NEW DELHI: A historic collapse in US crude oil prices to below zero level in overnight trade resulted in a knee-jerk reaction in equities the world over and domestic equities too plunged in tandem.
Sensex lost 1011.29 points to 30,636, wiping off some Rs 3.3. lakh crore in equity investor wealth, while the 50-share Nifty settled 280 points lower
New Delhi: Investor wealth on Tuesday fell by Rs 3,30,408.87 crore after equity markets came under heavy selling pressure following sell-off in global stocks as rout in crude oil hit investor sentiment.
The Sensex tumbled 1,011.29 points, or 3.20 per cent, to close at 30,636.71.
Led by the sharp fall in the index, the market capitalisation of the
JM Financial has given a buy rating to Infosys with a revised target price of Rs 710 (Rs 730 earlier).
Infosys has projected an optimistic outlook while acknowledging the near-term challenges and a soft FY20 exit ($7.4 per cent YoY, in constant currency (CC) excluding the $30 million revenue impact from COVID-19). Both companies intend to leverage
The residential equity market refused to leave the location pattern as well as shown bearish tendencies on the anticipated lines on Tuesday, as the benchmark indices ended with deep cuts.
We can condemn the overnight weak international trade configuration, the interior technological structure stayed relatively weak as defined in our previous notes. The market saw a.The domestic equity market declined to abandon the area pattern as well as displayed bearish tendencies on the expected lines on Tuesday, as the benchmark indices ended with deep cuts. Although we can criticize the over night weak global occupation configuration, the interior technological structure stayed quite weak as defined in our previous notes. The marketplace saw a gap-down opening in addition to turned more anxious as the day continued. Awesome significant its intraday reduced in the afternoon. Nevertheless, some recovery was seen from the decreased, as that level was safeguarded for the remainder of the day. The heading index finished with a loss of 280.40 points, or 3.03 percent. Volatility surged on the expected lines, creating the India
Volatility Index, India VIX, to increase 4.01 percent to 45.1975. Nifty stays within the Climbing Wedge, and likewise is likely to examine the lower pattern line, which is increasing in nature, in the coming days. On the greater side, any up-move will experience resistance near the upper limit of the wedge. Unless the existing location pattern is solved, we will
see the trading variety of the marketplace get narrower in the coming days. Nifty is probably to see a stable begin on Wednesday.
The 9,045 as well as 9,110 levels are most likely to work as key resistance, while supports will definitely can be found in at 8,910 as well as 8,830 degrees. ET CONTRIBUTORSThe Loved One Stamina Index, or RSI, on the daily chart stood at 46.33; it stays neutral and likewise shows no aberration against the rate. The everyday MACD continues to be bullish as it trades above the signal line. A Falling Home window pattern took place on the candle lights. This is a gap, yet because such a space has happened within a location formation/pattern, it holds very little relevance. Pattern analysis makes it obvious that Nifty has really stayed in the location pattern. The index has actually currently developed a wedge. Such location patterns normally happen after a sharp bearishness rally and typically have bearish ramifications. In conclusion, Great continues to stay in a precarious position. Some moderate up-moves are likely to Wednesday. In case of such as up-move, it would be reasonable to utilize these relocations to protect earnings on existing positions. It would certainly not be important to pursue any sort of motion on the benefit, nevertheless remain extremely careful along with defensive while strategy the marketplace. A mindful overview is advised for the day.(Milan Vaishnav, CMT, MSTA, is a Consulting Technical Specialist and likewise creator of Gems Equity Research Study -& Advisory Providers, Vadodara. He can be gotten to at This email address is being protected from spambots. You need JavaScript enabled to view it.)
NEW DELHI: Shares of NMDC traded 2.73 per cent down in Tuesday 's trade at 10:40AM (IST).
Around 4457286 shares changed hands on the counter. The stock opened at Rs 76.0 and touched an intraday high and low of Rs 76.0 and Rs 73.8 , respectively, in the session so far.
The stock quoted a 52-week high of Rs 139.2 and a 52-week low of Rs 62.65 .
The loan moratorium that India, China and other countries have implemented amid the Covid-19 crisis will give borrowers temporary relief, but will restrain banks from taking proactive recovery action and could widen their credit losses once the directive is withdrawn, according to Moody’s Investors Service.
NEW DELHI: Shares of Larsen - Toubro traded 1.16 per cent down in Tuesday 's trade at 10:25AM (IST).
Around 1195346 shares changed hands on the counter. The stock opened at Rs 897.0 and touched an intraday high and low of Rs 906.6 and Rs 880.35 , respectively, in the session so far.
The stock quoted a 52-week high of Rs 1607.0 and a 52-week
Mumbai: Yet again, YES Bank sold its holding in Reliance Naval and was the striking bulk deal in Tuesday’s trade.
For the day, the 30-share Sensex closed 3.20 per cent or 1,011.29 points lower at 30,636.71, while the 50-share Nifty shed 3.03 per cent or 280.40 points to close at 8,981.45.
The meltdown eroded Rs 3.34 lakh crore of investor wealth
NEW DELHI: Shares of Bandhan Bank traded 6.48 per cent down in Tuesday 's trade at 11:03AM (IST).
Around 4391459 shares changed hands on the counter. The stock opened at Rs 205.5 and touched an intraday high and low of Rs 207.4 and Rs 200.0 , respectively, in the session so far.
The stock quoted a 52-week high of Rs 642.0 and a 52-week low of Rs
NEW DELHI: Shares of Indian Railway Catering - Tourism Corporation traded 2.94 per cent up in Tuesday 's trade at 10:13AM (IST).
Around 1163023 shares changed hands on the counter. The stock opened at Rs 1410.0 and touched an intraday high and low of Rs 1479.8 and Rs 1380.0 , respectively, in the session so far.
NEW DELHI: Markets regulator Sebi on Tuesday disposed of insider trading charges against Kotak Mahindra Life Insurance Company in the matter of Manappuram Finance.
It was alleged that Kotak Mahindra Life Insurance Company (earlier known as Kotak Mahindra Old Mutual Life Insurance) sold shares of Manappuram Finance Ltd (MFL) while in possession of
NEW DELHI: Shares of ICICI Prudential Life Insurance Company Ltd. traded 4.32 per cent down in Tuesday 's trade at 10:54AM (IST).
Around 942063 shares changed hands on the counter. The stock opened at Rs 369.35 and touched an intraday high and low of Rs 369.35 and Rs 359.1 , respectively, in the session so far.
NEW DELHI: Shares of State Bank of India traded 3.06 per cent down in Tuesday 's trade at 10:08AM (IST).
Around 12263364 shares changed hands on the counter.
The stock opened at Rs 188.0 and touched an intraday high and low of Rs 188.2 and Rs 185.4 , respectively, in the session so far.
The stock quoted a 52-week high of Rs 373.8 and a 52-week
NEW DELHI: Religare Broking, the arm of financial services group Religare Enterprises, on Tuesday said it has witnessed a whopping 50 per cent upswing in trading volumes from online platforms during the nationwide lockdown.
The company's trading volumes have shot up, especially on its mobile app— Religare Dynami — driven by a significant b
NEW DELHI: Shares of TTK Prestige traded 3.34 per cent down in Tuesday 's trade at 10:49AM (IST).
Around 1099 shares changed hands on the counter. The stock opened at Rs 4884.9 and touched an intraday high and low of Rs 4884.9 and Rs 4701.2 , respectively, in the session so far.
The stock quoted a 52-week high of Rs 7730.24 and a 52-week low of
Emkay Global has retained buy rating on Ashok Leyland with a target price of Rs 76. The brokerage applied target EV/EBITDA multiple of 10 times (vs 11 times earlier). Recovery can be gradual, but the upcycle can last for 4 years with minimum growth of 90 per cent from trough to peak based on historical trends. Ashok Leyland has outpaced industry
Wall Street retreated for a second straight day on Tuesday as a collapse in US crude prices and glum annual forecasts by companies foreshadowed the biggest economic slump since the Great Depression due to the coronavirus outbreak.
All the major S-P 500 sub-sectors fell more than 2 per cent, with the energy index sliding for the seventh time in
NEW DELHI: Shares of NLC India traded 2.37 per cent down in Tuesday 's trade at 10:45AM (IST).
Around 167872 shares changed hands on the counter. The stock opened at Rs 47.0 and touched an intraday high and low of Rs 47.0 and Rs 45.1 , respectively, in the session so far.
The stock quoted a 52-week high of Rs 85.4 and a 52-week low of Rs 38.75 .
SINGAPORE/WASHINGTON: US crude oil bounced back into positive territory on Tuesday, after a historic plunge below zero that shocked investors and pushed down stock prices and Asian currencies.
Futures for May delivery of West Texas Intermediate rose nearly $39 but were still just $1.76 a barrel, after a storage squeeze and collapsing fuel demand
Mumbai: Cement manufacturer ACC reported a 6.64 per cent decline in its consolidated net profit for the March quarter on Tuesday, but still beat Street estimates.
While the company acknowledged that its operations have been severely impacted amid the nationwide lockdown, it expects demand to increase in the medium term once the coronavirus
Brokerage firms have slashed target rates of leading Indian business by as long as 30% over the last 6 weeks to mirror the decline in earnings in the wake of the decline set off by the continuous lockdown.
Bloomberg information on BSE-500 constituents showed out of the 354 supplies tracked by at the very least 5 analysts, 309 have seen a decline in agreement target
Concrete manufacturer ACC on Tuesday reported a 6.64 percent year-on-year (YoY) decline in consolidated income for the March quarter at Rs 323.02 crore compared with Rs 346.02 crore in the extremely same quarter in 2014.
Specialists in an ET NOW study had in fact forecasted the number at Rs 264 crore.
The company reported total profits from operations at Rs 3,501.71 crore in
ET Knowledge Group: The fastmoving customer products (FMCG) market has become a safe house for capitalists amid the Covid-19 situation, yet not all companies from the area appearance encouraging. Multinationals such as HUL, Nestle, Colgate-Palmolive as well as GSK Customer Healthcare have actually led the rally in the section in current months.
Nevertheless, Indian-owned mid-sized
NEW DELHI: A fall in US crude futures into the negative territory for the first time ever in history has caused jitters in equity markets and triggered a drop in US stocks overnight and in Asian markets this morning. Te same is likely to rub off on domestic stocks on Tuesday.Here’s breaking down the pre-market actions.
