Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks Sensex and Nifty settled over 2 per cent lower on Friday weighed by sell-off in index heavyweights such Axis Bank, IndusInd Bank and ICICI Bank. S&P BSE Sensex ended 674 points or 2.39 per cent down at 27,591, while broader Nifty50 index finished below the crucial 8,100 level, down 170 points or 2.06 per cent. As many as 21 stocks out of 30 Sensex stocks settled in deep sea of red with Axis Bank as the top Sensex loser, down 8.86 per cent, followed by IndusInd Bank, ICICI Bank and Titan. On the flip side, Sun Pharma was the top Sensex gainer with a growth of 9.5% to Rs 376. ITC, ONGC and M&M were among the other gainers on the index. Except for Nifty FMCG and Nifty Pharma, all the sectoral indices finished in red today. Nifty Bank index dropped 5.27 per cent weighed by RBL Bank, Axis Bank and IndusInd Bank. While Nifty FMCG index traded higher led by gains in ITC, Emami and Colagte-Palmolive.
The World Bank has approved USD 1 billion emergency funding for India to help it tackle the coronavirus pandemic, which has claimed 76 lives and infected 2,500 people in the country. The World Bank’s first set of aid projects, amounting to USD 1.9 billion, will assist 25 countries, and new operations are moving forward in over 40 nations using the fast-track process, the bank said on Thursday. The largest chunk of the emergency financial assistance has gone to India – USD 1 billion. “In India, USD 1 billion emergency financing will support better screening, contact tracing, and laboratory diagnostics; procure personal protective equipment; and set up new isolation wards,” the World Bank said.
Businesses throughout the country and globe are struggling through the lockdown and a slump in demand but the poultry industry is hit more by rumours than from lockdown and Covid-19 pandemic. The fake news and rumours about how consuming chicken or other meat products can spread the dreaded disease have contributed to a sharp decline in sales of the poultry sector in the last quarter. The industry suffered sizable losses in the last 2-3 months which wiped out almost all profit booked in the first three quarters in the last fiscal year.
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With the coronavirus outbreak continuing its upward swing, FMCG companies may be in for a further blow as consumer sentiment remains shaken. This will also lead to a decline in purchases of costlier FMCG products, according to a research report. “Given second order adverse impact on consumer sentiment, wage growth etc, we see risk to premiumisation trend and lower discretionary spends/impulse purchases if the macro weakness is prolonged,” according to the JP Morgan report. Pre-coronavirus, FMCG companies were reeling under a prolonged demand slump as various factors led to lower sales growth.
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Domestic stock market will remain closed on Monday, April 6, 2020, on account of Mahavir Jayanti.
Private bank stocks such as ICICI Bank, Axis Bank and IndusInd Bank were top losers on S&P BSE Sensex. Sun Pharma, ITC and ONGC were the top gainers on the index at this hour.
There is almost no doubt that the pandemic is a “black swan” event and no government could have been prepared adequately to deal with the scale of the impact it is likely to have on their economy. That said, the Indian government has done a commendable job of taking quick actions and in a phased manner.
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Drug maker Lupin has jumped 10% to trade at Rs 642 per share making it the best performing stock on the Nifty Next 50 index.
As the coronavirus outbreak continues its blows on India’s economy, consumer durables companies are also in for a major earnings loss. “The ongoing lockdown and its impact on the economy in the near term have led to 8-39% cut in our FY21-22 earnings estimates for both consumer electrical and durable companies,” an Emkay Global Financial Services report said on Friday.
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Domestic benchmark index S&P BSE Sensex has tanked 715 points or 2.53%. Among the worst losers are ICICI Bank and IndusInd Bank, down by 8.9% and 7.11%, respectively.
With crude oil prices falling close to 3%, a day after registering a 20% jump, oil marketing companies (OMC), paint manufacturers, natural gas distributors and domestic crude explorers are sending mixed signals on the bourses.
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Indian stock market benchmark indices Sensex and Nifty were trading nearly 2 per cent lower on Friday amid growing concerns over coronavirus (COVID-19) pandemic in India and elsewhere. The 30-share index Sensex slipped below the psychological level of 28,000, while the broader Nifty 50 index breached the crucial 8,100 level in the intraday trade. Amid this weak market, there are five stocks that hit 52-week highs on NSE including Bafna Pharmaceuticals, ICICI Prudential Gold ETF, ABB Power Products and Systems India, Ruchi Soya Industries. Overall, 19 scrips were trading in green in the Nifty 50 index, while 31 stocks were in red.
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A total of 17 stocks hit their respective 52-week highs on BSE in Friday's weak session. These include Ruchi Soya Industries, Cospower Engineering, ABB Power Products and Systems India and Gaurav Mercantiles among others.
The coronavirus pandemic could cost the global economy $4.1 trillion as it ravages United States, Europe and other major economies, the Asian Development Bank warned on Friday The estimated impact is equivalent to nearly five percent of worldwide output based on a range of scenarios, but the lender said losses from “the worst pandemic in a century” could be higher.
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Bafna Pharmaceuticals, ICICI Prudential Gold ETF, ABB Power Products and Systems India, Ruchi Soya Industries, and S&S Power Switchgears share prices hit 52-week highs on NSE in a weak market.
India’s checkered history with foreign investors is making one of the biggest emerging markets look particularly vulnerable at a time when its need for overseas funding has never been clearer. Decades of semi-socialist, self-reliance based policies following independence left a legacy of ambivalence, or even skepticism, towards overseas capital.
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Gold prices jumped one per cent on Friday tracking positive trends in the global spot market on the back of record high US unemployment claims. On MCX, gold June futures were trading Rs 350 or 0.81 per cent higher at Rs 43,590 per 10 grams, while silver may futures were ruling at Rs 40,930 per kg, up Rs 1,058 or 2.65 per cent.
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Share price of pharma major, Sun Pharma jumped 10% to trade at Rs 378 per share.
Falling 1.41%, Eicher Motors Limited has hit a fresh 52-week low of Rs 12,710 per share on the National Stock Exchange on Friday.
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Tata Sons chairman Natarajan Chandrasekaran recently bought as much as Rs 20 crore worth of shares of Tata group companies including Tata Steel and Tata Motors, as a sharp stock market correction seemed to have made valuations very attractive.
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Around 11.15 AM, S&P BSE Sensex was trading at 27,857.32 down 407.99 points or 1.44 per cent, while the broader Nifty50 index was below the crucial 8150 mark, down 107 points or 1.29 per cent.
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Extending losses from the previous session, headline indices Sensex and Nifty were trading over 1.5 per cent lower on Friday even as World Bank approved USD 1 billion emergency funds for India to tackle coronavirus (COVID-19) outbreak. S&P BSE Sensex was trading at 27,882, down 383 points or 1.36 per cent, while Nifty 50 slipped below the crucial 8,200 mark, to trade at 8,154, down 100 points or 1.21 per cent.
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Even though hospitals are mounting as the first line of defense against the coronavirus pandemic, revenues are expected to fall in the comoing quarters as regular patient intake drops. Despite that Apollo Hospital share price is witnessing a surge on the bourses on Friday. The stock is up 6.44% trading at Rs 1,157 per share.
Only Nifty Realty and Nifty Pharma were trading in the green on Friday morning as Nifty 50 fell over 100 points. Nifty Pharma was up 0.51%, while Nifty Realty was up 0.61%.
Nifty Auto index was down 2.63 per cent on the back of weak sales number by car makers in India. Ashok Leyland was top index loser, followed by TVS Motors, Hero MotoCorp and Tata Motors.
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Gold prices jumped over 1%, as record high U.S. jobless claims for a second week in a row intensified fears of economic damage due to the coronavirus and drove investors towards the safe-haven metal. The pandemic has infected nearly 1 million people across the world and killed over 50,000 and forced countries to ensure restrictions and lockdowns to combat the outbreak. Key focus would be non farm payrolls from the US to be monitored closely, says Jigar Trivedi, Fundamental Reasearch Analyst, Anand Rathi Shares and Stock Brokers.
PVR share price plunged 7.20 per cent to Rs 978.55 apiece on BSE in Friday's trade. PVR shares hit 52-week low today.
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ONGC was the top Sensex gainer with a growth of 3.73 per cent. Power Grid, HCL Tech, Tech Mahindra and HUL were among other Sensex gainers on the pack.
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As many as 18 stocks out of 30 Sensex stocks were trading in red today. Kotak Mahindra Bank was top Sensex loser, extending the previous session's losses, was down 7 per cent to Rs 1,098, followed by IndusInd Bank, down over 5%.
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S&P BSE Sensex was trading at 27,929.34, down 335.97 points or 1.19 per cent, while Nifty 50 slipped below the crucial 8,150 mark, to trade at 8,148.45, down 105.35 points or 1.28 per cent.
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Indian equity markets were able to better their performance when it came to raising money via IPOs, OFS and QIPs along with other capital raising tools in the last financial year 2019-20, injecting a total of Rs 91,670 crore, up 62 per cent from that in the previous fiscal. Bulk of the money was raised by the thirteen Qualified Institutional Placements (QIP) that the public equity markets saw, as the funds raised reached a staggering Rs 51,216 crore. The largest QIP of the fiscal was from telecom major Bharti Airtel, which managed to raise Rs 14,400 crore, accounting for 28 per cent of the total QIP amount raised, according to Prime Database.
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The World Bank on Thursday approved $1-billion emergency financing for India to tackle the coronavirus outbreak, which has claimed 76 lives and infected 2,500 others in the country. The World Bank's first set of aid projects, amounting to $1.9 billion, will assist 25 countries, and new operations are moving forward in over 40 nations using the fast-track process, the bank said, PTI reported.
Global cereal markets are expected to remain comfortable in 2020 despite the threat posed by Covid-19, with only localised disruptions expected due to logistical issues, Food and Agriculture Organisation (FAO) of the United Nations said in a report on Thursday. It added that localised disruptions, largely due to logistical issues, pose challenges to food supply chains in some markets and their anticipated duration and magnitude are unlikely to have a significant effect on global food markets.
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Fitch Ratings on Thursday downgraded Future Retail’s expected long-term issuer default rating (IDR) to ‘B-(EXP)’, from ‘BB(EXP)’, and the expected rating on its $500-million 5.6% senior secured notes due in 2025 to ‘B-(EXP)’ with a recovery rating of ‘RR4’ from ‘BB(EXP)’. The rating agency has simultaneously placed the ratings on Rating Watch Negative (RWN). Data from Bloomberg showed that total debt of Future Retail stood at Rs 3,841 crore as on December 2019.
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In a short while from now, at 9 AM, will be sharing a video message for the people of India. Do watch, PM Narendra Modi tweeted.
Prime Minister Narendra Modi to make his first video address shortly, amid 21-day nationwide lockdown. "At 9 AM tomorrow morning, I will share a small video message with my fellow Indians," the prime minister tweeted.
The unprecedented nationwide lockdown that shut businesses, suspended flights and stopped all modes of transport will cost the Indian economy almost USD 4.64 billion every day and the entire 21-day lockdown will result in a GDP loss of almost USD 98 billion, Acuite Ratings & Research Ltd said on Thursday. The rapid spread of Covid-19 has not only disrupted the global economy but also triggered a partial shutdown in many parts of India from early March and an almost complete shutdown from March 25.
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Prime Minister Narendra Modi to share a video message at 9 am today, addressing the nation to control the spread of the coronavirus (COVID-19) pandemic.
Asian markets edged higher on Friday as US stock rallied after crude oil prices notched their biggest one-day surge on record. Australia’s benchmark was up 1.5% in early trade. Hong Kong futures were negative.
ADB expects India's economic growth to slow down to 4 per cent in the financial year 2020-21, PTI reported.
With crude oil prices plummeting to record lows, the profit of private domestic crude oil producers from production sharing contract (PSC) fields have dwindled to as low as 20 cents per barrel, analysts said. When crude ruled at $60 per barrel in January, these producers used to make a profit of around $6/barrel.
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Trends on SGX Nifty indicate a gap-down start for the Sensex and Nifty with a 69 points or 0.83 per cent loss. The Nifty futures were trading at 8,191 on the Singaporean Exchange.