Stock Markets Today Latest Updates: Market posts biggest single-day gain as Sensex reclaims 30,000-mark, Nifty up 708 points

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Stock Markets Today Latest Updates: Market posts biggest single-day gain as Sensex reclaims 30,000-mark, Nifty up 708 points
  • 15:59 (IST)

    Market posts biggest single-day gain as Sensex reclaims 30,000-mark

    The equity benchmark indices ended in the green after opening on a positive note and Sensex reclaimed 30,000-mark on Tuesday. 
     

    Sensex surged 2,476.26 points or 8.97 percent at 30067.21 while Nifty was up 708.40 points or 8.76 percent at 8792.20 at close. 

    As many as 1,813 shares advanced, 535 shares declined, and 189 shares remained unchanged during trading.
     

    IndusInd was the top gainer in the Sensex pack zooming over 22 percent followed by Axis Bank and Mahindra & Mahindra.

  • 15:51 (IST)

    Allow liquor sale; illicit trade burden on exchequer: CIABC to 10 states

    The Confederation of Indian Alcoholic Beverage Companies (CIABC) has urged 10 states to allow sale of alcoholic beverages saying that a blanket ban during the lockdown to contain coronavirus has resulted in sale of illicit and spurious liquor while causing burden on exchequer.
     
     
    The body noted that the nationwide lockdown has resulted in the shutdown of all wholesale and retail shops selling alcoholic beverages.
     
     
    It said the need to close on-shops (bars) is well understood in light of social distancing.
     
     
    The CIABC sent letters on Monday to chief ministers of 10 states -- Delhi, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Telangana, Uttar Pradesh and West Bengal.

  • 15:48 (IST)

    India's renewables installation could fall by a fifth: Wood Mackenzie

    India could face over 21.6 percent of 3 gigawatts (GW) of solar power and wind energy projects being delayed due to the nationwide lockdown imposed to check the spread of coronavirus, Wood Mackenzie said in a report.
     
     
    While wind projects would be hit by supply and labour disruptions in the peak season, solar photovoltaic (PV) installations are expected to be hit hard as the industry is heavily dependent on Chinese PV module imports, which have been disrupted due to coronavirus.
     
     
    "Wood Mackenzie projects that India could face over 21.6 percent or 3 gigawatts (GW) of solar photovoltaic (PV) and wind installations being delayed as a result of the country's lockdown," it said in the report.

  • 15:40 (IST)

    Australian regulator urges banks, insurers to defer dividends

    Australia’s prudential regulator on Tuesday asked banks and insurers to consider deferring dividend payouts or use buffers like dividend reinvestment plans until the impact of the coronavirus pandemic is better known.

    But the Australian Prudential Regulation Authority (APRA) stopped short of giving an official directive, even as central banks across the world have restricted plans to return capital to investors as the outbreak threatens earnings and disrupts operations.

    APRA asked banks and insurers to limit discretionary capital distributions so that they have sufficient capacity to continue essential functions like lending and underwriting insurance.

  • 15:36 (IST)

    French firm Total's arm invests Rs 3,700 cr to form JV with Adani Group

    French energy firm Total SA on Tuesday said it has invested Rs 3,707 crore to set up 50:50 joint venture with Adani Green Energy Ltd (AGEL) through its step-down subsidiary.
     
     
    The JV houses 2,148 GW operating solar projects across 11 states in India, the company said in a statement.
     
     
    The portfolio includes the Restricted Group 1 & 2 projects, which had recently raised USD 862.5 million from the international bond markets, the statement said.
     
     
    Restricted Group 2 was the first Investment Grade rated issuance (rated BBB-/Baa3/BBB-) by a renewable business in India and was widely recognized by global capital markets and international publications, it added.

  • 15:34 (IST)

    Gujarat Alkalies starts partial operation

  • 15:33 (IST)

    Bank of Baroda to provide support to women SHGs, FPOs

    State-run Bank of Baroda on Tuesday said it will provide financial assistance of up to Rs 1 lakh to women self-help groups (SHGs) to help meet their funding demand amid the COVID-19 crisis.
     
     
    The bank has also announced an emergency credit line for farmers producer organisations (FPO/FPC) to deal with any liquidity mismatches.
     
     
    Under the Additional Assurance to SHGs-COVID19 scheme, the bank will provide support to existing SHGs' facilities in the form of cash credit or overdraft or term loans.
     
     
    "The minimum loan amount is Rs 30,000 per SHG and maximum loan amount granted under the scheme is Rs one lakh per member, repayable in 24 months," the bank said in a statement.

  • 15:28 (IST)

    MRPL cuts production of diesel, petrol

    With the number of vehicles on roads falling sharply in the lockdown period due to the coronavirus spread, the public sector Mangalore Refinery and
    Petrochemicals Limited (MRPL) has cut down production of petrol and diesel by half.
     
     
    The demand for diesel and petrol had fallen sharply after the lockdown was announced.
     
     
    MRPL normally produces 2,500 tonnes of LPG, 20,000 tonnes of diesel and 2,500 tonnes of petrol.
     
     
    The LPG production has now been cut by 25 percent while there has been a 50 percent cut in petrol and diesel production, the company said in a press release.

  • 15:20 (IST)

    SpiceJet operates India’s first cargo-on-seat flight, transports 11 tonne of vital supplies

  • 15:17 (IST)

    About 46,000 crew, passengers thermal scanned: Shipping ministry 

    The government on Tuesday said it is committed to maintaining smooth operations across its shipping ports and has initiated a number of steps, including waiving rentals and thermal scanning of 46,000 crew and passengers, in the wake of COVID-19 outbreak.
     
     
    Total traffic handling at major ports has also increased marginally by 0.82 percent to 705 million tonnes (MT) during the last fiscal.
     
     
    "In the wake of unprecedented crisis due to COVID-19, the Ministry of Shipping has been taking pro-active steps to ensure smooth running of shipping and port operations, ease the hardships, and at the same time, following the restrictions imposed during the lockdown," the Ministry of Shipping said in a statement.

Stock Markets Today Latest Updates: The equity benchmark indices ended in the green after opening on a positive note and Sensex reclaimed 30,000-mark on Tuesday.

Sensex surged 2,476.26 points or 8.97 percent at 30067.21 while Nifty was up 708.40 points or 8.76 percent at 8792.20 at close.

As many as 1,813 shares advanced, 535 shares declined, and 189 shares remained unchanged during trading.
IndusInd was the top gainer in the Sensex pack zooming over 22 percent followed by Axis Bank and Mahindra & Mahindra.

Market soared to day’s high in the afternoon trade as Sensex soared 1857.18 points or 6.73 percent to 29,448.13 and Nifty was up 538.30 points or 6.66 percent at 8,622.10 at around 1.10 pm.

Market rally continued the Sensex surged 1505.16 points or 5.46 percent to 29,096.11 and Nifty was up 434 points or 5.37 percent at 8,517.80 at around 11.30 am.

Market trimmed early gains as the Sensex was trading 1141.42 points or 4.14 percent higher at 28,732.37 while the broader Nifty was up 313.95 points or 3.88 percent at 8,397.75 at around 10.20 am.

India, the world’s main supplier of generic drugs, has lifted restrictions on the export of 24 pharmaceutical ingredients and medicines made from them, the government said in a statement.

Sensex rallies 1,372 points, Nifty soars over 350 points in opening session; IndusInd Bank up

 Stock Markets Today Latest Updates: Market posts biggest single-day gain as Sensex reclaims 30,000-mark, Nifty up 708 points

Representational image. Reuters.

Benchmark indices are trading positive in the pre-opening session with Nifty above 8,400- level. At 09:01 hrs IST, the Sensex is up 928.30 points or 3.36 percent at 28519.25, and the Nifty up 381.70 points or 4.72 percent at 8465.50.

Asian markets looked poised on Tuesday to attempt another day of gains after stocks rallied on signs of a slowdown in coronavirus-related deaths, as oil prices resumed their decline on doubts about a potential Saudi-Russian pact to cut output.

Hong Kong futures were up and Australia futures also rose in early trade.

Nikkei futures opened lower but were 2.3 percent above the cash close. The yen eased 0.01 percent as traders awaited more details on the government’s stimulus package.

On Monday, Japanese Prime Minister Shinzo Abe pledged to roll out an unprecedented economic stimulus, equal to 20 percent of economic output, as his government vowed to take “all steps” to battle deepening fallout from the coronavirus.

Equity investors kicked off the week encouraged by the slowing death toll from the virus across major European nations, including France and Italy. US stocks rallied on Monday, with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all gaining more than 7 percent.

“Markets started the trading week with a more positive tone following early signs of improvement in virus data for key hot spots,” ANZ Research economists said in a morning note.

Emerging market stocks rose 2.66 percent at the start of the week. MSCI’s broadest index of Asia-Pacific shares outside Japan closed 2.77 percent higher.

The governors of New York and New Jersey pointed to tentative signs that the coronavirus outbreak in their states was starting to plateau but warned against complacency, while across the Atlantic British Prime Minister Boris Johnson, who has the COVID-19 disease caused by the virus, was taken to intensive care, driving down the pound.

Reported cases of coronavirus, have exceeded more than 1.27 million globally and 70,395 have died, according to a Reuters tally.

Oil futures resumed their decline, falling more than $1 per barrel on Monday, after Saudi Arabia and Russia delayed a key meeting aimed at resolving growing excess supplies at a time the pandemic has pushed down demand.

Prices had previously notched two sessions of double-digit gains on hopes the producers would meet and agree to production cuts.

Gold prices rose, touching a fresh 3-1/2-week high.

Demand for gold, seen as a store of value, has jumped as governments around the world roll out stimulus packages to soften the economic blow of the pandemic, but effectively diluting their currencies.

Updated Date: Apr 07, 2020 16:08:24 IST



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