Sensex, Nifty’s Best Gain Since 2009 And Worst Weekly Drop Since 2008
A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S. (Photographer: Michael Nagle/Bloomberg)

Sensex, Nifty’s Best Gain Since 2009 And Worst Weekly Drop Since 2008

Latest First
  • Oldest First

Maharashtra CM Orders

Closing Bell: Benchmarks Snap Four-Day Losing Streak

Indian equity markets staged a strong rebound on Friday, snapping a four-day losing streak to post their biggest one-day gain since 2009. However, the surge was not enough to prevent the indices from posting their worst weekly drop since October 2008.

The S&P BSE Sensex ended with gains of 5.75 percent, the most since May 18, 2009. 28 out of the 30 constituents ended with gains. For the week, the index posted losses of 12.2 percent, the worst since October 2008.

The NSE Nifty 50 index ended at 8,745, higher by 5.83 percent, the most since May 18, 2009. 46 out of the 50 stocks ended with gains. For the week, the index was down 12.1 percent, the worst since October 2008.

All sectoral indices ended with gains.

Sensex, Nifty’s Best Gain Since 2009 And Worst Weekly Drop Since 2008

Maharashtra CM Says Stock Exchanges To Remain Open

IRCTC Comments On Business Impact

Railway travel operator IRCTC in an interaction with BloombergQuint said that it is likely to lose Rs 100 - 120 crore of turnover due to the cancellations resulting out of the Covid-19 impact.

Managing Director MP Mall said that the impact is likely to be felt in the first quarter of FY21. “Internet ticket sales have fallen by 25 percent,” Mall said, adding that business travel will recovery faster when compared with tourism travel.

The stock is locked in lower circuit for the fifth straight day today. It has fallen 51 percent from its 52-week high of Rs 1,995, made on February 25, 2020.

Trading Ideas From Kunal Rambhia Of The Street

  • Buy NALCO for target of Rs 40 and stop loss of Rs 28
  • Buy SAIL for target of Rs 40 and stop loss of Rs 23
  • Buy Jindal Stainless for target of Rs 40 and stop loss of Rs 24
  • Buy Kotak Mahindra Bank for target of Rs 1,500 and stop loss of Rs 1,150
  • Buy HDFC Bank for target of Rs 1,080 and stop loss of Rs 790

F&O Snapshot: Active Options Contract

Nifty: March 26 Expiry

  • 9,000 Call: Premium up 29.4 percent to Rs 182.25. The contract has added 2.5 lakh shares in open interest.
  • 8,000 Put: Premium falls 32.7 percent to Rs 247.80. The contract has added 9.45 lakh shares in open interest.
  • 9,500 Call: Premium rises 14.77 percent to Rs 68.40. The contract has added 2.77 lakh shares in open interest.

Nifty Bank: March 26 Expiry

  • 22,000 Call: Premium falls 13.6 percent to Rs 337. The contract has added 1.37 lakh shares in open interest.
  • 23,000 Call: Premium falls 12.96 percent to Rs 167.70. The contract has added 1.1 lakh shares in open interest.
  • 25,000 Call: Premium falls 46.9 percent to Rs 39.40. The contract has added 1.51 lakh shares in open interest.
BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.