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Share Market Update: Sensex ends 637 points higher, Nifty at 9,383; Bajaj Finance, ICICI Bank, L&T, top gainers

Sensex, Nifty Live News Today: ICICI Bank, L&T, M&M, Maruti and Hero MotoCorp were among the top performers on NSE today. On the contrary, Nestle, Sun Pharma, HCL Tech, Airtel and Adni Ports were the top losers. Expert view over market reaction on stimulus announcement

twitter-logoBusinessToday.In | May 13, 2020 | Updated 15:51 IST
Share Market Update: Sensex ends 637 points higher, Nifty at 9,383; Bajaj Finance, ICICI Bank, L&T, top gainers
Here's a look at the updates of the market action on BSE and NSE today

Sensex, Nifty Updates: Sensex and Nifty traded majorly bullish on Wednesday and closed 2.3% higher each, as market investors cheered over the Rs 20 lakh crore stimulus pacakage, announced by Modi government. Sensex closed 637 points higher at 32,008 and Nifty ended the session at 9383, rising 187 points.

Market experts said market indices gaped up today as investors were awaiting on relief package from the central government. Investors are also keeping an eye on the upcoming March quarterly earnings. Godrej Consumer Products, Maruti Suzuki, Mphasis, Schaeffler India, Siemens among others  will announce their Q4 results today. Globally indices were mixed as investors were optimistic over prospects of more government stimulus although kept trades cautious amid spiking number of infected cases despite the lockdowns.

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

3.44 PM: Closing session

Sensex and Nifty traded majorly bullish on Wednesday and closed 2.3% higher each, as market investors cheered over the Rs 20 lakh crore stimulus pacakage, announced by Modi government. Sensex closed 637 points higher at 32,008 and Nifty ended the session at 9383, rising 187 points.

3.26 PM: IndiaMART InterMESH share price climbs over 10% post earnings

IndiaMART InterMESH share price opened with a gain of 9.48% today and later touched an intraday high of Rs 2420, rising 10.39% on BSE, after the compay reported its quarterly results.

The company reported 57.09% rise (YoY) in consolidated net profit to Rs 44.3 crore during the quarter ended March 31, 2020, as against Rs 28.2 crore, recorded in a year-ago period. Total income rose 22.58% (YoY) to Rs 187.3  crore in the January-March quarter of the current fiscal as compared to Rs 152.8 crore in the same period last financial year.

3.15 PM: Maruti shares up 1.7% post result

Maruti shares erased earlier gains and traded 1.71% higher at Rs  5035 on BSE after the company posted weak quarterly estimates.

The auto maker reported 28% fall (YoY) in consolidated net profit to Rs 1291 crore during the quarter ended March 31, 2020, as against Rs 1795 crore, recorded in a year-ago period. Total income fell 15.2% (YoY) to Rs 18,198  crore in the January-March quarter of the current fiscal as compared to Rs 21,459 crore in the same period last financial year.

3.06 PM: Expert view over market reaction on stimulus announcement

Expressing views over the Prime Minister's announcement ofRs 20 lakh crore economic stimulus and how it will impact the stock market, Aamar Deo Singh, Head Advisory, Angel Broking said,"Markets have taken it positively with the benchmark indices up by more than 2.5%, giving a thumbs up to this announcement. But we will have to wait for the detailed announcements from the Finance Minister, which will give clarity on the finer details of the economic package, and what is in store for various sectors. But nonetheless, this is a very welcome step by the government and will help India progress on the path of self-reliance."

2.41 PM: Rupee closes stronger

Rupee, the local unit closed stronger at 75.47 per dollar as compared to its earlier closing of 75.50 per US dollar.

2.33 PM: Havells India gains 3.5% post Q4 results

Havells India share price gained 3.5% to an intraday high of Rs 509.55 after the company posted its quarterly results today.

The company reported 11.24% fall (YoY) in consolidated net profit to Rs 177.73 crore during the quarter ended March 31, 2020, as against Rs 199.01 crore, recorded in a year-ago period. Total income fell 19.63% (YoY) to Rs 2238.22 crore in the January-March quarter of the current fiscal as compared to Rs 2784.78 crore in the same period last financial year.

2.20 PM: Tata Motors share price gains 9.23%

Tata Motor share price touched an intraday high of Rs 94.1, rising 9.23% on BSE after the company said it has restarted operations at selected plants and dealerships.

2.13 PM: Blue Star share price gains 3% post Q4 earnings

Blue Star share price gained 3% intraday after the company posted its quarterly results today.

The company reported 89.19% fall (YoY) in consolidated net profit to Rs 8.38 crore during the quarter ended March 31, 2020, as against Rs 77.55 crore, recorded in a year-ago period. Total income fell 18.49% (YoY) to Rs 1305.71 crore in the January-March quarter of the current fiscal as compared to Rs 1601.89 crore in the same period last financial year.

1.55 PM: NMDC share price gains 5.63%

NMDC share price opened with a gain of 5.49% today and later climbed 5.63% intraday to the day's high of Rs 75 on BSE. this was after the company announced that it has revised its iron ore prices from May 9, 2020.

As per the filing, Lump Ore (65.5%, 6-40mm) is priced at Rs 2,250 per ton, while Fines (64%, -10mm) are priced at Rs 1,960/- per ton.

1.49 PM: JK Paper share price drops 3% post Q4 results

JK Paper share price fell 3% intraday to the low of Rs 93 after the company posted its quarterly results today.

The company reported 11.24% rise (YoY) in consolidated net profit to Rs 475.32 crore during the quarter ended March 31, 2020, as against Rs 427.28 crore, recorded in a year-ago period. Total income fell 4.32% (YoY) to Rs 3164 crore in the January-March quarter of the current fiscal as compared to Rs 3306.71 crore in the same period last financial year.

1. 36 PM: Maruti amongst top gainers ahead of earnings

Maruti share price was trading among the top gainers today, as the company is scheduled to post its quarterly resylts today.

Shares of Maruti opened with a gain of 5.45% today and later climbed 7.5% to the intraday high of Rs 5321.3 on BSE

1. 30 PM: Nestle India share price falls 2.3% post Q4 earnings.

Nestle India share price erased early gains and fell 4.72% intrady to the day's low of Rs 16633.7 on BSE after the company posted its quarterly results today.

The company reported 13.55% rise (YoY) in consolidated net profit to Rs 525.43 crore during the quarter ended March 31, 2020, as against Rs 462.74 crore, recorded in a year-ago period. Total income rose 9.49% (YoY) to Rs 3368.12 crore in the January-March quarter of the current fiscal as compared to Rs 3076.14 crore in the same period last financial year.

1.24 PM: Market Update

Sensex and Nifty opened majorly bullish on Wednesday, although erased earlier gains to trade 1.9% higher each, amid heavy sell off in global markets. Sensex rose 668 points higher at 32,040 and Nifty traded at 9372, rising 175 points. European markets also opened lower today, dropping almost 2%, tracking sell off from major key euqities.

1.18 PM: Kotak Mahindra Bank gains 5% post Q4 earnings

Kotak Mahindra Bank share price gained 5.3% intraday high of Rs 1220.85 after the company posted its quarterly results today.

The company reported 19.28% rise (YoY) in consolidated net profit to Rs 8593.36 crore during the quarter ended March 31, 2020, as against Rs 7204.13 crore, recorded in a year-ago period. Total income rose 9.58% (YoY) to Rs 50299.6 crore in the January-March quarter of the current fiscal as compared to Rs 45903.36 crore in the same period last financial year.

1.08  PM: European indices open lower

European markets opened lower today, dropping almost 2%, tracking sell off from major key euqities. Where London's FTSE was down 1.25%, CAC and DAX declined 2% each.

Asian stocks fell on growing second virus wave fears. US stocks fell after a top government scientist warned against ending the coronavirus shutdowns and reopening the economy too quickly. US Futures (Dow Jones) traded at 23569, down 5 points or 0.02%.

12.50 PM: Bharti Airtel share price down 1.8%

Bharti Airtel shares fell1.8% to the day's low of Rs 549.40 on BSE by afternoon session today, with Airtel Africa posting 22% drop in net profit for quarter-ended March to $65 million as compared to  $82 million, in a year ago period.

12.45 PM: PM: Dr Reddy share price rises 2%

Dr Reddy's share price climbed 2% intraday after the company announced that its Srikakulum Plant (SEZ) Unit I, Andhra Pradesh has received Establishment Inspection Report (EIR) from USFDA, indicating closure of the audit and the inspection classification of this facility is determined as No Action Indicated (NAI).

12. 25 PM: Nirmala Sitharaman to address media on economic stimulus today

Finance Minister Nirmala Sitharman is going to hold a press briefing at 4 pm today, in which she will spell out details regarding the Modi government's economic stimulus package worth Rs 20 lakh crore. This package is about 10 per cent of India's GDP.

Time, when & where to watch live streaming

12.13 PM: Top gainers and Losers on Sensex

ICICI Bank, L&T, Axis Bank, Bajaj Finance, Hero MotoCorp, M&M, UltraTech Cement and Maruti were among the top gainers on Sensex pack. On the other hand, Nestle India, Bharti Airtel, Sun Pharma and Reliance Industries were among the top losers.

12.08 PM: Shares rise post Q4 earnings

Investors are also watching out for recently announced and upcoming earnings. Shares of Kotak Mahindra Bank, Maruti rose ahead of their Q4 earnings. Shares of Bandhan Bank, Havells India and Blue star rose 9.5%, 3.5% and 3% post earnings, while Nestle was trading as Nifty's top loser, falling 2.33% intraday as it posted weak Q4 figures. JK Papers also fell 3% after posting Q4 earnings.

Sensex climbs over 1,000 points on Rs 20 lakh crore stimulus package: 10 things to know

11.48 AM: Market Update

Domestic indices erased opening gains by the first hour of trade, mirroring overseas trend. Sensex rose 809 points higher at 32,180 and Nifty traded at 9420, rising 222 points.

Experts said fear of a second wave of coronavirus infections kept market sentiments pessimistic. Market participants said indices turned volatile on Wednesday as investors were optimistic over prospects of more government stimulus although kept trades cautiously amid a spiking number of infected cases and the possibility of an extended lockdown.

11.27 AM: Companies to report Q4 earnings

Stock specific action was also registered in the companies that are scheduled to post results today. Maruti gained 7.5%, Kotak Mahindra Bank (5.22%), Godrej Consumer (4.73%), Siemens (3.45%), Schaeffler India (3.23%), Mphasis (2.89%).

11.10 AM: Sectors today

Financials lead the surge, with the bank and financial indices rising around 5-6%. this was followed by 3.8% rise in realty, 3.5% in metal and 3% in the auto. Pharma was the only index trading in red today.

10.46 AM: Rupee rises 21 paise to 75.30 against US dollar

Rupee climbed 21 paise higher to open at 75.3 per dollar amid gap up opening in domestic equity market

10.41 AM: News Alert

FM Sitharaman will address media at 4 pm today, detailing the Rs 20 lakh crore economic package announcement.

10. 35 PM: Investors gain Rs 3 lakh crore

Market capitalisation on BSE rose to Rs 125.44 lakh crore today compared to the previous session's market cap of Rs 122.69 lakh crore. This was on back of   as Sensex opening over 1,000 points higher after Rs 20 lakh crore stimulus pacakage was announced by Modi government to support the coronavirus-hit economy.

Investors gain Rs 3 lakh crore after PM Narendra Modi announces Rs 20 lakh crore Covid relief package

10.24 AM: Bandhan Bank share price gains 9.5%

Bandhan Bank share price surged 9.5% intraday after reporting its Q4 results. Bandhan Bank share price opened with a gain of 6.86% today later touched an intraday high of Rs 256, rising 9.43% on BSE.

The lender reported 20.52% fall (YoY) in its net profit to Rs 517.28 crore during the quarter ended March 31, 2020, as against Rs 650.87 crore, recorded in a year-ago period.

10.15 AM: Coronavirus toll

There are currently 43.42 lakh confirmed cases and 2.92 lakh deaths from the coronavirus COVID-19 outbreak as of May 13, 2020, 02:44 GMT.

India has reported total 74,281 cases, after 3,525 new cases recorded in the last 24 hours. Meanwhile, recoveries have risen by 1,931 cases in one day to 24,385, in the highest single-day rise. Deaths at 2,415, up 122 in last 24 hours.

Coronavirus live updates: Lockdown 4.0! FM Sitharaman may unveil Rs 20 lakh crore package today; cases-74,281

10.03 AM: Top gainers/losers today

ICICI Bank, L&T, M&M, Maruti and Hero MotoCorp were among the top performers on NSE today. On the contrary, Nestle, Sun Pharma, HCL Tech, Airtel and Adni Ports were the top losers.

9.59 AM: Earnings Today

Meanwhile, investors are also keeping an eye on the upcoming March quarterly earnings. Godrej Consumer Products, Kotak Mahindra Bank, Maruti Suzuki, Mphasis, Schaeffler India, Siemens among others  will announce their Q4 results today.

9.54 AM: Market erases early gains

Sensex and Nifty opened majorly bullish on Wednesday, although erased earlier gains to trade 1.9% higher each, amid heavy sell off in global markets.  Sensex rose 809 points higher at 32,180 and Nifty traded at 9420, rising 222 points.

Market started with a gap up today as investors were optimistic over the announcement of Rs 20 lakh crore economic relief package. In his 5th address to the nation, Prime Minister Narendra Modi announced extension of lockdown, after incorporating inputs from the states, which will bring new rules and regulations with it. PM Modi also announced support for land, labour of Rs 20 lakh crore ($265 billion) financial package, to deal with the impact of coronavirus. FM Sitharaman will be announcing the details in phases starting May 13, 2020

9.44 AM: Vedanta shares climb almost 10%

Vedanta shares gained for the third straight session today, rising 9.7% to Rs 98.2 on BSE. The company plans to consider delisting from BSE & NSE on May 18. the filing said the delisting price for the company's shares is at Rs 87.50 per share.

9.36 AM: Jubilant Life Sciences shares climb 5% upper circuit at pre open

Shares of Jubilant Life Sciences opened at 429.95 and has since traded at this price, locked at 5% upper circuit today. This comes after the compay announced that its subsidiary Jubilant Generics Limited, has entered into a non-exclusive licensing agreement with Gilead Sciences for remdesivir, an investigational drug for treating coronavirus.

Jubilant Life Sciences share price hits upper circuit on pact with Gilead to make remdesivir

The agreement allows Jubilant to register, manufacture and sell remdesivir in 127 countries, including India. This is the first voluntary licence for remdesivir.

"Under the licensing agreement, Jubilant will have the right to receive a technology transfer of the Gilead manufacturing process to scale up production to enable expedited access of the medicine to COVID-19 patients upon approvals by regulatory authorities in respective countries," Jubilant Life Sciences told stock exchanges in a filing on Tuesday.

Jubilant Life Sciences to be first to produce Gilead's coronavirus drug Remdesivir

9. 29 AM: Stocks to watch today on May 13

Jubilant Life Sciences, Vedanta, NMDC, Nestle, Bandhan Bank, Maruti Suzuki, Siemens among others are the top stocks to watch out for in Wednesday's trading session.

Stocks in news: Jubilant Life Sciences, Vedanta, NMDC, Nestle, Bandhan Bank, Maruti Suzuki, Siemens and more

9. 20 AM: Opening Bell

Sensex and Nifty started majorly bullish on Wednesday, bucking the bearish global trend, as investors were optimistic over the announcement of Rs 20 lakh crore economic relief package. Investors also banked upon the news that Jubilant LifeSciences plans to register, manufacture and sell remdesivir in 127 countries, including India. Sensex rose 809 points higher at 32,180 and Nifty traded at 9420, rising 222 points.

9. 10 AM: Pre-open session

Benchmark Sensex and Nifty pre-opened sharply higher on Tuesday, backed by the announcement of Rs 20 lakh crore economic stimulus by PM Modi yesterday. Market experts said market indices gaped up today as investors were awaiting on relief package from the central government. SGX Nifty traded 270 points higher at 9,447 level, indicating a gap-up start in domestic grounds today. Sensex rose 1400 points higher at pre-open today, to 32,841 and Nifty climbed to 9584, rising 387 points.

8.55 AM AM: Global cues

Globally markets were trading mixed today as investors weighed the potential for a second wave of virus infections after reopening economies.Most markets were trading in red today, barring London's FTSE and some Asian indices. While Nikkei fell sharply, Taiwan, Kospi and SGX Nifty traded in green territory.

On Wall Street, the Dow Jones Industrial Average fell 1.89%, the S&P 500 lost 2.05% and the Nasdaq Composite dropped 2.06%.

8.40 AM: Announcements of lockdown extension, stimulus

In his 5th address to the nation, Prime Minister Narendra Modi announced extension of lockdown, after incorporating inputs from the states, which will bring new rules and regulations with it. PM Modi also announced Rs 20 lakh crore ($265 billion) economic stimulus to deal with the impact of coronavirus yesterday. FM Sitharaman will be announcing the details in phases starting May 13, 2020.

Post the announcement of the economic package of nearly 10% of a GDP (approx Rs 20 lakh crore), SGX Nifty climbed more than 350 points yesterday.

Modi announces package for land and labour, talks about Make in India 2.0 amid coronavirus crisis

8.30 AM: SGX Nifty trades higher

SGX Nifty traded 270 points higher at 9,447 level, indicating a gap-up start in domestic grounds today.

8.20 AM: DII/FII action on Tuesday

On a net basis, FIIs sold Rs 1,662.03 crore, while DIIs offloaded Rs 364 crore worth equities on Tuesday.

8. 10 AM: Rupee closing

On the currency front, Rupee closed stronger against the greenback at 75.50 per dollar on Tuesday as compared to its earlier close of 75.74 per dollar

8.00 AM: Closing bell

On Tuesday, Sensex ended 190 points lower at 31,371 and Nifty closed 42 points lower at 9,196.

Sensex ends 190 points lower, Nifty at 9,196 amid mixed global cues

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