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Share Market Update: Sensex ends 199 points higher, Nifty at 9,251; HUL, Sun Pharma, Dr Reddy top gainers

Sensex, Nifty Live News Today: SBI Cards and Payment Services, Adani Gas, Shree Cement, Procter & Gamble Hygiene & Health Care, Reliance Power, Reliance Infrastructure, Reliance Home Finance, Reliance Capital among others will be reporting their March quarterly results today

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

Sensex, Nifty Updates: Benchmarks Sensex and Nifty closed higher on Friday, tracking bullish rally from overseas as investors shook off weak economic data and focused on upcoming earnings and stock specific action. Market indices were off day's high, closed on a bullish note on the last day of trading in the week. Reversing from losses after two straight sessions, Sensex climbed 199 points higher at 31,642 and Nifty rose 52 points to 9,251. Yesterday, Sensex closed 242 points lower at 31,443 and Nifty fell to 9,199, down 71 points. US indices turned green as investors turned optimistic over following a clutch of upbeat earnings reports and looked past the weak economic data due to lockdowns to combat the virus spread. Asian and European markets were also tracking bullish trend from overseas.

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 closed higher on Friday, tracking bullish rally from overseas as investors shook off weak economic data and focused on upcoming earnings and stock specific action. Market indices were off day's high, closed on a bullish note on the last day of trading in the week. Reversing from losses after two straight sessions, Sensex climbed 199 points higher at 31,642 and Nifty rose 52 points to 9,251.

Expressing views over the market trend today, Vinod Nair, Head of Research at Geojit Financial Services said,"Nifty fluctuated around 150 points in another day of volatile trades, tracking uncertainty in the markets. Gains were led by Reliance, which succeeded in another round of fundraising even in this adverse scenario. Global market trends were also positive following attempts to defuse tensions around the US-China trade talks. While the earnings season has been lacklustre, markets seem to be awaiting announcement of a stimulus package from the government".

3.32 PM: SBI Cards share price falls 3.66% lower post results

SBI Cards share price, that earlier opened with a gain of 2.45% fell 3.66% lower intraday to Rs 552.8 after the company reported its quarterly results. The company reported 66% drop (YoY) in consolidated net profit to Rs 83 crore during the quarter ended March 31, 2020 as against Rs 248 crore, recorded in a year-ago period. Its total income rose 20% (YoY) to Rs 2510 crore in the January-March quarter of the current fiscal as compared to Rs 2076 crore in the same period last financial year.

3.25 PM: Market update

Market indices were off day's high, although traded on a bullish note on the last day of trading in the week. Reversing from losses after two straight sessions, Sensex climbed 220 points higher at 31,661 and Nifty rose 59 points to 9,258.

3.18 PM: Lloyds Metals and Energy shares climb 10%

Lloyds Metals and Energy share price climbed 10% intraday to Rs 7.75 on BSE after the company board approved MoU for JV.

Company has entered into the MoU with Thriveni Earthmovers Private Limited (TEPL) to incorporate a new joint venture company in the state of Maharashtra for carry mining operations in Maharashtra & neighbouring states but starting with the iron ore mining operations of Lloyds Metals Energy Limited (LMEL).

3.07PM: IIFL share price falls 3.6%

IIFL Finance share price touched an intraday low of Rs 69, falling 3.63% on BSE after the company said its board has approved allotment of 1000 NCDs

2.55 PM: Result announcements

Orient Abrasives: May 11, 2020

Saurashtra Cement: May 18, 2020

2.36 PM: Adani Gas share price gains over 9% post result

Adani Gas share price opened with a gain of 2.4% today and later touched an intraday high of Rs 113.8, rising 9.27% after the company reported its March quarterly numbers. The company reported 5.2% rise (YoY) in consolidated net profit to Rs 121 crore during the quarter ended March 31, 2020 as against Rs 115 crore, recorded in a year-ago period. Its total income fell 5% (YoY) to Rs 121 crore in the January-March quarter of the current fiscal as compared to Rs 115 crore in the same period last financial year.

2.22 PM: Market Update

Market indices were off day's high, although traded on a bullish note on the last day of trading in the week today. Sensex climbed 326 points higher at 31,770 and Nifty rose 76 points to 9,275. US indices turned green as investors turned optimistic over following a clutch of upbeat earnings reports and looked past the weak economic data due to lockdowns to combat the virus spread. Asian and European markets were also tracking bullish trend from overseas.

2. 10 PM: European markets open higher

European markets opened higher today tracking the bullish rally from overseas, with FRSE, CAC and DAX each gaining over 1%.

1.51 PM: P&G Healthcare rises 1.5%.

Shares of P&G Healthcare gained 1.5% to the day's high of Rs 10313.85 on BSE after the company reported its March quarterly results.

The company reported 1.1% rise (YoY) in consolidated net profit to Rs 91 crore during the quarter ended March 31, 2020 as against Rs 90 crore, recorded in a year-ago period. Its total income fell 6% (YoY) to Rs 656 crore in the January-March quarter of the current fiscal as compared to Rs 699 crore in the same period last financial year.

1.44 PM: BASF share price declines 2%

BASF India share price fell to 1.9% to the intraday low of Rs 971 on BSE after the company said it received demand notices from Commercial Tax Department, Karnataka for commercial papers worth Rs 85 crore inclusive of penalty and interest, by treating the stock transfers of its Mangalore Plant as interstate sales to dealers.

1. 35 PM: Coronavirus toll

Globally, there are 39.17 lakh confirmed cases and 2.7 lakh deaths from the coronavirus COVID-19 outbreak. India has reported more than 3,500 cases in the last 24 hours taking the tally of total cases to 52,953, including 15,266 recoveries and 1,783 deaths.

Coronavirus India Live Updates: Maharashtra lockdown may extend to May-end, hints CM Thackeray; cases-17,974

1.22 PM: Biocon share prcie up 3%

Biocon shares touched an intraday high of Rs 360.05, rising 2.97% on BSE after the company said it has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (FDA) for the Pre-Approval and GMP inspection of its small molecules api manufacturing facility at Biocon Park SEZ, Bommansandra, Bengaluru

1.18 PM: Dr Reddy share price rises 7%

Dr Reddy share price touched an intraday high of Rs 4099.9, rising 6.93% on BSE. The company has received the Establishment Inspection Report (EIR) from US FDA, for the aAPI manufacturing plant at Srikakulam, Andhra Pradesh (CTO VI), indicating closure of the audit and the inspection classification of this facility is determined as Voluntary Action Indicated (VAI). With this, all facilities under warning letter are now determined as VAl, the filing added.

1.09 PM: RBL Bank share price gains 3.5%

RBL Bank share price touched an intraday low of Rs 124.15, falling 3.69% on BSE after the company reported its quarterly results. The company reported 49% drop (YoY) in consolidated net profit to Rs 114 crore during the quarter ended March 31, 2020 as against Rs 227 crore, recorded in a year-ago period. Its total income rose 24% (YoY) to Rs 2782 crore in the January-March quarter of the current fiscal as compared to Rs 2243 crore in the same period last financial year.

1.05 PM: ICICI Securities share price gains 13.8% post result

ICICI Securities share price opened with a gain of 13.81% today and touched an intraday high of Rs 429 after the company reported its quarterly results. The company reported 10.45% rise (YoY) in consolidated net profit to Rs 542 crore during the quarter ended March 31, 2020 as against Rs 490 crore, recorded in a year-ago period. Its total income fell 0.12% (YoY) to Rs 1724 crore in the January-March quarter of the current fiscal as compared to Rs 1727 crore in the same period last financial year. ICICI Securities board recommends final dividend of Rs 6.75 per share.

12.36 PM: Gillete shares drop 2%

Gillette share price dropped 2% intraday to the day's low of Rs 4990 on BSE after the company reported its March quarterly results. The company reported 40% drop (YoY) in consolidated net profit to Rs 45 crore during the quarter ended March 31, 2020 as against Rs 176 crore, recorded in a year-ago period. Its total income rose 2.9% (YoY) to Rs 1073 crore in the January-March quarter of the current fiscal as compared to Rs 1105 crore in the same period last financial year.

12.13 PM: SKF India share price gains 6%

SKF India share price gained 6% intraday to the high of Rs 1479.35 on BSE today after the company reported its March quarterly numbers. The company reported 8% drop (YoY) in consolidated net profit to Rs 75 crore during the quarter ended March 31, 2020 as against Rs 82 crore, recorded in a year-ago period. Its total income fell 15% (YoY) to Rs 656 crore in the January-March quarter of the current fiscal as compared to Rs 777 crore in the same period last financial year. SKF India board recommended a special dividend of Rs 130 per share.

12.03 PM: Bajaj Consumer Care shares gain 2.5%

The share price of Bajaj Consumer Care gained 2.5% intraday to the day's high of Rs 144 on BSE after the company announced that it has launched Bajaj Nomarks hand sanitizers.

11.56 PM: Cigniti Technologies share price locks lower circuit

Cigniti Technologies share price was locked at 5% lower circuit of Rs 293 after the company reported weak quarterly results yesterday. The company reported 8% drop (YoY) in consolidated net profit to Rs 75 crore during the quarter ended March 31, 2020 as against Rs 82 crore, recorded in a year-ago period. Its total income fell 15% (YoY) to Rs 656 crore in the January-March quarter of the current fiscal as compared to Rs 777 crore in the same period last financial year.

11.47 PM: Nifty's outlook

Expressing views on Nifty's near term outlook, Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) said, "We remain hopeful as long as a key support zone of 9100-8900 is not violated. On the upside, intraday resistances are seen at 9277 followed by 9350. A sustainable move beyond this would trigger a good upmove to test the sturdy wall of 9450 - 9550."

11.32 AM: Tata Motors share price gains 2.8%

Tata Motors share price gains 2.8% to the intraday high of Rs 84.85 on BSE after the company said it has decided to withdraw the Rs 1,000 crore NCD issue due to tight money market conditions. The company board plans to consider the issue once the situation returns to normal.

11.24 AM: Tata Consumer Products share price gains 2.8%

Tata Consumer Products share price gains 2.8% to the intraday high of Rs 351 on BSE after the company said it has strengthened its direct distribution model by partnering with India's most popular food delivery applications such as Domino's Pizza and Zomato.

11.15 AM: SBI Cards shares up 2% ahead of results

SBI Cards and Payment Services share price gained 2.44% to Rs 587.80 compared to the previous close of Rs 573.80 on BSE. This was ahead of its March quarterly results scheduled to be released today.

SBI Cards share price rises over 2% ahead of Q4 earnings today

11.10 AM: Oil gains today

Brent crude futures, the international oil benchmark was trading 1.29% higher at $29.84 per barrel.

11.07 AM: Top gainers/Losers

IndusInd Bank, Kotak Bank, Hindustan Unilever and Axis Bank and Reliance Industries were among the top gainers on Sensex today.

On the other hand, PowerGird, HCL Tech, Asian Paints and NTPC were among the top losers.

10. 45 AM: Cyient share price gains 8.5%

Cyient share price opened with a loss of 5.48% and later fell 8.5% to an intraday low of Rs 212 on BSE after the company reported its March quarterly numbers. The company reported 74% fall (YoY) in consolidated net profit to Rs 45 crore during the quarter ended March 31, 2020 as against Rs 176.6 crore, recorded in a year-ago period. Its total income rose 2.9% (YoY) to Rs 1073 crore in the January-March quarter of the current fiscal as compared to Rs 1105 crore in the same period last financial year.

10.35 AM: Rupee opens at 75.27 per dollar

Rupee on the interbank forex market opened 45 paise higher at 75.27 against US dollar.

Rupee vs dollar: Rupee rises 45 paise to 75.27 amid weak dollar, fund inflows

10. 30 AM: Expert oulook on gold

Anuj Gupta, DVP-Commodities & Currencies Research, Angel Broking said, "Yesterday gold prices increased almost 1.74% and closed above 46100 levels . In international market, gold is also trading on a positive note. This is due to weakness in dollar due to dovish US economic data and expectation of negative interest rates in the next year in US. Today, Gold may trade on a positive side. Traders can buy gold at 45900 levels with the stop loss of 45650, for the target of 46500 levels. In international market, Gold may test $1730 levels."

10.20 AM: Tata Motors share price gains 2.85%

Tata Motors share price opened with a gain of 2.67% today and climbed 2.85% to the intraday high of Rs 84.85 on BSE after the company said that it has decided to withdraw the Rs 1,000 cr NCD issue due to tight money market conditions. The company board plans to consider the issue once the situation returns to normal.

10: 10 AM: Positive global cues

Asian markets traded positive led by Nikkei tracking overnight gains made in US.

US markets closed in green led by tech heavy Nasdaq as investors focused on reopning of economy.

European markets had closed higher led by retail stocks as investors digested easing restriction by many EU states.

10.07 AM: Market Update

Benchmarks Sensex and Nifty rose higher on Friday, tracking bullish rally from overseas as investors shook off weak economic data and focused on upcoming earnings. Reversing from losses after two straight sessions, Sensex climbed 450 points higher at 31,892 and Nifty rose 103 points to 9,307.

9.50 AM: News Alert

- US jobless claims rose 3.17 million taking 7 week total to 33.5 million.

-Bank of Australia in its statement said that global GDP is expected to fall shaply in H1 2020.

-Bank of England kept rates at 0.1% but hints at its preparedness to fight.

9. 40 AM: RIL gains 2.83%

Shares of RIL rose in early trade today after the company  announced today that VistaEquity Partners will invest Rs 11,367 crore into Jio Platforms. This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, the filing added further.

Index heavyweight RIL's market cap touched 10 lakh crore after today's deal with Vista.

Following the update, the share price of Reliance Industries rose 2.83% to the intraday high of Rs 1550 on BSE.

Reliance Industries share gains over 4% as Vista Equity Partners to invest Rs 11,367 crore into Jio Platforms

9.31 AM: Why markets rising today

US indices turned green as investors turned optimistic over following a clutch of upbeat earnings reports and looked past the weak economic data due to lockdowns to combat the virus spread. Asian indices were also tracking bullish trend from overseas.

9.20 AM: Opening bell

Sensex and Nifty opened sharply higher today, tracking bullish rally from overseas. Reversing from losses after two straight sessions, Sensex climbed 510 points higher at 31,954 and Nifty rose 131 points to 9,340.

9.10 AM: Stock in news on May 8

SBI Cards, ICICI Securities, RBL Bank, P&G Hygiene, Gillette, Cyient, Cadila among others are the top stocks to watch out for in Friday's trading session

Stocks in news: SBI Cards, ICICI Securities, RBL Bank, P&G Hygiene, Gillette, Cyient, Cadila and more

9.00 AM: Pre-open session today

Market indices Sensex and Nifty pre-opened sharply higher today. Sensex climbed 650 points higher at 32,085 and Nifty rose to 9,442, up 244 points.

8. 50 AM: Global cues

US indices turned green as investors turned optimistic over following a clutch of upbeat earnings reports and looked past the weak economic data due to lockdowns to combat the virus spread. The Dow Jones Industrial Average climbed 0.89%, the S&P  1.15% and the Nasdaq Composite added 1.41%. Yesterday, Sensex closed 242 points lower at 31,443 and Nifty fell to 9,199, down 71 points. 

8. 45 AM: Earnings Q4

SBI Cards and Payment Services, Adani Gas, Shree Cement, Procter & Gamble Hygiene & Health Care, Reliance Power, Reliance Infrastructure, Reliance Home Finance, Reliance Capital, Valiant Organics, Uttam Galva Steels, TCI Express, Swaraj Engines, R Systems International among others will be reporting their March quarterly results today.

SKF India, HCL Technologies, Cyient, Gillette India, RBL Bank, 5paisa Capital, Cigniti Technologies, ICICI Securities, Solara Active Pharma reported their quarterly results yesterday.

8.40 AM: SGX Nifty positive today

SGX Nifty traded 95 points higher at 9,294 level, indicating a positive start in domestic grounds today.

8. 30 AM: Rupee closing on Wednesday

On Wednesday, Rupee ended 13 paise higher at 75.75 per dollar as against the last closing of 75.62 per dollar.

8. 20 AM: FII/ DII action on Thursday

FIIs bought Rs 19,056 crore and DII too bought for Rs 3,818 crore worth in equities on Thursday, taking the total net buy in the equities today to Rs 22,874.9 crore

8. 10 AM: Coronavirus toll

Globally, there are 39.17 lakh confirmed cases and 2.7 lakh deaths from the coronavirus COVID-19 outbreak. India has reported more than 3,500 cases in the last 24 hours taking the tally of total cases to 52,953, including 15,266 recoveries and 1,783 deaths.

8.00 AM: Closing bell on Thursday

Benchmarks Sensex and Nifty closed on a bearish note on Thursday, backed by weak global cues as investors globally fretted over the weak economic data and rising COVID-19 cases. Sensex closed 242 points lower at 31,443 and Nifty fell to 9,199, down 71 points.

Share Market Update: Sensex ends 242 points lower, Nifty at 9,199; BPCL, ONGC, NTPC top losers