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'Oxygen' rally in stock market: Name enough to lift shares in Covid-era

Oxygen rally in stock market: Name enough to lift shares in Covid-era Over the past few days, India has ramped up oxygen production nationwide as supplies of the gas have fallen short and infections surge Reuters | April 20, 2021 | Updated 14:33 IST With Indian COVID-19 patients struggling to find medical oxygen in the middle of a second deadly wave of coronavirus infections, shares in companies that produce the gas - or simply have it in their names - are rallying. Bombay Oxygen, National Oxygen Ltd and Bhagawati Oxygen Ltd - all tiny firms not listed on any major stock index - have surged 47% or more in April, a period in which India s broader market has slumped 2%.

Real and Imaginary Shares in Oxygen Rally as India Battles Virus Surge

Oxygen shares, real and imaginary, rally as India battles virus surge

19Apr2021 Pre-Market Commentary: Wall Street Futures Are Lower This Morning, DOW Down 65 Points, Nasdaq -0.5%, US Dollar Slips Fractionally 91.12, Bitcoin Is Sinking 56800

Authored by Wolf Richter via WolfStreet.com, Archegos shows how leverage is the great accelerator of stock prices on the way up, and on the way down. One of its bets, ViacomCBS, after skyrocketing, collapsed by 60%. Vast, unreported, and at the time unknown amounts of leverage blew up Archegos Capital Management, dishing out enormous losses to its investors, the banks that brokered the swaps, and holders of the targeted stocks. The amount of leverage became known only after it blew up as banks started picking through the debris. ViacomCBS [VIAC] was one of the handful of stocks on which Archegos placed huge and highly leveraged bets, thereby pushing the shares into the stratosphere until March 22, after which they collapsed by 60%.

Market Movers: Pharma stocks surge, banks sink; 37 stocks blink sell

Market Movers: Pharma stocks surge, banks sink; 37 stocks blink sell SECTIONS Share Synopsis As many as 37 stocks listed on the National Stock Exchange gave sell signals based on MACD indicators. Names include NALCO, NMDC, Titan Company, Cyient and Tanla Platforms. Shutterstock.com For the day, the Nifty50 index closed 1.8 per cent, or 258.4 points, lower at 14,359.45, while the BSE-Sensex ended at 47,949.4, down 882.6 points or 1.8 per cent. Related MUMBAI: Benchmark equity indices ended deep in the red despite recouping some of the losses towards the end of the session as investors were spooked by the surging COVID-19 infections and deaths in the country.