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Sensex closes 883 pts lower, Nifty at 14,359; Pharma marginally positive

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Market closing: Benchmark Indian equity indices closed broke over 1.5% lower on Monday. (PTI)

  • Market closing: The Sensex closed at 47,949.42, down 882.61 points, or 1.81%, while the Nifty was at 14,359.45, down 258.40 points, or 1.77%. All sectors, except pharma, closed in red

Benchmark Indian indices were down over 1.5% at close on Monday. Asian markets rose on Monday amid recovery hopes for the coronavirus-battered US economy. Shanghai finished 1.5% up and Hong Kong ended 0.5% higher, despite China's first-quarter economic growth data skating under market expectations at the end of last week. Tokyo finished the day flat after a lacklustre session, with investors searching for new purchase cues.

19 Apr 2021, 03:47 PM IST Market closing

The Sensex recovered from a day’s low of 47,362.71 to close at 47,949.42, down 882.61 points, or 1.81%, while the Nifty was at 14,359.45, down 258.40 points, or 1.77%. Among broader indices, the BSE midcap and smallcap indices closed 1.93% and 1.64% lower, respectively. The Nifty midcap100 and smallcap100 closed at 2.12% 2.40% lower, respectively. Realty, banks, financials and auto sectoral indices were the top drags. Except Dr Reddy and Infosys, all shares closed in red on the 30-share Sensex on Monday.

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Sensex at close
19 Apr 2021, 03:25 PM IST Pharma improves marginally

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Nifty sectoral indices
19 Apr 2021, 03:02 PM IST Top gainers at this hour on Nifty

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Nifty top gainers
19 Apr 2021, 02:47 PM IST Northern Arc raises ₹40 cr debt from Kotak Mahindra Bank to help small businesses

To support small businesses and households hit by the pandemic, digital debt platform Northern Arc Capital has raised 40 crore debt from Kotak Mahindra Bank. The debt is backed and partly guaranteed by the Michael & Susan Dell Foundation and the Rockefeller Foundation, it said.

The money will be lent to small businesses, micro-entrepreneurs and under-banked households with a monthly household income of under 25,000, Northern Arc, formerly IFMR Capital Finance, said on Monday. (PTI)

19 Apr 2021, 02:35 PM IST Infosys to collaborate with Copenhagen Fintech

Infosys was trading at 1,372.85 apiece, up 20.30 points, or 1.50%) at 2:34 pm. Fintech innovation cluster Copenhagen Fintech has announced a collaboration with Infosys to strengthen connections across the innovation ecosystem

and support the development of new and compelling fintech solutions for the global financial services industry, according to a regulatory filing.

19 Apr 2021, 02:20 PM IST EU official looks to align With India on 5G to protect democracy

The European Union will discuss 5G technology rollouts and the establishment of global security standards when leaders meet with India next month, as concerns grow about the dominance of Chinese telecom giants.

Europe wants to work with democratic partners including India to establish open and transparent standards as nations prepare to move to the new security protocol that should be part of every 5G value chain, Margrethe Vestager, the European Union’s antitrust chief said in an interview. (Bloomberg)

19 Apr 2021, 02:15 PM IST Sebi to auction PVP Global Ventures' property on May 12

Markets regulator Sebi on Monday said it will auction a property of PVP Global Ventures at a reserve price of 22.55 crore on May 12, to recover dues.

The property to be put on sale is a vacant land situated in Telangana, the Securities and Exchange Board of India (Sebi) said in a notice. (PTI)

19 Apr 2021, 02:06 PM IST Sensex heatmap

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Sensex post noon
19 Apr 2021, 01:58 PM IST Jubilant Pharma develops oral formulation of remdesivir

Jubilant Pharma on Monday announced that it has developed a novel oral formulation of Remdesivir, which, the company said, is likely to ease the capacity constraint that injectable formulation faces and ensure wider and timely availability for covid-19 patients. (Read more)

19 Apr 2021, 01:52 PM IST ICICI Lombard General insurance trades lower

Non-life insurer ICICI Lombard General Insurance was trading at 1,370.00 apiece, down 46.95 points, or 3.31%. The insurer reported a 22.61% growth in net income to 345.68 crore for the March quarter, on the back of rise in gross direct premium income. It had posted a net profit of 281.93 crore in the year-ago period, the company said in a regulatory filing.

19 Apr 2021, 01:43 PM IST Crude oil futures drop on low demand

Crude oil futures on Monday fell 0.11 per cent to 4,733 per barrel as participants reduced their positions on low demand.

On the Multi Commodity Exchange, crude oil for May delivery eased by 5, or 0.11 per cent, to 4,733 per barrel with a business volume of 4,982 lots.

However, West Texas Intermediate crude oil was trading 0.14 per cent lower at USD 63.04 per barrel, while Brent crude was quoting 0.21 per cent down at USD 66.63 per barrel in New York. (PTI)

19 Apr 2021, 01:34 PM IST Banking stocks in red

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BSE Bankex
19 Apr 2021, 01:03 PM IST Investors' wealth tumbles over ₹3.70 lakh cr as markets crack

Investors' wealth in morning trade on Monday tumbled over 3.70 lakh crore as markets went into a tailspin amid record surge in coronavirus cases in India.

The 30-share BSE benchmark index tanked 1,469.32 points to 47,362.71 in early trade. Following the massive selloff, the market capitalisation of BSE-listed companies declined by 3,70,729.4 crore to 2,01,60,016.60 crore in morning trade. IndusInd Bank, Axis Bank, Bajaj Auto, SBI and ICICI Bank were the biggest drags among the BSE 30-share frontline companies' list. (PTI)

19 Apr 2021, 12:53 PM IST SC orders halt on all HC proceedings in the Amazon-Future case over ₹24,713 cr deal with RIL

The Supreme Court on Monday stayed any further proceedings both before any single judge or any division bench of Delhi high court in the high-profile legal case between American e-commerce giant Amazon.com NV Investment Holdings LLC and Kishore Biyani-led Future Group over a proposed 24,713 crore asset sale deal between Future and Reliance Industries Ltd. A bench comprising Justices RF Nariman, BR Gavai and Hrishikesh Roy passed the order in response to a special leave petition that was filed by Amazon on 8 April, following a division bench order of the Delhi high court that had allowed Future Group to proceed with the 24,713 crore deal with RIL until the Supreme Court decides otherwise.

19 Apr 2021, 12:45 PM IST Ind-Ra assigns ratings to Sobha Ltd

India Ratings and Research has assigned Sobha Ltd a long-term issuer rating of ‘IND AA-’. The outlook is stable. The rating on term loans is IND AA-/Stable, on fund-based working capital limits is INDAA-/Stable/INDAl +. The rating on non-fund-based working capital limits is INDAA-/Stable/INDAl +.

19 Apr 2021, 12:32 PM IST Delhi under lockdown till 26 April

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19 Apr 2021, 12:31 PM IST Govt of Ghana to acquire 100% stake in AirtelTigo

The government of Ghana, Bharti Airtel and Millicom International Cellular SA announced execution of the definitive agreement for transfer of 'AirtelTigo' to Government of Ghana, on a going concern basis. At 11:51 am, shares of Bharti Airtel fell 2.62% to 526.40 on BSE, while the benchmark index, Sensex fell 2.08% to 47,815.15.

19 Apr 2021, 12:23 PM IST Crypto stock mania tested by sliding prices, slump in Bitcoin

A drop in cryptocurrency-linked stocks in the wake of Bitcoin’s slide and Coinbase Global Inc.’s choppy debut is stirring a rallying cry from optimists who reject fears that the sector has peaked.

A global, Bloomberg-curated basket of equities linked to crypto trading or Bitcoin mining fell some 9% over the past week, paring 2021’s climb to about 130%. A weekend Bitcoin plunge rattled crypto mania, but the token has since pared some losses and remains up 690% over the past year. (Bloomberg)

19 Apr 2021, 12:09 PM IST The key takeaways from Nestle India’s CY20 annual report

Despite the covid-19 pandemic disruptions, Nestle India Ltd’s shares have appreciated by around 24% in calendar year 2020. The fast-moving consumer goods’ (FMCG) company follows a January-December financial year.

The company’s total operating revenues in 2020 increased by almost 8% over the same period last year to 13,350 crore. Among the segments, in 2020, milk products & nutrition contributed 46.3% of the total revenues. Prepared dishes and cooking aids; powdered and liquid beverages; and confectionery accounted for 29.4%, 11.1% and 13.2% of the last year’s revenues, respectively. (Read here)

19 Apr 2021, 12:01 PM IST Delhi likely to be under curfew for seven days. Announcement expected shortly.

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19 Apr 2021, 11:44 AM IST HCL Tech signs multi-million dollar deal with JD Trucks

HCL Technologies has signed a multi-million dollar digital transformation and hybrid cloud contract with UD Trucks, a Japanese commercial vehicle solutions provider. HCL will deliver end-to-end IT transformation spanning across digital platforms, agile digital application development, migration, support and maintenance and digital workplace services.


19 Apr 2021, 11:33 AM IST Rupee falls to 74.87 per dollar in early trade

The rupee opened lower at 74.77 against the US dollar on Monday as compared to Friday's close of 74.35 against the dollar. The domestic currency continued the downward trend as it fell 52 paise to trade around 74.87 against US dollar in the early session. (Read here)

19 Apr 2021, 11:22 AM IST Nifty Bank index sheds more than 4%

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Nifty Bank index
19 Apr 2021, 11:06 AM IST Centre working together with states for lives and livelihoods: FM

Union Finance Minister Nirmala Sitharaman today spoke to various business and Chamber leaders and took their inputs on industry and association-related matters. " (Read more)

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19 Apr 2021, 10:53 AM IST Angel Broking DVP- Equity Strategist Jyoti Roy on HDFC

"HDFC Bank reported a 12.6% year-on year (y-o-y) increase in net interest income to 17,120 crore. While interest income for the quarter was up by 1.8% y-o-y interest expended was down by 9.4% y-o-y. NII (net interest income) growth for the quarter was driven by advances growth of 14.0% y-o-y to 11.32 lakh crore. While reported NIM (net interest margin) for the quarter stood at 4.2%. Other income for the quarter was up by 25.9% y-o-y to 7,594 crore. Cost to income for the quarter stood at 37.2% down by ~183 bps y-o-y. Pre provisioning profits for the quarter was up by 19.9% y-o-y to 15.533 crore. Provisions for the quarter were up by 24.0% y-o-y as the company made additional provisioning of 1,300 crore during the quarter as a precautionary measure. Profits for the quarter was up by 18.1% y-o-y to 8,187 crore. Deposits for the quarter were up by 16.3% y-o-y while share of low cost CASA deposits increased by 380bps y-o-y to 46.0%. Overall, HDFC Bank delivered another solid quarter of earnings growth with GNPA (Gross non-performing assets) and NNPA (net non-performing assets) at 1.32% as compared to 1.38% last quarter on a pro forma basis. Net NPA for the quarter stood at 0.4% while PCR (provision coverage ratio) stood at 70%. At current levels the stock is trading at P/BV (price to book value ratio) of 2.9xFY23 book which is below historical average. Post the Q4FY21 numbers we continue to maintain our positive stance on HDFC Bank and it remains one of our top picks in the large cap banking space."


19 Apr 2021, 10:43 AM IST All sectors in red

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19 Apr 2021, 10:33 AM IST HDFC Bank won’t be unscathed from second wave despite healthy Q4

India’s most valued lender HDFC Bank’s tough times have begun with FY22 even as its fourth quarter metrics strengthened the case for its premium valuation.

The bank reported an 18% growth in its net profit despite increase in provisions. The net profit growth was powered by a 20% growth in operating profit which in turn was due to a healthy 14% loan growth. Retail loan book grew by 7% while corporate loan portfolio expanded by a faster 21%. (Read here)

19 Apr 2021, 10:12 AM IST Macrotech Developers falls 10% on debut

Macrotech Developers Ltd, earlier known as Lodha Developers, debuted on the stock exchanges on Monday, listing at a nearly 10% discount to the issue price. Its intial public offerring subscribed 1.4 times last week supported by robust responce by foreign investors. The stock oepned at 439 on BSE and fell as much as 9.67%. It touched a high and a low of 463.70 and 421.15 respectively. At 10.05am, the scrip was trading at 457.55 on BSE, down 4% from its issue price of 486.

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Macrotech Developers debuts
19 Apr 2021, 10:01 AM IST Covid update: India reports record 2.73 lakh cases, highest ever deaths in a day

India reported its highest-ever single-day spike of COVID-19 cases with over 2.73 lakh new cases and more than 1,600 deaths in the last 24 hours, according to the Union Health Ministry on Monday. (Read here)

19 Apr 2021, 09:54 AM IST Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments on market opening

"The markets are finding it hard to establish a trend. It is not being able to get past 14,900-1,5000 on the upside and neither is it being able to break the 14,200 level on a closing basis. If we break 14,200 on a closing basis, we can slide to 13,800-13,900. For the time being, the upside seems to be capped at 15,000."

19 Apr 2021, 09:44 AM IST Crude oil falls amid rising covid cases in India, other countries

Oil prices fell on Monday amid mounting concerns that surging caseloads of coronavirus infections in India and other countries will lead to stronger measures and hit economic activity, along with demand for commodities such as crude. Brent crude was down 43 cents, or 0.6%, at $66.34 a barrel by 0139 GMT, after rising 6% last week. U.S. oil was down 42 cents, or 0.7%, at $62.71 a barrel, having gained 6.4% last week. (Read here)

19 Apr 2021, 09:31 AM IST All sectors in red

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Nifty sectoral indices
19 Apr 2021, 09:29 AM IST Market opening

Benchmark Indian indices opened lower on Monday. The Sensex opened at 47,940.81, down 891.22 points or 1.83%, while the Nifty was at 14,306.60, down 314.40 points or 2.15%. The volatility index shot up to 10.93% around 9:29 am. All stocks on the 30-share Sensex opened in red on Monday.


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Sensex at open
19 Apr 2021, 09:03 AM IST Market pre-opening

The Sensex was at 48,448.05, down 383.98 points or -0.79%, while the Nifty was at 14,617.85, up 36.40 or 0.25% at market pre-opening on Monday. The benchmark indices are expected to have a volatile start as indicated by the SGX Nifty.

19 Apr 2021, 08:55 AM IST Company earnings due Monday

Among key companies, ACC, ICICI Prudential Life Insurance Company and Bajaj Consumer Care will announce their quarterly results on Monday.

19 Apr 2021, 08:42 AM IST Gold firms as softer US dollar, yields lift appeal

Gold edged higher on Monday, hovering near a seven-week peak hit in the previous session, as a weaker dollar and lower US Treasury yields supported prices. Spot gold was up 0.1% at $1,777.33 per ounce by 0238 GMT, after hitting its highest since Feb.25 at $1,783.55 on Friday. U.S. gold futures edged 0.2% lower to $1,777. (Reuters)

19 Apr 2021, 08:25 AM IST Market outlook

Markets are likely to be volatile on Monday while SGX Nifty suggest a weak opening. Rise of covid cases in India at an alarming rate have made investors nervous. On Friday, the BSE Sensex ended at48,832.03, up 28.35 points or 0.06%. The Nifty closed at 14,617.85 up 36.40 points or 0.25%. (Read here)

19 Apr 2021, 08:15 AM IST Stocks to Watch

Future Retail, ICICI Lombard, HDFC Bank, PVR, Jaypee Infratech, among other stocks may be in the news today. (Read here)

19 Apr 2021, 08:02 AM IST Macrotech Developers to make its stock market debut today

Macrotech Developers will list its equity shares on the Indian stock exchanges today. The initial public offering (IPO) of Macrotech Developers, aimed to raise 2,500 crore through fresh issue of shares, had opened on April 7, 2021 and closed on April 9, 2021. Formerly known as Lodha developers, the real estate company's issue price was fixed at 483- 486 per share. (Read here)

19 Apr 2021, 07:49 AM IST India may build new coal plants due to low cos


India may build new coal-fired power plants as they generate the cheapest power, according to a draft electricity policy document seen by Reuters, despite growing calls from environmentalists to deter use of coal.

Coal's contribution to electricity generation in India fell for the second straight year in 2020, marking a departure from decades of growth in coal-fired power. Still, the fuel accounts for nearly three-fourths of India's annual power output. (Reuters)

19 Apr 2021, 07:35 AM IST Mixed start for Asian stocks

Asian shares opened mixed Monday and US equity futures dipped after stocks ended the week at all-time highs, with investors focusing on the economic recovery and upcoming earnings.

Japan’s benchmark edged lower, while Australia and South Korea were in the green after the S&P 500 Index capped its fourth straight weekly advance. Treasury yields steadied well below recent peaks in U.S. trade. Crude oil slipped and the dollar steadied from a week of losses.

SGX Nifty was at 14,476.00, down 177.75 points, or 1.21% at 7:28 pm IST.

S&P 500 futures fell 0.3% as of 9:17 a.m. in Tokyo. The S&P 500 Index climbed 0.4%.

Topix index fell 0.2%.

Australia’s S&P/ASX 200 Index rose 0.2%.

Kospi index rose 0.1%.

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