Rising Covid Cases Dampen Sentiment
Indian equities began the new trading week on a negative note, ending with losses as rising coronavirus cases kept a check on investor sentiment. India reported over 1 lakh new cases for the first time since the onset of the pandemic.
The S&P BSE Sensex ended 1.7% or 870 points lower at 49,159. The index, however, recovered nearly 600 points from the lowest point of the day. The NSE Nifty 50 index also recovered nearly 200 points from the day's low but ended 1.5% lower at 14,637.
Among the sectoral indices, it was a day to forget for banks and private financials. The Nifty Bank index fell over 1,150 points or close to 4% to end at 32,678. Five out of the top 10 laggards on the Nifty 50 index were private financials. The PSU Bank index was the top sectoral laggard, ending 4.1% lower.
Nifty Realty and Nifty Media indices also saw losses of over 3% in today's trading session. The Auto index fell 2.5% while the FMCG index declined 1.6%.
Metals and technology names were the only ones that bucked the trend in today's session. The Nifty I.T. index ended with gains of close to 2% for the day while the Metal index rebounded from the day's low to end 0.9% higher.
Broader markets also ended with losses, majorly in-line with the benchmark indices. The Nifty Midcap index fell 1.3% while the Smallcap index declined 1.5% in today's session.
The India Volatility Index, which had risen as much as 14% at one point during the day, ended with gains of 6.1% at 21.22.
1,308 stocks on the NSE ended with losses while 647 managed to post gains.
How Did The Sectoral Indices Fare
I.T. Index Is The Top Sectoral Gainer
Impact Of Drop In Gold Prices
Marico's Quarterly Business Update
- India business delivered a very strong double-digit volume growth.
- Revenue growth in Q4 was higher than volume growth due to pricing interventions in key portfolios.
- Strong volume growth in Parachute coconut oil.
- Saffola Edible Oil saw double-digit growth for the sixth straight quarter despite a high base.
- Foods portfolio doubled in size with a strong performance in the oats franchise and aggressive innovations.
- Premium personal care portfolio remains muted.
- International business saw strong double-digit constant currency growth.
- Operating margin likely to dip significantly owing to severe input cost pressure.
- Expect to deliver low double-digit bottomline growth during the quarter.
Pharma Stocks That Should Be In Focus
Benchmark Indices Look To Recover From Day's Low
- Nifty down 1.6% at 14,621 - up 160 points from day's low
- Sensex down 1.8% at 49,113 - up 500 points from the day's low
- Nifty Bank down 3.6% at 32,670
- Nifty Midcap index down 1.6%
- Nifty Smallcap index down 1.4%
- India Volatility Index up 8.7% to 21.72
- Nifty PSU Bank index remains the top sectoral laggard; down 4%
- Nifty Realty and Nifty Media indices down 3.4% each
- Nifty Auto index down 2.6% while FMCG index declines 1.5%
- Nifty I.T. remains the top sectoral gainer; up 1.7%
- Nifty Metal recovers from the day's low to trade with gains of 0.2%
- HCL Tech is the top Nifty gainer; up 2.8%
- Bajaj Finance is the top Nifty laggard; down 5.7%
- 41 out of the 50 index constituents trade with losses
- 1,371 stocks on the NSE trade lower while 551 trade with gains
All Stocks On The Auto Index Trade Lower
What Is M&M's New CEO Betting On
Bucking The Trend: Dr. Lal Pathlabs
- Top gainer on the Nifty Midcap index
- Gains as much as 7.1% to Rs 2,925
- Trading at a record high
- Biggest single-day gain in two months
- Gains for the fifth straight day
- Longest winning streak in three months
- Has gained 18% over the last five trading sessions
- Today's volumes are quadruple its 20-day average
- One-month implied volatility at 40%
- Relative Strength Index (RSI) of the stock in overbought territory at 75.4
- 8 out of the 21 analysts tracking the stock have a buy rating; 8 sell calls
- The stock trades 23.5% higher than its 12-month Bloomberg consensus price target of Rs 2,215.7
Krishnapatnam Port Becomes Adani's Subsidiary
All Stocks On The PSU Bank Index Decline
Minda Industries Looks To Expand Capacity
Benchmark Indices Remain Near The Day's Low
- Nifty down 2.4% at 14,517
- Sensex down 2.5% at 48,775
- Nifty Bank down 3.7% at 32,590
- Nifty Midcap index down 2.3%
- Nifty Smallcap index down 2.2%
- India Volatility Index up 14% to 22.8
- PSU Bank index remains the top sectoral laggard; down 4.7%
- Nifty Media index down 4.4% while realty index down 4.1%
- Nifty Auto index down 3% while FMCG index is down 2.2%
- Nifty I.T. index remains the only sectoral laggard; up 0.7%
- Britannia is the top Nifty gainer; up 2%
- IndusInd Bank remains the top sectoral laggard; down 6.1%
- 43 out of the 50 index constituents decline
- 1,458 stocks on the NSE trade lower while 434 stocks trade with gains
Impact Of Stricter Covid Norms
SAIL's Gross Debt At Five-Year Low
Also Read: SAIL’s Gross Debt Falls To Five-Year Low
Nifty Bank Index Down 4%
India's Port Tycoon
Also Read: How Adani Became India’s Port Tycoon
March Manufacturing PMI Declines Vs February
- IHS Markit Manufacturing Purchasing Managers Index for March at 55.4 Vs 57.5 in February and 51.8 in March 2020.
- This is the lowest reading since August 2020.
- Eighth consecutive month of expansion
- Output falls to 59.4 Vs 62.1 in February
- New orders fall as compared to the previous month
- A reading above 50 indicates expansion while that less than 50 indicates contraction.
Benchmark Indices Extend Losses
- Nifty down 1.7% at 14,612
- Sensex down 1.9% at 49,096
- Nifty Bank down 3.5% at 32,683
- Nifty Midcap index down 1.7%
- Nifty Smallcap index down 1.5%
- India Volatility Index up 11.6% to 22.32
- PSU Bank index is the top sectoral laggard; down 3.7%
- Nifty Media index down 3.3% while Realty index declines 2.8%
- Nifty Auto index declines 2.3% while FMCG index is down 1.1%
- Nifty I.T. index is the only sectoral gainer; up 1%
- Shree Cement is the top Nifty gainer; up 1.9%
- IndusInd Bank is the top Nifty laggard; down 5.2%
- 42 out of the 50 index constituents decline
- 1,074 stocks on the NSE trade with losses while 716 advance
Highest Ever Coronavirus Cases In India
- 1,03,558 cases reported as of 8 A.M. on Monday
- 52,847 patients recovered
- Active cases now at 7,41,830
- 478 deaths reported over the last 24 hours
- Death toll rises 1,65,101
A Subdued Start To Trade
Indian equities opened flat as trading resumed after a long weekend. The sentiment will be kept in check as India is set to cross the mark of 1 lakh daily coronavirus cases for the first time since the onset of the pandemic in March 2020.
The S&P BSE Sensex opened 10 points lower at 50,020 while the NSE Nifty 50 index opened with losses of 0.2% at 14,837. Both Sensex and Nifty saw gains of over 2% during the three-day trading week gone by.
Among the sectoral indices, the Nifty Metal index has opened with gains of 0.4% while the Nifty I.T. index has opened 0.2% higher.
The Nifty Bank index has opened with losses of over 200 points or 0.6% while the PSU Bank index is down 0.5%.
The Nifty Media index is the biggest sectoral laggard, opening 1.3% lower as the Maharashtra government ordered the shutting down of malls, multiplexes and restaurants (open only for home delivery) until April 30 in view of the rising coronavirus cases.
Broader markets have opened little changed in today's trading session.
Current Market Update
Trading Resumes After Long Weekend
Good Morning!
Indian equities will resume trading after a truncated week amid mounting coronavirus cases and imposition of stricter curbs at a time fourth-quarter results season draws near.
The S&P BSE Sensex and NSE Nifty 50 had posted gains for the week ended April 1.
Futures, however, are indicating a subdued start to Monday's trading session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.5% to 14,912, as of 7:55 a.m.
Asian markets that are open for trading today advanced as investors weighed an unexpectedly strong U.S. jobs report. Benchmark indices in Japan traded higher while those in China, Hong Kong and Australia were shut on account of the Easter holiday.
- Futures on the Dow Jones are trading with gains of 212 points. The index rose 0.5% on Thursday.
- Yields on the 10-year treasury fell to 1.7%.
- West Texas Intermediate crude fell 0.3% to $61.3 per barrel after OPEC+ decided to boost production and Saudi Arabia increased prices for shipments to Asia.
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