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Indian markets remained stuck in a narrow range to end Thursday's trading session with losses. On the other hand, markets in Europe are trading with gains while futures on the Dow Jones are trading higher by 320 points.
The S&P BSE Sensex traded in a 400 point range throughout the session to end 0.76 percent lower at 31,443. The NSE Nifty 50's range was down to 100 points, ending at 9,199, down by 0.77 percent. 40 out of the 50 Nifty constituents ended with losses.
Both benchmarks have declined for three out of the four trading sessions this week.
Among sectoral indices, most of them ended flat with the Nifty FMCG index and the Nifty Bank index ending with losses of over 1 percent.
812 stocks on the NSE posted gain while 939 ended with losses.
The country's largest lender has reduced the Marginal Cost of fund based Lending Rate (MCLR) by 15 basis points across tenors. The one-year MCLR is now at 7.25 percent from the earlier 7.4 percent
This is the 12th consecutive reduction in the bank's MCLR as per its press release. The change will be effective from May 10, 2020.
The bank has also pruned its interest rate on Retail Term Deposits by 20 basis points for tenor up to three years due to adequate liquidity in the system.
Shares currently trade little changed at Rs 170.9 on the National Stock Exchange.
Shares gained as much as 5.6 percent to Rs 532.8 and are up for the third straight day.
The stock currently trades 1.24 percent higher at Rs 168, snapping a three-day losing streak. The stock has gained only on three instances in the last 13 trading sessions.
15.2 lakh shares of the company exchanged hands in a large trade on the National Stock Exchange, as per Bloomberg data.
Buyers and sellers of the trade were not immediately known.
The stock currently trades 0.43 percent higher at Rs 23.10.
Shares fell as much as 4.95 percent to Rs 1,184 and are among the worst performers on the Nifty 50 index.
Shares of the company gained as much as 11.8 percent to Rs 346 before cooling off. This was the biggest one-day gain seen by the stock in three month.
The company's promoter Sameer Gupta had acquired 1.51 lakh shares of the company or 1.15 percent equity at Rs 315 per share on Wednesday.
Gupta had earlier acquired 0.95 percent stake or 1.25 lakh shares of the company at Rs 309.98 per share on Tuesday.
Shares are up for the third straight day today and currently trade with gains of 2.5 percent. Today's volumes are 6 times higher than its 30-day average.
Here's a look at how the benchmark indices across Europe have opened:
Shares recovered from the day's low and are now trading with gains of 0.3 percent at Rs 374.30, up for the second straight day.
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The central bank has maintained status quo on interest rate, keeping them at 0.1 percent. A Bloomberg poll of economists were expecting the rates to remain unchanged.
The committee has voted 7-2 on keeping the asset purchase program unchanged. The Bank of England expects the economy to shrink 14 percent in 2020.
It expects unemployment rising to 8 percent this year while consumer spending is likely to drop 14 percent.
Shares gained as much as 4.74 percent to Rs 51.90.
Shares gained as much as 2.2 percent to Rs 3,936 and are up for the second straight day.
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Shares of the healthcare company gained as much as 10 percent to Rs 104.55 after the company's clinical arm, Aster Clinical Lab LLP started to provide RT-PCR confirmatory test services for Covid-19 in Bengaluru.
The lab is fully equipped with advanced instruments to serve routine & specialized investigation e.g. Biochemistry, Haematology, Microbiology, Molecular Diagnostics, Cytogenetics, Digital Histopathology etc., as per the company's press release.
The stock has snapped a three-day losing streak in today's session.
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Shares are locked in an upper circuit of 5 percent at Rs 76.80 after Bloomberg reported that Amazon is considering adding to its investment in the company, citing people familiar with the matter.
Amazon currently holds an indirect stake of 1.3 percent in the debt-ridden Indian retailer. It can increase its holdings to as much as 49 percent.
Under the stock exchange rules, a purchase of more than 25 percent stake can trigger an open offer.
Amazon had earlier purchased 49 percent stake in Future Coupons which holds 2.7 percent stake in future retail.
The stock has snapped a seven-day losing streak during which it was locked in a 5 percent lower circuit during each session.
9 crore shares of the company exchanged hands in six large trades on the National Stock Exchange, as per Bloomberg data. The deal took place between Rs 1,938 and Rs 1,951 per share.
GSK group and Horlicks planned to sell 5.69 percent stake or 13.37 crore shares of the company in block deals, thereby offloading their entire stake.
The total number of shares exchanged amount to 3.8 percent of the company's total equity.
Shares fell as much as 5.4 percent to Rs 1,902 and are the worst performers on the Nifty 50 index.
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Indian markets opened on a cautious note owing to lack of positive cues from across the globe and a slew of stock specific action in today's trade.
The S&P BSE Sensex opened little changed at 31,677 while the NSE Nifty 50 opened 0.4 percent lower at 9,234. After a cautious start, both indices fell 1 percent in the early minutes of trade. The Sensex and Nifty had snapped a two-day losing streak on Wednesday.
Among sectoral indices, the Nifty Bank and the Nifty FMCG index opened 0.8 percent lower while other indices were largely flat.
818 stocks on the NSE have opened with gains while 974 have opened with losses.
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For all that you need to know going into today’s trade, click here.
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