Sensex, Nifty Updates: Equity indices Sensex and Nifty closed on a bullish note on Thursday, tracking gains in European and Asian counterparts. BSE Sensex closed 222 points higher to 30,602 and NSE Nifty rose 67 points to 8,992. UPL, HUL, Britannia, ICICI Bank and NTPC were among the top performers on Nifty, while Tech Mahindra, HCL Tech, Kotak Bank, Hero MotoCorp and Infosys were among the top losers today.
Traders said markets will continue taking cues from the worldwide trend. European indices also opened postive today, with CAC and DAX and FTSE trading above 1%. In Asian counterparts, Shanghai, SGX Nifty, Strait Times were trading 1% higher, while Kospi was flat. Nikkei was down 1.3%, with Hang Seng and Taiwan index trading marginally lower.
Here's a look at the updates of the market action on BSE and NSE today:
3.45PM : Closing bell
Equity indices Sensex and Nifty closed on a bullish note on Thursday, tracking gains in European and Asian counterparts. BSE Sensex closed 222 points higher to 30,602 and NSE Nifty rose 67 points to 8,992. UPL, HUL, Britannia, ICICI Bank and NTPC were among the top performers on Nifty, while Tech Mahindra, HCL Tech, Kotak Bank, Hero MotoCorp and Infosys were among the top losers today.
3.35PM: Bajaj Consumer Care up 3% on product launch
Bajaj Consumer Care shares climbed 3% to Rs 144 after the company said in ia press release that it has launched a hand sanitizer product.
3.30 PM : Suzlon Energy hist 5% upper ciruit
Suzlon Energy was locked on 5% upper circuit today after the company board said it plans to consider raising capital through shares, debentures, warrants etc. on April 18, 2020.
3.25 PM Endurance Technologies rises almost 3%
Endurance Technologies stock price touched an intraday high of Rs 609.95 rising 2.65% on BSE aftr the company said its Italian arm has acquired 99%stake in Adler for Euro 3.5 million.
Adler makes systems solutions for clutches, gears and friction plates with a niche in R&D, engineering services and product development for OEM customers in Europe, the filing added.
3.20 PM: Alert: Infosys to Announce Fourth Quarter and Annual Results on April 20, 2020
3.15 PM: Essel Propack
Essel Propack shares opened with a gain of 2.64% today and later climbed 8.3% to an intraday high of Rs 178.15 on BSE after the copmany said its board has appointed Sudhanshu Vats as CEO and MD of the company with effect from April.
3.10 PM : Shriram Transport Finance rises 5.5%
Shriram Transport Finance erased earlier gainsa and touched an intraday high of Rs 699.55, rising 5.42% on BSE. The company said it plans to consider raising funds through NCDs on April 20.
3.00 PM: Deepak Fertilizers and Petrochemicals climbs 4.5%
Deepak Fertilizers and Petrochemicals stock touched an intraday high of Rs 92.55, rising 4.46% on BSE after the market regulator SEBI granted the company extended time till May 15 for the conversion of warrants worth Rs 41.66 crore into equity shares made by the company promoters.
2.50 PM: Shree Cements climbs over 4%, top gainer on NSE
Shree Cements rose in the afternoon trade as the company said it is seeking necessary approvals from the relevant Government authorities for resumption of production facilities at its various locations.
The filing added that the company will resume operations at different production facilities in full compliance to the conditions of operation as have been/may be stipulated in the said permissions/approvals.
Share price of Shree Cement rose 4.4% higher to the intraday high of 18,956.4 on BSE, after falling 3.26% to the day's low of Rs 17,563.
2.45 PM: Rupee ends at record low of 76.86
Rupee ended at an all time of 76.86 against the dollar as compared to last close of 76.44 per dollar. Earlier, the local unit had opened at a record low of 76.82.
2.35 PM: Prataap Snacks soars 12%
Prataap Snacks stock price rose nearly 12% to the day's high of Rs 495 on BSE after the company stated that its job working manufacturing units in Uttarakhand, Maharashtra and Haryana have started operations.
2.25 PM: Escorts stock price falls 2%
Escorts share price fell 2% to the day's low of Rs 696.7 as the company said its factories and offices will remain shut till May 3.
2.15 PM: Eveready Industries rises over 5%
Eveready Industries share prcie climbed over 5% today after the company said its battery manufacturing facility at Karnataka has resumed operations partially.
1:55 PM: IndusInd bank rises over 4%
IndusInd Bank share price rose over 4% in early trade today after Goldman Sachs Singapore bought 41,00,000 shares of shares of the private sector lender. The transaction was worth Rs 176 crore. Share price of IndusInd Bank rose 4.17% intraday to Rs 441.8. Earlier, shares of IndusInd Bank opened flat at Rs 424.10 on BSE.
1.45 PM:Top gainers and losers on Nifty
UPL, HUL, Britannia, ICICI Bank and NTPC were among the top performers on Nifty, while Tech Mahindra, HCL Tech, Kotak Bank, Hero MotoCorp and Infosys were among the top losers today
1.25 PM: Punjab & Sind Bank gains over 11%
Punjab & Sind Bank shares gained over 11% on BSE today after the state-owned lender said it will raise up to Rs 1500 crore through equity and preferential issue of shares. The filing added that the board of directors at its meet approved to raise equity capital through qualified institutional placement (QIP) up an amount of Rs 750 crore and through preferential issue up to an amount of Rs 750 crore.
1.10 PM: Market update
Equity indices Sensex and Nifty traded 1% higher by the afternoon session on Thursday, accounting the reverse of global markets to positive territory. With the start of March quarterly earnings' season, BSE Sensex gained 350 points higher to 30,717 and NSE Nifty rose 102 points to 9,028.
1.00 PM: Navin Fluorine shares climb 5%
Navin Fluorine shares opened with a gain of 2.14% today and later touched an intraday high of Rs 1470.5, rising 5.04% on BSE after the company said it has resumed operations at its facilities in Gujarat and Madhya Pradesh from 14 April after obtaining requisite permissions.
12.50 PM: European indices open higher
European indices also opened postive today, with CAC and DAX and FTSE trading above 1%. In Asian counterparts, Shanghai, SGX Nifty, Strait Times were trading 1% higher, while Kospi was flat. Nikkei was down 1.3%, with Hang Seng and Taiwan index trading marginally lower.
12.40 PM: Tata Steel drops 3%
Tata Steel stock price opened with a loss of 2.86% today and fell 3.14% to an intraday low of Rs 276.2 after the company said tha S&P Global has lowered its rating to 'B+' with a negative outlook. The ratings agency said the downgrade was on account of the expectations that COVID-19 related disruptions and the consequent economic slowdown will adversely impact the steel maker.
12.30 PM: HDFC Securities on Pharma sector
- Our positive stance on Indian pharma is premised on sector's relative resilience to Covid disruption, favorable currency tailwinds and stable outlook for India and US business. India growth has picked up (10% growth for IPM as of MAT Mar'20) and we forecast 11% growth for covered companies over the next two years. US pricing environment continues to remain benign and the regulatory challenges are well understood.
- The pharma sector is up approx 1% YTD and has outperformed the Nifty Index by 28%.
- We prefer stocks with high India exposure as it offers greater earnings visibility, supported by reasonable valuations.
- Reiterate Buy on Cipla. Downgrade Dr. Reddy's to Reduce.
12: 20 PM Zuari Agro Chemicals climbs 5%
The share price of Zuari Agro Chemicals opened with a gain of 2.82% today and later touched an intraday high of Rs 93, rising 5.08% on BSE after the rating firm ICRA has upgraded the credit rating of Zuari Agro Chemicals Ltd
12.10 PM: Biocon climbs almost 5%
Biocon Biologics shares rose 4.72% to the day's high of Rs 352.8 after the company said it has received Establishment Inspection Report (EIR) from USFDA for Pre-Approval Inspection (PAI) at two of its biologics manufacturing facilities in Bengaluru. The inspection was conducted between September 10 & September 19, 2019.
12.00 PM: Bajaj Auto falls over 2%
Bajaj Auto shares declined 2.5% to an intraday low of Rs 2274.95 on BSE after the company told CNBC it has decided to go for a pay reduction till the May 3. Sources at Bajaj Auto suggested that the company is not looking at laying off employees for the moment.
11.50 AM: Hero Motocorp drops almost 4%
Hero Motocorp shares were among the top losers today, after Morgan Stanley lowered FY20 EPS for the auto major by 7.8% as it built in the actual March sales numbers. The brokeage said that FY21 and FY22 EPS changes are less than 1%.
Hero Motocorp shares touched an intraday low of Rs 1,753.2, falling 3.93% on BSE today.
11.40 AM: JSW Energy rises 3%
Share price of JSW Energy climbed 3% to the intraday high of Rs 41.85 on BSE after the company said Brickwork Ratings India Pvt. Ltd (Brickwork) has reaffirmed its ratings of 'BWR A1+' on Commercial Papers of the company.
11.30 AM : Market climbs higher
Sensex and Nifty turned postive on Thursday, accounting the reverse in SGX Nifty that traded 100 points higher. With the start of March quarterly earnings' season, BSE Sensex gained 200 points higher to 30,566 and NSE Nifty rose 66 points to 8,998.
11: 20 AM Care Ratings up 6%
Care Ratings share price rose to an intraday high of Rs 441.75, rising 6.2% on BSE after the company announced that it has appointed Ajay Mahajan as the MD & CEO of the company for 5 years commencing from April 15,2020.
11.10 AM L&T climbs over 4%
Larsen and Toubro shares climbed 4.08% to an intraday high of Rs 915.8 on BSE after the company announced that its heavy engineering arm has won contracts in the range of Rs 1,000-2,500 cr.
11.00 AM: Motherson Suni rises over 7%
Motherson Sumi share prcie today touched an intraday high of Rs 76, rising 6.74% on BSE after the company said its board has approved raising of capital up to Rs 500 cr through NCDs.
10: 50 AM: IMF says,' Asia's economic growth this year will grind to a halt for the first time in 60 years'
Markets turned negative after Reuters reported that IMF said in a report note on Thursday that Asia's economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an "unprecedented" toll on the region's service sector and major export destinations.
"Policymakers must offer targeted support to households and firms hardest-hit by travel bans, social distancing policies and other measures aimed at containing the pandemic," said Changyong Rhee, director of the IMF's Asia and Pacific Department.
"These are highly uncertain and challenging times for the global economy. The Asia-Pacific region is no exception. The impact of the coronavirus on the region will be severe, across the board, and unprecedented," he added.
10.40 AM: US dollar today
The US dollar index, rose by 0.46% to 99.91.
10.30 AM: Rupee slips to record low of 76.82
Rupee, the currency benchmark opened at all-time low of 76.80 and slipped further to record low of 76.82 today. Rupee ended at day's low of 76.45 per dollar on Wednesday.
10.25 AM: Crude oil today
Brent crude futures rose 1.66% to USD 28.15 per barrel today.
10.20 AM : Market Update
Equity indices Sensex and Nifty turned flat with positive bias on Thursday, accounting the reverse in SGX Nifty that traded 20 points higher. With the start of March quarterly earnings' season, BSE Sensex fell 250 points lower to 30,120 and NSE Nifty dropped 40 points to 8,889. Sectorally, gains in FMCG, realty, media, metal and IT were capped by losses in banking, finance, auto and pharma sectors.
10.10 AM: IT stocks tank
IT stocks fell in today's trade after Wipro posted weak earnings figures for the March quarter. The BSE IT index was the worst hit, falling over 2%.
TECh Mahindra, and Infosys were falling over 3%, followed by Tata Consultancy Services (TCS) shares that fell 3.3% lower to the low of Rs 1,691, as the IT major is scheduled to announce its quarterly earnings later in the day.
10.00 AM: Gainers and losers
On the Sensex pack, Infosys, Kotak Bank, Hero MotoCorp, Tech Mahindra, Titan and Axis Bank were maong the top losers. On the other hand, L&T, PowerGrid, Sun Pharma, Reliance Industries and ONGC were among the gainers
9.50 AM: Sectors mixed today
Sectorally, gains in FMCG, realty, media, metal and IT were capped by losses in banking, finance, auto and pharma sectors.
9.40 AM Wipro drops 6% post Q4 result
Wipro share price opened with a loss of 6.03% today and later fell 6.03% to an intraday low of Rs 175.3 on BSE after the IT major reported weak Q4 earning figures yesterday.
On the YOY basis, Wipro reported a 6% decline in profit at Rs 2,345.20 crore in March 2020 from Rs 2,493.90 crore in the same quarter last year. Revenue was up 4.7% at Rs 15,711 crore from Rs 15,006 crore in the year-ago period. Wipro has decided not to give revenue guidance for the June quarter due to uncertainties.
9.30 AM: MCX Gold turns red after hitting lifetime high
After hitting fresh lifetime highs today at 46,783 per 10 gm, gold MCX futures for May month reversed trend and dropped 167 points lower to 46,529 per 10 gm. Gold closed yesterday at 46,696 per 10 gm.
On Gold's near term outlook Anuj Gupta-DVP-Commodities & Currencies Research, Angel Broking said,"We are expecting this rally may continue and Gold may test Rs 49,000 to Rs 50,000 on MCX and in the international market, it may test $1780 to $1800 soon."
9.20 AM: Market open lower
Equity indices Sensex and Nifty opened on a negative note on Thursday, accounting the sharp decline in global markets amid the start of March quarterly earnings' season. BSE Sensex fell 250 points lower to 30,120 and NSE Nifty dropped 40 points to 8,889.
According to experts, prevailing uncertain market conditions amid the rising cases of the virus and extension of the lockdown period have caused volatility and led to the downfall of broader markets on a global scale.
9.10 AM: Pre-open session
Equity indices Sensex and Nifty pre-opened on a negative note on Thursday, accounting the sharp decline in global markets amid the start of March quarterly earnings' season. BSE Sensex fell 250 points lower to 30,125 and NSE Nifty dropped 90 points to 8,834. SGX Nifty traded 50 points lower at 8,873 level, indicating a tepid start in domestic grounds today.
9.00 AM Outlook for market by experts
Ajit Mishra, VP - Research, Religare Broking said,"We reiterate our cautious view on Indian markets and suggest not to go overboard during this recovery move. Domestic factors such as sharp surge in the coronavirus cases and extension of the lockdown will continue to weigh on the investor sentiment ahead. The earnings season begins today. However, we believe that more than the earnings announcement, the outlook given by the management would hold significant importance for the participants."
Ruchit Jain (Equity Technical Analyst, Angel Broking) said, "During the mid-week holiday, our government announced extension of the ongoing lock down period. However, market participants had anticipated such move in advance and hence, it was already factored in due to which we did not see any impact at opening. However, as mentioned in our yesterday's report, the immediate resistance of the index was seen around 9320 which is the 38.2 percent retracement of the recent correction. Nifty almost rallied towards that resistance (made high of 9261) and then witnessed profit booking during later part of the day."
8.55 AM March quarterly release: major cue for market trend
With the start of earning season worldwide, investors will be keenly watching the company wise performance since the outbreak and the financial damage from the same.
Earnings season in India has also started with IT major Wipro reporting a 5.3% sequential fall in its consolidated profit at Rs 2,326.1 crore for the quarter ended March 2020. The company announced Q4 results after market hours today.
"With the earnings season starting, management commentary about the impact of Covid-19 on their respective businesses, will be in focus. IT companies will officially kick off the earnings season and investors will be keen on how the virus spread has impacted their services and the locations in which those services are offered," Vinod Nair added.8.50 AM: Global markets in red
Wall Street closed in red over dismal economic data and poor start of the quarterly earnings' season. The Dow Jones Industrial Average fell 1.86%, the S&P 500 lost 2.20% and the Nasdaq Composite dropped 1.44%. Tracking bearish trend from overseas, Asian markets also opened lower today, with Nikkie dropping over 1.5% and SGX Nifty, Kospi, Hang Seng trading 0.70% lower. Taiwan was marginally red, while Shanghai was flat with positive bias. European indices closed 3% lower yesterday.
8.45 AM: Market cues
Domestic investors remained fragile turned red amid concerns over the economic damage from of COVID-19 induced nationwide lockdown. Traders said investors have already factored in the chances of extension and the domestic market will continue taking cues from the worldwide trend.
8.40 AM:Trade deficit data
India's trade deficit narrowed to $9.8 billion in March from $11 billion a year-ago. Exports and imports fell by 34.6%, 28.7%, on a yearly basis.
8.35 AM: FII/DII action on Wednesday
On a net basis, FIIs bought Rs 1,358.66 crore equities, while DII's offloaded Rs 1,097.86 crore
8.30 AM: Stocks to watch today on April 16
TCS, Wipro, IPCA Labs, JSW Energy, Bajaj Auto, Care Ratings, Man Industries India among others are the top stocks to watch out for in Thursday's trading session
8.20 AM: Market expectations
Benchmarks Sensex and Nifty are likely to open on a negative note on Thursday, backed by weak global cues. SGX Nifty traded 50 points lower at 8,873 level, indicating a tepid start in domestic grounds today. Globally markets turned red amid concerns over the rising number of COVID-19 cases in the country and the economic fallout of the nationwide lockdown.
8.15 AM: WPI inflation figures
The Wholesale Price Index (WPI)-based inflation eased for the third month in a row in March 2020 to 1 per cent, lowest in the past four months and a four-year low for the full financial year 2019/20.
8.10 AM : Coronavirus toll
According to experts, prevailing uncertain market conditions amid the rising cases of the virus and extension of the lockdown period have caused volatility and led to the downfall of broader markets on a global scale. There 20.83 lakh confirmed cases worldwide and almost 1.35 lakh deaths from the coronavirus COVID-19 outbreak. India has recorded a total of 12,370 cases, 442 deaths and 1,508 recoveries.
8.05 AM: Rupee closing
Rupee, the local unit ended at day's low of 76.45 per dollar on Wednesday
8.00 AM: Closing bell
Benchmarks Sensex and Nifty erased early gains and closed bearish by the afternoon session on Wednesday, in line with global trend. Extending decline for the second straight session, BSE Sensex closed 310 points lower at 30,379 and NSE Nifty 50 ended 68 points lower to 8,925. Sectorally, gains in realty, FMCG, IT were capped by losses in banking indices.