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Share Market Update: Sensex ends 371 points higher, Nifty at 9,380; IndusInd Bank, Bajaj Finance, HDFC top gainers

Sensex, Nifty Live News Today: IndusInd Bank, Axis Bank, HDFC, Tech Mahindra, ICICI Bank, Kotak Bank and SBI were among the top gainers in the Sensex pack. On the other hand, Sun Pharma, HCL Tech, Reliance Industries and Bharti Airtel were among the top laggards.

twitter-logoBusinessToday.In | April 28, 2020 | Updated 16:32 IST
Share Market Update: Sensex ends 371 points higher, Nifty at 9,380; IndusInd Bank, Bajaj Finance, HDFC top gainers
Here's a look at the updates of the market action on BSE and NSE today

Sensex, Nifty Updates: Benchmarks Sensex and Nifty closed bullish note on Tuesday, backed by heavy buying in banking and financial stocks. BSE Sensex ended 371 points higher at 32,114 and Nifty rose 98 points to 9,380.

Asian markets were trading tad lower today as oil prices continued its downward move on fears that global oil storage capacity coule be over in few weeks due to weak demand. European markets opened tad higher on Tuesday following cues from Asian counterparts, barring CAC that fell 0.17% at open. US indices closed in green on Monday as investors were optimistic over prospects of eased lockdowns and more stimulus from central banks. Two day FOMC meeting will also be starting today. Investors overseas are awaiting outcome of various global central bank meetings, in a move to reboot economy post covid-19.

Here's a look at the updates of the market action on BSE and NSE today:

3.45PM: Closing bell

Benchmarks Sensex and Nifty closed bullish note on Tuesday, backed by heavy buying in banking and financial stocks. BSE Sensex ended 371 points higher at 32,114 and Nifty rose 98 points to 9,380.

3.30 PM: Rupee ended at day's high of 76.19

Indian rupee, the local currency rose from early losses and settled at day's high of 76.19 per dollar as against the previous closing vlaue of 76.24 per US dollar.

3.20 PM: Oil prices decline

Oil price fell for the second day led by WTI on fear that global storage capacity is filling fast as demand fell. West Texas Intermediate (WTI) crude futures was down 14.7% at $10.90 a barrel, while Brent crude futures traded 4.1%, or 82 cents lower at $19.17 a barrel, after falling 6.8% on Monday.

3.10 PM: TVS Motor share price

TVS Motor share price fell 2.7% to an intraday low of Rs 291.4 on BSE after the company said it its baord has approved issuing NCDs of up to Rs 500 cr on private placement basis.

3.00 PM: Gold marginally lower today

Gold price slipped for the third consecutive day as may countries planned to ease lockdown restrictions driving investors towards riskier assets. Spot gold traded 0.7% to $1,702.09 per ounce while U.S. gold futures fell 0.3% to $1,719.20 per ounce.

2.50 PM : National Fertilizers shares drop over 2%

Share price of National Fertilizers fell over 2% intraday on BSE after the company announced that India Ratings and Research Ind-RA has downgraded its Long-Term Issuer Rating to IND AA from IND AA. The outlook is Stable, as per the filing.

2.40 PM: Syngene International share price surges 4.5%

Syngene International share price opened with a gain of 3.38% today and later climbed 4.5% to an intraday high of Rs 323.5 after the company in a press release said that it sha opened a COVID-19 RT-PCR testing centre to support Bengaluru hospitals.

2.30 PM: BSE share price rises over 1%

BSE share price rose in trade on Tuesday after the exchange announced that trading systems at the exchange have now been modified to accept commodity orders and execute trades at negative prices as well.

In a press release, the exchange said,"It is hereby informed to all Trading Members of Commodity Derivatives segment that Exchange's BOLT Plus trading system has been modified to accept orders and execute trades at negative prices."

2.20 PM: Rupee at day's high

Rupee was trading at day's high, rising to 76.22, after falling 15 paise lower at 76.40 per dollar in early trade today

2.10 PM: Indiabulls Real Estate share price declines 3.9%

Shares of Indiabulls Real Estate Limited touched an intraday low of Rs 60.55, falling 3.89% on BSE after the company announced that its senior management ofhas decided to lead the efforts on expense control by volunteering to take pay cuts upto an average of 50% for the current financial year.

As per the filing, Narendra Gehlaut, Vice-Chairman, will be drawing NIL salary.

1.55 PM: Dilip Buildcon share price rises 2.5%

Dilip Buildcon share price opened with a gain of 2.49% and touched an intraday high of Rs 245 after the company annoucned that the project 'Rehabilitation and up gradation of NH-111 (New NH-130) from Km 82.50 to Km 163.400 (Katghora to Shivnagar) to two lane with paved Shoulder in the state of Chhattisgarh under NHDP-IV on EPC Basis -section of NH-111 (NEW N.H. 130) has been completed.

The Completion Certificate has been issued by the authority on April 27, 2020 and has declared the project fit for entry into operation as on September 09, 2019, the filing added.

1.45 PM: IndusInd Bank shares climbs over 11%

IndusInd Bank shares rose over 11% in Tuesday's trade despite the company reporting weak Q4 earnings.

On a consolidated basis, the lender reported net profit of Rs 315 crore for the March quarter, down 12.2% year-on-year against Rs 360.10 crore in the same period last year. Company's profit declined 75% sequentially as compared to Rs 1,309 crore recorded in the previous quarter.

The stock price of IndusInd Bank has risen 11.14% in one week and 8.38% in one month.

IndusInd Bank share price climbs over 11% despite weak Q4 earnings

1.30 PM: Axis Bank share price top gainer ahead of results

Axis Bank share price were trading among the top gainers on Nifty by Tuesday's afternoon, as the lender will be reporting March quarterly results today. Share price of Axis Bank gained 4.96% to Rs 448.5 compared to the previous close of Rs 427.30 on BSE. The stock opened 2.74% higher at Rs 439.

Axis Bank share price rises 5% ahead of Q4 earnings

1.20 PM: Manappuram Finance share price climbs over 8%

Manappuram Finance share price rose 8.08% to an intraday high of Rs 123.7 after the compay said it plans to raise up to Rs. 500 crore

As per company's filing, its board has approved the issuance of the Private Placement of rated, secured, redeemable non-convertible debentures for Rs 100 cr with an option to retain oversubscription upto Rs 400 cr aggregating to Rs 500 cr.

1.10 PM: Global market cues

Asian markets were trading tad lower today as oil prices continued its downward move on fears that global oil storage capacity coule be over in few weeks due to weak demand.

European markets opened tad higher on Tuesday following cues from Asian counterparts, barring CAC that fell 0.17% at open.

US markets closed positively on Monday over news that countries started to ease restriction imposed due to coronavirus. Two day FOMC meeting will also be starting today. Investors overseas are awaiting outcome of various global central bank meetings, in a move to reboot economy post covid-19.

1.05 PM: Natco Pharma share price climbs 1.5%

Natco Pharma share price climbed 1.5% intraday on Tuesday after the company said it recieved USFDA's final approval for its first supplemental abbreviated new drug. The application was filed from its new drug formulations facility in JNPC SEZ, Ramky Pharma City, Visakhapatnam, as per the filing.

12.55 PM: Rupee trades 15 paise lower at 76.40

Indian rupee, the local currency was trading 15 paise lower  to 76.40 against the US dollar, amid strengthening of US dollar and volatility in domestic equity market. The dollar index on Tuesday rose 0.10% to 100.13.

Rupee vs dollar: Rupee slips 15 paise to 76.40 amid strengthening of US dollar

12.45 PM: Adani Power share price drops 6.8%

Adani Power share price fell 6.8% on Tuesday as the company reported 8.2% fall (YoY) in its total income to Rs 6,712 crore during the quarter ended March 31, 2020 as against Rs 6,722 crore, recorded in a year-ago period.

Company's loss for the January-March quarter of the current fiscal came in at Rs 1,313 crore as compared to net profit of Rs 635 crore in the same quarter last financial year.

12.30 PM: Axis Bank buys 29% stake in Max Life

Axis Bank share price opened with a gain of 2.74% and traded 4.96% higher after the company announced that it has bought 29% of the equity share capital of Max Life Insurance Company Limited.

Post the transaction, Max Life will become a 70:30 joint venture between the Company and Axis Bank after series of transactions, as per the filing.

Axis Bank to acquire 29% stake in Max Life Insurance

12.15 PM: Tata Motors shares climb 3.8%

Tata Motors stock on Tuesday touched an intraday high of Rs 78.1, rising 3.79% on BSE after the company announced that its committee plans to meet on 5 May, 2020 to decide on issuance of Rs 1,000 cr NCDs through 3 tranches.

12.00 PM: HDFC Life share price rises over 2% post Q4 earnings

HDFC Life share price gained 2.3% in the early trade on Tuesday after the company reported its March quarterly numbers.

The company reported 14.6% fall(YoY) in its consolidated net profit to Rs 311.6 crore during the quarter ended  March 31, 2020as against Rs 364.7 crore, recorded in a year-ago period.

Company's net premium income rose 2.2% (YoY) to Rs 10,476 crore in the January- March quarter of the current fiscal as compared to Rs 10,251.3 crore in the same period last financial year.

Company's solvency ratio stood at 184% as compared to 188% on a yearly basis.

11.45 AM: SEBI reduces broker fee and filing fee for issuers

Market regulator SEBI has announced yesterday that broker turnover fee on offer documents for public issue, rights issue and share buybacks will be reduced to 50% of existing fee.

The market regulator also said that filing fees on offer documents will also to be reduced to 50% of existing fee structure.

11.35 AM: Market turns bullish

Benchmarks Sensex and Nifty have turned volatile although traded on a bullish note on Tuesday, backed by heavy buying in banking and financial stocks. BSE Sensex traded 100 points higher at 31,850 and Nifty rose 30 points to 9,134.

11.30 AM: Axis Bank to acquire 30% stake in Max Life Insurance

Axis Bank share price traded higher today, ahead of results. As per media reports, the company board plans to consider approval for acquiring a 30% stake in Max Life Insurance Company.

11.25 AM: Just Dial share price rises 10%

Just Dial share price rose in early trade today after the firm said a meeting of the board of directors is scheduled on April 30, 2020 to consider the proposal for buyback of fully paid-up equity shares of the company. Share price of  Just Dial gained up to 10% to Rs 383.40 compared to the previous close of Rs 348.55 on BSE.

Just Dial stock rises 10% after firm says to consider buyback of shares

11.20 AM: Pfizer share price up 5.66%

Pfizer share price continued the bullish trend for the second session and rose 5.66% higher at Rs 274.95 on BSE as the company announced a special dividend of Rs 320 per share yesterday.

11.10 AM: Most sectors in green

FMCG, auto and pharma, all the other indices were trading in the green, with almost 2% gains in banking and financial indices.

11.00 AM: Top gainers and losers today

IndusInd Bank, Axis Bank, HDFC, Tech Mahindra, ICICI Bank, Kotak Bank and SBI were among the top gainers in the Sensex pack. On the other hand, Sun Pharma, HCL Tech, Reliance Industries and Bharti Airtel were among the top laggards.

10.50 AM: Rupee opens weaker today

Rupee opens weaker at 76.31 per US dollar on Tuesday's trade as against its previous close of 76.24 per dollar, following weakness in equity markets today.

10.45 AM: Ambuja Cements' share price climbs 4.4%

Ambuja Cements' share price rose 4.4.% to the intraday high of Rs 180 on BSE as against the previous closing value of Rs 172.30.

The company reported net profit at Rs 399 crore, down 6.5% as compared to Rs 427 crore in a year ago period.

Company's revenue for the quarter under review came in at Rs 2,827 crore, down 3.4% as compared to Rs 2,928 crore in the same quarter last financial year.

10.40 AM: Global market cues

Asian indices were trading marginally lower, tracking weakness in oil prices, that continued to crumble on concerns about oversupply and a lack of storage space. West Texas Intermediate (WTI) crude futures was down 14.7% at $10.90 a barrel, while Brent crude futures traded 4.1%, or 82 cents lower at $19.17 a barrel, after falling 6.8% on Monday. US and European indices closed green as investors were optimistic over prospects of eased lockdowns and more stimulus from central banks.

10.35 AM: Coronavirus toll

Globally, there are currently 30.65 lakh confirmed cases and 2.11 lakh deaths from the coronavirus COVID-19 outbreak. The total number of cases in India has reached 28,380, including 6,362 recoveries or and 886 deaths.

India is planning to slowly and gradually ease lockdown restrictions from May 3 when it ends. Prime Minister Narendra Modi in his video-conference meet on Monday discussed an exit strategy with states' chief ministers to help minimise risks after the lockdown is lifted.

Coronavirus India Live Updates: Delhi-Haryana border sealed; lockdown relaxed: country's COVID-19 cases-29,435

10.30 AM: Sasken Technologies' shares fall over 10% post earnings

Sasken Technologies share price opened with a loss of 3.19% and later fell 10.38% to the intraday low of Rs 399 on BSE after the company posted its March quarterly earnings. 

The company reported 24% fall (YoY) in  its total income to Rs 110 crore during the quarter ended March 31, 2020 as against Rs 146 crore, recorded in a year-ago period.

Company's net profit fell 65%(YoY) to Rs 9.44 crore in the January-March quarter of the current fiscal as compared to Rs 27.45 crore in the same period last financial year.

10.20 AM: Market erases gains

Benchmarks Sensex and Nifty have turned volatile and traded on a muted note, tracking weak Asian indices, on back of continued drop in oil prices. Earlier at opening bell, BSE Sensex traded 350 points higher at 32,100 and Nifty rose 101 points to 9,385.

10.10 AM: IndusInd Bank share price up 10% post Q4 earnings

IndusInd Bank share price rose 10% in trade today after the company posted Q4 results. Lender's Q4 FY20 consolidated net profit stood at Rs 301 crore, down 16% on a year-on-year. Bank's total provisions rose 56% to Rs 2,440 cr in the March quarter, while its net interest income rose 44.74% to Rs 3,231.19 crore, on a yearly basis.

10.00 AM: RIL share price drops over 2%

RIL share price dropped over 2% in early trade on Tuesday after the company said its board plans to consider the March quarterly results and rights issue proposal on April 30, 2020.

According to rating agency Nomura India, RIL's standalone profits may fall 11 per cent year-on-year, and 21 per cent on quarter-on-quarter, to Rs 7,610 crore, due to weak refining margins. It pegs Reliance's gross refining margin (GRM) to fall to $7.8 a barrel in Q4FY20 from $9.2 in Q3FY20.

In Q3 of FY19, RIL posted consolidated revenue of Rs 1.68 lakh crore in comparison to Rs 1.71 lakh crore in the same period last fiscal.

Reliance Industries to announce March quarter results on April 30

9.50 AM: Axis Bank share price top gainer ahead of results

Axis Bank share price were trading as top gainers on Nifty, rising 4.14% as the lender will be reporting March quarterly results today.

9.40 AM: Gold declines marginally today

Gold held above the key $1,700 per ounce level, although fell on Tuesday by plans of some countries to ease coronavirus curbs in a phased manner.

Spot gold eased 0.7% to $1,702.09 per ounce. U.S. gold futures fell 0.3% to $1,719.20 per ounce.

9.30 AM: Oil prices decline

Oil continued to crumble on concerns about oversupply and a lack of storage space. West Texas Intermediate (WTI) crude futures fellas much as 16% and was down 14.7%, or $1.88 cents, at $10.90 a barrel.

Brent crude futures fell to a low of $18.97 and later traded 4.1%, or 82 cents lower at $19.17 a barrel, after falling 6.8% on Monday.

9.20 AM: Opening Bell

Benchmarks Sensex and Nifty have pre-opened on a positive note on Tuesday, backed by strong global cues. BSE Sensex traded 350 points higher at 32,100 and Nifty rose 101 points to 9,385.

Markets globally started off this week on a positive note, ahead of a busy week for earnings and central bank meetings. Federal Reserve and the European Central Bank meet later in the week, while Bank of Japan has begun the policy meeting yesterday.

9.10 AM: Stocks to watch today on April 28

HDFC Life, IndusInd Bank, Ambuja Cement, Adani Power, Sasken Technologies are the top stocks to watch out for in Tuesday's trading session, as the companies have reported their Q4 earnings after market hours. Axis Bank will be reporting March earnings today.

Stocks in news: Reliance Industries, HDFC Life, IndusInd Bank, Axis Bank, Ambuja Cement, Adani Power and more

9.00 AM: Pre-open session

Benchmarks Sensex and Nifty have pre-opened on a positive note on Tuesday, backed by strong global cues. SGX Nifty traded 85 points higher at 9,351 level, indicating a positive start in domestic grounds today. BSE Sensex traded 350 points higher at 32,100 and Nifty rose 101 points to 9,385.

8.50 AM: Central banks meet

Markets globally started off this week on a positive note, ahead of a busy week for earnings and central bank meetings. Federal Reserve and the European Central Bank meet later in the week, while Bank of Japan has begun the policy meeting yesterday.

Bank of Japan expanded its stimulus program by pledging to buy unlimited amounts of government bonds.

8.40 AM: Global cues

Asian counterparts were trading n a higher note today, tracking trend from Wall Street that closed higher on lockdown easing hopes.

All three major U.S. stock averages advanced in US markets as traders cheered ease in lockdown news by some countries and U.S. states. On Wall Street, the Dow Jones Industrial Average rose 1.51%, the S&P 500 gained 1.47% and the Nasdaq Composite added 1.11%.

8.30 AM: DII/ FII action on Monday

On a net basis, FIIs offloaded Rs 916.42 crore while DIIs bought Rs 1,141.97 crore in equities on Monday.

8.20 AM: Rupee closing

Indian rupee, the local currency, ended higher by 21 paise at 76.24 per dollar on Monday.

8.10 AM Coronavirus toll

Globally, there are currently 30.65 lakh confirmed cases and 2.11 lakh deaths from the coronavirus COVID-19 outbreak.

The total number of cases in India has reached 28,380, including 6,362 recoveries or and 886 deaths.

8.00 AM: Market closing on Monday

While Sensex closed 415 points or 1.33% higher at 31,743, Nifty gained 127 points or 1.4% to 9,282 on Monday.

Sensex closes 415 points higher on Rs 50,000-crore liquidity facility for MFs

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