We believe that the Indian markets would continue to track global developments w.r.t Coronavirus and could exhibit volatility in the near term. The announcement of Q3FY20 GDP data on Friday will be a key domestic cue and will be actively watched by the market participants. In these uncertain times following stock specific approach would be more prudent.
February 27, 2020 / 04:15 PM IST
Vinod Nair, Head of Research at Geojit Financial Services:
Domestic & Global equity market got impacted by weak expiry of monthly F&O and selling in the global market due to the spread of new coronavirus cases in some parts of the world. Till last week the market was of the view that coronavirus is going to have only a minimum impact on global economy as situation in China was being contained. But an increase in the number of new cases is changing the view and there are fears of some slowdown in the economy.
February 27, 2020 / 04:03 PM IST
Deepak Jasani, Head Retail Research, HDFC Securities:
Technically, with the Nifty moving down further, traders will need to watch if the Nifty can now hold above the next major supports at 11,579-11,614; else the current downtrend is likely to continue. Any pullback rallies could find resistances at 11,695-11,779.
February 27, 2020 / 03:33 PM IST
Market Close: Benchmark indices ended lower for the fifth consecutive session but recovered from the day's low in the final hour of trade helping Nifty to close above 11,600.
At close, the Sensex was down 143.30 points at 39745.66, while Nifty was down 45.20 points at 11633.30. About 842 shares have advanced, 1549 shares declined, and 157 shares are unchanged.
Wipro, JSW Steel, Zee Entertainment, ONGC and IOC were among major losers on the Nifty, while gainers include Sun Pharma, Britannia, Titan Company, Grasim Industries and Axis Bank.
Except pharma, all other indices ended in the red. Nifty PSU Bank index fell 2.5 percent, followed by the IT, energy, metal, infra and auto. BSE Midcap index fell 0.6 percent, while BSE Smallcap index shed nearly 1 percent.
NLC India approves dividend: The company board on February 27, 2020, declared an interim dividend of Rs 7.06 per equity share.
February 27, 2020 / 03:03 PM IST
Dr Reddy’s launches tablets in US: Dr. Reddy's Laboratories announced the first-to-market launch of Naproxen and Esomeprazole Magnesium Delayed-Release Tablets, a therapeutic equivalent generic version of Vimovo (Naproxen and Esomeprazole Magnesium) Delayed-Release Tablets approved by the US Food and Drug Administration (USFDA).
February 27, 2020 / 02:54 PM IST
Sadbhav Infra gets Rs 833 crore: The company has received Rs 833 crore towards first tranche in connection with the sale of entire equity share capital held by the company in six operational road projects to the Indlnfravit Trust. Balance funds are expected to be received soon.
February 27, 2020 / 02:42 PM IST
Finolex Industries declares dividend: The company's board at its meeting held on February 27 declared interim dividend of Rs 10 per equity share.
February 27, 2020 / 02:34 PM IST
Long Buildup and Short Buildup data:
February 27, 2020 / 02:23 PM IST
Market Update: Benchmark indices recovered but still trading lower with Nifty hovering around 11,600 level.
The Sensex is down 301.75 points or 0.76% at 39587.21, and the Nifty down 95.80 points or 0.82% at 11582.70. About 635 shares have advanced, 1568 shares declined, and 115 shares are unchanged.