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Share Market Update: Sensex ends 190 points lower, Nifty at 9,196; GAIL, RIL, Asian Paints top losers

Sensex, Nifty Live News Today:  Germany's DAX turned green, following bullish trend in London's FTSE. SGX Nifty in Asia also turned flat with positive bias. Japan's Nikkie, China's Shanghai and Korea's Kospi also erased earlier losses and were trading marginally lower.

twitter-logoBusinessToday.In | May 12, 2020 | Updated 18:22 IST
Share Market Update: Sensex ends 190 points lower, Nifty at 9,196; GAIL, RIL, Asian Paints top losers
Globally markets were on a decline with lockdown restrictions being eased amid fear of a second wave of coronavirus

Sensex, Nifty Updates: Benchmark Sensex and Nifty erased early losses although closed bearish on Tuesday, in line with global markets. Traders said market indices erased losses as invetsors anticipated positive announcement from PM Modi, who will be addressing the nation at 8 PM later tonight.

After a sharp climb in financial and banking stocks by the last hour of trade, Sensex ended 190 points lower at 31,371 and Nifty closed 42 points lower at 9,196.

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

3.44PM: Closing bell

Benchmark Sensex and Nifty erased early losses although closed bearish on Tuesday, in line with global markets. Traders said market indices erased losses as invetsors anticipated positive announcement from PM Modi, who will be addressing the nation at 8 PM later tonight.

After a sharp climb in financial and banking stocks by the last hour of trade, Sensex ended 190 points lower at 31,371 and Nifty closed 42 points lower at 9,196.  

3.32 PM: Q4 result date announcements:

Escorts: May 14, 2020

GlaxoSmithKline Pharmaceuticals: May 18, 2020

Gujarat Themis Biosyn: May 18, 2020

Embassy Office Parks REIT: May 19, 2020

Tata Power: May 19, 2020

Sanofi India: May 19, 2020

Dr. Agarwals Eye Hospital: May 19, 2020

VST Industries: May 21, 2020

IDFC First Bank: May 22, 2020

CreditAccess Grameen: May 23, 2020

3. 27 PM: Alkem share price declines 2.6%

Alkem share price touched an intraday low of Rs 2526.85, falling 2.65% on BSE after the company announced closure of US FDA inspection at its manufacturing facility located at St Louis, USA.

3. 10 PM: Sonata Software share price falls 5% post Q4 results

Sonata Software share price opened with a loss of 3.57% today

and later touched an intraday low of Rs 195.15, falling 5.93% on BSE after the company posted poor set of numbers for the Q4 FY20.

The company reported 11.27% rise (YoY) in consolidated net profit to Rs 276 crore during the quarter ended March 31, 2020, as against Rs 248 crore, recorded in a year-ago period. Total income rose 27% (YoY) to Rs 3801 crore in the January-March quarter of the current fiscal as compared to Rs 2988 crore in the same period last financial year.

2. 57 PM: Global markets mixed

Global indices were subdued earlier, although gained momentum by the last hour of trade on domestic grounds. Germany's DAX turned green, following bullish trend in London's FTSE. SGX Nifty in Asia also turned flat with positive bias. Japan's Nikkie, China's Shanghai and Korea's Kospi also erased earlier losses and were trading marginally lower.

2. 51 PM: Market erases losses

Benchmark Sensex and Nifty erased earlier gains and recovered by the last hour of trade on Tuesday, following tweet by PM Modi, saying that he will be addressing the nation today at 8 PM. Trading muted as the other key global equities, Sensex was down 190 points at 31,371 and Nifty was trading 37 points lower at 9,201.

2.43PM: Rupee ends higher

Rupee closed stronger against the greenback at 75.50 per dollar as compared to its earlier close of 75.74 per dollar.

2. 37 PM: Glenmark Pharmaceuticals share price gains over 2%

Shares of Glenmark Pharmaceuticals rose 2.25% to an intraday high of Rs 342.95 after the company said it has initiated phase 3 clinical trials on antiviral Favipiravir for COVID-19 patients in India

2.31 PM: Dharamsi Morarji Chemical share price falls 5% post Q4 results

Dharamsi Morarji share price that rose 4.97% earlier in the day erased gains and touched an intraday low of Rs 70.15, falling 4.43% on BSE after the company posted poor set of numbers for the Q4 FY20.

The company reported 59% fall (YoY) in consolidated net profit to Rs 6 crore during the quarter ended March 31, 2020, as against Rs 16 crore, recorded in a year-ago period. Total income fell 20% (YoY) to Rs 52 crore in the January-March quarter of the current fiscal as compared to Rs 65 crore in the same period last financial year.

2. 18 PM: Ind-Swift Laboratories share up 4.8%

Ind-Swift Laboratories shares opened with a gain of 4.84% to the intraday high of Rs 21.65 on BSE after the company said it has received the Establishment Inspection Report (EIR) from the USFDA, for the surveillance GMP inspection of its API manufacturing facility located at Derabassi, Punjab.

2.04 PM: Sterlite Technologies rises 1.5% post Q4 result

Shares of Sterlite Technologies erased losses and gained 1.5% post the company submitted its quarterky result. The company reported 51% fall (YoY) in consolidated net profit to Rs 80 crore during the quarter ended March 31, 2020, as against Rs 165 crore, recorded in a year-ago period. Total income fell 35% (YoY) to Rs 1,170 crore in the January-March quarter of the current fiscal as compared to Rs 1,804 crore in the same period last financial year.

1.59 PM: Godrej Agrovet share price falls 3.8% post Q4 results

Godrej Agrovet share price that rose 2.93% earlier in the day erased gains and touched an intraday low of Rs 380.4, falling 3.84% on BSE as the company posted poor set of numbers for the Q4 FY 20

The company reported 34% fall (YoY) in consolidated net profit to Rs 74 crore during the quarter ended March 31, 2020, as against Rs 113 crore, recorded in a year-ago period. Total income grew 17% (YoY) to Rs 1643 crore in the January-March quarter of the current fiscal as compared to Rs 1401 crore in the same period last financial year.

1.40 PM: European indices trade flat

European indices lower in opening trade although erased losses to trade muted. Where FTSE was trading marginally higher, CAC and DAX were flat with negative bias

1.34 PM: Motilal Oswal share price declines 6.87% post results

Motilal Oswal share price opened with a loss of 2.7% today and later fell 6.87% to the intraday low of Rs 475.7 on BSE as the company posted poor set of numbers for the FY20.

The company reported 273% fall (YoY) to a consolidated net loss to Rs 253.75  crore during the quarter ended March 31, 2020, as against a profit of Rs 146.08 crore, recorded in a year-ago period. Total income fell 6% (YoY) to Rs 613 crore in the January-March quarter of the current fiscal as compared to Rs 657  crore in the same period last financial year.

1. 16 PM: Havells share price declines 3.5%

Havells share price touched an intraday low of Rs 471.55, falling 3.51% on BSE, ahead of its quarterly results today.

1.04 PM: Sterlite Technologies share price declines 4%

Sterlite Technologies share price touched an intraday low of Rs 91.45, falling 3.94% on BSE, ahead of its quarterly results today.

12.48 PM: Piramal Enterprises share price drops 10% post result

Piramal Enterprises share price touched an intraday low of Rs 839.05, falling 10% on BSE after the company reported its earnings figures.

The company reported a consolidated net loss of Rs 1,702.59 crore during the quarter ended March 31, 2020, as against a profit of Rs 454.63 crore, recorded in a year-ago period. Total income fell 1.98 % (YoY) to Rs 3,341 crore in the January-March quarter of the current fiscal as compared to Rs 3,408.52 crore in the same period last financial year. Company's board has recommended a dividend of Rs 14 per share for 2019-20.

12. 40 PM : Reliance Industries share price among top losers today

Reliance Industries snapped its 5-day gaining streak and traded among the top losers on the Sensex pack, with the shares falling almost 6% today.

RIL share price touched an intraday low of Rs 1483.3, falling 5.93% on BSE as ahgins the last closing vlaue of Rs 1576.75.  Reliance Industries is trading higher than 5, 20, 50, 100 and 200 day moving averages.

Why Reliance Industries shares fell 6% in intraday trade

12. 30 PM: Bandhan Bank share price falls 4.4% ahead of results

Bandhan Bank shares touched an intraday low of Rs 229, falling 4.42% on BSE as against the last closing of 239.60, as the company is scheduled to announce March quarterly numbers.

12.24 PM: Coronavirus toll

The number of cases in India has climbed to 70,756 on Tuesday, according to the health ministry, while the death toll due to COVID-19 rose to 2,293.

12. 17 PM: Dollar index rises

The dollar index, was trading 0.04% higher at 100.27 today. The dollar rose to a two-week high against major peers, propelled by rising US bond yields and increasing safe-haven demand amid growing fears about a second wave of coronavirus infections, which sent riskier currencies lower.

Most Asian currencies were trading weak as compared to the USD as global riskappetite was subdued due to rising fears of 2nd wave of coronavirus.

12.15 PM: News Alert

PM Narendra Modi will be addressing the nation at 8 PM today

11.53 AM: Sectors today

Banking indices also fell over 3.5% today, with ICICI Bank, Kotak Bank, HDFC Bank, Axis Bank being the top losers on Sensex pack.

Financials also continued to underperform in today's trade as well, dropping 3% with HDFC twins among the top Nifty losers.

Where auto index was trading 2% lower, pharma was falling 1.5%, followed by 1.2% drop in media and 1% fall in realty.

Meanwhile, IT sector was rising 0.54% in today's bearish session.

11. 48 AM: Asian markets trading lower

Tracking weak trend from a choppy session in Wall Street, investors across Asia were spooked over fears of a second wave of coronavirus infections. Wuhan, the central Chinese city where the virus outbreak first emerged reported six new infections in two days. This was after weeks of no new cases. Meanwhile, South Korea announced biggest spike in new cases in more than a month, while easing restrictions in the country. Further, investors remained cautious ahead of Chinese inflation data and Producers price index data, scheduled to be released later in the day.

Following the news, bourses in Hong Kong, Singapore, Taiwan were trading with significant losses, while Shanghai, Tokyo, and Seoul were trading marginally lower.

11.39 AM: Top losers and gainers

Asian Paints, HDFC duo, Maruti, ONGC, HUL, ICICI Bank and Kotak Bank were among the top losers on Sensex. Meanwhile, UltraTech Cement, Tech Mahindra, Sun Pharma, ITC and NTPC were trading as the top gainers today.

11.28 AM: Oil rises marginally

Brent crude futures, the global oil benchmark, rose 0.30% to $ 29.72 per barrel. Oil prices reversed from early losses today after Saudi's energy minister said that the country aims to cut production to support market, although the gains were capped on concerns of oil glut.

11. 13 AM: Market Update

Benchmark Sensex and Nifty fell sharply on Tuesday, in line with global indices as risk appetite was subdued amid rising fears of 2nd wave of coronavirus. Continuous spike in cases of the virus and possibility of lockdown extension after PM suggesting to state CMs that lockdown may be extended also kept market sentiments pessimistic. In line with key global equities, Sensex was trading 580 points lower at 30,979 and Nifty traded 154 points lower at 9,085. Weak Asian counterparts, a surge of new coronavirus infections and possibility of lockdown extension kept investors cautious on domestic grounds.

11.05 AM: Rupee opens lower

Rupee opened lower against the US dollar at 75.88 as against its earlier close of 75.74 per dollar.

Rupee vs Dollar: Rupee falls 22 paise to 75.95 amid weak equity market, strong dollar

10. 45 AM: Global cues

Asian markets were trading slightly lower today as investors awaited Chinese inflation data and Producers price index data, scheduled to be released later in the day.

US markets closed on a mixed note red as earnings and economic data showed weak state of the economy.

European markets earlier closed slightly lower on Monday even as many parts of Europe saw lockdown restrictions being eased amid fear of a second wave of coronavirus.

10.34 AM: Asian Paints top loser

Asian Paints share price was trading as the top loser on NSE Nifty today, falling 2.91% after the rating agency Goldman Sachs downgrades the stock to sell, with a target price of Rs 1,111. We see significant risks to sales growth as we expect consumers to down-trade and extend the re-painting cycle given the macroeconomic slowdown, GS said in its report.

10.22 AM: IRCTC share price jumps 5%

IRCTC share price was locked at 5% upper circuit of Rs  1367.95 since today's opening bell and continued its bullish streak as bookings for select trains resumed on Monday. As per an Railways official, approximately 30,000 PNRs had been generated and reservations issued to more than 54,000 passengers.

IRCTC share price gains 10% in two sessions on e-booking nod for 15 trains

10.13 AM: Nifty outlook by Geojit Financial

The brokerage had earlier marked down 9,346 as the turnaround point, incase upside prospects failed to materialise yesterday. The downside objective of 9,170 should be achieved today, reopening the possibilities of 8,960. The upside risk to this view begins at 9,280, the research firm further added.

10.02 AM: Market falls further

Benchmark Sensex and Nifty fell further on Tuesday, in line with global counterparts, amid heavy sell off in financials, auto and banking scrips. Weak Asian counterparts, a surge of new coronavirus infections and possibility of lockdown extension kept investors cautious on domestic grounds. In line with key global equities, Sensex was trading 580 points lower at 30,979 and Nifty traded 154 points lower at 9,085.

9.59 AM: Godrej Properties share price declines 1.7%

Godrej Properties share price fell 1.7% in today's session to the day's low of Rs 610.75 on BSE.

Godrej Properties share price falls on 35% decline in Q4 net profit

The company reported 6% rise (YoY) in consolidated net profit to Rs 267 crore during the quarter ended March 31, 2020, as against Rs 253 crore, recorded in a year-ago period. Total income fell 13% (YoY) to Rs 2,829 crore in the January-March quarter of the current fiscal as compared to Rs  3,236 crore in the same period last financial year.

Godrej Properties FY20 results: Profit rises 6% to Rs 267 crore; revenue drops 13%

9. 50 AM: Global cues

Despite bleak recent economic data, Wall Street closed slightly higher on Monday, backed by rally in Technology and healthcare shares amid more states restarting economic activity.

Asian stocks trade lower amid growing investor worries about a second wave of coronavirus infections after the Chinese city where the pandemic originated reported its first new cases since its lockdown was lifted.

SGX Nifty traded down 88 points at 9,141.30, indicating an bearish trend in domestic grounds.

Meanwhile, a surge of new coronavirus infections and possibility of lockdown extension kept investors cautious on domestic grounds.

9.32 AM: Stocks in news

Godrej Agrovet, Piramal Enterprises, Motilal Oswal, Nestle, Bandhan Bank, Havells among others are the top stocks to watch out for in Tuesday's trading session

Stocks in news: Godrej Agrovet, Piramal Enterprises, Motilal Oswal, Nestle, Bandhan Bank, Havells and more

9. 20 AM: Opening bell

Benchmark Sensex and Nifty opened sharply lower on Tuesday, as rising cases of the virus and possibility of lockdown extension caused volatility in broader market indices. PM suggesting to CMs that lockdown may be extended also kept market sentiments pessimistic. In line with key global equities, Sensex was trading 400 points lower at 31,153 and Nifty traded 103 points lower at 9,135.

9.10 AM: Pre-open session

Benchmarks Sensex and Nifty pre-opened on a negative note on Tuesday, backed by weak global cues. Sensex traded 225 points lower at 31,335 and Nifty fell 12 points to 9,239.

9.00 AM Coronavirus toll

Globally, there are 42.55 lakh confirmed cases and 2.87 lakh deaths from the coronavirus COVID-19 outbreak.

Meanwhile, the coronavirus case tally has reached 67,152 in India, including 2,206 deaths and 20,917 recoveries.

Coronavirus Live Updates: Lockdown extension likely; total cases rise to 67,152 in India

8. 50 AM: Q4 Earnings today

Today, Bandhan Bank, Blue Star, Havells, JK Paper, Nestle, Sterlite Technologies among others will announce their Q4 results.

8. 40 AM: Global markets in red

While US indices closed barely higher yesterday, Asian counterparts were trading mildly in red today. According to experts, prevailing uncertain market conditions amid the rising cases of the virus have caused volatility and led to the downfall of broader markets on a global scale.

8. 30 AM Market expectations

Benchmarks Sensex and Nifty are likely to open on a negative note on Tuesday, backed by weak global cues. SGX Nifty traded 70 points lower at 9,144 level, indicating a tepid start in domestic grounds today.

8.20 AM: FII/ DII action

On a net basis, FIIs bought Rs 534 crore worth in equities, while DIIs sold Rs 821 crore equities on Monday's trade.

8.10 AM: Rupee Closing

The rupee ended slightly stronger today at 75.74 per dollar as compared to the last close of 75.75 against the dollar.

8. 00 AM: Closing bell

On Monday, 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.

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

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