Share Market Update: Equity market benchmarks Sensex and Nifty gained strongly on Wednesday, tracking overseas trend, and closed 0.90% higher. BSE 30-share S&P Sensex closed 170 points higher at 40,970 and NSE 50-share index Nifty50 ended 55 points higher at 12,035. In terms of sectors, except media, all the indices closed in the green, with realty index rising over 2%. Internationally, Asian markets traded higher today over hopes of additional Chinese stimulus to lessen the economic impact of a coronavirus outbreak, the death toll from which has neared 500. US stocks rose led by gains in technology heavyweights with fresh intervention by China's central bank calming investor nerves.
Here's a look at the live updates of the market action on BSE and NSE today:
3: 45 PM
Equity market benchmark Sensex and Nifty gained strongly on Wednesday, tracking overseas trend, and closed 0.90% higher each by the closing bell. BSE 30-share S&P Sensex traded 170 points higher at 40,970 and NSE 50-share index Nifty50 climbed 55 points higher at 12,035.
Zydus Wellness Q3 earnings out
2: 45 PM
Profit of the company registered (YoY) at Rs 4.2 crore during the quarter ended December 31, 2019, as against a loss of Rs 12 crore, booked in the corresponding quarter in the previous year. Total revenue rose 2% (YoY) to Rs 332.7 crore in the October-December quarter of the current fiscal as compared to Rs 326 crore in the same period last financial year.Company'sEBITDA stood at Rs 32 crore in Q3 FY20 from Rs 20 crore in Q3 FY19, rising 60.3% yearly.
Apollo Tyres Q3 result out
2: 35 PM
The company reported 12.2% fall (YoY) in consolidated net profit to Rs 173 crore during the quarter ended December 31, 2019 as against Rs 198 crore, recorded in a year-ago period.
Total income declined 6.8% (YoY) to Rs 4,399 crore in the October-December quarter of the current fiscal as compared to Rs 4,718 crore in the same period last financial year.
Yes Bank share price jumps 14% ahead of extraordinary general meeting
2: 15 PM
Yes Bank share price gained nearly 14% on Wednesday, ahead of extraordinary general meeting, scheduled for 7 February 2020. The bank has called upon an extraordinary general meeting of its shareholders on February 7, 2020, in Mumbai, to increase authorised capital.
Reversing trend after 3 days of fall, YES Bank share price hit an intraday high of Rs 39.75, rising 13.73% on BSE. Volume-wise, 132.48 lakh and 2,271 lakh shares were trading on BSE and NSE, respectively. The market cap of the private sector lender stood at Rs 8,799 crore on BSE. The stock has traded in a wide range of Rs 5.65 as it hit an intraday low of Rs 34.1, falling 2.43%.
Bosch reports Q3, shares decline
12: 45 PM
Shares of Bosch fell from the high point of the day, declining 0.49% at Rs 13,930 after the company posted December quarterly results today.
The company reported 43 % fall (YoY) in consolidated net profit to Rs 190 crore during the quarter ended December 31, 2019 as against Rs 335 crore, recorded in a year-ago period, on back of a one-time loss of Rs 207 crore
Total income fell 15.7 (YoY) to Rs 2,536 crore in the October-December quarter of the current fiscal as compared to Rs 3,008 crore in the same period last financial year.
Total EBITDA registered a de-growth of 22%(YoY) at Rs 320 crore during the quarter ended December 31, 2019, from Rs 411 crore, booked in the corresponding quarter in the previous year
Margin on a yearly basis stood at 12.6% in Q3 FY20 from 13.7% in Q3 FY19, declining 110 bps.
India's January services PMI rises to 7-year high
12: 30 PM
India's service sector started the new year on a strong note as activity accelerated to seven-year high in January, raising hopes of an economic recovery, a private survey showed on Wednesday. With surging demand and rise in output, job creation was sustained and business optimism was also maintained, the report said.
The IHS Markit India Services Business Activity Index increased to 55.5 in January compared to 53.3 in December, signalled the strongest upturn since January 2013, IHS Markit said in its report.
Rupee trades at 71.17
11: 35 AM
The Indian rupee appreciated by 8 paise to 71.17 against the US dollar in early trade on Wednesday tracking gains in domestic equity market and fresh foreign fund inflows. At the interbank foreign exchange the rupee opened at 71.25 and touched a high of 71.17, registering a rise of 8 paise over its previous close. On Tuesday, rupee had settled for the day at 71.25 against the US dollar.
RBI MPC meet on its second day
11: 30 AM
The Reserve Bank of India (RBI) is scheduled to announce the outcome of its sixth bi-monthly monetary policy statement for 2019-20 on February 6, 2020. Traders said market participants are awaiting cues from the Reserve Bank of India's monetary policy outcome. RBI's commentary on inflation and growth forecast will be followed closely by the investors, they said.
FII and DII action on Tuesday
11: 15 AM
On a net basis, foreign institutional investors bought equities worth Rs 366.21 crore, while domestic institutional investors purchased shares worth Rs 601.86 crore on Tuesday, data available with stock exchanges showed.
Cadila Healthcare Q3FY20 estimates
11: 00 AM
Revenues is expected to be at Rs 3,400 crore, PAT for the quarter may come in at Rs 325 crore, EBITDA likely to record at Rs 641 crore, with margins at 18.9%, as per market analysts.
Cipla Q3FY20 estimates
10: 45 AM
Revenues is expected to be at Rs 4,365 crore, PAT for the quarter may come in at Rs 431 crore, EBITDA likely to record at Rs 858 crore, with margins at 19.6%, as per market analysts.
10: 35 AM
Equity market benchmark Sensex and Nifty extended gains for the secth staight session on Wednesday,tracking gains in index-heavyweights Reliance Industries, HDFC Bank and Axis Bank amid firm recovery in global equities.BSE 30-share S&P Sensex traded 200 points higher at 40,990 and NSE 50-share index Nifty50 climbed 62 points higher at 12,042.
According to analysts, markets were trading in the positive territory on the back of encouraging data points related to the domestic economy.
Other factors like substantial fall in crude prices, a rise in Indian rupee and positive Asian markets also helped the market move higher, they added.
Top gainers and losers
10: 30 AM
Mahindra and Mahindra, Bajaj Auto, Bharti Airtel, HCL Tech and L&T were among the top gainers in the Sensex pack. While ITC, Infosys, Hero MotoCorp, Asian Paints, Titan, UltraTech Cement and HDFC were trading in the red.
Cadila rises 3%
10: 20 AM
Cadila shares touched an intraday high of Rs 272.55, rising 3.22% on Wednesday after the company informed that USFDA has completed inspection of company's Alidac Pharmaceutical unit in Ahmedabad with no observation. The company is also set to announce quarterly results today.
Bharti Airtel hits new 52-week high post Q3 results
10: 10 AM
Shares of Bharti Airtel rose nearly 2% higher to a fresh 52-week high of Rs 529 on BSE today. The company's consolidated net loss for the December quarter stood at Rs 1,035 crore, as against 86 crore profit reported in December 2018. Airtel's consolidated revenues grew 10.5% YoY for Q3 at Rs 21,947 crore, while India revenues rose 9.7% to Rs 15,797 crore.
TVS Motor rises over 3% post Q3 result
10: 05 AM
TVS Motor stock price rose 3.5% on Wednesday despite the company reported consolidated net profit of Rs 121 crore in October-December period, down 32% as against Rs 178 crore recorded in a year ago period.
Tata Global Beverages rises post Q3 earnings
9: 55 AM
Tata Global Beverages rose over 6% after company's Q3 net profit came in 21% higher at Rs 120 crore during the quarter ended December 31, 2019 as against Rs 99 crore, recorded in a year-ago period. Total income rose 2.6% (YoY) to Rs 1,962 crore in the October-December quarter of the current fiscal as compared to Rs 1,913 crore in the same period last financial year.
9: 40 AM
Reversing trend, Oil futures rose on Wednesday, up 44 cents, or 0.8%, to $54.40 a barrel. China, the world's biggest crude oil importer, has been the main driver of global energy demand growth in recent years. Oil, however, remained weak on worries of the coronavirus plague continues to spread amongst the investors. Fears of a virus-related slump in global demand have flipped the oil market with futures falling more than 1% in a week.
Global market scenario
9: 30 AM
Marking a second day of recovery from a coronavirus-driven sellfoff last week, world markets traded higher over hopes of additional Chinese stimulus to lessen the economic impact of a coronavirus outbreak, the death toll from which has neared 500. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 percent and Japan's Nikkei stock index rose 1.19 percent.
Q3 Earnings Today
9: 15 AM
Adani Enterprises, Adani Gas, Apollo tyre, Indiabulls Housing Finance, Andhra Bank, Bosch, Calida Healthcare, Berger Paints, DLF, Cipla, Ajanta Pharma, Engineers India, Everest Organics, Godrej Agrovet, Greaves Cotton, Hindustan Petroleum, Gujrat Gas, Kaveri Seed, Quick Heal Technologies, PNC Infratech, Max Financial Services, Matrimony.com, Tata Teleservices (Maharashtra), V-Mart Retail, Zydus Wellness among others will release their December quarterly results today.
Equity market benchmark Sensex and Nifty started higher on Wednesday's trade, with both BSE and NSE indices rising 0.2% each.
Stocks to watch today on February 5
8: 50 AM
Airtel, TVS Motors, Adani Enterprises, Adani Gas, Indiabulls Housing, Bosch, Cipla, Berger Paints, DLF, among others are the top stocks to watch out for in Wednesday's trading session
8: 45 AMEquity benchmarks Sensex and Nifty gained strongly on Tuesday, backed by gains in index-heavyweights and closed 2.3% higher by the closing session. BSE 30-share S&P Sensex closed 917 points higher at 40,789 and NSE 50-share index Nifty50 climbed 271 points higher at 11,979. In terms of sector, all the indices closed in the green today.