MARKET WRAP: Sensex slips 536 pts, Nifty ends at 9,154; financials decline

All that happened in the markets today.

9:03 AM

Market at Pre-open

9:01 AM

Stocks to watch: Ashok Leyland, Axis Bank, Mindtree, Bharti Infratel, M&M

Ashok Leyland: Hinduja Group flagship Ashok Leyland Ltd has acquired 15,796,406 shares of Rs 10 each constituting 3.36 per cent of the equity of its subsidiary Hinduja Leyland Finance Ltd for Rs 187.97 crore. The acquisition is part of the 6.99 per cent acquisition approved by the Board at the meeting held on March 21, 2020.

 

Future Retail: S&P Global Ratings on Wednesday lowered its preliminary long-term issuer credit rating on Future Retail and the preliminary long-term issue rating on the company’s $500-million senior secured notes to ‘CCC-’ from ‘B-’. READ MORE

8:59 AM

Franklin MF shuts 6 debt schemes over redemption pressure, liquidity crunch

According to industry sources, Franklin Templeton MF had over Rs 3,000 crore of borrowing.

 

“In the current environment, it has been difficult to generate liquidity, especially for credit papers, which are low on the credit curve,” said Sanjay Sapre, president at Franklin Templeton MF. READ MORE

8:53 AM

Commodity outlook and recommendation by Tradebulls Sec

Gold spot price is above $1,700 and a close below $1,670 could put downward pressure till $1,640. In MCX, we would advice to liquidate long position only below 45,000. Sell off on 21st April was due to the fact that there may have been a lot of margin calls out there. READ MORE

8:50 AM

RSI indicator hints at positive momentum in Nifty; stay long: Nilesh Jain

BUY NIFTY IN THE RANGE 9,240-9,260 | TARGET: 9,450 | STOP LOSS: 9,100

 

Nifty is making a higher top and higher bottom formation on the daily chart and is also taking the support of its rising trend line. The momentum indicator RSI is also moving higher and is, currently, at 51 levels which hints of some positive momentum to continue. The volatility India (VIX) has fallen below 40 levels, which is giving comforts to the bulls. Based on the above rationale, we advise remaining on the long side as long as Nifty is respecting its rising trend line. READ MORE

8:48 AM

Bull Spread strategy on Manappuram Finance by HDFC Securities

Rationale:

 

-- Long build up is seen in the Manappuram Finance Futures where we have seen 11 per cent (Prov) rise in the Open Interest with price moving up by 8 per cent.

 

-- The stock price has broken out from the downward slopping trendline on the daily line chart adjoining the close of April 9 and 20 April. READ MORE

8:40 AM

Bulk deals on NSE as on Thursday

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8:38 AM

Bulk deals on BSE as on Thursday

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8:36 AM

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

8:33 AM

Rupee check

Source: Bloomberg

8:31 AM

Oil prices extend rebound on output cuts

>> Oil prices rose on Friday, gaining further ground as some producers like Kuwait said they would move to cut output swiftly to try to counter the evaporation in global demand for fuels caused by the coronavirus pandemic.

 

>> Brent crude was up 60 cents, or 2.8%, at $21.93, having climbed 5% on Thursday. U.S. oil CLc1 gained 66 cents, or 4%, at $17.16 a barrel, after surging 20% in the previous session.

(Via Reuters)

8:26 AM

BREAKING NEWS :: Franklin MF to hold conference call at 12 pm: TV reports

8:24 AM

SGX Nifty drops 100 pts

>> At 8:23 am, the index was at 9,200.00 levels, down 96.75 points or 1.04%

8:22 AM

Asian markets begin with a red tick

Source: Reuters

8:20 AM

Wall Street check :: S&P 500 slips after report on coronavirus drug trial

Source: Reuters