Market Highlights: Sensex jumps 2,476 pts to end above 30,000, Nifty tops 8,750; IndusInd Bank share price up 25%

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Updated:Apr 07, 2020 6:20:35 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: All the 30 Sensex stocks ended in green today with IndusInd Bank as the top gainer with a growth of 22.60 per cent, followed by Axis Bank, M&M, ICICI Bank and Hindustan Unilever (HUL)

Share Market Today, Share Market LiveAll Nifty sectoral indices traded in positive territory with Nifty Private Bank index as the top sectoral gainer, up 11.07 per cent

Share Market News Today | Sensex, Nifty, Share Prices Highlights: As the surge in last hour intensified, domestic equity market benchmarks Sensex and Nifty settled nearly 9 per cent higher on Tuesday led by index heavyweights such as RIL, HDFC Bank and ICICI Bank. 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. All the 30 Sensex stocks ended in green today with IndusInd Bank as the top gainer with a growth of 22.60 per cent, followed by Axis Bank, M&M, ICICI Bank and Hindustan Unilever (HUL). All Nifty sectoral indices traded in positive territory with Nifty Private Bank index as the top sectoral gainer, up 11.07 per cent driven by IndusInd Bank, Axis Bank and ICICI Bank. Similarly, Nifty Bank index closed 10.43 per cent higher with Aurobindo Pharma, Dr. Reddy’s laboratories and Cadila Healthcare as top index gainers.

India’s growth could slip below 3 per cent in the current fiscal if COVID-19 proliferates within India, lockdown extended and global economy slips into recession, a KPMG report said. It said the three major contributors to GDP — private consumption, investment and external trade — will all get affected due to the spread of the pandemic. The KPMG report presented three scenarios to explain the economic effects of COVID–19. In the scenario of quick retraction across globe by April-end to mid-May, the report said “India’s growth for 2020-21 may be in the range of 5.3 to 5.7 per cent, though this scenario looks distant at this moment”.

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Highlights

    16:48 (IST)07 Apr 2020
    Global markets looking better on possibility of Covid-19 peaking out in hotspots: Ambareesh Baliga

    Frstly the global markts were looking better - possibility of Covid-19 peaking out in the hotspots like Italy, US, Spain, Germany, Iran etc. Closer home, the number shud look better as the spike was linked to a religious gathering- and with most of the attendees quarantined - do not expect another spike. Also expectation of gradual exit from LockDown. Once the buying started - there was short covering too. Also once MSCI is re-balanced - shud be favourable for India, said Ambareesh Baliga, Independent Market Analyst.

    15:18 (IST)07 Apr 2020
    All 30 Sensex stocks in green

    All 30 Sensex stocks were trading in green as Bajaj Finance, which was the only loser on pack, turned positive. IndusInd Bank, Axis Bank and ICICI Bank were top Sensex gainers.

    15:10 (IST)07 Apr 2020
    Sensex reclaims 30,000, Nifty nears 8,800

    As the surge intensified in the last hour of trading, S&P BSE Sensex climbed 2,500 points or 9 per cent to 30,068, while the broader Nifty 50 index was ruling at 8793, up 710 points or 8.77 per cent.

    Check live Sensex, Nifty levels

    15:00 (IST)07 Apr 2020
    These 87 stocks hit 52-week lows on NSE even as Sensex, Nifty continue with bull run on D-Street

    Even as Sensex and Nifty are set to post the biggest single-day gains since 2009, around 87 stocks plunged to hit 52-week lows on NSE in Tuesday’s trade. Bajaj Finance, Eicher Motors, Mahindra & Mahindra Financial Services, PVR, RBL Bank, JK Lakshmi Cement, Future Lifestyle Fashions and Vakrangee were among the stocks that touched 52-week lows on NSE. Domestic benchmark index NSE Nifty 50 was trading 628 points or 7.78 per cent higher at 8712, while the S&P BSE Sensex was trading at 29,817, up 2226 points or 8.07 per cent.

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    14:23 (IST)07 Apr 2020
    With skies empty, aviation industry runs out of adjectives for its agony; recovery only after a year

    Aviation industry in India will take a year to recover to normalcy as the current coronavirus crisis takes a massive toll on airlines across the globe. “For India to return to a pre-COVID operational fleet of 650 aircraft is likely to take up to 12 months from the time that restrictions are lifted, and this may be conservative,” industry advisor CAPA said in a report on Monday.

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    14:07 (IST)07 Apr 2020
    IndusInd Bank share price rockets 22% amid rally in Sensex, Nifty

    IndusInd Bank share price surged 22 per cent to Rs 382.30 apiece on BSE in Tuesday's late afternoon session. It hit an intraday low of 344.55 on BSE

    Check live prices: IndusInd Bank

    13:46 (IST)07 Apr 2020
    Sensex gains 2,000 points to trade at day's high

    Sensex jumped 2,000 poinst or 7.34 per cent to 29,615.20, while the broader Nifty50 index was ruling at 8,665, up 582 points or 7.20 per cent.

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    13:22 (IST)07 Apr 2020
    IndusInd Bank becomes the top gainer on National Stock Exchange

    Private lender IndusInd Bank zoomed 17.4% on the NSE to trade at Rs 367 per share. With this IndusInd Bank became the biggest gainer on the index. The 50-stock Nifty is up by 544 points or 6.73%

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    13:22 (IST)07 Apr 2020
    Britannia starts 1 hour delivery of essential items amid lockdown; partners with Dunzo in 8 cities

    FMCG major Britannia has started one-hour delivery of essential items in eight cities as the country remains under a 21-day lockdown in the wake of the coronavirus outbreak. The maker of Good Day cookies has partnered with delivery service provider Dunzo to deliver daily essentials such as biscuits, cakes, rusk, croissants, milkshakes, wafers, ghee and dairy whitener. Customers can place the order for these items via the Dunzo app. The items will be delivered within an hour of ordering from the Britannia Essentials store, the company said in a statement on Tuesday.

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    13:09 (IST)07 Apr 2020
    HDFC Bank as well as Kotak Mahindra Bank shares have jumped close to 8%

    After reporting a jump in deposits and advances during the last quarter of financial year 2020, India’s largest private sector lender, HDFC Bank saw its share price jump up by 7.7 per cent to trade at Rs 876 per share. The upward jump on the bourses was mirrored by another private lender, Kotak Mahindra Bank.

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    12:52 (IST)07 Apr 2020
    Investors wealth jumps Rs 6 lakh crore as Sensex, Nifty gain over 6% on Tuesday

    After two consecutive days of fall, headline indices Sensex and Nifty gained more than 6 per cent on Tuesday led by the rally index heavyweights such as RIL, HDFC Bank, Infosys and HUL. With today’s surge, investor wealth jumped Rs 6 lakh crore today’s trade. The 30-share Sensex gained 1,589 points to touch a day’s high of 29,180 while the broader Nifty50 index jumped 462 points to hit an intraday high of 8,545. The market capitalisation of the BSE-listed firms zoomed to Rs 114 lakh crore from Friday’s close of Rs 108 lakh crore.

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    12:31 (IST)07 Apr 2020
    Factories must reopen soon but not at risk of spreading coronavirus; here’s which ones must open

    As the country prepares to lift the 21-day lockdown which was imposed in the wake of coronavirus, the government must now also look at restarting production in certain sectors which deal in the making of essential commodities. While Prime Minister Narendra Modi has asked his ministers to “ensure staggered re-emergence of the population”, the focus should now shift from sorting out distributional issues to producing essential items as manufacturing has come to a grinding halt in the last few days of lockdown.

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    12:04 (IST)07 Apr 2020
    Sensex, Nifty extend gains; up over 5.5%

    Benchmark indices extended the gains in trade. S&P BSE Sensex was trading at 29,101.13, up 1510.18 points or 5.47 per cent. The broader Nifty 50 index was ruling 440 points or 5.45 per cent higher at 8,524.

    Check live Sensex, Nifty levels

    12:01 (IST)07 Apr 2020
    Gold price today above Rs 45,000, soars 20% in less than a month; should you buy or sell

    Gold prices in India hit record high on Tuesday as the coronavirus cases in the country surpassed 4,000-mark, making riskier assets such as equities less lucrative due to which investors rushed to safe-haven assets. Gold June futures were up 3.44 per cent or Rs 1,503 to Rs 45,225 per 10 grams at around 9.40 am. It scaled an all-time high of Rs 45,724 at the open. Silver May futures were up 5.72 per cent or Rs 2,358 to Rs 43,581 per kg on MCX, at the time of publishing.

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    11:34 (IST)07 Apr 2020
    Sensex headed further down? Mutual fund CEO says downside limited; here's what investors must do

    Having fallen close to 40% from its all-time high, S&P BSE Sensex might have just reached the levels from where it will start to see an upward trajectory. S&P BSE Sensex may have a limited downside from the current level, said A Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC.

    11:12 (IST)07 Apr 2020
    Steering through market mayhem: 5 things to do

    We are currently witnessing a swift and sharp correction. For many of us this may not be new, but the suddenness is surprising for all of us. The mood world over is tense hoping for a solution to COVID-19. While many countries, governments and global institutions have been working overtime to contain the situation, we need time to see how all these measures and efforts play out. Likewise, the times are such that we have an exaggerated sense of fear with global collapse of assets like never seen before.

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    11:04 (IST)07 Apr 2020
    Tanfac Industries tops gainers list on Sensex

    Tanfac Industries Ltd, a joint sector firm promoted by Aditya Birla Group and Tamil Nadu Industrial Development Corporation has jumped 20% to trade at Rs 103.20 per share.

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    10:30 (IST)07 Apr 2020
    Coal India relaxes payment norms to clear stocks

    Hoping that power plants lift more coal from its pits, state-run Coal India (CIL) has relaxed payment norms for its customers. Customers, who had to clear payments to CIL by April 7, can now pay the company by April 21. To help cash-strapped power producers tackle liquidity crunch, CIL has also implemented new letter of credit (LC) mechanism as an additional mode of payment, the company said.

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    10:22 (IST)07 Apr 2020
    Reliance Industries gain 5% on Nifty

    Telecom-to-oil conglomerate Relaince Industries limited has jumped 4.8% to trade at Rs 1,130 per share of the national stock exchange.

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    10:20 (IST)07 Apr 2020
    Sensex, Nifty gain 5% after 3-day trading holiday; check what’s driving this rally on D-Street today

    After a three-day trading holiday, headline indices Sensex and Nifty started the week with a uptick of nearly 5 per cent on Tuesday mirroring the gains in the global markets. S&P BSE Sensex was trading 1,325 points or 4.80 per cent to 28,961, while the broader Nifty 50 index was ruling at 8,446, up 363 points or 4.5 per cent higher.

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    10:08 (IST)07 Apr 2020
    Pharma companies lead Nifty Next 50's top gainers

    Among the top 5 gainers on Nifty junior, 4 are pharma companies. While Cadila Healthcare has jumped the most with a 12% surge, Lupin took the second spot with a 7.12% gain. Aurobindo Pharma and Biocon make up the other top gainers. 

    09:48 (IST)07 Apr 2020
    Bajaj Finance share price drops 3%, only loser on S&P BSE Sensex

    Bajaj Finance share price dropped more than 3 per cent to Rs 2,140.70 apiece on BSE in Tuesday, making it the only loser among 30 Sensex stocks.

    Check live prices: Bajaj Finance

    09:46 (IST)07 Apr 2020
    MCX gold opens with huge gap-up on Tuesday

    Continuing with yesterday's positive undertone, MCX gold on a holiday shortened week has opened with huge gap up as the Federal Reserve on Monday moved to bolster a new small-business lending program by allowing banks to turn those loans over to the U.S. central bank for cash. Japanese Prime Minister Shinzo Abe pledged to roll out an unprecedented economic stimulus package, equal to 20% of economic output. The holdings at the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund rose to 984.26 tonnes on Monday as compared to 964 tonnes on last Monday, says Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Shares and Stock Brokers.

    09:43 (IST)07 Apr 2020
    Fresh investment: Swiggy adds Rs 264 crore to cart in Series I funding

    Swiggy has raised Rs 263.56 crore ($35 million) from a clutch of investors as part of its ongoing Series I investment round, according to the company’s RoC filings sourced from business signals platform paper.vc. The fresh funding round was led by Netherlands-based Tencent Cloud Europe BV with `142.48 crore.

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    09:39 (IST)07 Apr 2020
    Gold prices hit all-time high of Rs 45,724 per 10 grams

    Gold June futures were up 3.19 per cent or Rs 1,393 to Rs 45,115 per 10 grams at around 9.40 am. It scaled an all-time high of Rs 45,724 at the open. Silver May futures were up 5.21 per cent or Rs 2,146 to Rs 43,369 per kg on MCX.

    09:32 (IST)07 Apr 2020
    Nifty Private Bank index up over 6%

    All the Nifty sectoral indices were trading in a positive territory with Nifty Private Bank index up 6.21 per cent led by gains in IndusInd Bank, ICICI Bank and Axis Bank.

    09:25 (IST)07 Apr 2020
    Private bank stocks lead the gain, IndusInd Bank up 10%

    All 30 Sensex stocks were trading in green today with private bank stocks leading the gains. IndusInd BankICICI BankAxis Bank and Kotak Mahindra Bank were among the top gainers on the S&P BSE Sensex.

    Check live prices: IndusInd Bank

    09:23 (IST)07 Apr 2020
    Sensex, Nifty jump 4% higher in opening trade

    S&P BSE Sensex jumped 1,180 points or 4.28 per cent to 28,771, while the broader Nifty 50 index was trading 321 points or 4 per cent higher at 8,405.

    Check live Sensex, Nifty levels

    09:12 (IST)07 Apr 2020
    Money market to open at 10AM

    Money market to open at 10 am today as per RBI guidelines. The Reserve Bank of India on Friday cut forex markets timing to 10 am till 2 pm.

    09:08 (IST)07 Apr 2020
    Sensex jumps 1,300 pts in pre-opening session

    Domestic equity market benchmark indices are trading positive in the pre-opening session. At 09:07 AM, the Sensex is up 1,280 points or 4.64 at 28871.44. The 30-share index settled at 27,591 on Friday.

    08:54 (IST)07 Apr 2020
    RBI cuts trading hours for money, other financial markets; cites these risks

    Lockdowns, social distancing, restrictions on the movement of people and non-essential activities have not only pulled brakes on economic activities but the trading hours in the financial markets have also been decreased. RBI has cut the trading hours of various markets up to 4 hours daily. The money market where financial instruments with high liquidity and short-term maturities are traded will be open only from 10 am to 2 pm, instead of 9 am to 5 pm from April 7 to April 17.

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    08:49 (IST)07 Apr 2020
    PM Modi to ministers: Prepare for post-lockdown economic fight

    Prime Minister Narendra Modi on Monday asked his council of ministers to firm up a business continuity plan and brace for fighting the “economic impact of the Covid-19 outbreak on a war footing” once the lockdown is lifted. In a meeting, via video conference, Modi asked the ministers concerned to ensure that the Rs 1.7-lakh-crore relief package, announced late last month, is implemented swiftly and seamlessly to soften the blow to the poor and the vulnerable.

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    08:43 (IST)07 Apr 2020
    Budget maths majorly upset, rework FY21 Budget once Covid-19 is contained: Subhash Garg

    With tax revenues likely to be hit hard due to Covid-19, the Centre should present another Budget for FY21 after the pandemic is fully contained, former finance secretary Subhash Chandra Garg told FE. Since borrowing is likely to be scaled up in the second half of this fiscal than Budget plans suggest, he said the fiscal deficit should be monetised in view of the need to give stimulus to people and companies struggling with massive disruptions in the economic activity.

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    08:39 (IST)07 Apr 2020
    US stocks surge 7%

    US stocks rocketed higher on Monday, with each of the major indexes rallying at least 7%, after a fall in the daily death toll in New York, fueled optimism a leveling off of the pandemic was on the horizon. The Dow Jones Industrial Average rose 1,627.46 points, or 7.73%, to 22,679.99, the S&P 500 gained 175.03 points, or 7.03%, to 2,663.68 and the Nasdaq Composite added 540.16 points, or 7.33%, to 7,913.24.

    08:38 (IST)07 Apr 2020
    Asian stocks gain, track Wall Street

    Asian stocks climbed tracking gains on Wall Street on signs of a slowdown in coronavirus-related deaths. Nikkei futures opened lower but were 2.3% above the cash close. The yen eased 0.01% as traders awaited more details on the government’s stimulus package.

    08:37 (IST)07 Apr 2020
    Coronavirus outbreak makes a dent of $408 bn in world’s top 100 billionaires’ wealth in 2 months

    The Covid-19 outbreak has led to an unprecedented loss to the global wealth with the top 100 billionaires losing $408 billion or 13% of the total wealth in two months, wiping out all gains made in the past two and a half years, according to a special report by the China-based Hurun Report. This special report follows on from the Hurun Global Rich List 2020, which had a wealth cut-off of January 31, 2020.

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    08:34 (IST)07 Apr 2020
    Investors are advised to continue their SIPs: Jimeet Modi, SAMCO Securities & StockNote.

    It can reasonably be expected that the Government will announce a second round of economic relief package before the lock down is lifted by mid-April. However, in anticipation of such package markets are likely to witness bounces. Pharmaceuticals look resilient and seems to be little affected by the lock down, traders can take long positions in this sector. Financials may rebound after the relief package is announced so one can wait and watch for the time being. As an asset allocation strategy going for quality corporate bonds with yields of around 12% or higher would be a good option in these stressful times. Investors are advised to continue their SIPs which would help them take advantage of the irrationally beaten down prices, says Jimeet Modi, Founder & CEO, SAMCO Securities & StockNote.

    08:32 (IST)07 Apr 2020
    Market trend will continue to remain challenging: Ajit Mishra, VP - Research, Religare Broking Ltd

    'We believe the market trend will continue to remain challenging until the fresh cases start to decline. Though the defensive pack is playing saviour, the damage in other sectors is more severe and that would keep the markets under pressure ahead also. In short, traders should continue with short bets while keeping the focus on risk management,'  Ajit Mishra, VP - Research, Religare Broking Ltd said.

    08:19 (IST)07 Apr 2020
    Traders are advised not to create aggressive bets in such kind of environment

    'As we all know, markets are clearly driven by fear and sentiments, and till the time, things with respect to coronavirus pandemic does not subside, the pain is likely to stay in the market. Traders are advised not to create aggressive bets especially leveraged positions in such kind of environment,' Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) said.

    08:17 (IST)07 Apr 2020
    India’s growth may slip below 3% in current fiscal if COVID-19 proliferates: KPMG

    India’s growth could slip below 3 per cent in the current fiscal if COVID-19 proliferates within India, lockdown extended and global economy slips into recession, a KPMG report said. It said the three major contributors to GDP — private consumption, investment and external trade — will all get affected due to the spread of the pandemic.

    Read full story

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