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Barometers turn rangebound; metal stocks advance
(12:25, 28 May 2020)

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The-market-traded-in-a-narrow-range-near-the-day's-high-in-early-afternoon-trade.-At-12:25-IST,-the-barometer-index,-the-S&P-BSE-Sensex,-was-up-539.74-points-or-1.71%-at-32,144.96.-The-Nifty-50-index-added-153.85-points-or-1.65%-at-9,468.80.-

In-the-broader-market,-the-S&P-BSE-Mid-Cap-index-rose-1.09%-while-the-S&P-BSE-Small-Cap-index-gained-1.38%.-

The-market-breadth-was-strong.-On-the-BSE,-1448-shares-rose-and-645-shares-fell.-A-total-of-129-shares-were-unchanged.-In-the-Nifty-50-index,-41-shares-advanced-while-9-stocks-declined.

The-media-reported-that-India's-GST-Council-is-likely-to-meet-in-the-second-week-of-June-to-discuss-the-impact-of-the-coronavirus-pandemic-on-the-economy-of-states,-among-other-things.-

COVID-19-Update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-56,95,968-far-with-3,55,701-deaths.-India-reported-86,110-active-cases-of-COVID-19-infection-and-4,531-deaths,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

Derivatives:

The-NSE's-India-VIX,-a-gauge-of-market's-expectation-of-volatility-over-the-near-term,-fell-3.07%-to-30.31.-The-Nifty-June-2020-futures-were-trading-at-9,415.35,-a-discount-of-53.45-points-compared-with-the-spot-at-9,468.80.

On-the-options-front,-the-Nifty-option-chain-for-25-June-2020-expiry-showed-maximum-call-open-interest-(OI)-of-16.95-lakh-contracts-at-the-10,000-strike-price.-Maximum-put-OI-of-20.69-lakh-contracts-was-seen-at-9,000-strike-price.-

Buzzing-Index:

The-Nifty-Metal-index-rose-2.13%-to-1,839.70,-extending-gains-for-third-day.-The-index-has-gained-7.6%-in-three-sessions.-

NMDC-(up-3.66%),-Jindal-Steel-&-Power-(up-3.52%),-Hindalco-Industries-(up-3.41%),-Steel-Authority-of-India-(up-2.36%),-Hindustan-Zinc-(up-1.94%),-Hindustan-Copper-(up-1.38%),-Vedanta-(up-1.37%),-Tata-Steel-(up-1.27%),-National-Aluminium-Company-(up-1.2%)-and-JSW-Steel-(up-0.59%)-advanced.

Stocks-in-Spotlight:-

Tata-Investment-Corporation-rose-1.13%-to-₹-708.55.-The-company-reported-consolidated-net-loss-of-₹-36.75-crore-in-Q4-March-2020,-higher-than-net-loss-of-₹-6.02-crore-in-Q4-March-2019.-Total-income-dropped-17.2%-to-₹-21.41-crore-in-Q4-FY20-over-₹-25.87-crore-in-Q4-FY19.-Pre-tax-loss-in-the-fourth-quarter-stood-at-₹-36.62-crore-as-against-pre-tax-loss-of-₹-4.42-crore-reported-in-the-corresponding-period-last-year.

Tube-Investments-of-India-rallied-8.27%-to-₹-335.85-after-consolidated-net-profit-gained-5.8%-to-₹-59.76-crore-on-22.1%-decline-in-net-sales-to-₹-989.40-crore-in-Q4-March-2020-over-Q4-March-2019.-Consolidated-profit-before-tax-(PBT)-dropped-23.4%-to-₹-67.38-crore-in-Q4-FY20-over-Q4-FY19.

Quess-Corp-fell-1.46%-to-₹-199.05-after-consolidated-net-loss-stood-at-₹-629.92-crore-in-Q4-March-2020-compared-with-net-profit-of-₹-75.50-crore-in-Q4-March-2019.-Consolidated-net-sales-jumped-30.5%-to-₹-2,994.59-crore-in-Q4-March-2020-over-₹-2,294.77-crore-in-Q4-March-2019.-Pre-tax-loss-stood-at-₹-594.36-crore-in-Q4-March-2020-as-compared-to-a-pre-tax-profit-of-₹-87.59-crore-in-Q4-March-2019.-

The-company-incurred-one-off-non-cash-charge-of-₹-664-crore-on-account-of-goodwill-impairment-and-change-in-tax-regime.-Consolidated-EBITDA-grew-28%-to-₹-169-crore-in-Q4-FY20-over-Q4-FY19-due-to-Covid-19-impact.-EBITDA-margin-stood-at-5.63%-in-Q4-FY20-as-against-5.74%-in-Q4-FY19.-

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The-market-traded-in-a-narrow-range-near-the-day's-high-in-early-afternoon-trade.-At-12:25-IST,-the-barometer-index,-the-S&P-BSE-Sensex,-was-up-539.74-points-or-1.71%-at-32,144.96.-The-Nifty-50-index-added-153.85-points-or-1.65%-at-9,468.80.-

In-the-broader-market,-the-S&P-BSE-Mid-Cap-index-rose-1.09%-while-the-S&P-BSE-Small-Cap-index-gained-1.38%.-

The-market-breadth-was-strong.-On-the-BSE,-1448-shares-rose-and-645-shares-fell.-A-total-of-129-shares-were-unchanged.-In-the-Nifty-50-index,-41-shares-advanced-while-9-stocks-declined.

The-media-reported-that-India's-GST-Council-is-likely-to-meet-in-the-second-week-of-June-to-discuss-the-impact-of-the-coronavirus-pandemic-on-the-economy-of-states,-among-other-things.-

COVID-19-Update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-56,95,968-far-with-3,55,701-deaths.-India-reported-86,110-active-cases-of-COVID-19-infection-and-4,531-deaths,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

Derivatives:

The-NSE's-India-VIX,-a-gauge-of-market's-expectation-of-volatility-over-the-near-term,-fell-3.07%-to-30.31.-The-Nifty-June-2020-futures-were-trading-at-9,415.35,-a-discount-of-53.45-points-compared-with-the-spot-at-9,468.80.

On-the-options-front,-the-Nifty-option-chain-for-25-June-2020-expiry-showed-maximum-call-open-interest-(OI)-of-16.95-lakh-contracts-at-the-10,000-strike-price.-Maximum-put-OI-of-20.69-lakh-contracts-was-seen-at-9,000-strike-price.-

Buzzing-Index:

The-Nifty-Metal-index-rose-2.13%-to-1,839.70,-extending-gains-for-third-day.-The-index-has-gained-7.6%-in-three-sessions.-

NMDC-(up-3.66%),-Jindal-Steel-&-Power-(up-3.52%),-Hindalco-Industries-(up-3.41%),-Steel-Authority-of-India-(up-2.36%),-Hindustan-Zinc-(up-1.94%),-Hindustan-Copper-(up-1.38%),-Vedanta-(up-1.37%),-Tata-Steel-(up-1.27%),-National-Aluminium-Company-(up-1.2%)-and-JSW-Steel-(up-0.59%)-advanced.

Stocks-in-Spotlight:-

Tata-Investment-Corporation-rose-1.13%-to-₹-708.55.-The-company-reported-consolidated-net-loss-of-₹-36.75-crore-in-Q4-March-2020,-higher-than-net-loss-of-₹-6.02-crore-in-Q4-March-2019.-Total-income-dropped-17.2%-to-₹-21.41-crore-in-Q4-FY20-over-₹-25.87-crore-in-Q4-FY19.-Pre-tax-loss-in-the-fourth-quarter-stood-at-₹-36.62-crore-as-against-pre-tax-loss-of-₹-4.42-crore-reported-in-the-corresponding-period-last-year.

Tube-Investments-of-India-rallied-8.27%-to-₹-335.85-after-consolidated-net-profit-gained-5.8%-to-₹-59.76-crore-on-22.1%-decline-in-net-sales-to-₹-989.40-crore-in-Q4-March-2020-over-Q4-March-2019.-Consolidated-profit-before-tax-(PBT)-dropped-23.4%-to-₹-67.38-crore-in-Q4-FY20-over-Q4-FY19.

Quess-Corp-fell-1.46%-to-₹-199.05-after-consolidated-net-loss-stood-at-₹-629.92-crore-in-Q4-March-2020-compared-with-net-profit-of-₹-75.50-crore-in-Q4-March-2019.-Consolidated-net-sales-jumped-30.5%-to-₹-2,994.59-crore-in-Q4-March-2020-over-₹-2,294.77-crore-in-Q4-March-2019.-Pre-tax-loss-stood-at-₹-594.36-crore-in-Q4-March-2020-as-compared-to-a-pre-tax-profit-of-₹-87.59-crore-in-Q4-March-2019.-

The-company-incurred-one-off-non-cash-charge-of-₹-664-crore-on-account-of-goodwill-impairment-and-change-in-tax-regime.-Consolidated-EBITDA-grew-28%-to-₹-169-crore-in-Q4-FY20-over-Q4-FY19-due-to-Covid-19-impact.-EBITDA-margin-stood-at-5.63%-in-Q4-FY20-as-against-5.74%-in-Q4-FY19.-

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