MARKET WRAP: Sensex recovers 1,574 pts from day's low to end at 28,288

All that happened in markets today

1:08 PM

BROKERAGE RADAR | Emkay Global Fin Services on steel sector

We remain cautious on the steel sector. We also note that though the steel mills we spoke to have taken stringent measures to prevent any outbreak, but given the high population concentration at plants, we believe the probability of an outbreak in any plant is high.

1:07 PM

BROKERAGE RADAR | Edelweiss Securities on telecom sector

We believe further consolidation in the telecom market will reduce competitive intensity, benefitting Bharti and Reliance Jio (RJIO) by granting them better pricing power and much higher revenues. The government has proposed deferred payment option, but SC’s standpoint on the same will be crucial. Although there is merit in the deferred payment plan considering the NPV of the AGR liability remains intact and consequences of disallowance on the sector would be staggering, we are uncertain on SC’s stance on this. In case of consolidation of telecom operators, Bharti Infratel will also have a second order impact on its tenancies. We maintain positive stance on Bharti (BUY) and RJIO due to their ability to fund the liabilities and gain market share.

1:00 PM

Expert Tweets

12:51 PM

EXPERT COMMENT | Blind advice can hurt investors: Shyam Sekhar

12:46 PM

Gold rises as ECB measures to limit coronavirus impact lift investors' mood

FUNDAMENTALS

 

* Spot gold rose 0.4% to $1,491.40 per ounce by 0040 GMT, having risen 1% earlier in the session.

 

* The metal fell about 3% on Wednesday along with other precious metals, as investors sold across assets to hoard cash.

 

* U.S. gold futures rose 1.2% to $1,495.80 per ounce. READ MORE

12:36 PM

MARKET UPDATE:: Broader indices underperform; India VIX jumps 14%

12:31 PM

MARKET COMMENT :: Vinay Panit, Head - Institutional Equities, IndiaNivesh

Nifty slipping below 8,000 is virtually indicating a very bad FY21. While most investors and analysts were writing off Q4FY20, the current correction seems to be writing off FY21. Most sectors will have to bear the brunt of the global slowdown and impact due to coronavirus. Crude correcting sharply to sub $25 is going to impact refiners and crude derivative user industries due to inventory losses for most players

12:26 PM

NEWS ALERT | Companies can declare Q4 earnings by June: Sebi, reports CNBC TV18

12:21 PM

Rupee crash, Covid-19 to make India Inc's overseas debt repayments costlier

Bankers said overseas debt worth billions of dollars of top corporate houses is due to be refinanced or will be repaid in the March and subsequent quarters. "Whatever option the company chooses between refinancing and repayment, it would end up paying more due to the 4 per cent fall in rupee's value versus the dollar since January," a banker said. READ MORE

12:12 PM

Expert Tweets :: Ambareesh Baliga

12:04 PM

No point in banning short sale or stock exchange shutdown

We are going through a rough phase. Markets are witnessing an unprecedented sell-off owing to growing fears of economic slowdown due to coronavirus (Covid-19) pandemic. The Nifty has already corrected over 30 per cent in less than 15 days and may slide further. Unless there is some clarity over the virus outbreak and the magnitude of its impact on the economy - both globally as well as domestically - forecasting could be hazardous. READ MORE

11:55 AM

Sell stocks and go! Difficult to predict when the market carnage will end

The coronavirus health scare caught the world off-guard and has completely roiled equity markets over the past few weeks. The precipitous fall in global equities since the first case came to light in late 2019 has already ended the bull-run in many stock indexes over the globe, including in Dow Jones Industrial Average (DJIA), which saw its 11-year bull-run punctured. Indian markets, too, succumbed and entered bear terrain, which is typically defined as a fall of 20 per cent or more in an index or a stock from the top. READ MORE

11:46 AM

Currency check | Rupee hits 75/$-mark

11:44 AM

NEWS ALERT | Telcos receive fresh notification from DoT on SC order: CNBC TV18

-- Notification says no self-assessment of AGR dues to be considered

11:39 AM

Market check | Sensex stages recovery, now down 450 pts