Indian equity markets staged a smart recovery from morning lows on Friday, lifted by across-the-board buying.
ONGC (up 13%), IT stocks like HCL Tech and TCS (both up 11%), and Hindustan Unilever (up 8%) lifted the Sensexup 2,090 points to 30,380 levels. HDFC Bank also recovered 10% from day's low in the afternoon session. However, the index pared some of the gains in the final hour of the session and was hovering around 29,620 levels, up 1,309 points. The Nifty50 index also shot up to 8,790 levels but climbed off the highs to trade around 8,640 levels, up 370 points.
The Nifty sectoral indices were trading mixed. Nifty IT index, up over 8 per cent, gained the most. Besides, Nifty FMCG index was up 5 per cent and Nifty Metal index 4 per cent. Nifty Bank index recovered over 1,000 off intra-day lows.
In broader markets, the S&P BSE MidCap was up 561 points, or 5.25 per cent, and the S&P BSE SmallCap traded 450 points, or 4.64 per cent, higher.
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02:10 PM
Ashoka Buildcon arm executes concession pact with NHAI for road project
"Ashoka Banwara Bettadahalli Road Pvt Ltd (SPV) has executed a concession agreement with National Highways Authority of India (NHAI) on March 19, 2020, for the project viz. four laning of Tumkur-Shivamogga section...in the state of Karnataka, on hybrid annuity mode under Bharatmala Priyojana (Package - III)," Ashoka Buildcon said in a filing to the BSE. READ MORE
02:09 PM
MARKET CHECK | Sensex pares gains
02:08 PM
Recovery from intra-day lows in BSE500 stocks
COMPANY DAY'S LOW(RS) LATEST(RS) RISE(%)
NAVNEET EDUCAT. 49.00 60.10 22.65
SECURITY & INTEL 337.25 401.55 19.07
FINOLEX CABLES 180.00 211.35 17.42
CONTAINER CORPN. 289.65 336.55 16.19
GUJ.ST.PETRONET 156.80 181.40 15.69Click here for the full list
02:07 PM
NEWS ALERT | Maharashtra CM says non-essential workplaces will be shut till March 31
02:01 PM
Market regulator's default benchmark rates leave rating agencies in a lurch
For AAA-rated papers, the market regulator has laid down probability of default benchmark at zero for one-year and two-year periods. For the three-year period, a tolerance level of 1 per cent is allowed, while default benchmark is kept at zero. READ MORE
01:55 PM
Muthoot Fin: Gold financiers take hard knock; stay put for now, say experts
Despite pressures mounting on the yellow metal, analysts believe Muthoot and Manappuram Finance are in a good space and will not see any impact on their balance sheets.
While marginal fall in gold prices may not impact companies if adequate LTV cushion is maintained, Kajal Gandhi, an analyst tracking the stocks at ICICI Direct, cautions that growth may partially get impacted and same collateral may fetch lower value, if gold price continues its downtrend. READ MORE
01:52 PM
STOCK ALERT | Quess Corp, Future Retail, Shankara Building Products, DHFL, Vakrangee and Future Consumer locked in lower circuit in an otherwise firm market
01:52 PM
Adani Ports raises Rs 125 crore through non-convertible debentures
"The company has raised Rs 125 crore today by allotment of 1,250 rated, listed, secured, redeemable, non-convertible debentures (NCDs) of the face value of Rs 10,00,000 each on private placement basis," Adani Ports and Special Economic Zone (APSEZ) said in a filing to the BSE. The said NCDs will be listed on the wholesale debt market segment of the BSE Ltd, the filing. READ MORE
investment,saving, money, retirement, rupee
01:45 PM
NPA norms may be eased, tax deferment likely in coronavirus healing touch
As the Indian economy reels from the impact of the coronavirus pandemic, the Narendra Modi government is drawing up a relief package for industry. The relaxation of asset-classification norms by banks, thus allowing companies to delay the repayment of loans, and tax holidays for the worst-hit sectors like aviation and hospitality are expected to be part of the package, Business Standard has learnt. READ MORE
01:42 PM
MARKET UPDATE:: Sensex reclaims 30,000 level
ONGC (up 13%), IT stocks like HCL Tech and TCS (both up 11%), and Hindustan Unilever (up 8%) lifted the Sensexup 2,090 points to 30,380 levels. HDFC Bank also recovered 10% from day's low in the afternoon session. However, the index pared some of the gains in the final hour of the session and was hovering around 29,620 levels, up 1,309 points. The Nifty50 index also shot up to 8,790 levels but climbed off the highs to trade around 8,640 levels, up 370 points.
The Nifty sectoral indices were trading mixed. Nifty IT index, up over 8 per cent, gained the most. Besides, Nifty FMCG index was up 5 per cent and Nifty Metal index 4 per cent. Nifty Bank index recovered over 1,000 off intra-day lows.
In broader markets, the S&P BSE MidCap was up 561 points, or 5.25 per cent, and the S&P BSE SmallCap traded 450 points, or 4.64 per cent, higher.
CATCH ALL THE LIVE UPDATES
Auto Refresh
02:10 PM
Ashoka Buildcon arm executes concession pact with NHAI for road project
"Ashoka Banwara Bettadahalli Road Pvt Ltd (SPV) has executed a concession agreement with National Highways Authority of India (NHAI) on March 19, 2020, for the project viz. four laning of Tumkur-Shivamogga section...in the state of Karnataka, on hybrid annuity mode under Bharatmala Priyojana (Package - III)," Ashoka Buildcon said in a filing to the BSE. READ MORE
02:09 PM
MARKET CHECK | Sensex pares gains
02:08 PM
Recovery from intra-day lows in BSE500 stocks
COMPANY DAY'S LOW(RS) LATEST(RS) RISE(%)
NAVNEET EDUCAT. 49.00 60.10 22.65
SECURITY & INTEL 337.25 401.55 19.07
FINOLEX CABLES 180.00 211.35 17.42
CONTAINER CORPN. 289.65 336.55 16.19
GUJ.ST.PETRONET 156.80 181.40 15.69Click here for the full list
02:07 PM
NEWS ALERT | Maharashtra CM says non-essential workplaces will be shut till March 31
02:01 PM
Market regulator's default benchmark rates leave rating agencies in a lurch
For AAA-rated papers, the market regulator has laid down probability of default benchmark at zero for one-year and two-year periods. For the three-year period, a tolerance level of 1 per cent is allowed, while default benchmark is kept at zero. READ MORE
01:55 PM
Muthoot Fin: Gold financiers take hard knock; stay put for now, say experts
Despite pressures mounting on the yellow metal, analysts believe Muthoot and Manappuram Finance are in a good space and will not see any impact on their balance sheets.
While marginal fall in gold prices may not impact companies if adequate LTV cushion is maintained, Kajal Gandhi, an analyst tracking the stocks at ICICI Direct, cautions that growth may partially get impacted and same collateral may fetch lower value, if gold price continues its downtrend. READ MORE
01:52 PM
STOCK ALERT | Quess Corp, Future Retail, Shankara Building Products, DHFL, Vakrangee and Future Consumer locked in lower circuit in an otherwise firm market
01:52 PM
Adani Ports raises Rs 125 crore through non-convertible debentures
"The company has raised Rs 125 crore today by allotment of 1,250 rated, listed, secured, redeemable, non-convertible debentures (NCDs) of the face value of Rs 10,00,000 each on private placement basis," Adani Ports and Special Economic Zone (APSEZ) said in a filing to the BSE. The said NCDs will be listed on the wholesale debt market segment of the BSE Ltd, the filing. READ MORE
investment,saving, money, retirement, rupee
01:45 PM
NPA norms may be eased, tax deferment likely in coronavirus healing touch
As the Indian economy reels from the impact of the coronavirus pandemic, the Narendra Modi government is drawing up a relief package for industry. The relaxation of asset-classification norms by banks, thus allowing companies to delay the repayment of loans, and tax holidays for the worst-hit sectors like aviation and hospitality are expected to be part of the package, Business Standard has learnt. READ MORE
01:42 PM
MARKET UPDATE:: Sensex reclaims 30,000 level
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