MARKET WRAP: Indices pare gains; Sensex up 693 pts, Nifty settles at 7,801
All that happened in the markets today
 "Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters")
Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters
A day after registering its biggest one-day fall ever, the domestic equity market ended with mild gains on Tuesday amid positive global cues. Gains, however, were capped after Finance Minister Nirmala Sitharaman said that an economic package was still underway even as she announced a slew of other measures, mainly with regard to regulatory compliance matters.
Earlier, investor sentiment got a boost after the US Federal Reserve on Monday rolled out an array of measures to support the US economy, including purchases of corporate bonds.
The S&P BSE Sensex today ended at 26,674, up 693 points or 2.67 per cent while NSE's Nifty50 closed the session at 7,801, up 191 points or 2.51 per cent. During the day, the 30-share Sensex hit a high and low of 27,462.87 and 25,638.90, respectively. IT major Infosys ended as the biggest gainer on the index with the gain of around 13 per cent after the company said the US Securities and Exchange Commission (SEC) has concluded the investigation in the whistleblower allegations made last year, and that it does not anticipate any further action by the regulator. READ MORE
On the NSE, all sectoral indices but Nifty Realty ended in the green. Nifty IT topped the list with over 6 per cent gains to 11,865 levels, followed by Nifty FMCG and NIfty Pharma. Nifty Realty index, on the other hand, slipped 2 per cent to 170.65 levels.
India VIX, the volatility index, cooled off around 14 per cent to 81.94 levels.
In the broader market, the Nifty Midcap 100 index ended with over 1 per cent gains at 11,110 while the Nifty SmallCap index slipped around 1 per cent to 3,340 levels.
India VIX, the volatility index, cooled off around 14 per cent to 81.94 levels.
In the broader market, the Nifty Midcap 100 index ended with over 1 per cent gains at 11,110 while the Nifty SmallCap index slipped around 1 per cent to 3,340 levels.
Global Markets
Asian stocks rallied on Tuesday as the US Federal Reserve’s promise of bottomless dollar funding eased painful strains in financial markets, even if it could not soften the immediate economic hit of the coronavirus.
European shares also attempted another rebound after slumping in the previous session.
In the commodity market, oil prices rose on hopes that the United States will reach a deal soon on a $2 trillion coronavirus aid package which could blunt the economic impact of the outbreak and in turn support oil demand.
(With inputs from Reuters)
4:20 PM
MARKET COMMENT | Vinod Nair, Head of Research at Geojit Financial Services
Market seemed to breathe a sigh of relief today after the crash yesterday, in sync with the global markets. In addition to the huge relief package by the US Fed yesterday, there were also expectations of a fiscal package by the government. Market came off its highs after no significant announcements by the FM and the fact that the economic package was still in development. European and US manufacturing activity data due later, which may indicate the impact of Covid-19 on economies, could influence markets tomorrow.
4:03 PM
Sectoral gainers and losers on the NSE
4:03 PM
MARKET AT CLOSE | Top gainers and losers on the S&P BSE Sensex
3:42 PM
CLOSING BELL
The S&P BSE Sensex gained 693 points or 2.67 per cent to end at 26,674 while NSE's Nifty50 settled at 7,801, up 191 points or 2.51 per cent.
3:30 PM
ALERT :: European markets trade higher
3:27 PM
ALERT :: US Dow Futures locked in upper circuit
3:26 PM
Rupee check
Source: Bloomberg
3:24 PM
'End of coronavirus pandemic is near', says Nobel laureate Michael Levitt
In his view, the fast-spreading disease is likely to come to a halt, but gradually. Levitt, whose specialty is not in epidemiology, cited the slowing rate of increase in the number of deaths in China to support his hypothesis.
Levitt said that just like China, the United States too will get through the worst of the coronavirus outbreak sooner than many specialists anticipate, the Los Angeles Times reported on Monday. READ MORE
3:15 PM
NEWS ALERT | Sebi, RBI and govt closely monitoring the stock market volatility: FM
3:14 PM
COMMENT :: MS Mani, Partner, Deloitte India on FM's announcements
The extension of GST return filing timelines together with the deferment of e-invoicing and new returns announced earlier would allow businesses to focus on resumption of business processes once normalcy resumes in future. The waiver of interest, late fees and penalties for SME’s would enable them to focus on reviving their businesses once things are back to normal
3:11 PM
MARKET ALERT :: Sensex erases gains partially
3:10 PM
NEWS ALERT | PM is closely monitoring the economic situation: FM Sitharaman
3:03 PM
NEWS ALERT | Debit card holders, who withdraw cash, from any ATM can do it for free of charge for 3 months
>> Will reduce bank charges for digital trade transactions for all trade finance consumers
3:01 PM
NEWS ALERT | SIP issued for import of aqua-culture extended for 3 months: FM
>> Delay of arrival of imports will be overlook
Alert: SIP is Sanitary Import Permit
Alert: SIP is Sanitary Import Permit
2:56 PM
NEWS ALERT | Threshold limit for default raised from Rs 1 lakh to Rs 1 crore under IBC to protect MSMEs: FM Sitharaman
>> May consider suspension of Section 7,9 and 10 of IBC for six months if virus-related uncertainties prevail beyond April.
Topics : Markets MARKET WRAP
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First Published: Mar 24 2020 | 7:42 AM IST
