Nifty50 and Sensex rebound today
Nifty50 and Sensex rebound: Economic package Announced by FM
Nifty50 and Sensex at 3.30 pm: The Indian stock market closed in the positive note after a volatile trading session. The Nifty50 gained 190.80 points or 2.51% and at 7801.05 while Sensex was up by 692.79 points or 2.67% and at 26674.03.
The Bank Nifty also gained 189.65 points or 1.12% and closed at 17107.30 today. The Nifty midcap 100 index gained by 119.60 points or 1.09% and at 11110.40. Whereas the Nifty smallcap 100 index was declined by 33 points or 0.98% and at 3339.65.
Nifty50 Stocks today: gainers and losers
The top five gainers in the Nifty50 stocks for the day are Infosys, Adani Ports, Britannia, Bajaj Finance and HUL. The losers in the Nifty50 stocks are Yes Bank, M&M, Grasim, IndusInd Bank, and Power Grid Corp.
In the Nifty midcap space, the gainers for the day are Escorts, LT Technology and the losers are Edelweiss, AU Small Finance. The gainers in the Nifty smallcap space are NIIT Tech, PVR and the losers are Karur Vysya, PNC Infratech.
Among the sectors today the gainers for the day are IT & Software, Oil & Gas, Manufacturing, Insurance, and Healthcare. On the losing side, Construction Materials, Real Estate, logistics, Retails and Container Packaging.
Other Indian Stock Market News today
Prime Minister Narendra Modi will address the nation at 8 pm Tuesday on Coronavirus outbreak.
Dr. Reddy will be held a board meeting on 27th March to consider and approved the raising of funds by issuance of commercial paper.
The US Security and Exchanges Commission (SEC) gave a clean chit to Infosys regarding the whistleblower case.
Association of National Exchanges Members of India (ANMI) has requested on 23rd March to SEBI to shut down the stock exchanges if the state government cannot declare broking and depository operation as an essential service. Earlier the ANMI had requested SEBI to issue advisory to State Government to include stock broking and depository services as essential services and inform all state governments to issue necessary guidelines to that effect.
Economic Package Announcement
The Indian stock market gained after the announcement of the Finance Minister’s press conference on the economic package.
There will be a relaxation of up to 60 days for holding board meetings for the next 2 quarters.
The Customs will function as an essential service during this time, customs clearance will operate 24×7 till June 30th.
The requirement of holding a Board meeting for corporates has also been extended by 60 days.
The last date for filing income tax return for FY19 has been extended to 30th June. For any delayed payments, the penalty rate has been reduced by 9% from 12%.
Under the IBC rules, the threshold limit for defaulter was raised from 1 lakh to 1 crore.
The digital trade and transactions of bank charges have been reduced and minimum balance requirement charges have been withdrawn. The ATM withdrawal from any bank will be free for the next 3 months as per the economic package announced by the Finance Minister Nirmala Sitharaman.
Stock Market Live India: The Indian markets are trading in volatile today, The benchmark indices NIfty50 and Sensex are trading higher at 12 pm today. Asian markets are also supportive and encouraging for today’s trading.
Some encouragement has come after the Reserve Bank of India (RBI) decided to inject Rs 1 Lakh crore and assured such moves further if required. The first tranche of term repo worth Rs 50K crores was conducted on March 23rd and the second tranche of the same will be conducted today on March 24th.
Indian Stock Market Live:
The Nifty50 and Sensex are trading almost 2% higher at 12.05 pm today. The Bank Nifty is trading 50 points or 0.30% down and at 16868. The Nifty midcap is trading 127.40 points or 1.12% higher whereas Nifty smallcap is down by 71.65 points or 2.12% at present.
On the sectoral front, other than Aviation and Retail all other sectors are trading at higher. Britania, Adani ports are trading higher whereas Yes Bank and Bharti Infratel are trading down at this hour in the Nifty50 stocks.
Crude and rupee updates
The Indian rupee is trading 0.18 paise higher than the previous close. The rupee is currently trading at Rs 76.13 against the US dollar.
The crude oil prices rose on Tuesday in the hopes that the United States $2 trillion coronavirus aid stimulus package will release soon to support the economic impact due to the outbreak. The Brent crude is trading at $28.17 per barrel almost 4.30% higher than the previous close.
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Stock market live India: The trend of SGX Nifty indicated a positive opening for the Indian stock market. The Asian markets are also trading higher today. The Indian stock market opened in the green today as indicated by the SGX Nifty.
At 9.15 am the Nifty50 is up by 405 points or 5% and at 7990 while Sensex also up by 1450 points or 5.13% and at 27300. The HDFC Bank and Infosys are top gainers in the Nifty50 stocks whereas there are no single losers in the Nifty50 stocks.
IT & Software, Banking & Finance, Logistics, Oil & Gas and Insurance are the top gainers in sector-wise. These sectors are up by 5-7% in the morning trades.
You may also like to read, Nifty50 Stocks list | Index | Share price
