Share Market Update: Market benchmarks Sensex and Nifty turned bearish, following tepid cues from overseas markets and closed 0.35% lower on Thursday. BSE 30-share S&P Sensex ended 152 points lower at 41,170 and NSE 50-share index Nifty50 closed 45 points lower at 12,080. In terms of sectors, gains in metal, PSU banking and realty stocks were capped by losses in IT, media and pharma stocks. Asian Paints, Hindustan Unilever, Indian Oil, Cipla and Nestle were among the top losers today. On the other hand, IndusInd Bank, Tata Steel, Zee Entertainment, YES Bank and ONGC were the top gainers of today' closing session.Bourses in Shanghai and Tokyo were trading on a positive note, while those in Seoul and Hong Kong slipped in the red. Concerns over the economic impact of the coronavirus epidemic in China on world economy kept investors on edge, experts said. Yesterday, market benchmark indices recovered from four sessions of straight fall and ended at day's high. BSE 30-share S&P Sensex ended 428 points higher at 41,323 and NSE 50-share index Nifty50 closed 137 points higher at 12,130.
Here's a look at the live updates of the market action on BSE and NSE today:
3: 50 PM
Market benchmarks Sensex and Nifty turned bearish, following tepid cues from overseas markets and closed 0.35% lower on Thursday. BSE 30-share S&P Sensex ended 152 points lower at 41,170 and NSE 50-share index Nifty50 closed 45 points lower at 12,080. In terms of sectors, gains in metal, PSU banking and realty stocks were capped by losses in IT, media and pharma stocks. Asian Paints, Hindustan Unilever, Indian Oil, Cipla and Nestle were among the top losers today. On the other hand, IndusInd Bank, Tata Steel, Zee Entertainment, YES Bank and ONGC were the top gainers of today' closing session.
IndusInd Bank share price rises over 5%
3: 35 PM
IndusInd Bank share price rose in early trade and was the top gainer on Sensex and Nifty today. Share price of IndusInd Bank gained up to 5.49% to Rs 1,203.65 on Sensex. On NSE, IndusInd Bank share price climbed up to 5.31% to Rs 1,203 against previous close of Rs 1,142. IndusInd Bank share has gained after six consecutive days of fall.
However, the stock has lost 21% since the beginning of this year and fallen 20% during the last one year. 3.34 lakh shares of the bank changed hands amounting to turnover of Rs 39.70 crore on BSE. Market capitalisation of the firm rose to Rs 81,860 crore.
3: 25 PM
Extending losses by the second half of Thursday's trading session, market benchmarks Sensex and Nifty turned bearish, following tepid cues from overseas markets and foreign fund outflows. BSE 30-share S&P Sensex traded 155 points lower at 41,167 and NSE 50-share index Nifty50 traded 45 points lower at 12,080. In terms of sectors, gains in metal, PSU banking and realty stocks were capped by losses in IT, media and pharma stocks.
DHFL hits 5% uppper circuit
The share price of debt-ridden mortgage lender Dewan Housing Finance Corporation Ltd (DHFL), witnessed bullish momentum and rose to hit 5% upper circuit band on Thursday, after the lender reported a profit during the quarter ended December 2019.
DHFL share price rose nearly 5% to Rs 11.39 in early trade compared to the previous close of Rs 10.85 on BSE. The market capitalisation of the housing finance stock currently stands at Rs 357.44 crore.
The housing finance company which has been hit by a liquidity crunch reported a standalone net profit of Rs 934.35 crore in the third quarter of fiscal 2020 as against a loss of Rs 6,705.35 crore in the same period last year, helped by a tax adjustment.
Company's total revenue from operations in Q3FY20 came in at Rs 2,431.83 crore as against 3,326 crore in Q3FY19, while its total expenses stood at Rs 2,604.70 crore compared to Rs 2,860 crore in a year-ago period.
Jet Airways rises 5%
1: 33 PM
Share price of Jet Airways has risen 10% in te last 2 days of trade, after the grounded airline said that the Creditors (CoC) of the company has decided to extend the deadline for submission of bids to March 10, 2020.
Max Financial share price rises over 15%
1: 30 PM
Max Financial Services share price rose in early trade today amid reports that private sector lender Axis Bank was in talks to buy 20% stake in Max Life Insurance through fresh issue of equity shares. Axis Bank is likely to infuse more than Rs 2,000 crore into the insurer. The money will be utilised toward funding of Max Life's expansion plan. Max Financial is the holding company of Max Life Insurance.
Share price of Max Financial Services rose up to 15.71% to Rs 597.60 compared to the previous close of Rs 516.45 on BSE. Max Financial Services stock has gained 22% in last four days.
SBI Cards IPO to open bwtween March 2-5
1: 20 PM
The initial public offer (IPO) of SBI Cards and Payment Services , the credit card unit of the country's largest lender SBI, will open on March 2, according to its draft red herring prospectus (DRHP). Bidding process for the IPO will close on March 5. The firm plans to issue fresh shares worth Rs 500 crore and offer up to 13.05 billion shares for sale.
Expert on Corona Virus
1: 00 PM
Indian economy will have far reaching implications of Corona virus as China is India's largest import partner and accounts for 45% of electronics, 40% chemicals, 33% machinery and 65-70% API's and 90% of mobile components. CII estimates that shipping, pharmaceuticals, automobiles, mobiles, electronics, textiles among others could be impacted due to prolonged impact, Prabhudas Lilladher said in its report today.
IRCTC hits another lifetime high
11: 00 AM
Share price of Indian Railway Catering and Tourism Corporation (IRCTC) hit another new 52-week and an all-time high in early trade today. The stock clocked 23 new intraday highs out of its 92 trading sessions since listing. The stock price of public sector behemoth is slowly but steadily approaching the key Rs 2,000 mark
On October 14, 2019, IRCTC share price was listed on BSE and NSE. On Thursday, IRCTC's 52-week high of Rs 1,939.80 is almost 506% higher from its issue price of Rs 320 and 201% higher from its listing price of Rs 644.
The Indian Railways stock which closed at Rs 933.45 on December 31, 2019, rallied to Rs 1,939.80, rising 107% year-to-date. Stock price of IRCTC has rallied 91% in the last one month and risen 20% in a week.
Metal scrips trading lower today
10: 45 AM
In the broader bullish market, Nifty Metal index was trading lower by 7 points or 0.30%. Among stocks, National Aluminium fell the most, down 1.8% followed by Hinalco and Caol India that dropped 0.80% each, Welcorp, JSW Steel and SAIL that declined 0.70%, 0.60% and 0.40%, respectively.
Rupee trades weak at 71.80 per dollar
10: 40 AM
The Indian rupee declined by 26 paise to 71.80 against the US dollar in opening trade on Thursday amid muted opening in domestic equities and rising crude oil prices, foreign fund outflows amid coronavirus outbreak. The rupee opened weak at 71.75 at the interbank forex market and then fell further to 71.80, down 26 paise over its last close. The rupee had settled at 71.54 against the US dollar on Tuesday.
Vodafone shares top gainer today
10: 35 AM
Vodafone Idea share price was trading as the top gainer on BSE and NSE in early trade, rising almost 19%, following reports DoT officials have said there was no plan for encashing bank guarantee of telcos for now.
10: 30 AM
Equity benchmark indices BSE Sensex and NSE Nifty recovered from early losses to trade flat with positie bias by the first hour of session on Thursday. BSE 30-share S&P Sensex traded 10 points higher at 41,336 and NSE 50-share index Nifty50 traded 6 points higher at 12,132.
Coronavirus death toll
10: 15 AM
Coronavirus death toll climbed to 2,118 with the death of 114 more people. However, new confirmed cases declined to 394, registering the biggest drop since December when the first case was reported in Wuhan city.
Global Market Update
10 :00 AM
US stocks closed higher after China launched fresh measures to support local businesses that are struggling because of the coronavirus outbreak. The Dow Jones Industrial Average rose 115.84 points, or 0.4%, to 29,348.03, the S&P 500 gained 15.86 points, or 0.47%, to 3,386.15 and the Nasdaq Composite added 84.44 points, or 0.87%, to 9,817.18.
Asian stocks extended gains following the positive cues from Wall Street amid easing fears about the coronavirus outbreak and People's Bank of China cuts its loan prime rate to support its economy. Although later, bourses in Shanghai and Tokyo were traded positive, while those in Seoul and Hong Kong slipped in the red. SGX Nifty traded down 39 points at 12,107. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.01%. Australian shares were up 0.14%, while Japan's Nikkei stock index rose 0.61%.
FII/ DII action on Wednesday
9: 40 AM
Meanwhile, on a net basis, foreign institutional investors sold equities worth Rs 190.66 crore, while domestic institutional investors bought shares worth Rs 590.12 crore on Wednesday, data available with stock exchanges showed.
Q3 Earnings Today
9: 30 AM
Ambuja Cements, Security and Intelligence Services, JB Chemicals & Pharmaceuticals, Redington, BF Investment, Citizen Infoline, Trident, A2Z Infra Engineering and Amtek Auto are the listed companies that are scheduled to release their October-December quarterly earnings today.
Market benchmarks Sensex and Nifty opened on a cautious note on Thursday tracking tepid cues from global markets and foreign fund outflow. BSE 30-share S&P Sensex traded 50 points lower at 41,272 and NSE 50-share index Nifty50 traded 18 points lower at 12,100. In terms of sectors, gains in meadia, pharma and realty stocks were capped by losses in FMCG, metal, PSU banking and financials.
Stocks to watch today on February 20
Sterlite Tech, Asian Paints, GAIL, Ambuja Cements, JB Chemicals & Pharmaceuticals among others are the top stocks to watch out for in Thurday's trading session
8: 45 AM
Market benchmark indices Sensex and Nifty recovered from four sessions of straight fall and ended at day's high on Wednesday, tracking overseas trend, amid heavy buying in metal, pharma and realty scrips. BSE 30-share S&P Sensex ended 428 points higher at 41,323 and NSE 50-share index Nifty50 closed 137 points higher at 12,130. Sensex made a high of 41,357, while Nifty touched 12,134 in trade today. In terms of sectors, all the indices currently trade in the green, with pharma index ending at 2.3% gain, followed by media that closed almost 2% higher.