Reserve Bank of India Governor Shaktikanta Das to address the media at 10:00 AM today
Sensex gained 1000 points in the early trade:
Abhishek Goenka, Founder & CEO, IFA Global:
The RBI is likely to announce measures to compliment the government’s measures. The measures could include a repo rate cut, further OMOs, LTROs, CRR cut, cap on reverse repo, liquidity injection to MF and insurance companies, relief on retail EMIs, relaxation of provisioning norms.
Market Opens: Indian indices started the April series on the positive note with Nifty above 9000 level.
At 09:16 hrs IST, the Sensex is up 1,079.02 points or 3.60% at 31025.79, and the Nifty up 366.00 points or 4.24% at 9007.45. About 505 shares have advanced, 62 shares declined, and 34 shares are unchanged.
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— moneycontrol (@moneycontrolcom) March 27, 2020
Top buy and sell ideas by Ashwani Gujral, Mitesh Thakkar, Prakash Gaba for short term
Mitesh Thakkar of miteshthakkar.com recommends buying Ashok Leyland with a stop loss of Rs 41.5, target at Rs 45 and Bharat Forge with a stop loss of Rs 279, target at Rs 294.
Rupee Opens: Indian rupee gained in the early trade on Friday. It has opened higher by 46 paise at 74.69 per dollar against previous close of 75.15.
Market at pre-open: Benchmark indices are trading positive in the pre-opening session with Nifty around 8900.
At 09:01 hrs IST, the Sensex is up 855.49 points or 2.86% at 30802.26, and the Nifty up 257.95 points or 2.99% at 8899.40.
Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities:
Nifty arrested at 8750, however, dismissal of the same would result in one more spike towards 8900 levels. The strategy should be to buy on dips till the market doesn’t break the level of 8300. On a quarterly basis, after 12 years the market closed sharply lower and the lowest of the series 7500 would act as a crucial support for the market.
Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services:
Market has cheered this fiscal package and now expect relief measures for Corporates, Banks, SMEs, start-ups, etc. It would continue to be highly volatile and would track global markets along with the trend in coronavirus cases globally and locally.
