Share Market News Today: Nifty closed above 8600, Bank Nifty gained 1133 pts

 

Share market news today at 3.30 pm: The Indian share market closed in a positive note consecutively for the third trading session. Though the monthly derivate expiry day end in the green but the March series Nifty declined around 28%

 

Share market update news today

Today, in the end, the Nifty gained 323.60 points or 3.90% and at 8641.45 while the Sensex was up 1410.99 points or 4.95% and closed at 29946.77.

The Bank Nifty spikes 6.33% or 1132.85 points and closed today at 19613.90. The IndusInd Bank which was falling continuously for days has gained almost 45% and closed at Rs 435.90 in NSE.

The Nifty midcap and smallcap 100 indexes gained more than 3% today. The Nifty midcap gained 3.11% or 356.95 points and at 11838.55 whereas the Nifty smallcap 100 gained 109.10 points or 3.17% and closed at 3550.65.

The top five gainers in the Nifty 50 stocks for the day are IndusInd Bank, Bharti Airtel, Larsen, Bajaj Auto, and Hero Motor Corp. The losers for the day in Nifty 50 space are Yes Bank, GAIL, Adani Port, Sun Pharma, and Maruti Suzuki.

In the Nifty midcap space, the gainers for the day are Max Financial, Mahanagar Gas and the losers are L&T technology, Mphasis. Whereas in the smallcap space, the gainers are Ircon International, Rashtriya Chemical and the losers for the day are NIIT, Sobha.

On the sector-wise reports, all the major sectors were the gainers for the day. Banking & Finance, FMCG, Telecom, Footwear, Insurance, and Real Estate gained between 6-10% during the day.

 

Other share markets news today

Ashok Leyland has acquired an additional stake in Hinduja Leyland Finance, it’s a subsidiary company. The share price of Ashok Leyland has gained its share prices

Board of Directors of Bank of Maharastra Bank has approved raising equity capital for the amount aggregating to Rs 831 crore through the issue of shares on a preferential basis. 

The commodity Exchanges MCX and ICEX has cut the trading hours to 5 pm from 30th March to 14th April 

Fitch Rating has revised the Indian bank’s rating from ‘bb+’ to ‘bb’  as increasing challenges from the coronavirus pandemic.

The Announcement of Pradhan Mantri Gareeb Kalyan (PMGK) Stimulus package has made a positive impact on the share market. Though the market was volatile after the announcement of the stimulus package later after a few minutes it became stable.

 

The Synopsis of the announcement are:

Finance Minister Nirmala Sitharaman has announced the Gareeb Kalyan Scheme of Rs 1.70 lakh crore, which will take care of the poor. 

The medical insurance cover of Rs 50 lakh per health worker e.g Doctors, Sanitation workers, paramedical staff.

Direct benefit  transfer to Farmers, MANGERA, Poor Widows, Pensioners, Divyangs

Women having Jan DhanYojana will get Ex-gratia of Rs 500 per month for the next three months.

Ujwala Scheme- Free Cylinders for the next three months.

Organized Sectors workers- The government will pay EPF Contribution for Employer and Employee for three months for the establishment of 100 plus employees.

Benefits to construction workers

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Share market news today at 12 noon: Indian share market opened in a positive note in the morning and later extended its early gains. Today the benchmark Indices are trading higher of over 3% each in early deals as sentiments were positive after the report that the government is likely to agree on an economic stimulus package of more than 1.5 trillion ($19.6 billion). 

 

Share Market news today: Nifty & Sensex

The share market news at 12 noon- the Nifty gained 318.30 points or 3.83% and at 8636.15 while Sensex is up by 1188.28 points or 4.16% and at 29724. The Bank Nifty spikes more than 8% or 1500 points and in 19982.

The top gainers in the nIfty stocks are IndusInd Bank and Axis Bank gained above 40 and 13 % at this hour. The losers are NTPC and Gail around 2%.

In sector-wise, Banking & Finance, Insurance and Real Estate gained around 6-8%

 

Share market news today due to coronavirus

The stimulus package is to fight a downturn in the country that is currently locked down due to the spread of the coronavirus outbreak. According to health ministry data, nearly 90 more coronavirus positive cases were reported in India. This takes a total number of cases to 616 as n March 25 while the number of death was 10.

As per the latest news in the media, the US Senate has passed a USD 2 trillion Coronavirus stimulus package.

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Other  share market news today

Stride Pharma’s Bangalore facility has got Establishment Inspection Report (EIR) from the USFDA on the successful closure of inspection

Delta Corp board may consider the buyback proposal of its equity share. The share price of Delta Corp has gained 5% in the early trade.

Cipla has got USFDA approval for its new drug, the share price of Cipla has gained more than 3% today in the morning.

The investor Radhakrishnan Shivkrishan Damani has bought 16 lakh shares of India Cement through the bulk deal. The share price of India cement gained almost 10 % in the morning.

The global research firm Morgan Stanley has maintained an overweight stance on L&T with a target price of Rs 941 per share. The share price of L&T has jumped 4% in the morning trade.