Share Market Update: Sensex and Nifty closed on a bearish note on Thursday, following negative cues from global equities, led by losses recorded private banking and realty scrips amid December earnings season. Asian stocks were mixed as investors weighed a spike in the number of new coronavirus cases reported in China's Hubei province due to a tweak in methodology. BSE 30-share S&P Sensex ended 106 points lower at 41,459 and NSE 50-share index Nifty50 ended 22 points lower at 12,178. Companies set to announce their earnings are Adani Transmission, BP, Lux, Nestle, Page Industries, Apollo Hospitals, Bajaj Healthcare, PC Jeweller among others.
Here's a look at the live updates of the market action on BSE and NSE today:
3: 45 PM
Sensex and Nifty closed on a bearish note on Thursday, following negative cues from global equities, led by losses recorded private banking and realty scrips amid December earnings season. Asian stocks were mixed as investors weighed a spike in the number of new coronavirus cases reported in China's Hubei province due to a tweak in methodology. BSE 30-share S&P Sensex ended 106 points lower at 41,459 and NSE 50-share index Nifty50 ended 22 points lower at 12,178.
Dr Reddy shares climbs to new 52-week
3: 20 PM
Shares of Dr Reddy Labs rose 4.3% intraday to a fresh 52 week high of Rs 3,336 on Thursday after the pharma major announced in a press release that acquired select divisions of Wockhardt's generics business in India, Nepal, Sri Lanka, Bhutan and Maldives worth Rs 1,850 crore.
Following the update, Dr Reddy Labs share price hit a new 52-week high today of Rs 3,291.5 on BSE, rising 4.3% as against the previous close of Rs 3197.55. On NSE, the Dr Reddy Labs share rose 4.4% and touched 52-week high of Rs 3,336.
Dr Reddys Lab stock price is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The large-cap stock has gained 5.65% in the last 3 days of consecutive gain. Dr Reddy Labs stock has outperformed the 'Pharmaceuticals' sector on BSE by 3.33%. The sector has risen 0.77% intraday.
YES Bank shares climb over 5% on fundraising news
11: 34 AM
The share price of YES Bank rose 5.68% intraday on Thursday's early session after the private lender announced that it has received non-binding expressions of interest ("EOis") from several prominent investors. These financial firms who have submitted 'non-binding' expressions of interest are JC Flowers & Co, Tilden Park Capital Management, OHA (UK) (part of Oak Hill Advisors) and Silver Point Capital. The private lender has also said it'll release the December quarter financial results by March 14, 2020.
The rise in price of stock was despite rating downgarde by India Ratings on lender's long-term issuer rating due to continued delay and inconclusive quantum of the anticipated equity infusion in the bank. India Ratings and Research (Ind-Ra), a part of Fitch group, on Wednesday downgraded YES Bank's long-term issuer rating to 'IND A-' from 'IND A', while maintaining it on 'Rating Watch Negative' (RWN).
Following the update, shares of YES Bank opened with a gain of 4.97% today touched an intraday high of Rs 37.2, rising 5.68% against the last close of Rs 35.20 on BSE. Currently, YES Bank share price is quoting Rs 36.95, rising 1.75 points or 4.97% apiece on BSE.
IRCTC share rises 10% post Q3 earnings
10: 45 AM
Indian Railways & Tourism Corporation Ltd (IRCTC) jumped 10% in intraday to a new lifetime high on Bombay Stock Exchange on Thursday after the ticketing arm of Indian Railways on Wednesday reported a sharp jump of 179% in its net profit at Rs 205.80 crore for the third quarter ended December 31, 2019, helped by broad-based growth across all sectors. The Miniratna company had posted net profit of Rs 73.59 crore in the same quarter last year. On the sequential basis, profit grew 106.17% from Rs 99.82 crore in September quarter of this fiscal.
The IRCTC stock price opened with a gain of 11.7% today and rose to an intraday high as well as a new lifetime high of Rs 1596.95, as against the previous day's close of Rs 1418.95. The stock has crossed its earlier 52-week high of Rs 1,562, that was touched on February 6, 2020.
10: 25 AM
Asian stocks were mixed as investors weighed a spike in the number of new coronavirus cases reported in China's Hubei province due to a tweak in methodology.
Q3 Earnings Today
10: 00 AM
Adani Transmission, Bharat Petroleum Corporation, Lux Industries, Nestle India, Page Industries, Apollo Hospitals Enterprise, Atul Auto, Bajaj Healthcare, PC Jeweller, Varroc Engineering, Vakrangee Limited, Mapro Industries, Lemon Tree Hotels, Dalmia Bharat Sugar And Industries, Deccan Cements, Deepak Fertilisers & Petrochemicals, KNR Constructions, Mazda, Victoria Mills, Uflex, Wheels India, VLS Finance, Century Plyboards, Allcargo Logistics, Bombay Burmah Trading, Atlas Cycles, Bharat Agri Fert & Realty, Suven Life Sciences among others will be releasing their quarterly results today.
Retail inflation rises to 7.59% in January
9: 45 AM
Retail inflation, calculated on the basis of Consumer Price Index (CPI), inched upwards to 7.59 per cent during January, showed data released by the National Statistics Office (NSO) on Wednesday. This is the highest rate of inflation since May 2014, when it was 8.33 per cent.
9: 20 AM
Sensex and Nifty opened on a bearish note on Thursday, following negative cues from global equities, led by losses recorded private bankingand realty scrips amid December earnings season. BSE 30-share S&P Sensex traded 100 points lower at 41,440 and NSE 50-share index Nifty50 traded 33 points lower at 12,201.
9: 10 AM
Market benchmark indices Sensex and Nifty ended on a bullish note on Wednesday, tracking stong cues from global equities, led by gains recorded FMCG scrips amid December earnings season. BSE 30-share S&P Sensex ended 349 points higher at 41,565 and NSE 50-share index Nifty50 closed 93 points higher at 12,201.