Sensex, Nifty Updates: Market indices Sensex and Nifty fell majorly by the second hour of session and closed over 1.6% lower each, amid weak global equities. Domwstic markets were in trading on a bearish note on Monday, in line with weak Asian counterparts and oil prices amid concerns of a rise in domestic coronavirus cases and second wave of coronavirus arising out of Beijing. Sensex ended 552 points lower to 33,228, and Nifty closed 159 points lower to 9,813. Countering Wall Street, Asian counterparts traded on a bearish note today, as investors sentiments were stance over the fears of a second wave of coronavirus. With signs that the deadly disease is coming back in China and seeing a resurgence in the United States too, investor optimism about economic recovery is beginning to fade, experst suggested. Companies set to announce their earnings are Tata Motors, Ashoka Buildcon, Can Fin Home, CSB Bank, JK Tyre, Pfizer, Shalby, Shoppers Stop and Ramky Infra among others.
Here's a look at the updates of the market action on BSE and NSE today
3.45 PM: Closing
Market indices Sensex and Nifty fell majorly by the second hour of session and closed over 1.6% lower each, amid weak global equities. Domwstic markets were in trading on a bearish note on Monday, in line with weak Asian counterparts and oil prices amid concerns of a rise in domestic coronavirus cases and second wave of coronavirus arising out of Beijing. Sensex ended 552 points lower to 33,228, and Nifty closed 159 points lower to 9,813.
3. 35 PM: Cadila Healthcare share price gains over 2.5%
Cadila Healthcare share price climbed 2.58% to hit a new 52-wek high of Rs 383.65 today after the company said its sunsidiary Zydus has signed a non-exclusive licensing agreement with Gilead Sciences Inc, to manufacture and market Remdesivir.
3.27PM: Castrol India share price falls over 4% post results
Castrol India share price touched an intraday low of Rs 116.85, falling 4.14% on BSE after the company posted its Q4 results.
The company net profit stood at Rs 125.2 crore versus Rs 185 crore in the same period a year ago. Company's revenue came in at Rs 688 crore as compared to Rs 976.2 crore on a yearly basis.
3.12 PM: Astrazeneca Pharma share price
Astrazeneca Pharma share price opened with a gain of 3.57% today and later touched an intraday high of Rs 3470, rising 7.83% on BSE after the company announced that it plans to supply up to 400 million doses of an experimental COVID-19 vaccine to European Union countries. The company will begin delivering the vaccine to European countries by the end of this year under the agreement with the Inclusive Vaccine Alliance, formed this month by France, Germany, Italy and the Netherlands.
3.04 PM: RIL erases early gains, trades lower
Shares of Reliance Industries rose 1.4% at Monday's opening bell today, after L Catterton announced it will invest Rs 1,894.50 crore in exchange for a 0.39% stake in company's Jio Platforms,
The investment from L Catterton, the world's largest consumer-focused private equity firm, recorded as the tenth investment in the Reliance Industries (RIL) digital unit since the last seven weeks. Earlier, private equity firm TPG also announced that it has invested Rs 4,546.80 crore for a 0.93% stake.
However, amid weakness in general market trend, the shares of RIL gave up early gains and traded 0.59% lower at Rs 1,579 onBSE, by the later half of the session.
2.45PM: Market Update
BSE mid cap and small cap indices fell 134 and 10 points respectively in afternoon trade. All 19 BSE sectoral indices were trading in the red. Banking stocks led the losses with BSE bankex falling 878 points to 22,620. BSE consumer durables index too fell 366 points to 20,079.
Bank Nifty too plunged 765 points or 3.71% to 19,889. Market breadth was negative with 1084 stocks rising against 1204 falling on BSE. 154 stocks were unchanged.
2.40 PM: WPI inflation contracts 3.21% in May
The annual rate of inflation based on monthly wholesale price index (WPI) contracted 3.21 per cent for May, 2020 as compared to 2.79 per cent during the corresponding month of the previous year. Fuel and power have the biggest contribution in bringing WPI down in May, the official data released on Monday showed. The WPI data has been released by the government after suspending it for a month. The figure stood at 1 per cent in March, the last month whose headline figure is available. "Due to limited information available for the month of April 2020, the provisional figures of May-2020 are compared with final figures of March 2020," Department of Promotion of Industry and Internal Trade (DPIIT) said.
2.30 PM: Market Update
All 30 Sensex stocks except M&M were trading in the red. M&M share gained 0.71% at 12:00 pm. IndusInd Bank, Axis Bank and ICICI Bank were the top Sensex losers falling up to 6.25%.
2. 10 PM: JM Financial Limited raises Rs 770 crore through QIP issue
JM Financial Limited has announced the successful closure of its Qualified Institutions Placement (QIP). The company has issued and allotted 11 crore equity shares of the face value of Re.1 each to qualified institutional buyers at an issue price of Rs 70 each (including a securities premium of Rs 69 per equity share), aggregating to Rs 770 crore.
1. 42 PM: Gold outlook
Expressing vies on Gold's near term outlook, Hareesh V, Head Commodity Research at Geojit Financial Services said,"Gold's safe haven demand remains on the higher side due to fears of a second wave of coronavirus spread in China and a weaker U.S dollar. Meanwhile, hopes of recuperating global economic sentiments as many countries eased lockdown restrictions likely to limit major gains in the commodity.
On its technical outlook (London spot), he added," Buying momentum is likely to continue as long as prices stay above $1710. However, strong resistances are seen at $1740 followed by $1780 levels. The immediate downside reversal point is $1645."
1. 30 PM: Tata Motors Q4 results today
Tata Motors is scheduled to announce the March quarter results on Monday and brokerages expect the company to post over Rs 2,600 crore loss. Sales may see a substantial negative impact due to the coronavirus crisis and weak performance of Jaguar Land Rover (JLR), the analysts said. Analysts at Kotak Securities expect the loss at Rs 2,667 crore for the quarter. The consolidated revenue is likely to fall 28.5 per cent on-year to Rs 61,803 crore, the domestic brokerage also said.
1.25PM: Aarti Industries share price drops over 7%
Aarti Industries share price touched an intraday low of Rs 850.95, falling 7.32% on BSE today after the company announced that it has lost a high value contract as customer opts for sourcing API rather than manufacturing it.
1.12 PM: Nifty outlook
Technical indicators suggest that markets may see further consolidation and Nifty index could range between 9,600-10,300. Where Selling zone of the index lies around 10050 - 10100, its buying zone trades around 9850 - 9750.
12. 59 PM: SBI Life offer for sale to open today
Expressing vies on SBI Life offer for sale that opens and closes today, Angel Broking in its report said," SBI Life, with its strong brand name and wide distribution network, is one of the best plays for Indian Life Insurance industry. Further, historically, insurance products have seen growth post pandemic scenario."
It added," At the cut off rate Rs 742.6, the offer for sale is offered at 2.7x its Embedded Value of Rs 27,640 crore. We believe SBI Life will continue to gain market share considering its bancassurance strength and operational efficiency. Hence, we recommended investors to "SUBSCRIBE" to the issue with long term perspective."
12. 44 PM: Saudi Aramco to reduce volume of July-loading crude
World's largest oil exporter Saudi Aramco has reduced the volume of July-loading crude that it will supply to at least five buyers in Asia, seven sources said on Monday. The cuts were mainly for medium and heavy grades and were seen at refineries in countries such as China, the sources with knowledge of the matter said.
12. 34 PM: Oil falls today
International oil benchmark Brent crude futures fell 2.01 per cent to USD 37.95 per barrel.
12. 15 PM: Market capitalisation on BSE falls to Rs 132.24 lakh crore
Indian markets started first trading session of this week on a weak note with Sensex tumbling 783 points and Nifty losing 225 points in early trade today. That led to a fall in investor wealth by Rs 1.76 lakh crore. Market capitalisation on BSE fell to Rs 132.24 lakh crore compared to Rs 134 lakh crore on June 12. Sensex and Nifty followed their Asian counterparts which were hit by resurgence of coronavirus cases in China and Wall Street posting its worst week in nearly three months.
12.00 PM: Rupee slips 13 paise to 75.97 per dollar
The Indian rupee depreciated 13 paise to 75.97 against the US dollar on Monday amid weak domestic equities and sustained foreign fund outflows that weighed on investor sentiments.
Fresh cases of COVID-19 globally further waned off risk appetite.
At the interbank forex market, the rupee opened weak at 75.93, down 13 paise over its last close of 75.84 against the US dollar on Friday.
11.46 AM: Eicher Motor share price gains over 3%
Eicher Motors share price rose in early trade today despite the Royal Enfield maker posting a 44.15 per cent year-on-year fall in net profit for the quarter ended March 2020. Eicher Motors share price gained 3.01% to touch an intraday high of Rs 17,367 on BSE. The share is trading higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.
11.34 AM: Coronavirus toll
India saw a jump of over 11,000 cases for the third consecutive day on Monday, taking the total number of infections to over 3.32 lakh, while the death toll rose to 9,520 with 325 more fatalities, the Health Ministry said.
Globally, the number of cases linked to the disease has crossed 79.12 lakh and the death toll has topped 4.33 lakh.
11. 27 AM: Market update
Market indices Sensex and Nifty fell majorly by the second hour of session and dropped over 2% each, amid weak global equities. Domwstic markets were in trading on a bearish note on Monday, in line with weak Asian counterparts and oil prices amid concerns of a rise in domestic coronavirus cases and second wave of coronavirus arising out of Beijing. Sensex fell 738 points lower to 33,042, and Nifty fell 203 points lower to 9,769.
11.19 AM: Top losers and gainers
IndusInd Bank, followed by Tata Steel, Bajaj Finance, ICICI Bank, Axis Bank, NTPC, SBI, HDFC Bank and SBI were among the top laggards in the Sensex pack. On the other hand, Sun Pharma, Infosys, Nestle India and Asian Paints were among the top gainers.
11.00 AM: Earnings Today
Tata Motors, Ashoka Buildcon, Can Fin Home, CSB Bank, JK Tyre, Pfizer, Shalby, Shoppers Stop and Ramky Infra among others are the companies that will announce Q4 results today.
10. 45 AM: Reliance Industries' partially paid rights share debuts at Rs 690
Reliance's partially paid rights issue Rs 690 per share in today's session on NSE, as against the base price of Rs 646. The stock hit an intraday high of Rs 710.65 and low of Rs 671.55. On the BSE, it was trading at Rs 684.
On June 11, the allotment of partly paid-up shares to the demat accounts of the shareholders was completed by RIL. "Effective from Monday, June 15, 2020, the new securities of Reliance Industries Ltd (Scrip Code: 890147) shall be listed and permitted to trade on the Exchange in the list of 'A' Group of Securities," BSE said. The part right shares of Reliance Industries were listed on the stock markets under the name of RELIANCEPP, with an ISIN number of IN9002A01024.
10. 30 AM: Rupee falls past 76 per dollar
Rupee, the Indian rupee, fell 21 paise at 76.05 per dollar as against the last close of 75.84 per dollar
10. 15 AM: BHEL stock price declines over 9% porst results
BHEL stock price opened with a loss of 7.63% today and later fell to an intraday low of Rs 28.45, falling 9.54% on BSE after the firm announced its Q4 results.
The company on Saturday reported a consolidated net loss of Rs 1,468.35 crore for FY20 as against a net profit of Rs 1,002.42 crore in FY19. Total income decreased to Rs 22,054.31 crore from Rs 31,102.90 crore in the previous fiscal, BHEL said in an exchange filing on Saturday.
10.10 AM:DLF share price falls over 2%
DLF share price touched an intraday low of Rs 151, falling 2.01% on BSE after the company announced waiving up to 100% of base rent for tenants amid coronavirus crisis. While the rent will be as per billed terms for March until lockdown, zero MG rent has been proposed from start of lockdown until June 15, 2020.
10.00 AM: Market Update
Market indices Sensex and Nifty traded on a bearish note on Monday, backed by weak Asian counterparts and oil prices amid concerns of second wave of coronavirus arising out of Beijing. Sensex fell 361 points lower to 33,420, and Nifty fell 110 points lower to 9,826.
9.45 AM: Wall Street ended higher
Stocks rose broadly on Wall Street on Friday, following a drastic drop in prior session. The benchmark indices after posting its worst week in nearly three months headed for a weekly loss following three weeks of solid gains.
The rebound for stocks is a reversal for the market, which sold off for three days in a row as a rise in COVID-19 cases in the U.S. and a discouraging economic outlook from the Federal Reserve dashed investor optimism for a quick economic recover as states lift stay-at-home orders and businesses reopen.
9. 35 AM: Asian equities fall amid surge of COVID-19 cases in Beijing
Asian shares were falling on Monday, in line with oil prices as fears of a second wave of coronavirus infections in Beijing kept investors cautious and kept the demand for safe-havens high. Meanwhile, underwhelming data from China further weighed on investors' sentiment.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3% with Australian shares off 0.1% and South Korea easing 0.3%. Japan's Nikkei faltered 0.7%. Chinese shares opened in the red with the blue-chip index down 0.1%.
9. 16 AM: Opening bell
Market indices Sensex and Nifty opened lower on Monday, backed by weak Asian counterparts and oil prices amid concerns of second wave of coronavirus arising out of Beijing. Sensex fell 220 points lower to 33,458, and Nifty fell 53 points lower to 9,919. SGX Nifty also traded 35 points lower, indicating negative trend in domestic grounds today. Markets globally traded on a bearish note today, as investors sentiments were stance over the fears of a second wave of coronavirus.
9.05 AM: Stocks to watch today on June 15
Hindalco Industries, Dr Reddys, Lupin, PNB Housing, BHEL, UTI AMC, Eicher Motors, RIL, MCX among others are the top stocks to watch out for in Monday's trading session
8. 50 AM: Earnings today
Companies set to announce their earnings are Tata Motors, Ashoka Buildcon, Can Fin Home, CSB Bank, JK Tyre, Pfizer, Shalby, Shoppers Stop and Ramky Infra among others.
8.40 AM: Market Expectations
Market indices Sensex and Nifty are likely to open lower on Monday, backed by weak Asian counterparts.SGX Nifty also traded 35 points lower, indicating negative trend in domestic grounds today. Markets globally traded on a bearish note today, as investors sentiments were stance over the fears of a second wave of coronavirus.
8.30 AM: Coronavirus Toll
India saw a record single-day spike of 11,929 coronavirus cases, taking the total to 3.21 lakh cases, including 1.63 lakh cured cases and 9,195 deaths.
8.20 AM: Rupee Closing
On the currency front, Rupee ended lower at 75.84 per dollar as compared to its last close of 75.79 against the US dollar on Thursday.
8.10 AM: FII/ DII action
On a net basis, FIIs offloaded Rs 1,311 crore, while DIIs bought Rs 1,945 crore worth in equities on Friday
8.00 AM: Closing bell
On Friday, BSE Sensex ended 242 points higher at 33,780 and NSE Nifty closed 70 points higher at 9,972.