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Monday, December 23, 2024 | 07:46 PM ISTEN Hindi

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Financials lead in Sensex's 522-pt rally; Nifty ends 153 pts up at 9,979

All that happened in the markets today

Image SI Reporter New Delhi
markets

NSE's Nifty ended at 9,979, up 153 points or 1.56 per cent.

9:17 AM

FIRST TRADE

9:16 AM

FIRST TRADE

9:14 AM

Moody's downgrade: Expect bouts of correction; sell-off in markets unlikely

The downgrade came after market hours, so one wonders if this might lead to a sell-off on Indian bourses on Tuesday, after a stupendous four-day rally taking the Nifty closer to the 10,000 level. I don’t think Moody’s downgrade will have a major effect on markets, as the new rating is on a par with the S&P’s and Fitch ratings of India at BBB-. However, the outlook labelled as “negative” could sway the sentiment in the short term. READ MORE
Ambareesh Baliga, Independent Market Analyst

9:10 AM

Covid-19 Update

9:08 AM

May Auto Sales | Bajaj Auto's domestic CV sales plunge 97% YoY

9:05 AM

Top gainers and losers on S&P BSE Sensex at Pre-open

9:04 AM

Market at Pre-open

9:03 AM

Market at Pre-open

8:59 AM

Moody's rating downgrade unlikely to rattle markets, say experts

But there can be some kneejerk reaction in the spot markets, which the Reserve Bank of India (RBI) can take care of. “It was expected that Moody’s would align back India’s rating with the other two rating agencies (Fitch and S&P). India continues to remain investment grade, and this downgrade should not materially impact the markets,” said Harihar Krishnamurthy, head of treasury at First Rand Bank. READ MORE

8:57 AM

Stocks to watch: RIL, IndiGo, Britannia, Hero Moto, Wipro, Coal India, NCC

Earnings today: A total of 18 companies, including the likes of Britannia, Indigo, and Motherson Sumi, are scheduled to announce their results today which will induce individual stock reactions.
 
RIL: Reliance Industries’ Rs 53,125-crore rights issue has garnered fully subscription, data provided by stock exchanges on Monday showed. The 422.6-million share offering had attracted bids for 460.5 million shares. The rights issue closes on June 3. READ MORE

8:55 AM

BROKERAGE VIEW :: Motilal Oswal Financial Services on United Spirits

Maintains 'Neutral'; Target price: Rs 543

>> Outlook on earnings growth is weak for alcohol companies, leading to a significant slowdown in earnings growth (from >30% growth in the 5 years ending FY20).
Weak results have led to further EPS cuts of 6.4%/4.0% for FY21/FY22E. 

>> Impact of extremely sharp excise increases across states would only exacerbate the pressure on FY21 profitability. Further, we believe profitability is already sharply impacted by (a) the absence of any sales until 3rd May, and (b) absence of sales from on-trade channel (20-25% of sales), which is expected to last for a significantly large part of the year after the latest MHA guidelines.

>> Our DCF-based TP leads to an 8% downside to CMP (effective target multiple of 41x Mar’22E EPS).
8:48 AM

BROKERAGE VIEW :: Credit Suisse on United Spirits

Downgrades to 'Neutral'; Target price: Rs 615

>> Co faces severe challenges this fiscal due to Covid-19

>> Tax increase, hit to on-premise sale, slowdown outweighs long-term positives

>> Cut FY21/22 earnings by 13%/14%
8:42 AM

Bulk deals on NSE as on Monday

8:39 AM

Bulk deals on BSE as on Monday

8:33 AM

FII/FPI & DII trading activity on NSE, BSE and MSEI

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First Published: Jun 02 2020 | 7:33 AM IST