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Share Market Update: Sensex ends 232 points higher, Nifty at 9,270; HDFC Bank, Bajaj Finance top performers

Sensex, Nifty Live News Today: Bharti Airtel, ONGC, NTPC, Reliance Industries and Tata Steel were among the gainers in the Sensex pack. On the other hand, ITC, Axis Bank, Titan, Bajaj Auto, Maruti, M&M, L&T and IndusInd Bank were among the was the top losers.

twitter-logoBusinessToday.In | May 6, 2020 | Updated 15:54 IST
Share Market Update: Sensex ends 232 points higher, Nifty at 9,270; HDFC Bank, Bajaj Finance top performers
Here's a look at the updates of the market action on BSE and NSE today

Sensex, Nifty Updates: Benchmarks Sensex and Nifty reversed fom losses in Wednesday's trade and closed higher, tracking the bullish trend from overseas. Sensex closed 232 points higher at 31,685 and Nifty climbed 65 points to 9,270. Globally indices turned green as investors turned optimistic over prospects of eased lockdowns in some countries.

European indices were trading marginally lower on Wednesday's opening, as investors turned cautious eyeing developments over economies lifting lockdown restrictions.According to traders, economic uncertainty due to the COVID-19 pandemic, muted corporate earnings and weak marcoeconomic data are keeping investors cautious. Meanwhile, bourses in Shanghai, Hong Kong, Singapore and Seoul were trading higher, while those in Japan's Nikkei was closed for a holiday. SGX Nifty traded 130 points higher at 9,313.

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

3.45 PM: Closing bell

Benchmarks Sensex and Nifty reversed fom losses in Wednesday's trade and closed higher, tracking the bullish trend from overseas. Sensex closed 232 points higher at 31,685 and Nifty climbed 65 points to 9,270.

3. 35 PM: Eicher Motors share price gains almost 3%

Eicher Motors share price touched an intraday high of Rs 14168, rising 2.79% on BSE after the company said that its 120 dealerships have begun partial operations. The filing added that company resumed operations at its manufacturing facilities starting May 6.

3. 30 PM: Oil back in red

Oil prices reversed trend and fell on Wednesday on back of higher than expected rise in US inventories of 8.4 million barrels last week. Earlier in the day, oil prices were gaining over news that many European and Asian countries were easing lockdown restrictions. Brent crude futures dipped 0.7%, to trade $30.77 a barrel, ending a six-day rise. Earlier the futures were trading at $31.15 per barrel, up 0.58%.

Coronavirus impact: Oil prices tumble over supply concerns

3. 23 PM: Maruti Suzuki share price rise 3.5%

Maruti Suzuki share price touched an intraday high of Rs 5000, rising 3.48% on BSE after the company informed the exchanges that it has put in place a comprehensive standard operating procedure (SoP) for its dealerships across the country.

"After the implementation of these SoPs and based on approvals from State Governments, Maruti Suzuki dealerships have started to open and deliver the cars to waiting customers," the auto major said in a filing to the Bombay Stock Exchange on Wednesday.

Coronavirus outbreak: Maruti rolls out new hygiene, safety norms for showrooms

3.14 PM: Rupee closes at 75.75

Rupee closed at 75.75 per dollar on WEdnesday as against the last closing of 75.62 per dollar.

3. 05 PM: TCI Developers share price jumps 20% post Q4 results

TCI Developers share price touched an intraday high of Rs 306.35, rising 20% on BSE, after company reported its March quarterly results today.

The company reported 42% fall (YoY) in consolidated net profit to Rs 0.36 crore during the quarter ended March 31, 2020 as against Rs 0.636 crore, recorded in a year-ago period.

Its total income fell 5% (YoY) to Rs 2.47 crore in the January-March quarter of the current fiscal as compared to Rs 7.5 crore in the same period last financial year.

2. 55 PM: Dr Reddy rises in trade

The share price of Dr Reddy's Laboratories gained in trade to the intraday high of Rs 3879 on BSE after the company announced the launch of Desmopressin Acetate Injection USP, 4 mcg/mL in the US market.

2.44 PM: Larsen & Toubro share price falls 2.2%

Larsen & Toubro share price touched an intraday low of Rs 818.1, falling 2.28% on BSE after the company said has today issued and allotted 14,500 7.25% rated listed unsecured redeemable non-convertible debentures of Rs. 10 lakh each aggregating to Rs. 1450 crore which will mature on May 6, 2024. The said debentures are proposed to be listed on BSE, company's filing added.

Larsen & Toubro is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages

2. 36 PM: Adani Enterprises share price falls 4%

Adani Enterprises share price fell 3.99% to an intraday low of Rs 127.4 on BSE, after company reported its March quarterly results today.

The company reported 78% fall (YoY) in consolidated net profit to Rs 61 crore during the quarter ended March 31, 2020 as against Rs 283crore, recorded in a year-ago period.

Its total income rose 1.67% (YoY) to Rs 13,698 crore in the January-March quarter of the current fiscal as compared to Rs 13,472 crore in the same period last financial year.

2. 20 PM: JM Financial share price gains 13%

JM Financial share price climbed 13.31% to an intraday high of Rs 64.7 on BSE, ahead of company's quarterly results scheduled to be released today.

2.08 PM: European markets edge lower

European indices were trading marginally lower on Wednesday's opening, as investors turned cautious eyeing developments over economies lifting lockdown restrictions.Where FTSE traded in green, CAC and DAX declined 0.05% each.

2.03 PM: Market update

Benchmarks Sensex and Nifty pared earlier gains, although traded on the positive territory on Wednesday, tracking the bullish trend from overseas. Sensex rose 270 points higher at 31,730 and Nifty climbed 81 points to 9,287. Yesterday, Sensex ended 261 points lower at 31,453 and Nifty fell 87 points to end at 9,205.

1.55 PM: United Spirits share price falls 3.5%

United Spirits share price touched an intraday low of Rs 478.85, falling 3.52% on BSE after the company said it has resumed operations at majority of its manufacturing facilities with reduced capacity.

We are expecting to receive few more permissions in the next few days, the filing added. Company said that only the essential staff is permitted to work at its offices observing social distancing and all prescribed safety measures.

United Spirits share price is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

1.44 PM: SBI Cards And Payment Services shares rise 3%

SBI Cards And Payment Services share price climbed 3% intraday to Rs 561.90 on BSE after the company announced that its board plans to consider Q4, FY2020 results, interim dividend on May 8, 2020.

1.29 PM: Astec Lifesciences share price locks 20% post Q4 results

The share price of Astec Lifesciences rose 20% intraday to Rs 519.75 on BSE after the compnay reported quarterly figures. The company reported 145% rise (YoY) in consolidated net profit to Rs 31 crore during the quarter ended March 31, 2020 as against Rs 12.71 crore, recorded in a year-ago period.

Its total income rose 33% (YoY) to Rs 185 crore in the January-March quarter of the current fiscal as compared to Rs 139 crore in the same period last financial year.

Company board has approved a dividend of Rs 1.50 per share.

1.04 PM: Coronavirus toll

Globally, there are currently 37.27 lakh confirmed cases and 2.5 lakh deaths from the coronavirus COVID-19 outbreak.

In India, countrywide coronavirus tally has climbed to 49,391, while the death toll COVID-19 rose to 1,694 with around 190 more fatalities.

Coronavirus Lockdown India Live Updates: Total COVID-19 cases near 50,000; states open liquor, wine shops

12. 58 PM: Rallis India share price falls 8% post Q4 results

Rallis India share price opened with a loss of 7.13% and later fell 7.91% to an intraday low of Rs 205.95 on BSE after reporting its qaurterly numbers.

The company reported 57% fall (YoY) in consolidated net profit to Rs 0.65 crore during the quarter ended March 31, 2020 as against Rs 1.5 crore, recorded in a year-ago period.

Its total income rose 1.5% (YoY) to Rs 355 crore in the January-March quarter of the current fiscal as compared to Rs 350 crore in the same period last financial year.

Company board has approved dividend of Rs 2.5 per share for 2019-20.

12. 42 PM: Bharat Dynamics share price gains 2%

Bharat Dynamics shares touched an intraday high of Rs 218.6, rising 2.08% on BSE after the company said it recived an order of Rs 293.3 crore for supply of MRSAM Missile Sections for Indian Air Force deliverables. The order has to be executed in next 24 months.

12. 33 PM: Brent crude at 30/bbl

Brent crude futures were trading 0.36 per cent lower at USD 30.86 per barrel.

12.14 PM: Nifty outlook

Expressing views over the Nifty near term teachnical oulook, Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) said, "Bears have put up a sturdy wall around 9400-9450. Before this, the intraday resistance can be seen at 9300-9350. On the downside, we have now reached crucial support zone at 9200."

12.09 PM: Latest announcements on result declaration

Reliance Power, Reliance Infrastructure, Reliance Capital: May 8, 2020

Valiant Organics: May 8, 2020

Mahindra Holidays & Resorts India: May 9, 2020

Havells India: May 12, 2020

Manappuram Finance: May 14, 2020

Mahindra & Mahindra Financial Services: May 15, 2020

Maharashtra Scooters: May 18, 2020

Bajaj Finance: May 19, 2020

Bajaj Auto: May 20, 2020

Bajaj Finserv: May 21, 2020

12.00 PM: Top gainers and losers on Sensex

Bharti Airtel, ONGC, NTPC, Reliance Industries and Tata Steel were among the gainers in the Sensex pack. On the other hand, ITC, Axis Bank, Titan, Bajaj Auto, Maruti, M&M, L&T and IndusInd Bank were among the was the top losers.

11.56 AM: Rupee stable after RBI's intervention in NDF market

The recent intervention by the Reserve Bank of India (RBI) in the non-deliverable forward (NDF) market is expected to provide some stability to the rupee amid capital flight to safe assets during coronavirus crisis, analysts said.

The RBI sold $500 million in the NDF market in March to maintain stability of the rupee, the RBI data showed.

According to Bloomberg data, the rupee lost over 4 per cent to the US dollar in March as against a 0.5 per cent gain in April. The rupee was the fifth top performing currency in the Asian market last month.

How RBI's intervention in overseas currency derivatives market will impact rupee

11.49 AM: Market Update

Benchmarks Sensex and Nifty pared earlier losses and were trading on the positive territory on Wednesday, tracking the general positive trend overseas. Sensex rose 401 points higher at 31,855 and Nifty climbed 112 points to 9,317. The rally in global indices was backed by US stocks that surged on surge in oil prices and news that a number of economies move toward easing lockdowns. Meanwhile, bourses in Shanghai, Hong Kong, Singapore and Seoul were trading higher, while those in Japan's Nikkei was closed for a holiday.

11. 32 AM: Rupee opens lower

Rupee the local unit opened weak at 75.77 at the interbank forex market as aagainst the earlier closing of 75.63 per US dollar on Tuesday. The local currency slipped 18 paise further to 75.81 per dollar today amid strengthening American currency overseas and sustained foreign fund outflows.

Rupee vs Dollar: Rupee slips 18 paise to 75.81 amid weak dollar, fund outflows

11.22 AM: Alembic Pharma share price gains over 3%

Alembic Pharma share price gained over 3.76% to the day's high at Rs 758 on BSE today after the announement that Aleor Derma, a JV between Alembic Pharma & Orbicular Pharma has received its Establishment Inspection Report from USFDA for the inspection that carried out from January 6-8, 2020 at Karakhadi, Gujarat, India unit.

11.16 AM: NIIT Technologies share price gains over 11% post Q4 results

NIIT Technologies share price opened with a gain of 3.75% today and later rose 11.84% to the intraday high of Rs 1329.2 on BSE after the company reported its March quarterly numbers. The stock has risen 12.06% in the last 2 days. The company reported 7.68 % rise (YoY) in consolidated net profit to Rs 113.6 crore during the quarter ended March 31, 2020 as against Rs 105.5 crore, recorded in a year-ago period.

Its total income rose 15.51% (YoY) to Rs 1,131 crore in the January-March quarter of the current fiscal as compared to Rs 979 crore in the same period last financial year. Company board has declared a third interim dividend of Rs 11 per share. Company also plans to change its name as Coforge Limited.

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

NIIT Technologies share price gains 16% on strong March quarter earnings

11.07 AM: India's April services PMI

India's services PMI for the month of April came in at 5.4 Vs 49.3 (MoM), recording its largest month-to-month contractions in biz activity and new orders since data collection began over 14 years ago in April.

This was on back of a reduction in output, highlighting the widespread impact of the COVID-19 pandemic and the resulting lockdown leading businesses to shut down their operations as demand collapsed, suggested experts and surveys.

10. 56 AM: Adani Ports share price gains 4% post Q4 results

Adani Ports share price rose 3.91% touched an intraday high of Rs 273.45 on BSE after the company reported its March quarterly results. The company reported 74 % drop (YoY) in consolidated net profit to Rs 334 crore during the quarter ended March 31, 2020 as against Rs 1,285 crore, recorded in a year-ago period. Its total income fell 5% (YoY) to Rs 2,921 crore in the January-March quarter of the current fiscal as compared to Rs 3,083 crore in the same period last financial year.

10. 40 AM: Market rises further

Benchmarks Sensex and Nifty turned volatile and traded on a bullish note on Wednesday, tracking the general positive trend overseas. Sensex rose 160 points higher at 31,614 and Nifty climbed 46 points to 9,252.

10.23 AM: YES Bank share price down 5% ahead of results

YES Bank shares were trading lower ahead of March earnings today.

YES Bank stock touched an intraday low of Rs 25.2, falling 5.26% on BSE. YES Bank stock price has fallen 9.09% in the last 4 days of traded.

Yes Bank stock price is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

YES Bank share price falls over 5% ahead of Q4 earnings

10. 14 AM: Global cues

US stocks closed higher despite a late-day swoon outweighed cautionary comments from Federal Reserve officials. This was on back of rally in healthcare stocks,  surge in oil prices and news that a number of economies move toward easing lockdowns. Asian stocks were trading higher, barring Set Composite, SGX Nifty and Nikkei that fell to red territory.

10.09 AM: Market turns green

Benchmarks Sensex and Nifty turned volatile and traded on a bullish note on Wednesday, tracking the general positive trend overseas. Sensex rose 160 points higher at 31,614 and Nifty climbed 46 points to 9,252.

9. 57 AM: Tata Coffee share price rises 3.2%

Shares of Tata Coffee rose 3.2% intraday to Rs 80.10 on BSE, after the company posted its March quarterly results. As per company's annual statements, company reported 6% drop (YoY) in consolidated net profit to Rs 9.8 crore during the quarter ended March 31, 2020 as against Rs 10.49 crore, recorded in a year-ago period. Its total income rose 12% (YoY) to Rs 523 crore in the January-March quarter of the current fiscal as compared to Rs 464 crore in the same period last financial year.

9.48 AM: Oil stocks top losers

Oil stocks such as BPCL, IOC, Asian Paints were among the top losers in trade today, falling in the range of 8-1%, due to rise in oil prices. Where Hind Petroleum was down 8.4315, BPCL was falling 5.4%, followed by 4.5% drop in IOC. 

Oil continued its surge on Wednesday's trade, with commodity investors optimistic that more economies are moving toward easing their coronavirus lockdowns. Brent Crude Futures traded at $31.15 per barrel, up 0.58% overseas today.

BPCL, Indian Oil, HPCL stocks fall up to 13% after excise duty hike on petrol, diesel

9.42 AM: Market Update

SGX Nifty also fell in red, trading 35.50 points lower at 9,147.

Traders said investor sentiments remain fragile amid concerns over the rising number of COVID-19 cases in the country and the economic fallout of the nationwide lockdown. Traders said investors are also trading cautiously ahead of March quarterly earnings. YES Bank, Adani Enterprises, JM Financial, Kansai Nerolac Paints, TCI Developers, DG Content will be reporting their quarterly results today.

9.27 AM: Opening bell

Sensex and Nifty gave up all gains and opened lower on Wednesday.Bucking the general positive trend overseas, Sensex fell 230 points lower at 31,216 and Nifty declined 69 points to 9,125.

9.12 AM: Stocks to watch today on May 6

Adani Ports, Tata Coffee, Astec Lifesciences, Rallis, YES Bank, Persistent Systems among others are the top stocks to watch out for in Wednesday's trading session

Stocks in news: Adani Ports, Tata Coffee, Astec Lifesciences, Rallis, YES Bank, Persistent Systems and more

9.05 AM: Pre-open session

Market has pre-opened on a higher note on Wednesday, tracking bullish trend from overseas.

8. 50 AM: Global cues

US indices closed in green, on back of healthcare stocks rallied, surge in oil prices and news that a number of economies move toward easing lockdowns. The Dow Jones Industrial Average rose 0.56%, the S&P 500 gained 0.90% and the Nasdaq Composite added 1.13%.

President Donald Trump announcing that the country has managed to flatten the infection curve and that they are now in the next stage of fighting the deadly virus also added to positive sentiments.

Asian counterparts, barring Nikkei, followed overseas cues and trade marginally higher. SGX Nifty was rising 25 points to 9,226.

8. 45 AM: Q4 earnings today

Investors are trading cautiously ahead of March quarterly earnings. YES Bank, Adani Enterprises, JM Financial, Kansai Nerolac Paints, TCI Developers, DG Content will be reporting their quarterly results today.

8.40 AM: Coronavirus toll

Globally, there are currently 37.27 lakh confirmed cases and 2.5 lakh deaths from the coronavirus COVID-19 outbreak. In India, countrywide coronavirus tally was closer to the 50,000-mark, while the death toll cross 1,500 with around 190 more fatalities.

8. 35 AM: Rupee

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

8. 30 AM: Tuesday's closing

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.

Sensex falls 261 points, Nifty ends at 9,205; SBI, Bajaj Finance, Asian Paints top losers

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