Share Market Highlights: Sensex ends 60 pts higher in a choppy trade; RIL, Infosys, HDFC Bank among top gainers

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Updated:Apr 20, 2020 5:13:51 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Out of 30 Sensex stocks, 9 shares settled in green with Sun Pharma as the top gainer with a growth of nearly 4 per cent, followed by HDFC Bank, Infosys, NTPC and HCL Tech

Share Market Today, Share Market LiveNifty PSU Bank index advanced 4.23 per cent led by gains in Central Bank, UCO Bank, J&K Bank and Indian Bank

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian share market traded in a narrow range on Monday with BSE Sensex gaining 60 points to end the session at 31,648. The broader Nifty 50 index, however, settled flat to negative at 9,266. Out of 30 Sensex stocks, 9 shares settled in green with Sun Pharma as the top gainer with a growth of nearly 4 per cent, followed by HDFC Bank, Infosys, NTPC and HCL Tech. On the flip side, Axis Bank was the top laggard with a decline of over 5.5 per cent. ITC, Maruti Suzuki, ICICI Bank and IndusInd Bank were among other losers on the pack. Most of the sectoral indices finished trade in negative territory. The Nifty Metal index was down 3.20 per cent dragged by Hindalco Industries, JSW Steel, NMDC and Vedanta. On the other hand, Nifty PSU Bank index advanced 4.23 per cent led by gains in Central Bank, UCO Bank, J&K Bank and Indian Bank.

Expecting a major global recession due to the coronavirus pandemic, the World Bank on Friday said that its estimates suggest a much deeper economic downturn than the 2007-09 Great Recession. World Bank President David Malpass said while the tragic impacts of the COVID-19 pandemic are being felt globally, this crisis will likely hit the poorest and most vulnerable countries and people the hardest.

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Highlights

    15:15 (IST)20 Apr 2020
    Buying opportunity for investors as Sensex, Nifty off 34% from record highs; 3 stocks set to rise up to 26%

    Indian share market witnessed a massive sell-off in March owing to economic fallout due to the fast-spreading of the novel coronavirus pandemic. In just a span of three months, BSE Sensex and Nifty 50 index have fallen around 65 per cent from their respective all-time record high levels to touch 52-week lows last month. Amid global equity rout and panic selling in March, foreign portfolio investors (FPIs) had withdrawn over a record Rs 1 lakh crore from the Indian markets.

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    15:05 (IST)20 Apr 2020
    Need for all-round package to put life back into MSMEs, suggests FICCI; lists measures for govt, RBI

    Micro, small and medium enterprises (MSMEs), which have a share of around 29 per cent in India’s GDP, have been bruised and battered by the Coronavirus outbreak and the subsequent lockdown. To provide a thrust to the MSME sector, trade association FICCI in its latest round of Business Confidence Survey suggested the government few measures to boost liquidity and employment.

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    14:14 (IST)20 Apr 2020
    Buy HDFC Bank, Target Price Rs 1,200: Motilal Oswal

    HDFCB's business growth remains robust despite economic activity getting impacted due to the COVID-19 outbreak. Corporate loan growth remains strong and is driving overall loan growth while retail loan growth remains soft. Although the RBI moratorium supports asset quality, credit cost is expected to stay elevated while provisioning buffers should limit the overall impact on earnings. A strong liability franchise would support margins while higher liquidity levels would enable the bank to ride the current crisis and gain further market share. We, thus, estimate loan book/PAT to deliver CAGR of 16%/17% over FY20-22E. Management succession remains a big event to watch for. Maintain Buy with PT of INR1,200 (3.0x Sep’21E ABV).

    14:10 (IST)20 Apr 2020
    Business disruptions bring group structures into focus, will fast track merger be the way out?

    What is going around us is quite unfortunate, where no one is spared. In the current COVID-19 crisis India Inc. is likely to experience significant disruption to their business operations and will have to look at rationalising their group structure and consolidation of businesses. Merger and amalgamation have traditionally been the devices available with corporates to achieve legal consolidation of businesses.

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    13:43 (IST)20 Apr 2020
    If Nifty sustains today's levels we might gain further: Ajay Bodke

    Today's high of 9390 is the exact 38% retracement of the fall from 12400 to 7500. If this level is breached and sustained, I think we are headed to 50% retracement of 9968. If 9390 fails to hold expect Nifty moving lower to 8674, 8455 levels.

    13:26 (IST)20 Apr 2020
    FMCG supplies may soon get in order; firms look to ramp up production in last week of lockdown

    Supplies of daily essentials may soon get in order as FMCG firms look to ramp up production to 60-65% in the last week of lockdown which starts on 27th April. The makers of daily use items such as atta, biscuits, shampoo etc also expect an easing of supply chains and operational challenges starting this week.

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    12:56 (IST)20 Apr 2020
    Oil prices at 21-year low

    WTI crude prices plunged near 21% to a session low of $14.47 a barrel, a level not seen since March of 1999 amid demand and storage concerns. Global oil consumption is estimated to have fallen by 30% amid stay-at-home restrictions and business closures due to the coronavirus outbreak. Investors also worry that storage facilities in the US, especially at Cushing, Oklahoma which is the main delivery point in the US for oil, will run out of capacity says Jigar Trivedi, Fundamental Research Analyst - Commodities, Anand Rathi Shares and Stock Brokers.

    12:42 (IST)20 Apr 2020
    Biocon share price hits new 52-week high yet again

    With the pharmaceutical sector having a decent run, aided by the surge in demand for medicines and APIs, Biocon on Monday surged 1.2% to hit a new 52-week high of Rs 367 per share. The previous 52-week high for the stock came in on Friday.

    12:27 (IST)20 Apr 2020
    TLTRO 2.0 directed towards NBFCs/MFIs, yet liquidity pressure inevitable: Emkay Global

    The RBI has announced a TLTRO 2.0 window (Rs0.5tn) specifically for easing out liquidity issues for NBFCs. Further, 50% of the total amount availed under TLTRO 2.0 would be going to small- and mid-sized NBFCs and MFIs. However, there has been no clarity from the RBI over the availability of the term-loan moratorium from banks to NBFCs. The total credit outstanding from banks to NBFCs stands at Rs7.3tn, which is ~8.3% of overall bank credit and ~25% of total NBFC borrowings (Rs30.3tn) as on December’19. (Refer to Exhibit 1 for detailed liability bifurcation of each NBFC). If we assume a liquidity crunch during the moratorium period of three months, the overall requirement for NBFCs would be close to Rs2tn assuming average maturity of five years. Thus, we do acknowledge the RBI’s relatively proactive stance, however, the liquidity available through the LTRO window is negligible compared to the actual liquidity crunch in the system.

    12:17 (IST)20 Apr 2020
    Coronavirus brings business competitors on one table; CCI allows firms to work together

    Business competitors operating under cut-throat competition are set to come on one table to unite and work in order to fight coronavirus-led disruption. Competition Commission of India (CCI) has allowed the companies to make agreements with each other to collectively work in increasing efficiency of production, supply, distribution, storage, acquisition, etc. CCI said that by sharing data on stock levels, timings of operation, distribution network, infrastructure, transport logistics, R & D, production etc, the firms can ensure continued supply and fair distribution of products.

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    12:07 (IST)20 Apr 2020
    Cash loses, digital transactions win: More people go online to transfer money in March: RBI data

    Digital transactions have gained new heights in the month of March as India announced a lockdown due to coronavirus. The total value of Real Time Gross Settlement (RTGS) transactions also witnessed a spike by 34% during the same time, according to the latest Reserve Bank of India (RBI) data, The Indian Express reported.

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    11:46 (IST)20 Apr 2020
    HDFC Bank share price jumps 4%, profits sailing strong but story could change, should you buy or sell

    India’s biggest private-sector lender, HDFC Bank, reported a 15.5% jump in profits, on-year basis as net interest income for the January-March quarter surged to Rs 15,204 crore. With HDFC Bank’s fortified balance sheet, it is safe to say that the lender is relatively positioned just fine to deal with the storm that is about to hit the financial sector. HDFC Bank has not only seen a strong 21.3% growth in advances but deposits have jumped 24.3% along with a reduction in gross non-performing assets (NPA) to 1.26%. With such strong numbers, brokerages are not shying away from putting a ‘buy’ call on the scrip. 

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    11:35 (IST)20 Apr 2020
    Gold prices fall over Rs 1,200 per 10 grams in less than a week as yellow metal sees profit booking

    Gold prices eased Rs 1,220 per 10 grams from its record high level hit last week on the signs of the containment of coronavirus spread which damped the demand for the safe-haven asset, says Jigar Trivedi, Fundamental Research Analyst – Commodities, Anand Rathi Shares and Stock Brokers. Gold June futures were down 0.40 per cent or Rs 183 to Rs 45,552 per 10 grams. Silver May futures were trading flat at Rs 42,807 per kg on Multi Commodity Exchange (MCX).

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    11:07 (IST)20 Apr 2020
    Sensex, Nifty gain in trade, up nearly 0.75%

    BSE Sensex was trading at 31,828.68, up 240 points or 0.76 per cent while Nifty 50 index was ruling 65 points or 0.70 per cent higher at 9,331.80.

    Check live Sensex, Nifty levels

    10:52 (IST)20 Apr 2020
    We maintain 'buy' rating on HDFC Bank: Asutosh Mishra, Ashika Institutional Equity Research Desk

    HDFC Bank has a capital cushion of 16.8% at CET1 level, which is a big positive in the current scenario. We all questioned when HDFC Bank raised a disproportionately large chunk of capital in mid-2018, but now timing looks perfect. We expect HDFC Bank to remain one of the best among all the lending business. Thus, we continue to maintain BUY rating on the bank with target price of Rs1,083, says Asutosh Mishra, Head of Research, Ashika Institutional Equity Research Desk.

    10:44 (IST)20 Apr 2020
    Sensex, Nifty edge higher as govt eases lockdown restrictions from today; key factors from trade

    The headline indices BSE Sensex and Nifty 50 rose in the opening trade on Monday lifted by buying in index heavyweights HDFC Bank, HDFC, Infosys, Kotak Mahindra Bank and TCS. From today, select factories and construction work are set to resume in a phased manner which also boosted investor sentiment. The 30-share Sensex advanced 94 points or 0.30 per cent to 31, 684, while the broader Nifty 50 index was ruling near 9,300-mark, up 22 points or 0.23 per cent. Broader market indices were outperforming the equity benchmarks. S&P BSE MidCap index rose 0.85 per cent or 100 points to 11,925, while S&P BSE Smallcap gained 1.12 per cent or 121 points to trade at 10,922.

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    10:34 (IST)20 Apr 2020
    Will RBI package lift share markets? Here's how long stocks will take to recover: YES AMC interview

    With the Reserve Bank of India announcing another set of measures, and share markets steadily climbing up from recent lows, investors are puzzled if the Indian equity market is past the gloom, or is there more pain to come.

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    10:18 (IST)20 Apr 2020
    Measures announced for NBFCs will reduce default risk: JM Financial

    RBI announced significant liquidity measures, asset quality reclassification for loans availing moratorium and restructuring of CRE exposures for NBFCs. These measures in our view will reduce default risk and thus lead to correction in the current high spreads. Further, lenders to the real estate sector will benefit from the extension of date for commencement for commercial operations (DCCO) by an additional 1-yr without the account being classified as “restructured”. If these measures fail to reduce risk aversion on a sustainable basis, we believe RBI would have to resort to direct lending to NBFCs via a SPV structure similar to the approach used in 2008. Our top picks are Bajaj Finance and HDFC.

    10:00 (IST)20 Apr 2020
    Should 9100 give away, a reversal move aiming 8600 will be in play: Geojit Financial Services

    So far, multiple attempts to stage large breakout rallies have been unsuccessful, despite floating around the 9000 vicinity for several days now. This suggests exhaustion, putting into doubt, the previously anticipated move towards 10300, until there is a direct rise above 9470. Should 9100 give away, a reversal move aiming 8600 will be in play.

    09:56 (IST)20 Apr 2020
    Infosys share price gains 3% ahead of Q4 results

    Infosys share price gained 3.30 per cent to Rs 650.05 apiece on BSE in Monday's volatile trade as IT bellwether is scheduled to announce its earnings for the quarter ended March 31.

    Check live prices: Infosys

    09:52 (IST)20 Apr 2020
    Crude oil prices at record low, down 12% on MCX

    Today crude oil prices are trading on a negative note again. It is almost 12% down on MCX and touched a lifetime low level of 1,264 levels. This is due to lower demand for energy products from the world. We expect crude oil prices may trade lower today. It has support at 1,100 levels and resistance at 1,500 levels, says Anuj Gupta, Deputy VP- Commodities & Currencies Research, Angel Broking Ltd.

    09:50 (IST)20 Apr 2020
    Safe-haven demand may fade for gold: Anuj Gupta, Angel Broking Ltd

    Today gold open on a negative note on the back of optimism comes from the major economics to give some relaxation from lockdown. Industrial activity may resume. The safe-haven demand may fade for gold. For intraday perspective, we expect gold and silver may trade on a negative note. Gold has strong support at 45200 – 45100 levels and resistance at 45800 to 45900 levels. Silver has support at 42500 – 42300 levels and resistance at 43400 – 43500 levels, says Anuj Gupta, Deputy VP- Commodities & Currencies Research, Angel Broking Ltd.

    09:47 (IST)20 Apr 2020
    MCX gold slips on signs of containment of coronavirus spread

    MCX gold slipped on Monday morning as signs that the virus spread was being contained, damped demand for the haven asset. The cases and fatalities slowed in New York, possibly the high point is a matter of past. Moreover, UK Spain and Italy also reported fewer cases. Hence sentiment may stay weak today, says Jigar Trivedi, Fundamental Research Analyst - Commodities, Anand Rathi Shares and Stock Brokers.

    09:44 (IST)20 Apr 2020
    Nifty is in short term bullish territory: Vishal Wagh

    Nifty is in short term bullish territory. Mid to long term trend is bearish only. But current corrective pullback may show another leg upside till 38.20% and 50% retracement of major fall from the top of 12430 to 7511. These levels are 9390 and 9970 respectively. the current up move will reverse and the major bearish trend will resume if Nifty sustains below 8820 for a couple of days on a closing basis. For the day Levels, support at 9100 and Resistance at 9390.Stocks that look good for the week are Equitas, LICHSGFIN, LT, Ramcocem, TVSMotors, Ujjivan & Cholafin.Stock which may face profit booking is Cadila

    09:43 (IST)20 Apr 2020
    IndiGo share price falls 5%

    IndiGo share price fell 5.09 per cent to Rs 1,014.75 apiece on BSE in Monday's trade as Directorate General of Civil Aviation (DGCA) has directed all airlines to refrain from booking tickets as no decision has been taken to commence the operation of domestic, international flights from May 4, 2020.

    Check live prices: Interglobe Aviation

    09:37 (IST)20 Apr 2020
    Nifty sectoral indices trade mixed

    Nifty Bank index advanced 1.24 per cent led by gains in HDFC Bank, Kotak Mahindra Bank and Federal Bank. On the flip side, Nifty Pharma index was down over 1 per cent weighed by Piramal Enterprises, Cadila Healthcare and Biocon.

    09:37 (IST)20 Apr 2020
    HDFC Bank top Sensex gainer, up 5%

    HDFC Bank was the top gainer with a growth of 5% in opening deals on Monday after the bank’s board shortlisted the Aditya Puri’s successor. Infosys, Kotak Mahindra Bank, HDFC and Tech Mahindra were among other gainers on the index. While Axis Bank was the top Sensex loser, down nearly 3 per cent, followed by ONGC, Power Grid, IndusInd Bank and NTPC.

    Check live prices: HDFC Bank

    09:35 (IST)20 Apr 2020
    Sensex, Nifty open higher on Monday

    The 30-share Sensex was trading 163 points or 0.52 per cent higher at 31,752, while the broader Nifty 50 index was ruling at 9,301, up 35 points or 0.37 per cent.

    Check live Sensex, Nifty levels

    09:09 (IST)20 Apr 2020
    Infosys shares to remain in focus

    The IT firm Infosys share price will remain in foucs today. Company is scheduled to announce Q4 numbers on Monday. Last week two IT majors Wipro and TCS reported their earnings for the quarter ended March 31.

    09:06 (IST)20 Apr 2020
    Equitas, LIC Housing Finance TVS Motors among stocks that look good

    Nifty is in short term bullish territory. Mid to long term trend is bearish only. But current corrective pullback may show another leg upside till 38.20% and 50% retracement of major fall from the top of 12430 to 7511. These levels are 9390 and 9970 respectively. the current up move will reverse and the major bearish trend will resume if Nifty sustains below 8820 for a couple of days on a closing basis. For the day Levels, support at 9100 and Resistance at 9390. Stocks that look good for the week are Equitas, LICHSGFIN, LT, Ramcocem, TVSMotors, Ujjivan & Cholafin. Stocks which may face profit booking is Cadila Healthcare -- Vishal Wagh, Research Head, Bonanza Portfolio Ltd.

    08:56 (IST)20 Apr 2020
    Fitch Solutions cuts forecast for India's FY21 real GDP growth to 1.8%

    Fitch Solutions cuts forecast for India's FY21 real GDP growth to 1.8% from 4.6%, CNBC TV18 reported.

    08:42 (IST)20 Apr 2020
    US stocks surge as Trump plans to reopen economy

    US stocks surged on Friday as President Donald Trump planned to reopen the coronavirus-battered economy. The Dow Jones Industrial Average rose 704.81 points, or 2.99%, to 24,242.49, the S&P 500 gained 75.01 points, or 2.68%, to 2,874.56 and the Nasdaq Composite added 117.78 points, or 1.38%, to 8,650.14.

    08:41 (IST)20 Apr 2020
    Asian shares start on a cautious note

    Asian shares on Monday started on a cautious note on Monday. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.2% in slow early trade. Japan’s Nikkei fell 1.3% and South Korea 0.1%.

    08:34 (IST)20 Apr 2020
    Traders should limit their leveraged positions, focus on stock selection: Ajit Mishra, Religare Broking Ltd

    Going forward, we expect Nifty to test 9450 levels soon and these two sectors viz. banking and auto could play pivot role. Meanwhile, announcements from the earnings front will continue to trigger volatile swings on the stock-specific front. Traders should limit their leveraged positions and focus more on stock selection, says Ajit Mishra, VP - Research, Religare Broking Ltd

    08:30 (IST)20 Apr 2020
    Govt rushes in to check takeover of Indian companies after China scoops up HDFC stake; tweaks FDI rules

    The government has rushed in to amend foreign direct investment (FDI) policy to monitor and check investments into Indian companies from neighbouring countries after it was revealed that China’s central bank has raised equity stake in HDFC above 1 per cent. The Department of Promotion of Industry and Internal Trade (DPIIT) has amended the FDI policy to curb the opportunistic takeovers and acquisitions of Indian companies amid ongoing coronavirus (COVID-19) pandemic.

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    08:27 (IST)20 Apr 2020
    Motilal Oswal recommends to 'buy' HDFC Bank stock, sees 32% upside

    HDFC Bank (HDFCB) reported healthy business growth in 4QFY20, led by continued strength in its corporate portfolio while retail growth was soft. We have fine-tuned our other income estimates factoring in the current trends, which has resulted in 2% cut each in our FY21E/FY22E earnings. Maintain Buy -  Motilal Oswal

    08:22 (IST)20 Apr 2020
    Covid-19, earnings to dictate market tone this week

    The trend in Covid-19 cases, as well as corporate earnings, will set the tone for equity markets this week, analysts said. Participants are also hopeful of more stimulus measures from the government to prop up growth amid the coronavirus crisis, they added. Economic activities are set to resume in a graded manner from April 20, which could also lift market sentiment.

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    08:19 (IST)20 Apr 2020
    Sensex, Nifty on Friday

    S&P BSE Sensex jumped 986 points or 3.22 per cent to close the session at 31,589. While the broader Nifty 50 index settled at 9,266, up 275 points or 3.05 per cent.

    Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
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