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Share Market Update: Sensex ends 83 points higher, Nifty at 10,167; Axis Bank, IndusInd Bank, BPCL, IOC top performers

Stock Market LIVE Updates: IndusInd Bank, Titan, Axis Bank, SBI, Bajaj Finance, ONGC, ICICI Bank, L&T, HDFC Bank and NTPC were among the rising stocks on BSE Sensex. On the other hand, Sun Pharma and Bharti Aurtel were among the top laggards.

twitter-logoBusinessToday.In | June 8, 2020 | Updated 16:21 IST
Share Market Update: Sensex ends 83 points higher, Nifty at 10,167; Axis Bank, IndusInd Bank, BPCL, IOC top performers
Here's a look at the updates of the market action on BSE and NSE today

Sensex, Nifty Updates: Equity market indices Sensex and Nifty erased early gains and closed marginally higher by Monday, tracking weak cues from overseas. SGX Nifty turned negative and fell 10 points lower as European indices tarted the day in the negative. Sensex ended 83 points higher at 34,370 and Nifty climbed 25 points higher to 10,167. Meanwhile, companies set to announce their earnings are Abbott India, Hero MotoCorp, Inox Leisure, PVR, GSPL, Titan, Bombay Dyeing, Kaycee Industries, Graphite India.

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

3.45 PM: Closing bell

Equity market indices Sensex and Nifty erased early gains and closed marginally higher by Monday, tracking weak cues from overseas. SGX Nifty turned negative and fell 10 points lower as European indices tarted the day in the negative. Sensex ended 83 points higher at 34,370 and Nifty climbed 25 points higher to 10,167.

3.38 PM: Atlas Cycles share price falls almost 5%

Atlas Cycles share price touched an intraday low of Rs 41.2, falling 4.96% on BSE after the company said it has closed operations at its last manufacturing unit in Sahibabad, near Delhi, citing lack of funds to run operations of the factory.

3.24 PM: Coal India share price gains over 2%

Coal India share price opened with a gain of 2.17% today and later touched an intraday high of Rs 148.8, rising 2.73% on BSE today.

The company has set an ambitious target of 100 million tonnes (MT) production by 2026-27 and plans to set up 20 more mines in the next four years, Union Minister Nitin Gadkari said on Saturday.

3. 10 PM: Jyothy Labs share price falls marginally post result

Jyothy Labs share price were trading marginally lower today after the company reported its quarter results.

The company reported a 58% fall in profit at Rs 28.8 crore during the quarter ended March 31, 2020, as against Rs 69 crore, recorded in a year-ago period. Company's total income fell 23% (YoY) to Rs 393 crore in the January-March quarter of the current fiscal as compared to Rs 516 crore in a year-ago period.

2. 54 PM: Market update

Sensex was trading 57 points higher at 34,344 and Nifty climbed 14 points higher to 10,156.

2. 40 PM: Hero MotoCorp shares rise over 4% ahead of Q4 earnings

Hero MotoCorp shares were trading 4% higher on Monday, ahead of its quarterly results, scheduled to be released later in the day. The share price of Hero MotoCorp on Monday touched an intraday high of Rs 2439.2, rising 4.18%, as compared to the earlier closing of Rs 2,341 on BSE.

Hero MotoCorp stock has gained 4.46% returns in the last 3 sessions of straight gains. Hero MotoCorp share price is trading higher than 5, 20, 50, 100 and 200-day moving averages.

Hero MotoCorp stock price has risen 2.78% in one week and 21.9% in one month. The market capitalisation of the stock stood at Rs 47,778.66 crore as of today's session.

2.24 PM:  Mahindra and Mahindra shares decline today

Mahindra and Mahindra shares were falling 1.6% lower at Rs 476 as the company said it has alloted NCDs worth Rs 500 crore

Company informed the exchanges that it has allotted 6.19% 5,000 no.s of rated, listed, unsecured, redeemable non-convertible debentures of Rs 10,00,000 each for cash at par, aggregating Rs.500 crores on private placement basis.

2.02 PM: Aditya Birla Capital shares rise post results

Aditya Birla Capital shares were rising 1.25% in today's trade to Rs 56.05 on BSE, after the company posted its March quarter results.

The company reported a 44% fall in profit at Rs 144 crore during the quarter ended March 31, 2020, as against Rs 258 crore, recorded in a year-ago period. Company's total income rose 2.2% (YoY) to Rs 5,122 crore in the January-March quarter of the current fiscal as compared to Rs 5,050 crore in a year-ago period. Company's order inflow stood at Rs 57,785 crore.

1.52 PM: Lupin share price declines 2.36%

Lupin share price fell 2.36% in today trade and touched an intraday low of Rs 881 on BSE, amid fall in the pharma sector. This was despite company announcing that USFDA granted Mexiletine Orphan Drug Designation to mexiletine hydrochloride for the treatment of myotonic disorders.

1.40 PM: Market erases early gains

Equity market indices Sensex and Nifty erased early gains and traded marginally higher by Monday's afternoon, tracking weak cues from overseas. SGX Nifty turned negative and fell 10 points lower as European indices tarted the day in the negative. Sensex was trading 129 points higher at 34,416 and Nifty climbed 30 points higher to 10,173. Europena indices opened lower today and weakened the overall global sentiments.

1.30 PM: Rupee trades flat ahead of Fed meet outcome

Indian Rupee, the local currency opened at 75.59 against the US dollar, down 1 paisa over its previous close of 75.58 against the greenback on Friday. Forex traders said the rupee movement was largely in tandem with other Asian currencies. This was despite a positive opening in domestic equities.

Rupee vs Dollar: Rupee opens flat at 75.59 per dollar ahead of Federal Reserve meet outcome

1.22 PM: Vodafone Idea share rise 20%

Shares of Vodafone Idea were trading higher for the tenth straight session on Monday. The stock price of VodafoneIdea  opened with a gain of 9.98% today and later touched an intraday high of Rs 12.62, rising 19.96% on BSE in the early morning trade.

The Vodafone Idea stock price of the telecom company has zoomed 129% in the past 10 sessions, from the level of Rs 5.50 hit on May 26,2020.

The stock has traded in a wide range of Rs 1.4 in today's session, with an intraday volatility of 5.7%.

Vodafone Idea share price rises 20%, gains 129% in last 10 sessions

1.00 PM: IndusInd Bank share price  top gainer on NSE

IndusInd Bank share price rose 10% today after its promoters said they would buy additional shares from the open market. Share price of IndusInd Bank rose 9.73% intraday to Rs 463.5. Earlier, shares of IndusInd Bank opened 7.68% higher at Rs 455 against previous close of Rs 422.55 on BSE. The large cap stock was top gainer on Sensex. Share price of IndusInd Bank has gained 10.79% in the last 2 days. However, it has lost 70% since the beginning of the year and fallen 70.34% in the last one year.

IndusInd Bank share price rises 10% as promoters to buy additional shares

12. 48 PM: Gold falls in international markets

Gold price fell over 2% on Monday, on the back of stronger than expected U.S. non-farm payrolls data hinting at economic recovery making equities more favoured.

12.30 PM: Q4 Earnings today

Abbott India, Hero MotoCorp, Inox Leisure, PVR, GSPL, Titan, Bombay Dyeing, Kaycee Industries, Graphite India, PSP Projects, Tata Steel Long Products, MRPL, KRBL among others

12.10 PM:  Oil price rise today

Oil price jumped higher on Monday's trade after OPEC+ decided to extend output cuts to end of July. Brent crude futures, International oil benchmark was rising 1.47% to USD 42.92 per barrel.

11.43 AM: Expert outlook

Expressing views on market trend, Ajit Mishra, VP - Research, Religare Broking said, "Markets continue to build on strong gains of the last week and surged nearly 6% led by positive global cues. The recovery was broad-based as noticeable buying interest was witnessed in the midcap and smallcap front. Apart from the favorable global cues, the government guidelines towards gradual reopening the economy also boosted the sentiments. Moreover, the better than expected auto sales numbers and normal monsoon forecast added to the buoyancy as the week progressed."

11. 33 AM: Top gainers and losers

IndusInd Bank, Titan, Axis Bank, SBI, Bajaj Finance, ONGC, ICICI Bank, L&T, HDFC Bank and NTPC were among the rising stocks on BSE Sensex. On the other hand, Sun Pharma and Bharti Aurtel were among the top laggards.

11.20 AM: PVR stock price falls over 2% ahead of earnings

PVR share price was trading lower ahead of the firm's Q4 earnings to be announced later in the day.  Share price of PVR opened with a gain of 8.66% at Rs 1,349 against previous close of Rs 1,241.50 on BSE. At 10: 16 am, the share was trading 2.32% or Rs 28.75 lower at Rs 1212. The Q4 earnings and outlook of the firm assume significance since movie theatres remain closed till date from March 25 due to rising number of coronavirus cases.

PVR share trading lower ahead of Q4 earnings

11.11 AM: Stocks to watch today on June

L&T, Reliance Industries, Exide, Jyothi Labs, Coal India, IOL, Hero MotoCorp among others are the top stocks to watch out for in Monday's trading session

Stocks in news: L&T, Reliance Industries, Exide, Jyothi Labs, Coal India, IOL, Hero MotoCorp and more

11.00 AM: Rupee opens flat

Rupee opened on a flat note on Monday and slipped 1 paisa to 75.59 against US dollar in early trade.

10.46 AM: Global cues

Globally indices turned green as investors turned optimistic over prospects of more government stimulus and eased lockdown restrictions across the world

Asian markets were trading higher on Monday, tracking positivity in US futures. Wall Street closed higher on Friday after jobs data showed unexpected rise raising hopes that the economy has started to show signs of recovery. Taking cues from the US jobs data, European indices also closed higher.

Meanwhile, U.K. consumer confidence data fell to the lowest level since financial crisis and retail sales fell 18%.

10.38 AM: Nifty outlook

Expresssing views on Nifty's near term Nifty outlook, Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking said, "Last week, although we struggled at 10200, the positioning of RSI-Smoothened indicates possibility of extending this move towards 10500-10700 levels. Hence traders are continuously advised to stay on the positive side as long as 9900 is being held."

He added," Our markets continued their upwards trajectory to enter a five digit territory beyond 10000 after nearly three months. After a good head start, markets took a pause and saw some profit booking for couple of days. But without much damage, the buying re-emerged at lower levels on Friday to conclude the week with whopping 6% gains from the previous weekly close."

10.27 AM: ICICI Bank share price gains over 4%

ICICI Bank share price opened with a gain of 2.2% today and later touched an intraday high of Rs 373.85, rising 4.65% on BSE. The stock settled at Rs 375.25 on Friday's trade.

The stock has risen 5.83% in the last 2 days of trade. Meanwhile, 'Private Banks' sector has gained by 2.8%, with Sensex rising 1.42% intraday.

ICICI Bank stock has risen 8.92% in one week, 9.33% in  one month. Although, the stock has fallen 31.46% since the beginning of the year. The stock is trading higher than 5, 20 and 50-day but lower than 100 and 200-day moving averages.

ICICI Bank share price gains over 4%; brokerages upbeat over outlook

10.18 AM: Exide Industries share price

Exide Industries share price  opened with a loss of 2.31% today and later touched an intraday low of Rs 158.5, falling 8.38% on BSE after reporting its March quarterly results.

The company reported a 22% fall in profit at Rs 235.6 crore during the quarter ended March 31, 2020, as against Rs 302.9 crore, recorded in a year-ago period. Company's total income fell 18.3% (YoY) to Rs 3,474 crore in the January-March quarter of the current fiscal as compared to Rs 4,251 crore in a year-ago period.

9.57 AM: L&T stock rises over 4% post results

L&T stock price opened with a gain of 2.17% today and later touched an intraday high of Rs 995, rising 4.16% on BSE.

The company reported a 6.5% fall in profit at Rs 3,197 crore during the quarter ended March 31, 2020, as against Rs 3,418 crore, recorded in a year-ago period. Company's total income rose 2.2% (YoY) to Rs 44,245 crore in the January-March quarter of the current fiscal as compared to Rs 43,303 crore in a year-ago period. Company's order inflow stood at Rs 57,785 crore.

9.41 AM: Reliance Industries stock price gains over 2.75%

Reliance Industries stock price opened with a gain of 2.75% today to touch an intraday high of Rs 1.624 on BSE today. This was following the news thatAbu Dhabi Investment Authority has announced an investment of Rs 5,683.5 crore for a 1.16% stake in the company's Jio Platforms. This will be the eighth announcement for an investment for Jio Platforms in less than seven weeks.

Meanwhile, Silver Lake has also announced investment of Rs 10,202.55 crore for a 2.08% stake in Jio Platforms. Overall, Jio Platforms has raised Rs 92,202.15 crore from leading tech investors in less than 6 weeks.

Reliance Industries share price hits 52-week high on stake sale in Jio Platforms to Abu Dhabi Investment Authority

9.35 AM: SBI share price top gainer on NSE

SBI share price was trading 8.73% higher on NSE today as the lender reported its March quarterly results.

SBI reported standalone net profit of Rs 3,580.81 crore for March quarter 2019-20 against profit of Rs 838.4 crore during January-March period of 2018-19. Net income during March quarter rose to Rs 76,027.51 crore from Rs 75,670.5 crore in the same period of 2018-19, SBI said. On the asset front, gross non performing assets (NPAs) of the bank improved at 6.15 per cent of gross advances as on March 31, 2020 as against 7.53 per cent by the same period of 2019.

9.22 AM: Opening Bell

Sensex opened 507 points higher at 34,843 and Nifty climbed 113 points higher to 10,412.

On Friday, Sensex ended 306 points higher at 34,287 and Nifty closed 113 points higher to 10,142. Experts said Reliance Jio deals, coupled with positive cues from Asian peers and persistent foreign fund inflow led to bullish sentiment in the overall market. Market were rising today as optimism from opening of lockdown restrictions that offset the prevailing uncertain market conditions amid the rising cases of the virus in domestic grounds.

9.20 AM:Coronavirus Toll

Total coronavirus cases in India stand at 2,46,628, after cases rise by 9,971 in the last 24 hours

9. 10 AM: Market Update

Sensex pre opened 556 points higher at 34,843 and Nifty climbed 113 points higher to 10,412.

Experts said market were rising today as optimism from opening of lockdown restrictions that offset the prevailing uncertain market conditions amid the rising cases of the virus in domestic grounds. Globally indices turned green as investors turned optimistic over prospects of more government stimulus and eased lockdown restrictions across the world.

9.00 AM: FII/ DII action

On a net basis, FIIs bought Rs 98 crore and DIIs also bought Rs 47 crore worth in equities in Friday

8.50 AM: Earnings today

Abbott India, Hero MotoCorp, Inox Leisure, PVR, GSPL, Titan, Bombay Dyeing, Kaycee Industries, Graphite India, PSP Projects, Tata Steel Long Products, MRPL, KRBL among others

8. 40 AM: Market Expectations

Equity market indices Sensex and Nifty are likely to open higher on Monday, amid strong global cues. SGX Nifty also traded 104 points higher at 10, 280, indicating bullish start at domestic grounds today.

8.30 AM: Closing on Friday

Equity market indices Sensex and Nifty closed on a bullish note Friday, in line with key Asian equities, amid heavy buying in metal, media and banking scrips. Sensex ended 306 points higher at 34,287 and Nifty was rising 113 points higher to 10,142.

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