Here are the key highlights from today's trading session:

- Market snaps 4-day gaining streak, erases over 80 percent of last week's gains

- Frontline indices record the biggest single-day fall in two weeks

- Nifty declines 566 points to 9,294 and Sensex 2,002 points to 31,715

- Nifty Bank falls 1,791 points to 19,744 and Midcap 594 points to 12,908

- 46 Nifty stocks close in the red with financials and metals being top losers

- 8 Nifty stocks fall in double digits; ICICI, Hindalco, HDFC amongst top losers

- Pharma stocks outperform in a weak session; Cipla top Nifty gainer

- Bharti Airtel extends gains to 3rd session after signing 4G network deal with Nokia

- Reliance announces an investment of Rs 5,656 crore by Silver Lake in Jio Platforms

- Volatility Index, India VIX surges 28 percent to close around the level of 44

May 4, 2020 3:43 PM

Closing Bell: Sensex closes 2,000 points lower while Nifty ends near 9,300

Indian domestic market ended nearly 6 percent lower after dragged by private banks, IT and metal stocks. Global peers traded negatively as rising US-China tensions over the coronavirus and oil prices fell further turned investors cautious.

The S&P BSE Sensex closed 2,002 points or 6 percent lower at 31,715 while the Nifty index ended at 9, 293, down 566 points.

Cipla, Bharti Airtel, and Sun Pharma were the Nifty50 top gainers while Hindalco, ICICI Bank, Vedanta, Bajaj Finance and HDFC remained the index top losers.

Nifty Private Bank remained the worst-performing index, down by 8 percent. 47 out 50 index constituents ended with losses today.

May 4, 2020 3:38 PM

Reliance Industries' net debt to fall 67% post Silver Lake deal

Reliance Industries (RIL) net debt will fall 67 percent after the Silver Lake investment, which comes on the heels of the massive deal with Facebook and rights issue announcement during quarterly earnings.Get latest Business online at cnbctv18.com

May 4, 2020 3:22 PM

Millennials beware! Easy returns may be a thing of the past

The coronavirus lockdown has prompted all of us to sit back in our homes, reflect and catch up (digitally) with family and friends.

In my various interactions with youngsters, particularly on matters of investing, I recently came to a conclusion. The younger generation, or millennials as they are called, may not find it as easy to make handsome returns on their investments, as, say, the generation before.

I believe that this there-will-be-no-more-free-lunches rule applies across asset class. Worse, most youngsters may not know this.

Click here to read the historical track record for various asset classes and what may lie in store for them.

May 4, 2020 3:15 PM

Auto companies commence operations in a phased manner

Hero MotoCorp is commencing operations in a graded manner at three of its manufacturing plants – Gurugram and Dharuhera (both in Haryana), Haridwar (Uttarakhand) and additionally the Global Parts Center (GPC) at Neemrana in Rajasthan. These manufacturing plants reopen from today and production at these facilities will commence from Wednesday. Meanwhile, SML Isuzu received the State Government's permission to restart manufacturing operations at its plant with limited workforce effective from today.

May 4, 2020 3:02 PM

May 4, 2020 2:45 PM

Just In: ICICI Bank hits 10% lower limit; triggers temporary trading halt.

May 4, 2020 2:36 PM

Rupee Closing: Indian rupee has finished lower by 61 paise at 75.71 per dollar against Thursday's close of 75.10. Rupee erased earlier week's gains after the global sentiment turned bearish over US-China's rising tensions. US President Donald Trump said that it has 'evidence' that coronavirus came from a Chinese laboratory. After these, Indian as well as global markets tanked eroding massive investors' wealth.

May 4, 2020 2:27 PM

Rakesh Jhunjhunwala ups stake in Rallis India to 9.93% in March quarter

Ace investor Rakesh Jhunjhunwala increased his stake in Rallis India to 9.93 percent in the quarter ended March 2020. In the December quarter, he held a 9.79 percent stake in the company.

Buoyed by the investment, shares of the company rose 3.5 percent in intra-day trade post the announcement on Monday, in an otherwise weak market.

As per the shareholding pattern available on exchanges, Rakesh Radheshyam Jhunjhunwala owned 1.9 crore shares in December which were increased to 1.93 crore in the March quarter. Read more about his investments here!

May 4, 2020 2:14 PM

Facebook, Silver Lake deals indicate Reliance readying Jio for an IPO soon: Marcellus

Updated : May 04, 2020 10:50 AM IST Reliance Industries today said that private equity firm Silver Lake will invest Rs 5,655.75 crore in Reliance Jio Platforms The week before last Facebook said it will invest Rs 43,574 crore in Jio Platforms for a 9.99 percent stake.

May 4, 2020 1:52 PM

European markets decline as US-China tensions rise over coronavirus

European stocks traded sharply lower Monday on rising U.S.-China tensions around the source of the coronavirus outbreak. The pan-European Stoxx 600 fell 2.5 percent in early deals, with autos and oil and gas stocks each shedding 4.7 percent to lead losses as all sectors and major bourses slid into the red.

European stocks are following the negative trend set by their Asian counterparts Monday where markets traded lower in reaction to rising tensions between Washington and Beijing.

May 4, 2020 1:45 PM

Aurobindo Pharma gains 5% after the company receives final approval from the US Food & Drug Administration (US FDA) to manufacture and market Flucytosine Capsules, 250 mg and 500 mg.

May 4, 2020 1:26 PM

Silver Lake's investment will not operationally bring any benefit on the table, says Deepaj Jasani of HDFC Securities

Following the clue given by Reliance at the time of Facebook investment that it is in good shape to announce a similar-sized investment in the coming months, the investment by Silver Lake Partners to acquire 1.15 percent stake in Jio Platforms is welcome, said Deepak Jasani, Head of Retail Research at HDFC Securities.

The 12.5 percent higher valuation in this round may be due to much smaller investment by Silver Lake (compared to Facebook) and the fact that unlike Facebook they would operationally not bring any benefit on table. Also currently private equity investors seem to have more capital than they know what to do with. This announcement has helped to partly offset the negative effect on the stock price of subdued Q4FY20 results announced by the company on April 30.

May 4, 2020 1:18 PM

May 4, 2020 1:04 PM

Investment by Silver Lake in RIL's Jio is priced at a premium, says Vikas Halan of Moody's Investors Service

Vikas Halan, Senior Vice President of Corporate Finance at Moody’s Investors Service said that Silver Lake’s USD 746 million investment in Jio Platforms further illustrates Reliance Industries ability and willingness to monetize its digital services business and reinforce the company’s commitment to achieve a zero net debt position by 31 March 2021.

Investment by Silver Lake is priced at a premium to recently announced investment by Facebook Inc. (USD 5.8 billion) and establishes another pricing benchmark for Jio Platforms, said Halan.

This is credit positive as it enhances RIL’s already strong financial flexibility. Including the recently announced rights issue (USD 7 billion) and investments by Silver Lake and Facebook Inc, RIL has announced initiatives that could reduce net debt by about USD 13.6 billion from reported net debt of USD 21.4 billion as on March 31, 2020.

May 4, 2020 12:52 PM

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