MARKET WRAP: Sensex slips 1,375 pts, financials hit; Nifty ends at 8,281

All that happened in markets today

11:35 AM

NEWS ALERT | SCI, CONCOR divestment likely pushed to H1FY21: TV reports

11:32 AM

Tata, Bajaj among 277 promoters that hiked stake in group firms in March

Analysts say the promoters are using this opportunity to buyback is a typical feature of a bear market that serves two basic purposes - one is to buy shares at an attractive price and the second is to instill confidence in the minds of shareholders that the promoters are still backing the company even in turbulent times. That apart, some promoters also believe cash could be put to better use through buybacks rather than being locked up in a fixed deposit or remain idle. READ MORE

11:20 AM

Tech view: Nifty may find support at 8,250-8,300 levels amid market fall

NIFTY 50: As the index failed to conquer 9,000 levels decisively, the resistance has shifted to the lower side. Besides, since 9,000 acts as the major resistance level, going forward 8,750 will be the next selling level. The immediate resistance comes in the range of 8,600 to 8,550 levels. On the other hand, 8,300 to 8,250 becomes the support range. The overall trend shows volatility that gets triggered on economic development.  READ MORE

11:08 AM

IndusInd Bank pares losses, turns green

11:04 AM

Future Group stocks tank, Future Retail hits 5% lower circuit for 13th day

Shares of Future Group stocks were trading deep in the red on Monday. While Future Supply Chain Solutions was down around 5 per cent at Rs 115.90 apiece on the BSE, Futures Retail was locked in the lower circuit band for the 13th straight day. The stock was frozen at Rs 82.85 apiece on the BSE, down 5 per cent. Future Enterprises, too, was trading with over half a per cent cut at Rs 9. Future Lifestyle hit a 5 per cent lower circuit of Rs 124.10. READ MORE

10:58 AM

Covid-19 crisis :: Imposing a financial emergency can be useful

On March 26, the Centre for Accountability and Systemic Change (CASC), a governance reform outfit, filed a petition with the Supreme Court, seeking that the Centre must declare a financial emergency in view of the country-wide lockdown imposed after the COVID-19 outbreak. READ MORE

10:55 AM

CORONAVIRUS UPDATE:: Total COVID-19 cases in India rises to 1071

10:46 AM

SECTOR WATCH:: Nifty Pharma index gains 2% in a weak market

10:44 AM

NEWS ALERT | Lupin receives EIR for its Inhalation Research Center from US FDA: BSE filing

>> Pharma major Lupin Limited (Lupin) today announced the receipt of the Establishment Inspection Report (EIR) from the U.S. FDA for its Inhalation Research Center located at Coral Springs, Florida. The facility was inspected by the U.S. FDA, between February 19, 2020 and February 26, 2020, on behalf of the U.K. MHRA for Lupin’s generic Fostair application to the U.K. MHRA.

10:36 AM

Coronavirus shutdown puts Rs 15-trillion debt at risk, to impact finances

According to an analysis by Business Standard, 201 non-financial listed companies are likely to face a sharp deterioration in their financial position in the first half of 2020-21 (FY21), making it tough for them to service their debt.

 

Some of the top indebted companies likely to face financial headwinds in the coming quarters include NTPC, PowerGrid, Tata Steel, Adani Power, JSW Steel, UPL, and Steel Authority of India. READ MORE

10:26 AM

Abbott India up 19% as parent firm gets US FDA nod for rapid COVID-19 test

Shares of Abbott India surged 19 per cent to hit a new high of Rs 16,869 on the BSE on Monday in an otherwise weak market on report that Abbott Laboratories, USA, the ulitmate holding company, has received the approval to launch 5-minute coronavirus (COVID-19) test for use almost anywhere. Abbott India is a subsidiary of Abbott Laboratories of USA. READ MORE

10:22 AM

FinMin, RBI meeting on Tuesday to decide first-half borrowing plan for FY21

Post meeting, the borrowing calendar for issuance of dated government securities and short term papers will be announced in the evening.

 

As per the Budget, the government plans to borrow Rs 5.36 lakh crore from the market in 2020-21, higher than the Rs 4.99 lakh crore estimated for the current financial year ending March 2020. READ MORE

10:16 AM

Westlife Development trades near 200-DEMA

10:10 AM

Road ahead for equity markets will be challenging: Exide Life CIO

Though the markets have gained from the recent low, boosted by US markets, a $2 trillion stimulus in the US, followed by the announcements from the Indian government and the Reserve Bank of India (RBI), we continue to remain cautious, as a sustainable up move could still be a few months away. This would depend upon a reduction in global cases, removal of travel restrictions and lifting of lockdowns in several of the cities/countries, apart from the nature of the measures by various Governments and central banks to restore the demand situation subsequently. READ MORE

9:59 AM

MARKET CHECK:: Sensex off opening lows