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Share Market Update: Sensex ends 261 points lower, Nifty at 9,205; SBI, Britannia, Bajaj Finance top losers

Sensex, Nifty Live News Today: Market erased gains on Tuesday after rating firm S&P said that India's fiscal space is expected to be limited, owing to government's already elevated deficit. S&P added that systemic pressures for Indian banks could rise, owing to extension of the virus induced lockdown.

twitter-logo BusinessToday.In        Last Updated: May 5, 2020  | 17:41 IST
Share Market Update: Sensex ends 261 points lower, Nifty at 9,205; SBI, Britannia, Bajaj Finance top losers
Here's a look at the updates of the market action on BSE and NSE today

Sensex, Nifty Updates: Market indices Sensex and Nifty erased earlier gains and closed in red territory on Tuesday, tracking fall in Asian counterparts. Extending decline for the second straight session, Sensex ended 261 points lower at 31,453 and Nifty fell 87 points to end at 9,205. SGX Nifty also fell 0.40% or 35 points lower at 9,203. Market erased gains on Tuesday after rating firm S&P said that India's fiscal space is expected to be limited, owing to government's already elevated deficit. S&P added that systemic pressures for Indian banks could rise, owing to extension of the virus induced lockdown. As per experts, global investors are factoring in collapse in earnings, terrible economic data and now US-China trade discord.

Investors are trading cautiously ahead of March quarterly earnings. Adani Ports, Astec Lifesciences, Rallis India, NIIT Technologies, Tata Coffee, SBI Life will be reporting their Q4 figures today.

Experts said market sentiments turned cautious amid mixed signals on growth and hopes on a possible vaccine, improve on policy support, corporate earning performances this week and a fresh threat of US-China tariff escalation on the virus backdrop. US stocks closed higher yesterday, boosted by oil rally and technology sector, while Asian stocks rose as a number of economies move toward easing lockdowns. Meanwhile, European indices also rose higher at open and turned green, tracking bullish trend from overseas.

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

3.55 PM: Closing bell

Market indices Sensex and Nifty erased earlier gains and closed in red territory on Tuesday, tracking fall in Asian counterparts. Extending decline for the second straight session, Sensex ended 261 points lower at 31,453 and Nifty fell 87 points to end at 9,205.

3.42 PM: ICICI Bank shares rise almost 3%

ICICI Bank share price opened opened with a gain of 2.88% at Rs 348 today. ICICI Bank stock is trading higher than 20 day moving averages but lower than 5 day, 50 day, 100 day and 200 day moving averages. The shares gained in early trade today after the private sector lender said it would consider raising of funds via debt route in its board meeting to be held on May 9.

ICICI Bank stock rises 3% on plan to raise funds through debt route

3. 33 PM: Rallis India share price gains 5.45% today

Shares of Rallis India were trading at Rs 225.45, up 5.45 points, or 2.48 per cent on BSE as the company will be reporting itsquarterly results today.

Big Bull Rakesh Jhunjhunwala has increased his stake in Rallis India during the fourth quarter of FY20. Jhunjhunwala purchased an additional 2.75 lakh shares to raise his stake to 9.93 per cent in the March quarter as against 9.79 per cent in the December quarter in the agrochemicals firm, the data of shareholding pattern on BSE showed. 

Big Bull Rakesh Jhunjhunwala increases stake in Rallis India in March quarter

3. 29 PM: Astec Lifesciences share price gains over 8% ahead of results

Astec Lifesciences share price touched an intraday high of Rs 455.5, gaining 8.87% on BSE today, ahead of its March quarterky results, scheduled to be released today.

3. 24 PM: Axis Bank shares fall over 3%

Axis Bank share price dropped 3.7% to the day's low of Rs 386.70 on BSE today after S&P said large unanticipated asset quality shocks may result in downgrade of Axis Bank. S&P said that Axis Bank's Jan-Mar results underscore high stress at Indian banks. It added that systemic pressures for Indian banks could rise owing to lockdown extension.

3. 17 PM: Expert opinion on rupee

Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking said, "Sentiments have also taken a beating amid weak PMI manufacturing numbers, underscoring the impact of coronavirus on the economy, where the overall trend in rupee looks skewed on the downside. The IIP numbers ahead are expected to be weak and are going to further worsen the rupee dollar equation."

On its technical outlook, she further added," 77 mark is guarding rupee from further depreciation. Rupee is expected to gyrate in the range of 75.20 -76.60 in coming days."

3.11 PM: Sectors today

In terms of sectors, PSU Banking was down 3%, followed by 2.8% fall in realty, 2.6% fall in bank and 2.1% fall in private banking and financials. FMCG and pharma were down 1.5% each.

3.05 PM: SGX Nifty turns red

Sensex was trading 245 points lower at 31,469 and Nifty fell 82 points to 9,210. SGX Nifty also fell 0.40% or 35 points lower at 9,203.As per experts, global investors are factoring in collapse in earnings, terrible economic data and now US-China trade discord.

2. 51 PM: Liquor stocks gain

Share price of alcohol and brewery companies Radico  Khaitan and United Breweries  fell up to 6% in trade today after Arvind Kejriwal-led Delhi government imposed a 'special coronavirus fee' on sale of liquor by raising excise duty by 70%. Later, Andhra Pradesh government also raised excise duty on liquor sale by 70%.

Sale of liquor: Radico Khaitan, United Breweries stocks fall up to 6% after Delhi govt hikes excise duty by 70%

2. 43 PM: Why market reversed trend today

Market erased gains on Tuesday after rating firm S&P said that India's fiscal space is expected to be limited, owing to government's already elevated deficit. S&P added that systemic pressures for Indian banks could rise, owing to extension of the virus induced lockdown.

Investors are trading cautiously ahead of March quarterly earnings. Adani Ports, Astec Lifesciences, Rallis India, NIIT Technologies, Tata Coffee, SBI Life will be reporting their Q4 figures today.

Experts said market sentiments turned cautious amid mixed signals on growth and hopes on a possible vaccine, improve on policy support, corporate earning performances this week and a fresh threat of US-China tariff escalation on the virus backdrop.

2. 37 PM:Market erases gains to turn red

Market indices Sensex and Nifty erased earlier gains and fell in red territory on Tuesday, in line with overseas trend. Sensex was 90 points lower at 31,622 and Nifty fell 26 points to 9,267.

2.26 PM: Rupee ends at 75.62

Rupee ended higher at 75.62 per dollar as against Monday's close of 75.71 against the US dollar

2.23 PM: Kalpataru Power Transmission share price gains over 5%

Kalpataru Power Transmission share price opened 4.64% higher and later gained 5.09% to the intraday high of Rs 230 on BSE after the company successfully completed sale of its entire 100% stake in Kalpataru Satpura Transco Private Limited (KSTPL) to CLP.

As per the filing, KSTPL ceased to be a subsidiary of the Company with effect from 20th November 2019. The company has also received full consideration towards sale of its stake in KSTPL to CLP in November 2019.

2.17 PM: Market update

Market indices Sensex and Nifty traded on a bullish note on Tuesday's afternoon session, in line with ovreseas trend. Sensex was 280 points higher at 31,999 and Nifty climbed 80 points to 9,374.

2.08 PM: Reliance Industries share price gains 3%

RIL share price continue its rally from yesterday and rose 3.02% to an intraday high of Rs 1478.8 on BSE today. Company announced yesterday that Silver Lake will invest Rs 5,655.75 Crore in Jio Platforms at an equity value of Rs 4.90 lakh crore', issued by the company.

Reliance Industries is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

1.56 PM: Tata Motors share price gains 1.5%

Shares of Tata Motors were trading 1.51% higher at Rs 86 on BSE after the company said its board has approved raising up to Rs 1,000 crore through NCDs in tranches.

Tata Motors share price trades higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.

1.49 PM: Adani Ports share price erases gains ahead of results

Adani Ports share price erased early gains and traded lower ahead of its March earning figures today. The stock earlier opened with a gain of 2.06% and climbed 2.12% to the intraday high of Rs 272.15.

Although later the stock fell 2.05% to an intraday low of Rs 261.05 on BSE.

1.37 PM: Tata Coffee share price up 5% ahead of results

Tata Coffee share price rose 5.55% to the intraday high of Rs 79.9 on BSE ahead of reporting March earning figures today.

1.31 PM: Shriram Transport Finance share price gains 5.44%

Shriram Transport Finance shares opened with a gain of 3.88% today and later touched an intraday high of Rs 786.35, rising 5.44%on BSE.

Company announced that India Ratings and Research (Ind-Ra) has placed it's long-term issuer rating of 'IND AA+' on Rating Watch Negative (RWN), with Stable outlook. The short-term rating has been affirmed at 'IND A1+', the filing added.

1.22 PM: Ashok Leyland share price falls 3%

Ashok Leyland share price that rose 3.04% to the day's high of Rs 50.85 fell later 2.94% to the intraday low of Rs 47.9 on BSE.

This was on back of company announcing that it has reported zero sales for the month of April 2020.

The company said it suspended its production across all its factory locations since March 24,2020 and all the manufacturing activities and its dealerships across India, remained affected and recorded nil production and sales, for the month of April 2020.

Ashok Leyland share price trades higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.

1.13 PM: Phillips CarbonBlack share price falls after rating

Phillips CarbonBlack share price opened with a gain of 2.3% today and later touched an intraday high of Rs 78  on BSE.

Rating firm ICRA, reaffirmed the long-term rating for the Line of Credit (LOC) of Rs 400 crore from various banks and unavailed facility at [ICRA] AA- (pronounced ICRA double A minus). As per the filing, the outlook on the long-term rating is revised from [ositive to stable.

Later the shares fell and traded 0.33% lower at Rs 76 on BSE.

1.06 PM: Bharti Infratel share price rises 8%

Bharti Infratel share price earlier opened lower and fell 2.31% to the intraday low of Rs 164.9. Later the shares reversed trend and rose 7.88% to an intraday high of Rs 182.10 on BSE.

The stock trades higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.

1.00 PM: Market cues overseas

European indices rose higher at open and turned green, tracking bullish trend from overseas. Where FTSE and DAx gained 1.6% each, CAC was up 2%.

Most Asian indices turned marginally green, barring Nikkei and Kospi, as investors turned optimistic over Wall Street's closing in the green. US stocks closed higher yesterday, boosted by oil rally and technology sector, while Asian stocks rose as a number of economies move toward easing lockdowns. US Futures (Dow Jones) also traded higher at 23745, up 174 points or 0.74%.

12. 54 PM: Market erases gains

Market indices Sensex and Nifty erased morning gains by Tuesday's afternoon session, in line with trend in SGX Nifty. Sensex traded 118 points higher at 31,834 and Nifty climbed 23 points higher to 9,315. Investors are trading cautiously ahead of March quarterly earnings. Adani Ports, Astec Lifesciences, Rallis India, NIIT Technologies, Tata Coffee, SBI Life will be reporting their Q4 figures today.

Experts said market sentiments turned cautious amid mixed signals on growth and hopes on a possible vaccine, improve on policy support, corporate earning performances this week and a fresh threat of US-China tariff escalation on the virus backdrop.

12.42 PM: Earnings scheduled tomorrow

YES Bank, Adani Enterprises, JM Financial, Kansai Nerolac Paints, TCI Developers, DG Content will be reporting their quarterly results tomorrow.

Kansai Nerolac Paints was rising 2.68%, followed by 1.79% rise in Adani Enterprises.

JM Financial fell 2.48%, while YES Bank was falling 1.29% in today's trade.

12.33 PM: Bharat Forge share price climbs 4%

Bharat Forge share price opened with a gain of 2.06% today and later climbed 3.59% to an intraday high of Rs 279.55 on BSE after the company said it has commenced operations in a graded manner with Baramati facility reopening today. The filing added that the company expects production to commence by end of the week.

12. 27 AM: Jindal Steel Plant share price climbs 4%

JSPL share price opened with a gain of 3.57% today and later touched an intraday high of Rs 88.95, rising 4.1% on BSE. The compay reported 5% growth YoY in the production of steel & granulated pig iron to 5.5 lakh tonnes during April 2020 in India.

JSPL Group has recorded 6.55 lakh tonnes of consolidated steel production in April month, the filing added further. The stock trades higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.

12.16 PM: Varun Beverages share price erases gains post Q4

Varun Beverages share price, that was trading 4.95% higher ahead of results today, erased gains and turned flat with negative bias, post the submission of earning figures.

The company reported 50% rise (YoY) in consolidated net profit to Rs 60 crore during the quarter ended March 31, 2020 as against Rs 40 crore, recorded in a year-ago period. Total income rose 23.1%(YoY) to Rs 1,699 crore in the January-March quarter of the current fiscal as compared to Rs 1,381 crore in the same period last financial year.

11.59 AM:  AU Small Finance Bank share price down 5%

AU Small Finance Bank share price slipped 4.99% to the day's low of Rs 490.75 after Nomura downgraded the stock. The stock opened at 490.75 and has since traded at this price, It has fallen 9.7% in the last 2 days.

11. 48 AM: Nifty's technical outlook

Nifty's technical outlook as per the Technical & Derivatives Report by Sameet Chavan-Chief Analyst-Technical and Derivatives, Angel Broking

- In case of further escalation, we may see Nifty correcting towards 9100 - 9000  

- On the flipside, 9390 followed by 9450 would be seen as immediate hurdles 

- Nifty could manage to find support in the zone of 9250-9200 levels.

11. 43 AM: Aviation stocks under pressure

Aviation stocks were under pressure on Tuesday trade after the fall of airline in stocks in US, with Warren Buffett's announcement that Berkshire Hathaway Inc would completely exit stakes from four major US airlines also kept sentiments negative.

Where Indigo shares fell 2% in the opening trade, SpiceJet share price was trading 5% lower today.

11. 38 AM: IndiGo share price rises 5%

InterGlobe Aviation share price rose 5% intraday to the day's high of Rs 974 on BSE as against the previous closing value of Rs 927.50 on BSE.

IndiGo share price trades higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages.

11.29 AM: Nifty gainers and losers

Bharti Infratel, ONGC, M&M, BPCL and Zee Entertainment were the top gainers on Nifty, while Asian Paints, Bajaj Finance, Britannia, Dr Reddy and Cipla were among the losers on Nifty.

11.13 AM: Sensex pack gainers and losers today

ONGC, M&M, Bharti Airtel, IndusInd Bank, ICICI Bank, PowerGrid and Tech Mahindra were among the top gainers in the Sensex pack. On the other hand, Asian Paints, Titan and Ultratech Cement were the top laggards.

11.06 AM: Market update

Experts said market sentiments turned cautious amid mixed signals on growth and hopes on a possible vaccine, improve on policy support, corporate earning performances this week and a fresh threat of US-China tariff escalation on the virus backdrop.

Further, Apple and Amazon's warning of uncertainty ahead due to the coronavirus coupled with billionaire investor Warren Buffett announcement that Berkshire Hathaway Inc would completely exit stakes from four major US airlines also kept sentiments negative.

11.00 AM: Sectors today

Sectorally, barring realty and PSU Bank, all the other sectors traded in green, with media metal and auto rising over 1%.

10.58 AM: Monday's close

Bourses closed sharply bearish on Monday and fell over 5.5% each, tracking weak cues from overseas. BSE Sensex closed 2,002 points lower at 32,000  and NSE Nifty lost 566 points to 9,293.

10.53 AM: Lupin share price rises 2.7%

Lupin share price opened with a gain of 2.71% today and touched an intraday high of Rs 863.9 after the company announced positive top-line results from its pivotal Phase 3 clinical trial to assess efficacy and safety of single-dose Solosec (secnidazole) 2g oral granules in 147 female patients with trichomoniasis.

10.46 AM: Market erases gains

Benchmarks Sensex and Nifty erased earlier gains, although traded higher on Tuesday, backed by strong global cues. BSE Sensex rose 250 points higher to 32,238 and NSE Nifty climbed 80 points to 9,378.

Meanwhile, SGX Nifty also erased gains and traded 119 points higher at 9,359.

10.32 AM: Oil prices gain 5%

Oil prices gained 5% as several countries announced their move towards easing coronavirus induced lockdowns and crude supply cuts took effect.

US crude futures was up 3.87% at $21.18 per barrel and Brent was trading at $27.97 on Tuesday, up 5.79% on the day.

Coronavirus: Global oil prices rise as lockdowns ease

10.24 AM: Rupee opens higher

Rupee the local currency benchmark, opened at 75.62 per dollar as compared to the previous closing of Rs 75.71 per US dollar.

Rupee vs Dollar: Rupee rises 15 paise to 75.58 amid weakness in US dollar

10.13 AM: Coronavirus toll in India

Globally, there are currently 36.45 lakh confirmed cases and 2.2 lakh deaths from the coronavirus COVID-19 outbreak. India's total count of confirmed COVID-19 cases stands at 46,433, including 12,726 recoveries and 1,568 deaths.

Coronavirus Lockdown Live Updates: India's total COVID-19 cases top 45,000; liquor to cost more in Delhi

10.07 AM: Market rises higher

BSE Sensex rose 550 points higher to 32,238 and NSE Nifty climbed 140 points to 9,433.

9.56 AM: NSE Nifty technical outlook

As per Nifty's technical trends, the index will face hurdle around on the higher side mark which is placed around 9,900. As for the day, support is placed at around 9,240 and then at 9,100 levels, while resistance is observed at 9,550 and then at 9,740 levels.

9.48 AM: Marico gains over 2% post Q4 results

Marico share price opened with a gain of 2.32% today and later rose 6.07% to an intraday high of Rs 301.65 on BSE after the company reported its March quarterly figures.

The company reported 50% drop (YoY) in consolidated net profit to Rs 199 crore during the quarter ended March 31, 2020 as against Rs 403 crore, recorded in a year-ago period.

Total income fell 7% (YoY) to Rs 1,496 crore in the January- March quarter of the current fiscal as compared to Rs 1,609 crore in the same period last financial year.

9.40 AM: Top gainers on Nifty today

UPL, ONGC, Vedanta, Axis Bank and Zee Entertainment were the top gainers on Nifty, while there were no losers in Nifty.

9.35 AM: Most sectors in green

All the sectors opened in green, gaining 1% each today, with financials and banking rising 2% each, followed by 1.9% gain in metal and auto stocks.

9.31 AM: Why markets opened in green today

Most Asian indices turned marginally green, barring Nikkei and Kospi, as investors turned optimistic over Wall Street's closing in the green. US stocks closed higher yesterday, boosted by oil rally and technology sector, while Asian stocks rose as a number of economies move toward easing lockdowns. US Futures (Dow Jones) also traded higher at 23745, up 174 points or 0.74%.

9.22 AM: Opening bell

Benchmarks Sensex and Nifty opened on a positive note on Tuesday, backed by strong global cues. BSE Sensex rose 550 points higher to 32,238 and NSE Nifty climbed 140 points to 9,433.

9.17 AM: Stocks to watch today on May 5

Marico, Lupin, Adani Ports, Varun Beverages, SBI Life, Astec Lifesciences among others are the top stocks to watch out for in Tuesday's trading session

Stocks in news: Marico, Lupin, Adani Ports, Varun Beverages, SBI Life, Astec Lifesciences and more

9.08 AM: Pre-open session

BSE Sensex rose 450 points higher to 32,145 and NSE Nifty climbed 135 points to 9,427.

8.51 AM: Q4 Earnings

Adani Ports, Astec Lifesciences, Rallis India, NIIT Technologies, Tata Coffee, SBI Life, Varun Beverages will be reporting their March quarterly figures today.

8.46 AM: FII action on Monday

On a net basis, FIIs sold Rs 1,374 crore while DIIs also offloaded Rs 1,661.6 crore in equities on Monday's session

8.32 AM: Global cues

SGX Nifty traded 148 points higher at 9,386 level, indicating a positive start in domestic grounds today. Most Asian indices turned marginally green, barring Nikkei and Kospi, as investors turned optimistic over Wall Street's closing in the green.

US stocks ended higher on Monday on back of surge in tech and internet stocks and gain in oil prices. Although investors were cautious about the rising US-China trade war tensions over the coronavirus and downbeat sentiment from the annual meeting of Warren Buffett's Berkshire Hathaway.

8.24 AM: Rupee closing

Rupee closed at 75.71 against the last closing of 75.12 per US dollar.

8.14 AM: Coronavirus toll

India's total count of confirmed COVID-19 cases stands at 42,836, including 29,685 active cases, 11,761 cured/discharged, 1 migrated and 1,389 deaths.

Globally, there are currently 36.45 lakh confirmed cases and 2.2 lakh deaths from the coronavirus COVID-19 outbreak.

8.06 AM: Monday's closing

On Monday, Sensex closed 2,002 points or 5.94% lower at 31,175 and NSE Nifty lost 566 points or 5.74% to 9,293.

Share Market Update: Sensex ends 2,002 points lower, Nifty at 9,293; Hindalco, ICICI Bank top losers

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