Sensex, Nifty Updates: Benchmarks Sensex and Nifty erased early gains and closed bearish by the afternoon session on Wednesday, in line with global trend. Extending decline for the second straight session, BSE Sensex closed 310 points lower at 30,379 and NSE Nifty 50 ended 68 points lower to 8,925. Sectorally, gains in realty, FMCG, IT were capped by losses in banking indices.
Where Wall Street indices ended strongly bullish in overnight trade, Asian counterparts as well as European indices were falling over 1%. SGX Nfty also fell 2.2% to 8,995 mark. Meanwhile, PM Modi announced lockdown extension till May 3rd, 2020, over the rising coronavirus cases in the nation.
Traders said investors have already factored in the chances of extension and the domestic market will continue taking cues from worldwide trend. Moreover, concerns over the rise in Covid-19 cases across the nation and worldwide kept domestic investors cautious. Earlier domestic markets rose on hopes of decisionmakers lifting some curbs to help millions hit by coronavirus lockdowns.
On Monday, Sensex closed 469 points lower at 30,690 and Nifty lost 118 points to 8,993. Sensex and Nifty have fallen 9.82% in the last one month and 26% since the start of the year. Contrary to this, the indices have gained over 11% in last week's trade. Financial markets were closed yesterday, on account of Dr Baba Saheb Ambedkar Jayanti.
According to experts, prevailing uncertain market conditions amid the rising cases of the virus and extension of the lockdown period have caused volatility and led to the downfall of broader markets on a global scale. There 19.98 lakh confirmed cases worldwide and almost 1.26 lakh deaths from the coronavirus COVID-19 outbreak. India has recorded a total of 11,487 cases, 384 deaths and 1,359 recoveries.
Here's a look at the updates of the market action on BSE and NSE today:
3.40 PM: Closing bell
Benchmarks Sensex and Nifty erased early gains and closed bearish by the afternoon session on Wednesday, in line with global trend. Extending decline for the second straight session, BSE Sensex closed 310 points lower at 30,379 and NSE Nifty 50 ended 68 points lower to 8,925. Sectorally, gains in realty, FMCG, IT were capped by losses in banking indices.
3.35 PM: Dabur shares climb over 5%
Dabur share price touched an intraday high of Rs 505.7, rising 5.41% on BSE after the company said its plants will continue to remain shut till MAy 3, 2020, except for essential items viz. hand sanitizers, hand wash, disinfectants, ayurvedic medicines, juices, coconut water, honey etc.
3.30 PM: DCB Bank rises over 5%
DCB Bank shares opened with a gain of 5.2% today and later rose 5.74% to an intraday high of Rs 87.45 on BSE after the company reported advances and declines in the Q4 FY 20. Provisionally, Deposits stood at Rs 30373 cr, rising 6.8% yearly and 2.2% quarterly. Company's Advances came to Rs 25677 cr, rising 7.6% yearly, and dropping by 0.2% on a quarterly basis. CASA stood at Rs6492 cr, falling 3.9% yearly & 6% on a quarterly basis. CASA ratio was at 21.4% compared to 23.8% yoy and 23.2% qoq.
3.20 PM: Interglobe Aviation drops over 5%
Shares of Interglobe Aviation fell over 5% in today's trade after the aircraft carrier said it has now suspended the operation of all its scheduled commercial international and domestic flights until May 3, 2020.
3: 15 PM NTPC rises over 6%
NTPC shares climbed 6.15% to an intraday high of Rs 94.1 on BSE after the company said it has decided to raise Rs. 4,374.10 crore on 16 April 2020 through private placement of unsecured non-convertible bonds
3.10 PM Tata Comm shares gain over 16%
Tata Communications share price gained 7.19% at opening bell and later rose 16.2% touched an intraday high of Rs 384.9 (16.21%) as the company board approved raising up to Rs 650 cr via NCDs
3.00 PM: ACC shares climb over 8%
ACC shares opened with a gain of 2.91% today and later touched an intraday high of Rs 1,162.75, rising 8.88% after the government allowed select construction activities
2.55 PM: Titan shares fall flat
Titan shares after rising 2.5% in early trade erased gains and fell to day's low at Rs 951 after eports that ace investor Rakesh Jhunjhunwala has cut more than 1% stake in Titan during Q4.
2.45 PM: Rupee ends at day's low
Rupee ended at day's low at 76.45 per dollar as against the previous closing value of 76.27 per US dollar.
2.35 PM: Brent crude drops over 4%
Crude oil benchamrk, Brent crude futures failed to hold minor gains and later fell 4.2% to 28.36 per barrel, as hopes of supply cut helping surge in prices were faded over the lack of demand for the comodity over lockdown times.
2.25 PM: European indices open lower
European markets opened in red, with FTSE, DAX and CAC falling 1.8% each. Where Wall Street indices ended strongly bullish in overnight trade, Asian counterparts as well as European indices were falling over 1%. SGX Nfty also fell 2.2% to 8,995 mark. According to experts, prevailing uncertain market conditions amid the rising cases of the virus and extension of the lockdown period have caused volatility and led to the downfall of broader markets on a global scale.
2.20 PM: Dalmia Bharat Sugar rises almost 5%
Shares of Dalmia Bharat Sugar opened with a gain of 4.54% today and later climbed 4.95% to an intraday high of Rs 64.7 on BSE after the company said it has started manufacturing Hand Sanitizers at its Distillery units in Jawaharpur and Nigohi, Uttar Pradesh and Kolhapur unit in Maharashtra.
2.15 PM: Market erases gains to turn red
Benchmarks Sensex and Nifty erased early gains and turned bearish by the afternoon session on Wednesday, in line with bullish global trend. Meanwhile, PM Modi announced lockdown extension till May 3rd, 2020, over the rising coronavirus cases in the nation. BSE Sensex traded 150 points lower at 30,595 and NSE Nifty 50 fell 37 points lower to 8,956. Sectorally, gains in realty, FMCG, IT were capped by losses in banking indices.
Traders said investors have already factored in the chances of extension and the domestic market will continue taking cues from worldwide trend. Moreover, concerns over the rise in Covid-19 cases across the nation and worldwide kept domestic investors cautious. Earlier domestic amrkets rose on hopes of decisionmakers lifting some curbs to help millions hit by coronavirus lockdowns
2.10 PM: Apollo Tyres rises almost 5%
Apollo Tyres share price opened with a gain of 2.5% today and later climbed 4.54% to an intraday high of Rs 89.85 on BSE after the announced board meet on April 17, 2020, to consider, inter-alia, the issue of non-convertible debentures (ncds) through private placement.
2.00 PM: M&M share price rises almost 10%
Mahindra & Mahindra shares touched an intraday high of Rs 168.45 rising 9.24% on BSE after the company announced that India Ratings and Research (Ind-Ra) has affirmed its long-term issuer rating at 'INDAAA'and kept the outlook stable.
1.50 PM: DCM Foods rises 20%
DFM Foods shares opened with a gain of 9.97% today and later rose almost 20% to an intraday high of Rs 228.05 on BSE after the company announced that it has resumed partial operations at its Greater Noida Plant/Factory (U.P)
1.40 PM: Market Update
Benchmarks Sensex and Nifty erased gains by the afternoon session on Wednesday, in line with bullish global trend. Meanwhile, PM Modi announced lockdown extension till May 3rd, 2020, over the rising coronavirus cases in the nation. BSE Sensex traded 400 points higher at 31,097 and NSE Nifty 50 climbed to 9,135, up 140 points.
1.30 PM: Future Retail climbs 5%
Future Retail shares climbed 5% to an intraday high of Rs 73.5 after CNBC reported that company's 900 outlets are operational for the grocery part of the business. Non-essentials are seeing a bigger challenge. The filing added that the company expects e-Commerce operations of non-essential products to begin post April 20, 2020.
1.25 PM: Cipla shares rise to new 52-week high
Cipla shares opened with a gain of 2.58% today and later touched a new 52-week high of Rs 614.05, rising 3.6% on BSE.
Cipla's subsidiary Startup Cipla Health, announced its partnership with Swiggy, Zomato and Dunzo for home deliveries of over-the-counter wellness products in the wake of the nationwide lockdown.
1.15 PM : Metals stocks gaining in trade
In today's bullish session, metal stocks were on a rise. Tata Steel, JSW Steel, Vedanta were among the top gainers today rising almost 4% each, while Nifty metal as rising 3.65%.
1.10 PM: Jindal Steel Power shares rise over 4% on bagging order
JSPL shares rose to an intraday high of Rs 95.7, rising 4.36% as against the previous closing price of Rs 91.70 on BSE. This was on back of company announcing that it has bagged an order worth Rs 50 cr to supply 12,000 tonnes of rail blooms to France.
1.00 PM: Fertilizers stocks surge in trade
Fertiliser stocks were surging on Wedmesday's trade after government issues guidelines allowing agricultural activities during lockdown
FACT was up 17%, while UPL gained 15%, RCF 14%, and 11% gain in Chambal Fertilizers and Deepak Fertilizers.
12.55 PM: All sectors in green
Sectorally, all indices were trading in green, with FMCG, metal rising over 3.5% each, followed by 2.5% rise in realty, IT and pharma stocks. Banking indices also rose over 1.5% each.
12.45 PM: March inflation numbers
The annual rate of inflation, based on monthly WPI, stood at 1.00% (provisional) for the month of March,2020 (over March,2019) as compared to 2.26% (provisional) for the previous month.
12.30 PM: Rupee pares most gains against dollar
Rupee pared most gains from early morning trade and traded 4 paise higher at 76.23 per US dollar as the American currency rose globally. The dollar index, which gauges the greenback's strength against the basket of six currencies was trading 0.05 per cent higher at 98.93.
Home Ministry issues guidelines on extension
The Home Ministry on Wednesday issued guidelines for lockdown 2.0 allowing certain sectors to function from April 20 in order to ease public hardship in the wake of COVID-19 outbreak. Meanwhile, the country saw a new bout of migrant crisis following PM Modi's announcement of a 19-day lockdown extension till May 3 in the wake of coronavirus outbreak.
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UPL climbs 15%
11: 45 AM
UPL was the top gainer on Nifty, rising 15% after the company said it continues its operations withits plants running to meet the challenges of providing stable and reliable service to farmers around the world and does not anticipate any significant challenges meeting customer demand.
Rupee rises 25 paise to 76.02 against US dollar
11: 30 AM
Indian Rupee, the currency benchmark opened at 76.07 per dollar at the interbank foreign exchange on Wednesday and later gained further ground, rising 25 paise higher to 76.02 against the US dollar.
11: 20 AM
MCX gold today rose to another all-time high of 46,730 and later rose 0.88% higher or 405 points higher to 46,675 per 10 gm.
Experssing his views over MCX gold rising to record highs, Anuj Gupta-DVP-Commodities & Currencies Research, Angel Broking said," Today Gold touched the life time high of 46676 on MCX June contract and spot gold is trading around $ 1720 which is 8 year high. Safe heaven demand and weakness in Dollar supports the Gold prices."
He added," Although the lockdown situation also increased the demand of investment in safe heaven assest class product. Low interest rate and global growth forecast cut down by IMF provide extra fuel to Gold prices. We are expecting this rally may continue and Gold may test 49000 to 50000 on MCX and in international market it may test $1780 to $1800 soon."
L&T climbs over 5%
L&T share price was among the top gainers on Wednesday, rising up to 5.31% to Rs 911 compared to the previous close of Rs 865 on BSE.
Larsen & Toubro (L&T) said its arm L&T Construction has won two contracts to build Regional Rapid Transit System (RRTS) infrastructure from National Capital Region Transport Corporation (NCRTC) in Uttar Pradesh. Value of these projects lies between Rs 1,000 to Rs 2,500 crore, as per the filing.
Why market is rising today
10: 50 AM
Traders have also already factored in the chances of extension and the domestic market will continue taking cues from worldwide trend.
Wall Street indices closed with major gains over Trump announcing lockdown ease at some states. European markets closed higher after some of the EU countries started looking at exit strategies as new cases and deaths were on a decline.
SGX Nifty also traded 0.50% higher at 9,251.
As per Geojit Financial technical,'Nifty is likely to head into the 9220-9470 region, having survived the day without unsettling the support region. The play from here on would be to capture leaps to 10200 with an eye on 8900. Favored view is that at least a few of such leaps or accompanying corrections could now occur overnight and volatility is likely to step up during the day.'
Markets sentiments were optimistic after the government notified Mauritius as an "eligible country", enabling its investment entities to register as Category-I foreign portfolio investors (FPIs) with lower KYC requirements.
Technical upside: 9500/10000 and downside: 7340/6400
RIL climbs almost 4%
10: 40 AM
Reliance Industries' share price climbed to the intraday high of Rs 1,235.95, rising 3.93% against the last closing price of Rs 1,189.25 on BSE. This comes after the company said it will raise Rs 9,000 crore through an NCD sale this week to refinance the existing high-cost rupee debt.
10: 35 AM
Where Wall Street indices ended strongly bullish in overnight trade, Asian counterparts were trading in red. As per traders, stock-specific action pulled the market higher. Moreover, concerns over the rise in Covid-19 cases across the nation and an extension of the lockdown till May 3, 2020 kept domestic investors cautious.
FII/ DII action on Monday
10: 30 AM
On a net basis, FIIs sold Rs 1,243.7 cr worth of equities and DIIs also offloaded Rs 1,096.9 cr in equities on Monday
Sensex pack gainers/losers
10: 20 AM
Sun Pharma, L&T, HUL, Axis Bank, UltraTech Cement, ICICI Bank among the top gainers in the Sensex pack, while ONGC, Maruti, Kotak Bank and Titan were the laggards.
Biocon shares gain over 3%
10: 15 AM
Biocon shares opened with a gain of 3.47% today and later touched an intraday high of Rs 352.65, rising 3.6% on BSE today. This comes after the company in collaboration with Mylan N.V. announced the launch of Fulphila, a biosimilar to Neulasta (pegfilgrastim) in Australia. Fulphila is approved by the Therapeutic Goods Administration for the treatment of cancer patients following chemotherapy, to decrease the duration of severe neutropenia and so reduce the incidence of infections, as manifested by febrile neutropenia.
Asian markets mostly lower ahead of key economic data and corporate earnings that will show the extent to which the coronavirus has hurt the global economy.
US stocks closed sharply higher, lifted by growing expectations that the worst of the human toll of the COVID-19 pandemic may have passed. Trump said he will make some 'important announcements' in the next few days regarding state guidelines on reopening the U.S. economy. However, US Futures (Dow Jones) traded at 23,719, down 161 points or 0.67%.
Hindalco among top gainers
9: 50 AM
Hindalco shares opened with a gain of 4.79% and later touched an intraday high of Rs 123.95, rising 8.92% on BSE after the company announced closure of $2.8 billion ( Rs 21,295 crores) worth deal to acquire Aleris by its wholly owned subsidiary Novelis Inc.
MCX gold at all time high
9: 30 AM
MCX gold today rose to another all-time high of 46,730 and later rose 0.88% higher or 405 points higher to 46,675 per 10 gm.
The panic sentiment in financial markets due to the pandemic since early 2020 has pushed the price of yellow metal. Since the mid-December lows of $1,350, gold prices have almost risen 30%, when China was slowly becoming a hotspot for coronavirus cases. With the country entering the 22nd day of a nationwide lockdown to curb the spread of the coronavirus (COVID-19) pandemic, market experts believe that the demand outlook for the precious metal looks quite strong.
9: 20 AM
Dalal Street opened higher on Wednesday, as investors took positive cues from the extension of lockdown amid the rising coronavirus cases in the country. Sensex opened 590 points higher at 31,268 and Nifty climbed to 9,150 level, up 150 points.
9: 10 AM
Stocks in Wall Street jumped over optimism of easing lockdown from the outbreak overshadowing worries of earnings reports. The Dow Jones Industrial Average rose 2.39%, the S&P 500 gained 3.06% and the Nasdaq Composite added 3.95%.
In Asian, warnings of the worst global recession since the 1930s kept investors sentiments checked even as some countries tried to re-open for business.
With investors concerned globally over the mounting Covid-19 cases, key equity indices in Asian counterparts were trading mixed today, with Nikkei, Hang Seng, SGX Nifty and Shanghai trading marginally lower, while Taiwan and Kospi rose 1%.
Pre open session today
9: 05 AM
Benchmarks Sensex and Nifty pre-opened bullish on Wednesday, amid mixed global cues. Sensex was rising 600 points higher to 31, 200 mark and Nifty climbed to 9,200 level, up 200 points in pre-open trade. In the meanwhile SGX Nifty Futures traded flat, up 4 points at 9,206 mark on Singaporean Exchange.
SGX Nifty turns flat
8: 50 AM
SGX Nifty Futures on Singaporean Exchange, that fell marginally in ear/y trade recovered to trade flat with positive bias.
8: 45 AM
Domestic sentiments were also negative with PM Narendra Modi announcing the extension of the virus-induced-lockdown till May 3rd, 2020, further damaging economic activity, in a move to curb the spread of the virus. With lockdown extended, DGCA has also announced continued suspension of all domestic and international airlines' operations till 11:59 pm of May 3, 2020. Further, all passenger train services on Indian Railways shall remain cancelled as well.
Barclays revises GDP
8: 40 AM
Barclays has revised their India GDP growth forecast further to 0.0% for CY2020 from 2.5% earlier, and to 0.8% for FY20-21 from 3.5% earlier.
Currency closing on Monday
8: 35 AM
Rupee, the local unit ended almost flat, gaining 2 paise to 76.27 per dollar
8: 30 AM
With investors concerned globally over the mounting Covid-19 cases, key equity indices in Asian counterparts were trading mixed today, with Nikkei, Hang Seng, SGX Nifty and Shanghai trading marginally lower, while Taiwan and Kospi rose 1%
SGX Nifty trades marginally lower
8: 15 AM
SGX Nifty traded 14 points lower at 9,188 level, indicating a muted start in domestic grounds today.
8: 20 AM
There 19.98 lakh confirmed cases worldwide and almost 1.26 lakh deaths from the coronavirus COVID-19 outbreak. India has recorded a total of 11,487 cases, 384 deaths and 1,359 recoveries.
Stocks to watch today on April 15
8: 10 AM
NTPC, DCB Bank, Biocon, Apollo Tyres among others are the top stocks to watch out for in Wednesday's trading session
MCX to trade in revised hours
8: 05 AM
As the press release by MCX, SEBI has decided to continue with the restricted trading hours (till 5PM) for all commodities until further notice
8: 00 AM
On Monday, Sensex closed 469 points lower at 30,690 and Nifty lost 118 points to 8,993. Sensex and Nifty have fallen 9.82% in the last one month and 26% since the start of the year. Contrary to this, the indices have gained over 11% in last week's trade.