Market Updates – Nifty, Sensex soars over by 900 points; HUL, IDBI Bank witnesses a rise as Induslnd top laggards

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Motilal Oswal on It stocks

Ignoring the uncertainties in the rise of stocks of Infosys and HCL, it is preferred to invest in stocks of Infosys, L&T infotech, etc. 

 

Zydus Cadila gets the approval by US FDA for Imatinib Mesylate Tablets

The Cadila company has finally reached the support of the FDA to market the Mesylate tablets of 100 mg and 400 mg. This is currently used for the treatment of leukemia, bone marrow disorders, and many other diseases. 

 

Motilal Oswal gives a neutral rating on InterGlobe Aviation

Oswal has given a moderate or neutral rating to InterGlobe Aviation, has a target price of ₹1300. The stock had corrected up to 35 percent in the last 45 days. 

 

United spirits gain by 5.3 percent as United Breweries up by 3.4 percent

The Confederation of Indian Alcoholic Beverage Companies (1) has forced approximately ten states to allow the sales of alcohol, stating the temporary ban on alcoholic beverages resulted in illegal sales of drinks.

 

IDBI Bank up by 4.5 percent

The Federal Life insurance company has agreed to buy at least 27 percent of the shares of IDBI bank. This private sector has also planned to raise to ₹7500 crores through rupee bonds. 

 

Opening of Rupee

Rupee opens up higher at 76.10 compared to the Wednesday’s close, that is, 76.37.

 

RIL up by 0.6 percent

Many expect Reliance Industries Ltd. debts to fall off even if the energy and retail demand struggles for six months, in case of Coronavirus persists for six months. 

 

Ashok Leyland’s stocks get fueled by Tailwind, but its also a painful ride ahead

The shares of Ashok Leyland have surged by 29 percent from the lowest point at ₹35.70 hits on the 25th of March. 

 

Ipca, Cadila gains during the pandemic times

The shares of Ipca laboratories Ltd. and Cadila Healthcare have reached a new 52-weeks high as the government approves the exports of hydroxychloroquine. The shares of these companies are up by 30 and 40 percent, respectively.

 

Cadila hits a 52-week new high

Cadila hits a new high as the government nods for the sale of hydroxychloroquine, and this has ramped up its production by nearly ten times. 

 

Cipla hits a new high

Cipla gets the approval of the US FDA to make the generic version of an albuterol sulfate-based inhaler. This has resulted in an increase in stocks for Cipla Ltd. 

 

Markets in pre-opening

Currently, the Indian stocks are in the green as Sensex jumped by 462 points at 9:02 AM, while Nifty climbed up by 209 points. 

 

Markets at close on Wednesday

As of Wednesday, the Indian stocks were unable to procure any profits as there was uncertainty about the government’s decision on lifting the nationwide lockdown on the 14th of April. 

This has made the investors nervous as they are bound to lose some of their stock shares. 

 

Oil Update

Oil prices have further extended on Thursday. The US benchmark West Texas Intermediate rose by 4.6 percent to approximately 26.26 per barrel while Brent Crude jumped by 2.7 percent. 

 

Updates on Asian Stocks

Asian stocks experienced mixed results on Thursday as many markets slipped and even surged. 

Singapore’s Nifty was up by 1.41 percent, while Japan’s Topix Index slipped by 0.9 percent. Hong Kongs Hang Seng surged by 0.6 percent.

 

Rally of US Stocks

The stocks in the US surged on Wednesday as investors were witnessing hopeful signs of the outbreak of the Pandemic. The Dow Jones rose by 779.71 points while S&P gained by 3.41 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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