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

All that happened in the markets today

4:05 PM

MARKET COMMENT | Vinod Nair, Head of Research at Geojit Financial Services

"Markets traded volatile with benchmark indices closing negative. Losses were led by financials. Markets are trading uncertain regarding the impact of lockdown measures and its effect on earnings. Investors are advised to trade cautiously tracking the global markets and stock specific earnings commentary."

3:54 PM

Sectoral gainers and losers on the NSE

3:48 PM

MARKET AT CLOSE | Losers and gainers on the S&P BSE Sensex

3:39 PM

CLOSING BELL

The S&P BSE Sensex declined 262 points or 0.83 per cent to settle at 31,453.51 while NSE's Nifty ended at 9,205.60, down 88 points or 0.95 per cent.

3:28 PM

Nifty PSU Bank index hits lowest level since July 2006; SBI at 52-week low

Among individual stocks, State Bank of India (SBI) was the top loser, hitting a 52-week low of Rs 168.80, tanking 6 per cent in the intra-day trade. Bank of Baroda (BoB) hit a multi-year low of Rs 44, down 4 per cent. Bank of India, Punjab National Bank (PNB), Union Bank of India and Canara Bank were down in the range of 2 per cent to 3 per cent. The PSU banks trade at a P/B of 0.8x, below their historical average of 1.2x. READ MORE  

3:19 PM

NEWS ALERT | Dabur says production has been resumed at all manufacturing locations

3:15 PM

BUZZING STOCK | Tata Motors slips nearly 4%

3:07 PM

MARKET ALERT :: Sensex extends decline; slumps over 250 pts

3:02 PM

Aarti Industries jumps 9%, hits new high; stock rallies 31% in 8 days

Shares of Aarti Industries hit an all-time high of Rs 1,192, up 9 per cent on the BSE on Tuesday on the back of an over two-fold jump in trading volumes. The specialty chemicals firm's stock surpassed its previous high of Rs 1,137, touched on April 29, 2020. In the past eight trading days, Aarti Industries' stock price has surged 31 per cent from the level of Rs 911 on April 22, after the company announced that during January-March quarter (Q4FY20), it commissioned and commercialised the initial phase of its upcoming unit/ project at Dahej SEZ and had also exported few shipments to the global customers. READ MORE

2:59 PM

MARKET UPDATE | SBI hits 52-week low

2:56 PM

Struggling before lockdown, copper manufacturers stare at meltdown

Well before the first Covid-19 case was detected in Kerala on January 30, the 968,500-tonne Indian re­fined copper industry came under significant pressure caused by shrinking requisition of the red metal by most user segments.

 

The aluminium-to-co­pper group Hindalco Industries says in the third quarter (October to December) of the 2019-20 financial year, domestic copper demand was up just 2 per cent to 193,000 tonnes from 189,000 tonnes in the same period of the previous year. READ MORE

2:49 PM

Sector watch :: Bank stocks under pressure; SBI slips over 3%

2:45 PM

Gold prices slip as easing lockdown restrictions boost risk sentiment

A late Wall Street rally helped Asian stocks trade higher after tech shares and oil rose on easing coronavirus restrictions and prospects of an economic recovery, overcoming concerns about renewed Sino-US trade tensions.

 

Italy and the United States were among a slew of countries tentatively easing coronavirus lockdowns on Monday to revive economies as global deaths surpassed a quarter of a million. READ MORE

2:35 PM

MARKET ALERT :: Sensex slips into the red

2:31 PM

BofA Securities pegs PSBs recap requirement at Rs 52,990 cr - Rs 113,550 cr

Public sector banks (PSBs) will need between Rs 52,990 crore to Rs 113,550 crore ($7 billion – $15 billion) in recapitalisation going ahead, which can be funded by the government despite the limited fiscal room, suggests a report from BofA Securities. The brokerage suggests the government issues recapitalisation bonds and/or utilise Reserve Bank of India’s (RBI’s) revaluation reserves. READ MORE