Share Market Update: Equity benchmarks Sensex and Nifty gained strongly on Tuesday, backed by gains in index-heavyweights and closed 2.3% higher by the closing session. BSE 30-share S&P Sensex closed 917 points higher at 40,789 and NSE 50-share index Nifty50 climbed 271 points higher at 11,979. In terms of sector, all the indices closed in the green today. A positive opening of other Asian stocks led by gains in China too buoyed domestic benchmarks, traders said. Companies set to announce their earnings on Tuesday are Adani Ports, Adani Green, Tata Global Beverages, Bharti Airtel, TVS Motors.
Here's a look at the live updates of the stock market action on February 5:
3: 45 PM
Equity benchmarks Sensex and Nifty gained strongly on Tuesday, backed by gains in index-heavyweights and closed 2.3% higher by the closing session. BSE 30-share S&P Sensex closed 917 points higher at 40,789 and NSE 50-share index Nifty50 climbed 271 points higher at 11,979. In terms of sector, all the indices closed in the green today.
Expert opinion on market rally
3: 30 PM
Commenting on today's rally, Umesh Mehta, Head of Research, Samco Securities said, "Indian bourses tanked on Saturday after the Budget disappointed the Street's expectations. However, as the Budget failed to provide any short-term relief, the market experienced massive carnage. This was a knee jerk reaction but as investors realized that the budget will aid in the long-term growth of the economy, the market picked up. With the Budget overhang gone, investors are breathing a sigh of relief and are back to make fresh calls. Additionally, January auto sales numbers were comparatively decent and with no other negative news, the Indian bourses saw a sudden rally today."
3: 05 PM
Equity benchmarks Sensex and Nifty gained over 2.3% each on Tuesday, backed by gains in index-heavyweights, amid a China-led recovery in broader Asian markets. BSE 30-share S&P Sensex rose 914 points higher at 40,786 and NSE 50-share index Nifty50 climbed 285 points higher at 11,977.
Titan Q3 reports 15% rise in profit to Rs 474 crore
2: 50 PM
Titan has reported 15% rise (YoY) in consolidated net profit to Rs 474 crore during the quarter ended December 31, 2019 as against Rs 411 crore, recorded in a year-ago period.
Total income rose 10.37% (YoY) to Rs 6,550 crore in the October-December quarter of the current fiscal as compared to Rs 5,934 crore in the same period last financial year.
Where company's jewellery business recorded a growth of 12% in Q3 from Rs 5,605 crores this year as compared to Rs 4,997 crores last year. Its eyewear business grew by 3% in Q3, to Rs 133 crores.
The income from 'watches' segment registering a marginal decline of 2.18% to Rs 627 crores in Q3, on account of poor December month for sales, the company said. Other businesses of the company registered a growth of 33% in Q3, at Rs 174 crores.
YES Bank declines 4%
2: 15 PM
Yes Bank shares fell over 4.1% on Tuesday to Rs 34.50 after a report from IDBI Capital Markets & Securities said that the stock of the private lender is likely to be a candidate for exclusion from Nifty50.
Yes Bank shares have fallen 16% in one week and currently trades lower than 5, 20, 50, 100 and 200-day moving averages.
Banking shares rise in trade
1: 55 PM
Banking stocks were trading higher on Tuesday, primarily led by gains in ICICI Bank, HDFC Bank and SBI. On Tuesday, S&P BSE Bankex gained 751 points or 2.19% intraday to 35,201, the second trading day after the presentation of the union budget.
Bajaj Auto declines 3%
1: 20 PM
Shares of Bajaj Auto fell on Tuesday after the leading automobile manufacturer reported 3.1% decline in total sales at 3,94,473 units in January 2020. The company had recorded sales of 4,07,150 units in January 2019.
RIL gains 3%
12: 45 PM
Shares of Reliance Industries gained in early trade on Tuesday after the oil conglomerate announced new production from KG D6 project will start by mid-2020. The first-gas from these fields is expected in mid-2020, while the peak production is expected to reach 1 BCFe per day, which is about 15 per cent of then envisaged India's demand, said the company.
Following the update, RIL shares touched an intraday high of Rs 1,423.5 on BSE, rising 3.16% as against the previous close of Rs 1,385.85.
11: 45 AM
The rupee appreciated 17 paise to 71.20 against the US dollar in morning session.
Bharti Airtel to post Q3 result today
11: 10 AM
Bharti Airtel Q3 FY20 net loss seen at Rs 615 crore. Company's revenues is expected to grow 9% YoY at Rs 2,2115 crore. EBITDA is expected to see 44% YoY rise to Rs 8,920 crore. Net loss for the quarter may come in at Rs 615 crore as compared to Rs 1,041 crore a year ago.
Titan Company Q3 to be out today;here's what to expect
11: 05 AM
Revenue of the watch maker is expected to grow 8% YoY to Rs 6,351 crore. EBITDA for the quarter under revies is likely to register 17% growth YoY to Rs 690 crore. Company Ptofit after tax (PAT) for the October-December quarter may increase 13% YoY to Rs 461 crore.
Bajaj Auto gains 3%
10: 55 AM
Shares of motorcycle maker Bajaj Auto were trading as the top losers on Tuesday, falling about 1%, after its January sales fell 3%.
RBI MPC meet begins today
10: 40 AM
Central bank's six member monetary policy committee (MPC) will kick off its three-day meet on Tuesday. Investors will also keep an eye on the Reserve Bank of India's decision on whether the panel cuts rates again after keeping status quo in the previous policy.
Q3 Earnings Today
10: 25 AM
Adani Green, Adani Ports and Special Economic Zone, Piramal Enterprises, Apollo Pipes, Avanti Feeds, Bajaj Electricals, Balmer Lawrie & Co, Bharti Airtel, CSB Bank, Dhanlaxmi Bank, Exide Industries, Future Market Networks, Firstsource Solutions, Punjab National Bank, Jindal Saw, JSW Energy, Liberty Shoes, Mahindra Logistics, Mangalore Chemicals & Fertilizers, TVS Motor Company, Triveni Engineering & Industries, Titan Company, Thermax, Tata Global Beverages, Shipping Corporation of India, Sayaji Industries are the companies that will release their December quarter results today.
10: 20 AM
Equity benchmarks Sensex and Nifty gained further momentum after Monday's rally and climbed over 1.4% each by the first hour of session of Tuesday, tracking a China-led recovery in broader Asian markets
Gainers and Losers
10: 15 AM
HDFC, Reliance Industries, UltraTech Cement, Hero MotoCorp, ITC, IndusInd Bank and HDFC Bank were among the top gainers of today. On the other hand, Bajaj Auto, HUL, Nestle India and Asian Paints were trading in the red.
Market benchmark Sensex surged over 400 points in morning session on Tuesday led by gains in index-heavyweights Reliance Industries, HDFC twins and ITC amid firm global cues.
9: 50 AMAccording to analysts, equity market is finding some ground in Monday's after a disappointing Union Budget. Further, positive opening of other Asian stocks too buoyed domestic benchmarks, traders said.
FII/ DII action on Monday
9: 40 AM
On a net basis, foreign institutional investors sold equities worth Rs 1,200.27 crore, while domestic institutional investors purchased shares worth Rs 1,286.63 crore on Monday, data available with stock exchanges showed.
9: 20 AM
Equity benchmarks Sensex and Nifty gained further momentum after Monday's rally and climbed over 1% each by th efirst hour of session. BSE 30-share S&P Sensex rose 500 points higher at 40,353 and NSE 50-share index Nifty50 clmbed 150 points higher at 11,848. In terms of sector, all the indices traded in green, except realty that traded flat.
Global Market Update
A positive opening of stocks in China too buoyed other benchmarks, traders said. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1% led by gains in South Korea and Australia. Japan's Nikkei inched up 0.1%. Bourses in Shanghai, Hong Kong were also trading with gains.
Stocks to watch today on February 4
8: 50 AM
Adani Ports, Adani Green, Tata Global Beverages, Bharti Airtel, TVS Motor, PNB among others are the top stocks to watch out for in Tuesday's trading session.
8: 45 PM
After a major selloff on Saturday, equity benchmarks Sensex and Nifty traded positive on back of profit booking on Monday and closed strongly bullish, amid high buying by investors in media, auto, realty and metal scrips. Ending a volatile trading session, BSE 30-share S&P Sensex closed 136 points higher at 39,872 and NSE 50-share index Nifty50 closed 65 points higher at 11,724. In terms of sector, except IT, pharma and PSU banking stocks, all the other indices closed in green.