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Sensex goes up by 200 points, Nifty to 10,560; YES Bank, the best winners of RIL
Share the market directly: In a volatile trading session, national benchmarks Sensex and Nifty turned positive in Wednesday afternoon's session amid massive buying in the media, private banks and financial scripts. The BSE 30 Sensex share index rose 245 points to trade at 35,879 and the NSE 50 Nifty share index traded 48 points more to 10,500..
U.S. stocks rallied after the worst rout since the financial crisis, in hopes of U.S. economic recovery efforts as the coronavirus continued to spread rapidly. Although the firm rebound on Wall Street has not resonated in the Asia-Pacific region with most of the stock markets in the red. In the meantime, the rupee opened up 27 points to 73.81 per dollar after sliding above the level of 74 against the US dollar to settle at 74.08, down 29 points on Monday.
The market remained closed Tuesday due to Holi. On Monday, domestic benchmarks fell more than 6%, posting the largest drop in a day in its history (in absolute terms) against the backdrop of rising coronavirus cases and 31% falling crude oil prices. Continuing its downward spiral, Sensex hit a new 52-week low at 35,109.18. NSE Nifty also fell to a new one-year low of 10,327.05 on Monday's trade. Of this number, 65,765 have been recovered worldwide. The number of coronavirus cases in India increased by 58 on Monday, which further weakened sentiment at home.
Here is an overview of the updates to the BSE and NSE market action today:
The market is recovering from losses
12:30 p.m.
In a volatile trading session, Sensex and Nifty turned positive at Wednesday afternoon's session amid massive buying in the media, private banks and financial scripts. The BSE 30 Sensex share index rose 245 points to trade at 35,879 and the NSE 50 Nifty share index traded 48 points more to 10,500..
IPO allocation of SBI cards today
12:20 p.m.
The basis for the allocation of the initial public offering of SBI cards and payment services will be finalized on March 11, 2020. Investors can check the subscription status of the offer on the portal online from Link Intime India.
In accordance with the provisional IPO dates, the electronic credit of the shares allocated to the candidates selected on their Demat accounts will be carried out by March 13, 2020. The initiation of redemptions for investors who # 39; have not received an award will be made on March 12, 2020.
One of the largest IPOs expected in 2020, whose subscription was open for four days between March 2 and 5, was subscribed 26.54 times on the last day of the trading process. tender. The shares of SBI Cards and Payments will be listed on March 16, 2020.
Sectors today
11:30 a.m.
A negative trend was observed in the sector indices over the course of the day, where the metals, pharmaceuticals and IT indices emerged as the main losers with the decline of 1 to 1.9%, respectively . However, the other sector indices recorded a loss in the range of 0.50% to 0.70%.
YES Bank's share up 35%
11:25 a.m.
YES Bank share price rose for the second consecutive session today after new administrator of the private lender, Prashant Kumar, assured depositors that their money was safe and that the limit of 50 000 rupees on withdrawals could be lifted on Saturday. The share price of YES Bank has gained up to 35.25% at Rs 28.75 compared to the previous close of Rs 21.25 on BSE. It was the best winner on Nifty.
YES Bank share price climbs 35%, first gain for the second consecutive session
Rupee up 33 points to 73.84
11:00
The Indian rupee recovered 33 points to 73.84 against the US dollar at the start of the session Wednesday against a backdrop of positive opening of national stocks and weakening of the US dollar on the foreign market.
Rupee against dollar: the rupee increases by 33 points to 73.84 in a weakened US dollar
Clever perspectives
10:45 a.m.
According to Reliance Reserach on Nifty's outlook for the day, the index support is placed at around 10,300 and then at 10,100 levels, while resistance is observed at 10,650 and then at 10,780.
Market update
10:35 a.m.
National benchmarks have turned red, following mixed indications of the foreign trend, amid strong sales pressure in computer scripts, metals and pharmaceutical stocks. The BSE 30 Sensex share index fell 85 points lower to trade at 35,548 and the NSE 50 Nifty share index traded 40 points lower at 10,397.
Global update
10:30 a.m.
Global stocks also gave mixed signals, with the Shanghai and Hong Kong stock markets trading on a positive note, while the Seoul and Tokyo stock markets fell more than 1%.
Market update
10:20 a.m.
According to traders, the domestic market rebounded from Monday's lows, but has become increasingly volatile, as no respite from the rapid spread of the coronavirus appears to be in sight. The coronavirus epidemic has hit policymakers worldwide, causing an estimated 4,284 deaths, with the number of infected cases reaching 119,108 today. Of this number, 65,765 have been recovered worldwide. The number of coronavirus cases in India increased by 50 on Monday, which further weakened sentiment at home.
YES Bank top gainer
10:15 a.m.
YES Bank shares gained 30% to Rs 26 each on Wednesday after State Bank of India (SBI) president Rajnish Kumar said the lender's moratorium could be lifted in a week.
RBI explores Yes Bank's past
RIL among the best winners on NSE
10:15 a.m.
Reliance Industries gained 5% on Wednesday at Rs 1,158.75, being one of the highest index heavyweights that helped Sensex and Nifty win early in the trade after the Kotak Institutional Equities in its report maintained a purchase with a target for action at Rs 1850 per share. Reliance Industries' share price recovers 50% of the losses observed on Monday.
Main winners and losers
10:10 a.m.
The main winners of the Sensex pack were Reliance Industries, Bharti Airtel, Hero MotoCorp, ICICI Bank and PowerGrid.
In contrast, ITC, Tata Steel, Tech Mahindra, Infosys and UltraTech Cement were among the laggards.
FII / DII action Monday
10:00 a.m.
On a net basis, foreign institutional investors (REITs) sold stocks worth Rs 6,595.56 crore, while domestic institutional investors bought stocks worth Rs 4,974.80 crore on Monday, data available from stock exchanges have shown.
Market update
9.50 a.m.
The benchmarks became volatile amid mixed indices from abroad and wiped out the first gains. Sensex traded 45 points higher at 35,677, and Nifty fell 2 points to 10,443.
World markets
9:45 a.m.
Global markets have traded in a mixed fashion, following US stocks which have recovered from the worst rout since the financial crisis, as expected, the Trump administration will implement stimulus measures to counter the economic impact of coronavirus. The Dow Jones Industrial Average rose 4.89%, the S&P 500 by 4.94% and the Nasdaq Composite by 4.95%.
Although the firm rebound on Wall Street has not resonated in the Asia-Pacific region with most of the stock markets in the red. The largest MSCI Asia-Pacific equity index excluding Japan fell 0.04%. Australian stocks fell 1.31%. The Nikkei index of Japan erased the early losses to increase by 0.24%. Only the Hong Kong Hang Seng index and the Chinese composite index of Shanghai were trading slightly green.
SGX Nifty on the Singapore Stock Exchange was down 1.08% or 113.50 points to 10,400.50. US Futures (Dow Jones) was trading at 24,455, down 394 points or 1.59%.
The crude today
9:40 a.m.
Brent crude is trading 3.76% to $ 38.62 a barrel today.
Rupee today
9:30 a.m.
In the meantime, the rupee opened up 27 points to 73.81 per dollar after sliding above the level of 74 against the US dollar to settle at 74.08, down 29 points on Monday.
Opening bell
9:20 a.m.
National references Sensex and Nifty followed the trend overseas and evolved on a positive note on Wednesday. Sensex traded 165 more points to 35,799 and Nifty traded 117 less points to 10,334.
Actions to watch today on March 11
9:00 a.m.
Asian paintings, Cadila, Lupine, City Union Bank, among others, are the main titles to watch during the trading session on Wednesday.
Actions in the news: Asian paintings, Cadila, Lupine, City Union Bank and more
Last closing
8:45 a.m.
National benchmarks followed the trend overseas on Monday and fell more than 6%, posting the largest day-long decline in history (in absolute terms) amid rising cases of coronavirus and 31% drop in crude oil prices. The Sensex 30-share index finished 1,941 points to 35,634 and the Nifty 50-share index fell 538 points to 10,451. Continuing its downward spiral, Sensex hit a new 52-week low at 35,109.18. NSE Nifty also fell to a new one-year low of 10,327.05.
Sensex and Nifty accident: 5 factors behind the chaos at Dalal Street
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