Sensex, Nifty Updates: Benchmark Sensex and Nifty closed bullish on Wednesday, in line with overseas markets, amid heavy buying in metal and auto shares. Extending gains for the third consecutive session, BSE Sensex ended 605 points higher at 32,720 and NSE Nifty rose 172 points to 9,553.
All sectors closed higher today, with metal rising 4.5%, auto up 2%. PSU banking and financials were gaining 1.8% each, followed 1.7% gain in media scrips and 1.3% rise in IT and realty sectors. HDFC Bank, Bajaj Finance, HDFC, HCL Tech, GAIL, Adani Ports were among the top gainers on NSE. On the contrary, Dr Reddy, HUL, Axis Bank, Titan, Asian Paints were among the top losers today.
Here's a look at the updates of the market action on BSE and NSE today
3.45PM: Closing bell
Extending gains for the third consecutive session, BSE Sensex ended 605 points higher at 32,720 and NSE Nifty rose 172 points to 9,553.
3.32 PM: Global markets
Global markets were on a rise today amid rising oil prices as France, Spain and Italy moved to ease anti-virus controls and allow businesses to reopen.
Asian markets are trading positive led by rising oil prices.
European markets opened higher on the back of better earnings and reopening from lockdown news.
U.S. markets closed slightly negative as investors awaited results from Facebook and Microsoft and FOMC rate decision later in the day.
3.24 PM: Oil rises over 4%
Oil price bounced back from recent lows. U.S. stockpiles rose less than expected on hopes that demand could return as some countries ease restrictions. Brent Crude futures traded 4.25% higher at 21.33 per barrel.
3.10 PM: Glenmark Pharmaceuticals rises 2.2%
Glenmark Pharmaceuticals' share orice rose 2.2% intraday to the dya's high of Rs 335.20 on BSE after the company received ANDA tentative approval for Dapagliflozin and Saxagliptin Tablets, 10 mg/5 mg.
2.55 PM: Market update
Benchmark Sensex and Nifty rose sharply by the last hour of trade on Wednesday, taking positive cues from Asian markets, amid heavy buying in metal and auto shares. Extending rise for the third consecutive session, BSE Sensex rose 640 points higher at 32,755 and NSE Nifty rose 174 points to 9,555.
2. 47 PM: Hindustan Oil share price rises 6.8%
Hindustan Oil share price climbed 6.8% intraday to the high of Rs 40 after the company announced successful drilling and completion of second well named D-1 in Block MB/OSDSF/B80/2016 located in Mumbai Offshore.
The company said in a exchange filing that it has completed exploration testing of new oil well that can produce 6000-7000 barrels of oil everyday.
2.41 PM: Hexaware Technologies climbs 6.54% after reporting Q4 results
Hexaware Technologies' share price climbed 6.54% higher to the intraday high of Rs 306 on BSE after the company reported better-than-expected March quarter performance.
The company reported 26% annual rise in its consolidated net profit to Rs 174 crore during the quarter ended March 31, 2020 as against Rs 138 crore, recorded in a year-ago period.
Total income also rose 25.8% yearly to Rs 1,585 crore in the January-March quarter of the current fiscal as compared to Rs 1,259 crore in the same period last financial year.
The IT major registered profit of Rs 641 crore during the year ended March 31, 2020, while its income for the year stood at Rs 678 crore. Hexaware management has suspended the guidance that was provided earlier for FY20.
2.34 PM: Rupee closes at 75.67 per dollar
Rupee closed 52 paise higher at 75.67 per dollar today, as compared to its earlier closingof 76.19 per US dollar.
2.29 PM: Hindustan Zinc rises 3.5%
Hindustan Zinc share price rose 3.5% intraday to Rs 171 on BSE today after the company said its board plans to announce Q4, FY20 results, dividend on May 21, 2020
2.20 PM: Lupin share price rises 2%
Lupin share price climbed 2.15% to the eintraday ghigh of Rs 872.7 after the company recieved tentative approval for Arformoterol Tartrate inhalation solution from USFDA
2.04 PM: Gold price rises today
Gold futures were trading higher on Wednesday, up 0.09 per cent or Rs 43 to Rs 46,109 per 10 grams
1.49 PM: Global market update
Domestic markets gained today on account of smart gains in US Futures ahead of US Fed interest rate decision, strong opening in Asian indices and recovery in oil prices.
US Futures (Dow Jones) traded at 24229, up 184 points or 0.77%.
Brent Crude traded at $21.13 per barrel, up 3.27%.
SGX Nifty traded 97 points higher at 9,495.
1.41 PM: Hexaware Teachnologies' share price rises 5.5%
Hexaware Teachnologies' share price rose 5.5% to the intraday high of rs 303 on BSE, as the company will be reporting its MArch waurterly results today.
1.27 PM: IRCTC shares climb 2.7%
IRCTC stock price opened with a gain of 2.75% today and climbed 2.77% to an intraday high of Rs 1364.3 on BSE. The stock has gained 6.12% in the last 2 days. IRCTC share price higher than 20 day, 100 day and 200 day moving averages but lower than 5 day and 50 day moving averages
1.16 PM: European markets open in green
European stocks started Wednesday's trade in green with airline stocks opening with heavy gains as France, Spain and Italy moved to ease anti-virus controls and allow businesses to reopen.
1.13 PM: Biocon share price gains over 4%
Biocon share price rose ocer 4% in trade on Tuesday after the company announed that it has launched Fulphila, Biosimilar Pegfilgrastim, in Canada, in collaboration with Mylan N.V
With the opening bell, the stock touched an intraday high of Rs 367, rising 4.23% on BSE. Currently Biocon stock price trades 2.91% away from 52 week high of Rs 367.8.
Biocon is trading higher than 5, 20, 50, 100 and 200 day moving averages. Biocon stock has risen almost 29% in last one month and 21% since the start of the year.
1.07 PM: SBI Cards rises over 4%
SBI Cards stock has gained after 3 days of consecutive fall today and touched an intraday high of Rs 573.75, rising 4.19% on BSE. The stock has risen almost 7% in last one week.
With high buying interest, the stock currently trades higher than its 5 day moving averages but lower than 20, 50, 100 and 200-day moving averages.
1.00 PM: IndusInd Bank share price reverses losses
IndusInd Bank share price erased early losses and rose 4.29% to an intraday high of Rs 489. Earlier the stock had fallen 5.46% to the intraday low of Rs 443.3.
12.55 PM: Rupee surges to 75.64 per dollar
Rupee the local currency traded at 75.64 per dollar, rising 55 paise higher today.
12.45 PM: Global market update
Global markets were on a rise today amid rising oil prices as France, Spain and Italy moved to ease anti-virus controls and allow businesses to reopen.
Traders said investors are encouraged by plans to relax anti-virus controls that shut down factories, retailing, travel and other industries
Brent crude futures on Wednesday added 71 cents to $23.44 per barrel in London after rising 47 cents to $20.46 on Tuesday.
Globally, markets were cautiously higher ahead of the Federal Reserve's policy decision. The US Federal Reserve, is due to issue a policy statement at the close of its two-day meeting on Wednesday.
12.35 PM: Market Update
Sensex and Nifty climbed higher on Wednesday's trade, taking positive cues from Asian markets, amid heavy buying in metal and auto shares. Extending rise for the third consecutive session, BSE Sensex rose 365 points higher at 32,479 and NSE Nifty rose 109 points to 9,490. Sensex and Nifty have risen 4.82% and 4.45% in one week, 7.71% and 8.32% in one month. Since the beginning of this year, both bourses have fallen over 22% each.
12.30 PM: Gainers and losers today
Tata Steel, Bajaj Finance, HDFC, JSW Steel, HeroMotoCorp were among the top gainers on NSE. On the contrary, Axis Bank, Titan, Asian Paints were among the top losers today.
12.25 PM: Sectors today
All sectors were rising higher today, with metal rising 4.5%, auto up 2%. PSU banking and financials were gaining 1.8% each, followed 1.7% gain in media scrips and 1.3% rise in IT and realty sectors.
12.20 PM: Spicejet shares slip 5%
Spijet shre price slipped 4.95% intarady to the day's low of Rs 41.35 in Tuesday's early trade followig reports that suggested the airline carrier has told its employees that many of its pilots will not get salaries for April and May and pilots flying cargo will only be paid for the block hours down.
As per media reports, company's 16% of aircraft and 20% pilots have started flying and compnay intends to fly over 50% aircraft and 100% pilots in cargo.
12.10 PM: Larsen and Toubro share price gains
L&T share price gained 1.28% to the intrady high of Rs 868 on BSE after the company said its board has issued and allotted 25,000, 7.70% rated listed unsecured redeemable non-convertible debentures of Rs 10 lakh each aggregating to Rs 2,500 crore which will mature on April 28, 2025.
The said debentures are proposed to be listed on the National Stock Exchange of India, the filing added.
11.55 PM: Thomas Cook share price surges 4%
Thomas Cook share price surges 4% intraday to Rs 27.10 on BSE after the company informed the exchanges that it has reopened 6 branches.
11.50 AM: RIL share price climbs 1.7% on acquisition
Reliance Industries' share price climbed 1.7% intraday to the day's high of Rs 1453.05 as against the last closing value of Rs 1,428 on BSE after the oil conglomerate announced that Reliance Strategic Business Ventures Limited ('RSBVL'),its wholly owned subsidiary had acquired 17.37% shareholding in SkyTran Inc. on a fully diluted basis.
11.40 AM: Varun Beverages share price
Varun Beverages share price rose 3.49% to the intraday high of Rs 684.5 on BSE after the company said its board plans to approve quarterly results on May 5, 2020
11.30 AM: Hester Biosciences' share price locks 20% upper circuit
Hester Biosciences' share price opened with a gain of 4.64% today and later locked 20% upper circuit in today's trade to the day's high of Rs 1,366, as against the last closing value of Rs 1,139 on BSE. The stock has high buying interest, with only bids and no offers.
The company announced today that it has collaborated with says IIT Guwahati to develop vaccine against COVID-19.
The stock has traded in a wide range of Rs 216.65 today. It has risen 34.54% in one week, and 34.8% in one month.
11.25 AM: Ashok Leyland share price rises 7.5%
Ashok Leyland share price opened with a gain of 2.25% today and later rose 7.53% to an intraday high of Rs 47.85 on BSE.
Ashok Leyland share price has risen 7.56% in the last 2 days of trade. The stock has risen 8.12% in one week and 12% in one month.
11.15 AM: Q4 Earnings tomorrow
Reliance Industries, Tech Mahindra, Hindustan Unilever, Apollo Tricoat Tubes, Laurus Labs, Aditya Birla Money, Walchand Peoplefirst, Security and Intelligence Services and ABB Power Products and Systems among others will be reporting their March quarterly results tomorrow.
While shares of Laurus Labs, Hindustan Unilever fell 1.5% in trade today, share price of Reliance Industries, Tech Mahindra were rising marginally higher, rising 0.50% and 1.5%, respectively.
11.05 AM: Coronavirus toll
India has reported a total of 1,897 cases in the last 24 hours, taking the toll of total coronavirus cases to 31,332. This includes 1,007 deaths and 7,695 recoveries.
INDIA CORONAVIRUS TRACKER (April 29, 8 AM): BusinessToday.In brings you a daily tracker as coronavirus cases continue to spread. Here is the state-wise data on total cases, fatalities and recoveries.
10.45 AM: Rupee opens at 75.97 per dollar
Rupee, the local currency opened below 76 mark, at 75.97 per dollar, rising 22 paise stronger than its previous close of 76.19 per US dollar.
10.40 AM: Oil reverses trend, turns green
Oil prices in US jumped on Wednesday after US stockpiles rose less than expected and on hopes that European countries and US cities moved to ease coronavirus lockdowns.
West Texas Intermediate (WTI) crude futures were up 15.4%, or $1.90, at $14.24. Brent crude futures rose 4.6% to $21.39 a barrel.
As per the data from industry group the American Petroleum Institute showed on Tuesday, US crude inventories rose by 10 million barrels to 510 million barrels in the week to April 24.
10.35 AM: NLC India share price rises 5.6%
NLC India share price climbed 5.6% to the intraday high of Rs 45.50 on BSE after the company announced that for the first time, it commenced production of Coal on April 26, 2020.
The coal produced from Talabira II and III mines in the state of Odisha, which was allotted to NLCIL in 2016 with a capacity of 20 million tonnes per annum will be used to meet its requirement of its existing and future coal-fired power plants, the filing added.
10.20 AM: Coronavirus toll
The total number of cases in India has reached 30K, while the number of deaths has risen to 1,000, after 1,594 cases were reported in the last 24 hours.
10.10 AM: JK Paper share price drops over 5%
JK Paper share price drops 5.8% to an intraday low of Rs 101. The company announced yesterday that its board has board approved buyback upto Rs. 130 crore through open market purchase.
The stock has fallen after 2 days of consecutive gain.
9.50 AM: Moody's slashes growth forecast for G-20 economies, India
Moody's Investors Service its report titled - Global Macro Outlook 2020-21 (April 2020 update), Moody's has lowered G-20 advanced economies as a group to contract by 5.8 per cent in 2020.
It has also cut India growth forecast for calendar year 2020 to 0.2 per cent, from 2.5 per cent projected in March. For 2021, Moody's expects India's growth to rebound to 6.2 per cent.
9.45 AM: Atul shares fall over 2%
Atul share price fell 2.75% to the intraday low of Rs 4,745 on BSE as compared to its last close of Rs 4,879 after the company reported its March quarter earnings.
The company reported 26 % rise (YoY) in consolidated net profit to Rs 141 crore during the quarter ended March 31, 2020 as against Rs 115 crore, recorded in a year-ago period.
Total income fell 5.77%(YoY) to Rs 1,001 crore in the January- March quarter of the current fiscal as compared to Rs 1,062 crore in the same period last financial year.
9.35 AM: Indusind Bank share price top loser on Nifty
Indusind Bank share price fell after 2 days of consecutive gain and traded as the top losers today,
The stock has risen 8% in one week and 9.25 % in one month.
9.25 AM: Axis Bank share price drops
Axis Bankwas trading as the top loser on Nifty today as the lender's share price dropped 6.15% intraday to Rs 427 on BSE, after it reported March quarterly results yesterday.
Banks' operating profit for the quarter was Rs 5,851 crores, up 17% YOY from Rs 5,014 crore in Q4FY19. Net loss for Q4FY20 stood at Rs 1,388 crore.
Bank's Net Interest Income (NII) grew 19% YOY to Rs 6,808 crore during Q4FY20 from Rs 5,706 crore in Q4FY19.
Company board has also authorised the Bank to raise funds by issue of debt Instruments up to an amount of Rs 35,000 crore.
9.20 AM: Opening Bell
Benchmark Sensex and Nifty opened on a bullish note on Wednesday, backed by positive global cues. BSE Sensex rose 150 points higher at 32,267 and NSE Nifty rose 58 points to 9,437.
9.10 AM: Stocks in news today
JK Paper, NLC India, L&T, PNB Housing, Biocon, Thomas Cook among others are the top stocks to watch out for in Wednesday's trading session. Where Axis Bank, Atul reported Q4 figures yesterday, Hexaware Technologies will be reporting its March quarterly results today.
9.00 AM: Pre-open session
Benchmark Sensex and Nifty pre-opened on a positive note on Wednesday, backed by positive global cues. SGX Nifty traded 55 points higher at 9,447 level, indicating a positive start in domestic grounds today. BSE Sensex rose 200 points higher at 32,311 and NSE Nifty rose 27 points to 9,408.
8.50 AM: Global market cues
Globally, markets were cautiously higher on Wednesday ahead of the Federal Reserve's policy decision. The US Federal Reserve, is due to issue a policy statement at the close of its two-day meeting on Wednesday.
Positive oil prices also helped key Asian indices stay in the green. While Japan's Nikkei (down 0.06%) were closed for a public holiday, South Korea, Singapore and Shanghai rose over 0.50% And taiwan rose 1.5%.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2% for the third straight session of gains.
On Wall Street, the Dow Jones Industrial Average rose 0.34%, the S&P 500 gained 0.19% and the Nasdaq Composite dropped 0.47%.
8.40 AM: Index performance
Sensex and Nifty have risen 4.82% and 4.45% in one week, 7.71% and 8.32% in one month. Since the beginning of this year, both bourses have fallen over 22% each
8.30 AM: Market Expectations
Benchmarks Sensex and Nifty are likely to open on a positive note on Tuesday, backed by strong global cues. SGX Nifty traded 55 points higher at 9,447 level, indicating a positive start in domestic grounds today.
8.20 AM: Coronavirus Toll
The total number of cases in India has reached 29,974, including 7,026 recoveries and 937 deaths, after 1,594 cases were reported in the last 24 hours. Globally, there are currently 31.38 lakh confirmed cases and 2.17 lakh deaths from the coronavirus COVID-19 outbreak.
8.10 AM: Rupee closing
Indian rupee, the local currency rose from early losses and settled at day's high of 76.19 per dollar as against the previous closing value of 76.24 per US dollar.
8.00 AM: Closing bell on Tuesday
Extending rise for the second consecutive session, Sensex ended 371 points or 1.17% higher at 32,114 and Nifty rose 98 points or 1.06% to 9,380.