Sensex ends up nearly 500 points, Nifty above 11,300; ITC down 0.7%
8 min read.Updated: 04 Mar 2020, 03:48 PM ISTIshita Guha
Nifty Metal gains 5.6%, Pharma advances 5.1%, Nifty Bank settles 1% higher, Financial Services up 0.9%
BSE MidCap and SmallCap rise 1.8%, 1.3%, respectively
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03 Mar 2020, 03:52:18 PM IST
Sensex snaps seven-day losing streak
After falling for seven consecutive sessions and a day of volatile trade, the benchmark BSE Sensex ended in the positive zone today, tracking Asian peers. Global investor sentiment was buoyed after major central banks across the world indicated financial stimulus to contain the impact of the coronavirus epidemic. The Reserve Bank of India (RBI) also said it was ready to take appropriate actions to ensure orderly functioning of financial markets and preserve financial stability.
Sensex settled up 479.68 points, or 1.3%, at 38,623.70, while Nifty closed 170.55 points, or 1.5%, higher at 11,303.30.
03 Mar 2020, 03:30:08 PM IST
Most Asian shares end higher
Most Asian equities settled in the positive zone on hopes that major central banks across the globe would take coordinated monetary policy actions to deal with the likely economic impact of the coronavirus outbreak. SGX Nifty gained 1.4%, Korea's Kospi index edged up 0.6% and Shanghai's Composite index ended 0.7% higher. However, Japan's Nikkei 225 slipped 1.2%, while Hong Kong's Hang Seng index closed flat.
03 Mar 2020, 03:17:45 PM IST
All Nifty sectoral indices trade higher
03 Mar 2020, 03:12:05 PM IST
Mishra Dhatu declares interim dividend of ₹1 for FY20
The company's board has declared an interim dividend of ₹1 per equity share of face value of ₹10 each for the financial year ending March. The dividend will be distributed to shareholders on 14 March.
03 Mar 2020, 02:55:52 PM IST
All Sensex shares up, barring HDFC Bank, ITC
Sun Pharmaceutical Industries, Tata Steel, Ultratech Cement, Hero MotoCorp, HCL Technologies, Tata Consultancy Services, NTPC, Reliance Industries and Power Grid Corporation were among the top gainers on the Sensex.
03 Mar 2020, 02:41:59 PM IST
Voda Idea pays ₹3,043 crore as deferred spectrum charges
Vodafone Idea has paid ₹3,043 crore to the government towards deferred spectrum charges, television channel CNBC TV18 said quoting PTI. Shares of the telecom operator jumped 12.46% to ₹3.86 on the BSE.
03 Mar 2020, 02:33:39 PM IST
Narendra Modi on coronavirus - 'no need to panic'
03 Mar 2020, 02:18:54 PM IST
RBI ensures of financial stability amid coronavirus fears
03 Mar 2020, 02:03:08 PM IST
PNB Housing to raise ₹1,700 crore via QIP
The board of the housing finance company approved raising equity capital amounting to ₹1,700 crore through qualified institutional placement (QIP). The fundraising is subject to the approval of shareholders and regulators.
03 Mar 2020, 01:57:30 PM IST
Rupee crosses 73 vs US dollar
The Indian rupee today fell sharply against the US dollar, breaching the 73 mark. At day's low, the rupee fell to 73.08 against the US greenback, after it opened higher at 72.47 as compared to its previous close of 72.73.
03 Mar 2020, 01:52:28 PM IST
Centre suspends visas of travellers from Italy, S Korea
The government has suspended visas and e-visas granted on or before today (3 March) to all nationals of Italy, Iran, South Korea and Japan with immediate effect amid fears of rapid spread of Covid-19, commonly known as coronavirus, from these countries.
03 Mar 2020, 01:38:06 PM IST
Home First Finance Company receives SEBI nod for IPO
Home First Finance Company has got an approval from capital market regulator Sebi for its initial public offering (IPO). The company is expected to raise ₹1,500 crore through the public offer.
03 Mar 2020, 01:03:24 PM IST
Morgan Stanley maintains overweight on Sun Pharma
Shares of Sun Pharmaceutical Industries jumped more than 3.5% after investment bank Morgan Stanley maintained an overweight stance on the stock with a target of ₹530 per share.
03 Mar 2020, 12:55:16 PM IST
DGFT restricts exports of 26 APIs, formulations
The Directorate General of Foreign Trade (DGFT) has restricted the export of 26 active pharmaceutical ingredients (APIs), some vitamins and formulations with immediate effect. The restriction will be valid until further orders.
03 Mar 2020, 12:49:42 PM IST
Nifty Metal up nearly 4% led by Vedanta, Hindalco
03 Mar 2020, 12:36:54 PM IST
US Federal Reserve should cut rates: President Donald Trump
03 Mar 2020, 12:30:08 PM IST
Wabco India to have four-day working week in March
The commercial vehicle technology company said its Ambattur, Pantnagar, Lucknow and Jamshedpur plants will operate on four days in all weeks of March due to weak demand that has hurt the automobile industry and because of changes to its production schedule.
03 Mar 2020, 12:06:10 PM IST
GlaxoSmithKilne Pharma appoints Sridhar Venkatesh as MD
The pharmaceutical company today said it has appointed Sridhar Venkatesh as managing director and vice president effective 1 April. Venkatesh will succeed Annaswamy Vaidheesh who will retire on 31 March. Shares of the company were nearly flat at ₹1,303.80.
03 Mar 2020, 11:54:56 AM IST
BSE SmallCap up 0.3% at 13,640
03 Mar 2020, 11:46:22 AM IST
BSE Midcap up a marginal 0.3%
03 Mar 2020, 11:35:33 AM IST
It will require more than bravado to survive coronavirus: Anand Mahindra
"An interesting & brave reaction to Covid-19 (commonly known as coronavirus) that is making the Whatsapp rounds. True, we will survive this. But it will require more than bravado. We need to ensure that we all follow practices, which limit the import and spread of the virus," Mahindra Group chairman Anand Mahindra said on micro-blogging and social networking website Twitter.
03 Mar 2020, 11:26:02 AM IST
Cadila Healthcare slumps 2.6%
Shares of the pharmaceutical company slipped 2.6% to ₹243.10 on the BSE. The firm announced that it received an approval from the Drug Controller General of India (DCGI) to initiate Phase 1 clinical trials for
its investigational new drug (IND) ZYBK2, a new chemical entity (NCE) intended to treat rheumatoid arthritis (RA).
03 Mar 2020, 11:17:13 AM IST
All Nifty Pharma constituents trade higher; Cadila down
03 Mar 2020, 11:04:25 AM IST
Standard Chartered Plc shares up nearly 7%
Standard Chartered Plc announced that it has purchased 400,491
ordinary shares of $0.50 each from JP Morgan Securities Plc as per its 27-February share buyback programme. The stock was up 6.6% at ₹52.75.
03 Mar 2020, 10:59:07 AM IST
Rupee trades flat
The Indian rupee erased all gains from morning trade and was flat at 72.71 against the US dollar compared with the previous close of 72.74.
03 Mar 2020, 10:39:07 AM IST
Heavyweights HDFC Bank, Kotak Mahindra decline
On the Nifty 50 index, HDFC Bank, Kotak Mahindra Bank, State Bank of India and Axis Bank tumbled along with Titan Company and Bajaj Finserv.
03 Mar 2020, 10:33:34 AM IST
Pfizer hits 52-week high, rises nearly 5%
Shares of Pfizer rose nearly 5% on the BSE today to ₹4,468.70 after its parent Pfizer Inc said it has identified some antiviral compounds with potential as coronavirus treatments. The company hopes to draw results from the screening by the end of March. If any of the compounds are successful, the company may start testing them by the end of the year, television channel CNBC TV18 said, quoting Reuters.
03 Mar 2020, 10:20:45 AM IST
Future Consumer jumps over 8%
Shares of the company soared 8.06% to ₹13.40 as the management on Monday assured stakeholders that there is no material impact of the coronavirus outbreak on its business. The management also said "it is business as usual and there are no pressures or any invocation of pledge shares. The current pressure on the stock price is unfounded and is not inherent to the company's fundamentals.
03 Mar 2020, 10:01:11 AM IST
Vodafone Idea up 3.5%
Vodafone Plc global chief executive officer Nick Read plans to come to India on 6 March and has requested for a meeting with telecom minister Ravi Shankar Prasad, according to a Mint report. The meeting comes at a time when the company faces a survival crisis.
03 Mar 2020, 09:55:21 AM IST
BSE SmallCap advances 1.7% to 13,830
03 Mar 2020, 09:51:29 AM IST
L&T bags orders for power transmission business
The engineering and construction major has received orders for its power transmission and distribution business in Bangladesh, Nepal and Saudi Arabia. In India, the company has won an order to design and construct a 50 MW solar photovoltaic plant in Tamil Nadu.
03 Mar 2020, 09:46:11 AM IST
Piramal Enterprises surges over 5%
The Ajay-Piramal led company on Monday said it received $900 million (around ₹6,500 crore) on completion of divestment of stake in its healthcare insights and analytics business to US-based Clarivate Analytics. Shares of the firm jumped 5.2% to ₹1,428 on the BSE.
03 Mar 2020, 09:40:47 AM IST
Infosys shares up a marginal 0.8%
The IT major on Monday said it paid ₹6 lakh as compounding severance fees to former chief financial officer (CFO) Rajiv Bansal. This may finally settle the long-drawn severance pay row that had surfaced in 2016. Shares of the company rose 0.8% to ₹750.30 on the BSE.
03 Mar 2020, 09:36:08 AM IST
BSE Midcap rises 1.7% to 14,768
03 Mar 2020, 09:33:05 AM IST
Sun Pharm rises more than 3% on BSE
Shares of the pharmaceutical major advanced 3.3% in early deals on the BSE. The company reported a shortage of its generic version of hypertension drug pindolol in the US due to lack of pharmaceutical ingredients, but said the shortfall did not stem from China, according to a Reuters report.
03 Mar 2020, 09:28:23 AM IST
All Nifty shares up, barring Power Grid
JSW Steel, Zee Entertainment Enterprises, Vedanta, Eicher Motors and Sun Pharma are among the top gainers on the Nifty 50 index.
03 Mar 2020, 09:17:49 AM IST
All Nifty sectoral indices trade higher
03 Mar 2020, 09:04:30 AM IST
Rupee opens higher at 72.46
Indian rupee opened higher at 72.46 against the US dollar compared with the previous close of 72.73.
03 Mar 2020, 08:58:00 AM IST
Stocks that may be in focus today
Sun Pharma reported a shortage of its generic version of hypertension drug pindolol in the US due to lack of pharmaceutical ingredients, but said the shortfall did not stem from China, according to a Reuters report. Vodafone Idea, Infosys, Piramal Enterprises and Hero MotoCorp are among the other stocks that may be under the spotlight.
03 Mar 2020, 08:54:24 AM IST
SGX Nifty rises; Asian stocks climb up
SGX Nifty traded 0.2% higher in early deals. Japan's Nikkei 225 gained 0.05% in morning trade. Australia's S&P/ASX 200 jumped 1.9% to 6,510.90. South Korea's Kospi rose 1.5%. Hong Kong's Hang Seng edged up 0.6%, while the Shanghai Composite was up nearly 1.6%.
03 Mar 2020, 08:50:32 AM IST
Crude oil prices trade higher
Oil prices rose for the second consecutive day on expectations that central banks are likely to take financial measures to offset the impacts of the coronavirus outbreak. Prices were also supported by growing optimism that OPEC will order deeper output cuts this week. Brent crude rose $1.48 per barrel, or 2.5%, to $53.18 per barrel. US West Texas Intermediate (WTI) rose $1.33, or 2.8%, to $48.07 a barrel.
03 Mar 2020, 08:43:42 AM IST
Dow Jones surges 5.1%, S&P 500 up 4.6%
The Dow Jones Industrial Average jumped 5.1% , a gain of nearly 1,300 points, to end Monday's session at 26,703.32. The index had lost more than 12% last week. The broad-based S&P 500 bounced back 4.6% to close at 3,090.23, while the tech-rich Nasdaq Composite Index advanced 4.5% to 8,952.16.
03 Mar 2020, 08:41:24 AM IST
US stocks jump after worst week since financial crisis
After witnessing the worst week since financial crisis of 2008, benchmark Wall Street indices soared on Monday as investors cheered news that global finance heavyweights plan a coordinated response to contain the spread and economic impact of the coronavirus epidemic.