Business Today
Loading...

Share Market Update: Sensex ends 1,265 points higher, Nifty at 9,111; auto stocks top gainers

Sensex, Nifty Live News Today: Globally indices turned green as investors turned optimistic over prospects of more government stimulus and tightened lockdowns across the world to combat the virus spread.

twitter-logo BusinessToday.In        Last Updated: April 9, 2020  | 18:04 IST
Share Market Update: Sensex ends 1,265 points higher, Nifty at 9,111; auto stocks 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 4.2% higher on Thursday, led by gains in pharma, auto and FMCG stocks tracking trend from strong global cues on hopes of the COVID-19 pandemic approaching its peak. The 30-share BSE Sensex closed 1,265  points higher at 31,159 and 50-share barometer NSE Nifty ended 363 points higher at 9,111.

Globally indices turned green as investors turned optimistic over prospects of more government stimulus and tightened lockdowns across the world to combat the virus spread. Further, slowing pace of fresh COVID-19 cases has also lent some momentum to global markets.

There 15.18 lakh confirmed cases worldwide and almost 0.88 lakh deaths from the coronavirus COVID-19 outbreak. As of Thursday, the number of infected cases in India has increased to 5,916, with 506 recovered cases. The death toll from coronavirus in India has risen to 178. Wednesday recorded the biggest single day jump in both the number of coronavirus cases and deaths so far.

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

Closing bell

3: 45 PM

Benchmarks Sensex and Nifty closed 4.2% higher on Thursday, led by gains in pharma, auto and FMCG stocks tracking trend from strong global cues on hopes of the COVID-19 pandemic approaching its peak. The 30-share BSE Sensex closed 1,265  points higher at 31,159 and 50-share barometer NSE Nifty ended 363 points higher at 9,111.

Macquarie On SBI Cards

3: 40 PM

- Outperform rating maintained Price target cut to Rs 775 from Rs 1,025

-Covid-19 is a black swan event for India's credit card industry

- Discretionary spends have come to a complete halt in the near-term

- Expect FY21 NPLs at 6 percent and provisions at 13 percent No problem on funding and capital adequacy

BOBCAPS On Bajaj Finance

3: 30 PM

- Buy rating maintained Price target cut to Rs 3,000 from Rs 5,200

- Expect Covid-19 crisis to disrupt credit growth in FY21

- Lenders turn cautious and customers pare discretionary spends

- Growth may taper to 11 percent in FY21 and may normalise only by H2FY22

- Pricing power and spreads should remain stable

- Expect higher opex and delinquencies in next 12-15 months

Motilal Oswal on India VIX

3: 20 PM

India VIX moved up significantly by 302.8% in the March series from 17.76 to 71.53 levels due to ongoing Coronavirus concerns and CBOE VIX also witnessed a historical high zones. India VIX moved to its 11 years high which is likely to keep volatile swing in the market and may not give smooth ride and comfort to the traders.

HSBC On UPL

3: 10 PM

Buy rating maintained Price target cut to Rs 450 from Rs 680 Covid-19 remains a blind spot for now Disruption in FY21 may not be as grave as it appears Expect a comfortable cash flow position Current valuations attractive even on low earnings

Fuel demand falls in India

3:00 PM

India's fuel sales dropped 18% in March month. Where petrol demand fell 16.3%, diesel slipped 24%, as per the official data

Rupee ends at 76.28

2: 55 PM

Indian rupee today ended stronger at 76.28 per dollar as compared to the previous close of 76.37 per US dollar.

JSPL climbs 10%

2: 50 PM

JSPL shares climbed almost 10% to the intraday high of Rs  93.35 as company promoters released pledge on a total of 9.13 crore shares totalling to 8.95% of equity share capial on April 8, 2020.

Phillip Capital On ITC

2: 45 PM

- Upgrade to buy from neutral Price target cut to Rs 200 from Rs 215

- Underperforming for ages due to ESG norms, challenges in cigarette business and capital misallocation perception

- FMCG business showing much-needed promise of value creation

- Do not see capital misallocation

- Inexpensive consumer stocks are the best place to park money

ICICI Bank rises over 8%

2: 35 PM

ICICI Bank shares touched an intraday high of Rs 344.95, rising 8.13% on BSE after Kotak Institutional Equities maintained its 'buy' call on the lender. The research and broking firm although cut target price of the stock to Rs 490 from Rs 615 per share.

ICICI Bank stock rises 8% as KotaK Equities affirms 'Buy' call

Sectors bullish in last month

2: 20 PM

In the last one month period, pharma sector has risen 15%, followed by 3% rise in FMCG. Nifty Pharma has risen 10.87% since the beginning of 2020.

MOFL on various sectors

2: 15 PM

Auto: Long Liquidation in Tata Motors, Apollo Tyre, Ashok Leyland, Bharat Forge, Amaraja Battery, Exide Ind, Maruti, Eicher and Escorts

Cement: Long Liquidation in ACC, Ramco, Grasim and UltraTech Cement

Banks : Shorts in Indusind Bank; Long Liquidation in Federal Bank, Canara Bank, ICICI Bank, PNB, BOB, HDFC Bank and Kotak Bank

Metal: Shorts in VEDL; Long Liquidation in Jindal Steel, Hindalco, SAIL, JSW Steel and Tata Steel

Pharma: Short in Divis labs; Long Liquidation in Aurobindo Pharma, Glenmark, Lupin and Sun Pharma

IT: Short in INFY, TCS; Long Liquidation in NIIT Tech, HCL Tech, Tech Mahindra and Mindtree

FMCG: Short in Pidilite Industries, Dabur, Titan; Long Liquidation in UBL, McDowell, Bata India and Berger Paints

MOFL on Nifty's near term outlook

2: 10 PM

Motilal Oswal in its report said,"The outburst of pan-demic Coronavirus cases in India and other part of the globe had resulted into sharp sell-off in all the equity indices.' It added that,"Besides technical, the real path of action would be decided on how things pan out with respect to the Covid-19 epidemic and cool down in volatility across the Globe."

On Nifty's near term outlook the brokerage furtehr added,"Major support for Nifty is placed at 7500 and 6800 levels; while a sustainable move above its resistance of 9000-9300 zone would be a big challenge for the bulls to get the short term stability."

HSBC on Aviation

2: 05 PM

- Restrictions and a sharp drop in demand have compelled Indian carriers to cut capacity

- Government support, cost cutting, liquidity are key

- Heading for a big loss in FY21; cash remains the key

- Maintain hold rating on Interglobe Aviation; price target cut to Rs 1,015 from Rs 1,145

- Downgrade Spicejet to hold from buy; price target cut to Rs 44.5 from Rs 90

Nifty Technicals

1: 55 PM

As per Standard Chartered morning report, Nifty50 technical supports are placed at 8,560 and 8,230 while resistances are at 8,970 and 9,140 levels.

Rupee at day's low

1: 50 PM

Rupee erased early gains and extended losses, to trade at a record low of 76.53, falling 16 paise lower per US dollar.

HSBC on Voltas

1: 45 PM

- Downgrade to hold from buy

- Price target cut to Rs 545 from Rs 730

- Covid-19 and measures to contain it will have a material impact on discretionary spending and investments

- Medium-term outlook for discretionary room AC segment as well as for investment-driven projects business is weak

Morgan Stanley on Cement

1: 40 PM

- Demand disruption can outlast supply side challenges

- New capacity to keep prices under check

- See sharp decline in earnings in FY21

- Valuation multiples can test historical troughs

- Downgrade Ultratech to equalweight from overweight; price target cut to Rs 3,425 from Rs 4,600

- Upgrade Ambuja to overweight from equalweight; price target cut to Rs 186 from Rs 200

Auto sector earning outlook by Axis Capital

1: 30 PM

"Q4FY20 volumes were weak across the board on loss of ~10 days of business in March due to covid-19 led lockdown," Axis Capital said in its daily market report and added that ,"We expect q4 revenue for our auto coverage to decline by approx 30% yoy, with ancillaries faring marginally better than oems due to steady replacement demand."

Market update

1: 25 PM

Benchmarks Sensex and Nifty climbed 4% higher on Thursday, led by gains in pharma, auto and FMCG stocks tracking trend from strong global cues on hopes of the COVID-19 pandemic approaching its peak. The 30-share BSE Sensex rose 1,200 points to 31,135 and 50-share barometer NSE Nifty traded 355 points higher at 9,103.

Zydus climbs almost 8%

1: 15 PM

Zydus shares touched an intraday high of Rs 1563.35, rising 7.96% on BSE after the company recieved final approval from USFDA for Imatinib Mesylate tablets.

Nifty 's near term outlook

1:00 PM

In terms of Nifty near term outlook,  Technical & Derivatives Report by Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) stated," Barring yesterday's profit taking from higher levels, last couple of sessions have been excellent for markets across the globe. Some of the beaten down stocks rebounded quite sharply, giving some sigh of relief for trapped traders in the recent past.

The report added further, "There is possibility of extending this pull back rally towards 9000-9050. Although, index surpassed this zone due to euphoric situation; but eventually it acted as a stiff hurdle. With yesterday's roller coaster move, the daily candle indicates uncertainty and hence, the coming session would be quite crucial for our markets. On the higher side, 9000-9100 remains to be a study wall now and on the flipside, we may see weakness below 8650."

Sensex and Nifty range

12: 40 PM

Sensex and Nifty have risen 9.6% in a week, although fallen over 13% each in one month period. Since the beginning of the year, both BSE, NSE benchmarks have declined 25%, 24% respectively.

Aurobindo Pharma rises over 8%

12: 30 PM

Aurobindo Pharma touched an intraday high of Rs 475.7, rising 8.55% on BSE, after the company received USFDA approval for Fluoxetine tablets

INDIA CORONAVIRUS TRACKER: BusinessToday.In brings you a daily tracker as coronavirus cases continue to spread. Here is the state-wise data on total cases, fatalities and recoveries in one comprehensive graphic

Titan stock rises 8%

12: 15 PM

Titan Company Q4 updates:

Watches & Wearables division grew by 1% despite the significant loss of sales in the month of March.

Jewellery division Revenue declined by 5% due to lost sales in the month of March.

Eye Wear section in March led to a 20% decline in revenues for the quarter

Shares of Titan touched an intraday high of Rs 988, rising 8.12% today on BSE.

Nifty near term outlook by Geojit Financial

11: 45 AM

Yesterday's tentativeness at 9000 vicinity played out in line with our early-week warning of a bull trap. While the pull back has found support at a 38% fibo of 8722, the volatility has come at the expense of a straightforward surge. But there is not enough evidence either to force a complete abandoning of upside expectations, and we may continue to play the upsides, albeit with a modified target of 9470, and with downside risks levels redrawn to be at 8590 and 8440.

Sectors turn volatile

11: 40 AM

In terms of sector, gains in FMCG, auto, media and pharma were capped by losses in banking, IT, realty and metal stocks.

Granules India rises 4%

11: 30AM

Granules India  hit an intraday high of Rs 180, rising 4.35% on BSE after the pharma major recieved US FDA's nod for anti-headache drug, Butalbital, Acetaminophen and Caffeine Capsules USP. The capsules are used for the relief of the symptom complex of tension (or muscle contraction) headache.

Market update

11: 15 AM

Globally indices turned green as investors turned optimistic over prospects of more government stimulus and tightened lockdowns across the world to combat the virus spread. Further, slowing pace of fresh COVID-19 cases has also lent some momentum to global markets.

Rupee at 76.11 per dollar

11:00 AM

At the interbank foreign exchange the rupee opened at 76.11, registering a rise of 23 paise over its previous close.

On Wednesday, rupee had settled at 76.34 against the US dollar. Forex traders said higher opening in domestic equities supported the local unit, while concerns over coronavirus outbreak weighed on the local unit.

Rupee vs Dollar: Rupee rises 23 paise to 76.11 amid FII inflows, positive equity market

Cadila Healthcare, Ipca Labs up 8%

10 : 50 AM

Cadila Healthcare and Ipca Laboratories stocks surged in early trade today after government removed restriction on export of Hydroxychloroquine to meet the growing demand for the anti malaria drug from US and other countries to treat coronavirus patients.

Ipca Laboratories, Zydus Cadila and Wallace Pharmaceuticals are major pharma firms manufacturing Hydroxychloroquine in India.

Cadila Healthcare,Ipca Labs share price rise up to 8% on nod to export Hydroxychloroquine

Market update

10: 40 AM

Market opened at day's high on  Thursday led by gains in financial, IT and FMCG stocks following rise global equities on hopes of the COVID-19 pandemic approaching its peak.

According to experts, hopes of another financial stimulus hope before the end of the lockdown period buoyed investor sentiment in early session. Further, slowing pace of fresh COVID-19 cases has also lent some momentum to global markets, they said.

Traders said investor sentiments although remain fragile amid concerns over the impact of coronavirus outbreak on the domestic as well as global economy.

Gainers/losers

10: 30 AM

HDFC was the top gainer in the Sensex pack, surging up to 5 per cent, followed by Maruti, Bharti Airtel, Bajaj Finance, Tata Steel, Hero MotoCorp and ICICI Bank.

On the other hand, HUL was the sole laggard.

Market Update

10: 20 AM

Benchmarks Sensex and Nifty  climbed nearly 3% higher on Thursday, led by gains in financial, IT and FMCG stocks tracking trend from strong global cues on hopes of the COVID-19 pandemic approaching its peak. The 30-share BSE Sensex rose 905 points to 30,798 and 50-share barometer NSE Nifty traded 265 points higher at 8,973.

Rupee opens higher at 76.10

10: 15 AM

Rupee opened slightly higher at 76.10 per dollar on Thursday against yesterday's close of 76.37 against the US currency.

Global cues

9: 50 AM

Globally market turned positive, tracking Wall Street's gains after the US President tweets that New York is starting to flatten its curve of number of coronavirus cases.

US stocks closed higher as investors put faith in signs that the spread of the coronavirus is stabilizing in hard-hit locations.

US Futures (Dow Jones) traded at 23228, down 18 points or 0.08%.

Asian markets like South Korea, Taiwan, Hong Kong Index gained 1-2%. SGX Nifty traded at 8,885.50, up 1.54%.

Expiry day

9: 40 AM

Today is also weekly nifty and bank nifty expiry day.

Cipla climbs 15%

9: 30 AM

Cipla shares climbed 15% to Rs 589.95 on BSE after the pharma major announced that US FDA has approved the metered dose inhaler generic (Albuterol Sulfate Inhalation Aerosol 90mcg), added that it recognized the need for a drug like 'Albuterol Sulfate' during COVID19. The drug is used for treatment of acute episodes of bronchospasm or prevention of asthmatic symptoms

The entire Albuterol Sulfate HFA Inhalation Aerosolmarket had  US sales of approximately $2.8 Billion for the 12-month period ending February 2020.

Cipla stock hits 52-week high on USFDA nod for asthmatic drug

Opening Bell

9: 15 AM

Benchmarks Sensex and Nifty opened on a positive note on Thursday, amid strong rally from overseas. The 30-share BSE Sensex opened 600 points higher at 30,500 and 50-share barometer NSE Nifty started 220 points higher at 8,968.

Key data today

9: 10 AM

Feb IIP data will be releasing at 5.30 pm today. (Bloomberg expectation 3.4% vs 2% previous month).

Pre-open session

9:05 AM

In the pre-open session today, the 30-share BSE Sensex traded 500 points higher at 30,413 and 50-share barometer NSE Nifty rose 200 points higher to 8950.

Oil surges ahead of OPEC+ meet

8: 55 AM

Oil prices surged marginally in early trade ahead of a crucial meeting of oil-producing countries. Crude Oil traded 0.50% higher at 33.34 USD after rising as much as 6% overnight and. According to reports, OPEC+ is to discuss a massive cut of up to 10 mbpd in its meet Thursday. Brent crude has risen almost 56% from recent lows.

Global market cues

8: 45 AM

Wall Street jumped on hopeful signs about the coronavirus outbreak in the United States was nearing a peak. The Dow Jones Industrial Average and the S&P 500 gained 3.41%, while the Nasdaq Composite added 2.58%.

This also lifted the MSCI's index of global equities more than 2%.

Asian shares were poised to track Wall Street's gains, with Hang Seng, SGX Nifty, Strait Times and Kospi trading 1% higher today, while Nikkei and Taiwan fell marginally.

Stocks to watch today on April 9

8: 35 AM

IDBI Bank, HDFC Bank, NLC Indiaamong others are the top stocks to watch out for in Thursday's trading session

Stocks in news:IDBI Bank, HDFC Bank, NLC India and more

Market expectations

8: 30 AM

Sensex and Nifty are likely to open higher on Thursday tracking bullish global rally and strong cues from overseas. SGX Nifty traded 135 points higher at 8,867 level, indicating a positive start in domestic grounds today. On Wednesday BSE 30-share index Sensex ended 173 points lower to 29,893 and 50-share barometer NSE Nifty closed 43 points lower at 8,748.

Coronavirus toll in India

8: 20 AM

India has recorded a total of 5,274 coronavirus cases, of which 4,714 are active & 410 have been recovered. India on Wednesday recorded biggest single day jump in both the number of coronavirus cases and deaths so far. India reported 773 new cases and reported 32 deaths in 24 hours period on Wednesday.

Global toll from virus

8: 15 AM

There 15.18 lakh confirmed cases worldwide and almost 0.88 lakh deaths from the coronavirus COVID-19 outbreak. Several countries have closed their borders and urged citizens to stay back home as a part of coronavirus measures. As of Thursday, the number of infected cases in India has increased to 5,916, with 506 recovered cases.

DII/FII action on Wednesday

8: 10 AM

On a net basis, FIIs bought Rs 1,943.4 crore while DIIs net sold Rs 1,757.8 crore in equities on Wednesday.

Rupee on Wednesday

8: 05 AM

Rupee ended at record closing low of 76.37 against the US dollar on Wednesday as compared to its previous closing of 75.64 against the US dollar on Tuesday.

Last close

8: 00 AM

Sensex and Nifty gave up early gains and ended on a bearish note on Wednesday, in line with global peers. Yesterday, BSE 30-share index Sensex ended 173 points lower to 29,893 and 50-share barometer NSE Nifty closed 43 points lower at 8,748.

Share Market Update: Sensex ends 175 points lower, Nifty at 8,748; TCS, Titan, Shree Cement top losers

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close