MARKETS: Sensex erases gains, ends 262 pts lower; banks, metals, FMCG drag

All that happened in the markets today

9:45 AM

BROKERAGE VIEW :: Jefferies on Marico

Marico's 4QFY20 was expectedly weak on topline but margin beat (lower RM & A&P) drove a positive earning surprise. Current utilisation at c.75% signals a gradual stabilisation. Marico now expects copra price deflation which improves FY21 margin visibility. Management highlighted its preference for share gains in no uncertain terms. We slightly raise FY21 estimate and retain Buy - stock offers attractive risk-reward and remains in our top picks

9:34 AM

JSPL adds over 2.5% on over 100% MoM jump in exports

9:32 AM

RBL Bank gains 3%

>>  The bank's board is scheduled to meet on May 7 to to consider and approve the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2020. The board will also consider and approve issue of debt securities on private placement basis.

9:30 AM

Liquor stocks trade in the green despite 70% tax on alcohol by Delhi govt

9:28 AM

Colgate Palmolive flat in a firm market

9:27 AM

ITC trades 1% higher

>> This is despite the company warning some workers of disciplinary action and pay cuts for missing work during the coronavirus epidemic, leading to a showdown with at least two unions, according to letters from both sides seen by Reuters.

9:24 AM

Result Impact | Marico jumps 4%

9:21 AM

Sectoral trends on NSE at open

9:19 AM

Sensex Heatmap at Open | Banks, NBFCs take lead

9:18 AM

FIRST TRADE | Nifty tops 9,400

9:17 AM

FIRST TRADE | Sensex advances over 1%

9:15 AM

Covid-19 Update

9:13 AM

NEWS ALERT | Asian Paints resumes partial production at units in green, orange zones: BSE filing

>> Says, the Company has partially resumed operations at some of its manufacturing locations, warehouses, and offices wherein lockdown restrictions have been eased. 

9:08 AM

NEWS ALERT | JSPL's exports jump 109% MoM in April

>> The company exported 248,000 MT of steel & related products, which is a growth of 109% (m-o-m). Export contributed to 74% of its total sales volume. 

>>  JSPL India reported 5% growth YoY in the production of steel & granulated pig iron to 550,000 MT during April 2020. The Group has recorded 655,000 MT of consolidated steel production in April 2020.

>> India’s largest Blast Furnace at JSPL-Angul has recorded the highest ever production of 298,000 MT of hot metal during April 2020.

(Via BSE filing)

9:04 AM

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