BSE Auto & NSE Auto slip over 2% each
Both Nifty Auto and BSE Auto indices jumped over 10% in the previous trading session. They outshined the SENSEX and Nifty, which witnessed a jump of 4% each.
As the COVID19 pandemic and nationwide lockdown ravages economy, the performance of Auto stocks on Thursday was startling.
Pharma Stocks Rally
Dr. Reddy’s Lab, Lupin, Divis Lab, Sun Pharma, Cadila Healthcare, and Cipla were an all-time high hit on NSE.
Minutes of MPC from 24 March – 17 March by RBI
the ongoing Coronavirus Crisis has caused deep wounds on the financial market since January. There are rumors of another economic crisis in the country, which has caused panic sell-offs. These panic sell-offs have caused massive destruction in equity markets in both advanced and emerging economies.
Yields have risen on FPI sustained selling in the bond market.
A strong disinclination has resulted in pushed up yields in commercial paper, corporate bonds along with other fixed income sections.
There are high possibilities that the global economy might slip into recession.
Rupee slips against US Dollar in early trade
A slip oof 15 paise was witnessed in Rupee against the US Dollar. The Rupee has now fallen to 76.43 against the US dollar in opening business on Monday.
BSE Telecom and Vodafone Idea surges over 2.2% and 10 % respectively
Telecom Industry has turned down Trai’s call to give Talktime credit and extended validity to the pre-paid mobile users. They reasoned their decision by saying that they have already given benefits worth over Rs 600 crores to the low-income customers so that they can stay connected to each other during the quarantine.
A decline of 5% in Avenue Supermarts
Avenue Supermarts, the owner of immensely popular Mart (1), stated that around 50% of their retail stores are shut due to the crisis in the country, on Friday.
Other latest updates:
- Cadila healthcare has risen by 1.2%
- Dr. Reddy’s Laboratories up by 4.4%
- A drop in SENSEX by 600 points
- ZEEL witness a decline of 13.2%
- HDFC Ltd slips into red
The nationwide Lockdown has damaged several businesses so far and also had a significant impact on the economy of India. The Lockdown will most probably be extended. All we can possibly do is, look after our loved ones and hope for the best.