Localised lockdowns weigh; Sensex declines 244 points amid volatility

The broader markets, however, managed to duck the bear onslaught and supported the overall market breadth

3:41 PM

Sensex Heatmap at Close

>> Dr Reddy's Labs, Bajaj Group stocks steal the show

>> IT, HDFC twins, Ultratech Cement top laggards

3:35 PM

CLOSING BELL

The BSE barometer Sensex dropped over 1,000 points from day's high to hit a low of 47,438 in the intra-day trade as investors dumped IT, financials, and heavyweights like Reliance Industries, HUL, and Ultratech Cement.

 

The index, however, staged a mild recovery to eventually close at 47,706 levels, down 244 points or 0.5 per cent, with Ultratech Cement, HCL Tech, HDFC, Tech M, HUL, ITC, and HDFC Bank leading the list of losers. All these stocks declined between 1 per cent and 5 per cent.

 

On the NSE, the 50-share index hit an intra-day low of 14,207 before settling at 14,296 levels, down 63 points or 0.44 per cent. About 27 of the 50 constituents ended the day in the red. Bucking the trend were players like Dr Reddy's Labs, Bajaj twins, HDFC Life, Bajaj Auto, M&M, Maruti Suzuki, and Tata Consumer Products, rising up to 3.5 per cent.

3:28 PM

Localised lockdowns already hitting economic activities: Report

With the pandemic caseload remaining over 2.5 lakh for the second day, a report has warned of the grim economic scenario as with even limited restrictions on people's movement and some businesses, power consumption and e-way GST bill collections are already down.

 

The report has also called for speeding up the vaccination drive that of late has been on the decline on a weekly basis. READ MORE

3:22 PM

Macrotech Developers trades above issue price; up 22% from debut day's low

MDL had made a weak debut on the bourses on Monday as the stock listed at Rs 439, a 10 per cent discount from its issue price of Rs 486 per share. It had ended at Rs 463.15, 5 per cent lower against its issue price, after hitting an intra-day low of Rs 421.15. With today’s gain, the stock has recovered 22 per cent from its Monday’s low on the BSE. READ MORE

3:09 PM

MARKET CHECK :: Sensex witnesses sharp recovery

2:57 PM

Oil prices rise to one-month high on weak dollar, fall in US inventory

Oil prices rose to over one-month highs on Tuesday as a weaker U.S. dollar supported commodities and on expectations that crude inventories fell in the United States, the world's biggest oil user, though rising coronavirus cases in Asia capped gains. Brent crude futures for June delivery had risen by 66 cents, or 1%, to $67.71 a barrel as at 0642 GMT after earlier hitting a session high of $67.97. READ MORE

2:47 PM

NEWS ALERT | Jharkhand govt announces complete lockdown: TV reports

>> Complete lockdown in the state from April 22-27.

2:40 PM

NEWS ALERT :: Maharashtra govt announces stricter Covid curbs till May 1

2:39 PM

J&J seeks DCGI nod for clinical trial of single-dose Covid vaccine in India

Global healthcare major Johnson & Johnson on Tuesday said it has sought an approval from the India's drug regulator to conduct a bridging clinical trial of its single-dose Covid-19 vaccine in the country. The US Food and Drug Administration (USFDA) had in February approved Johnson & Johnson's Covid-19 vaccine that works with just one dose for emergency use. READ MORE

2:24 PM

Pharma index hits record high as govt launches phase 3 of Covid vaccination

Individually, Cipla, Gland Pharma, JB Chemicals and Pharmaceuticals, Max Healthcare, Neuland Laboratories and Apollo Hospital Enterprises hit their respective record highs today. Menawhile, Sun Pharmaceutical Industries, Cadila Healthcare, Glenmark Pharmaceuticals, Panacea Biotech and RPG Lifesicenes are among those that hit 52-week highs in the intra-day trade today. READ MORE

2:14 PM

Unsure whether vaccines are effective against Indian Covid-19 variant: UK

British Health Secretary Matt Hancock has said he cannot give any assurances that the current vaccines the UK has against Covid-19 will be as effective against the new variant of the virus that originated in India.

 

Replying to a question asked by India-origin Labour MP Tanmanjeet Singh Dhesi in Parliament to the Secretary of State for Health and Social Care on Monday, the UK government confirmed they do not know whether the UK's vaccination programme will be effective against the Indian Covid-19 variant. READ MORE

2:02 PM

Covid second wave unlikely to dent FY22 earnings, say analysts

Despite the sharp rise in Covid cases and the ensuing lockdown imposed across key cities across India that can dent the economic momentum, analysts remain optimistic on the earnings trajectory of India Inc and have not yet downgraded / cut projections for fiscal 2021-22 (FY22). “Corporate earnings are yet to come back to their pre-Covid levels in realistic terms even though they may look optically higher due to the low base effect of the last year. READ MORE

1:50 PM

BUZZING STOCK | Macrotech Developers surges nearly 11%, hits 52-week high of Rs 514

1:41 PM

Everest Kanto Cylinder zooms 44% in 2 days; stock hits over 10-year high

Shares of Everest Kanto Cylinder hit an over 10-year high of Rs 110.70, soaring 20 per cent on the BSE in the intra-day trade on Tuesday. The stock of one of India's leading manufacturer of seamless steel gas cylinders was trading higher for the fifth straight day, having rallied 44 per cent alone in the past two trading days, on expectation of strong earnings growth. It was quoting at its highest level since July 2010. READ MORE

 

1:34 PM

STOCK ALERT | LIC increases stake in Marico by 0.45% in Q4

>> LIC held 5.29% stake in Marico at the end of March quarter vs 4.84% held at the end of December quarter