Sensex, Nifty Updates: Market indices Sensex and Nifty erased sharp losses and closed higher on Friday, backed by recovery in European indices that traded back in the green. BSE Sensex ended 242 points higher at 33,780 and NSE Nifty closed 70 points higher at 9,972. Market participants are also keenly awaiting Consumer Price Index (CPI) and Index of Industrial Production (IIP) data scheduled to be released later in the day for further cues. Companies set to announce their earnings are Eicher Motors, Hindalco, Goodyear, Castrol India, IOL Chemicals & Pharmaceutical, Geojit Financial Services among others.
Here's a look at the updates of the market action on BSE and NSE today
Market indices Sensex and Nifty erased sharp losses and closed higher on Friday, backed by recovery in European indices that traded back in the green. BSE Sensex ended 242 points higher at 33,780 and NSE Nifty closed 70 points higher at 9,972.
3.25PM: Nifty outlook
As per HDFC securities, 9707 followed by 9598 could be the next supports while 9944-10021 could be the next resistance for the Nifty in the near term.
3.17 PM: Market tunrs positive following recover in European stocks
Market indices Sensex and Nifty erased sharp losses and gained in the later half of Friday, with European indices recovering from losses to tarde back in the green. BSE Sensex was trading 258 points higher at 33,800 and NSE Nifty was up 75 points at 9,978.
Earlier domestic market traded sharply lower led by overaseas indices. Weak US economic outlook and fear of a new wave of coronavirus pandemic led to the plunge in Wall Street, leading to weakness in Asian counterparts.
3.00 PM: RIL share price erases early losses, gains over 2%
Reliance Industries share price erased early losses and gained marginally higher, in an otherwise bearish session on Friday, ahead of its partly paid-up Rights shares listing on bourses on June 12.
The RIL stock earlier opened with a loss of 2.76% today and touched an intraday low of Rs 1495 on BSE. Although later, the shares gathered momentum and rose 2.69% to an intraday high of Rs 1578.8, as against the last closing value of Rs 1,537 on BSE. The stock currently trades a mere 3.24% away from 52 week high of Rs 1,624.
2.30 PM: Rupee ends lower at 75.84 per dollar
Rupee ends lower at 75.84 per dollar as compared to its last close of 75.79 against the US dollar on Thursday.
2.00 PM: M&M share price top gainer on Nifty post results
Auto major Mahindra & Mahindra has reported 86 per cent decline in net profit at Rs 740 crore for the financial year 2019-20, compared to Rs 5,401 crore a year earlier. The decline in revenue and profit was caused by lower industry volumes in both automotive and tractor segments, the transition to BS-VI and the abrupt lockdown due to the COVID situation, the company told the stock exchanges.
1.30 PM: Market update
Market breadth was negative with 279 stocks rising against 1457 falling on BSE. Number of shares hitting upper circuit in early trade was 97 against 157 hitting lower circuit. 26 shares hit 52 week highs against 14 falling to their 52 week lows.
1.10 PM: Market trades in red
Markets fell today tracking massive global sell off fuelled by concerns over economic recovery and a second coronavirus wave in the US. Experts said weak cues from global markets, foreign fund outflows and rising coronavirus cases worldwide continued to hit domestic investor sentiment.
12. 55PM: HDFC Bank stock price falls over 4%
HDFC Bank stock price fell 4% in trade today after the company board approved plan on raising up to Rs 4,000 crore by issuing bonds on private placement basis. The issue size of the secured redeemable non-convertible debentures, to open on June 15
HDFC Bank shares opened with a loss of 4.09% today and touched an intraday low of Rs 928 on BSE. The stock has fallen 7.87% in one week and 25% since the beginning of the year.
Meanwhile, 'Private Banks' sector has fallen by -2.22%, with Sensex dropping 1.52% intraday. HDFC Bank share price is trading higher than its 20 and 50-day moving averages but lower than 5, 100 and 200-day moving averages.
12.40 PM: SBI Life Insurance shares lose over 2%
SBI Life Insurance shares lost over 2% in early trade today as promoter company SBI is selling 2.1% stake in the life insurer. Share price of SBI Life Insurance fell 2.2% to Rs 725.15 against previous close of Rs 741.45.
The floor price for offer for sale (OFS) is Rs 725 per share. The large cap share trades higher than 20 day and 50 day moving averages but lower than 5 day, 100 day and 200 day moving averages. The stock has gained 8% in one year and fallen 21.62% since the beginning of this year.
12.22 PM: Vodafone Idea tanks almost 14%
The stock price of Vodafone Idea opened lower at Rs 8.46 on Thursday and later fell to the intraday low of Rs 8.11 on BSE, down 13.62% of its earlier close of Rs 9.39. The stock has lost 13.4% returns in the last 2 sessions of continous falls.
Vodafone Idea has expressed its inability to pay the AGR dues in one go. The telco has warned it'll have no option but to shut operations if it pays all its pending dues. The telecom operator this week paid Rs 2,500 crore. So far, the telco has paid Rs 6,900 crore. The company's lawyer Mukul Rohtagi has also stated that the firm does not even have money to pay its employees.
Vodafone Idea's total dues remaining payable amount to Rs 53,000 crore as per DoT, while the company claims it stands at Rs 21,500 crore.
12.00 PM: Gold price falls today
Gold slipped as the dollar strengthened but fears over a fresh coronavirus infections and Federal Reserve's pledge to keep rates low kept fall in price.
11.45 AM: Coronavirus toll
Globally, the number of cases linked to the disease has crossed 75 lakh and the death toll has topped 4.21 lakh.
In India, the death toll due to COVID-19 rose to 8,498 and the number of infections rose to 2.97 lakh, according to the health ministry.
11.32 AM: Market Update
Market indices Sensex and Nifty followed the bearish trend from overseas and opened sharply lower on Friday. Although, by the first hour of session, domestic indices recovered from early losses. BSE Sensex was trading 430 points lower at 33,108 and NSE Nifty was down 132 points at 9,769.
11.22 AM: Oil prices today
Oil price slipped over 7% on weak US economic outlook and signs of second wave of coronavirus which painted a bleak picture of oil demand. Brent crude futures, the global oil benchmark, fell 1.27 per cent to USD 38.06 per barrel.
11.15 AM: Rupee tanks 31 paise to 76.10
The rupee tanked 31 paise to 76.10 per US dollar on Friday's opening bell amid strengthening US dollar, weak domestic equities and sustained foreign fund outflows that weighed on investor's sentiment.
The local unit opened weak at 76.10 at the interbank forex market, slipping 31 paise over its last close of 75.79 against the US dollar on Thursday
As per forex traders, growing concerns about the resurgence in COVID-19 infections in domestic grounds and overseas kept currency investors cautious.
11.10 AM: Market Update
Although, by the first hour of session, domestic indices recovered from early losses to trade almost 1% lower. BSE Sensex was trading 600 points lower at 32,940 and NSE Nifty was down 170 points at 9,735.
11.03 AM: Stocks to watch today on June 12
SBI, Lupin, Oil India, HDFC Asset Management, TVS Srichakra, M&M, Eicher Motors, Hindalco among others are the top stocks to watch out for in Tuesday's trading session.
10.56 AM: Key data to release today
Market participants are also keenly awaiting Consumer Price Index (CPI) and Index of Industrial Production (IIP) data scheduled to be released later in the day for further cues.
10. 43 AM: Sectors today
Bank Nifty lost 675 points to 19,870. All 19 BSE sectoral indices were trading in the red.
10.38 AM: Market capitalisation on BSE fell to Rs 129.63 lakh crore
Investors lost Rs 3.51 lakh crore on June 12 after Sensex and Nifty plunged in early trade amid US markets falling sharply on rising number of coronavirus cases. Market capitalisation on BSE fell to Rs 129.63 lakh crore compared to Rs 133.14 lakh crore on June 11. The erosion in investor wealth came after Sensex declined 741 points to 32,796 points. Nifty lost 224 points or 2.29% to 9,677.
10.22 AM: Global markets in red
Asian markets are trading extremely lower taking cues from an overnight plunge in US markets on fear of a second wave of coronavirus. US markets saw its worst closing since March falling more than 7% on signs of re-emergence of covid cases in US and also as investors digested weak economic data.
10. 12 AM: Ashok Soota gets ready for his second IPO, Happiest Minds files DRHP
Happiest Minds, second technology company promoted by IT industry veteran Ashok Soota, has filed a Draft Red Herring Prospectus (DRHP) to float an Initial Public Offering (IPO). The company is offering equity shares to raise Rs 110 crore. Promoter Ashok Soota and private equity investor JPMorgan Asset Management CMDB II will be selling nearly 84.14 lakh and 2.7 crore shares, respectively. ICICI Securities Limited and Nomura Financial Advisory and Securities (India) Private Limited will be the book running lead managers for the IPO. Ashok Soota currently holds 48.83 per cent stake in Happiest Minds while JP Morgan holds 19.43 per cent.
Top losers and gainer on Sensex
IndusInd Bank, followed by ONGC, Kotak Bank, Axis Bank, NTPC, Bajaj Finance and HDFC were among the top gainers on Sensex pack. On the other hand, Sun Pharma was the sole gainer.
9.49 AM: Market in bearish trend
Domestic market indices continued trading on a bearish note as investors' sentiments were cautious amid rising numbers of coronavirus cases in the country. Markets globally traded on a mixed note today, as investors sentiments were buoyed with many economies re-opening, although kept cautious stance over the fears of a second wave of coronavirus.
9.35 AM: Weak global cues
Losses were milder in Asia than in the U.S. partly because markets in the region have not seen massive gains in recent weeks: outbreaks of the virus, travel disruptions and business shutdowns remain apparent and hopes for a quick rebound more modest.
9.26 AM: Top losers and gainersIndusInd Bank, Tata Motors, ONGC, ZEE Entertainment and Kotak Bank were among the top losers today, while Infratel, Sun Pharma, Vedanta, Bharti Airtel were among the major gainers today.
9.15 AM: Opening bell: Sensex falls over 1000 points
Market indices Sensex and Nifty followed the bearish trend from overseas and opened sharply lower on Friday. BSE Sensex was trading 1,100 points lower at 32,434 and NSE Nifty was down 215 points at 9,902.
9.00 AM: Earnings Today
Companies set to announce their earnings are M&M, Eicher Motors, Hindalco, Goodyear, Castrol India, IOL Chemicals & Pharmaceutical, Geojit Financial Services among others.
8. 40 AM: FII/ DII action
On a net basis, FIIs sold Rs 805 crore in equities, while DIIs offloaded Rs 874 crore in equities on Thursday's session
8.30 AM: Closing
Equity market indices Sensex and Nifty closed sharply lower on Thursday's volatile session, backed by weak Asian and US equities. Sensex ended 708 points lower at 33,538 and Nifty fell 214 points lower at 9,902.