Sensex, Nifty Updates: Benchmarks Sensex and Nifty closed on a bearish note on Thursday, backed by weak global cues as investors globally fretted over the weak economic data and rising COVID-19 cases. Sensex closed 242 points lower at 31,443 and Nifty fell to 9,199, down 71 points. Experts said domestic investors remained worrisome over the delay in the announcement of second fiscal stimulus. Markets were also volatile after Trump said China may or may not keep a trade deal between the two countries.
Globally stocks fell on back of downbeat economic data, heightening the economic fallout of the coronavirus outbreak and growing worries about falling demand that kept oil prices below $30per barrel. Investor sentiments were also weak due to spiking COVID-19 cases in the country and worldwide. Globally, there are 38.22 lakh confirmed cases and 2.65 lakh deaths from the coronavirus COVID-19 outbreak. In India, countrywide coronavirus tally has climbed to 52,987, while the death toll rose to 1,785. Foreign portfolio investors being net sellers in the capital market also added to negative sentiments.
Here's a look at the updates of the market action on BSE and NSE today
3. 54 PM: Closing bell
Benchmarks Sensex and Nifty closed on a bearish note on Thursday, backed by weak global cues as investors globally fretted over the weak economic data and rising COVID-19 cases. Sensex closed 242 points lower at 31,443 and Nifty fell to 9,199, down 71 points.
3. 44 PM: GMR Infra shares rise in trade
GMR Infra share price gained 1.18% to Rs 17.15 on BSR as the company said thet none of the group companies in Airports & Trans business have approached banks for loan restructuring.
3. 33 PM: Siemens share price gains 2%
Siemens share price gained 2.19% to the day's high of Rs 1073 on BSE after the company said its board plans to consider second quarter results on May 13, 2020.
3.27 PM: Solara Active Pharma share price falls 13% post results
Solara Active Pharma share price touched an intraday low of Rs 493.3, falling 13.39% on BSE after company reported its quarterly results.
Solara Active Pharma reported 32 % fall (YoY) in consolidated net profit to Rs 17 crore during the quarter ended March 31, 2020 as against Rs 26 crore, recorded in a year-ago period. Total income fell 23% (YoY) to Rs 297 crore in the January- March quarter of the current fiscal as compared to Rs 385 crore in the same period last financial year.
3.19 PM: Global cues
Asian markets are trading lower as investors take note of data from China that the services sector declined sharply in the month of April. Nikkei is trading lower by 0.20%, Hang Seng is trading lower by 0.57% and Shanghai is trading lower by 0.26%. Indian indices are expected to open lower. Sgx Nifty is trading lower by 1.34%.
The U.S markets ended mixed in a lackluster session. The Dow Jones lost 218 points or 0.91% to close at 23,665, while the NASDAQ gained 45 points or 0.51% to close at 8,854.
3.11 PM: Persistent Systems share price gains over 5%
Persistent Systems share price touched an intraday high of Rs 531.75,rising 5.39% on BSE after the company said it has expanded partnership with Dassault to strengthen digital transformation capabilities in Europe.
3.02 PM: Cadila Healthcare share price recovers from losses
Cadila Health share price recovered from 2% drop to the day's low of Rs 320 and traded at Rs 322 after the issued clarifications, saying that certain media reports wrongly stated that workers at co's plant were found COVID-19 positive. This was mistakenly attributed to company & is factually incorrect, the filing added.
2.53 PM: Gabriel share price gains over 4%
Gabriel share price opened with a gain of 4.05% and later rose 4.39% to the day's high of Rs 76.05 on BSE after the company said it has partially resumed manufacturing operations at its various locations.
2.44 PM: Minda Industries share price gains 2.5%
Minda Industries share price rose 2.57% to an intraday high of Rs 263.8 after the said its commercial paper of Rs 30 crore with the maturity date of May 5 has been redeemed.
2.39 PM: Shriram Transport Finance share price falls 2%
Shriram Transport Finance shares touched an intraday low of Rs 765, falling 2.1% on BSE after the company said CRISIL revised its rating outlook to 'Negative'
CRISIL has revised its outlook on the long term debt instruments, bank facilities and fixed deposit programme of Shriram Transport Finance Company Limited (STFCL) to 'Negative' from 'Stable' while reaffirming the rating at 'CRISIL AA+/CRISIL PP-MLD AA+r/FAAA'. The short-term rating on commercial paper and bank facilities has been reaffirmed at 'CRISIL A1+'.
2.32 PM: Apollo Pipes share price
Apollo Pipes share price rose 11.09% to an intraday high of Rs 346 after Promoter Sameer Gupta bought another 1,51,000 shares at Rs 315.01 per share.
2.14 PM: Automakers restart operations
On Wednesday, a clutch of automakers including Maruti Suzuki, Hero MotoCorp, Mercedes Benz India, Eicher Motors, TVS Motor, and Isuzu Motors India announced they had got the clearance from the governments of the states they operate in to resume operations.
2.09 PM: Welspun Enterprises gains 5%
Welspun Enterprises share price opened with a gain of 3.98% today and later climbed 5% to an intraday high of Rs 51.45 after the company announced its plan to acquire a Build-Operate-Transfer (BOT) Toll project from Essel group's company Mukarba Chowk - Panipat Toll Roads Limited, subject to NHAI final approval.
2.02 PM: Quarterly results announcements
Subex: May 11, 2020
Maruti Suzuki India: May 13, 2020
Godrej Consumer Products: May 13, 2020
Accelya Solutions India: May 14, 2020
Rain Industries: May 28, 2020
1. 55 PM: FII outflows
FIIs have pulled out Rs 29 billion in the May month and 906.4 billion since the beginning of the year.
1. 37 PM: Munjal Auto share price jump 9%
Munjal Auto share price has opened with a gain of 6.19% and later climbed 9.06 % to the intraday high of Rs 37.9 on BSE after the company said it has partially resumed manufacturing operations at its various locations
1.30 PM: Supreme Petrochem share price rises 8%
Supreme Petrochem share price opened with a gain of 4.67% today and later climbed 7.9% to an intraday high of Rs 170 as the company itself acquired 10,68,000 shares at Rs 163.8 per share.
1.18 PM: European markes turn green at open
European markets opened in green on Thursday, with FTSE up 0.35%, CAC 0.50% and DAX up 0.70%.
Where most Asian indices continued in red territory, Taiwan, Nikkei, Strait Times turned green. SGX Nifty traded 0.57% or 50 points lower.
1.15 PM: Eicher Motors share rises 1%
Eicher Motors share price gained 1% to Rs 14,015 on BSE after the compaby said it has resumed operations at its manufacturing unit at Oragadam in Tamil Nadu.
1.05 PM: Dr Reddy Laboratories shares climb 2.06%
Dr Reddy Laboratories shares climbed 2.06% to the intraday high of Rs 3936.35 on BSE after the company said it received US FDA approval for Celecoxib Oral Solution which is indicated for the acute treatment of migraine.
12. 59 PM: Future Retail share price climbs 5%
Future Retail share price opened with a gain of 4.99% to the intraday high of Rs 76.8 on BSE following reports that the company has pffered big stake to Amazon.
12.47 PM: Sun Pharma share price climbs 2.5%
Sun Pharma share price rose 2.45% to the intraday high of Rs 465.7 after the company received US FDA nod for Esomeprazole Magnesium. Esomeprazole Magnesium is used to treat certain stomach and esophagus problems.
12.35 PM: Kotak Mahindra Bank top loser today
Kotak Mahindra Bank share price touched an intraday low of Rs 1184.65, falling 4.88% on BSE and traded as the top loser on Nifty today after the firm said it has decided on a 10% reduction in CTC for all colleagues with a salary of more than Rs 25 Lakh per annum, with effect from May 2020 for FY21. Employees earning less than Rs 25 lakh p.a. will not be impacted, the company statement added.
12. 31 PM: YES Securities on Oil prices
- Oil Prices remain relatively firm after API inventory report showed US crude oil inventories rising by 8.4 million barrels, about in line with estimates, but well below recent builds.
- Gasoline inventories came in with a surprising draw, falling by 2.2 million barrels.
- Meanwhile, supply cuts by OPEC are starting to filter through and helping the rally along.
- Saudi exports in May is expected to drop to 6 million barrels a day, the lowest in almost a decade.
12.28 PM: BOFA on Indian Pharma:
High demand for injectable in US.
Raise target price of Dr Reddy and Glenmark (Positive)
12.09 AM: SBI share price falls 2%
State Bank Of India share orice fell 2.25% to an intraday low of Rs 167.2 on BSE after the lender announced that it has decided to offer moratorium to NBFC on a case-to-case basis.
11.58 AM: Aster DM Healthcare share price jumps 10%
Aster DM Healthcare share price opened with a gain of 7.32% today and later gained 10% to the intraday high of Rs 104.5 on BSE.
Company said that Aster Clinical Lab LLP (Aster Labs), the diagnostics arm of Aster DM Healthcare, has started providing RT-PCR confirmatory test service for Covid-19 in Bengaluru.
11. 50 AM: Maruti Suzuki share price gains 2%
Maruti Suzuki share price gained 2% intraday to Rs 4,937 on BSE today as the company announced that it plans to start production of vehicles at Manesar facility from May 12, 2020.
11.46 AM: Top losers/gainers on NSE
Kotak Bank, ONGC, Britannia, Shree Cements and Titan were among the top losers today, while Bharti Infratel, Adani Ports, IndusInd Bank, Tech Mahindra and JSW Steel were the top gainers on NSE today.
11.32 AM: Earnings today
Shares of SKF India(0.91%), Cyient (3.02%), RBL Bank(1%), Cigniti Technologies (3.32%), ICICI Securities (3.77%), Solara Active Pharma (4.82%) were rising, ahead of thier quarterly earnings today. Meanwhile, Gillette was declining 1.2%.
11. 25 AM: CLSA on various sectors
CLSA on Pharma: CLSA believes earnings momentum for Pharma will continue. Sun, Cipla, Aurobindo & Cadila are top picks (Positive)
CLSA on metals: CLSA says 2020 is turning out to be similar to the last downcycle of 2015 for metals. Hindalco & Coal India are top picks (Positive)
CLSA on OMCs: CLSA has cut FY21 EPS estimates of IOC, BPCL and Hind Petro (Negative)
11.18 AM: YES Bank erases gains, trades 8.54% higher
YES Bank shares erased earlier gains and traded 8.54% higher at Rs 28.60 on BSE. The lender reported a net profit of Rs 2,628.61 crore in fourth quarter of last fiscal. The bank posted surprise profit after accounting for income from write-down of additional tier 1 (AT1) bonds worth Rs 6,296.94 crore.
11.11 AM: Jefferies on Adani Ports
- Operationally weak result from the company,
-cuts target at Rs 315/share (Neutral)
11.08 AM: Jefferies on Gas Utilities
- Company prefers MGL & Guj Gas over IGL amongst Gas Utilities companies.
- It believes sharp rise in taxes on petrol/diesel is positive for city gas companies
11.00 AM: Jefferies on Indian Property
- All-time best residential affordability
- Initiate Buy coverage on Godrej Prop, Oberoi and Prestige
10. 56 AM: Oil at $28 per barrel
Oil gained as US inventories grew less than feared while stayed below $30 per barrel as coronavirus induced lockdown continued slashing demand for the commodity. The international oil benchmark Brent crude futures was 0.25% higher today at USD 29.79 per barrel.
10. 41 AM: Kansai Nerolac Paints share price falls 2.3% post results
Kansai Nerolac Paints share price touched an intraday low of Rs 383.9, falling 2.35% on BSE after the company announced its quarterly results.
Kansai Nerolac reported 23 % fall (YoY) in consolidated net profit to Rs 65 crore during the quarter ended March 31, 2020 as against Rs 85 crore, recorded in a year-ago period. Total income rose 11.6% (YoY) to Rs 1080 crore in the January- March quarter of the current fiscal as compared to Rs 1221 crore in the same period last financial year.
The stock trades higher than 20 day moving averages but lower than 5 day, 50 day, 100 day and 200 day moving averages.
10.34 AM: Top losers/gainers
HUL, Kotak Bank, ONGC, Bharti Airtel, PowerGrid, Titan and Nestle were among the top losers in the Sensex pack. Meanwhile HCL Tech, Sun Pharma, Axis Bank and Bajaj Finance were among the top perfomers.
10. 26 AM: Currency market closed today
Forex market will remain shut on Thursday on account of Buddha Purnima.On Wednesday, Rupee ended 13 paise higher at 75.75 per dollar as against the last closing of 75.62 per dollar.
10.20 AM: Sectors mixed today
Sectorally, gains in auto, IT, metla, pharma, media and PSU Bank were capped by losses in energy, bank, FMCG, private banking and financials. Experts said market sentiments turned cautious amid mixed signals on fading hopes of a policy support, corporate earning performances this week and a weak economic data.
10.18 AM: HCL Tech share price jumps 4.4%
HCL Tech shares opened with a gain of 3.73% today and later climbed 4.39% to the intraday high of Rs 542.4, after the company reported 22.8% rise in consolidated net profit at Rs 3,154 crore for FY20 driven by strong growth across verticals.
10.11 AM: JM Financial share price rise 6.4%
JM Financial share price opened with a gain of 5.01% today and touched an intraday high of Rs 66.9 (6.44%)on BSE after the company reported its March quarterly numbers. The company reported 1.49% rise (YoY) in consolidated net profit to Rs 130 crore during the quarter ended March 31, 2020 as against Rs 128 crore, recorded in a year-ago period. Its total income rose 6.12% (YoY) to Rs 840 crore in the January-March quarter of the current fiscal as compared to Rs 792 crore in the same period last financial year.
9. 36 AM: YES Bank share price climbs 20%
YES Bank share price climbed 15% intraday to the day's high of Rs 31.60 on BSE despite the lender posting loss for the March quarter earnings.
The lender reported standalone net loss of Rs 16,418.02 crore for the financial year ending March 31, 2020 as against a profit of Rs 1,720.27 crore at the end of financial year 2018-19. Net Interest Income (NII), declined to Rs 6,805 crore during FY20, as compared to Rs 9,809 crore reported during the previous financial year.
9.25 AM: Stocks to watch today on May 7
JM Financial, Nerolac Paints, HCL Technologies, Cyient, Gillette, Dr Reddy, Maruti among others are the top stocks to watch out for in Thursday's trading session
9.20 AM: Opening Bell
Benchmarks Sensex and Nifty opened lower on Thursday, backed by weak global cues as investors globally fretted over the weak economic data. Sensex fell 100 points lower at 31,587 and Nifty fell to 9,200, down 70 points.
9.10 AM: Pre-open session today
Sensex pre-opened 8 points lower at 31,677 and Nifty pre-opened at 9,243, down 27 points.
9.05 AM:Coronavirus toll
Globally, there are 38.22 lakh confirmed cases and 2.65 lakh deaths from the coronavirus COVID-19 outbreak. In India, countrywide coronavirus tally has climbed to 52,987, while the death toll rose to 1,785.
9.00 AM: Global cues
Globally stocks fell on back of downbeat economic data, heightening the economic fallout of the coronavirus outbreak and growing worries about falling demand that kept oil prices below $30per barrel.
SGX Nifty traded 90 points lower at 9,163 level, indicating a tepid start in domestic grounds today.
8.50 AM: Nifty technical outlook
Nifty is currently placed at a crucial level, sustenance above 9350 can take it to 9500-600 levels while fall below 9180 can take towards 9000 mark. Hence, it is better to wait for an either side break to take position.
As for the day, support is placed at around 9,100 and then at 8,900 levels, while resistance is observed at 9,450 and then at 9,550 levels.
8. 40 AM: Q4 Earnings
SKF India, HCL Technologies, Cyient, Gillette India, RBL Bank, 5paisa Capital, Cigniti Technologies, ICICI Securities, Solara Active Pharma are the companies scheduled to post their quarterly earnings today. Meanwhile, YES Bank, Adani Enterprises, JM Financial, Kansai Nerolac Paints, TCI Developers, DG Content reported their quarterly results yesterday
8. 30 AM: FII/ DII action
On a net basis, FIIs sold 494 crore and DIIs bought Rs 332 crore worth equities on Wednesday's trade.
8.20 AM: Market expectations
Benchmarks Sensex and Nifty are likely to open on a negative note on Thursday, backed by weak global cues. SGX Nifty traded 90 points lower at 9,163 level, indicating a tepid start in domestic grounds today.
8.10 AM: Rupee closing
Rupee ended 13 paise higher at 75.75 per dollar on Wednesday as against the last closing of 75.62 per dollar.
8.00AM: Wednesday's Closing bell
Benchmarks Sensex and Nifty reversed fom losses in Wednesday's trade and closed higher, tracking the bullish trend from overseas. Sensex closed 232 points higher at 31,685 and Nifty climbed 65 points to 9,270.