Sensex, Nifty Updates: Equity market indices Sensex and Nifty reversed trend from 6 sessions of straight gains and closed on a negative note on Thursday, amid weakness in Asian counterparts. Sensex closed 128 points lower at 33,980 and Nifty ended 32 points lower to 10,029. Weakness in today's session was on back of negative trend in Asian markets and Moody's downgrade to various domestic sectors in the recent days. On Wednesday, Sensex closed 284 points higher at 34,109 and Nifty ended 82 points higher at 10,061.
Here's a look at the updates of the market action on BSE and NSE today
3.45 PM: Closing Bell
Equity market indices Sensex and Nifty reversed trend from 6 sessions of straight gains and closed on a negative note on Thursday, amid weakness in Asian counterparts. Sensex closed 128 points lower at 33,980 and Nifty ended 32 points lower to 10,029.
3.25 PM: JSPL share price rises over 8%
JSPL share price touched an intraday high of Rs 137.8, rising 8.04% on BSE after the company announced that it has recorded 28% YoY rise in monthly Steel sales volumes with the revival of domestic demand at 640,000 tonnes in May 2020, as compared to sales of 500,000 tonnes during the same period in the previous year.
3.18 PM: Cholamandalam Investment and Finance share price falls over 9%
Cholamandalam Investment and Finance share price fell to the intraday low of Rs 141.65, falling 9.05% on BSE after the compay reported its March quarterly results.
The company reported a 85% drop in profit at Rs 42.45 crore during the quarter ended March 31, 2020, as against Rs 298.07 crore, recorded in a year-ago period. Company's total income rose 13.82% (YoY) to Rs 2165.57 crore in the January-March quarter of the current fiscal as compared to Rs 1902.56 crore in a year-ago period.
2.54 PM: MAS Financial Services share price drops 4.85%
MAS Financial Services share price touched an intraday low of Rs 601.35, falling 4.85% on BSE after reporting Q4 earnings.
The company reported a 35% drop in profit at Rs 35.67 crore during the quarter ended March 31, 2020, as against Rs 55.66 crore, recorded in a year-ago period. Company's total income fell 5.85% (YoY) to Rs 182.55 crore in the January-March quarter of the current fiscal as compared to Rs 193.89 crore in a year-ago period.
2.34 PM: Market erases early losses
Equity market indices erased early losses, although traded lower on Thursday, amid weakness in Asian counterparts. Sensex fell 170 points lower at 33,930 and Nifty dropped 38 points lower to 10,023.
2.15 PM: DCB Bank drops over 3%
DCB Bank share price declined intraday low of Rs 66.5, falling 3.2% on BSE after the lender announced revision to its MCLR across tenors and External Benchmark Linked Rate (EBLR)
2.00 PM: DCM Shriram share price falls over 5%
DCM Shriram share price opened with a loss of -2.06% today and later touched an intraday low of Rs 282.85, faliing 5.45% on BSE, after the company reported its March quarter earnings.
The company reported a 29% drop in profit at Rs 207.38 crore during the quarter ended March 31, 2020, as against Rs 292.14 crore, recorded in a year-ago period. Company's total income rose 0.01% (YoY) to Rs 1928.77 crore in the January-March quarter of the current fiscal as compared to Rs 1928.64 crore in a year-ago period.
1. 40 PM: DLF share price trading flat ahead of Q4 earnings
Share price of DLF was trading flat ahead of the real estate player's March quarter earnings later in the day. DLF share price opened at Rs 154 compared to the previous close of Rs 155.95 on BSE. The stock hit a high of Rs 158.25 but erased gains to trade flat in afternoon trade. At 12: 29 pm, the share was trading 0.80% lower at Rs 154.85 on BSE. The large cap share has lost 1.37% in the last 2 days.
1.30 PM Ambani dominates a dizzying array of sectors
From its Silicon Valley-like campus near Mumbai, Indian billionaire Mukesh Ambani's Jio telecom carrier is emerging as a winner from changes in the way Indian consumers plug into a digital economy made more urgent by the coronavirus pandemic.
For Indian shoppers who prefer to order online, it is launching a grocery ordering service with Facebook Inc's popular WhatsApp messaging. For Bollywood fans who would prefer to avoid a crowded theater, it is readying same-day-release on the Jio platform.
1.20 PM: Powergrid share price gains over 2%
Powergrid share price gained over 2% today to Rs 168.05 despite the company announcing that Moody's Investors Service has downgraded rating of the company by one notch from baa2 to baa3, consequent to downgrading of India's sovereign rating from baa2 to baa3.
12.57 PM: Market falls further
Sensex fell 306 points lower at 33,803 and Nifty dropped 96 points lower to 9,964.
12. 30 PM: Global cues
U.S. markets closed higher as investors shrugged off concerns over civil unrest and tensions with China giving importance to ADP unemployment data which was lower than expectation.
European markets closed postively as investors gave more importance to countries returning back to business rather than unrest in U.S.. Insurance stocks led the gainers pack.
12.25 PM: Gold price fall today
Gold price internationally fell more than 2% yesterday as equities rallied on renewed optimism over countries returning to normal. In domestic grounds, Gold futures on MCX were trading at Rs 46,099, with no change in trend.
12. 12PM: Asian markets trade mixed
Asian markets were trading tepid with some indices retracing back from the highs on mixed cues of continued optimism over economies returning to normal and concerns over rising US-China tensions. Where markets in Shanghai, Hong Kong and Singapore were in the red, while those in Japan, Korea, Taiwan were trading with gains.
12.00 PM: Oil price steady today
Oil price remained steady through the session on expectation of improved demand but the move was kept under check as doubts emerged about the timing and scale of extension pact.
Brent crude futures, the international oil benchmark fell 1.51% to USD 39.19 per barrel.
11.44 AM: HDFC Life share price gains 5%
HDFC Life share price gained nearly 5% in early trade today after parent firm HDFC sold 2.6 crore shares in block deal for Rs 1,274.57 crore. Share price of HDFC Life gained 4.71% to Rs 525 against previous close of Rs 501.40 on BSE.
HDFC Life share has gained 3.8% in the last 2 days. The stock opened at Rs 520 with a gain of 3.74% today.
11.31 AM: Top losers and gainers
Indian Oil, ONGC, Titan, M&M, ONGC and HDFC were among the top laggards today, while Sun Pharma, TCS, PowerGrid, HDFC Bank, HCL Tech and ICICI Bank were the top performers today.
11.19 AM: OMC shares trade as top losers
ONGC, Indian Oil shares were trading as the top losers on NSE Nidty, falling over 1% each after the Moody's Investor Service has downgraded the long-term issuer ratings of these oil marketing companies (OMCs). The outlooks on these ratings are negative, the agency said on Tuesday.
11.03 AM: Aurobindo Pharma share price hits all-time high post Q4 earnings
Aurobindo Pharma share price hit s new 52-week high of Rs 791, rising 5% after the pharma major posted its March quarterly results on Wednesday.
Aurobindo Pharma share price opened with a gain of 3.91% today and later touched an all-time high of Rs 791, rising 5.38% on BSE as against the last closing value of Rs 750.65.
Aurobindo Pharma reported a 19.7% rise in net profit at Rs 2,831 crore in FY20 as against Rs 2,364.7 crore in FY19. The revenue from operations stood at Rs 23,098.5 crore in the fiscal year 2019-20 compared to Rs 19,563.6 crore in the fiscal year 2018-19.
10.39 AM: Nifty outlook
Expressing views on Nifty's outlook, Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking said," For Nifty, 10000 followed by 9900 would be seen as crucial supports; whereas on the flipside, it would be important to surpass 10200 in order to continue this upmove towards 10400-10600 levels."
10.26 AM: RIL share price gains 1%
The company has achieved successful closure of India's largest ever Rights Issue of Rs 53,124.20 crore. It was subscribed approximately 1.59 times, cumulating to an overall commitment of over Rs 84,000 crore.
On Thursday, RIL shares were trading 0.80% higher at Rs 1,554, almost 4.4% away from its 52 week high of Rs 1,617
10. 15 AM: Moody downgrades sectors
Moody's has downgraded long-term issuer rights of eight companies including ONGC, Infosys, TCS, OIL. The rating firm added that the quality of retail and SME loans would also deteriorate. This comes days after the global credit ratings agency downgraded India's sovereign ratings to Baa3 from Baa2.
10.02 AM: Rupee opens lower
Rupee, the local currency opened at 75.61 per dollar, as against the last closing of 75.46 per US dollar.
9.44 AM: Market erases gains
Equity market indices reversed trend after 6 days of consecutive gain and dropped on Thursday's trade, amid weakness in Asian counterparts, including Singapore's SGX Nifty. Sensex fell 116 points lower at 33,998 and Nifty dropped 22 pointe lower to 10,040. Weakness in today's session was on back of negative trend in Asian markets and Moody's downgrade to various domestic sectors in the recent days.
9.37 AM: Coronavirus toll
Total Covid 19 cases in India increase by more than 9,300 to nearly 2.17 lakh, including 3,804 new recoveries taking cured to 1.04 lakhs and deaths by 260 in last 24 hours, taking the total to 6,075.
9.30 AM: Opening bell
Benchmark Sensex and Nifty opened on a bullish note on Thursday, barring the weak cues from SGX Nifty and other Asian counterparts. Sensex was rising 130 points higher at 34,224 and Nifty gained 40 points to 10,103.
9.22 AM: Stocks in news today
Aurobindo Pharma, DCM Shriram, Powergrid, ONGC, HPCL, Indian Oil, Bharat Petroleum among others are the top stocks to watch out for in Thursday's trading session
9.10 AM: Nifty outlook
Nifty's long-term moving average (100-day SMA) is now placed around 10,358 mark. On the lower side, the index will initially find support around its medium-term moving average (50-day EMA) and then around its short-term moving average (20-day EMA), which are placed around 9,510 and 9,410 levels, respectively.
As for the day, support is placed at around 9,930 and then at 9,800 levels, while resistance is observed at 10,180 and then at 10,360 levels.
8.50AM: Q4 Earnings Today
NIIT, DLF, Jyothi Labs, PI Industries, IL&FS Transmission, LKP Securities, Chemfab Alkalis, Cosmo Films, Tourism Finance Corporation, T D Power Systems among others will announce their Q4 results today
8.40 AM: FII/ DII action
On a net basis, FIIs bought Rs 1,851 crore, while DIIs offloaded Rs 782 crore worth in equities on Wednesday.
8.30AM: Last close
On Wednesday, Sensex closed 284 points higher at 34,109 and Nifty ended 82 points higher at 10,061.