MARKETS: Sensex slips 552 pts on weak global cues, rise in Covid-19 cases

All that happened in the markets today

2:23 PM

Tyre stks in focus; JK Tyre, TVS Srichakra gain up to 10% in a weak market

Shares of tyre makers were trading higher in an otherwise weak market with JK Tyres, TVS Srichakra, Ceat and Apollo Tyres gaining up to 10 per cent on the BSE in the intra-day trade on Monday. At 01:46 pm, these stocks were up in the range of 2 per cent to 6 per cent, as compared to 2 per cent decline in the S&P BSE Sensex. However, MRF and Balkrishna Industries were trading flat, after gaining 3 per cent and 2 per cent, respectively, in the intra-day deals on the BSE. READ MORE 

2:20 PM

Rupee Closing

Rupee settles 19 paise lower at 76.04 against US dollar vs Friday's close of 75.85/$

2:12 PM

MARKET CHECK:: Top 5 losers on the BSE at this hour

1:59 PM

MARKET CHECK:: Top 5 gainers on the BSE at this hour

1:56 PM

STOCK ALERT :: SBI cracks over 3%, top loser on Nifty PSU Bank index

1:47 PM

In poor health already, banks come under grip of Covid-19 pandemic

Even his worst detractors can’t accuse State Bank of India Chairman Rajnish Kumar of being economical with optimism. So, when the head of the country’s largest bank says, “I have money, but there are no takers of the money,” the signal is loud and clear: India’s bank credit market is in the midst of one of its worst crisis. READ MORE

1:36 PM

Capital good stocks slip in trade; S&P BSE Capital Goods index down over 2%

1:31 PM

NEWS ALERT :: Received preliminary, non-binding letter of intent from Clix Capital Services, says Lakshmi Vilas Bank

>> The Bank has received pre-liminary, non-binding letter of intent (LoI) from Clix Capital Services Private Limited & Clix Finance India Private Limited dated June 12, 2020, which the Board of Directors of the Bank has considered for further processing in their meeting held today (15 June, 2020). 

>> Under the non-binding LOI, the proposed transaction is subject to completion of due diligence, which the Bank and the intending parties will be carrying out and will be subject to regulatory and other customary approvals. 

(Via BSE filing)

1:27 PM

Mutual funds rebalancing in May shows preference for low-beta stocks

Mutual funds (MFs) were among the major buyers in large share sales in companies, such as Hindustan Unilever, Bharti Airtel, and Kotak Mahindra Bank. All the three stocks featured in the most-bought list for May.

 

Besides these stocks, ICICI Bank, Power Grid, Dr Reddy’s, and Wipro were among the top buys for equity fund managers last month. ALSO READ: Coronavirus LIVE updates: Amit Shah calls all-party meeting on Monday On the other hand, index heavyweights Reliance Industries and HDFC Bank were the most-sold counters. READ MORE

1:16 PM

Europe opens lower

(Source: Reuters)

1:10 PM

Five key factors that dragged the equity market lower on Monday

Frontline Indian benchmarks - the S&P BSE Sensex and the Nifty50 - lost ground in trade on Monday, amid a broad-based selling. The fall is in line with their Asian peers, which also traded with deep cuts. Volatility index, India VIX, jumped around 9 per cent to 33.55 levels, indicating increased volatility.

 

The S&P BSE Sensex plunged as much as 775 points, or 2.29 per cent during the day, while NSE's Nifty50 lost over 200 points to trade around 9,755 levels at the time of writing of this report. READ MORE

1:04 PM

Jubilant Life hits 52-week high on heavy volumes, soars 46% in 11 days

Continuing their northward movement, shares of Jubilant Life Sciences, hit a 52-week high of Rs 646, up 8 per cent on the BSE on Monday in the intra-day trade on the back of heavy volumes. The stock of the pharmaceutical company surpassed its previous high of Rs 639, touched on January 23, 2020. At 12:06 pm, it was trading 7 per cent higher at Rs 636, as compared to a 2.3 per cent decline in the S&P BSE Sensex. READ MORE

1:00 PM

NEWS ALERT :: ICMR clarifies on delay in Covid-19 cases' peak

12:52 PM

China's May industrial output rises 4.4% as economy struggles to recover

China's industrial output expanded 4.4 per cent in May from a year earlier but the gain was less than expected, official data showed on Monday, suggesting the economy is still struggling to get back on track after the coronavirus crisis. Analysts polled by Reuters had expected growth to quicken slightly to 5.0 per cent from a year earlier as more businesses resumed production, following a rise of 3.9 per cent in April, the first expansion since the virus emerged from China late last year. READ MORE

12:46 PM

Ahead of Q4 nos | Here's what brokerages expect from Tata Motors' results

Tata Motors is all set to announce its March quarter results (Q4FY20) on Monday and analysts expect the company's revenue to decline over 25 per cent on a year-on-year basis, led by fall in overall volumes, while the loss for the quarter may come in at anything between Rs 2,600 crore to Rs 3,300 crore. READ MORE