Indian benchmark indices closed lower for the second straight session on Monday, weighed down by sharp selling across oil and gas and realty stocks. The market sentiments were dented by mixed corporate earnings and rising crude oil prices.
On the sectoral front, Oil & Gas, Energy and Realty indices were among the major losers. However, IT sector continued to outperform after rupee slips against US dollar. The top gaining stocks in the IT sector were Tata Consultancy Services, Wipro, Tech Mahindra, Infosys and Mindtree.
OMCs were trading in red following spike in Oil prices (Brent Crude spiked to 5-month high of above $72/bbl) after news reports suggested that US is likely to ask all importers of Iranian oil to end their purchases or face sanctions. Aviation stocks too took the beating followed by depreciated rupee against the dollar.
TCS, Wipro, Power Grid and Infosys were among the top gainers, while PC Jewellwers, RIL, HPCL, Reliance Capital and BPCL were among top laggards.
Share Market Updates: The BSE Sensex closed at 39,645, down by 495 points, and the NSE Nifty ended at 11,594, down by 158 points.
Here's a look at live updates for the Indian share market today:
3:30 pm: Market has fallen 1.23% while volumes have increased by 13.43%. Nifty has touched an intraday low 11609.50 (-1.22%) in today's session.
3:20 pm: NSE Nifty is trading down by 158 points at 11,594 and BSE Sensex is down by 502 points at 38,637 level.
3:15 pm: Wipro, TCS, Powergrid, Grasim Ind. and Infosys were among the major gainers on NSE, while BPCL, IOC, Yes Bank, Indiabulls Housing Finance and Reliance were among the laggards on the trading platform.
3:10 pm: Shares of Adani Enterprises opened at a loss of 2.49% and slipped nearly 7% on Monday after the company announced acquisition of control of Alpha Design Technologies Private Limited by Adani Defence Systems and Technologies Limited - a wholly owned subsidiary of the Company.
2:55 pm: Shares of Private banks were trading lower in today's trading session. While 10 out of 12 stocks are declining in the Nifty Bank, all the 10 stocks traded are running negative on BSE Bankex index. Shares of YES Bank, IndusInd Bank, Axis Bank and ICICI Bank were the worst performers in the index. NSE Bank is down 1.58%and BSE Bankex is trading down by 1.80%.
2:40 pm: Rajesh Exports (5.55%), Tata Communications (1.80%), Sun TV Network (1.65%) are among the top gainers on the BSE 200 index , whereas Reliance Capital (10.58%), Dewan Hsg Fin. Corp. (10.40%), Indiabulls Housing (6.85%) are among the top losers in BSE 200 index.
2:20 pm: Shares of KPR Mill climbed 5.8% to its day's high at Rs 606, as the company announced on April 19 that the board members will consider audited financial results for the year ended March 31, 2019 and recommendation of dividend, if any.
2:15 pm: Shares of Gravita India opened with a gap up of 2.42% and rallied 4.5 % to touch an intraday high of Rs 98 on Monday as company commenced commercial production of lead from its East Africa plant. Its step down subsidiary situated in Tanzania, East Africa, has started commercial production of lead from its new plant with an annual capacity of around 3000 MTPA. Gravita Tanzania also becomes the first export oriented recycling plant in Tanzania.
2:05 pm: Shares of GVK Power and Infrastructure Ltd. rallied 7.38% to Rs 7.86 as the company has agreed to offer 49 per cent stake in GVK Airport Holdings in favour of Abu Dhabi Investment Authority (ADIA) and the National Investment and Infrastructure Fund (NIIF) for an investment in new shares in GVKAHL equating to a 49% stake.
1:45 pm: Shares of KPIT Technologies started its 1st day of trade at Rs 99 on the NSE and at Rs 100 on BSE, after listing on April 22.
The company was a result of a composite scheme of arrangement among Birlasoft (India) Limited and KPIT Technologies Limited and their respective shareholders as approved by the National Company Law Tribunal in December 2018. The engineering unit was named as KPIT Engineering Limited that later changed to KPIT Technologies.
1:30 pm: IT shares were trading with gains in Monday's trading session. Shares of Wipro, HCL Technologies, Tata Consultancy Services and Tata Elxsi were the top gainers in the index. While 8 out of 10 stocks are advancing in the Nifty IT, 29 out of 56 stocks in are in the green BSE IT index and 13 out of 29 stocks are in green for BSE Teck index.
1:20 pm: Increasing tensions between the United States and Iran that might lead to a global ban on Iranian oil exports triggered a 3 percent jump in crude prices to their highest for 2019 so far. A rally in the crude oil markets to the highest level in almost six months also supported the yellow metal (gold).
1:10 pm : The price of gold moved higher from an almost four-month low hit in the previous session. Higher crude oil prices also lent support to the move higher in today's trading session.
1:00 pm: "The government is planning to announce a rule to make ISI helmets mandatory and has introduced new BIS standards for two wheeler helmets, which were to be implemented from January 15 this year. It received an extension first up to April 15 and then till July 15. Currently there are 219 companies in India, out of which only nine have taken the required certification so far," said Rajeev Kapur, president of the Two Wheeler Helmet Manufacturers Association and MD of Steelbird Helmets.
12:45 pm: ICICI Prudential (2.34%) Tata Global Beverage (1.75%) Sun TV Network (1.72%) are among the gainers while Reliance Capital (8.67%) Dewan Hsg Fin. Corp. (8.40%) HPCL (5.59%) are among the top losers.
12: 35 pm: NSE Nifty is trading down by 97 points at 11,665 and BSE Sensex is down by 272 points at 38,868 level.
Sensex Figure on 22 Apr, 2019 12:33 PM: 38,868.00 (via @binnyva)- Sensex India (@bse_sensex) April 22, 2019
12:20 pm: BSE Oil & Gas (2.61%),BSE Energy (2.14%),BSE Realty (1.92%) are the major falling indices for the day.
12:10 pm: DCB Bank shares hit a 52-week high of Rs 211, up 4% on the BSE. DCB Bank's profit after tax rose 50 per cent to Rs 96 crore in Q4FY19 against Rs 64 crore in the corresponding January-March quarter of 2017-18. Its total income rose 15 per cent to Rs 400 crore during the quarter. The net interest income increased 14% to Rs 301 crore, while non-interest income rose 17 per cent to Rs 99 crore.
11:45 am: Tata Coffee reported 62% jump in Q4 net profit, to Rs 10.49 crore against Rs 6.46 crore in the same quarter last year. The revenue has increased 4.5% to Rs 460.52 crore versus Rs 440.43 crore, YoY.The board of directors have also recommended a dividend of Rs 1.50 per equity share at the face value of Re 1 each. The stock has touched an intraday high of Rs 95.40 (3.53%).
11:30 am: Brickwork Ratings revised rating for Reliance Capital to A+ from AA, for long-term debt program, market-linked debentures and subordinated debt of the company, which is due to extension of timeline for progress of planned disinvestments in various companies. Care Ratings have also downgraded the compnay to A from A+. The stock is among the top losers on BSE. The stock has fallen after 5 days of consecutive gain and touched an intraday low of Rs 128(5.8%).
11:10 am:Spicejet announced that it has signed MoU for codeshare partnership Emirates today, after which the stock price dropped 5.3% to day's low. The stock has fallen after 5 days of consecutive gain.
10:40 am: While all Mcap categories have fallen, Mid caps has dragged the market with Nifty Midcap100 change of 1.21%. Overall 1456 stocks have declined against 673 advancing stocks and Mcap of the entire market has fallen by 0.73%.
10:20 am: Jet Airways stock opened at a loss of 3.90% and fell over 19% to touch a new 52 week low of Rs 132 on BSE and plunged close to 23.2 % to Rs 126.65 apiece on NSE. Nasim Zaidi has submitted the resignation as non-executive non independent director and the Independent director, Rajshree Pathy has also resigned.
10:10 am: Market has fallen 0.88% while volumes have increased by 45.20%. Tata Global Beverage, L&T Technology Services, Power Grid Corporation are among the top gainers, while Jet airways, HPCL, Reliance Capital and BPCL are among top laggards.
9:50 am: RIL dropped over 2 per cent following March quarter numbers. The company reported a 9.79% jump in Q4 profit, while its revenue rose 19.4% to Rs 1.54 trillion for the quarter ended 31 March from Rs 1.29 trillion in the year earlier.
RIL has an outstanding debt of Rs 2,87,505 crore and it grew by Rs 69,000 crore in financial year 2019 because of its investments in Reliance Jio.
#ResultUpdate: RELIANCE INDUSTRIES: Better petrochem offsets poor refining performance.April 22, 2019
9:40 am:Private sector lender, HDFC Bank has reported a 20.53 per cent growth in its net profit at Rs 21,078.14 during the financial year 2018-19 as compared to Rs 17,486.75 crore in 2017-18.
HDFC Bank has reported a 22.63 per cent rise in its net profit for the March quarter of the last fiscal on a year-on-year basis. The private lender posted a net profit of Rs 5,885.12 crore during the quarter under review, as opposed to the Rs 4799.28 crore in the corresponding quarter in the previous fiscal.
The stock is up 0.16% at Rs 2,293 and lies 1.69% away from 52 week high of Rs 2,332.35.
9:30 am: Overseas investors have pumped in a net sum of Rs 11,012 crore into the Indian capital markets in April so far amid easing liquidity conditions globally.
Foreign portfolio investors (FPI) were net buyers for the previous two months as well, infusing a net Rs 5,360 crore from the capital markets (both equity and debt) in January, Rs 11,182 crore in February and Rs 45,981 crore in March 2019.
Foreign portfolio investors (FPIs) bought Rs 1,038.46 crore worth of domestic stocks on Thursday, while DIIs were net sellers to the tune of Rs 337.59 crore, data available with NSE suggested.
9:20 am: The combined market capitalisation of six of the 10 most valued Indian firms , namely swelled by Rs 98,502.47 crore last week, with IT major Tata Consultancy Services (TCS) emerging as the biggest gainer.
In the ranking of top-10 firms, RIL was at the number one position, followed by TCS, HDFC Bank, Hindustan Unilever Limited (HUL), ITC, HDFC, Infosys, SBI, Kotak Mahindra Bank and ICICI Bank.
9:15 am:Domestic benchmark indices opened on a negative note, pressured by losses in Reliance Industries and private banks. S&P BSE Sensex declined as much as 0.52 percent to 38,934 and the NSE Nifty 50 fell as much as 0.61 percent to 11,681.40. NSE Nifty IT Index was the only sectoral gainer, up 0.52 percent.
9:05 am: The Indian rupee opened 0.58 per cent lower at 69.76 against the U.S. dollar.
9:00 am:SGX Nifty on the Singapore Exchange declined by 10 pts, indicating a flat-to-negative start for the Nifty50.
8:55 am:Brent Crude spiked to 5-month high of above $72/bbl following oil prices spiked on a report that US is likely to ask all importers of Iranian oil to end their purchases or face sanctions.
Although domestic cues are positive on strong FIIs buying interest and impressive quarterly results reported by HDFC Bank, RBL Bank, DCB Bank, markets are expected to open flat on account of global cues.
Asian markets opened flat backed up by Nikkei, South Korea, and China Index trading sideways. Hong Kong and UK markets remain shut today. US markets gained half a percent on account impressive quarterly results. Dow Jones (US) was up 0.42 %, whereas the Straits Times (Singapore) was down 0.03%.
Stock markets were closed Wednesday and Friday on account of 'Mahavir Jayanti' and 'Good Friday ', respectively.
On Thursday, Indian benchmark indices, Sensex, Nifty, closed lower , snapping four-day gaining streak, on account of weak cues from Asian peers. The BSE Sensex closed at 39,140, down by 136 points, and the NSE Nifty ended at 11,752, down by 34.40 points.
RIL, Wipro, Tech Mahindra, ICICI Bank, SpiceJet, Interglobe Aviation, HDFC, HDFC Bank, were the major gainers in the indices, while Jet Airways, Infosys, TCS and Hindalco were among top laggards.
Tata Consultancy Services (TCS), Reliance Industries Limited (RIL), HDFC Bank, HUL, Kotak Mahindra Bank and ICICI Bank were the gainers, while ITC, HDFC, Infosys and SBI suffered losses in their market valuation for the week ended Thursday.