Sensex reaches new high, Dollar shoots up, HUL stocks up, Wall street slips down – Market Updates: 8th April 2020

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Nestlé stocks, HUL, FMCG has no impact due to Coronavirus

The Hindustan Limited and Nestlé have hit 52 new highs as of Wednesday during the early morning deals. With the stocks of other companies and market taking a hit due to the pandemic, the performance of these companies has been very well. 

 

PE funds have been eyeing for stakes in pharma sector

As the pharmaceutical markets have been on the rise, the PE funds are looking to buy the cheapest stakes. 

 

Adani Green Energy up by 3.6 percent

The French renewable energy company, through its subsidiary, has invested ₹3,707 crores for an exchange of 50 percent partnership with Adani Green energy Co.

 

Markets are in the recovery mode

After experiencing significant losses due to the global pandemic, Indian markets have been recouping for their injuries as Sensex climbs 1,625 points and Nifty goes up to 450 points in a single day. The Indian shares slipped 1 percent in early trade on Wednesday as investors observed the slowing rates of COVID-19 cases

 

Induslnd Bank up by 15 percent

According to the data available, the Singapore based Capital Asia has acquired 53,83,066 equity shares of Induslnd Bank at ₹367 per share. 

 

Rupee opening

The INR opened at 75.81 compared to the previous value, which was 74.63.

 

JSW Energy up by 1.8 percent

According to a report by CCI during a press release on Tuesday, the JSW Energy Co has acquired GMR Kamalanga Energy Co. Kalamanga accepted this proposed acquisition through a video conference. 

 

DHFL up by 5 percent

The Dewan Housing Finance Corporation (DHFL) stated in an interview that it would currently not be paying any lenders or bondholders as it is going through a resolution process. 

 

HUL up by 3 percent

One of the major companies of India, Hindustan Unilever Co, became the fourth company to reach a ₹5 lakh crore market value after Reliance, Tata, and HDFC bank. Their stock hit an all-time high of ₹2,526 on the BSE. 

 

Market opening

As of Wednesday, the Indian market has opened in the red after witnessing all the weak global cues. At 9:16 AM, Sensex slipped 255 points at 0. 85 percent. 

 

The current focus on stocks

Induslnd, SBI, Maruti Suzuki are among the stocks that should be focused today. 

 

Markets in Pre-opening

The current Indian markets were in the green as Sensex jumped up by 229 points at 9:02 AM, while Nifty added 60 points up. 

 

Crude updates

The US crude jumped up by 5.4 percent to $24.92 per barrel, while Brent crude added 74 cents resulting up to $32.61.

 

Asian stocks mixed after the rally

Stocks in Asia have halted a rally as the investors are weighing and witnessing the slight decrease in the rate of cases of COVID-19. Nikkei is up by 0.5%, while Shanghai slid down by 0.4%. Hong Kong’s Hang Seng almost lost 1 percent. 

 

Wall Street rally fades away

US stocks shot up on Tuesday as the outbreak of Coronavirus is on a decrease while the oil prices have tumbled down. 

After a Monday rally in New York, which impacted the European and Asian markets, it resulted in Dow slipping by 0.1 percent, S&P down by 0. 2 percent, and Nasdaq 0.3 percent. 

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Pratap is an avid reader and he wishes to give back the community something in return. He is currently pursuing Engineering in the field of Computer Science in Bengaluru. He has a genuine passion for writing and spreading it to everyone. He has a thirst for knowledge and always seeking it out and aiming to be a better version of himself.

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