Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
8,660.2518.8
Stock Analysis, IPO, Mutual Funds, Bonds & More
LIVE BLOG

Economic Times | 27 Mar, 2020 | 09.58AM IST

Traders' Diary: Nifty trading range at 7,700-9,200

Sensex surged 1,410.99 points or 4.94 per cent to settle at 29,946.77, while Nifty shot up 323.60 points or 3.89 per cent to 8,641.45.

!1 New UpdateClick here for latest updates
10:46 PM

Dow Jones rallies as job losses stir talk of more stimulus

Wall Street surged on Thursday as record weekly jobless claims came in below investors' worst fears, making a case for more aggressive stimulus to aid businesses and families wrecked by the economic fallout of the coronavirus pandemic. The number of Americans filing claims for unemployment benefits surged to 3.28 million last week as state-wide lockdowns brought the economy to a halt and unleashed a wave of layoffs, but was still below estimates ranging as high as 4 million.
09:18 PM

Where can a weak rupee hurt the most?

09:16 PM

Can Dalal Street extend this rally?

09:15 PM

A hold above the 8,749 level could push the index towards its 13-day EMA of 8,978, which had been offering support in upward phases. By the principle of polarity, the level can become a resistance for the index. Contrary to this, a close below 8,304 can kick in profit booking as Nifty is almost up by around 15 per cent in the last three days from the lows of 7,511

- Mazhar Mohammad, Chartviewindia.in

08:34 PM

The overall chart structure is still negative, but a pullback from the ongoing corrective phase cannot be ruled out after the sharp decline in last five weeks. As long as Nifty holds above the 8,300 level, the index may bounce towards the next resistance at 8,888 and then 9,200 levels, while support is now placed at 8,300 and then 8,000 levels. Options data indicated a wider trading range between 7,700 and 9,200 levels

- Chandan Taparia is Technical & Derivative Analyst at MOFSL

07:41 PM

YES Bank raises fundraising size to Rs 15,000 crore

Private lender YES Bank on Thursday said it has increased its fundraising size to Rs 15,000 crore from Rs 10,000 crore. In a late evening release, the bank said it will raise the additional amount through shares, ADRs, GDRs or convertible bonds.
06:03 PM

The hourly chart showed that Nifty broke out from a falling channel. Thus the bulls could stretch their arms till 8,750. On the higher side, however, the swing high of 8,883 remained invincible. So the Nifty hasn't violated lower top lower bottom formation on the daily chart. Unless Nifty crosses that swing high it can once again tumble back to the 8,000 level

- Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan

05:25 PM

Fed's Powell says US may be in recession, control of virus to dictate timing of economy reopening

WASHINGTON: The US "may well be in recession", but progress in controlling the spread of the coronavirus will dictate when the economy can fully reopen, Federal Reserve chair Jerome Powell said Thursday in an interview on NBC's Today Show. "We are not experts in pandemic... We would tend to listen to the experts. Dr. Fauci said something like the virus is going to set the timetable, and that sounds right to me," Powell said, in reference to Anthony Fauci, head of National Institute of Allergy and Infectious Diseases. "The first order of business will be to get the spread of the virus under control and then resume economic activity."
04:02 PM

FM came out with some announcements in terms of a relief package, which was majorly attributed to poor people and farmers who are facing major problems during lockdown, but there was no major thing, which can boost market sentiment while the market has already rallied significantly in the last 2-3 days in anticipation of some kind of announcements. There are some signs that we have made a probable bottom around 7,500, as the market has discounted almost the worst-case scenario, but volatility will continue in tandem with global markets where the trend in coronavirus cases globally and locally will dictate the further direction of the market. Technically 8,900-9,000 will act as an immediate supply zone, above this Nifty can head towards the 9,500-10,000 zone. On the downside, 8,100- 8,000 has become an immediate and strong support area

- Santosh Meena, Senior Analyst, TradingBells

04:00 PM

The key takeaway is that it (FM’s relief package) will provide a solid support to rural and semi-rural economy due to the high amount of benefit in terms of food, cash in hand and job safety. Regarding the market, it will provide safety to defensive stocks such as staple industries, but does not provide any relief to corporates like banks, hospitality and others. It seems that the majority of the benefits announced is factored in the market given more than 15 per cent bounce from the recent low. The recovery of the market will continue if a strict lockdown system is implemented in the developed markets and the number of new virus cases reduces

- Vinod Nair, Head of Research at Geojit Financial Services

03:45 PM

Through today’s announcements the Government has made provisions to ensure that families belonging to poor and lower to middle income are able to carry out their daily lives smoothly. However we await relief measures for corporate India as well as small entrepreneurs, start ups, etc. The move to lockdown is well acclaimed , the measures announced today are timely and appropriate . We anticipate the rest of the economic packages and hope they are designed to overcome the disruptions in the rest of society

- Jaspal Bindra, Executive Chairman, Centrum Group

03:43 PM

Nifty Bank posts worst series in history, down 35%

Nifty Bank posts worst series in history, down 35%
03:41 PM

CLOSING BELL: Sensex extends rally to third day, surges 1,411 points; Nifty ends March F&O expiry above 8,600

This was the third straight day of gains for benchmark indices. Only four Sensex stocks ended in the red. IndusInd Bank turned out to be the topmost gainer.
CLOSING BELL: Sensex extends rally to third day, surges 1,411 points; Nifty ends March F&O expiry above 8,600
02:35 PM

FM’s announcements are focused mostly towards rural poor. Positive for consumers as a theme but mostly low-priced products. Rs1.7 lakh crore is about 0.8% of GDP. Collapse of demand, as was being feared by many, looks unlikely. So the period of lockdown may not be extended. These measures, if effectively and quickly implemented, would make the total shutdown more complete. This is the biggest positive for listed companies.

- Sujan Hajra, Chief Economist and Executive Director, Anand Rathi

02:23 PM

Rupee rises 84 paise against USD after govt announces welfare measures to fight COVID-19

The Indian rupee appreciated further by 84 paise to 75.10 against the US dollar in intra-day trade on Thursday after Finance Minister Nirmala Sitharaman announced various welfare measures to fight the coronavirus pandemic.
01:58 PM

Government will pay the EPF contribution both of the employer and employee (total 24%) for the next three months: FM

01:47 PM

Under PM Garib Kalyan Anna Yojna, 80 crore poor people will get additional 5kg each of wheat/rice each month for free

- Finance Minister

01:47 PM

People over 60 years, widows and disabled will be paid Rs 1,000 ex-gratia in two instalments

People over 60 years, widows and disabled will be paid Rs 1,000 ex-gratia in two instalments
01:34 PM

We shall provide Rs 50 lakh per person for medical insurance cover for frontline workers -- doctors, medical professionals, sanitation worlers

- Finance Minister

01:33 PM

FM announces Rs 1.7 lakh crore package for poor

FM announces Rs 1.7 lakh crore package for poor
01:33 PM

Govt announces immediate relief of poor, migrant workers

01:32 PM

One set of measures relate to cash transfer, and second relate to food security: FM

01:29 PM

We have come with a package which will immediately help poor: Nirmala Sitharaman, Finance Minister

01:22 PM

MCX and ICEX cut trading hours to 5pm from 30 March to 14 April

01:06 PM

Fiscal stimulus world over

Fiscal stimulus world over
12:56 PM

Coronavirus to impact India's economic growth "severely": D&B

Coronavirus will impact India's economic growth "severely", as the COVID-19 lockdown is causing significant disruption across multiple sectors, including manufacturing, oil, financial, among others, says a report.

According to Dun & Bradstreet's latest Economy Forecast, the probability of countries entering into recession and companies going bankrupt has increased and India is not likely to "remain decoupled" from the global meltdown.
12:53 PM

If the market is moving towards flight to safety, then clearly Reliance is on the top of the list for a flight to safety because of several factors. Its operations are significantly vertically and horizontally integrated. So from being a global giant integrated operations and fairly strong cash flows as well, you would have seen last quarter they generated a free cash flow and they have done a lot of other things to mitigate in advance potential cash flow issues as well.

- Jal Irani

11:51 AM

BSE Finance top sectoral gainer on BSE, rallies over 7%

BSE Finance top sectoral gainer on BSE, rallies over 7%
11:49 AM

MARKET NOW: All sectoral indices trade in the green

11:48 AM

PMO Source: FM will announce economic stimulus package at 1 om today

11:41 AM

JUST IN: FM SITHARAMAN PRESS CONFERENCE AT 1 PM

JUST IN: FM SITHARAMAN PRESS CONFERENCE AT 1 PM
11:35 AM

I always maintained that Reliance has many options to reduce its debt and they will explore all those options. So in case they are unable to get a partner for the refining business, there are other businesses that they can get partners for or sell minority or strategic stakes. At the same time, lower interest rates will also benefit that company because that is going to be the first step which RBI will take and globally also, interest rates have come off significantly.

- Dipan Mehta, Founder & Director, Elixir Equities

11:33 AM

RBI enhances amount for Repo auction of March 26 to Rs 50,000 cr

RBI enhances amount for Repo auction of March 26 to Rs 50,000 cr
11:20 AM

Vodafone Idea, YES Bank, SBI among most active stocks on NSE

Price as on 26 Mar, 2020 11:20 AM, Click on company names for their live prices.
11:06 AM

ICICI Bank jumps most in two years

10:31 AM

SENSEX RECLAIMS 30,000!

SENSEX RECLAIMS 30,000!
10:27 AM

IndusInd Bank shares locked in upper circuit

Price as on 26 Mar, 2020 10:27 AM, Click on company names for their live prices.
10:24 AM

Despite a 1,500-pt rally on Sensex, 186 stocks scaled 52-week lows on BSE

Despite a 1,500-pt rally on Sensex, 186 stocks scaled 52-week lows on BSE
10:09 AM

BULLS RULE STREET: Sensex's stellar 1,100 point rally in early morning session

BULLS RULE STREET: Sensex's stellar 1,100 point rally in early morning session
10:07 AM

Top Sensex gainers in morning session

Price as on 26 Mar, 2020 10:07 AM, Click on company names for their live prices.
09:26 AM

Volatility for the currency could drop ahead of the important RBI policy statement that is scheduled next week. Hopes are that the central bank could consider cutting rates and adopt for more easing measures. We expect the rupee (Spot) to quote in the range of 75.50 and 76.50

- Motilal Oswal Financial Services

09:22 AM

JUST IN: US Senate passes record $2 tn coronavirus stimulus bill

09:19 AM

OPENING BELL: Sensex rises 450 points, Nifty tops 8,400; Infosys, Sun Pharma gain 4% each

OPENING BELL: Sensex rises 450 points, Nifty tops 8,400; Infosys, Sun Pharma gain 4% each
09:03 AM

Pre-open session: Sensex surges 790 pts, Nifty tops 8,400; rupee trades at 75.88 against US dollar

08:44 AM

Singapore trading sets stage for negative start

Nifty futures on the Singapore Exchange traded 68.50 points or 0.82 per cent lower at 8,311.50, indicating a negative start for Dalal Street.
08:44 AM

Tech view: Nifty above 5-DEMA, gains ahead

The 50-pack index not only closed above its 5-Day EMA of 8,254, but also bridged the bearish gap in the 8,159-8,178 zone, which analysts say is a positive sign. “A phase of relief rally seems to be unfolding. Once the index sustains above the 8,300 level, one can expect a larger recovery towards 9,000 level,” Shah said.
08:43 AM

Market-wide rollovers at 72%

The market-wide rollovers stood at 72 per cent till Wednesday. Stock futures rollovers stood at 78 per cent compared with an average rollovers of 72 per cent in the last three F&O series. Nifty futures rollovers stood at 5 per cent which is a tad lower than the average rollovers of 53 per cent seen in the last three series, an Edelweiss report suggests.
08:43 AM

Asian shares off to cautious start

Asian stock markets made a cautious start on Thursday following two days of rallies. Australia's S&P/ASX 200 index rose 1.5 per cent in early trade - its third positive start in as many sessions. Japan's Nikkei fell 2.2 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent.
08:43 AM

Oil prices flat in early trade

Oil prices were mixed on Thursday following three days of gains, with the prospect of rapidly dwindling demand due to coronavirus travel bans and lockdowns offsetting hopes a US $2 trillion emergency stimulus will shore up economic activity. WTI crude futures slipped 4 cents, or 0.2 per cent, to $24.45 as of 0018 GMT, while Brent crude futures rose 12 cents, or 0.4 per cent, to $27.51.
08:42 AM

US stocks settled mixed

The Dow Jones Industrial Average increased 495.64 points, or 2.39 per cent, to 21,200.55. The S&P 500 rose 28.23 points, or 1.15 per cent, to 2,475.56. The Nasdaq Composite Index was down 33.56 points, or 0.45 per cent, to 7,384.30.
08:42 AM

US stimulus vote delayed

Senate vote on a $2 trillion stimulus package was delayed as key lawmakers in both the Democratic and Republican parties objected to various measures included in the bill. The issue is in the process of being resolved and would likely clear the way for prompt approval of the measure, Senator Lindsey Graham said on Wednesday.
08:42 AM

India stimulus package likely by end of week

The much-awaited economic stimulus package is likely to be finalised by the end of this week, sources told ET NOW. The government and the Reserve Bank of India are in talks to raise borrowing for the next financial year, sources added. The central bank may be asked to directly buy government bonds, they said.
08:41 AM

FPIs sell Rs 1,893 crore worth of stocks

Net-net, foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 1,893 crore on Wednesday, data available with NSE suggested. DIIs were net buyers to the tune of Rs 737.98 crore, data suggests.
08:41 AM

Sensex, Nifty on Wednesday

At close, the 30-share pack Sensex was up 1,862 points or 6.98 per cent at 28536 while broader NSE Nifty jumped 497 points to 8,298.Investors got richer by Rs 4.70 lakh crore as total market capitalisation of the BSE-listed firms jumped to nearly Rs 1,08,40,165.20 crore.
08:38 AM

Good morning, dear reader! Here's something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day
Have something to say? Post your comment

Comments are moderated and will be allowed if they are about the topic and not abusive.

Characters remaining (1500)

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service

^Go to Top