Sensex, Nifty LIVE: Equity indices Sensex and Nifty erased early gains and turned bearish as market sentiments were pessimistic following the pan-India lockdown for 21 days. Sensex traded 310 points lower at 26,397, and Nifty gained 78 points higher to 7,722 mark. In recent days, India has been gradually expanding stay-at-home orders and has banned international and domestic flights and suspended passenger service on its extensive rail system.

On Tuesday, Sensex closed 692 points higher to trade at 26,674, and Nifty gained 190 points to 7,801 mark. Overseas, Asian, European as well as Wall Street indices reversed from losses as investors banked on hopes of economic stimulus from policymakers.

Globally, Covid-19 infection cases have risen drastically outside China, hurting major economies and disrupting supply chains. There are over 4 lakh confirmed cases and 17, 451 deaths from the coronavirus outbreak. Of these, over 1 lakh have recovered globally. The number of infected cases in India has increased to 519, with 469 active cases & 39 recovered cases. The death toll from coronavirus in India has risen to 10 till Wednesday.

Here’s a look at the updates of the market action on BSE and NSE today:

Technical outlook on Nifty

10: 30 AM

As per HDFC Securities daily report, the Relative Strength Index on the monthly charts has reached oversold zone for the first time ever in the Sensex.

Similarly, from the all-time high of 12,430, registered in January 2020, Nifty has witnessed a fall of 39% in the span of just 45 sessions. Support for the Nifty has shifted up to 7511, below which it could slide to 7,341, which happens to be 50% retracement of the entire rally seen from 2,252(Oct 2008 Bottom) to 12430(All Time high made in Jan 2020.

In case, Nifty breaks 7,341, Feb 2016 Bottom placed at 6825, can act as a support, the report added further.

Ashok Leyland acquires stake in subsidiary

10: 20 AM

Ashok Leyland Ltd has acquired 1,70,17,995 shares of Rs 10 each, constituting 3.62% of the paid-up equity share capital of Hinduja Leyland Finance, a subsidiary of the Company at a price of Rs 119per equity share.

As per the filing, HLFL is an RBI registered NBFC, with revenue of Rs 2560.64 crore as on March 31, 2019.

Consequent to the aforesaid acquisition, the Company’s shareholding in HLFL stands increased from 61.83% to 65.45%. The aforesaid acquisition is part of the 6.99% acquisition approved by the Board at the meeting held on March 21, 2020, the filing added.

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Shares of Ashok Leyland were trading 3.5% lower at Rs 34.41 today.

Nifty has fallen 39.57% in 46 sessions

10:15 AM

HDFC Securities in its daily market report said that markets are falling at almost triple the speed of 2008. From the highs of 2020 to the lows, the Nifty has fallen 39.57% in 46 sessions. In 2008, the Nifty had fallen as much in 129 sessions. In terms of number of shares in Stock Futures the positions are further down by 8%.

The FIIs had sold stocks worth Rs 26,000 cr in 2008 between January 8, 2008 and July 15, 2008, when the markets fell as much. In the 46 sessions the FIIs have sold double that amount, almost Rs 53,000 cr.

HDFC Securities’ viewpoint report later added that when the markets recoup the highs of 2020, the returns will be 65% as compared to the current fall of 39.57%.

FII/DII action on Tuesday

10:00 AM

On a net basis, foreign institutional investors sold equities worth Rs 2,153.35 crore on Tuesday, data available with stock exchanges showed. Meanwhile, domestic investors bought equity shares worth Rs 1,553 crore yesterday. Incessant foreign fund outflow also kept domestic market participants risk-averse, traders said.

Market turns bearish

9:55 AM

Equity indices Sensex and Nifty erased early gains and turned bearish as market sentiments were pessimistic following the pan-India lockdown for 21 days. Sensex traded 310 points lower at 26,397, and Nifty gained 78 points higher to 7,722 mark.

Money market closed today

9: 50 AM

Currency market will be shut on Wednesday, on account of Gudi Padwa holiday.

Market erases gains

9: 45 AM

Equity indices Sensex and Nifty erased early gains and turned volatile as market sentiments were pessimistic following the pan-India lockdown for 21 days. Sensex traded 30 points higher to trade at 26,703, and Nifty gained 35 points higher to 7,825 mark.

Market turns green

9: 35 AM

Within minutes of opening bell on Wednesday, equity indices turned green and traded with over 2% gains, tracking bullish trend from global key indices. Overseas, Asian, European as well as Wall Street indices reversed from losses as investors banked on hopes of economic stimulus from policymakers.

Sensex traded 500 points higher to trade at 27,299, and Nifty gained 130 points higher to 7,970 mark.

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Opening Bell

9: 15 AM

Equity market indices Sensex and Nifty opened lower on Wednesday’s trading session as PM Narendra Modi called for a nationwide lockdown for 21 days to combat coronavirus outbreak in the country.

BSE 30-share index Sensex fell 174 points lower to trade at 26,499 and NSE 50-share barometer Nifty dropped 65 points to 7,735 level. In domestic grounds, investors were cautious on markets taking a hit due to rising number of COVID-19 infections and deaths.

This was in contrary to global counterparts (barring SGX Nifty) that turned green from multi year lows after the announcement by US Federal Reserve as they promised to support the struggling economy after Congress delayed action on a $2 trillion coronavirus aid package. 

Pre-open session on Wednesday

9:00 AM

BSE 30-share index Sensex fell 280 points lower to trade at 26,393 and NSE 50-share barometer Nifty dropped 75 points to 7,725 level.

JP Morgan says lockdown to severely impact GDP

8: 55 AM

Over the 21 days lockdown announced yesterday, economists at JP Morgan estimated its implications on GDP and said that about 60% of GDP (outside of agri, public admin, health, telecom etc) is expected to get significantly impacted. “Assuming 60-70% hit to the GDP – would mean 2-3% points of annual GDP,” the research firm said.

Complete lockdown in India

8: 50 AM

The Ministry of Home Affairs has issued an advisory containing a list of what will remain open and what will remain closed.

What will remain open, what will remain shut?

All-India lock down for 21 days

8: 45 AM

Prime Minister Modi on Tuesday announced a lockdown in the country yesterday, which will last for 21 days. It is a long time but necessary for everyone’s safety, said PM and added that the nation will have to pay a big price if everyone doesn’t follow social distancing.

PM Modi announces pan India lockdown for 21 days

SGX Nifty in red

8: 35 AM

SGX Nifty on Singaporean Exchange fell 185 points to trade around 7,840 as compared to yesterday’s closing of Nifty March Futures at 7,850, indicating a lower opening for domestic market.

Market expectations

8: 25 AM

Equity market indices Sensex and Nifty are likely to open lower on Wednesday’s trading session. In domestic cues, markets are likely to trade volatile after PM Narendra Modi called for a nationwide lockdown for 21 days to combat coronavirus outbreak in the country.

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Global cues today

8: 20 AM

Global markets record biggest single-day jump in multi-years yesterday on the back of stimulus measures from the US Federal Reserve. Overseas, the trend turned bullish post announcement by US Federal Reserve as they promised to support the struggling economy after Congress delayed action on a $2 trillion coronavirus aid package. In its latest step, the Fed offered to buy unlimited amounts of assets to steady markets and expanded its mandate to corporate and bonds.

On Wall Street, Nasdaq Composite closed 8% higher, while Tuesday saw an 11.37% surge in Dow Jones. FTSE2, CAC and DAX each gained 8%, 9% and 10% respectively in Europe.

Elsewhere in Asia, except SGX Nifty all the other key indices traded in green. While Nikkei grew 5%, Taiwan and Kospi indices were up 4%. Hang Seng, Shanghai and Strait Times gained 2% each.

COVID-19 majorly to rule market trend

8: 15 AM

Globally investors were cautious on markets taking a hit due to rising number of COVID-19 infections and deaths. The Covid-19 infection cases have risen drastically outside China, hurting major economies and disrupting supply chains. There are over 4 lakh confirmed cases and 17, 451 deaths from the coronavirus outbreak. Of these, over 1 lakh have recovered globally. The number of infected cases in India has increased to 519, with 469 active cases & 39 recovered cases. The death toll from coronavirus in India has risen to 10 till Wednesday.

Coronavirus in India Live Updates: Positive cases rise to 562; 54-yr-old patient dies in Tamil Nadu

Stocks to watch today on March 25

8:10 AM

Inox Leisure Sterlite Tech Majesco and more among others are the top stocks to watch out for in Wednesday’s trading session

Stocks in news: Inox Leisure, Sterlite Tech, Majesco and more

Market on Tuesday

8:00 AM

Sensex and Nifty closed over 2.5% higher on Tuesday in line with bullish trend from Asian equities & US stock futures. Investors also hoped that government would soon announce stimulus package for the coronavirus hit industry.

On Tuesday, Sensex closed 692 points higher to trade at 26,674, and Nifty gained 190 points to 7,801 mark.

Sensex rises 692 points, Nifty ends above 7,800 post worst fall in history





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