Markets

Rupee traded for the first time on Tuesday, after RBI revised timings for debt markets because of the lockdown
Rupee traded for the first time on Tuesday, after RBI revised timings for debt markets because of the lockdown

Rupee ends higher against the dollar

  • Rupee ended at 75.63 against the dollar, up 0.44%
  • The 10-year government bond yield closed at 6.42% up 11 basis points from its previous close

Markets in India surged nearly 9%, the biggest single-day gain since 18 May 2009 (Mint)
Most markets in the US, Europe and other major economies have experienced declines that are broadly consistent with that of BSE
Most markets in the US, Europe and other major economies have experienced declines that are broadly consistent with that of BSE

Market recovery depends on biz that will survive

The recent stock market crash is one of the first instances of a global collapse of equity valuations caused by a public health emergency. India’s benchmark indices have also moderated significantly. Mint explores the collapse of capital markets in India.

The bigger problem for auto component firms is the uncertainty on imports. (Reuters)
A SpiceJet passenger Boeing 737-800 aircraft takes off from Sardar Vallabhbhai Patel international airport in Ahmedabad. (REUTERS)
A SpiceJet passenger Boeing 737-800 aircraft takes off from Sardar Vallabhbhai Patel international airport in Ahmedabad. (REUTERS)

SpiceJet investors banking on a bailout that secures their interest

  • The government may need to go beyond providing guarantees to lenders  and  infuse equity if keen on airline’s survival
  • Even after the lockdown lifts, airlines will be operating at far lower load factors and generating cash will be a challenge

Nifty 50’s Q4 revenue could dip about 7% from a year ago; earnings about 16%, say analysts. (Mint)
Sebi on 20 March unveiled a series of measures to curb extreme volatility being witnessed in Indian markets (Photo: Mint)
Sebi on 20 March unveiled a series of measures to curb extreme volatility being witnessed in Indian markets (Photo: Mint)

Speculative trade sees a dip as Sebi curbs take effect

  • The average daily exchange turnover in derivatives, or F&O segment in the market, has halved since changed rules on enhanced margins and curbs on short-selling took effect
  • Traders also opted for physical delivery, signalling most trades were genuine and not based on speculation

(Photo: Reuters)
The blow of the lockdown in March meant that AUM growth is reduced to 27% on a year-on-year basis in Q4.
The blow of the lockdown in March meant that AUM growth is reduced to 27% on a year-on-year basis in Q4.

As EMIs get quarantined by covid-19, Bajaj Finance hopes for sunshine

  • Bajaj Finance has lost 350,000 customers and its AUM has eroded by 4,750 crore (3.2%) during the lockdown
  • The stock has lost over 50% of its value in the last two months as the virus outbreak was expected to derail the EMI-induced spending

Photo: Mint
Photo: Mint

Bulls fight back as Sensex reclaims 30,000; pharma, banking stocks shine

  • Sensex jumped 2,476 points or 9% to close at 30,067. Nifty rose 708 points or 8.7% to close at 8,792.
  • Nifty Private Bank index surged over 1000 points to close 11% higher followed by Nifty Pharma, up 10.4%.

Photo: Bloomberg
Top stocks that could be in focus in today's trade.
Currency trader watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, (AP)
Whenever China’s imported price falls to anti-dumping duty level, domestic HRC price also dips, anecdotal evidence shows, according to analysts. (Mint)
Whenever China’s imported price falls to anti-dumping duty level, domestic HRC price also dips, anecdotal evidence shows, according to analysts. (Mint)

Metal and auto stocks were worst hit in FY20 amid broad sell-off

  • Benchmark indices Sensex and Nifty, in contrast, lost 23.8% and 26.03%, respectively, in FY20, the worst since FY09
  • Domestic demand outlook remains weak with construction and auto sectors facing demand headwinds

Shares of cement firms reflect the change in business conditions, declining sharply along with the broader market. (Pradeep Gaur/Mint)
Shares of cement firms reflect the change in business conditions, declining sharply along with the broader market. (Pradeep Gaur/Mint)

Demand on shaky ground but lower crude softens blow for cement firms

  • Labour issues and lower spending on infrastructure by government may dash hopes of better capacity utilization rates
  • Meanwhile, lower input costs owing to a decline in crude oil prices would bring some cushion to operating profits

This time around, valuations have fallen from 26 times earnings to 14.7 times in the past two months. (Mint)
(Photo: Reuters)
The current crisis seems to be a blessing in disguise for these brokerages, as their number of clients as well as orders increased in March, (AP)
The current crisis seems to be a blessing in disguise for these brokerages, as their number of clients as well as orders increased in March, (AP)

Online brokerages see spurt in business amid nationwide lockdown

  • Upstox said it is witnessing unprecedented increase in trading volumes and demand for opening new accounts
  • Stock markets markets across the world witnessed high volatility in March amid concerns of coronavirus pandemic and its impact on the global economy

IUPL and Sharda Cropchem have a direct presence in overseas agriculture inputs  markets, exposing them to disruptions in demand in those geographies. (Photo: HT)
IUPL and Sharda Cropchem have a direct presence in overseas agriculture inputs markets, exposing them to disruptions in demand in those geographies. (Photo: HT)

UPL, Sharda’s global presence a drawback as virus disrupts trade

  • Both companies have a direct presence in overseas markets, exposing them to disruptions in demand
  • Companies focussed on the domestic market such as Rallis India and Dhanuka Agritech fared relatively better

The Reserve Bank of India (RBI) may face the challenge of a lack of clear visibility on inflation. (Aniruddha Chowdhury/Mint)
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