Share Market LIVE: After much up and down, Sensex gives up gains to end in red; RBI cuts repo rate to 4.4%

By: |
Updated: March 27, 2020 3:53:06 pm

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Most of the sectoral indices settled in a positive territory. Nifty Bank index gained 1.81 per cent led by Bandhan Bank, Federal Bank and Axis Bank.

Share Market Today, Share Market LiveAs many as 16 stocks out of 30 Sensex stocks were finished their trade in red today with Hero MotoCorp down 8 per cent, followed by Bajaj Finance, Bharti Airtel

Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks Sensex and Nifty ended flat to negative in Friday’s volatile session. In the opening deals, the 30-share index index soared over 1,100 points to reclaim 31,000-level and the broader Nifty 50 index went past the crucial 9,000-mark. However, post RBI’s emergency repo rate cut announcement indices remained highly volatile. S&P BSE Sensex ended 131 points or 0.44 per cent down at 29,815, while the broader Nifty 50 index settled at 8,660, up 18 points or 0.22 per cent. As many as 16 stocks out of 30 Sensex stocks were finished their trade in red today with Hero MotoCorp down 8 per cent, followed by Bajaj Finance, Bharti Airtel and IndusInd Bank. On the flip side, Axis Bank was the top Sensex gainer, up over 5.5 per cent. ITC, NTPC, M&M and TCS were among the top gainers on Sensex. Most of the sectoral indices settled in a positive territory. Nifty Bank index gained 1.81 per cent led by Bandhan Bank, Federal Bank and Axis Bank. While Nifty Auto index settled 2.42 per cent lower dragged by losses in Hero MotoCorp, Bharat Forge and TVS Motor.

The MPC decided to advance its meeting due on April 3 was decided for March 24, 25, 27 undertook careful evaluation, says RBI governor Shaktikanta Das. RBI Governor says outlook is now heavily contingent upon intensity, spread and duration of pandemic. RBI has cut repo rate by 75 bps to 4.4%. Reverse repo rate reduced by 90 bps to 4%. The RBI governor’s address comes a day after the Union Finance Minister Nirmala Sitharaman announced a Rs 1.7 lakh crore economic relief package to aid the economy amid 21-day nationwide lockdown due to fast-spreading coronavirus.

Read More

Live Blog

Highlights

    15:25 (IST)27 Mar 2020
    RBI measures will boost economic activities, says Prakash Javadekar

    Union minister Prakash Javadekar on Friday said the RBI’s measures to help businesses tide over the economic crisis in the wake of the coronavirus outbreak would boost economic activities. The Reserve Bank of India has asked all lending institutions to allow a three-month moratorium on EMI payments in order to infuse liquidity into the system. It has also allowed banks to defer interest on working capital loans for the next three months.

    Read full story

    15:12 (IST)27 Mar 2020
    Rapid recovery later this year? Expert suggests picking up large-cap stocks at beaten down prices

    As per latest Bloomberg Economics the world economy will see its worst recession since the financial crisis in the first half of this calendar year with a recovery in subsequent months likely but not assured. For now Bloomberg Economics is predicting 0.2% GDP decline for CY20 as compared to more than 3.5% growth estimated before the Covid-19 outbreak.

    Read full story

    14:53 (IST)27 Mar 2020
    Rapid recovery later this year? Expert suggests picking up large-cap stocks at beaten down prices

    Due to the lockdowns, India will also witness a sharp contraction in GDP forecasts. FIIs have been aggressive sellers of Indian equities and with lack of buying support stocks are falling disproportionately.

    Read full story

    14:47 (IST)27 Mar 2020
    Cognizant to give two-third of India employees 25% extra payment over base salary for working in COVID-19 outbreak

    IT firm Cognizant on Friday said it will give employees who are at associate level and below in India and the Philippines, an additional payment of 25 per cent of base pay for April, in recognition of their extraordinary continuity-of-service efforts amid the COVID-19 outbreak. The move is expected to benefit over 1,30,000 Cognizant employees in India.

    Read full story

    14:19 (IST)27 Mar 2020
    S&P BSE Sensex gains 250 points

    S&P BSE Sensex zoomed 250 points, after sliding down earlier in the day. Among the top gainers are Axis Bank which has jumped 11.4% and SBI up by 4.3%.

    14:09 (IST)27 Mar 2020
    ITC sets up Rs 150 crore coronavirus fund for ‘frontline warriors’; joins peers RB, Godrej, HUL

    FMCG major ITC has pledged Rs 150 crore to enable “frontline warriors” in the fight against coronavirus. “ITC is setting up a Contingency Fund of Rs 150 crore to address and manage the challenges arising out of this adversity. This fund will be utilised primarily to provide relief to the vulnerable and most needy sections of society who have been harshly impacted by the pandemic and have faced significant disruption in their livelihoods,” the maker of Savlon handwash said in a statement on Friday.

    Read full story

    13:50 (IST)27 Mar 2020
    Tempted by the surge in share markets? The surge might be temporary, warn analysts

    After having hit a low of 26,000 points on Monday, S&P BSE Sensex has jumped more than 3,600 points in the last four trading sessions. On the other hand the broader NSE Nifty-50 sank below the 7,600 level on Monday, but since then has gained over 1,000 points to above 8,600 now. With the recent surge there is only one question that comes to an investors mind — has the market bottomed out? Well, the answer, according to experts, is: Not Yet.

    Read full story

    13:48 (IST)27 Mar 2020
    Tempted by the surge in share markets? The surge might be temporary, warn analysts

    With the recent surge there is only one question that comes to an investors mind -- has the market bottomed out? Well, the answer, according to experts, is: Not Yet.

    Read full story

    13:39 (IST)27 Mar 2020
    Will FM’s coronavirus relief package reach all? Why Rs 1.7 lakh crore might not mean much

    While Finance Minister Nirmala Sitharaman announced a Rs 1.7 lakh crore economic package for the most marginalised section of the society such as farmers, women, construction workers, senior citizens, widows and the disabled, many other sections of the society such as dhobis, rickshaw pullers, barbers etc remain untouched.

    Read full story

    13:20 (IST)27 Mar 2020
    We remain positive on ICICI Bank, HDFC Bank, Muthoot Finance: Ashika Institutional Equity Research Desk

    In our view RBI has fired maximum of its bullets but failed to address the key concern of solvency risk associated with the impacted borrowers. Now the ball is gain in GOI court to provide fiscal packages to those businesses which are going to be impacted due to outbreak of COVID-19. Thus, we remain positive on only few selected financial (ICICI Bank, HDFC Bank and Muthoot Finance) and continue to watch the space before making any further move, says Ashika Institutional Equity Research Desk (Head of Research - Asutosh Mishra).

    13:17 (IST)27 Mar 2020
    What made Sensex drop 1,700 pts from day’s high after much anticipated RBI repo rate cut

    Share market benchmarks Sensex and Nifty gained more than 3 per cent in the opening session on Friday on hopes of much-awaited measures by the Reserve Bank of India. The 30-share index soared over 1,100 points to reclaim 31,000-level and the broader Nifty 50 index went past the crucial 9,000-mark. However, stock markets failed to hold the gains after the RBI announced an emergency repo rate cut. While experts hailed the decisions taken by RBI amid the nationwide lockdown in a bid to contain the economic fallout of fast-spreading coronavirus (COVID-19), what made headline indices fall 1,700 points from day’s high?

    Read full story

    12:56 (IST)27 Mar 2020
    Liquidity measures by RBI will provide relief to financial system: Vaqarjaved Khan, Currencies at Angel Broking Ltd

    Rupee appreciated by nearly 1% to 74.4 against the US dollar amid the emergency rate cut of 75 bps provided by RBI in light of the coronavirus pandemic. RBI also reduced the reverse repo rate by 90 bps providing additional relief to the banking system. In order to infuse additional liquidity into the system RBI also slashed CRR by 100 bps to 3% which will remain applicable for one year. Also, RBI raised MSF from 2% of SLR to 3% this will remain applicable till 30th June 2020. These liquidity measures combined will infuse liquidity worth Rs. 3.74 lakh crore in to the system. The liquidity measures provided by RBI will provide some relief to the financial system but if the spread of the virus deepens then rupee is likely to depreciate towards 76 mark, says Vaqarjaved Khan, Research Associate, Currencies at Angel Broking Ltd.

    12:36 (IST)27 Mar 2020
    RBI refrains from giving growth, inflation outlooks; says current GDP projections at risk

    The Reserve Bank of India (RBI) on Friday refrained from making any projections for growth and inflation saying the performance of these two key macroeconomic parameters in the days ahead would depend upon the intensity, spread and duration of COVID-19. Announcing the decisions of the Monetary Policy Committee (MPC), RBI Governor Shaktikanta Das said that no projection for growth and inflation was being given in view of the uncertainty created by outbreak of the deadly novel coronavirus (COVID-19).

    Read full story

    12:16 (IST)27 Mar 2020
    We continue to see rates dropping to 3.50% by Aug 2020: Rahul Bajoria, Chief India Economist, Barclays

    “The RBI has surpassed expectations by delivering more than what the market anticipated, and its promise to 'do whatever it takes' has come good. The steps to ease working capital pain, reduce liquidity costs and provide moratorium on term loans will alleviate stress across various sectors. We continue to see rates dropping to 3.50% by August 2020," says Rahul Bajoria, Chief India Economist, Barclays

    11:51 (IST)27 Mar 2020
    Relief given on repayments in term loans is very timely action: Joseph Thomas, Emkay Wealth Management

    The RBI announcement is inclusive of all the possible actions from a monetary policy perspective, like the rate action to bring down policy rates directly, liquidity action to support effective transmission of lower rates to ultimate users of credit, and a number of regulatory and developmental measures. The measures have addressed all the fundamental issues in a comprehensive manner using both conventional measures like cut in the repo rate to the tune of 75 bps and the CRR cut of 100 bps. This is a direct and targeted approach to the fluid situation in the face of an uncertain inflation and growth trajectory. This scaffolds the positive impact of the fiscal measures and strengthens our response to the adverse economic impact of the pandemic, says Joseph Thomas, Head of Research - Emkay Wealth Management.

    11:47 (IST)27 Mar 2020
    Markets back in red as buying has emerged at bottom: Vishal Wagh, Head of Research, Bonanza Portfolio ltd

    “It was expected that RBI and Finance department will soon take action. So, in anticipation of such act, buying has emerged at bottom and now it is profit booking,” Vishal Wagh, Head of Research, Bonanza Portfolio said.

    11:31 (IST)27 Mar 2020
    COVID-19: G20 countries pledge $ 5 trillion funds in the world economy

    To deal with the social, economic as well the financial impacts of the COVID-19, the G20 countries have all decided to put in together $ 5 trillion funds in the world economy. “India was represented by Prime Minister Narendra Modi in the first video conference of the G20 countries which had joined the conference for the first time ever to discuss humanitarian crisis”, a source Financial Express Online.

    Read full story

    11:05 (IST)27 Mar 2020
    RBI has done a great job: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

    A massive bazooka from the RBI in "mission mode". It's a relief cum stimulus package with a big repo cut and even bigger reverse repo cut. This together with CRR cut will be a big stimulus for banks to lend. Total liquidity injection along with measures announced earlier would amount to Rs 370000 crores, which is 3.2 % of GDP. The 3 month moratorium on term loans is a great relief to borrowers. The combination of measures to boost liquidity, improve monetary transmission and relax repayment pressures will act with force multiplier in the economy. RBI has done a great job, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    10:59 (IST)27 Mar 2020
    RBI’s whatever it takes moment: Sujan Hajra, Chief Economist and Executive Director, Anand Rathi Shares & Stock Brokers

    This is RBI’s whatever it takes moment. Key implications are-1. There would be no freeze in credit/debt market2. Banks get some (e.g. CRR cut, more funding at low cost, no provisioning for 90 days) and lose some (e.g. lower lending rate, pressure to lend, future asset quality deterioration)3. Most positive for leveraged sectors and companies4. This would not necessarily promote growth but avert a collapse, so a big positive5. To boost sentiments

    10:47 (IST)27 Mar 2020
    Sensex, Nifty pare gains post RBI repo rate cut announcement

    Domestic equity market benchmarks Sensex and Nifty pared morning gains after RBI announced to cut repo rate by 75 bps. S&P BSE Sensex was trading 105 points or 0.35 per cent to 30,052, while the Nifty 50 index was ruling at 8,770, up 129 points or 1.49 per cent.

    Check live Sensex, Nifty levels

    10:41 (IST)27 Mar 2020
    Nifty Bank index rises 6% as RBI Guv says Indian banking system is safe and sound

    Nifty Bank index gained 6 per cent or 1,170 points to trade at 20,783, after the RBI Governor Shaktikanta Das said that Indian Banking system is safe and sound. Bandhan bank, Axis Bank, IDFC First Bank and IndusInd Bank were top gainers on the index

    10:38 (IST)27 Mar 2020
    Indian Banking system is safe and sound: RBI Governor Shaktikanta Das

    Indian Banking system is safe and sound. Depositors of commercial banks including pvt banks need not worry on the safety of their funds. Do not resort to panic withdrawal of deposits from pvt banks, your money is safe, says RBI Governor Shaktikanta Das

    10:31 (IST)27 Mar 2020
    Banking stocks gain in trade

    Banking stocks such as Axis Bank, IndusInd Bank, State Bank of India (SBI), HDFC Bank, ICICI Bank were the top gainers on the 30-share index Sensex after RBI governor Shaktikanta Das announced a rate cut of 75bps.

    10:25 (IST)27 Mar 2020
    Top losers on S&P BSE Sensex as RBI reduces repo rate

    Bharti Airtel was the top Sensex loser, down 4.82 per cent, followed by Hero MotoCorp, HCL Tech, Bajaj-Auto and TCS among others. While Axis Bank was the top Sensex gainer with a growth of 12 per cent.

    10:21 (IST)27 Mar 2020
    Sensex, Nifty pare gains as RBI cuts repo rate to 4.4%

    S&P BSE Sensex pared the opening gains and was just up 300 points or 1.23 per cent to 30,314.03, while the broader Nifty 50 index was ruling below 8,850 level.

    Check live Sensex, Nifty level

    10:17 (IST)27 Mar 2020
    RBI cuts repo rate to 4.4%, reverse repo rate to 4%

    RBI Governor says outlook is now heavily contingent upon intensity, spread and duration of pandemic. RBI has cut repo rate by 75 bps to 4.4%. Reverse repo rate reduced by 90 bps to 4%

    10:13 (IST)27 Mar 2020
    RBI cuts repo rate by 75 bps

    The MPC decided to advance its meeting due on April 3 was decided for March 24, 25, 27 undertook careful evaluation. RBI has cut the repo rate by 75 bps.

    10:02 (IST)27 Mar 2020
    Sensex up 864 points, Nifty above 8950 ahead of RBI press meet

    S&P BSE Sensex was trading 864 points or 2.87 per cent to trade at 30,805 while the broader Nifty 50 index was ruling at 8966, up 325 points or 3.76 per cent.

    Check live Sensex, Nifty levels

    09:50 (IST)27 Mar 2020
    Moody's slashes India GDP growth in 2020 to 2.5%

    Moody's Investors Service on Friday slashed its estimate of India's GDP growth during 2020 calendar year to 2.5 per cent from an earlier estimate of 5.3 per cent, on account of the rising economic cost of the coronavirus pandemic. This compares to 5 per cent growth in 2019, PTI reported.

    09:48 (IST)27 Mar 2020
    Nifty Bank index gained 8 per cent

    All sectoral indices were trading in a positive territory. Nifty Bank index was trading 7.88 per cent or 1,544 points higher led by gains in IndusInd Bank, Bandhan Banka nd Axis Bank

    09:44 (IST)27 Mar 2020
    Yes Bank jumps 15% on capital infusion plan

    Yes Bank share price jumped 15 per cent to Rs 30.60 a piece on BSE in Friday's trade after the bank board approved fundraising of Rs 15,000 crore through the issuance of securities. The bank has specified it will raise an additional Rs 5,000 crore over and above the approval of shareholders and the board to raise Rs 10,000 crore on January 10 and February 7.

    Check live prices: Yes Bank

    09:41 (IST)27 Mar 2020
    Piramal Enterprises share price surges 15%

    Piramal Enterprises share price surged 15 per cent to Rs 942 apiece on BSE in Friday's trade after the rating agency CARE affirmed its AA/Stable credit rating for additional NCD of up to Rs 1,000 crore.

    Check live prices: Piramal Enterprises

    09:34 (IST)27 Mar 2020
    Sensex reclaims 31,000 level, Nifty above 9,000-mark

    S&P BSE Sensex jumped over 1,100 points or 3.25 per cent to reclaim 31,000-mark while the broader Nifty 50 index soared to trade above 9,000 level in the morning session.

    Check live Sensex, Nifty level

    09:30 (IST)27 Mar 2020
    IndusInd Bank share price gains 15% in opening deals

    IndusInd Bank share price, extending the previous session's rally, gained 15 per cent to Rs 502.45 apiece on BSE in Friday's session. 

    Check live prices: IndusInd Bank

    09:27 (IST)27 Mar 2020
    Top gainers and losers on S&P BSE Sensex

    As many as 25 stocks out of 30 Sensex stocks were trading in green today with IndusInd Bank as the top gainer on the index for the second consecutive session, up 15 per cent to trade at Rs 502.45, followed by Axis Bank, Bajaj Finance and ICICI Bank. On the flip side, Bharti Airtel was the top laggard, down over 3.5 per cent at Rs 461. Hero MotoCorp, Bajaj-Auto and HCL Tech were the top losers on the index.

    09:20 (IST)27 Mar 2020
    Sensex jumps 1,110 points, Nifty above 8,950

    S&P BSE Sensex jumped over 1,100 points or 3.25 per cent to 31,105.11, while the broader Nifty 50 index soared to trade above 8,950 in the opening session.

    Check live Sensex, Nifty levels

    09:07 (IST)27 Mar 2020
    Rupee opens higher against US dollar on Friday

    The Indian rupee opened higher at 74.69 a dollar as against Thursday's close of 75.15 a dollar

    09:00 (IST)27 Mar 2020
    Coronavirus crisis: $2 trillion rescue package passes US Senate, heads to House

    The US Senate passed the nation’s largest-ever rescue package late Wednesday, a USD 2 trillion lifeline to suffering Americans, depleted hospitals and an economy all ravaged by a rapidly spreading coronavirus crisis.

    Read full story

    08:43 (IST)27 Mar 2020
    Sensex, Nifty settled higher on Thursday

    S&P BSE Sensex ended 1,411 points or 4.94 per cent higher at 29,946, while the broader Nifty 50 index settled at 8,653, up 336 points or 3.89 per cent.

    08:37 (IST)27 Mar 2020
    Coronavirus lockdown set to hit NBFCs hard: Icra

    The 21-day lockdown across the country is set to hit non-banking financial companies (NBFCs) hard as small business owners and low-income households find it hard to service their loans. NBFC loans in the affordable housing, small and medium enterprises (SMEs), loan against property (LAP), real estate and microfinance (MFI) segments are likely to be affected the most, rating agency Icra said on Thursday.

    Read full story

    Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
    Next Stories
    1Jack Ma’s IPO becomes bigger than India’s GDP; 5 key things to know about Ant Group public issue
    2Maintain ‘buy’ on Marico with target price at Rs 440
    3Analyst Corner: Maintain ‘sell’ on Maruti Suzuki; revise FV to Rs 5,200