Sensex Climbs 5% on Stimulus
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EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE THE HINDU DELHI FRIDAY, MARCH 27, 2020 BUSINESS 11 EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE market watch 26-03-2020 % CHANGE Crisil cuts growth estimate Sensex dddddddddddddddddddddddd29947 ddddddddddddddd4.94 Sensex climbs 5% on stimulus US Dollardddddddddddddddddddd 75.16 ddddddddddddddd1.03 Brent oil ddddddddddddddddddddd 27.52 ddddddddddddddd3.97 Cites pandemic, lowers FY21 outlook to 3.5% from 5.2% FM’s announcement of package calms investor jitters amid lockdown NIFTY 50 SPECIAL CORRESPONDENT The slump in risk to India’s economic out PRICE CHANGE Press Trust of India dressed to corporates or Mumbai <> look. The impact of social Mumbai growth will be Adani Ports. ............. ..... 248.20. ....... -7.40 SMEs ‘are still missing’ in the Rating agency Crisil has cut distancing and decline in Asian Paints. ............ ... 1616.95. ...... 23.80 concentrated in Axis Bank . ................ ..... 341.40. ...... 14.60 Equity benchmarks surged package. “Perhaps this will the country’s GDP growth discretionary spending will the first half of the Bajaj Auto . ............... ... 2106.85. .... 160.10 for the third straight session be followed by a monetary forecast for the next finan aggravate the downturn in Bajaj Finserv. ........... ... 5147.25. .... 316.95 on Thursday, logging their stimulus by RBI, along with cial year to 3.5% from 5.2% next fiscal the AprilJune quarter, and Bajaj Finance . .......... ... 2793.70. .... 208.10 Dharmakirti Joshi Bharti Airtel . ........... ..... 470.70. ...... 41.60 best threeday gains in years, forbearance on loan projected earlier, due to the the sharp slowdown in key chief economist Crisil. BPCL. ........................ ..... 282.30. ........ 8.55 after the government’s repayments.” spread of COVID19. tradingpartner economies Britannia Ind . .......... ... 2588.45. .... 137.05 muchawaited stimulus mea According to traders, vola “We have slashed our sional ramifications be will hit exports. Cipla . ........................ ..... 386.15. ........ 9.70 Coal India . ............... ..... 123.25. ....... -1.25 sures for COVID19 lock tility remained during the basecase gross domestic cause, and unlike the global Services, which account Dr Reddys Lab . ........ ... 2948.55. ...... 26.55 downhit segments lifted day as March derivatives product (GDP) growth fore financial crisis of 2008, it for 41% of total exports, have Eicher Motors. ......... 14757.95. .... 241.35 GAIL (India). ............ ....... 73.10. ....... -2.45 sentiment. contracts expired. cast for fiscal 2021 to 3.5% has not only slammed the been resilient so far, but a re Grasim Ind . .............. ..... 471.40. ...... 20.05 The BSE gauge Sensex from the 5.2% expected ear brakes on economic activity cession in the advanced eco HCL Tech. ................. ..... 447.70. ....... -9.90 surged 1,410.99 points, or Rupee climbs lier. This assumes two and jeopardised financial nomies would dampen the HDFC . ....................... ... 1733.25. ...... 87.20 HDFC Bank. .............. ..... 901.10. ...... 44.35 4.94 %, to settle at 29,946.77, Traders say market volatility remained during the day as The rupee appreciated 57 things: a normal monsoon, stability, but also brought prospects for ITITeS, tou Hero MotoCorp . ...... ... 1801.90. .... 134.25 while the NSE barometer Nif March derivatives contracts expired. * PAUL NORONHA paise to 75.37 against the U.S. and the effect of the pan with it enormous human suf rism and bring down servic Hindalco . ................. ....... 94.55. ........ 0.00 ty shot up 323.60 points, or dollar in intraday trade. demic subsiding materially, fering not seen in decades. es’ exports growth. Hind Unilever . ......... ... 2194.90. .... 106.75 ICICI Bank . ............... ..... 330.25. ...... 13.35 3.89%, to 8,641.45. HUL and HDFC — rising up to announced a slew of mea In positive news for In if not wearing out, in the “Since our last forecast of On inflation, Crisil said it IndusInd Bank . ........ ..... 435.90. .... 134.60 After the worstever crash 10%. sures worth ₹1.70 lakh crore dia’s fiscal health, crude oil AprilJune quarter,” said 5.2% GDP growth for fiscal may soften in FY21 for three Bharti Infratel . ........ ..... 156.50. ........ 9.00 on Monday, the Sensex has On the other hand, Maruti to help citizens survive the prices continued to trade be Dharmakirti Joshi, chief eco 2021, the scenario has wor reasons; one, the abnormal Infosys . .................... ..... 643.00. ...... 36.80 Indian OilCorp. ........ ....... 78.00. ........ 0.15 recovered by 3,965.53 Suzuki, Tech Mahindra, Sun crisis. low $30 a barrel amid a steep nomist, Crisil. sened notably. S&P Global surge in food inflation in ITC . ........................... ..... 156.40. ........ 9.05 points, or 15.26%, over the Pharma and Reliance Indus Paras Bothra, president of fall in demand due to CO has marked global growth 2019 has started to correct; JSW Steel. ................ ..... 149.80. ....... -2.00 last three sessions. Likewise, tries closed with losses. Equity Research, Ashika VID19led lockdowns in ma Mild recovery in H2 down significantly, predict two, core inflation will re Kotak Bank . ............. ... 1372.95. ...... 82.80 L&T. .......................... ..... 838.00. ...... 72.25 the NSE Nifty has regained The broader markets also Stock Broking, said domestic jor parts of the world. The “The slump in growth will ing a likely recession in the main moderate with slowing M&M . ....................... ..... 285.50. ........ 7.65 1,031.20 points, or 13.55%, in gained momentum with the markets zoomed for the se international oil benchmark, be concentrated in the first U.S. and the Eurozone, and growth; and three, the sharp Maruti Suzuki . ......... ... 4878.00. .. -127.95 three days. Nifty Midcap and Smallcap cond day on the trot, driven Brent crude futures fell half of the next fiscal, while lowering China’s growth to drop in crude prices will Nestle India Ltd. .... 14919.65. .... 475.55 NTPC . ....................... ....... 79.65. ....... -0.05 On the Sensex chart, In indices rising 3% each. by optimism on the $2 tril 2.15% to $26.80 per barrel. the second half should see a 2.9% from 4.8% with domi keep fuel inflation soft. ONGC . ...................... ....... 64.75. ........ 3.20 dusInd Bank was the top In an effort to cushion the lion package to the U.S. eco Bourses in Shanghai, mild recovery,” he said. nant downside risks,” the “With base effect also PowerGrid Corp . ..... ..... 158.35. ........ 8.10 gainer, rallying up to 46%. economic blow of the 21day nomy and also in anticipa Hong Kong, Tokyo and Seoul According to the rating rating agency said, adding kicking in, the second half of Reliance Ind . ........... ... 1066.20. .....-16.05 State Bank . .............. ..... 192.75. ........ 2.85 Other winners were Bharti lockdown in wake of the CO tion of an economic package ended significantly lower. agency, COVID19 is now the the pandemic in India and next fiscal should see a per Shree Cement . ........ 17554.05. .... 115.80 Airtel, L&T, Bajaj Finance, VID19 pandemic, Finance for the Indian economy. Benchmarks in Europe were foremost risk for the world the consequent lockdown ceptible drop in inflation,” Sun Pharma . ............ ..... 338.30. ....... -9.35 Kotak Mahindra, Bajaj Auto, Minister Nirmala Sitharaman He said that measures ad also trading in the red. economy with multidimen for 21 days posed a material the rating agency said. Tata Motors . ............ ....... 70.80. ........ 0.55 Tata Steel . ............... ..... 284.45. ....... -2.35 TCS . .......................... ... 1790.95. ...... 40.65 Tech Mahindra . ....... ..... 515.20. .....-11.50 Titan . ....................... ..... 928.30. ...... 47.50 UltraTech Cement. .. ... 3229.15. ........ 0.55 Centre, States splurge on Board okays Yes Bank UPL. .......................... ..... 312.55. ...... 19.75 Ensure smooth transfer of funds Vedanta . .................. ....... 65.80. ........ 1.60 Wipro . ...................... ..... 182.60. ........ 7.95 Zee Entertainment . ..... 128.75. ........ 3.25 COVID19 advertisements to Jan Dhan accounts, banks told plan to raise ₹5,000 cr. EXCHANGE RATES Union Health Ministry tops the list To raise funds in one or more tranches Indicative direct rates in rupees a unit except yen at 4 p.m. on March 26 Replenish ATMs regularly to meet requirement: FinMin CURRENCY TT BUY TT SELL Mini Tejaswi try of Health and Family SPECIAL CORRESPONDENT Bengaluru Mumbai US Dollar. .................... 74.95. ......75.27 Welfare tops the list with SPECIAL CORRESPONDENT of beneficiaries and share it Euro . ............................ 82.08. ......82.44 There has been a tremen 28% share in ad volumes. Mumbai with the Ministry. “After re The newlyconstituted British Pound. ............. 89.70. ......90.10 dous increase in social