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

All that happened in markets today

11:27 AM

BROKERAGE RADAR | ICICI Securities on Hotel sector

Considering the reduction in revenue and profitability estimates, a reduction in target price is also eminent. On the other hand, the recent broad-based corrections in hotel stocks majorly factors in this weak scenario. At the same time there is also an uncertainty as to how long this issue is going to prevail extent of its damage to the economy. Hence, we prefer only companies with strong balance sheet and better margin profile. Accordingly, our preferred pick in this space would be EIH which is a domestic play with low leverage; while we downgrade, TajGVK and Lemon tree hotels (Higher debt) to HOLD rating.

11:23 AM

Ability of smaller banks to withstand coronavirus shock key for investors

Krishnan ASV, lead analyst at SBICAP Securities, believes: “Large banks with high capitalisation and a strong deposit franchise have greater ability to absorb the economic growth shock, which investors are looking for in light of the current situation.” In fact, a moratorium-like episode at a private sector bank is often followed by a temporary crisis of confidence for depositors of other private banks, which demands a slew of confidence-restoring measures by policymakers and other stakeholders, says Krishnan, adding that banks collectively investing in YES Bank was one such measure. READ MORE

11:23 AM

Rupee near day's high

(Source: Bloomberg)

11:16 AM

F&O Expiry :: Rollover data

>> The Nifty March rollover stands at 49.6% on Wednesday compared to 61.37% on same day of previous expiry. The Market wide March rollover stands at 72.44% on Wednesday as compared to 66.64% on same day of previous expiry.
 

>> The rollover cost in the March series stands at 0.53 on Wednesday compared to 0.03 on same day of previous expiry. The Nifty Wednesday rollover is lower than its three months average of 53.49% and lower than its six months average of 55.54% as on Wednesday. 

>> The market wide rollover is higher than its three months average of 68.08% and higher than its six months average of 70.05%.The Option data of March series shows high Call OI at 8,500 strike price followed by 8,800 and highest Put OI concentration is seen at 8,100 followed by 8,000.

(Source: Axis Securities)

11:11 AM

Oil's 60% crash due to coronavirus outbreak is tip of an iceberg

Having collapsed by about 60 per cent this year, Brent and West Texas Intermediate crude have stabilised at around $25 a barrel, but the price rout is far deeper for actual cargoes, which are changing hands at large and widening discounts to the global benchmarks. The discounts mean that in the physical market, some crude streams are trading at $15, $10 and even as little as $8 a barrel. READ MORE

11:00 AM

Rollover analysis by ICICI Securities

10:51 AM

NEWS ALERT :: SpiceJet to operate special flight from Delhi to Jodhpur for Indians evacuated from Iran

>> SpiceJet will operate a special flight between Delhi and Jodhpur on 29th March, 2020 to facilitate transportation of 142 Indian passengers evacuated from COVID-19 hit Iran to a Government quarantine facility in the city.

10:46 AM

Lockdown, tightening of regulatory framework hurt market volumes

Market players said lockdowns and recent tightening of the regulatory framework by the Securities and Exchange Board of India (Sebi) were to be blamed. Part of the reason for the drop in trading turnover was a sharp fall in the price of underlying securities. However, market players said even going by the number of contracts traded, volumes were 20 per cent lower than usual. READ MORE

10:39 AM

CORONAVIRUS UPDATE :: Total confirmed cases in India reach 649

>> Active cases: 593

>> Recovered: 42

>> Deaths: 13

10:36 AM

IndusInd Bank snaps 8-day losing run, surges 30% to post biggest 1-day gain

Shares of IndusInd Bank snapped their eight-day losing streak and surged 30 per cent to Rs 391.65 on the NSE on Thursday. This is the stock's biggest-ever one-day gain. Over 30.2 lakh shares had changed hand on the counter on the NSE and BSE so far. IndusInd Bank was the top gainer on the Nifty Private Bank index. The index itself was the top Nifty sectoral gainer, up 5.28 per cent, as compared to Nifty's 4 per cent up move at 9:58 AM. READ MORE

10:22 AM

MARKET ALERT :: Sensex surges over 1,500 pts as US Senate clears $ 2 trillion package

10:18 AM

Coronavirus crisis: US Senate passes $2-trn rescue deal to revive economy

The monster deal thrashed out between Republicans, Democrats and the White House includes cash payments to American taxpayers and several hundred billion dollars in grants and loans to small businesses and core industries. It also buttresses hospitals desperately in need of medical equipment and expands unemployment benefits. READ MORE

10:10 AM

What's consolidation in stock market and how it can help you spot breakouts

Indicators like volumes and technical instruments like Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) assist in the confirmation of a firm breakout. Key aspects of a consolidation phase Longer the consolidation period, the bigger is the movement on the breakout. READ MORE 

10:00 AM

MARKET CHECK:: Sensex extends gains, up 1,200 pts

9:56 AM

Nifty Private Bank index, up over 5 per cent, top sectoral gainer