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Share Market Update: Sensex ends 595 points higher, Nifty at 9,490; Eicher Motors, Hero MotoCorp top performers

Stock Market LIVE Updates: Ceat, Agro Tech Foods, Daawat, Federal Bank, Lupin, Muthoot Finance, Radico, TVS Motors, Wendt among others will announce will be reporting their quarterly results today.

twitter-logoBusinessToday.In Last Updated: May 28, 2020 | 16:15 IST
Share Market Update: Sensex ends 595 points higher, Nifty at 9,490; Eicher Motors, Hero MotoCorp top performers
Here's a look at the updates of the market action on BSE and NSE today

Sensex, Nifty Updates: Benchmark Sensex and Nifty closed higher on Thursday, the F&O expiry day, on back of positive global trend amid heavy buying in banking and financial stocks. Extending gains for the second straight session, Sensex ended 595 points higher at 32,200 and Nifty rose 175 points to 9,490. Yesterday, Sensex closed 995 points higher at 31,605 and Nifty ended 285 points higher at 9,314. Companies set to announce their earnings are Ceat, Agro Tech Foods, Daawat, Federal Bank, Lupin, Muthoot Finance, Radico, TVS Motors, Wendt among others.

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 closed higher on Thursday, the F&O expiry day, on back of positive global trend amid heavy buying in banking and financial stocks. Extending gains for the second straight session, Sensex ended 595 points higher at 32,200 and Nifty rose 175 points to 9,490.

3.32 PM: Sun Pharma share price gains over 2%

Sun Pharma share price touched an intraday high of Rs 460.6, rising 2.23% on BSE today. The company announced that it has entered into a in licence agreement with SPARC for SCD-044, a potential treatment for Atopic Dermatitis, Psoriasis and will pay SPARC an upfront payment of $20 m for SCD-044 agreement. SPARC is also eligible to receive up to $125 m as milestone payment.

3.27 PM: Rupee ends weaker

On the currency front, rupee ended on a weaker note at 75.75 per dollar as compred to last closing of 75.72 per dollar.

3. 18 PM: Federal Bank share price Q4

Federal Bank share price gained over 2% to the high of Rs 42.30

after the lender reported its Q4 earnings today.

The company reported a 22% fall in profit before tax at Rs 301 crore during the quarter ended March 31, 2020, as against Rs 381 during the same period last year.

Company's NII gained 10% (YoY) at Rs 1,216 crore in the January-March quarter of the current fiscal as compared to Rs 1,095 crore in a year-ago period.

3.00 PM: Tube Investments of India share price climbs 10% post results

Tube Investments of India share price opened with a gain of 3.16% today and later rose 9.99% to an intraday high of Rs 341.2 on BSE after reporting quarterly results.

The company reported a 26% rise in profit before tax at Rs 108 crore during the quarter ended March 31, 2020.

Company's total income lower (YoY) at Rs 935 crore in the January-March quarter of the current fiscal as compared to Rs 1224 crore in a year-ago period.

2.47 PM: Gold prices flat today

Gold price continued to move down on hopes of economic recovery as countries eased lockdown restrictions. Although U.S.-China tensions kept prices under check.

Anuj Gupta  DVP Commodities and Currencies Research, Angel Broking said,"Traders can buy MCX Gold June contract at Rs 46300 to 46400 levels, with the stop-loss of 45950 levels for the target of 46900 to 47000 levels."

2. 34 PM: Radico Khaitan share price up 2% post result

Radico Khaitan share price gained 2% to the day's high Rs 323.9 on BSE, after the company posted loss in its Q4 result today.

The company reported a 1.8% fall in profit at Rs 38 crore during the quarter ended March 31, 2020, as against Rs 39 crore, recorded in a year-ago period. Company's total income rose 15% (YoY) to Rs 585 crore in the January-March quarter of the current fiscal as compared to Rs 510 crore in a year-ago period.

2.19 PM: Prism Johnson share price drops 2% post result

Prism Johnson share price fell 2% lower to Rs 33 on BSE, after the company posted loss in its Q4 result today.

The company reported a net loss of Rs 45 crore during the quarter ended March 31, 2020, as against profit of Rs 45.5 crore, recorded in a year-ago period. Company's total income fell 15% (YoY) to Rs 1,483 crore in the January-March quarter of the current fiscal as compared to Rs 1,754 crore in a year-ago period.

2.05 PM: Steel Strips share price up 4%

Steel Strips share price gained over 4% to the intraday high of Rs 346 on BSE after the company announced that the company has bagged an export order worth around Euro 150,000 from EU & US.

1.54PM: Dabur India share price gains over 4% post result

Dabur India share price gained 4.42% to an intraday high of Rs 447.7 on BSE, after reporting quarterly results.

The company reported 24% drop in its net profit at Rs 281 crore during the quarter ended March 31, 2020, as against profit of Rs 370 crore, recorded in a year-ago period.

Company's total income fell 12% (YoY) to Rs 1,865 crore in the January-March quarter of the current fiscal as compared to Rs 2,128 crore in a year ago period.

What's behind the rally in Dabur India share despite 24% fall in Q4 net profit

1.36 PM: Why global markets are in green

Asian markets are trading higher, tracking U.S. markets that closed higher, driven by rising optimism from easing restrictions and re-opening of economies. Sentiments were boosted by "return to work" cash bonuses announced recently. However, S&P expects credit profiles to erode further.

European markets also opened higher on Thursday led by Germany, France and U.K. as investors digested European Commission's plan for a 750 billion Euro recovery fund.

1.18 PM: United Spirits share price drops 3.55% post result

United Spirits share price opened with a loss of 2.86% today and later fell 3.55% to the intraday low of Rs 557.3 on BSE, after reporting quarterly results.

 The company reported 52% drop in its net profit at Rs 58 crore during the quarter ended March 31, 2020, as against profit of Rs 123 crore, recorded in a year-ago period.

Company's total income fell 12% (YoY) to Rs 6,426 crore in the January-March quarter of the current fiscal as compared to Rs 7,292 crore in a year ago period.

12. 47 PM: Axis Bank share gains today

Axis Bank share hit intra day high of Rs 407.25 today rising 5.14% compared to the previous close of Rs 387.35 on BSE. The stock has gained nearly 21% in three days amid report that Global private equity (PE) firm Carlyle Group is likely to make an investment of around $1 billion in the private sector lender.

Why Axis Bank share price has gained 21% in three days

12.33 PM: Earnings Today

Ceat, Agro Tech Foods, Daawat, Federal Bank, Lupin, Muthoot Finance, Radico, TVS Motors, Wendt, IIFL, Heidelberg, Tata Steel Long Products, Hindusthan National Glass & Industries, Prism Johnson, Inditrade Capital, Expleo Solutions, Chembond Chemicals among others will announce their Q4 results today

12.20 PM: Ujjivan Financial Services share price gains 12%

Ujjivan Financial Services share price opened with a gain of 2.3% and later gained 12.21% to an intraday high of Rs 175.5 on BSE, after reporting quarterly results.

The company reported 48% rise in its net profit at Rs 64 crore during the quarter ended March 31, 2020, as against profit of Rs 43 crore, recorded in a year-ago period.

Company's total income grew 36% (YoY) to Rs 805 crore in the January-March quarter of the current fiscal as compared to Rs 590 crore in a year ago period.

12.00 PM: Market rises further

Benchmark Sensex and Nifty climbed higher on Thursday, the F&O expiry day, on back of positive global trend amid heavy buying in banking and financial stocks. Sensex traded 530 points higher at 32,140 and Nifty rose 150 points to 9,464.

11.45 AM: Gold trades flat today

Gold investors have shrugged off geopolitical risks and instead are focussing on optimism around the re-opening of the world economy, paring their holdings of the safe-haven metal. Gold prices extended overnight losses and spot gold on Thursday traded at $1,708.60 per ounce.

Expressing views on gold, Anuj Gupta  DVP Commodities and Currencies Research, Angel Broking said,"Today MCX gold prices are trading on a flat note however yesterday prices had increased by 0.45% and closed at Rs 46531 levels. In international market gold is trading around  $1715 per ounces. Tension between US and China and weakness in dollar are the supporting factor for the gold. Dollar Index is depreciating against major currencies and it is trading around 98.96 levels which is the lowest level in the last 5 weeks."

11.24 AM: Rupee trades lower

The rupee, the local currency fell 19 paise to 75.90 against the US dollar on Thursday, tracking weak Asian currencies amid escalation of tension between the US and China.

Rupee falls 19 paise to 75.90 per dollar amid weak Asian currencies, US-China trade tensions

11.00 AM: Delta Corp share price hits 20%

Delta Corp share price has been hitting upper circuit of 5% since May 20 leading to a rise of 27.47% in five trading sessions.

Ace investor Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold 7.38% stake in Delta Corp.

Delta Corp share price has gained over 27% in last five sessions. The stock of country's largest gaming and casino player seems to be rising on the back of report that Goa tourism department will seek financial help from the Centre for the industry stakeholders to overcome the crisis they are facing due to the coronavirus outbreak. The company owns three casinos in Goa. 

10.37 AM: Oil prices today

Oil futures took a beating on Thursday as investors fretted about Trump's response to China. Trump said he'd announce a response to China's policies towards Hong Kong later this week.

U.S. crude oil futures fell 2.68% to $31.93.

10.20 AM: Coronavirus toll

Globally, there are 56.93 lakh infected cases and 3.55 lakh deceased from the coronavirus pandemic.

India recorded 6,566 fresh coronavirus cases and 194 deaths in the last 24 hours taking the country's tally past 1.58 lakh,  including 86,110 active cases, 67,691 recoveries, 1 migrated, and 4,531 deaths.

Tamil Nadu records highest 1-day spike with 817 new COVID-19 cases in 24 hours

9.52 AM: Global cues

Asian stocks continued yesterday's climb over growing optimism about economic recovery from the coronavirus pandemic, offsetting the immediate concerns about a standoff between US and China over Hong Kong.

Wall Street stocks surged yesterday, as investors grew more optimistic about the economy reopening. US Futures (Dow Jones) traded at 25724, up 190 points or 0.74%.

US stock futures, Asian shares gain on hopes of world economic recovery

9.43AM: Market rises further

Benchmark Sensex and Nifty climbed higher on Thursday, the F&O expiry day, on back of positive global trend amid heavy buying in banking and financial stocks. Sensex traded 350 points higher at 31,973 and Nifty rose 101 points to 9,424.

9. 30 AM: Earnings today

Companies set to announce their earnings today are Ceat, Agro Tech Foods, Daawat, Federal Bank, Lupin, Muthoot Finance, Radico, TVS Motors, Wendt among others.

9.20 AM: Opening bell

Benchmark Sensex and Nifty opened higher on Thursday on back of positive global trend, amid heavy buying in banking and financial stocks. Sensex opened 200 points higher at 31,810 and Nifty rose 35 points to 9,350.

9.10 AM: Stocks to watch today on May 28

Ujjivan Financial, United Spirits, Wendt, Ceat, Federal Bank, Lupin, TVS Motor among others are the top stocks to watch out for in Thursday's trading session

Stocks in news: Ujjivan Financial, United Spirits, Wendt, Ceat, Federal Bank, Lupin, TVS Motor and more

9.00 AM: Nifty outlook

As per technical indicators Nifty turned from mix to bullish, which could lead the index towards 9,500 and 9,600 levels. In case of any decline, NIFTY will find supports around 9,000 mark and then at 8,800 level.

As for the day, Nifty's support is placed at around 9,140 and then at 9,000 levels, while resistance is observed at 9,430 and then at 9,500 levels.

8. 50 AM: Rupee closing

On the currency front, rupee ended at 75.62 per dollar compared to its earlier close of 75.66 per dollar

8. 40 AM: FII, DII Action

On a net basis, FIIs sold Rs 334.74 crore while DIIs bought Rs 2,408.85 crore worth in equities on Wednesday

8. 30 AM:  Closing bell

Benchmark Sensex and Nifty closed majorly bullish on Wednesday, on back of positive overseas markets, buying pressure in banking and financials and better than estimate earnings. Reversing from two days of straight losses, Sensex closed 995 points higher at 31,605, Nifty ended 285 points higher at 9,314.

Sensex ends 995 points higher on short covering, banking stocks outperform

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