Intraday Trading Tips for Equity Market

The market ended with strong gains on Tuesday, snapping losses in the past seven trading sessions. A relief rally was seen across global stock markets on hope that global central banks will introduce monetary policy measures to mitigate the economic impact of the coronavirus. The media reported that the Group of Seven (G-7) industrial powers were expected to issue a statement this week on on countering the coronavirus outbreak. Meanwhile, a statement by the Reserve Bank of India (RBI) also boosted investor’s confidence.

Global Markets  

BMW (DE:BMWG) on Tuesday said its China sales have taken a hit this year because of the new coronavirus, but stuck to its target for growing passenger car sales for the year, and said its global supply chain has not been disrupted.The slowdown in sales will last until March, and it is too early to make predictions about whether BMW would fail to meet its global sales targets

Stock Snippets

Equitas Small Finance Bank, the subsidiary of Equitas Holdings, has received approval from capital market regulator SEBI on March 3 to launch initial public offering.

The power transmission & distribution business of L&T Construction has bagged orders in India and overseas.

Infosys and IBM collaborate to help businesses accelerate digital transformation with IBM Public Cloud

NCLT Mumbai and Bengaluru sanction scheme of merger by absorption between Tech Mahindra Growth Factories and Dynacommerce India Private with the company

Maharashtra State Electricity Distribution Company has handed over Shil, Mumbra and Kalwa divisions and its operations to Torrent Power.

Reliance Capital defaulted on term loan on January 31, 2020 due to HDFC and Axis Bank. Delay in debt servicing is due to the prohibition on the company to selloff its assets.

Global Markets

Shares in Europe extended gains while Asian shares ended mostly higher on Tuesday on hopes that central banks will coordinate some kind of monetary policy response to lessen the economic impact of the coronavirus. Global financial ministers and central bankers will hold a conference call on Tuesday to coordinate their response to the outbreak.

In US, the Dow Jones Industrial Average scored its biggest one-day percentage gain in nearly 11 years on Monday, as stocks bounced back sharply from the previous week’s selloff, with the rebound fuelled by expectations that policy makers will move to cushion the impact of the COVID-19 outbreak on the global economy. The Dow Jones rallied 1,294 points, most in its history.

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