Market at close on Friday

1. Market gives up early gains to end the trade mixed

2. Nifty slips 379 points from highs to close 19 points higher at 8,660

3. Sensex tanks1,310 points from highs to close 131 points lower at 29,816

4. Nifty Bank drops 1,493 points from highs to end 355 points higher at 19,969

5. Midcap index plunges 592 points from highs to close 75 points lower at 11,763

6. TCS, ITC, ICICI and Infosys support while Bajaj Finance, Bharti Infratel and HUL drag Nifty

7. Financials and IT help Nifty to close in the green

8. Market breadth mildly in favour of advances; advance-decline ratio at 1:1

9. Coal India, Cipla, Axis Bank, NTPC top Nifty gainers

Mar 27, 2020 3:43 PM

"We expect sharp reduction in economic activity at least in Q1FY21. Consequently, full year GDP growth for FY21 could also be significantly lower. The market will however still expect newer triggers to boost the sentiment further", says Vijay Chandok, MD & CEO of ICICI Securities.

Mar 27, 2020 3:26 PM

Just In: Tata Motors to hive off passenger vehicle business into separate subsidiary

Tata Motors' board have approved the plan to subsidiarize the company's Passenger Vehicles (PV) including Electric Vehicles (EV) business into a separate subsidiary.

This decision is a first step in the company's plans to secure mutually beneficial strategic alliances for the domestic PV business and help secure its long-term viability, Tata Motors said in an exchange filing. READ MORE

Mar 27, 2020 3:25 PM

Mar 27, 2020 3:19 PM

Micro and small enterprises (MSEs) manufacturing products to stop COVID-19 can avail upto Rs 50 lakhs within 48 hours, says SIDBI

In the need of the hour to fight back COVID-19, Small Industries Development Bank of India (SIDBI) launches a financial assistance SAFE scheme for the micro and small enterprises (MSEs) that deal with manufacturing of products related to stop coronavirus.

SIDBI in its press circular directs, "MSEs engaged in manufacturing of hand sanitizers, masks, gloves, headgear, body suits, shoe-covers, ventilators, goggles, testing labs etc. can avail loans up to Rs. 50 lakhs at a fixed interest rate of 5 percent for a maximum loan repayment tenure of 5 years."

These are collateral free loans and will be sanctioned within 48 hours of submitting the necesssary documents.

The special scheme will help MSEs to acquire equipment, plant and machinery, other assets including raw materials required for production ordelivery of services.

Mar 27, 2020 2:55 PM

Nifty Auto index down 2%, remains worst-performing index of the day; Hero MotoCorp, Bharat Forge and TVS Motors among top losers, slip over 6%

Mar 27, 2020 2:43 PM

Want to make quick money amid coronavirus crisis? Axis Securities lists top short-term picks

Despite rising around 15 percent in the last 3 sessions, the benchmarks are still down 25 percent for the month amid the coronavirus crisis. So should investors buy?

Mar 27, 2020 2:27 PM

SBI Board Meeting Update: Extends validity period to raise up to Rs 20,000 crore via FPO/QIP/Preferential allotments/rights issue and any other modes till March 31, 2021.

Highlights:

1. Working capital limits will be assessed on case to case basis

2. Installments to get automatically deferred by 3 months for term loans

3. Accrual of income does not stop, there is dispensation on recovery

4. Interest accrual does not stop, only the payable date changes

5. Our term-loan book is fairly large; about Rs 2.5 lakh crore is paid every year

6. About 50,000-60,000 crore roughly come up for moratorium overall in term loans

Mar 27, 2020 1:54 PM

This year, central banks slashed their repo rates upto 150 bps to mitigate COVID-19, India stands last in the list

As global coronavirus case numbers continue to rise, governments around the world are imposing increasingly tough measures in a bid to stem its spread. US Federal Reserve in order to hold its economy slashed 150 bps rate to nearly zero, and so did Canada by cutting its repo rate to 0.75 percent.

Here are the countries that initiated whopping rate cuts:

1. USA: 150 bps to 0.25 percent

2. Canada: 100 bps to 0.75 percent

3. South Africa: 100 bps to 5.25 percent

4. Vietnam: 100 bps to 5 percent

5. New Zealand: 75 bps to 0.25 percent

6. UK: 65 bps to 0.1 percent

7. Australia: 50 bps to 0.25 percent

8. Brazil: 50 bps to 3.75 percent

9. Mexico: 50 bps to 6.5 percent

10. Phillippines: 50 bps to 3.25 percent

11. Indonesia: 25 bps to 4.5

12. Malaysia: 25 bps to 2.5

13. Thailand: 25 bps to 0.75

14. India: 75 bps to 4.4 percent

Mar 27, 2020 1:40 PM

Asian Market Update: Stocks rise as investors expect more stimulus measures

Asian markets rose on Friday afternoon in hopes of more stimulus measures to combat the coronavirus pandemic after U.S. unemployment filings surged to a record.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 percent, while Japan's Nikkei rose 3.88 percent, capping its biggest weekly gain on record. Australian shares gave up gains to fall 5.3 percent after a strong week.

The dollar fell against major currencies as central banks' repeated steps to solve a dollar shortage in funding markets started to gain traction.

The U.S. House of Representatives is expected to pass a $2.2 trillion stimulus package that will flood the world's largest economy with money to stem the damage caused by the pandemic.

The U.S. Federal Reserve has already slashed rates to zero and launched quantitative easing. The Fed will also take the unprecedented step of offering a direct backstop for corporate loans.

Mar 27, 2020 1:20 PM

Quick Update: Appreciating the RBI's efforts to ease pain, Prime Minister Narendra Modi says that the announcements will improve liquidity, reduce cost of funds, help middle class and businesses.

Mar 27, 2020 12:56 PM

Mar 27, 2020 12:48 PM

Are credit card bills suspended? Let's see if it has

The Reserve Bank of India (RBI) today allowed all financial institutions to allow a three-month moratorium for all term loans in light of the COVID-19 outbreak and the subsequent lockdown.

In effect, banks can allow all customers to not pay their monthly EMIs for a 3-month period, and the non-repayment will not hurt their credit score. Read everything that you need to know here!

Mar 27, 2020 12:15 PM

Rupee Update: Indian rupee extended morning gains as it touched 74.31 intraday after RBI announced measures to support the economy and liquidity.

Mar 27, 2020 11:52 AM

Mar 27, 2020 11:37 AM

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