MARKET WRAP: Sensex falls 561 pts ahead of F&O expiry; financials top drag

All that happened in the markets today

2:29 PM

India-China issue :: Who stands to gain or lose if ties sour

(Source: Motilal Oswal Financial Services)

2:23 PM

MARKET UPDATE:: NTPC falls over 2.7%

2:18 PM

Corporate bond market starts warming up to NBFCs easing liquidity concerns

India’s top-rated private and government-owned companies may be enjoying historic low rates in markets for their short-term money, but the situation has not improved much for lower rated firms, particularly from the financial sector. However, sporadic issuances of bonds have started.

 

Admittedly, the liquidity scare faced by the non-bank financial companies (NBFC) have eased somewhat, but even there, well rated companies are the beneficiaries, who have started issuing debt papers in larger numbers. READ MORE

2:07 PM

Rupee Closing

Rupee ends weaker at 75.73 per US dollar vs Tuesday's close of 75.64/$

2:01 PM

MARKET CHECK :: Sensex at day's low, down 267 pts

1:56 PM

Hero MotoCorp hits over seven-month high; stock surges 56% in 3 months

The stock of the two-wheeler company was trading at its highest level since November 18, 2019. In the past three months, the stock has outperformed the market by surging 56 per cent, as compared to 34 per cent rise in the S&P BSE Sensex.

 

The demand recovery would be led by rural markets (superior cash flows via farm, MNREGA activities). Hence, the relative preference for rural-facing auto segments, two-wheelers stays and HMCL’s high rural exposure (>50 per cent demand) tilts near term beneficiary scales in its favour. READ MORE

1:51 PM

ALERT :: Dow Jones Futures slip over 250 pts

1:43 PM

EXPERT COMMENT:: Rahul Gupta, Head of Research- Currency, Emkay Global on Rupee vs US dollar

"The USD/INR spot has dropped below 76 as globally traders are turning a blind eye to the second wave of coronavirus. The risk appetite is turning positive as economies are opening up giving rise to better than expected US and Eurozone economic data. However, the risk of the Indo-China border still prevails, in our opinion, it won’t escalate but will continue to grapple the market sentiments. The strong support lies around 75.50 unless that breaks the USD/INR spot will continue to trade towards 76.”

1:36 PM

JM Financial completes Rs 400 mn investment in Isthara Parks

JM Financial Private Equity (the “Fund”) has announced that it has completed its proposed investment of Rs 400 mn in Coimbatore-based coliving operator, Isthara Parks Private Limited (“Isthara” or the “Company”). The investment was completed in two tranches between July 2019 and June 2020. Commenting on the investment Mr. Darius Pandole, Managing Director & CEO, PE & Equity AIFs said, “We did extensive research on the co-living sector and identified Isthara as a potential leader in the space. The Isthara management brings to the table deep domain knowledge in hospitality, IT & real estate and proven execution capability. The Fund focuses on backing strong entrepreneurs with disruptive ideas combined with on-ground operational excellence.”

1:31 PM

NIFTY GAINERS:: Tata Motors gains over 3.5%

1:25 PM

Rollover Analysis :: June F&O expiry

>> The Nifty June expiry rollover is at 42.08% on Tuesday compared to 42.01% on same day of previous expiry.

>> The Banknifty June expiry rollover is at 30.38% on Tuesday compared to 22.55% on same day of previous expiry.

>> The Market wide June expiry rollover is at 57.72% on Tuesday as compared to 51.87% on same day of previous expiry. 

>> Fertilisers, Metals, Oil_Gas, Pharma and Banking sectors witnessed higher rollovers compared to same day of previous expiry. Realty, Textile, Infrastructure, Technology and Power sectors witnessed lower rollovers compared to same day of previous expiry.

(Source: Nirmal Bang Institutional Equities)
 

1:14 PM

Escorts surges 8%, hits fresh all-time high

1:09 PM

MARCH QUARTER RESULTS | GAIL reports net profit worth Rs 3,018.2 cr vs Rs 1,120 cr YoY

>> Revenue at Rs 17,753 crore

>> EBITDA at Rs 2,475.3 crore, margin at 13.9%

1:03 PM

More inquiries for unlisted shares of UTI MF as IPO nod comes through

Interest in the stock has picked up in anticipation of the IPO but there is an air of caution because of the current market conditions, said dealers in the unlisted space. A Kolkata-based dealer said the share price has headed north. The hike in percentage terms, though, has been in single digits as the markets have been volatile. Firms have been cautious about proceeding with their IPOs due to the pandemic and resulting market volatility. READ MORE

12:50 PM

EXPERT SPEAK:: Shankar Sharma