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Share Market Update: Sensex ends 59 points higher, Nifty at 9,266; Tata Motors, HDFC Bank, Infosys top gainers

Sensex, Nifty Live News Today: As per market experts, stock-specific action in index heavyweights HDFC twins, Infosys, Kotak Bank, Tech Mahindra, HCL Tech and TCS kept Sensex and Nifty positive today.

twitter-logoBusinessToday.In | April 20, 2020 | Updated 15:56 IST
Share Market Update: Sensex ends 59 points higher, Nifty at 9,266; Tata Motors, HDFC Bank, Infosys top gainers
Here's a look at the updates of the market action on BSE and NSE today:

Sensex, Nifty Updates on April 20, 2020: Benchmark Sensex and Nifty erased early gains and closed on flat note on Monday, tracking weakness from global key indices. BSE Sensex closed 59 points higher at 31,648 and NSE Nifty ended unchanged (down 0.20 points) at 9,266.

European markets started off the week on a flat note. Meanwhile, Asian indices turned red earlier today on weak oil prices that collapsed to more than two-decade lows on low demand data and storage facilities reaching their limits. Upcoming earnings reports and economic data also kept investors cautious.

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

3.45 PM: Closing bell

Benchmark Sensex and Nifty erased early gains and closed on flat note on Monday, tracking weakness from global key indices. BSE Sensex closed 59 points higher at 31,648 and NSE Nifty ended unchanged (down 0.20 points) at 9,266.

Sectorally, gains in PSU Bank, IT, media and realty were capped by metal, pharma, FMCG and auto. As per market experts, stock-specific action in index heavyweights HDFC twins, Infosys, Kotak Bank, Tech Mahindra, HCL Tech and TCS kept Sensex and Nifty positive today.

3.30 PM Crude prices continue decline

Oil prices that collapsed to more than two-decade lows as the global lockdown saw fuel demand falling and storage facilities reaching their limits. Brent crude was off 32 cents at $27.75 a barrel. Oil markets have plunged as governments across the planet introduce lockdowns to stem the spread of the virus, hammering demand for the commodity.

3.15 PM : Market update

Benchmarks Sensex and Nifty turned votalie by Monday's closing session, tracking weakness from global key indices and traded on a tepid note. As per market experts, stock-specific action in index heavyweights HDFC twins, Infosys, Kotak Bank, Tech Mahindra, HCL Tech and TCS kept Sensex and Nifty positive today.

3.10 PM: Rupee closes at 76.35

Indian rupee, the local benchmark currency that opened weak at 76.43 closed at 76.35 per dollar today.

3.00 PM: RIL share price climbs 3%

Reliance Industries stock has risen 8.5% in the last 3 days of trade. TIL stock currently trades higher than 5 and 20 day moving averages but lower than 50, 100 and 200 day moving averages.

2.50 PM: Sun Pharma share price gains over 3%

Sun Pharma share price has risen 3.04% to an intraday high of Rs 470.9 on BSE today. Sun Pharma share price is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. In the meanwhile, pharma sector has risen 0.52% on BSE.

2.40 PM: Motherson Sumi Systems share price falls 2%

Motherson Sumi Systems stock has fallen after 3 days of consecutive gain and fell 2% to the day's low of Rs 83.90 on BSE aftr the company said that India Ratings and Research has issued revised ratings of Non-convertible Debentures worth Rs 500 cr.

2.30 PM: ICICI Bank share price declines over 2%

ICICI Bank share price fell after 2 days of consecutive gain and touched an intraday low of Rs 366.1, declining 2.62% on BSE today.

The company said in its latest filing that rating firm S&P Global Ratings has affirmed the rating of BBB- for the private lender and revised its outlook from stable to negative.

2.20 PM: Apollo Tyres share price rises almost 7%

Apollo Tyres share price gained nearly 7% today to Rs 104, its day's high after the tyre maker announced that the company board has approved raising Rs 1,000 crore through the issuance of NCDs, in one or more tranches.

2.10 PM : Muthoot Finance share price climbs over 7%

Muthoot Finance shares touched an intraday high of Rs 758.45, rising 7.34% on BSE. Muthoot Finance share price trades higher than 5, 20, 100 and 200 day moving averages but lower than 50 day moving averages.

1.50 PM: Market update

Benchmarks Sensex and Nifty turned votalie by Monday's afternoon session, tracking weakness from global key indices and traded on a tepid note. Sectorally, gains in PSU Bank, IT, media and realty were capped by metal, pharma, FMCG and auto. As per market experts, stock-specific action in index heavyweights HDFC twins, Infosys, Kotak Bank, Tech Mahindra, HCL Tech and TCS kept Sensex and Nifty positive today.

European markets started off the week on a flat note. Meanwhile, Asian indices turned red earlier today on weak oil prices that collapsed to more than two-decade lows on low demand data and storage facilities reaching their limits. Upcoming earnings reports and economic data also kept investors cautious.

1.40 PM: Expert opinion on Nifty's technical outlook

Commenting on Nifty's technical outlook, Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking said," Every time Nifty approached 8800-8850, the buying tends to emerge and finally we saw surpassing of 9200 on a closing basis. Technically, this development was crucial for our markets as we can now see the immediate base getting shifted higher from 8000 to 8650-8800. On the flip side, this opens up the floodgates to extend this relief rally towards 9500-9800 in coming days."

Commenting on Index-wise performance, he said,"Importantly, the banking index which has been the weakest link of late has finally made a strong come back. This certainly provides credence to the move. Apart from banking, Auto index has shown some strength along with the midcap space which has been buzzing throughout the week."

1.30 PM: IRCTC share price locks 5% upper circuit

Share price of IRCTC opened with a gain of 4.28% today and later gained 5% to lock at upper price-band circuit at an intraday high of Rs 1424.7 in today's trade. There are only buyers' bids and no offers by sellers in IRCTC shares. IRCTC shares are trading higher than 5, 20, 50, 100 and 20- day moving averages.

1.20 PM: Vinati Organics' share price rises almost 6%

Vinati Organics shares touched an intraday high of Rs 922.9, rising 5.78% on BSE after the company said it has re-commenced operations in a phased manner at both the Mahad and Lote facilities in Maharashtra from today after obtaining requisite permissions.

1.10 PM: Nifty near term outlook

Expressing views for the coming week, Ajit Mishra, VP - Research, from Religare Broking said,"Going ahead, earnings will remain in focus. We feel the management commentary will be crucial more than the results as it will set the tone for coming quarters amid the COVID-19 crisis."

On Nifty's near term technical outlook, he added," The recent buoyancy in the banking space is certainly positive and that could help the Nifty to test 9,450 soon. Surprisingly, other cyclical too are showing resilience."

"However, a lot depends upon the earnings now and how the coronavirus situation pans out ahead," he said and added that," In the case of decline, the 9,000-8,700 zone would act as support.

He further suggested maintaining a positive yet cautious approach and focusing more on stock selection

1.00 PM: European markets extend gains at opening, erase gains later

European markets that started off the week in gains erased early gains within first hour of session. Where Germany's Dax was rising marginally, France's CAC and London's FTSE were flat, with negative bias.

Asian indices turned red earlier today on weak oil prices that collapsed to more than two-decade lows on low demand data and storage facilities reaching their limits. Upcoming earnings reports and economic data also kept investors cautious.

On Friday, European and US indices closed in green with some lockdown ease support coming from signs that the coronavirus may have already peaked in the nations. There 21.07 lakh confirmed cases worldwide and almost 1.65 lakh deaths from the coronavirus COVID-19 outbreak.

12.45 PM: Airline shares in red

Airlines sector in BSE was trading 4% lower today, tracking fall in SpiceJet and IndiGo shares, that were down 1.5% and 5.5%, respectively.

Airlines in the country have stopped accepting bookings for travel. This was after strict directions from the Ministry of Civil Aviation and industry regulator DGCA were given to airline carriers, on back of increasing cases of COVID-19 infections, extended the lockdown to May 3.

12.40 PM: Rupee weakens past 76.50 against the US dollar, falls to day's low

Rupee the Indian currency fell today, breaching the 76 per dollar mark, to the day's low of 76.62, down 23 paise against the last close.

12.35 PM : Oil marketing companies trade higher

Shares of Indian Oil, BPCL, HPCL were trading 2.5% higher in today's trade as crude oil prices were declining today.

12. 25 PM: Global markets mixed today

In global cues, Wall Street ended higher as investors turned optimistic that the US economy might reopen soon from lockdowns that were enforced to contain the novel coronavirus' spread.

Although Asian counterparts were trading cautiously as investors anticipated poor upcoming corporate earnings reports and economic data, due to the damage done by the global virus lockdown.

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.

12.15 AM: Market Update

Top gainers in today's trade included index heavyweights like Tata Motors, TVS Motors, HDFC Bank, Infosys, Kotak Bank among others. Sectorally, gains in PSU Bank, IT, media and realty were capped by metal, pharma, FMCG and auto. At opening bell today, BSE Sensex traded 100 points higher at 31,680 and Nifty rose 32 points higher to 9,301.

12.05 PM: Tata Motors share price top gainer on NSE

Tata Motors share price were trading as top gainers on NSE Nifty, rising 8.5% on BSE despite the company announcing that  Jaguar Land Rover retail sales in FY 19-20 were 508,659 vehicles, down 12.1% on FY 18-19.

This was primarily as a result of the coronavirus pandemic significantly impacting sales in the fourth quarter of the fiscal year. The company's total retail sales for the quarter ending 31 March 2020 were 109,869 vehicles, down 30.9% compared to the same period last year, the filing added.

Tata Motors share price gained 8.46% to the day's high of Rs 83.35 on BSE.

11.55 AM: TVS Motor share price rises 7%

TVS Motors share price gained 7% intraday to Rs 323 on BSE today after the company said it plans to acquire certain assets from Norton including brand "Norton" and associated brands. As per the release, the transaction has been concluded for an all cash transaction for 16 million euros.

11. 45AM: ACC share price climbs 2%

ACC shares opened with a gain of 2.34% today and later rose 2.73% to an intraday high of Rs 1204.55 on BSE. The company said  it plans to resume operations in a phased manner from April 20, 2020. ACC shares trades higher than 5 and 20 day moving averages but lower than 50, 100 and 200 day moving averages.

11.40 AM: Coronavirus toll

There 21.07 lakh confirmed cases worldwide and almost 1.65 lakh deaths from the coronavirus COVID-19 outbreak. The number of active coronavirus cases reported in India rises to 17,265 cases including 543 deaths and 2,546 recoveries. In the last 24 hours, total cases increased by 1,324.

11.30 AM: Rupee slips 11 paise to 76.50 per dollar

Indian rupee, the local benchmark currency opened weak at 76.43 and then fell further down 11 paise to 76.50 per dollar on Monday, amid strengthening of the US currency.

Rupee vs Dollar: Rupee slips 11 paise to 76.50 amid strengthening of the US currency

11.25 AM: Cadila Healthcare share price climbs 2%

Cadila Healthcare shares opened 2.17% higher and touched an intraday high of Rs 341 on BASE after the company announced that it's subsidiary Zydus is exploring the biologicals route to treat novel Coronavirus with long-acting Interferon alpha-2bhas. Earlier in another filing Zydus received a final nod from drug regulator USFDA for muscle relaxant Baclofen tablets.

11.10 AM: Suzlon Energy share price locks 5% upper circuit

Suzlon Energy shares rose 4.9% to lock at upper price band for the day after the company said it's board has approved issuing up to 100 cr equity shares to lenders at Rs 1 each. The board also plans to issue optionally convertible debentures of Rs 100 cr to lenders & convertible debentures up to Rs 50 cr at Rs 2.45 per share, as per the filing.

10.55 AM: Kotak Mahindra Bank share price rises over 3%

Kotak Mahindra Bank shares were trading as the top gainers on Nifty, rising over 3% on BSE after the lender said its board plans to consider raising equity cap through FPO/QIP or both on April 22 and also may consider raising equity cap through private placement.

Shares of Kotak Mahindra Bank opened with a gain of 2.66% post the announcement and touched an intraday high of Rs 1224.5, rising 3.21% on BSE.

10.45 AM: SEBI relaxes rules amid lockdown

SEBI has said that prior intimation for board meetings held till July 31,2020 is now reduced to two working days. SEBI also eased compliance for loss of share certificates, issue of duplicate certificates till May 31. SEBI said,"It has been decided that any delay beyond the stipulated time will not attract penal provisions."

10.35 AM: Coronavirus toll

India reported 36 more COVID-19 deaths in past 24 hours taking the toll to 543 while, the total number of confirmed cases have crossed the 17,000 mark. According to the latest date by the Ministry of Health and Family Welfare, there are 17,265 confirmed coronavirus cases in India currently including 14,175 active cases, while 2,546 have been cured and discharges and 1 migrated.

Coronavirus Lockdown Relaxation Live Updates: Home Ministry directs states to obey curfew rules; tally-17,265

10.30 AM: Infosys share price rises 4% ahead of results

Infosys shares rose to an intraday high of Rs 654.5, gaining 4% ahead of results today. The stock has risen 4.47% in the last 2 days of trade. Currently, Infosys stock trades higher than 5 and 20 day moving averages but lower than 50, 100 and 200 day moving averages.

Infosys share price rises 5% ahead of Q4 earnings

10.20 AM: Gold prices extend decline today

Internationally, gold extended losses from Friday's trade and fell marginally as the dollar firmed and equity markets rose on hopes of US economy restarting again. Spot gold fell 0.5% to $1,675.92 per ounce, having touched its lowest since April 9 earlier in the session. The metal slumped about 2% on Friday.

Meanwhile, US gold futures slipped 0.7% to $1,687.20.

On MCX, too, Gold futures fell 0.25% or 195 points lower at 45.562 per 10 gm today.

Gold prices plunge on firm dollar, hopes of re-opening of US economy

10.10 AM: Muted market cues

In global cues, Wall Street ended higher as investors turned optimistic that the US economy might reopen soon from lockdowns that were enforced to contain the novel coronavirus' spread. Although Asian counterparts were trading cautiously as investors anticipated poor upcoming corporate earnings reports and economic data, due to the damage done by the global virus lockdown. 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.

9.50 AM: Market turns volatile

Benchmarks Sensex and Nifty turned volatile on Monday's trade, backed by muted global cues, amid buying pressure in index heavyweight HDFC Bank, Infosys, Kotak Bank etc. BSE Sensex traded 100 points higher at 31,680 and Nifty rose 32 points higher to 9,301.

9.40 AM: HDFC Bank share price among top gainers today

HDFC Bank share were trading as top gainers on NSE today, rising 5% apiece, after the company reported healthy figures for the March quarterly earnings. The lender reported a 24.6% yoy growth in its net profit at Rs 26,257.3 crore for the financial year ended March 31, 2020, as against Rs 21,078.14 crore in the financial year 2018-19. Bank's net revenues jumped 20.6% to Rs 79,447.1 crore in FY20 versus Rs 65,869.1 crore in FY19.

On the asset front, HDFC Bank's asset quality improved during FY20, with gross non-performing assets (NPAs) ratio rising to 1.26% versus 1.36% in the year-ago period. Net NPA stood at 0.36% as compared to 0.39% in FY19.

HDFC Bank share gains most on Sensex, Nifty post Q4 earnings

9.20 AM: Opening bell

Benchmarks Sensex and Nifty opened on a positive note on Monday, backed by positive global cues, amid buying pressure in index heavyweight HDFC Bank, Infosys, Kotak Bank etc. BSE Sensex traded 100 points higher at 31,680 and Nifty rose 32 points higher to 9,301.

9.00 AM: Stocks to watch today on April 20

Infosys, HDFC Bank, Maruti Suzuki, Cadila, Tata Motors among others are the top stocks to watch out for in Monday's trading session

Stock in news: Infosys, HDFC Bank, Maruti Suzuki, Cadila, Tata Motors and more

8.45 AM: Global cues

On Wall Street, the Dow Jones Industrial Average rose or 2.99%, the S&P 500 gained 2.68% and the Nasdaq Composite added 1.38%. European indices also closed higher tracking the trend.

US Stocks closed higher on Friday on hopes of Donald Trump's plan to reopen the coronavirus-battered economy.

Asian indices had a rough start today, with US crude prices falling in early trade as the global lockdown saw fuel demand falling. Brent crude was off 32 cents at $27.75 a barrel.

Where Japan's Nikkei fell 1.3%, South Korea's Kospi was down 0.1%. Taiwan, Strait Times and SGX Nifty fell marginally lower.

8.35AM: HDFC Bank Q3

The lender on Saturday reported a 24.6% yoy growth in its net profit at Rs 26,257.3 crore for the financial year ended March 31, 2020, as against Rs 21,078.14 crore in the financial year 2018-19. Bank's net revenues jumped 20.6% to Rs 79,447.1 crore in FY20 versus Rs 65,869.1 crore in FY19.

HDFC Bank net profit rises 24% to Rs 26,257 crore in FY20; asset quality improves

8.25AM: Coronavirus toll

There 21.07 lakh confirmed cases worldwide and almost 1.65 lakh deaths from the coronavirus COVID-19 outbreak. The number of active coronavirus cases reported in India rises to 16,116 cases including 519 deaths and 2,300 recoveries. In the last 24 hours, total cases increased by 1,324.

8.15 AM: Q4 Earnings today

Birla Money, Infosys and Linde India are among the top companies that will be reporting their March quarterly earnings.

8.10 AM: FII/ DII action on Friday

FIIs net sell Rs 1391.98 cr while DIIs net buy Rs 534.24 cr in equities on April 17

8.05 AM: Rupee closing on Friday

Rupee, the local currency benchmark, closed 48 paise higher at 76.39 against the US dollar on Friday.

8.00 AM : Friday's Closing bell

On Friday, Sensex and Nifty closed at day's high, tracking gains in global key indices. BSE Sensex ended 986 points higher at 31,588, NSE Nifty traded 298 points higher at 9,291.

Sensex gains 986 points as RBI unveils steps to fight Covid-19 crisis, financials rally

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