We had mentioned in Tuesday’s closing report that Nifty, Sensex may rally further. The major indices rallied with major gains. On the NSE, there were 1,275 advances, 503 declines and 342 unchanged. The trends of the major indices in the course of Thursday’s trading are given in the table below:
Indian equity indices surged on Thursday morning with the BSE Sensex gaining over 1,500 points.
Finance Minister Nirmala Sitharaman indicated that concerns of India Inc, small-to-medium enterprises (SMEs) segments and other segments hit by the lockdown might be looked at and the government could announce a plan later. Meanwhile, the FM announced a Rs 1,70,000 crore package, aimed at providing food security to the poor and money in their hands to fight the Covid-19 pandemic issues.
The Conferederation of Indian Industry (CII) has suggested a 10-point action plan to provide the much needed boost to exports that has been hit hard by COVID-19 pandemic and closing of borders and restriction on people's movement.
In the wake of substantial reduction in demand for petroleum products post the Covid-19 outbreak in the country, public sector refiner Indian Oil Corporation has reduced crude processing at most of its refineries by 25% to 30%.
In continuation to the phase out process of thermal power station-I (TPS-1) of NLC India, unit-1 (50 MW) and unit-9 (100 MW) are planned for decommissioning by 31 March 2020 and the station generating capacity would be 350 MW from the present capacity of 500 MW.
Caplin Point Laboratories has been granted final approval from the USFDA for Verapamil Hydrochloride injection. It is a calcium channel blocker used in the treatment of cardiac conditions such as high blood pressure, arrhythmias and angina.
The 2nd unit of 660 MW of Khargone Super Thermal Power Project has successfully completed its trial operation. With this, the total installed capacity of Khargone Super Thermal Power Project, NTPC and NTPC group has become 1,320 MW, 50,355 MW and 58,816 MW respectively.
India's central bank and major lenders are considering shutting down most branches across the country to prevent tens of thousands of employees from getting infected with the coronavirus, four sources familiar with the plan told Reuters.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below: