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Market Live Updates: Nifty up by 9200 as FMCG, Pharma stocks rally, Wall Street reaches a new high

The Indian market opened in the green on Wednesday as Sensex soars over by 800 points and Nifty adds by 200 points. Here are
The Indian market opened in the green on Wednesday as Sensex soars over by 800 points and Nifty adds by 200 points. Here are the market updates for today.

Approximately 33 percent of rating actions for firms factored green:

Moody’s investor service had recently considered exposure to social and governance risks by 33 percent of its 8000 rating actions in 2019.

Sebi waiting for a reply on FPIs from China, other nations:

The Securities and Exchange Board of India took a decision on Monday, which mandated the vetting by the markets regulator of funds coming from other nations.

The Jindal Steel and Power Limited have planned to take loans in the coming years and to convert that into assets by keeping the cash flow regular and to generate more cash flow. This will aid in maintaining a strong balance sheet.

IndiGo down by 5 percent as SpiceJet crashes by 3.5 percent:

The Indian Civil Aviation industry, which is already running on a loss due to the global pandemic, is expected to lose more money as the nationwide lockdown extended till 3rd May.

Hindalco up by 4 percent:

Finally, Kumar Mangalam Birla’s Hindalco has acquired the Ohio-based aluminum products maker, Aleris Corp.

Motherson Sumi up by 12.8 percent:

The board of directors and the CEO of Motherson Sumi have finally approved to invest ₹10 Billion to secure liquidity during this pandemic.

Biocon up by 2.2 percent:

Biocon and Mylan have jointly produced and released a new drug, ‘Fulphila,’ which will prove to be effective in the treatment of cancer following chemotherapy.

Maruti Suzuki down by 0.71 percent:

One of the automobile giants, Maruti Suzuki, has currently suspended the manufacturing of cars in its Gujarat branch due to the spread of Coronavirus.

Market opening:

As of Wednesday, the Indian market opened in the green as Sensex opened by 587 points and Nifty added over 200 points.

Market pre-opening:

The benchmark equity indices were in the green during the pre-opening session on Wednesday as the stocks of Nifty and Sensex rises.

Lockdown to be extended till 3rd May:

To stop the spread of Coronavirus, Prime Minister Narendra Modi has imposed another 19-days Lockdown, which will prove to be effective.

Previous closing of the market:

The equities benchmark ended lower On Monday as the investors were expecting a further extension of lockdown. The BSE Sensex ended at 30,690, which was down by 490 points.

Crude update:

The West Texas crude further added 2.2 percent, which resulted in $20.55 per barrel. The US crude was last up by 33 cents at $20.44, while Brent Crude is up by 23 cents.

Asian stocks see mixed results:

Asian markets witness mixed results as SGX Nifty up by 1.8 percent while South Korea’s KOSPI (1) advances by 1.7 percent. At the same time, Hang Seng slips by 0.3 percent.

Wall Street Rises:

The stock market in the US experienced a jump as Dow Jones rose by 560. Forty-three points and the S&P gained 84.12 points, and Nasdaq Composite added by 323.32 points.