green while 7 were ruling in red on Nifty 50 index. UPL, IndusInd Bank, Britannia, LT and Shree Cement were the top gainers in the pack while M&M, Kotak Mahindra Bank, ZEEL and HDFC twins were the top losers.

    Check live Nifty 50, Sensex levels

    13:20 (IST)15 Apr 2020
    IndusInd Bank top Sensex gainer, up 6%

    As many as 23 stocks out of 30 Sensex stocks were trading in green today. IndusInd bank was the top gainer with a growth of 6 per cent, followed by Larsen & Toubro, UltraTech Cement and ITC. While Kotak Mahindra Bank was the top laggard on the Sensex with a decline of 3.5 per cent. M&M, HDFC Bank and Hero Moto Corp were among other losers on the pack

    Check live prices: IndusInd Bank

    12:57 (IST)15 Apr 2020
    Rakesh Jhunjhunwala cuts more than 1% stake in Titan during Q4

    Rakesh Jhunjhunwala has cut more than 1% stake in Titan from 6.69% to 5.53% in March quarter.

    12:34 (IST)15 Apr 2020
    PF Advance for COVID-19: Are you not able to make provident fund withdrawals?

    As the country is in a nationwide lockdown, which has been further extended to control the spread of COVID-19, many people are facing financial hardships. In order to provide money in the hands of employees, the government had allowed salaried individuals to withdraw a portion of their provident fund (PF) balance as PF advance.

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    12:19 (IST)15 Apr 2020
    Sensex, Nifty gain 2.5 per cent

    S&P BSE Sensex was trading at 31,462.47, up 772.45 points or 2.52 per cent, while the broader Nifty 50 index was ruling 240 points or 2.67 per cent higher at 9,234.

    Check live Sensex, Nifty level

    12:14 (IST)15 Apr 2020
    Gold prices surpass Rs 46,500 to hit record high, surge 22% in 17 days; analysts stay bullish on gold

    Gold prices in India on Wednesday hit a fresh record high of Rs 46,785 per 10 grams as the jump in coronavirus cases and lockdown extension till May 3 made investors anxious who rushed to safe-havens. Gold June futures were up 0.92 per cent or Rs 427 to Rs 46,713 per 10 grams. Silver May futures gained 1.59 per cent or Rs 694 to Rs 44,450 per kg on MCX. Gold prices hit almost a seven high in the session amid concerns over global economic growth and a wave of stimulus measures from central banks and governments, says Navneet Damani, VP, Motilal Oswal Financial Services.

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    11:46 (IST)15 Apr 2020
    These industries allowed to open; check full list of lockdown relaxations for services, factories

    In a major relief to the industries, manufacturers, and service providers, the Narendra Modi government has allowed various economic activities to operate from April 20. The production units which require continuous process and the manufacturing units of essential goods will be allowed to operate from April 20.

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    11:20 (IST)15 Apr 2020
    Softer inflation provides more room for policy easing: Anand Rathi

    In Mar'20, retail inflation at 5.9% was the lowest since Dec’19 and recorded the second successive fall. We expect 50 bps rate cut and major liquidity infusion in the near-term future. Inflation on softening trend. Reversal of sharp rise in vegetable inflation recorded during Aug-Dec’19 led to the second successive fall in retail inflation to 5.9% in Mar’20. In contrast, most non-food categories registered slight increase in retail inflation during the month.

    Core inflation stable: After reaching record low of 3.5% in Oct’19, core inflation rose to above 4%. In Mar’20 core inflation at 4.1% was unchanged at the last month’s level.

    Mixed inflationary outlook: The nation-wide lockdown and major disruption of supply chain has resulted in simultaneous glut/distress sale of perishable products in certain areas and panic buys/ shortages in other areas.

    11:10 (IST)15 Apr 2020
    RIL, ITC, HUL lift Sensex 700 points higher; check what’s moving Dalal Street today

    On the back of the government’s move to ease lockdown and positive global cues, domestic equity market benchmarks Sensex and Nifty rose on Wednesday. The government has also released the list of all permitted activities from April 20 today. S&P BSE Sensex was trading 800 points or 2.60 per cent higher at 31,488, while the broader Nifty 50 index was ruling at 9,244, up 250 points or 2.78 per cent.

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    10:54 (IST)15 Apr 2020
    Amazon, Flipkart, ecommerce services allowed as Modi extends lockdown; here’s what govt says

    As Prime Minister Narendra Modi extended the lockdown for 19 more days, the government has allowed the movement of vehicles belonging to ecommerce companies such as Amazon, Flipkart, Snapdeal among others from April 20 onwards. “Vehicles used by ecommerce operators will be allowed to ply with necessary permissions,” the Ministry of Home Affairs said in the latest directive shared by it regarding relaxations post the announcement of lockdown extension. However, the government has allowed the movement of vehicles belonging to ecommerce companies such as Amazon, Flipkart, Snapdeal among others from April 20 onwards.

    Read full story

    10:28 (IST)15 Apr 2020
    Govt announced the new guidelines of Coronavirus lockdown that will be applicable after April 20

    • Industries operating in rural areas
    • Manufacturing and other industrial establishments
    • Manufacturing and packaging of IT hardware and other essential goods
    • Construction of roads, building and other projects in rural areas

    10:23 (IST)15 Apr 2020
    Govt issues revised guidelines on what will remain shut till May 3

    With the extension of the lockdown period, the following activities will continue to remain prohibited across the country until May 3-

    All domestic and international air travel of passengersAll passenger movement by trains, except or security purposesBuses for public transportMetro rail servicesAll educational, training, coaching institutions etc, shall remain closed.

    10:08 (IST)15 Apr 2020
    Expenditure rejig: Q1 spending curbs to help govt save Rs 1.4 lakh crore

    The spending curbs imposed by the Centre on most government departments will likely reduce the budgetary expenditure in April-June by Rs 1.4 lakh crore or 4.6% of the annual budget for FY21. It may be noted that the COVID-19 economic package announced by the government on March 26 was of Rs 1.75 lakh crore, with the extra budgetary component of it being about Rs 75,000 crore only (SBI Ecowrap said that of the Rs 1.75 lakh crore package, only “Rs 73,000 crores is new and rest is from current budget”).

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    09:50 (IST)15 Apr 2020
    Wipro shares gain ahead of Q4 number

    Wipro shares trade 1.66 per cent higher at Rs 192.60 apiece on BSE ahead of March quarter results.

    09:44 (IST)15 Apr 2020
    MCX gold prices at lifetime high of Rs 46,676 per 10 grams

    Today Gold touched the lifetime high of Rs 46,676 on Mcx June contract and spot gold is trading around $ 1720 which is a 8-year high. Safe heaven demand and weakness in Dollar supports the gold prices. Although the lockdown situation also increased the demand for investment in safe heaven asset class product. Low-interest rate and global growth forecast cut down by IMF provide extra fuel to Gold prices. FOR trading perspective traders can buy gold at 46400, stop loss at 45800 with a target of Rs 47,500, says Anuj Gupta, Deputy vice president - Research, Angel Broking Ltd.

    09:39 (IST)15 Apr 2020
    Larsen & Toubro share price jumps 4%

    Larsen & Toubro share price jumped 4% to Rs 900.35 apiece on BSE in Wednesday's trade after the company secured two contracts to build Regional Rapid Transit System (RRTS) Infrastructure from National Capital Region Transport Corporation (NCRTC) in Uttar Pradesh.

    Check live prices: Larsen & Toubro

    09:34 (IST)15 Apr 2020
    Hindaco Industries share price gains nearly 7% post Aleris acquisition completion

    Hindalco Industries share price jumps 6.81 per cent to Rs 121.55 apiece on BSE after the Aditya Birla Group flagship company cemented its position as the world's largest producer of value-added aluminium products with the completion of the USD 2.8 billion acquisition of Aleris by its wholly-owned US subsidiary Novelis Inc.

    Check live prices: Hindalco Industries

    09:30 (IST)15 Apr 2020
    Nifty Bank index above 20,000-mark

    Barring Nifty Media index, all the sectoral indices were trading higher. Nifty Bank index jumped 2.18 per cent to touch 20,000-mark in today's trade led by gains in Bandhan Bank, RBL Bank and Axis Bank. Nifty Pharma index was too trading 3 per cent up driven by Glenmark, Auropharma and Dr. Reddy's Laboratories.

    09:30 (IST)15 Apr 2020
    Top gainers and losers on S&P BSE Sensex

    Out of 30 Sensex shares, 28 stocks were trading in green with Tech Mahindra as top gainer, up 3.65 per cent followed by ICICI Bank, IndusInd Bank and Axis Bank. Only two stocks, Maruti Suzuki and ONGC were trading in negative territory.

    09:29 (IST)15 Apr 2020
    Sensex, Nifty jump 2% in opening trade

    S&P BSE Sensex was trading 565 points or 1.84 per cent higher at 31,255, while the broader Nifty 50 index was ruling at 9,153, up 160 points or 1,78 per cent.

    Check live Sensex, Nifty levels

    09:08 (IST)15 Apr 2020
    Sensex, Nifty edge higher in pre-opening session

    S&P BSE Sensex rises 485 points or 1.58 per cent to 31,175, while the broader Nifty 50 index top 9,150 in the pre-opening session.

    Check live Sensex, Nifty levels

    09:01 (IST)15 Apr 2020
    FII and DII data

    Foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 1,244 crore while domestic institutional investors (DIIs) were net sellers to the tune of Rs 1,097 crore on Monday, data available with NSE suggested.

    08:48 (IST)15 Apr 2020
    Coronavirus crisis: More economic pain ahead

    We estimate that 65% of economic activity, more than 50% of consumption and arguably all of the investment will be impacted. We combine the share of each sector in gross value added (GVA) with the proportion likely to be locked down and calculate that every month of lockdown leads to a loss of 5.4% of GVA (see graphic). Six-weeks of national lockdown (as prescribed by PM Modi) followed by (say) about six-weeks of partial lockdown (in areas where proliferation takes longer to contain), could lead to ~12% of GVA loss. 

    read full story

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