MARKETS: Sensex zooms 917 pts, Nifty nears 12K; Titan rises 7%, ITC up 4%

All that happened in markets today

8:35 AM

DDT abolished: Nearly 60% high dividend yielding shares end in the red

Stocks that offer high dividend yields or with high cash levels failed to make positive strides despite the government abolishing 20 per cent dividend distribution tax (DDT). Business Standard analysed companies with high dividend yields, dividend payouts, and cash levels (of those which could be potential dividend payers). About 60 per cent of these stocks closed the day with losses on Monday, even as the benchmark indices ended in the green. The average fall in the 30 stocks (excluding ITC) was 1.2 per cent, as against a 0.34 per cent gain in the Sensex. READ MORE

8:27 AM

Bonds rally as govt keeps borrowing programme limited to Rs 7.1-trn

Bond yields fell 10 basis points as a reaction to measures taken by the government for opening up domestic bond markets to overseas investors, including the idea of inclusion of Indian bonds in global bond indices.

 

The yields on the 10-year bond fell to 6.50 per cent, from 6.60 per cent on Friday, as the markets were happy there won’t be any extra borrowing in this fiscal year, as the balance would be taken from small savings. READ MORE

8:23 AM

Post-Budget, growth option becomes more attractive for MF investors

Mutual fund investors, who have selected the growth option, can finally heave a sigh of relief after the Union Budget. With Finance Minister Nirmala Sitharaman deciding to move the tax incidence of dividend distribution tax (DDT) from companies to individuals, the liability for this category of investors would fall dramatically. READ MORE

8:18 AM

Budget 2020: Not a good time to bottom-fish HFC stocks, says fund manager

At a time when housing finance companies (HFCs) are already grappling with weak demand and weak asset quality, particularly on the developer loan book front, the recently concluded Union Budget seems to have delivered another blow to the sector.

 

The finance minister has introduced a new tax regime, which reduces the tax burden for individuals willing to let go tax benefits/exemptions. READ MORE

8:12 AM

NEWS ALERT | TCS bags order worth $1.5 bn from Walgreens Boots Alliance

>> To transform the latter's IT operating model over a period of 10 years

8:09 AM

Nifty outlook and top trading ideas by Jay Anand Thakkar of Anand Rathi

ESCORTS: BUY | TGT: Rs 920 | SL: Rs 809

 

The stock has provided a breakout from the falling channel, and, thereafter, has been forming higher tops and higher bottoms with a buy crossover in its momentum indicators at all degrees. READ MORE

8:07 AM

NEWS ALERT | IHS Markit Euro Zone manufacturing output at 48 in Jan: Reuters

8:03 AM

Bulk deals on BSE as on Monday

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8:00 AM

Bulk deals on NSE as on Monday

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7:58 AM

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

7:55 AM

Rupee Check

Source: Bloomberg

7:52 AM

Oil Check

>> Oil hit 13-month lows as the coronavirus throttled demand in the world’s biggest importer of fuel, Reuters reported.

>> At 7:51 am, Brent Crude Futures were at $54.73 per barrel-mark.

7:48 AM

SGX Nifty

>> At 7:47 am, the Singaporean Exchange for Nifty Futures were at 11,753, up 45.5 points or 0.39 per cent.

7:46 AM

Asian Market Check

Source: Reuters

7:43 AM

US Market Check

Source: Reuters