Sensex, Nifty End Volatile Session With Modest Losses

• Benchmarks end with losses in a volatile session
• Nifty ends 0.5 percent lower at 8,748
• Nifty futures end at a premium of 7 points
• Sensex ends 0.6 percent lower at 29,893
• Nifty Bank ends 0.6 percent lower at 18,946
• Broader Markets outperform
• Nifty Midcap and Smallcap indices end with gains of 1.8 percent each
• India Volatility Index up 1.2 percent at 52.42
• Nifty I.T., Metal, PSU Bank and Realty index end with losses
• Nifty Auto, Media, FMCG and Pharma end with gains
• Vedanta ends as top Nifty gainer, up 5.5 percent
• Shree Cement ends as top Nifty loser, down 3.8 percent
• 1,221 stocks advanced while 596 ended with losses

Indian equity markets ended with modest losses after fluctuating for most parts of the trading day.

The S&P BSE Sensex fell over 1,300 points from the day’s high to end at 29,893, down 0.6 percent. 15 out of the 30 index constituents ended with gains.

The NSE Nifty 50 index ended 0.5 percent lower at 8,748, down almost 400 points from the day’s high. Pharma stocks led the gains while Tata group stocks like TCS and Titan were among the top laggards.

Among sectoral indices, Nifty Realty index was the top loser, ending with losses of close to 2 percent.

1,221 stocks ended the trading day with gains while 596 stocks ended with losses.

• Trades at lowest level since January 2017
• Down for 8 out of last 10 trading sessions
• Falls 25 percent in the last 10 sessions
• Volumes are 0.7 times higher than its 30-day average
• Relative Strength Index at 10. RSI below 30 indicates stock is oversold
• 20 out of the 26 analysts tracking the stock have a buy recommendation
• Return potential for the stock as per Bloomberg data is 86.3 percent
• Down 52 percent from 52-week high of Rs 641 in July 2019

Adani Gas Ltd. will cut CNG and domestic PNG prices starting April 9, as per Bloomberg.

The company will cut CNG prices by Rs 2.25 to Rs 3.60 per kilogram across locations.

Shares fell as much as 3.8 percent to Rs 90.45, snapping a four-day gaining streak.

• Buy Divis Laboratories for target of Rs 2,400 and stop loss of Rs 2,100
• Buy Tata Motors for target of Rs 80 and stop loss of Rs 64

Shares of the two-wheeler maker surged as much as 8.1 percent to Rs 286 after Bloomberg News reported that it is among the prospective bidders considering making an offer for Norton Motorcycles of the U.K.

People with knowledge of the matter told Bloomberg News that the deliberations are ongoing and that the company has not made a final decision on whether to formally bid for Norton, which went into administration in January this year.

• Nifty April futures add 10.6 percent in open interest and 10.14 lakh shares
• Nifty Bank April futures add 13.9 percent in open interest and 1.38 lakh shares

Nifty: April 9 Expiry

• 9,000 Call: Premium falls 69.5 percent to Rs 25.75. The contract has added 7.7 lakh shares in open interest.
• 8,500 Put: Premium falls 13.1 percent to Rs 50.95. The contract has added 84,750 shares in open interest.
• 8,700 Put: Premium rises 1 percent to Rs 102.55. The contract has added 3.46 lakh shares in open interest.

Nifty Bank: April 9 Expiry

• 20,000 Call: Premium falls 43 percent to Rs 80.85. The contract has added 1.92 lakh shares in open interest.
• 18,000 Put: Premium falls 27.5 percent to Rs 123.90. The contract has added 1.1 lakh shares in open interest.
• 18,500 Put: Premium down 3 percent to Rs 270.50. The contract has added 64,580 shares in open interest.

Active Stock Options

• State Bank of India’s 200 Call: Premium down 8 percent to Rs 9.1. The contract has added 1.86 lakh shares in open interest.
• Reliance Industries’1,300 Call: Premium falls 17 percent to Rs 29.85. The contract has added 28,500 shares in open interest.
• ICICI Bank’s 340 Call: Premium falls 8.6 percent to Rs 17.55. The contract has added 1.5 lakh shares in open interest.

• Benchmark indices give up gains; trade near day's low
• Nifty falls 0.9 percent to 8,712
• Nifty futures trade at a discount of 15 points
• Sensex falls 1 percent to 29,751
• Nifty Bank down 1.8 percent to 18,713
• Nifty Midcap Index up 1.5 percent
• Nifty Smallcap Index up 1.2 percent
• India Volatility Index up 1.1 percent at 52.38
• The rupee hits a fresh record low of 76.34 against the U.S. dollar before ending at 76.30.
• Most sectoral indices trade with losses
• Nifty Pharma (Up 4 percent) is holding on to gains
• Cipla remains top Nifty gainer, up 4.8 percent
• TCS remains top Nifty laggard, down 4 percent
• 1,170 stocks are advancing while 584 stocks trade with losses

The Indian currency hit a fresh record low of 76.34 against the U.S. dollar. It breached the previous low of 76.2750 against the greenback.

The local currency finally ended the truncated trading session at 76.30 against the U.S. dollar. This was the second straight day of weakness for the currency after Tuesday's fall.

Yield on the 10-year bond too ended at 6.44, after opening at 6.40.

Markets across Europe opened with losses after the region's central bank chiefs failed to reach a deal in response to the Coronavirus.

Failure to reach a deal has also impacted Euro and Italian bonds, which have taken a hit. A press conference has been tentatively scheduled for later today.

Here is a look at how benchmarks across Europe are faring in early trade:

• Euro Stoxx 50 down 1 percent to 2,828
• DAX down 0.4 percent to 10,315
• CAC down 1.35 percent to 4,378
• FTSE 100 down 1 percent to 5,647
• IBEX 35 down 1.1 percent to 6,928

• Gained as much as 20 percent to Rs 47.80
• Up for second day in a row
• Top gainer on the Nifty Auto index
• Trades at the highest level in over two-weeks
• Gains on strong volumes
• Volumes are 2.3 times higher than its 30-day average
• Relative Strength Index at 37. Rebounds from levels of 14.7 on March 25, 2020
• 24 out of the 47 analysts tracking the stock have a buy recommendation while 9 have a sell call
• Return potential for the stock as per bloomberg data is now at 62 percent.

• Gains as much as 12.4 percent to Rs 225
• Biggest single-day gain since July 29, 2010
• Up for the second day in a row
• Up 13 percent in the last two sessions
• Among top 10 gainers on the Nifty 500 index
• Volumes are 1.4 times higher than its 30-day average
• 31 out of the 43 analysts tracking the stock have a buy recommendation, only one sell call
• Return potential for the stock as per Bloomberg data is 41 percent
• Shares of Mahanagar Gas too are up for the third day in a row, rising 2.7 percent to Rs 883.

• Gains for the sixth day in a row
• Up in 9 out of the last 10 trading sessions
• Gains 25 percent in the last six sessions
• Hit a 52-week high of Rs 18,250 in today's session
• Volumes are 2.4 times higher than its 30-day average
• Up 155 percent from 52-week low of Rs 7,138 made on May 16, 2019
• 9 out of the 12 analysts tracking the stock have a buy rating
• Trades 10.1 percent higher than its 12-month Bloomberg consensus price target of Rs 16,045

• Top gainer on the Nifty Smallcap Index
• Up for the fourth day in a row
• Locked in a 10 percent upper circuit for the second straight day
• Up 26 percent in the last four sessions
• Up 40 percent from 52-week low of Rs 18.75 on March 24, 2020
• Volumes are 1.1 times higher than its 30-day average
• 10 out of the 16 analysts tracking the stock have a buy recommendation while 3 have a sell rating
• Return potential of the stock as per Bloomberg data is 137 percent

• Top gainer on Nifty Midcap Index
• Gains as much as 17.7 percent to Rs 338
• Biggest intra-day gain since September 10, 2007
• On a closing basis, this is the biggest single-day gain on record
• Seen a 20 percent swing intra-day
• Snaps six-day losing streak
• Declined in 9 out of the last 11 trading sessions
• Gains on very strong volumes
• Volumes are 10.3 times higher than its 30-day average
• 14 out of the 34 analysts tracking the stock have a buy rating, 8 have a sell call.
• Return potential of the stock as per Bloomberg data is 72 percent

• Benchmark indices fall off the day's high in the last half an hour
• Nifty up 0.5 percent at 8,840
• Nifty futures trade at a discount of 13 points
• Sensex up 0.6 percent at 30,254
• Nifty Bank up 0.8 percent at 19,212
• Nifty Midcap and Smallcap index up 2 percent each
• India Volatility Index up 3.5 percent to 53.6
• All sectoral indices give up gains
• Nifty Pharma index up 3 percent while Nifty FMCG up 4 percent
• GAIL is the top Nifty gainer, up 6 percent
• TCS is the top Nifty loser, down 2.5 percent
• 1,293 stocks are advancing while 416 stocks trade with losses

The Pharma index is up for the third day in a row. It has now gained in 9 out of the last 10 trading sessions. It has gained over 30 percent in the last 10 sessions.

• Top gainer on the Nifty I.T. index
• Gains for the second day in a row
• Up 15 percent in the last two sessions
• Volumes are 1.4 times higher than its 30-day average
• Trades at 11 times estimated forward earnings per share as against 13 times for peers
• Up 25 percent from 52-week low of Rs 202 made on March 23, 2020
• 14 out of the 26 analysts tracking the stock have a buy recommendation, two have a sell rating
• Return potential for the stock as per Bloomberg data is 33 percent.

• Gained as much as 20 percent to Rs 261 in today's trade
• Snaps six-day losing streak
• Fell 23 percent during the six-day losing streak
• Gains on heavy volumes
• Volumes at 3.9 times higher than its 30-day average
• Trades at 16x estimated forward earnings per shares
• 13 out of the 32 analysts tracking the stock have a buy recommendation while 10 have a sell call
• Return potential for the stock as per Bloomberg data is 65 percent
• Currently trades 53 percent below its 52-week high of Rs 533.9 made on January 16, 2020

In a notification to the exchanges, the company has informed that the production at its Caustic Soda plant at Bharuch will begin on April 9, 2020 at 10 percent of their full capacity.

The filing also adds that the company's Fertiliser plant at Kota will be operational starting today. Production will gradually be increased depending on the market situation and government directives, the company said.

Shares rose for the second straight day, rising as much as 9.9 percent to Rs 228.20.

• Gains as much as 16 percent to Rs 193.90
• Snaps five-day losing streak
• Had fallen 33 percent in the last five sessions
• Top gainer on the Nifty Bank index
• Gains on heavy volumes
• Volumes at 4.1 times higher than its 30-day average
• 15 out of the 20 analysts tracking the stock have a 'buy' recommendation
• Return potential of the stock as per Bloomberg data at 137 percent
• Has rebounded 29 percent from 52-week low of Rs 152.2 made on March 25, 2020

• Nifty April futures add 9.9 percent in open interest and 9.5 lakh shares
• Nifty Bank April futures add 9 percent in open interest and 89,260 shares

Nifty: April 9 Expiry

• 9,000 Call: Premium rises 112.5 percent to Rs 179.85. The contract has added 25,650 shares in open interest.
• 8,500 Put: Premium falls 52.34 percent to Rs 28. The contract has added 5.4 lakh shares in open interest.
• 9,200 Call: Premium rises 210.4 percent to Rs 106. The contract has added 3 lakh shares in open interest.

Nifty Bank: April 9 Expiry

• 20,000 Call: Premium rises 247 percent to Rs 493. The contract has added 24,760 shares in open interest.
• 19,500 Call: Premium rises 152 percent to Rs 737. The contract has shed 21,720 shares in open interest.
• 18,000 Put: Premium falls 65 percent to Rs 59.20. The contract has added 1.2 lakh shares in open interest.

The stock is the top gainer on the Nifty 50 index today, surging 10 percent to Rs 422.20.

UBS Principal Capital Asia acquired bought 53.83 lakh shares or 0.9 percent stake in the lender on Tuesday in a large trade at Rs 367 per share.

The stock also ended as the top Nifty gainer on Tuesday, rising 25 percent.

• Benchmark indices recover from day's low; surge to day's high
• Nifty up 1.9 percent at 8,963
• Nifty futures trade at a premium of 8 points
• Sensex up 1.8 percent at 30,612
• Nifty Bank up 2.8 percent at 19,589
• Nifty Midcap index up 3.7 percent
• Nifty Smallcap index up 3.5 percent
• India Volatility Index up 1 percent at 52.26
• All sectoral indices trade with gains
• Nifty Auto, Media, Metal and Pharma indices up 4 percent each
• Nifty FMCG up 2.5 percent while Nifty I.T. gains 1 percent
• Nifty PSU Bank and Nifty Realty up over 2.5 percent each
• IndusInd Bank is the top Nifty gainer, up 10 percent
• ITC is the top Nifty loser, down 1.5 percent
• Three Nifty stocks trade with losses
• 1,383 stocks trade with gains while 261 stocks are declining

The Indian Currency opened weaker after ending with gains in its first truncated trading session on Tuesday.

The rupee opened at 75.81, compared to Tuesday's close of 75.62 against the U.S. dollar.

Yield on the 10-year bond opened at 6.40 percent against Tuesday's close of 6.41 percent.

In a notice to the exchanges, the company has informed that the exchanges have sought clarification over a news item appearing in a media portal which stated that Cadila has claimed to have found a vaccine for the Coronavirus.

The company's reply to this query from the exchanges is awaited.

The stock is up 10.8 percent at Rs 346.15 and is the top gainer on the Nifty Pharma index. This is the third day of gains for the stock.

Shares of the water and sewage treatment plants maker gained as much as 5.2 percent to Rs 81.90 on the National Stock Exchange.

The company secured a 5-year operation and maintenance contract in AMAS sewage treatment plant in the Kingdom of Bahrain for Rs 90 crore.

The stock is up for the second day in a row, after a 3.2 percent gain on Tuesday.

Indian equity markets staged a pullback after registering its biggest one-day gain since 2009 on Tuesday, tracking weak cues from the U.S. and mixed ones across the Asia Pacific.

The S&P BSE Sensex opened 1.2 percent lower at 29,701, after a 9 percent surge on Tuesday, while the NSE Nifty 50 opened 1.17 percent lower at 8,688 after Tuesday's 8.7 percent surge.

All sectoral indices opened with cuts, barring the Nifty I.T. which opened flat. Rest of the indices fell between 1-2 percent.

720 stocks opened with gains while 630 declined at the start of trade.

• Buy Biocon for target of Rs 350 and stop loss of Rs 308
• Sell LIC Housing Finance for target of Rs 199 and stop loss of Rs 227

• Sell Nifty at 8,850 for target of 8,650 and stop loss of 8,950
• Sell Ramco Cements for target of Rs 455 and stop loss of Rs 505
• Buy ICICI Prudential for target of Rs 380 and stop loss of Rs 350

• SBI: Reduces MCLR by 35 basis points across all tenors with effect from April 10.
• Aurobindo Pharma: PTI reports that a class action suit has been filed against some drug manufacturers, including Aurobindo and Emcure in a U.S. court for allegedly concealing facts about a cancer-causing agent N-nitrosodimethylamine's presence in Metformin medicine.
• JSW Energy: CCI approves the acquisition of 100 percent shareholding in GMR Kamalanga Energy
• Deepak Nitrite: Got approval from Vadodara District Industries Commissionerate to commence production of 2 Ethyl Hexyl Nitrate which is one of the essential raw material used in the refining process of diesel oil produced by various refineries.
• Embassy Office Parks REIT: Sponsor Embassy Property Developments created a pledge of 8.13 crore units (10.54 percent) in favour of Catalyst Trusteeship for a period of 10 years.
• VA Tech Wabag: Gets 5-year operation and maintenance contract in AMAS sewage treatment plant in the Kingdom of Bahrain for Rs 90 crore.

Find out all that you need to know going into today’s trade here.

• Benchmark indices end lower after gaining as much as 3.5 percent intra-day.
• The S&P 500 ended 0.2 percent lower after briefly entering bull market territory, climbing 20 percent from its March 23 low.
• The MSCI All-Country World Index rose 2 percent to a four-week high
• New York's rate of new infections lowered for the third day in a row as did those in Spain and Germany.
• The Bloomberg Dollar Spot Index fell 1.1 percent, the biggest drop in over a week.
• Yield on the 10-year treasury gained seven basis points to 0.72 percent
• West Texas Intermediate crude fell 7.5 percent to $24.13 per barrel.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 1.37 to 8,704 as of 7:05 a.m.

Asian markets stalled a two-day rally as investors continue to weigh signs of a slowing rate of the Covid-19 spread against more deaths. Australian markets fell 1.5 percent, as did markets in Japan and South Korea.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.