Nifty Reclaims 8,550, Ends 2019-20 With Loss Of 26%: 10 Things To Know



Nifty Reclaims 8,550, Ends 2019-20 With Loss Of 26%: 10 Things To Know

Domestic stock markets ended nearly 4 per cent higher on Tuesday tracking gains in Asian peers, as the country entered a seventh day of a 21-day nationwide lockout to fight the spread of the deadly coronavirus pandemic. The S&P BSE Sensex index rose as much as 4.68 per cent – or 1,330.56 points – to touch 29,770.88 during the session, and the broader NSE Nifty benchmark soared to as high as 8,678.30, up 4.12 per cent (341.4 points) from the previous close, before giving up some of those gains by the end of the session. Gains across sectors – led by oil & gas, consumer goods and metal stocks – supported the upmove.

  1. The Sensex ended 1,028.17 points – or 3.62 per cent – higher at 29,468.49, and the Nifty settled at 8,597.75, up 316.65 points (3.82 per cent) from the previous close.

  2. As many as 40 stocks in the 50-scrip Nifty basket ended higher. Top percentage gainers were Bharat Petroleum, Britannia, GAIL, ONGC, UPL, Hindalco, Reliance Industries and ITC, finishing the session with gains between 6.72 per cent and 13.56 per cent each. 

  3. Reliance Industries (ending up 7.76 per cent), HDFC Bank (3.48 per cent), HDFC (4.34 per cent) and ITC (7.84 per cent) together accounted for a gain of more than 550 points in the Sensex.

  4. The gains were broad-based, with the Nifty Bank, Metal and Fast-Moving Consumer Goods indices ending 1.93 per cent, 5.19 per cent and 5.76 per cent higher respectively. Mid- and small-cap segments also rose, with the S&P BSE Midcap and Smallcap gauges ending 2.49 per cent and 2.98 per cent higher respectively.

  5. “There are also expectations of more stimulus measures from different governments and central banks. India has also announced quite a number of relief packages to help tide over the disruption caused by the virus,” said Rusmik Oza, senior vice president at Kotak Securities.

  6. The Nifty Energy index – comprising stocks of 10 companies in the petroleum, gas and power sectors including Reliance Industries, GAIL and ONGC – closed 6.95 per cent higher, having risen as much as 7.45 per cent during the session.

  7. Global oil prices on Monday plunged to the cheapest level recorded in more than 17 years. Brent futures – the benchmark for international crude oil – fell 8.7 per cent to end at $22.76 a barrel – the lowest close since November 2002.

  8. Meanwhile, the National Stock Exchange’s India VIX index – which gauges the markets’ expectation of volatility in the near term – settled 10.29 per cent lower, after plunging as much as 11.52 per cent in intra-day trade. That indicated volatility cooled off, after days of surge. 

  9. Equities in other Asian markets managed a tentative rally with MSCI’s broadest index of Asia-Pacific shares outside Japan rising 1.1, and Japan’s Nikkei index firming up 1.0 per cent after a jittery start. South Korea added 2 per cent.

  10. China held out the hope of a rebound in activity even as other countries across the globe all but shut down. China’s official manufacturing purchasing managers’ index (PMI) bounced to 52.0 in March, up from a record-low 35.7 in February and topping forecasts of 45.0. E-Mini futures for the S&P 500 traded 0.6 per cent higher.


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