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Indian equity markets ended the truncated week on a high, registering their second successive weekly advance. This is the first instance in two months where benchmark indices have had back-to-back weekly gains.
The S&P BSE Sensex ended 3.2 percent higher at 31,588, ending the week with gains of 1.4 percent. The 30-stock index had advanced over 12 percent last week.
The NSE Nifty 50 index too ended with gains of 3 percent at 9,266. 39 out of the 50 index constituents ended the day with gains. For the week, the index was up 1.77 percent.
Gains were led by private banks with Axis Bank and ICICI Bank ending with gains of 13 and 9.5 percent respectively.
Among sectoral indices, the Nifty Bank ended as the top performer with gains of 7 percent while the FMCG and Pharma index underperformed, ending with losses of 1 and 0.5 percent respectively.
The company has informed the exchanges that it has recieved an order from the District Collector of Indore for preparation, availability, screening and testing of suspected cases of Covid-19 at their Hospital.
The suspect cases will be screened and tested at the Indore facility while other units will function as per normal course of operation as per the company.
The stock gained as much as 17.5 percent to Rs 72.95. It was the biggest one-day gain for the stock since listing.
From Banks And NBFCs To State Governments, RBI Steps In With Relief
Lets take a look at how the benchmark indices are faring in opening trades:
Indian Equity Market Is ‘Mouth-Wateringly Interesting’, Says Saurabh Mukherjea
The drugmaker has informed the exchanges that it has gotten the final approval from the U.S. FDA to market Erlotinib Tablets in strengths of 25, 100 and 150 mg.
The drug is used to stem the growth and spread fo cancer cells in the body, according t the company's press release. The drug will be manufactured at the company's formulation manufacturing facility at the SEZ in Ahmedabad.
Shares fell as much as 3 percent to Rs 333 after rising 2.5 percent in early trade.
RBI will make further necessary announcements whenever required, says Governor Das.
— BloombergQuint (@BloombergQuint) April 17, 2020
Read: https://t.co/iTtviCY1Vf
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Some of the other measures announced by the central bank include:
Nifty Bank: April 23 Expiry
Shares of the real estate player gained as much as 14.8 percent to Rs 391.95. It is also the top gainer on the Nifty Realty Index.
The company informed the stock exchanges that it has pre-paid 125 listed NCDs worth Rs 1 crore each, aggregating to Rs 125 crore along with its interest repayment, ahead of its scheduled date of April 23, 2020.
The stock is up for the third day in a row and has seen its biggest one-day gain since February 2018. The stock has gained over 28 percent in the last 3 sessions.
The stock is locked in an upper circuit of 5 percent, after it informed the exchanges that it has resumed partial manufacturing operations at its graphite electrode plant in Nashik.
The press release stated that it is engaging minimum labour after obtaining requisite permission from the authorities.
Shares are gaining for the 14th straight session and are locked in a 5 percent upper circuit for the 10th straight day. The stock has gained 86 percent during this period.
The company has informed the exchanges of its Buildings and Factories business winning ‘significant’ orders.
The factories arm has won a design and build order from a leading cement player to execute and commission a 9,500 Tonnes Per Day cement plant in Madhya Pradesh.
The residential arm has won an order from a reputed developer in Bengaluru while the I.T. and Office spaces business has won an order from a key government organisation to construct its smart data centers at Hyderabad and Chennai.
Shares gained as much as 3.1 percent to Rs 939.55 and are up for the eighth day in a row. This is the longest winning streak for the stock since January 27, 2015.
TCS Expects Revenue To Contract In FY21 On Covid-19 Disruption
Indian equity markets have begun the final trading day of this truncated week on a strong note, tracking positive cues across Asian markets and in U.S. futures.
The S&P BSE Sensex opened 3.44 percent higher at 31,656 while the NSE Nifty 50 index opened at 9,323, higher by 3.7 percent. All constituents of the Nifty and the Sensex opened with gains.
Both benchmark indices are poised to post their second successive weekly gain for the first time in two months.
All sectoral indices opened with gains, led by the Nifty Bank which opened 5 percent higher while Nifty Auto, Metal and the PSU Bank index opened with gains between 3-3.5 percent.
Coronavirus Updates: Total Cases In India At 13,387; Death Toll At 437
For all that you need to know going into today’s trading session, click here.
RBI governor to brief the media today.
— BloombergQuint (@BloombergQuint) April 17, 2020
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