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Share Market Update: Sensex ends 81 points lower, Nifty at 9,239; ICICI Bank, Dr Reddy, BPCL, HDFC top losers

Sensex, Nifty Live News Today: Market experts said markets sentiments tunred cautious, with Bank Nifty turning negative following reports that FM's meet with Public Sector Banks was rescheuled to later this week.

twitter-logoBusinessToday.In | May 11, 2020 | Updated 16:27 IST
Share Market Update: Sensex ends 81 points lower, Nifty at 9,239; ICICI Bank, Dr Reddy, BPCL, HDFC top losers
Here's a look at the updates of the market action on BSE and NSE today

Sensex, Nifty Updates: Benchmark Sensex and Nifty erased early gains by the last hour of trade on Monday, on account of mixed cues from overseas and closed lower. BSE Sensex closed 81 points lower at 31,561 and Nifty ended 12 points lower to 9,239. This was backed by weak trend in European and Asian counteparts, that fell on to red territory during the later session. Market experts said markets sentiments tunred cautious, with Bank Nifty turning negative following reports that FM's meet with Public Sector Banks was rescheuled to later this week. Godrej Agrovet, Motilal Oswal Financial Services, Sonata Software among others will announce their Q3 results today.

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

3.45 PM: Closing Bell

Benchmark Sensex and Nifty erased early gains by the last hour of trade on Monday, on account of mixed cues from overseas. BSE Sensex closed 81 points lower at 31,561 and Nifty ended 12 points lower to 9,239.

3. 30 PM: Mahindra Holidays' share prcie locks 20% upper circuit after results

Mahindra Holidays share price climbed 20% intraday to Rs 150.90 on BSE after the company reported its March quarterly numbers.

Company's consolidated profit after tax  came in at Rs 38.2 crore for the quarter ended 31 st March, 2020 as compared to Rs 52.3 crore for the same period last year. Company's revenue stood at Rs 631.4 crore as against Rs 656.6 crore on a yearly basis.

3. 28 Rupee ends stronger today

Rupee the local unit, ended slightly stronger today at 75.74 per dollar as compared to last close of 75.75 against the dollar.

3.21 PM: Market Update

Benchmark Sensex and Nifty erased early gains by the last hour of tarde on Monday, on account of mixed cues from overseas. BSE Sensex fell 80 points lower at 31,536 and Nifty climbed to 9,325, fell 18 points lower to 9,233. This was backed by weak trend in European and Asian counteparts, that fell on to red territory during the later session.

3. 13 PM: Wockhardt share price rises 2.8% post results

Wockhardt share price opened with a gain of 2.02% today and latr climbed 2.85% to the intraday high of Rs 635 on BSE, after the company resported its March quarterly numbers.

The company reported consolidated net profit of Rs 48 crore during the quarter ended March 31, 2020 as against loss of Rs 14  crore, recorded in a year-ago period. Total income fell 20% (YoY) to Rs 687 crore in the January-March quarter of the current fiscal as compared to Rs 861 crore in the same period last financial year.

2. 54 PM: Top gainers and losers

Reliance Industries, UltraTech Cement, Maruti, Bajaj Auto, IndusInd Bank and ITC were among the top gainers on Sensex pack. Meanwhile, Nestle India and ICICI Bank were among the top losers.

2.47 PM: ICICI Bank share price falls over 5%

ICICI Bank share price touched an intraday low of Rs 319.75, falling 5.33% on BSE after the company said it has cut retail term deposit rates by 5-50 bps.

2.36 PM: Hero MotoCorp shares gain 8.76%

Hero MotoCorp share price opened with a gain of 2.48% today and later gained 8.76% to an intraday high of Rs 2134.25 on BSE after the company announced opening of more than 1,500 retail outlets. The filing added that company has sold 10,000 units of motorcycles and scooters since the reopening.

2. 19 PM: Auto stocks top gainers today

Auto stocks were rising in trade today, continuing rally from last week, as many companies repoen matufaturing facilities across the country. Tata Motors, Maruti, Hero MotoCorp were among the top gainers on Nifty today, each rising over 7%.

2.15 PM: Global markets turn negative

After China, South Korea has turned negative. Meanwhile, in Europe, Dax has also turned to negative territory after CAC index.

2.00 PM: Global cues

Besides Shanghai, bourses in Asia were trading with gains, while European markets were mixed with CAC turning negative later in the session. Rising number of coronacirus cases in the country despite the lockdown also kept markets timid.

1. 43 PM: European market opens higher

European indices traded with gains in the 1st hour of trade, with CAC rising 0.19%, DAX gaining 0.52% and FTSE rising 0.83%.

1. 20 PM: Godrej Properties share price rises 2.5% post Q4 result

Godrej Properties share price opened with a gain of 2.02% today and latr climbed 2.85% to the intraday high of Rs 635 on BSE, after the company resported its March quarterly numbers.

The company reported 35% fall (YoY) in consolidated net profit to Rs 101 crore during the quarter ended March 31, 2020 as against Rs 156 crore, recorded in a year-ago period. Total income rose 11% (YoY) to Rs 1,163 crore in the January-March quarter of the current fiscal as compared to Rs 1,055 crore in the same period last financial year.

1.11 PM: Coronavirus Toll

Globally, there are 41.80 lakh confirmed cases and 2.8 lakh deaths from the coronavirus COVID-19 outbreak.

Meanwhile, India registered a record jump of 4,213 COVID-19 cases in 24 hours, pushing the country's tally to 67,152 on Monday and the death toll due to the disease rose to 2,206 with 97 fresh fatalities, according to the Union health ministry

Coronavirus Live Blog: Maharashtra COVID-19 count crosses 22,000; Gujarat past 8,000 mark

1.03 PM: Rupee slips 16 paise to 75.70

Indian rupee, local unit opened at 75.55 and lost further ground to trade at 75.70 against the dollar, down 16 paise as compared to its previous close of 75.54 against the US dollar on Friday.

Rupee vs Dollar: Rupee slips 16 paise to 75.70 amid rising coronavirus cases

12.50 PM: Sovereign Gold Bond Series II subscription from today

The issue price of the Series II of the sovereign gold bond has been fixed at Rs 4,590 per gram.  "The nominal value of the bond based on the simple average closing price (published by the India Bullion and Jewellers Association Ltd) for gold of 999 purity of the last three business days of the week preceding the subscription period, works out to Rs 4,590 per gram of gold," RBI said in the statement earlier.

As per the RBI's directive, buyers applying online and making payment through digital mode will be provided with a Rs 50 discount.

Sovereign Gold Bond Series II opens today: 10 things to know about the scheme

12. 30 PM: Market erases gains

Benchmark Sensex and Nifty erased early gains on Monday, although traded on a bullish note, backed by strong global cues. Traders said investors shook off weak economic data and focused on the upcoming earnings season. Although markets sentiments tunred cautious, with Bank Nifty turning negative following reports that FM's meet with Public Sector Banks was rescheuled to later this week. BSE Sensex rose 200 points higher at 31,848 and Nifty climbed to 9,325, rising 69 points.

12.17 PM: VIP Industries' shares rise 10%

Shares of VIP industries were quoting Rs 232, up 18.90 points, or 8.87 per cent on NSE. The stock gained over 10% on BSE today after invetsor Jhunjhunwala raised stake by 2.85 lakh shares in the company during March quarter of FY20

Rakesh Jhunjhunwala has raised stake in this company in March quarter; shares up 10%

12.03 PM: Upcoming gold bond schemes

Following are the remaining gold bond schemes to be issued in the next four months:

2020-21 Series III : Subscription on June 08-12, 2020; Issued on June 16, 2020

2020-21 Series IV: Subscription on July 06-10, 2020; Issued on July 14, 2020

2020-21 Series V: Subscription on August 03-07, 2020; Issued on August 11, 2020

2020-21 Series VI: Subscription on August 31-September 04, 2020; Issued on September 08, 2020

11.55 AM: IRCTC share price gains 5%

IRCTC share price hit the upper circuit of 5% in early trade  today after Indian Railways said it would start operations of 15 passenger trains (30 return journeys) from May 12. Share price of IRCTC rose 5% or Rs 62 to Rs 1,302 against previous close of Rs 1240 in early trade on BSE.

IRCTC stock gained 5% in opening trade today. Total 3857 shares changed hands amounting to turnover of Rs 50.25 lakh on BSE.

IRCTC share price hits upper circuit of 5% after Indian Railways to resume services partially from May 12 

11. 35 AM: HDFC Asset Management shares fall 3.8% post Q4 result

Shares of HDFC Asset Management opened with a loss of 3.33% today and later fell 3.81% to an intraday low of Rs 2522.4 on BSE, after the company posted its March quarterly numbers.

Company's net profit stood at Rs 250 crore in Q4 FY20 as against Rs 276 crore in the same period last year. Company's revenue from operations during the quarter was down at Rs 476 crore from Rs 486 crore, on an annual basis. The company board has recommended a dividend of Rs 28 per share for FY 2019-20.

11.25 AM: Shree Cement share price gains 3% post results

Shree Cement share price touched an intraday high of Rs 19293.2, rising 2.9% on BSE after the compay reported its quarterly results. The company reported 83.2% rise (YoY) in consolidated net profit to Rs 588 crore during the quarter ended March 31, 2020 as against Rs 321 crore, recorded in a year-ago period. Total income fell 2.1% (YoY) to Rs 3,217 crore in the January- March quarter of the current fiscal as compared to Rs 3,284 crore in the same period last financial year.

11.16 AM: Sovereign gold bond scheme II Tranche opens today

Series II of sovereign gold bond scheme will close for subscription on May 15. The issue price of the Series II has been fixed at Rs 4,590 per gram. Buyers applying online and making payment through digital mode will be provided a Rs 50 discount.

11.05 AM: RIL Mcap crosses 10 lakh crore mark

Reliance Industries Ltd's (RIL) market capitalisation crossed Rs 10 lakh crore on Monday and touched an Mcap of Rs 10.18 lkah crore, as the stock was trading at day's high of Rs 1,614.85 on BSE. Earlier on Friday, RIL's Mcap crossed Rs 10 lakh crore mark but closed at  Rs 9,90,088.02 crore.

10.53 AM: Crude falls today

Brent Crude traded at $30.56 per barrel, down 1.32%.

10.47 AM: Global cues

Asian stocks rose after a number of countries reported the fewest deaths from the coronavirus since March. Meanwhile, US stocks closed higher on Friday despite record job losses. US Futures (Dow Jones) traded at 24435, up 149 points or 0.61%.

10.29 AM: Reliance Industries share price gains 3.4%

Reliance Industries share price touched an intraday high of Rs 1614.8, rising 3.4% on BSE after the company said  it has fixed May 14, 2020 as the record date for rights issue. The filing said that the rights issue opening and closing dates will be announced later.

10. 18 AM: SBI Cards share price falls over 3% post results

SBI Cards share price touched an intraday low of Rs 544.1 onBSE, falling 3.09% today after the company reported its quarterly results. The company's consolidated net profit at Rs 85 crore during the quarter ended March 31, 2020 as against Rs 249 crore, recorded in a year-ago period. Total income was up 21% (YoY) to Rs 2,510 crore in the January-March quarter of the current fiscal as compared to Rs 2,076 crore in the same period last financial year. Company's Gross NPA stood at 2.01% compared to 2.44% (YoY). Company's board has approved a dividend of Re 1 for FY2020.

10.06 AM: ICICI Bank share price

ICICI Bank share price fell to the intraday loss of Rs 330.90 on BSE today, down 2% after the company reported its quarterly results.The lender reported 26% rise in its standalone net profit at Rs 1,221 crores against Rs 969 crore in year-ago period. Lender's total deposits of the lender increased by 18% year-on-year to Rs 7.7 lakh crore, while net NPA fell to 1.41% as against 1.49% in December quarter and 2.06% in year-ago period.

9. 55 AM: Q4 result date announcements

Piramal Enterprises: May 11, 2020

Sequent Scientific: May 12, 2020

Umang Dairies: May 13, 2020

Datamatics Global Services: May 14, 2020

AAVAS Financiers: May 14, 2020

Aarti Drugs: May 15, 2020

9.48 AM: Market indices rises further

Benchmark Sensex and Nifty climbed sharply on Monday, backed by strong global cues, as investors shook off weak economic data and  focused on the upcoming earnings season. BSE Sensex rose 567 points higher at 32,210 and Nifty climbed to 9,425, rising 173 points. Market investors on domestic grounds were also anticipating stimulus outcome from PM Modi's meet, with all Chief Ministers on Monday at 3 pm and FM's meet with Public Sector Banks via video conference.

PM Modi to meet CMs today at 3 PM; revival of economy, ease of restrictions on agenda

9.40 AM: Top gainers/ Losers

Zee Entertainment, Tata Motors, Maruti, Vedanta and IndusInd Bank were among the top gainers today. On  the contrary, Dr Reddy, Nestle India and ICICI Bank were among the top losers on NSE today.

Q4 Earnings Today: Wockhardt, Godrej Properties, Godrej Agrovet, Motilal Oswal Financial Services, Sonata Software, Dharamsi Morarji Chemical, Orient Abrasives, Piramal Enterprises, Saint-Gobain Sekurit, Subex, Welcure Drugs, ADF Foods, Artson Engineering among others will be reporting March quarterly results today.

9.30 AM: Q4 Earnings Today

Wockhardt, Godrej Properties, Godrej Agrovet, Motilal Oswal Financial Services, Sonata Software, Dharamsi Morarji Chemical, Orient Abrasives, Piramal Enterprises, Saint-Gobain Sekurit, Subex, Welcure Drugs, ADF Foods, Artson Engineering among others will be reporting March quarterly results today.

9.19 AM: Opening bell

Benchmark Sensex and Nifty opened on a positive note on Monday, backed by strong global cues. BSE Sensex rose 458 points higher at 32,100 and Nifty started at 9,369, rising 118 points.

9. 15 AM: Stocks in news today

RIL, HDFC AMC, ICICI Bank, Adani Transmission, Cipla, Lupin, Shree Cement, SBI Cards among others are the top stocks to watch out for in Monday's trading session

Stocks in news: RIL, HDFC AMC, ICICI Bank, Adani Transmission, Cipla, Lupin, Shree Cement, SBI Cards and more

9.07 AM: Pre-open session today

Sensex pre-opened 450 points higher at 32,000 and Nifty started at 9,335, rising 89 points higher.

9.00 AM: Global cues

US stock indexes logged solid gains and closed higher on Friday  after data on historic job losses showed they were slightly fewer than feared. The Dow Jones Industrial Average rose 1.91%, the S&P 500 gained 1.69%, and the Nasdaq Composite added 1.58%.

All the Asian counterparts were trading positively today, tracking bullish trend from overseas.

8.56 AM: News Alert

PM Narendra Modi will be holding a video conference call with all Chief Ministers on Monday, May 11, at 3 pm. Meanwhile, Finance Minister Sitharaman will be reviewing credit flows by Public Sector Banks on May 11 via video conference

8. 52 AM: SGX Nifty up 80 points

SGX Nifty traded 185 points higher at 8,447 level, indicating a positive start in domestic grounds today.

8. 40 AM: Rupee closing on Friday

On the currency front, Indian Rupee settled at 75.54 per dollar as against the earlier closing of 75.75 per dollar.

8. 30 AM: FII/ DII action on Friday

On a net basis, FIIs bought Rs 1,725 crore worth in equities, while DIIs sold Rs 1,503 crore equities on Friday's trade.

8. 20 AM: Coronavirus toll

Globally, there are 41.80 lakh confirmed cases and 2.8 lakh deaths from the coronavirus COVID-19 outbreak. The number of infected cases from coronavirus in India has risen by 3,277 in the past 24 hours, taking the total tally to 62,939, including 19,357 cured and 2,109 deaths.

8.00 AM: Friday's closing bell

Benchmarks Sensex and Nifty closed higher on Friday, tracking bullish rally from overseas as investors shook off weak economic data and focused on upcoming earnings and stock specific action. Market indices were off day's high, closed on a bullish note on the last day of trading in the week. Reversing from losses after two straight sessions, Sensex climbed 199 points higher at 31,642 and Nifty rose 52 points to 9,251.

Share Market Update: Sensex ends 199 points higher, Nifty at 9,251; HUL, Sun Pharma, Dr Reddy top gainers

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