Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Sensex Ends 1,411 Points Higher; Banking and Finance Stocks Witness Buying
Thu, 26 Mar Closing | Monish Vora, TM Team

Editor's note: Dear reader, we are now on Telegram! Get our latest views on stock markets and more, instantly. Join our Telegram channel here!


Indian share markets continued their rally during closing hours and ended on a strong note.

Benchmark indices rallied for the third day, encouraged by stimulus packages by large economies in order to soften the economic blow from the lockdown of businesses and offices.

At the closing bell, the BSE Sensex stood higher by 1,411 points (up 4.9%) and the NSE Nifty closed higher by 336 points (up 4%).

The BSE Mid Cap index ended up by 3.5%, while the BSE Small Cap index ended the day up by 3.7%.

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

Asian stock markets finished on a negative note. As of the most recent closing prices, the Hang Seng was down by 0.7% and the Shanghai Composite was down by 0.6%. The Nikkei 225 was down 4.5%.

The rupee is currently trading at 75.34 against the US$.

--- Advertisement ---
The No. 1 Small Cap Stock of 2020 (Access Ends Shortly)

In 72 hours from now, the opportunity to access details of The No. 1 Small Cap Stock of 2020 will disappear.

I strongly recommend you don't miss this opportunity.

Access full details here...
------------------------------

The domestic currency rose sharply against the US$ today, tracking strong gains in domestic equity markets. After opening at 75.88 per dollar, the rupee moved to 75.17 at day's high, as compared to the previous close of 76.10.

Earlier this week, the rupee had hit a record low of 76.32.

Gold prices are currently trading up by 0.2% at Rs 42,275.

Note that the Sensex saw its biggest one-day fall on Monday 23 March. The broader NSE Nifty also saw its sharpest one-day fall, crashing 13%, as the virtual shutdown of the economy to contain the spread of coronavirus spooked investors.

The selloff shaved off a record Rs 14 trillion of market capitalisation.

Speaking of the ongoing coronavirus pandemic and the Indian economy, here's what Tanushree Banerjee wrote about the same in a recent edition of The 5 Minute WrapUp...

  • The coronavirus impact has woken everyone up. The dependence on one country and its dangers have been exposed to the whole wide world.

    There are short-term and long-term impacts of this wake-up call.

    The short-term impact is what we're seeing every day. Countries in lockdown, screening of travelers, quarantines, etc.

    But what about the long-term impact?

    We will see this once the crisis is over.

    And this impact will be huge.

Also, talking of the Indian economy, 1991, in a lot of ways, can be termed as the turning point of India's economic story.

From being largely isolated from the outside world, India suddenly became a big part of the new global era.

Exports also became a big contributor to India's GDP. From contributing around 7% of GDP before 1991, exports contribute close to 20% of GDP now.

Is This the 1991 Moment for India Again?

As per Tanushree, if things go India's way, as she believes it will, the aftereffect of the coronavirus will have an even bigger impact than 1991.

As per her, it will have a positive impact on what she calls the Rebirth of India.

She is focused on finding strong businesses with the capacity to take advantage of this huge opportunity.

And these businesses will create a lot of wealth in the long-term.

Also, a few days ago, we asked you to participate in Equitymaster's "State of the Markets" poll.

The poll asked you to vote on what holds next for the Indian stock markets amid the gloomy economy and coronavirus fears.

Many of you voted for the same and we thank you for participating. The numbers are in and here are the results.

--- Advertisement ---
Tanushree's Top 7 Stocks to Profit from the Corona Crash

Our Co-Head of Research, Tanushree Banerjee, says there's an irreversible tail wind in India which has the potential to make Indians extremely rich in about a decade.

And with the corona crash, the opportunity today has only become even more exciting.

In fact Tanushree has identified 7 stocks she believes could do exceedingly well in 2020 and beyond.

Tanushree says those who get into these 7 stocks right now have the chance to make potentially LIFE-CHANGING returns in the coming years.

And by acting fast, you can claim Tanushree's report with details of these 7 stocks virtually FREE.

Here's how to claim your FREE copy of Tanushree's report now!
------------------------------

In news from the macroeconomic space, addressing the media during market hours today, Finance minister Nirmala Sitharaman announced a slew of measures to deal with the economic distress caused due to the coronavirus pandemic and the subsequent lockdown announced to deal with the situation.

The FM announced the Prime Minister Gareeb Kalyan scheme worth Rs 1.7 trillion, which will have two parts - cash transfer and food security.

Here are some key takeaways from the press conference:

FM announced a Rs 1.7 trillion fiscal stimulus plan to aid the economy's fight against the rapidly-spreading coronavirus pandemic. The relief measures included direct cash transfers and food security-related steps aimed at giving relief to the poor workers.

Under this plan, 800 million poor people in the country will get 5 kg of rice or wheat per month free of cost, in addition to the 5 kg they already get. In addition to rice or wheat, each household will get 1 kg of preferred dal for free for the next three months.

The government will pay EPF contribution, both of employer and employee, for 3 months for all those establishments with less than 100 employees out of which 90% earn less than Rs 15,000 per month.

Women Jan Dhan account holders will get an ex-gratia amount of Rs 500 per month for 3 months to run household during this period.

Farmers will get the first instalment of the PM-KISAN payment of Rs 2,000 soon. As per reports, this move will benefit 87 million farmers across the country.

Rs 310 billion welfare fund will be utilized for building and construction workers.

The FM also announced a medical insurance scheme for health workers. This Rs 5 million per individual insurance plan would be applicable to all health workers that includes sanitation and ASHA workers, paramedics, doctors, nurses.

Note that, the finance minister had already announced some measures earlier this week on Tuesday, that included extension of tax deadlines, easing minimum balance norms for savings account, and increasing threshold of insolvency filing to Rs 10 million from Rs 0.1 million.

Moving on to news from the pharma sector, shares of Caplin Point were locked in the 20% upper circuit limit, after the company's arm Caplin Steriles received final approval from the US drug regulator for Verapamil Hydrochloride injection.

According to IQVIA (IMS Health), Verapamil Hydrochloride injection USP had US sales data of approximately US$ 28 million for the 12-month period ending December 2019.

Caplin Steriles has developed and filed 15 ANDAs on its own and with partners, with 7 approvals so far. The company is also working on a portfolio of 35 simple and complex injectable and ophthalmic products, to be filed over the next 4 years.

Meanwhile, Cipla has received final approval for its Abbreviated New Drug Application (ANDA) for Esomeprazole for Oral Suspension 10mg, 20mg and 40mg from the United States Food and Drug Administration (USFDA).

Cipla is the first company to file for the 10mg strength.

The above drug is AB-rated generic therapeutic equivalent version of AstraZeneca Pharmaceutical's Nexium.

Cipla share price ended the day up by 3.6%.

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...

Equitymaster requests your view! Post a comment on "Sensex Ends 1,411 Points Higher; Banking and Finance Stocks Witness Buying". Click here!

  

Stock Market Updates

TTK PRESTIGE Surges by 17%; BSE CONSUMER DURABLES Index Up 1.7% (Today's Market)

Mar 31, 2020 03:33 PM

TTK PRESTIGE share price has surged by 17% and its current market price is Rs 5,154. The BSE CONSUMER DURABLES is up by 1.7%. The top gainers in the BSE CONSUMER DURABLES Index are TTK PRESTIGE (up 16.8%) and CROMPTON GREAVES CONSUMER ELEC. (up 10.4%). The top losers are TITAN (down 1.4%) and BAJAJ ELECTRICALS (down 1.8%).

KEC INTERNATIONAL Surges by 6%; BSE CAPITAL GOODS Index Up 1.3% (Today's Market)

Mar 31, 2020 03:33 PM

KEC INTERNATIONAL share price has surged by 6% and its current market price is Rs 187. The BSE CAPITAL GOODS is up by 1.3%. The top gainers in the BSE CAPITAL GOODS Index are KEC INTERNATIONAL (up 5.6%) and HONEYWELL AUTOMATION (up 7.8%). The top losers are THERMAX (down 1.7%) and LAKSHMI MACHINE (down 1.7%).

HUL Surges by 5%; BSE FMCG Index Up 5.4% (Today's Market)

Mar 31, 2020 03:33 PM

HUL share price has surged by 5% and its current market price is Rs 2,312. The BSE FMCG is up by 5.4%. The top gainers in the BSE FMCG Index are HUL (up 5.2%) and GSK CONSUMER (up 5.9%). The top losers is JYOTHY LABS (down 2.9%).

YES BANK Plunges by 10%; BSE BANKEX Index Up 1.5% (Today's Market)

Mar 31, 2020 03:33 PM

YES BANK share price has plunged by 10% and its current market price is Rs 26. The BSE BANKEX is up by 1.5%. The top gainers in the BSE BANKEX Index are CITY UNION BANK (up 5.4%) and SBI (up 4.8%). The top losers are YES BANK (down 10.5%) and INDUSIND BANK (down 14.8%).

3M INDIA Surges by 10%; BSE 500 Index Up 3.4% (Today's Market)

Mar 31, 2020 03:33 PM

3M INDIA share price has surged by 10% and its current market price is Rs 19,301. The BSE 500 is up by 3.4%. The top gainers in the BSE 500 Index are 3M INDIA (up 10.4%) and TTK PRESTIGE (up 16.8%). The top losers are THE INDIAN HOTELS (down 0.1%) and FORTIS HEALTHCARE (down 0.1%).

Indian Indices Extend Gains; ONGC, ITC and Asian Paints Surge Over 5% (Today's Market)

Mar 31, 2020 12:30 pm

The BSE Sensex is trading up by 818 points, while the NSE Nifty is trading up by 257 points.

View More Indian Share Market News

Most Popular

If I Were to Recommend One Stock Amid Coronavirus Outbreak, This Would be It.(Profit Hunter)

Mar 19, 2020

Coronavirus outbreak has made no impact on the long term prospects of my favourite smallcap. What it has indeed done is brought the company below my buy price, making it even more attractive investment at current price.

Why India Will Be the Biggest Winner in a Post-Coronavirus World(The 5 Minute Wrapup)

Mar 19, 2020

The way businesses operate will change in a major way post the coronavirus impact. Here's why India stands to benefit from this change...

A Big Trading Opportunity is Coming Your Way Soon(Fast Profits Daily)

Mar 25, 2020

I see a big opportunity to make fast profits on the horizon.

Coronavirus Sell-off Is a Perfect Time to 'Lockdown' this 'Crorepati' Stock(Profit Hunter)

Mar 24, 2020

Coronavirus crisis and panic selling has brought this quality smallcap to multiyear lows, making it a great bargain.

The Biggest Trading Opportunity of 2020 is Here...

Mar 26, 2020

India's #1 trader, Vijay Bhambwani, talks about a hugely profitable trading opportunity which you must know about today!

More

How to Trade the
Coronavirus Crash

Coronavirus Crash
Get this special report, authored by Equitymaster's top analysts, now.
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Mar 31, 2020 03:37 PM

MARKET STATS