Markets shed most gains over the day. Nifty 50 closed at 8674.40 (33.0, 0.4%) , BSE Sensex closed at 29815.59 (-131.2, -0.4%) while the broader Nifty 500 closed at 7014.75 (20.9, 0.3%). Market breadth is in the green. Of the 1653 stocks traded today, 820 were gainers and 740 were losers.
- The RBI announced that all banks and NBFCs can allow a moratorium of 3 months on repayment of term loans outstanding on March 1, 2020. The individual banks and NBFCs would make a final decision on their policy.
Aurobindo Pharma is sharply up today, after USFDA issued an EIR for the company's Hyderabad facility
Bandhan Bank and Sheela Foam top the list of gainers; RBI issues a three month moratorium on EMI payments
Axis Direct is a buy on Hindustan Lever among other stocks, in view of the current pandemic.
ITC has set up a coronavirus emergency fund of Rs. 150 crore, to help vulnerable sections during the crisis. The company said that it will coordinate with district authorities in deploying the money.
Granules India: Buyback announced earlier will continue as planned, we expect to meet our guidance despite lockdowns
The RBI has announced a reverse repo rate cut by 90 basis points, and a repo rate cut of 75 basis points. Cash reserve ratio has been cut by 100 bps to 3%
Goldman Sachs expects global oil demand to fall steeply in April. "Oil demand could plummet by 18.7 million bpd in April, deepening an expected demand plunge of 10.5 million bpd for March", the bank said.
- Markets are higher in morning trade ahead of the RBI Governor's speech, where he is expected to announce liquidity easing measures. Nifty 50 was trading at 8982.35 (340.9, 3.9%) , BSE Sensex was trading at 31021.40 (1074.6, 3.6%) while the broader Nifty 500 was trading at 7270.95 (277.1, 4.0%). Market breadth is overwhelmingly positive. Of the 1393 stocks traded today, 1143 were in the positive territory and 169 were negative.
Movers and Shakers
16 stocks in BSE 500 are trading on high volumes today.
Suprajit Engineering Ltd. (117.20, -0.34%) was trading at 53.8 times of weekly average. Star Cement Ltd. (73.00, 5.42%) and MOIL Ltd. (102.20, 1.95%) were trading with volumes 25.8 and 5.3 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
23 stocks tanked below their 52 week lows.
17 stocks climbed above their 200 day SMA including Sheela Foam Ltd. (1323.15, 11.97%) and Multi Commodity Exchange of India Ltd. (1035.80, 10.98%). 2 stocks slipped below their 200 SMA including Indostar Capital Finance Ltd. (252.00, -3.65%) and Thyrocare Technologies Ltd. (519.75, -1.36%).