Stimulus for MSME, NBFCs fails to lift sentiment; Sensex tanks 886 pts

All that happened in the markets today

SI Reporter New Delhi

Britain votes to leave EU, Cameron quits, markets rocked

2:18 PM

MARKET AT DAY'S LOW

2:16 PM

Why markets fell around 2% today despite liquidity boost for NBFCs, MSMEs

Equity market came under heavy selling pressure on Thursday even after the Union Finance Minister Nirmala Sitharaman Wednesday announced a set of stimulus measures of nearly Rs 5.94 trillion to support micro, small, and medium enterprises (MSMEs), non-banking financial companies (NBFCs), and power distribution companies.

The S&P BSE Sensex tanked as much as 703 points or over 2 per cent during the day while NSE's Nifty slipped nearly 200 points. On the sectoral front, barring FMCG and pharma, all the indices on the NSE were trading in the negative territory. READ MORE

2:06 PM

Rupee Closing

>> Rupee closes 9 paise weaker at 75.56 per US dollar vs Wednesday's close of 75.47/$

2:04 PM

STOCK ALERT :: Reliance Industries slumps nearly 9% this week

>> With today's fall, the stock has decline 8.6% this week.

1:55 PM

Global trade fell 3% in Q1 of 2020 due to Covid-19; may slide further: UN

The United Nations Conference on Trade and Development (UNCTAD) said in a report that the drop in global trade was accompanied by marked decreases in commodity prices, which have fallen precipitously since December last year.

The report is a product of cooperation between the international statistics community and national statistical offices and systems around the world, coordinated by UNCTAD. READ MORE

1:50 PM

MARKET UPDATE:: Sensex at day's low

1:45 PM

India's window of opportunity for attracting companies is closing

Prime Minister Narendra Modi's emphasis on local manufacturing and supply chain may be a response to the Covid-19 crisis but much before the disease-struck China, India wanted to emulate the Asian manufacturing giant’s industrial prowess.

In January 2018, when a trade war broke out between the US and China, the NDA government saw in it an opportunity to push its Make in India programme. READ MORE

1:35 PM

Fall from intra-day high today in BSE500 stocks

COMPANY	DAY'S HIGH(RS)	DAY'S LOW(RS)	LATEST(RS)	FALL(%)
CHALET HOTELS	145.00	127.00	128.70	-11.24
SHRIRAM TRANS.	720.00	654.05	659.70	-8.38
SWAN ENERGY	109.10	97.50	100.80	-7.61
QUESS CORP	188.25	170.50	174.00	-7.57
HATHWAY CABLE	26.65	23.95	24.70	-7.32

Click here for the full list

1:30 PM

Govt releases truncated April WPI inflation data on 'limited transactions'

The government on Thursday released truncated data for April wholesale price-based inflation saying there was limited transaction of products in the market due to the outbreak of Covid-19. As per the data released by the Commerce and Industry Ministry, wholesale price index (WPI) deflation in primary articles was 0.79 per cent in April, as against inflation of 3.72 per cent in March. READ MORE

1:25 PM

Europe trades lower in early trends

1:10 PM

Lupin gains 3% as Vizag API facility receives EIR from USFDA

The pharmaceutical company today announced the receipt of the EIR from the United States Food and Drug Administration (USFDA) after closure of the inspection for its Vizag (Vishakhapatnam), India facility. The inspection for the API facility was conducted by the USFDA between January 13, 2020 and January 17, 2020, it said. READ MORE

1:04 PM

UN forecasts Covid-19 to shrink world economy by 3.2%, sharpest since 1930s

In January, before Covid-19 became a pandemic, the UN had forecast a modest acceleration in growth of 2.5 per cent in 2020.

But UN chief economist Elliott Harris told a news conference launching the report that the global economic outlook has changed drastically since then, with the pandemic's death toll climbing toward 300,000. READ MORE

12:59 PM

SECTOR WATCH:: Pharma stocks trade higher in a weak market

COMPANY	LATEST(rs)	CHG(%)
CADILA HEALTH.	339.45	4.53
GLENMARK PHARMA.	350.20	3.96
BIOCON	339.30	0.59
SUN PHARMA.INDS.	461.00	1.90
CIPLA	570.60	0.07

» More

12:54 PM

Credit guarantee will help to restore the supply chain: Venu Srininvasan

According to him, the large credit guarantee will be a great step to restore the supply chain, augment liquidity and help MSMEs revive the business, which was heavily impacted by the shutdown.

“We welcome the comprehensive and highly progressive measures announced by the Finance Minister on Wednesday, injecting much-needed liquidity for non-banking finance companies (NBFCs) and MSMEs (micro, small and medium enterprises)," said Srinivasan. READ MORE