F&O Expiry: Sensex extends recovery, surges 1,411 pts; Nifty ends at 8,641

All that happened in markets today

12:35 PM

Media stocks rebound on low valuations; analysts expect gradual recovery

While the broader markets have also recovered, Karan Taurani of Elara Capital says valuations for the sector are attractive, and a downside from their current levels seems limited. He adds that valuations for some players are lower than the levels last seen during the 2008 financial crisis. Zee Entertainment, which has the highest weight in the index, has declined 50 per cent over the month, with PVR down 32 per cent over the same period. READ MORE

12:34 PM

MARKET CHECK | Top gainers on the BSE at this hour

12:28 PM

MARKET CHECK | ICICI Securities on Logistics sector

The managements remain cautiously optimistic and are actively monitoring the constantly changing environment. Although the auto sector continues to remain impacted (the biggest pie of 3pl segment), the companies are seeing greater opportunities in the e-commerce and consumption sector, leading to a favourable product mix and greater role of warehousing (amid required clarity and coordination on its inter-state unhindered movement). However, overall volumes moved remain low. We build in disruption for two months into our estimates. We believe that an efficient supply chain and movement of goods remains crucially important for the Government of India at this juncture. With greater clarity and communication between states, the logjam would be resolved. Technology backed organised players could, thus, be a beneficiary of the changed industry dynamics post the disruption.

12:26 PM

Future Retail, Indiabulls Real Estate, Shankara Building hit new lows

As many as 14 stocks from the S&P BSE500 index hit fresh all-time lows on Thursday in an otherwise firm market. The list included Future Retail, Indiabulls Real Estate, Just Dial, AU Small Finance Bank, Dish TV Network, Lakshmi Vilas Bank, Shankara Building Products and Varroc Engineering. Shares of Future Retail were locked in lower circuit for the 11th straight day after slipping 5 per cent to Rs 91.75 on the BSE on Thursday after the company announced that lenders who held non-convertible debentures (NCDs) through IDBI Trusteeship Services have invoked 42.2 million or 8 per cent of promoter pledged shares. READ MORE

12:25 PM

Hotel stocks trade higher ahead of FM's press conference

COMPANY NAME	LATEST	HIGH	LOW	CHG (rs)	CHG(%)	VALUE (rs CR)	VOLUME
INDIAN HOTELS	81.20	82.40	71.90	5.80	7.69	0.43	52951
MAHINDRA HOLIDAY	139.70	140.20	132.15	4.25	3.14	0.71	50685
LEMON TREE HOTEL	23.90	24.10	21.95	1.95	8.88	0.07	30487
ROYAL ORCH.HOTEL	43.30	43.30	37.55	5.05	13.20	0.03	7687
I T D C	124.70	126.65	117.00	3.60	2.97	0.06	4646

12:17 PM

Sensex reclaims 30,000-mark

12:14 PM

STOCK ALERT :: IndusInd Bank surges 45% to Rs 437 in the intra-day trade today

 >> Zooms 85% from Tuesday's low of Rs 236 on the BSE

12:11 PM

Top BSE500 gainers today

COMPANY	LATEST	PREV CLOSE	GAIN(%)
INDUSIND BANK	428.30	301.20	42.20
PIRAMAL ENTERP.	898.75	682.10	31.76
BANDHAN BANK	203.60	154.65	31.65
GATEWAY DISTR.	95.70	79.75	20.00
CAPLIN POINT LAB	244.60	203.85	19.99

12:08 PM

With 75% economy under lockdown, analysts see sharp fall in GDP

“Our initial estimates suggest that around 75 per cent of the economy will be shutdown, resulting in a direct output loss of nearly 4.5 per cent. We expect the central government to soon announce a stimulus package of around 0.7-1.1 per cent of gross domestic product (GDP). Along with the growth hit and poor tax collections, we expect the fiscal deficit for FY21 to balloon by over 1 per cent of GDP,” wrote Sonal Varma, managing director and chief India economist at Nomura in a co-authored report with Aurodeep Nandi. READ MORE

11:54 AM

MARKET VOICE :: Ambareesh Baliga

The most important along with #StimulusPackage @nsitharaman and @FinMinIndia needs to announce a 3 month #lockdown for credit rating agencies - their proactiveness may create more panic than solve issues

11:48 AM

MARKET ALERT :: Indices surge ahead of FM presser

>> FM likely to announce relief measures

11:43 AM

Investing strategies: Is it a good time buy stocks now for the long term?

A recent analysis by Jefferies, a global research and brokerage house, said 18 per cent of the stocks that comprise the Nifty 100 and have long trading histories recently traded below their global financial crisis (GFC) valuation. The market meltdown also saw 84 per cent stocks go below their five-year and 78 per cent below their 10-year average valuations. The Jefferies report said that within the Nifty 100 several state-owned companies such as State Bank of India (SBI), GAIL, ONGC, NTPC, Bank of Baroda (BoB), Punjab National Bank (PNB) and Power Finance Corporation slipped below GFC lows. Adani Ports, ITC, Tata Motors, Shriram Transport Finance, DLF and Zee Enterprises among private companies tanked below the GFC lows. READ MORE

11:42 AM

NEWS ALERT | Finance Minister to hold press conference at 1 PM: CNBC TV18

-- Relief measures likely to be announced by FM today

11:35 AM

MARKET UPDATE:: Sensex off highs

11:32 AM

BROKERAGE RADAR | Emkay Global Financial Services on Metals & Mining

We expect all major steel, non-ferrous plants to be shut/operate at significantly reduced levels of utilization in the next 7-10 days and expect Q1FY21 to be a record-low quarter in terms of both top-line and EBITDA/PAT on the back of exceptionally weak demand. While steel and allied activities, including mining, have been covered under ESMA (Essential Services Maintenance Act), the non-ferrous industry has largely been out of the purview. Those companies, having continuous processes like smelters and potlines, are trying to impress upon the govt to have these factories also be given the same status as that of the steel industry.

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