Closing Bell: Sensex, Nifty end nearly 7% higher on US stimulus led by financials##Closing Bell: Sensex, Nifty end nearly 7% higher on US stimulus led by financials

Indian shares rose 6-7 percent on Wednesday, as US senators and Trump administration officials reached an agreement on a massive economic stimulus bill to cope with the fallout from the coronavirus outbreak. The Sensex ended 1,862 points higher at 28,536, while the Nifty50 also rose 517 points to settle at 8,318.

Broader Asia shares also advanced with MSCI’s broadest index of Asia-Pacific shares outside Japan gaining 3.4 percent. On the Nifty50 index, Reliance, HDFC Bank, Kotak Bank, UPL, and Maruti were the top gainers, whereas IOC, IndusInd Bank, Coal India, Wipro and GAIL led the losses. Nifty Midcap and Nifty Smallcap indices were also over 3 percent each.

All sectors also witnessed buying amid volatile trade led by financials. Nifty Fin Servcies and Nifty Bank surged 9.7 percent and 8.4 percent, respectively for the day. Nifty Auto also added 4.3 percent, while Nifty IT and Nifty FMCG were up 2 percent each.

Mar 25, 2020 3:34 PM

Mar 25, 2020 3:21 PM

Treat with caution: rocketing stocks aren't cause for comfort##Treat with caution: rocketing stocks aren't cause for comfort

Those pining for a bottom to the gut-wrenching stock market selloff may be disappointed to learn that mega one-day rallies like the historic one witnessed on Tuesday are typically not the start of a durable recovery. All the same, data suggest investors should treat the rally in stocks with caution. Of the twenty past instances when the S&P rallied 8 percent or more on a single day, thirteen of them took place when stocks were in the embrace of a bear market. "These 8 percent rallies are not necessarily signs of health," said Christopher Murphy, co-head of derivatives at Susquehanna Financial Group.

Mar 25, 2020 3:10 PM

Railways to suspend all passenger trains till April 14; Freight train services to continue##Railways to suspend all passenger trains till April 14; Freight train services to continue

The Indian Railways is likely to extend the cancellation of all passenger trains and suburban trains till 2400 hours of April 14, 2020. However, freight train services will continue operations, sources told CNBC-TV18. The move comes after Prime Minister Narendra Modi on Tuesday announced a complete lockdown across the country after the number of people infected by coronavirus increased sharply.

Mar 25, 2020 2:56 PM

Parag Milk Foods promoter to repay entire Rs 14.85 crore loan, releases pledge shares

Mar 25, 2020 2:43 PM

Mar 25, 2020 2:24 PM

Did you wonder about this bear market? Here's why this one is different

India has seen 4 bear markets in last 25 years but this time it could be worse than ever.

In conventional terms, a bear market is defined as one where prices on leading indices fall by 20 percent and more. This time, the market has fallen 39 percent from its recent record highs hit in January 2020 amid this coronavirus-led selloff. This stands as the worst-case scenario in the history of Indian stock market. Read here the full story

Mar 25, 2020 2:10 PM

After plunging 60% this month so far, this stock is the top gainer of the day

Yes, Axis Bank remains the top gainer of the day, surging 14 percent in trade today.

In the last few trading sessions, the Street beat the stock to its 52-week low levels resulting into a fall of 60 percent this month. However, the tables turned soon after the market started to rally again.

Mar 25, 2020 1:53 PM

Kotak Securities lists top largecap picks to accumulate amid pandemic

The Indian market has witnessed a sharp selloff, in line with global markets led by the coronavirus scare.

Kotak Securities, in a report, noted that the stocks are falling disproportionately due to lack of buying as FIIs have become aggressive sellers. The fear factor and panic selling have also increased the gap between stock prices and their fair valuation. Click here to read more

Mar 25, 2020 1:51 PM

Just In: GoAir extends salary cuts to all staff for March, says, "We will ensure the lowest pay grades suffer the least"

Mar 25, 2020 1:30 PM

Mar 25, 2020 1:19 PM

Breaking News: US President Donald Trump and the Senate have agreed an economic relief package worth over $1.8 trillion

The US stimulus package includes money to bailout industries that have been affected by the coronavirus crisis. The relief measures will help ease the pain of mass layoffs and small businesses.

The full details of the planned legislation have not been published yet, but the lawmakers suggested that an initial proposal by Republicans for direct cash payments would be included.

Mar 25, 2020 12:47 PM

Cabinet may take up proposals w.r.t regional rural banks

To boost the banking system situated in the deep rural corners of our country, the Cabinet may take up proposals and support scheme for the rural banks by extending it for a year. Additional cash infusion is also likely, said sources to CNBC-TV18.

Mar 25, 2020 12:45 PM

DoT appeals for cooperation by states for continuity of telecom operators

The office of Telecom Secretary Anshu Prakash on Tuesday shot off another letter to chief secretaries of all states, seeking cooperation for continuity of telecom operations, stressing on the importance of telecom infrastructure.

This letter by the DoT secretary comes after a similar letter that was addressed to all chief secretaries of states on March 21. In the latest letter, the DoT secretary states that telecom infrastructure is critical for ensuring communication services. The letter also stresses on the importance of broadband, internet and e-commerce services, which are enabled through telecom sector. Read here for more details

Mar 25, 2020 12:24 PM

Mar 25, 2020 12:03 PM

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