Here are the key market highlights of the day##Here are the key market highlights of the day

1. Market erases half of Thursday's gains, Nifty fails to hold 9,000

2. Sensex slips 470 points to 30,690 and Nifty 118 points to 8,994

3. Financials remain under-pressure with Nifty Bank slipping 426 points to 19,488

4. Midcap index falls 178 points to 12,376 but market breadth still favours advances

5. HDFC twins, ICICI Bank, Reliance Industries and Bajaj Finance drags Nifty while L&T, Bharti Airtel support index

6. Pharma continues to be the top-performing index led by Dr Reddy's and Cipla

7. Zee Entertainment amongst top Nifty losers after company's Rs 522 crore investment in Margo Networks

8. L&T top Nifty gainer after announcing large order wins

9. Aviation stocks post minor gains as DGCA awaits government's directive

10. Dr Lal Pathlabs, Biocon gain as Supreme Court agrees to modify free testing order

Apr 13, 2020 3:47 PM

ICICI Direct cuts Sensex FY22 target to 33,500; downgrades earnings estimates##ICICI Direct cuts Sensex FY22 target to 33,500; downgrades earnings estimates

Amid the ongoing nationwide lockdown and a standstill in economic activities, ICICI Direct has revised its target for Indian equity benchmark indices, Sensex and Nifty50 for the year 2020 and has also downgraded its earnings estimates.

“COVID-19 is a black swan event with far-reaching implications for businesses worldwide. The Indian economy is no exception with a stringent 21-day lockdown period underway,” ICICIdirect said in a research report. Here's the full article

Apr 13, 2020 3:29 PM

Adani Ports raises Rs 1,500 crore##Adani Ports raises Rs 1,500 crore

Adani Ports & SEZ has raised Rs 1,500 crore by allotment of 15,000 rated, listed, secured, redeemable, non-convertible debentures (NCDs) of the face value of Rs 10,00,000/- each on private placement basis.

On NSE, the shares surged nearly 4 percent to Rs 262.

Apr 13, 2020 3:28 PM

Automobile sector reports 18% drop in sales in FY20

The Indian automobile sector reported more than 18 percent on year drop in sales during FY20 while production during the period fell 15 percent to 26,362,284 units, according to the data released by Society of Indian Automobile Manufacturers (SIAM).Get latest Auto online at cnbctv18.com

Apr 13, 2020 3:15 PM

Going to have a deep recession ahead, says American investor Howard Marks##Going to have a deep recession ahead, says American investor Howard Marks

Howard Marks of Oaktree Cap Mgmt was a little surprised with the way the markets have recovered so quickly and he sees a deep recession ahead.

“This is the greatest pandemic in over 100 years. It has the greatest economic impact in over 80 years. It is exacerbated by the greatest collapse in the oil prices ever and responded to by the biggest Fed and government response ever. So, when you have all these things that are happening essentially for the first time, you can't say you know how they are going to turn out," the American investor said. Read further here!

Apr 13, 2020 2:52 PM

Pharma Stocks Shine: Dr Reddy's Laboratories gain over 6%##Pharma Stocks Shine: Dr Reddy's Laboratories gain over 6%

The stock price of Dr Reddy's Laboratories surged 6.5 percent on April 13 after the company launched blood cancer drug Invista in the country and received Establishment Inspection Report from the US health regulator for Telangana facility.

Apr 13, 2020 2:37 PM

Indian Rupee ends flat as compared to Thursday's close of 76.27##Indian Rupee ends flat as compared to Thursday's close of 76.27

The Indian currency ended flat on Monday after trading in a narrow band for most of the day.

The rupee ended at 76.28 as compared to Thursday's close of 76.27 against the US dollar.

Apr 13, 2020 2:16 PM

Mutual Fund Investing: Does buying during collapse make greatest wealth?

The Indian retail investor has understood that booking losses in panic is not the best course of action during a market crash.Get latest Market online at cnbctv18.com

Apr 13, 2020 2:01 PM

Indoco Remedies share price hits 52-week high

Shares of Indoco Remedies hit a 52-week high on Monday after the company delivered the first shipment of Paracetamol tablets to the UK.

The company informed exchanges that it has been part of the great initiative by the Indian government to export Paracetamol tablets to the UK in its fight against COVID-19.

At 01:50 pm, the stock price rose nearly 4 percent to Rs 259.

Apr 13, 2020 1:51 PM

This smallcap realty company climbed 20% in trade today

GPT Infraprojects is a smallcap that is engaged in construction activities for infrastructure projects. The stock skyrocketed 20 percent to Rs 21 on the NSE.

The rally is on the back of the company receiving a road-widening order in Manipur worth Rs 115 crore.

Apr 13, 2020 1:33 PM

Apr 13, 2020 1:22 PM

India plans to resume some manufacturing amid lockdown

India is planning to restart some manufacturing after April 15 to help offset the economic damage of a nationwide coronavirus lockdown, two government sources said, even as it weighs extending the lockdown.

One of the sources said Prime Minister Narendra Modi had directed some ministries to come up with plans to open up some crucial industries as the livelihoods of the poor were being hit.

The source said the government was considering allowing the resumption of some operations under guidelines that were being drawn up. Click here to read more

Apr 13, 2020 1:01 PM

Cadila Healthcare receives a tentative nod from US FDA

Shares of Cadila Healthcare was up over 2 percent on April 13 after the company received a tentative nod from the US FDA to market generic Empagliflozin tablets, used for the improvement of blood sugar control in adults with type 2 diabetes in the US market.

At 12:47 pm, the share price rose 2 percent at Rs 358 on the NSE.

Apr 13, 2020 12:48 PM

Oil climbs more than $1/barrel as OPEC, allied producers agree record output cut

Brent crude futures rose USD 1.23, or 3.9 percent, to USD 32.71 a barrel by 0058 GMT after opening at a session high of USD 33.99.

Apr 13, 2020 12:32 PM

Pesticides now included under essential items, but there are some hurdles

Following continuous requests from the industry, pesticides are now included in the list of “essential items”. Previously, only agri inputs like seeds and fertilizers were included in the essential commodities act.

However, due to the ongoing lockdown, approval from local authority is required to run the pesticide, seed manufacturing or fertilizer plants, which may take 8-10 days. Also, pesticide companies are allowed to operate plants with only 10 percent workforce, and this is leading to constrained production. READ MORE

Apr 13, 2020 12:24 PM

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