Taking Stock: Market ends with modest gains; coronavirus fears continue to weigh on sentiment Vinod Nair, Head of Research at Geojit Financial Services said that the funds allocated by IMF and easing monetary measures are marginally supporting global markets but India is underperforming due to coronavirus cases.
Max Financial board approves share swap with Mitsui Sumitomo; share price gains 3% The board of Max Financial Services (MFSL) has approved a transaction which will allow Mitsui Sumitomo Insurance (MSI) to swap 20.57 percent of its shareholding in Max Life insurance with 21.87 percent stake in MFSL.
Coronavirus-hit market falls 7% in just 9 sessions, but these 8 stocks buck the trend Technically, the market is trying to find a bottom after a vertical fall but there is a need for some kind of relief on the Coronavirus front for the market to witness any relief rally.
Market Headstart: Nifty likely to remain volatile, global cues to dictate the trend The US Federal Reserve on March 3 cut interest rates by half a percentage point to a target range of 1.00-1.25% in an emergency move to mitigate the impact of the coronavirus
Stocks in the news: Infosys, Bharti Airtel, Vedanta, Max Financial, NBCC Infosys | Bharti Airtel | Vedanta | Max Financial | NBCC and Reliance Communications are among the stocks that are in the news today.
Trade Setup for Wednesday: Top 14 things to know before Opening Bell Key support level for Nifty is placed at 11,189.8, followed by 11,076.3. If the index moves up, key resistance levels to watch out for are 11,379.5 and 11,455.7.
Banks take charge as chief distribution officers of private life insurers A heavy reliance on one distribution channel, namely banks, is beneficial for insurers by helping have higher-ticket-size policies.
Max Financial shares surge 4%, Axis Bank slips 2% on strategic partnership Both the stocks came on investors' radar after they entered into a confidentiality and exclusivity arrangement to explore a long-term strategic partnership.
Nomura on Max Financial: Agreement with Axis will address investor concerns on long-term distribution tie-up, the brokerage noted. It maintains a 'buy' call on the stock and raised the target to Rs 700 from Rs 550 per share.
Movers & shakers: Top 10 stocks which moved the most this week; IRCTC, Mishra Dhatu top the chart The earnings for the quarter that ended on December 2019 were largely in line with expectations, considering the economic growth slowdown.
Small & Mid-caps outperform in a truncated week; 40 stocks rose 10-30% As many as 40 stocks in the S&P BSE Small-cap index rose 10-30 percent, including Mirc Electronics, Heritage Foods, Indo Count Industries, JMT Auto, and DHFL among others
Axis Bank to explore long-term strategic partnership with Max Financial, Max Life Axis Bank is likely to hike its stake in Max Life Insurance to get a 'promoter' tag, subject to RBI and IRDAI approvals.
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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