Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks Sensex and Nifty ended the day higher on Tuesday supported by gains in Asian markets and an overnight rally on Wall Street. S&P BSE Sensex at the end of trading was 479 points or 1.26 per cent to trade at 38,623.70, while the broader Nifty 50 index surged to 11,303, gaining 170points or 1.53 per cent. Among Sensex stocks, Sun Pharma was the top Sensex gainer with a growth of 6.64 per cent, followed by Tata Steel and ONGC. RIL, ICICI Bank, Kotak Bank and TCS were among the major contributors to the index today. All the Nifty sectoral indices ended the day in green with Nifty Metal gaining the most, followed by Nifty Pharma and Nifty Media, up over 3.32 per cent each.
Investors continued to show their interest in the SBI Cards IPO as the issue was subscribed 76 per cent on Tuesday afternoon after registering a positive response from retail investors, SBI shareholders and SBI employees. The issue was subscribed to 39 per cent on Monday. SBI Cards IPO opened for subscription on March 2 and will remain open till March 5. Retail investors category was bid over 100 per cent along with SBI employees and shareholder category.
Iconic American businessman Jack Welch, who is credited for transforming General Electric (GE) into one of the world’s industrial flagships, died on Monday, GE said. In his two decades of service as chief executive, Jack Welch took GE to great heights. He is considered in the ranks of the world’s most influential men in the global business community. US President Donald Trump expressed grief on Twitter and said that Jack Welch was a friend. “There was no corporate leader like “neutron” Jack. He was my friend and supporter. We made wonderful deals together. He will never be forgotten,” President Trump said. Jack Welch was 84-years-old and is survived by his wife and family.
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The Reserve Bank of India (RBI) on Tuesday calmed nerves of the panic-hit market after fresh a rise in coronavirus cases was confirmed by the Indian government. Two fresh cases were reported in Delhi and Telangana of coronavirus which has spread to more than 70 countries and killed over 3,000 people and infecting almost 90,000. “The Reserve Bank of India is monitoring global and domestic developments closely and continuously and stands ready to take appropriate actions to ensure the orderly functioning of financial markets, maintain market confidence and preserve financial stability”, the RBI said in a note.
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Vodafone Idea Ltd pays around Rs 3,043 crore to government towards deferred spectrum dues, sources told PTI
The Sovereign Gold Bond Scheme 2019-20 – Series X (Tranche 37) has opened on March 2, 2020, for subscription and will close on March 6, 2020. The issue price of the Bond during the subscription period will be Rs 4,260 per gram with the allotment date of March 11, 2020. For those investors who will apply online and make the payment through the digital mode, there is a discount of Rs 50 per gram on the issue price. For such investors, the issue price of Gold Bond will be Rs 4,210 per gram of gold.
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Plans originally called for a seaport, roads, railways, pipelines, dozens of factories and the largest airport in Pakistan. But, almost seven years after the China-Pakistan Economic Corridor was established, there’s little evidence of that vision being realized.
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Narendra Modi government’s two pet schemes to support entrepreneurship and self-employment by helping set-up micro-enterprises — Standup India and Pradhan Mantri Mudra Yojna (PMMY) have women as their biggest beneficiaries. Nearly four-year-old Standup India scheme, under which bank loans of Rs 1 lakh to Rs 1 crore are facilitated to at least one scheduled caste or scheduled tribe and one woman borrower per branch of scheduled commercial banks, over 81 per cent account holders are women as on February 17, 2020, according to Ministry of Finance.
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Credit and Finance for MSMEs: Informal credit ends up being much more expensive for MSMEs than formal debt making it difficult for them to address accumulated debt burden.
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Sector indices on NSE were up on Tuesday. Nifty Pharma was the biggest gainer among the lot followe dby Nifty Metal gaining 3.32 per cent and 3.26 per cent, respectively. Nifty bank was up by 0.22 per cent during the day. Nifty IT too was up by 0.97 per cent.
Global soft-drink manufacturer Coca-Cola will bring the taste of Thums Up and mango-based drink Maaza to the world as the company looks to sell these homegrown brands to other global markets. Coca-Cola “has robust plans to market marquee Coca-Cola India homegrown brands like Thums Up and Mazaa globally in other markets,” the beverage company said in a press release on Monday. Maaza was introduced in the 1970s in India and Coca-Cola had acquired both Maaza and Thums Up from Parle-Bisleri in 1993. Maaza is also sold in some other countries in the Middle East and Africa.
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Even as the Indian economy strives to recover from a slowdown, the Coronavirus outbreak has further hit the possibility of revival given the negative impact on the various sectors of the economy. As the economy battles a new scare, stock markets are witnessing fresh volatility negatively impacting investors. With the cases of Coronavirus getting detected in India, the sentiment is expected to further go down. Here we analyse the negative impact of Coronavirus’s impact on the domestic economy, industry, stock and currency market.
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Share price of drug-maker Pfizer Limited surged 13 per cent on Tuesday morning after reports claimed that the parent company of Pfizer, has identified some antiviral compounds with potential as Coronavirus treatments. Pfizer was trading at a price of Rs 4,925 per share, hitting a 52-week high. With two more cases of Coronavirus surfacing in India on Monday morning, markets reacted strongly giving up their gains and slumping down to trade in the red.
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Eicher Motors share price jumped as much as 4.87 per cent to Rs 17,835.20 apiece on BSE in Tuesday’s trade after the company informed stock exchanges that the board of directors will meet on March 11, 2020, to consider and approve a proposal for payment of interim dividend. Earlier, the Royal Enfield maker released its sales figures for February 2020, where sales of motorcycles of models with engine capacity up to 350cc remained flat at 57,292 units on year-on year (YoY) basis, while models with engine capacity exceeding 350cc grew 11 per cent YoY to 6,244 units.
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Goods and Services Tax (GST) collections, in aggregate, are still way below the targets set by the authorities, but their efforts to improve compliance, check excessive use of input tax credits and frustrate frauds like fake invoicing are paying off, albeit gradually. Since the Centre cut its own budget estimate for GST by over 8% to Rs 6.1 lakh crore, it would likely meet the revised estimate, even with the current pace of collections; but in order to be able to meet the gross collections target, which includes fully compensating the states for any revenue shortfall from the assured annual-growth level of 14%, the March mop-up requires to be an impossibly high Rs 1.4 lakh crore.
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From a total of 10 crore shares on offer 4.81 crore were subscribed till 11 AM on Tuesday. Retail investors bid for 3,28,23,298 shares against the 4,27,96,641 shares offered under the category.
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Gold price in India rose on Tuesday, tracking gains in global rates on expectations of policy easing by US Federal Reserve and other central banks to support the global economy dented by coronavirus. Gold April futures were trading Rs 129 or 0.31 per cent higher at Rs 42,085 per 10 grams, while silver May futures were ruling at Rs 45,410 per kg, up Rs 415 or 0.92 per cent on Multi Commodity Exchange of India (MCX) on Tuesday.
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After two new cases of Coronavirus were confirmed in India on Monday, markets reacting sharply and fell more than 1,100 points from the day's high. On Tuesday morning Nifty Pharma was trading in the green, up by 2.64 per cent. Almost all its constituents, except Cadila Healthcare were up.
Vodafone Group’s global CEO, Nick Read, has sought a meeting with telecom minister Ravi Shankar Prasad on March 6. The meeting request was sent on February 28 but so far the minister’s office has not reverted with any confirmation, sources told FE. Vodafone Plc, which is present in India through its joint venture, Vodafone Idea is currently battling to pay its adjusted gross revenue (AGR) dues totalling Rs 53,039 crore. The company, which has so far made payments of only Rs 3,500 crore has said that it is not in a position to pay any more and its viability depends on some relief measures by the government.
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Ending seven-day losing streak, domestic equity market benchmarks Sensex and Nifty rose in Tuesday’s trade on speculation that policymakers around the world would ease economic fallout from fast-spreading of COVID-19 ahead of the conference call by G7 finance ministers. Two fresh cases of COVID-19 were confirmed in India, one in Delhi and another in Telangana on Monday. In a separate news report, an Italian national was tested positive for coronavirus in Rajasthan, taking the number of people who have tested positive in the country to six.
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SBI Cards IPO saw a positive response from investors as the issue was subscribed 39% on the first day. Retail investors and SBI employees were the ones to lead the bid. Retail investors bid for 63% of the shares offered under the category while employees of SBI bid for 80% of the shares under the category. Shareholders of SBI stocks too showed interest bidding for 69% of the shares under the category.
PM Modi’s target of a $5-trillion economy by 2025 has sparked much debate in the media and elsewhere. A senior economist from the government is on record saying the calculation is based on 8% real growth, 4% inflation and currency exchange at $1=Rs 75 by 2025.
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The Nifty Metal index was the top sectoral gainer in the opening trade led by gains in shares of Jindal Steel, Welspun Corp, Vedanta and JSW Steel.
Tata Steel was the top Sensex gainer with a growth of 2.83 per cent, followed by Sun Pharma, ICICI Bank and Bharti Airtel. RIL, ICICI Bank, HDFC and Infosys were among the major contributors to the index today.
S&P BSE Sensex jumped 450 points or 1.14 per cent to trade at 38,577, while the broader Nifty 50 index surged to 11,275, gaining 142 points or 1.28 per cent in the opening trade.
The Indian rupee opened sharply higher at 72.46 a dollar against Monday's close of 72.73 a dollar.
India’s crude import bill may decline by a massive $17 billion or 17% year-on-year in FY21 if the Indian basket price remains subdued around the current level of $50/barrel through the next fiscal, in what could give a big relief to the country’s current account. The price of the Indian crude oil basket, which stood at $64 per barrel in January, dropped to $55 in February.
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SBI Cards and Payment Services initial public offering (IPO) subscribed 39 per cent at the end of the day. It received bids for 3,94,45,830 shares against the total offering of 10 crore shares under various categories. Retail investor category saw bids for more than 62 per cent of the reserved portion of 4.27 crores. Non-institutional investor bid for 22 lakh shares on the first day which was 12 per cent of the shares reserved under the category
We recently met with the Head of Investor Relations at Ujjivan Financial Services. In the last year, the bank has seen a change in MD & CEO (May’19) and the listing of Ujjivan Small Finance Bank – the key subsidiary operating entity (Oct’19). The bank is focussed on emerging as mass-market bank beyond its roots as a microfinance lender. Key trends on assets (growth and diversification), liabilities and asset quality have shown improvement in recent quarters.
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Trends on SGX Nifty suggest flat to positive opening for Sensex and Nifty, with 39 points or 0.35 per cent gain. The Nifty futures were trading around 11,160-level on the Singaporean Exchange.
We believe the turnaround of the acquired Century Cement’s assets itself could add 4-5% to UltraTech Cement’s (UTCEM) EBITDA in FY21. Coupled with increased cost efficiencies and industry average 6-7% volume growth, we model 13% EBITDA CAGR for UTCEM over FY20-22E on a high base of >30% EBITDA growth in FY20E.
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On Monday, foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 1,354.72 crore while the domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,138 crore, as per the data available with NSE suggested.
Harmonisation of banking products, policies and processes for the merger of Allahabad Bank with Indian Bank is going on ‘smoothly’, and the two lenders are working to meet the April 1 deadline as the probable effective date for the mega consolidation of 10 state-owned banks. The two banks have also chalked out plans to clock Rs 10 lakh-crore business for the amalgamated entity in the next two-three years.
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Indian equities bucked the trend seen in other Asian markets to close in the red on Monday, after two new cases of Covid-19 were reported in Telengana and New Delhi. The markets gave up initial gains on Monday after new cases were reported raising doubts over the containment of the deadly virus. After rising 786 points in early trade, the Sensex closed 153.27 points down ending the day at 38,144 points. The benchmark extended its fall for the seventh day and marked its longest losing streak so far in 2020. The index has lost about 8% in the last seven sessions while the broader Nifty50 closed 69 points lower at 11,132.75 points. Investor wealth to the tune of Rs 12.9 lakh crore has been wiped out during the last seven sessions.
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SBI Cards and Payment Services initial public offering (IPO) saw a positive response from investors on the first day of bidding and was subscribed 39 per cent at the end of the day. The second-largest card issuer in the country received bids for 3,94,45,830 shares against the total offering of 10 crore shares under various categories. SBI Cards is planning to raise more than Rs 10,000 crores, which will make it the fifth-largest IPO ever in the country. Retail investor category saw bids for more than 62 per cent of the reserved portion of 4.27 crores. Non-institutional investor bid for 22 lakh shares on the first day which was 12 per cent of the shares reserved under the category.
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