The market opened in the green on January 30, 2020. The previous day witnessed the Sensex going up by 231.80 points to end at 41,198.66 and the Nifty was up by 73.70 points to close at 12,129.50. 

The market opened in the green on January 30, 2020. The previous day witnessed the Sensex going up by 231.80 points to end at 41,198.66 and the Nifty was up by 73.70 points to close at 12,129.50. 

On Thursday, Larsen & Toubro (L&T) announced that its water and effluent treatment business had been awarded the prestigious Engineering, Procurement, and Construction (EPC) order from Narmada Valley Development Authority (NVDA), Government of Madhya Pradesh to execute Indira Sagar-Parwati Phase III and IV Lift Micro Irrigation Project. 

In respect to an on-site inspection carried out on ICICI Lombard GIC from August 3, 2015 to August 14, 2015, the Insurance Regulatory and Development Authority of India (IRDAI) issued an order to impose a penalty of Rs 1 crore on ICICI Lombard. In addition, the regulator also issued various directions and advisory to the company.

USFDA conducted an inspection of Unit VII, which is an oral solids formulation manufacturing facility of Aurobindo Pharma Limited.

Himadri Speciality Chemical Limited (HSCL) had intimated earlier about the capacity expansion of Carbon Black (CB) manufacturing at its Mahistikry (West Bengal) plant.

Reserve Bank of India (RBI) has imposed a penalty of Rs 1 crore on HDFC Bank for non-compliance of norms related to Know Your Customer (KYC).

On the downside, the low of Tuesday’s session (12,024.50) is a very crucial support level for the index and sustaining below this level would open gates for further correction towards the levels of 11,929. Stocks in news: HDFC Bank, Himadri Speciality Chemical, MOIL, Meghmani Organics, InterGlobe Aviation, JSW Steel.

After yesterday’s relief rally, the market participants would be hoping for an extension of the rally as in the market parlance, a pre-budget rally as a countdown to the Budget has already started. But, throwing cold showers on expectation of the pre-budget rally is renewing concern about the impact of the coronavirus outbreak.

The last one year return analysis of the equity dedicated mutual fund of the fund house shows that the pure equity dedicated funds have remained laggard in their category.