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Markets will remain closed on 10th April, 2020 on account of Good Friday.

Sensex Ends 1,861 Points Higher; Energy and Banking Stocks Witness Huge Buying
Wed, 25 Mar Closing | Monish Vora, TM Team

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Indian share markets continued to trade in the green during closing hours and ended their day on a strong note.

Benchmark indices Sensex and the Nifty saw their biggest one day gain in nearly 11 years on the back of possible announcement of fiscal measures from the government.

At the closing bell, the BSE Sensex stood higher by 1,861 points (up 7%) and the NSE Nifty closed higher by 496 points (up 6.4%).

The BSE Mid Cap index ended up by 3.5%, while the BSE Small Cap index ended the day up by 2.8%.

On the sectoral front, gains were largely seen in the energy sector and banking sector.

Asian stock markets finished on a positive note. As of the most recent closing prices, the Hang Seng was up by 3.81% and the Shanghai Composite was up by 2.71%. The Nikkei 225 was up 8.04%.

European markets were also trading on a positive note. The FTSE 100 was up by 2.10%. The DAX was trading up by 1.15%, while the CAC 40 stood up 2.17%.

The rupee was trading at 75.96 against the US$.

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Since the coronavirus outbreak, all BSE indices and NSE indices have fallen sharply.

In a recent article, we dive deep and show you how bad the coronavirus impact has been for individual sectors. You can read the same here: Worst Hit Indian Sectors Amid Coronavirus Pandemic: 10 Points to Know

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In news from commodity space, crude oil prices continued their momentum and went on to witness huge gains. Prices rose more than 5% to Rs 1,976 per barrel as market participants widened their positions tracking a positive trend overseas.

Crude oil also witnessed buying interest yesterday as prices rose around 4% on hopes that the US will soon reach a deal on a US$ 2 trillion coronavirus aid package that could blunt the economic impact of the outbreak and in turn support oil demand.

The US Federal Reserve on Monday rolled out an extraordinary array of programs to backstop an economy reeling from restrictions on commerce that scientists say are needed to slow the coronavirus pandemic.

Note that, crude oil prices had crashed earlier this month in what was the worst price dip since the 1991 Gulf War with Brent prices plunging to US$ 31 per barrel.

In a recent article, we have written the entire timeline showing economics of falling crude oil prices. You can check the same here: All About the 30% Crash in Crude Oil - 10 Points

Vijay Bhambwani, editor of Weekly Cash Alerts at Equitymaster, states that at this point in time, short selling natural gas & crude oil at significantly higher levels for the coming summer are high conviction trades.

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Vijay's last 11 recommendations have been profitable. He will be sharing full details of his trading system on Monday, 30 March at 5pm.

You can sign up for Vijay's upcoming event here.

Moving on to news from the pharma sector, amid the coronavis outbreak, the government today banned export of anti-malarial drug hydroxychloroquine. The ban is from immediate effect to ensure sufficient availability of the medicine in the domestic market.

Indian Council of Medical Research (ICMR) Director General Balram Bhargava had on Monday recommended the use of hydroxychloroquine for treating healthcare workers handling suspected or confirmed coronavirus cases and also the asymptomatic household contacts of the lab-confirmed cases.

The treatment protocol recommended by the ICMR-constituted National Task Force for COVID-19 has been approved by the Drug Controller General of India (DGCI) for restricted use in emergency situations.

The government, however, said it will allow export of the medicine on humanitarian grounds on case-to-case basis on the Ministry of External Affairs' recommendation.

According to some reports, demand for hydroxychloroquine and chloroquine, a related compound, have jumped after US President Donald Trump said that these salts were effective in treating COVID-19.

Over the last few weeks, India has banned exports of host of medical devices including sanitisers, all types of ventilators and surgical masks.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


What else is happening in the markets today? Dig in...

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Stock Market Updates

VOLTAS Surges by 6%; BSE CAPITAL GOODS Index Up 1.6% (Today's Market)

Apr 9, 2020 03:33 PM

VOLTAS share price has surged by 6% and its current market price is Rs 515. The BSE CAPITAL GOODS is up by 1.6%. The top gainers in the BSE CAPITAL GOODS Index are VOLTAS (up 6.0%) and HEG (up 10.0%). The top losers are THERMAX (down 0.6%) and KALPATARU POWER (down 0.6%).

MARUTI SUZUKI Surges by 13%; BSE AUTO Index Up 10.2% (Today's Market)

Apr 9, 2020 03:33 PM

MARUTI SUZUKI share price has surged by 13% and its current market price is Rs 5,399. The BSE AUTO is up by 10.2%. The top gainers in the BSE AUTO Index are MARUTI SUZUKI (up 12.9%) and MRF LTD. (up 5.2%).

LUPIN Surges by 13%; BSE HEALTHCARE Index Up 3.4% (Today's Market)

Apr 9, 2020 03:33 PM

LUPIN share price has surged by 13% and its current market price is Rs 798. The BSE HEALTHCARE is up by 3.4%. The top gainers in the BSE HEALTHCARE Index are LUPIN (up 12.7%) and DIVIS LABORATORIES (up 6.2%). The top losers are J.B.CHEMICALS (down 0.2%) and PROCTER & GAMBLE HEALTH (down 1.2%).

TATA ELXSI Surges by 11%; BSE IT Index Up 1.6% (Today's Market)

Apr 9, 2020 03:29 PM

TATA ELXSI share price has surged by 11% and its current market price is Rs 712. The BSE IT is up by 1.6%. The top gainers in the BSE IT Index are TATA ELXSI (up 11.1%) and FIRSTSOURCE SOL. (up 12.2%). The top losers is TECH MAHINDRA (down 2.4%).

TITAN Surges by 12%; BSE 500 Index Up 3.8% (Today's Market)

Apr 9, 2020 03:29 PM

TITAN share price has surged by 12% and its current market price is Rs 1,040. The BSE 500 is up by 3.8%. The top gainers in the BSE 500 Index are TITAN (up 12.5%) and MARUTI SUZUKI (up 14.1%). The top losers are BLUE DART EXPRESS and UPL .

Sensex Zooms 1,000 Points; Hero MotoCorp & Bajaj Auto Surge Over 9% (Today's Market)

Apr 9, 2020 12:30 pm

The BSE Sensex is trading up by 1,035 points, while the NSE Nifty is trading up by 297 points.

View More Indian Share Market News

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Apr 9, 2020 03:37 PM

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