Sensex, Nifty Updates: Sensex and Nifty closed on a bullish note on Tuesday, in line with the trend overseas amid foreign fund inflows. Sensex ended 519 points higher to 35,430 and Nifty climbed 159 points higher to 10,471. On Monday, Sensex closed 179 points higher to 34,911 and Nifty ended 66 points higher to 10,311. Companies set to announce their earnings are Berger Paints, Asian Paints, Balrampur Chini, Bank of Baroda, DB Corp, Page Industries among others.
Here's a look at the updates of the market action on BSE and NSE today
4.00 PM: Expert outlook
Expressing views on Nifty's near term outlook, Ruchit Jain, Senior Analyst - Technical and Derivatives, Angel Broking said,"The index has been forming a 'Higher Top Higher Bottom' structure and the broader markets have done considerably well in last few sessions. The upmove in index supported by a broader market participation is certainly an encouraging sign and hence, we have been optimistic on the market and have been advising to use dips as buying opportunity. The intraday supports for Nifty are placed around 10390 and 10300 whereas resistance is seen in the range of 10550-10600."
3.45 PM: Closing bell
Sensex and Nifty closed on a bullish note on Tuesday, in line with the trend overseas amid foreign fund inflows. Sensex ended 519 points higher to 35,430 and Nifty climbed 159 points higher to 10,471.
3.20 PM: Expert outlook
Commenting on market's trend today, Vinod Nair, Head of Research at Geojit Financial Services said,"The Indian indices traded positive, in sync with global indices, seemingly on the back of continued liquidity flows into the markets. The gains were spread across sectors and market caps, with even the IT index overcoming its losses, due to the proposed change in H-1B visa rules. Markets were also optimistic on the back of news of a de-escalation in border hostilities and the pace of Covid-19 recoveries increasing, in spite of the new virus infections. Investors advised to remain cautious and keep booking profits."
3.00 PM: Indian Bank share price rose 13.29%
The company reported a loss of Rs 217 crore for the quarter ended March 2020 compared to a loss of Rs 190 crore during the previous quarter ended March 2019. Its Net Interest Income gained 13.6% to Rs 2,002 crore in Q4 FY20 against Rs 1,763 crore YoY in Q4 FY19.
Indian Bank share price opened with a gain of 2.87% and later touched an intraday high of Rs 72.9, rising 13.29% on BSE today.
2.47 PM: Bajaj Finance stock gains 51% in June
Bajaj Finance has surpassed country's largest lender State Bank of India (SBI) in terms of market capitalisation. On BSE, market cap of SBI stood at Rs 1.69 lakh crore in early trade lower than the market cap of Bajaj Finance which rose to Rs 1.75 lakh crore today. The rise in market cap of Bajaj Finance comes after the large cap stock rose up to 3.74% to Rs 2,948 against previous close of Rs 2,841.85 on BSE.
The stock which is the sole representative of NBFC sector on Sensex has gained 23% in last six sessions. It opened with a gain of 2.05% today.
2.35 PM: Expert outlook
Geojit Financial in its daily report said, "A pull back can be anticipated to 10285-10244 before upswings resumes to 10570. Alternatively, a direct fall below 10185 will be a bear call"
2.29 PM: Tata Communications share price
Tata Communications share price has delivered 205% returns in last three months. Share price of Tata Group firm which stood at Rs 200 on March 19, 2020 rose to Rs 606 on June 22, tripling wealth of investors during the period.
An investment of Rs 1 lakh in this stock on March 19 would have turned to Rs 3.03 lakh on June 22.The stock fell to its 52-week low of Rs 200 on March 19 after rising coronavirus cases dampened market sentiment across the globe.
However, the stock of the global telecommunications firm soon charted a recovery path with a rebound in global and domestic equities. It took merely 13 sessions for the stock to reclaim the Rs 300 mark.
2. 18 PM: Rupee ends stronger
Rupee ended at 75.65 per dollar as against the previous closing of 76.02 per dollar.
2.01PM: Asian Paints up 2%
Share price of Asian Paints gained nearly 2% ahead of the firm's Q4 earnings set to be announced later in the day. Asian Paints share price rose up to 1.93% to Rs 1,685 against previous close of Rs 1653 on BSE.
Asian Paints share is trading higher than 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages. The large cap stock has gained 5.23% in four sessions. Market cap of the firm rose to Rs 1.61 lakh crore.
1. 50 PM: NTPC share price gained 4.99%
NTPC share price gained 4.99% today after Fitch Ratings revised it's outlook to 'negative' from 'stable' and affirmed rating at 'BBB-'. NTPC share price trades higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.
Stock has been gaining for the last 4 days and has risen 7.98% returns in the period
1. 43 PM: Nifty outlook
As per Reliance Smartmoney Research, bullish view will remain intact on the index NSE-NIFTY as its key technical indicators are also positively poised. This could lead the index towards 10,500 and 10,800 levels. However, due to an indecisive formation on the daily chart, near-term consolidation cannot be ruled out before the index surpasses 10,500 mark convincingly. In case of any decline, the index will initially find support at around its 100-day SMA and then at around 50-day EMA, which are now placed at 10,075 and 9,730 levels, respectively.
As for the day, support is placed at around 10,180 and then at 10,075 levels, while resistance is observed at 10,400 and then at 10,470 levels.
1.34 PM: Page Industries Q4FY20 results today
Page Industries share price touched an intraday low of Rs 18915.6, falling 2.35% on BSE.
As per HDFC Securities, Page Industries' profit after tax is expected to fall by 35% y-o-y to Rs 48.75 crore, while its revenue is expected to be decline to Rs 571.52 crore, dowm 6% y-o-y. EBIDTA is expected to fall by 35% y-o-y to Rs 78 crore. EBIDTA Margin% are likely to fall by 635 bps to 13.65%.
1.21 PM: NDTV shares rise 5% on better than estimates Q4 earnings
NDTV share price was trading 5% higher on Tuesday's opening bell, after the media company posted better than street estimates quarterly results for March 2020.
The media firm reported a 30.19% decline in its consolidated net profit at Rs 9.20 crore for the quarter ended March 2020 as against a net profit of Rs 13.18 crore during the corresponding quarter of the previous financial year. The stock price has risen 12% in one week and 57% year-to-date.
1.00 PM: Nifty outlook
HDFC Securities in its daily market report said,"Technically, the Nifty has formed a doji after a three-day rise suggesting pause and possibly a minor reversal from here. On upmoves, 10394-10458 could offer resistance while 10167-10244 could offer support."
12.45 PM: Rupee gains 16 paise higher
The rupee appreciated 16 paise to 75.87 per dollar on Tuesday amid sustained foreign fund inflows and rising domestic equity market.
Lower crude prices also helped the local unit to strengthen its ground, boosting investor confidence.
The rupee opened strong at 75.86 against the US dollar. However, it soon edged marginally lower to 75.87 per dollar, rising 16 paise over its previous close of 76.03 against the greenback on Monday.
12.31 PM: GM Breweries share price rises over 4% post results
GM Breweries share price touched an intraday high of Rs 435.05, rising 4.03% on BSE today
Company reported 27% drop in its net profit on a yearly basis to Rs 17.8 crore as compared to profit of Rs 24.3 crore. Company's revenue dropped 7.1% to Rs 109 crore as Rs 117.4 YoY.
12.15 PM: Balaji Amines share price rises over 8%
Balaji Amines share price opened with a gain of 4.87% today and touched an intraday high of Rs 484, rising 8.47% on BSE today. Company's profit came in at Rs 30.81 crore in Q4FY20 as against Rs 26.45 crore in Q4FY19. Company's revenue stood at Rs 258 crore as against Rs 226.62 crore YoY.
12.10 PM: Market update
Sensex and Nifty traded on a bullish note on Tuesday, in line with the trend overseas amid foreign fund inflows. Sensex rose 200 points higher to 35,120 and Nifty climbed 70 points higher to 10,381.
12.00 PM: Infosys, HCL Tech, TCS shares fall most
Share price of IT firms Infosys, TCS, Tech Mahindra and HCL Tech were the top Sensex losers today after US temporarily suspended employment-based visas. Trump administration has suspended and limited the entry into the US of H-1B, H-2B, and L visa-holders and their dependents till December 31, 2020.
Infosys share price lost over 1% to Rs 692.30 against previous close of Rs 703.65. Share price of HCL Tech fell nearly 1% to Rs 563.65 against previous close of Rs 569.55 on BSE.
11. 30 AM: Morepen Laboratories shares drop over 5% post results
Morepen Laboratories shares erased early gains and fell over 5% to Rs 29.80, its day's low on BSE. The company reported a 5.05% rise in its consolidated net profit to Rs 11.02 crore for the quarter ended March as against Rs 10.5 crore in a year ago period. Its revenue declined 5.5% to Rs 218 YoY.
11.00 AM: Khaitan Chemicals & Fertilizers shares rise 20% post results
Khaitan Chemicals & Fertilizers shares opened with a gain of 19.96% today to the day's high at Rs 11.9 on BSE. The company's profit stood at Rs 5.97 crore in Q4 FY20 as against Rs 0.41 crore in Q4FY19. Its revenue came in at Rs 95.37 crore as against Rs 88.22 crore YoY.
10. 45 AM: Global cues
Asian shares were mostly higher on Tuesday, recovering from some early losses. Wall Street too closed higher after initial fall. Overseas, markets were rising with caution as the global tally of coronavirus infections surpassed 9 million.
10.34 AM: Top gainers and losers
IndusInd Bank, Bajaj Finance, PowerGrid, NTPC, Nestle India, Titan and Bajaj Auto were among the top gainers today. On the other hand, TCS, Asian Paints, M&M and Infosys were among the laggards.
10. 20 AM: Sudarshan Chemicals share price erases gains
Sudarshan Chemicals erased 2% gains from morning session and dropped 2.8% toan intraday low of Rs 404.5 on BSE. The company reported 5.8% rise in net profit to Rs 27 crore as against Rs 25.28 crore in a year ago period. Company's revenue came in at Rs 449 as against Rs 429 crore YoY.
10.00 AM: Dhanlaxmi Bank share price trades lower today
Dhanlaxmi Bank share price erased early gains and traded 2.5% lower at Rs 15.53, its day's low.The lender reported 90% drop in its net profit on a yearly basis to Rs 2.6 crore as compared to profit of Rs 27.6 crore. Company's net interest margin dropped 1.7%. Its Gross NPA came in at 5.90% versus 7.13% and net NPA at 1.55% Vs 1.62% on a sequential basis.
9. 44 AM: Bharti Airtel share price marginally low
Bharti Airtel share price traded marginally lower at the day's low of Rs 574 on BSE after the firm said Fitch Ratings revised its outlook on telecom's long-term foreign-currency (FC) issuer default rating (IDR) to negative from stable, and affirmed the IDR at 'BBB-'.
9.32 AM: IT stocks in red
Infosys, Wipro were trading as top losers on both bourses, BSE and NSE as United States President Donald Trump has issued a proclamation to suspend issuing of H-1B visas. Trump's announcement has come as a shock for a large number of Indian IT professionals and several Indian as well as US firms who were issued H-1B visa for the fiscal year 2021 beginning October 1.
Trump administration has suspended and limited the entry into the US of H-1B, H-2B, and L visa-holders and their dependents till December 31, 2020.
9. 20 AM: Opening bell
Sensex and Nifty opened on a bullish note on Tuesday, in line with the trend overseas amid foreign fund inflows. Sensex opened 100 points higher to 35,015 and Nifty climbed 36 points higher to 10,347.
9. 13 AM: Stocks to watch today on June 23
Bharti Airtel, RIL, ONGC, Dhanlaxmi Bank, Morepen Labs, Sudarshan Chem, Khaitan Chemicals among others are the top stocks to watch out for in Tuesday's trading session.
9.07 AM: Earnings Today
Asian Paints, Bank of Baroda, Union Bank of India, Berger Paints, Aster DM Healthcare, DB Corp, GM Breweries, GMDC, Hatsun Agro Product, Indian Bank, Kolte-Patil Developers, Man Industries, NLC India, Page Industries, Phillips Carbon Black, Ador Welding, Asahi Songwon Colors, Balrampur Chini Mills, EIH Associated Hotels, Finolex Industries, Precision Camshafts, Surana Telecom, Talbros Engineering, Vardhman Textiles among others will be reporting Q4 results today.
8.50 AM: FII/ DII action
On a net basis, FIIs bought Rs 424.21 crore while DIIs sold Rs 1,287.69 crore worth in equities on Monday
8. 40 AM: Rupee Closing
Rupee, the local unit ended at 76.03 per dollar, as against its previous closing of 76.18 per dollar on Monday
8. 30 AM: Last Closing
On Monday, Sensex closed 179 points higher to 34,911 and Nifty ended 66 points higher to 10,311.