COVID-19: FMCG sector sees gains in pockets
The Indian currency market will remain shut today on account of Gudhipadwa.
Market at pre-open: Indian indices are trading lower in the pre-opening session with Nifty around 7750 level.
At 09:01 hrs IST, the Sensex is down 198.12 points or 0.74% at 26475.91, and the Nifty down 38.15 points or 0.49% at 7762.90.
Oil Updates: Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes Washington will soon approve a massive aid package to stem the economic impact of the coronavirus pandemic.
Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities:
Although, India and other countries are announcing relief measures to stabilize the falling stock markets, fear of coronavirus is increasing day by day unless a solution is found to it. The 8170/8200 levels would be major hurdles. The strategy should be to buy on dips with a final stop loss at 7700.
Nation under lockdown for 21 days, but stock market will stay open
Prime Minister Narendra Modi on March 24 announced a lockdown in the entire country starting midnight from Tuesday for the next 21 days, but stock market operations will continue, as usual, Ashish Chauhan, CEO, BSE said in a tweet.
Mainland China reports drop in new imported coronavirus cases: Mainland China reported a drop in new confirmed coronavirus cases on Wednesday as imported infections fell and no locally transmitted infections were reported, including in central Hubei province, the epicenter of the outbreak in China.
SEBI to CNBC-TV18: Stock market operations to be in-line with orders of Centre, States and SEBI notifications. Monitoring the situation and will take more action if required.
Hot Stocks | Here’s why you should sell Siemens, Pidilite and Tata Steel
After hitting the lower circuit in intraday trade on March 23, the Indian market saw some recovery on March 24 with Nifty ending above 7,800-mark, taking cues from firm global markets.
Institutional trading activity
