Market LIVE: Sensex ends 1,860 pts higher, locks biggest one-day gain in 11 yrs; RIL, pvt bank stocks rally

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Updated:Mar 25, 2020 3:56:05 pm

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Sensex ended 1,861 points or 6.98 per cent higher at 28,535.78, while the broader Nifty 50 index settled at 8297, up 497 points or 6.37 per cent

Share Market Today, Share Market LiveIndusInd Bank was the top Sensex laggard, down 3.33 per cent followed by ONGC, HCL Tech and ITC

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks Sensex and Nifty ended nearly 7 per cent higher on Wednesday led by buying in index heavyweights such as RIL, HDFC twins, Kotak Mahindra Bank and Maruti. S&P BSE Sensex ended 1,861 points or 6.98 per cent higher at 28,535.78, while the broader Nifty 50 index settled at 8297, up 497 points or 6.37 per cent. As many as 25 stocks out of 30 Sensex stocks finished trade in green, with RIL as the top Sensex gainer, up 14 per cent to Rs 1,071, followed by HDFC Bank up 13 per cent and Kotak Mahindra Bank. Conversely, IndusInd Bank was the top Sensex laggard, down 3.33 per cent followed by ONGC, HCL Tech and ITC. All the sectoral indices settled higher today. Nifty Financial Services index jumped 9.69 per cent led by gains in ICICI Prudential Life Insurance Company, ICICI Lombard General Insurance Company and Shriram Transport Finance Company. Similarly, Nifty Bank index gained 1441 points or 8.43 per cent driven by HDFC Bank, Kotak Mahindra Bank and Axis Bank.

Announcing the raft of decisions, which contain relief to both companies and individuals, finance minister Nirmala Sitharaman also pledged a broader economic relief package soon. “No move to impose financial emergency, as was claimed by some reports,” the minister said, asserting the government’s ability as well as willingness to deal the situation appropriately.

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Highlights

    15:34 (IST)25 Mar 2020
    Sensex, Nifty end 7% higher on Wednesday

    S&P BSE Sensex ends 1861 points or 7 per cent higher at 28,535.78, while the broader Nifty 50 index settled at 8297, up 497 points or 6.37 per cent

    15:27 (IST)25 Mar 2020
    IRCTC share price hits lower circuit on trains cancellation amid COVID-19, down 60% from record high

    IRCTC share price hit a lower circuit of 5 per cent to trade at Rs 815.60 apiece on BSE in Wednesday’s trade as in the wake of coronavirus, Indian Railways announced the cancellation of passenger train services till March 31, 2020.

    Read full story

    15:10 (IST)25 Mar 2020
    GoAir says can’t pay employees in full as coronavirus clips aviation sector’s wings

    GoAir has announced pay cuts for its employees as the aviation sector takes a major hit of the coronavirus outbreak. Wadia group-owned budget carrier GoAir today said that all its employees will have to bear a salary cut in March as the government cancels all domestic and international passenger flights.

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    14:46 (IST)25 Mar 2020
    Fate of businesses, industries uncertain as economic relief package awaited, people locked in houses

    While Prime Minister Narendra Modi has announced a countrywide lockdown to arrest rising cases of Covid-19, the fate of businesses and industries are still uncertain. With zero footfall and no demand in the market, the wait of businesses and industries for economic relief is yet not over. “Unlike other countries, the Indian govt has so far been largely silent on the economic impact from the lockdown, leaving alone any measures to cushion the hit,” said a report by Emkay.

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    14:31 (IST)25 Mar 2020
    Insolvency and Bankruptcy in the times of coronavirus; welcome relief from FM Sitharaman

    The Government of India has announced several measures to alleviate the hardships caused or likely to be caused to Indian companies due to COVID 19. Amongst these, is the decision to increase the minimum amount of the default required to initiate the insolvency resolution and liquidation processes against companies from one lakh rupees to one crore rupees.

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    14:29 (IST)25 Mar 2020
    Insolvency and Bankruptcy in the times of coronavirus; welcome relief from FM Sitharaman

    The Government of India has announced several measures to alleviate the hardships caused or likely to be caused to Indian companies due to COVID 19. Amongst these, is the decision to increase the minimum amount of the default required to initiate the insolvency resolution and liquidation processes against companies from one lakh rupees to one crore rupees.

    Read full story

    14:29 (IST)25 Mar 2020
    Insolvency and Bankruptcy in the times of coronavirus; welcome relief from FM Sitharaman

    The Government of India has announced several measures to alleviate the hardships caused or likely to be caused to Indian companies due to COVID 19. Amongst these, is the decision to increase the minimum amount of the default required to initiate the insolvency resolution and liquidation processes against companies from one lakh rupees to one crore rupees.

    Read full story

    14:07 (IST)25 Mar 2020
    Aviation, travel,tourism sectors have got impacted due to COVID-19: Amitabh Kant

    NITI Aayog CEO Amitabh Kant in an interaction with CNBC TV 18 said that sectors that have got impacted due to COVID-19 are aviation, travel and tourism. These sectors have a multiplier effect with respect to jobs. We expect package for job creating sectors like aviation, travel, tourism soon. Aviation AND tourism have exposure of Rs 85,000 crORE to financial institutions.

    14:05 (IST)25 Mar 2020
    Risking lives, harassed by law enforcement; stock brokers struggle to reach offices amid lockdown

    Stock brokers and other personnel related to capital markets continued to face difficulties in commuting to their workplaces on Wednesday amid a 21-day nationwide lockdown to contain the spread of coronavirus outbreak.

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    14:03 (IST)25 Mar 2020
    Working in conjunction with state govts, will ensure that supply chains remain intact: NITI Aayog CEO Amitabh Kant

    NITI Aayog CEO Amitabh Kant in an interaction with CNBC TV18 said that comprehensive package will be announced. This is not a time to look at fiscal deficit limitations. Global supply chains have seen disruptions due to COVID-19. Our strategy is to manufacture API not only for domestic but for global markets. He further added saying that, “We are working in conjunction with state governments, will ensure that supply chains remain intact.”

    13:55 (IST)25 Mar 2020
    Amitabh Kant ensures Grofers, BigBasket zero inconvenience by government authorities

    NITI Aayog CEO Amitabh Kant is trying to ensure that e-commerce deliveries of essential products do not get impacted due to any action from the local authorities even as the government has exempted online deliveries of such goods including food, pharmaceuticals, and medical equipment amid lockdown. However, despite the exemption, Grofers and BigBasket had to shut down their services due to the restrictions imposed by the government authorities.

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    13:43 (IST)25 Mar 2020
    RIL becomes number one again: Overtakes TCS to become largest in m-cap; share price jumps 10%

    Reliance Industries Limited (RIL) on Wednesday surpassed TCS to become the most valued domestic firm by market capitalisation during morning trade following a spike in its share price. The company’s scrip zoomed 9.74 per cent to Rs 1,035 on the BSE. On the NSE, it climbed 9.61 per cent to Rs 1,034.10.

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    13:38 (IST)25 Mar 2020
    Sensex, Nifty may become less volatile amid 21-day national lockdown; top stocks to watch

    As India entered into a 21-day lockdown starting March 24 midnight to curb the fast-spreading coronavirus, the share market saw high volatility on Wednesday. The 30-share index Sensex opened at 26,499, hitting the day’s high of 27,299 and then falling to 26,359. The broader Nifty 50 index opened at 7,735, and then jumped to intraday high level of 7,980 only to hit day’s lows of 7,714.

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    13:25 (IST)25 Mar 2020
    Is equity market crisis an opportunity? Beware, don't get hopes too high, warns billionaire hedge fund manager

    “It is not necessary that if there is a problem there is a solution to it straight away. I don’t think we should look at it that every crisis is an opportunity from day 1 or week 1 of crisis,” Samir Arora said in an interview with ET Now. 

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    13:05 (IST)25 Mar 2020
    Sensex gains 1,000 points, Nifty trades above 8,100

    S&P BSE Sensex was trading at 27,865, up 1,191 points or 4.47 per cent, while the broader Nifty 50 index was ruling 334 points or 4.28 per cent higher at 8135.

    Check live Sensex, Nifty levels

    12:59 (IST)25 Mar 2020
    Coronavirus Lockdown: Is India prepared to meet its food supply needs for next 21 days?

    All eyes are on India’s preparation for next 21 days lockdown! How much food supply do we have? Coming days till April 14 will be crucial in terms of food supply as India goes under nationwide lockdown for the next 21 days as announced by the Prime Minister Narendra Modi.

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    12:41 (IST)25 Mar 2020
    I do not subscribe to the theory that the current market situation is a gift: Samir Arora

    Claiming that he is not subscribing to the theory that the current market situation is a gift and investors need to make the most of it, Samir Arora, Founder, Helios Capital in an interview with ET Now, said that the situation is a negative and investors will have to cope with it.

    12:21 (IST)25 Mar 2020
    Axis Bank stages sharp recovery

    Private lender Axis Bank has staged a sharp recovery jumping 6.19% to trade at Rs 322 per share, after hitting its 52-week low of Rs 286 apeice earlier today. Axis Bank is down 50% in the last 30-days.

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    11:59 (IST)25 Mar 2020
    Facebook eyes stake in Mukesh Ambani’s Reliance Jio; deal hits snag due to coronavirus

    Social media company Facebook was reportedly in talks with Mukesh Ambani’s Reliance Jio to buy equity stake worth a billion dollars in India’s homegrown telecom network. However, the deal has hit snag as the world reels under the coronavirus outbreak, the Financial Times reported citing two unidentified people with the knowledge.

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    11:38 (IST)25 Mar 2020
    Sensex, Nifty rise in trade

    Headline indices edged higher in trade. S&P BSE Sensex was trading at 26,988, up 314 points or 1.18 per cent, while Nifty 50 index was gtrading 93 points or 1.19 per cent higher at 7893.

    Check live Sensex, Nifty levels

    11:28 (IST)25 Mar 2020
    Blue chip companies trading at attractive prices, should you buy? Here’s what Nilesh Shah thinks

    As bears continue to beat down stocks, several blue chip stocks are trading close to their 52-week lows. The current attractive valuation might be a once in a lifetime opportunity to invest in these stocks for long-term investors.

    11:10 (IST)25 Mar 2020
    Bandhan Bank hits 52-week low

    Private sector lender Bandhan Bank has hit a new 52-week low of Rs 154 per share. The stock is down more than 3% adding to the troubles of all the banks on the bourses.

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    11:07 (IST)25 Mar 2020
    Sensex, Nifty trade volatile amid 21-day lockdown in India; check what’s keeping investors on edge

    Extending gains from the previous session, domestic equity market benchmarks Sensex and Nifty opened higher in Wednesday’s trade. However, the headlines indices are trading volatile after a gap-up opening as government has announced a 21-day countrywide lockdown to contain the fast spread coronavirus (COVID-19). The 30-share index Sensex was trading 112 points or 0.42 per cent higher at 26,786, while the broader Nifty 50 index was ruling at 7849, up 48 points or 0.62 per cent.

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    10:45 (IST)25 Mar 2020
    Symphony Ltd: Lockdown to hurt performance (ICICI Securities)

    Symphony has maintained balance sheet prudence with stringent control on the working capital cycle. With substantial free cash on the book, we believe the company will navigate through a tough macro environment. We lower revenue and earnings growth to factor in the negative outcome owing to Covid-19. We change our rating on the stock from HOLD to BUY with a revised target price of | 840 (21x FY22E EPS).

    10:30 (IST)25 Mar 2020
    Once in a lifetime opportunity for long-term investors: Nilesh Shah

    Managing Director of Kotak Mahindra Asset Management company, Nilesh Shah in an interview with CNBC TV18 said that the current beaten down prices on the bourses is a once in a lifetime opportunity for investors. He added that it is time to maintain discipline and cut leverage.

    10:27 (IST)25 Mar 2020
    When experts call for market shutdown, ban short sales: Shankar Sharma, Vice Chairman & Jt. MD, First Global

    When "experts" call for "market shutdown" "ban short sales",I say: you hav a problem in such markets because you are a flat pitch bat. Ball bounces, you cry"stop the game".It's your lack of technique that's the problem." Yeh stock mkt bacchon ke khelne ki cheez nahi": Raaj Kumar, tweets Shankar Sharma, Vice Chairman & Jt. MD, First Global.

    10:24 (IST)25 Mar 2020
    These are the times to be a regular, long term investor: Nilesh Shah, Kotak Mahindra AMC told CNBC TV 18

    "These are the times to be a regular, long term investor. This might be once in a lifetime opportunity for a long-term investor. Big banks will become bigger given flight to safety. Positive on comsumption as it is an all weather sector," Nilesh Shah, Kotak Mahindra AMC told CNBC TV 18.

    10:15 (IST)25 Mar 2020
    Hindustan Unilever: Exciting acquisition amid growing health awareness (ICICI Securities)

    The acquisition of Vwash would not make any material difference to growth. However, it has strong potential to grow into a bigger brand in the next five to 10 years. With respect to the recent outbreak of Covid-19, the personal wash category is likely to see strong growth in the next few quarters. Though the personal wash category is fully penetrated, it is expected to witness unprecedented increase in per capita consumption after increasing awareness on personal hygiene. We change our recommendation from HOLD to BUY with a target price of | 2310/share.

    10:14 (IST)25 Mar 2020
    Companies like FMCG, Pharma & IT would not be impacted: AK Prabhakar, Head of Research, IDBI Capital

    Companies like FMCG, Pharma & IT would not be impacted so buy these stocks. Market has already corrected more than needed so some pause would be here i feel. Buy RIL, Dabur India, HUL, Infosys, TCS, Tata Elxsi, MindTree, NIIT Tech, Dr Reddy's, IPCA Lab, says AK Prabhakar, Head of Research, IDBI Capital.

    10:11 (IST)25 Mar 2020
    Where do we see markets from here as there is countrywide lockdown for 21-days

    We have some clarity coming in the current crisis and how long drawn this could be based on yesterday's PM Modi's address. Hence, we could see some pause in relentless selling but we are still to see fresh buying. So, in near term we could see declining volatility and market's move should also be getting narrower than witnessed earlier. Recovery though is sometime away as what we are currently seeing is that many companies are announcing plant shutdowns. So, manufacturing activity is gradually getting down, says Narendra Solanki, Head Fundamental Research-Investment, Anand Rathi Shares and Stock Brokers.

    10:08 (IST)25 Mar 2020
    IndusInd Bank share price extends fall, down 9.24%

    IndusInd Bank share price fell more than 9 per cent to Rs 284 apiece on BSE in Wednesday's trade. It hit intraday high of Rs 310 and low of Rs 281 apiece on BSE.

    Check live prices: IndusInd Bank

    09:57 (IST)25 Mar 2020
    Revenue Dept asks Home Min to include customs under exempt category

    Govt sources say Revenue Dept asks Home Min to include customs under exempt category, says continued operations of Customs a must in preventing export & import disruption, in maintaining continued supply of essential services, CNBC TV 18 reported.

    09:52 (IST)25 Mar 2020
    IndusInd Bank continues downward fall

    IndusInd Bank share price fell another 7% to reach a price of Rs 290 per share. The stock hit a 52-week low yesterday.

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    09:48 (IST)25 Mar 2020
    Sensex, Nifty turn negative

    Indian stock market pared opening gains. S&P BSE Sensex was trading at 26,565.26, down 108.77 points or 0.41 per cent while Nifty50 index was trading at 7,758.15  down 42.90 points or 0.55%.

    Check live Sensex, Nifty levels 

    09:43 (IST)25 Mar 2020
    RIL , Nestle India amongst top Sensex gainers

    RIL and Nestle India were the top Sensex gainers today, up 6.55 per cent and 3.92 per cent, respectively. A total of 13 stocks out of 30 Sensex stocks were trading higher.

    Check live prices: RIL | Nestle India

    09:43 (IST)25 Mar 2020
    Housing Development Finance Corporation Limited touches 52-week low

    HDFC reached a new 52-week low of Rs 1,473 per share on the National Stock Exchange. The scrip, however, recovered 1.78% to trade at Rs 1,531 apiece.

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    09:39 (IST)25 Mar 2020
    Nifty Pharma index gains in trade

    Nifty Pharma index gains in trade, up nearly a per cent led by Pirimal Enterprises, Biocon and Cipla. Similarly, Nifty Metal index was up half a per cent with gains in Hindalco, Tata Steel and Vedanta Limited.

    09:31 (IST)25 Mar 2020
    Sectoral indices trade mix

    Sectoral indices were trading mixed in today's session. Nifty Media and Nifty PSU Bank indices were down, over 2 per cent each. While Nifty IT, FMCG and Financial Services indices gained over half a per cent.

    09:27 (IST)25 Mar 2020
    RIL share price jumps 8%

    RIL share price jumped 8 per cent to Rs 1018.85 apiece on BSE in Wednesday's trade. It hit an intraday high of Rs 1035, while low of Rs 951.

    Check live prices: RIL

    09:25 (IST)25 Mar 2020
    Top gainers and losers on S&P BSE Sensex

    As many as 17 stocks out of 30 Sensex stocks were trading in green with RIL as the top gainer, up 8 per cent to Rs 1019.40, followed by Bajaj Finance, Tech Mahindra and HDFC. On the flip side IndusInd Bank was the top Sensex loser, down 4 per cent. LT, UltraTech Cement and Titan were among other laggards on the index.

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