Share Market Update: Equity market indices Sensex and Nifty closed 1% lower on Monday, tracking bearish trend from overseas amid the fresh concerns of the coronavirus outbreak. BSE S&P Sensex ended 458 points lower at 41,155 and NSE Nifty50 traded 129 points lower to end at 12,115. In terms of sectors, except pharma, all the other indices traded in the red today. Companies set to announce their earnings are IndiGo, United Spirits, HDFC, Torrent Pharma, TTK Prestige. Domestic market followed bearish trend from overseas on Monday, amid October-December quarter earnings season, as market participants kept a wary eye on developments around the latest coronavirus outbreak, that has infected more than 2,700 people globally and killed 80 in China. The ability of the coronavirus to spread is getting stronger and infections could continue to rise, China's National Health Commission said on Sunday.
Here's a look at the live updates of the market action on BSE and NSE today:
3: 45 PM
Sensex and Nifty closed 1% lower on Monday, tracking bearish trend from overseas amid the fresh concerns of the coronavirus outbreak. BSE S&P Sensex ended 458 points lower at 41,155 and NSE Nifty50 traded 129 points lower to end at 12,115. In terms of sectors, except pharma, all the other indices traded in the red today.
Wockhardt rises 20% post Q2 result
3: 25 PM
Wockhardt's consolidated net profit stood at Rs 9.6 crore in the quarter ended 31 December 2019, as compared to loss of Rs 71.1 crore (YoY) during the same period previous year. Company's revenue fell 16.9% to Rs 869 crore in Q3 FY20 as compared to Rs 1,045 crore during Q3 FY19 on a yearly basis. Company's other income stood in October-December quarter at Rs 17.2 crore from Rs 2.1 crore (YoY) in the same period last fiscal. Following the results, Wockhardt shares rose 20% to the intraday high of Rs 385.85 on BSE.
Equity market indices fell over 1% each on Monday, tracking bearish overseas trend amid the fresh concerns of the coronavirus outbreak. BSE S&P Sensex fell 450 points lower at 41,170 and NSE Nifty50 traded 131 points lower at 12,115.
Market falls further
2: 30 PM
Equity indices Sensex and Nifty fell 0.65% by the afternoon sesion on Monday, tracking bearish trend from overseas amid fresh rising concerns over the global outbreak of coronavirus. BSE S&P Sensex traded 290 points lower at 41,320 and NSE Nifty50 traded 80 points lower at 12,168. In terms of sectors, gains in media, auto, pharma and realty indices were capped by losses in banking, metal, FMCG and IT scrips.
Expert on gold trend today
"Worries over the spread of new deadly virus in China and fears about its potential economic impact will lift gold's safe haven demand further. A selloff in equities and other risky assets also prompt investors to trust gold. At the same time, a strong US dollar may probably limit major gains in the counter, said Hareesh V, Head Commodity Research at Geojit Financial Services.
Commenting on the technical trend of the yellow metal, he further added," As long as prices stay above $1,568, expect rallies to continue with strong resistance is seen at $1592 followed by $1,610 levels. A direct drop below $1,548 would negate any bullish expectation."
Ion Exchange stock hits all-time high
1: 30 PM
Ion Exchange share price rose 11.04% to hit its all-time high of Rs 1,071 after the water and environment management firm reported a 237% rise in Q3 net profit. Net profit rose to Rs 26.31 crore in the quarter ended December 2019 against net profit of Rs 7.93 crore in Q3 of previous fiscal. In Q3 of current fiscal, Ion Exchange reported a 53.93% rise in total income to Rs 405.81 crore compared to Rs 263.64 crore total income in corresponding quarter of previous fiscal.Earnings per share gained 227.99% to Rs 22.50 in Q3 of current fiscal compared to Rs 6.86 in corresponding quarter of previous fiscal.
Tilaknagar Industries gains 4.95%
1: 25 PM
Shares of Tilaknagar Industries gained 4.95% intraday on BSE after the company announced tha tit has settled dues of IDBI Bank through One Time Settlement. The compnay, whose account has been classified as NPA by the Bank, paid Rs 16.04 crore (OTS amount) towards full and final settlement of the total dues of Rs 44.13 crore.
Ramco Cements gains 1.7%
1: 15 PM
Ramco Cements share price rose 1.7% intraday to hit a fresh 52-week high of Rs 883.30 today after the company has invested Rs 5 crore in the capital of Lynks Logistics Limited by way of subscribing to 5 crores equity shares of Rs 1 each, through their Rights Issue.
PSP Projects gains nearly 4%
1: 00 PM
PSP Projects stock price touched an intraday high of Rs 545, rising 3.86% today after the company said it has received work orders amounting to Rs 357.90 crore for institutional, industrial, government and government residential projects from various clients. The order includes major work awarded for development and beautification of Shri Kashi Vishwanath Dham at Varanasi, Uttar Pradesh worth Rs 339.00 crore and remaining from other clients.
VST Tillers Tractors rises 4.5%
12: 55 PM
VST Tillers Tractors shares touched an intraday high of Rs 1406.95, rising 4.51% today after the company said it has entered into a Memorandum of Understanding (MoU) with Zetor Tractors. The MoU will help in marketing of VST products through channel in the global market as well as joint development of products through JV. The JV will further help in marketing of the jointly developed product in both the Indian and global markets. The jointly developed products would be sold through VST channel partners in India and Zetor channel partners in the international market.
Dr Reddy climbs over 4% post Q3 results
12: 50 PM
Shares of Dr. Reddy Laboratories touched an intraday high of Rs 3,094, rising 4% on BSE today despite the company posting a net loss in the December quarter of 2019, due to loss because of impairment of non-current assets of Rs 1,320 cr. The Pharma major today posted Rs 569 cr as against Rs 485 cr in the same period last year. EBITDA fr the quarter under review stood at Rs 586 cr as against Rs 572 cr. The filing added that due lo these adverse market conditions, the company recorded an impainnent loss of Rs 113 cr during the quarter ended 31 December 2019.
Reliance Capital hits new 52-week low
12: 20 PM
Reliance Capital share price hit a fresh 52 week low of Rs 9.32 today, after the CARE Ratings downgraded the company's entire outstanding debt to default "CARE D" rating, even though there were no overdues on principal or interest payment to any lender.
The filing said this rating downgrade has initiated acceleration of various facilities by certain lenders and consequential demands for immediate payment of amounts that were otherwise due and payable in a phased manner over the next 8 years till March 2028, as per the original terms of lending. It is expected that the debt servicing of the Company in relation to the accelerated amounts and otherwise will be delayed.
Losers and Gainers today
12: 15 PM
Top losers in the Sensex pack included Tata Steel, Kotak Bank, HDFC twins, Hero Motocorp, SBI and Tech Mahindra. On the other hand, UltraTech Cement, ICICI Bank, M&M, Titan and NTPC were trading on a positive note.
UltraTech Cement rises 2.5% post Q3 results
12: 10 PM
UltraTech Cement shares traded 2.5% higher itraday on Monday after the company posted healthy Q3 earnings. The company reported 90% rise (YoY) in consolidated net profit to Rs 711.3 crore for the three months ended December 31, 2019 as against Rs 374.1 crore, recorded in the same quarter in a year-ago period. The company's total revenue, however was flat (lower by 0.9%) (YoY) to Rs 10,354 crore in the October-December quarter of the current fiscal as compared to Rs 10,444 crore in the same period last financial year. EBITDA registered a growth of 23.7% (YoY) to Rs 1,973 crore during the period ended December 31, 2019, from Rs 1,595 crore, booked in the corresponding quarter in the previous year.
12: 05 PM
According to analysts, global markets extended last week's selloff, as investors increasingly turned nervous amid fears over the global economic impact of the deadly China virus.
On the domestic front, analysts expect cautious market trend to continue in the near-term ahead of the outcome of Union Budget on February 1, 2020 and expectation of revival in earnings growth fo Q3, that have been below par. BSE S&P Sensex traded 200 points lower at 41,420 and NSE Nifty50 traded 57 points lower at 12,190.
Rupee trades lower
11: 55 AM
The rupee opened weak at 71.51 at the interbank forex market, down 18 paise over its previous close, amid strengthening of the American currency overseas. The domestic currency however, gained some lost ground and was quoted at 71.44 against US dollar.
Vodafone Idea slips 3.8%
11: 40 AM
Vodafone Idea shares declined 3.8% intraday to the day's low of Rs 5.82, after the India Ratings and Research downgraded the rating of Rs 3,500 crore non-convertible debentures of telecom major on account of liabilities related to adjusted gross revenue dues.
"As per the rating rationale published on the website (of India Ratings), the downgrade is on account of crystallisation of adjusted gross revenue related liabilities, post the dismissal of the review petition by the Supreme Court," Vodafone Idea said in a stock exchange filing.
DCB Bank recovers from losses rises 2% post Q3 results
11: 35 AM
Shares of DCB Bank fell to an intraday low of Rs 177.35, falling 2.47% on BSE, although erased early losses to trade 2% higher, post Q3 earnings.
DCB Bank posted Q3 net profit at Rs 97 crore in the December quarter against Rs 86 crore in same quarter in the last financial year. Bank's total income was up 13.66% at Rs 990.89 crore during the December quarter as against Rs 871.78 crore in the corresponding period a year ago. Net interest income rose to Rs 323 crore in the quarter under review compared to Rs 294 crore during the same period last year.
Sumitomo Chemical lists today
11: 15 AM
Sumitomo Chemical, a major Japanese chemical company listed at Rs 200.70 per share on the NSE today. It is listed on the first section of the Tokyo Stock Exchange and is a constituent of the on the Nikkei 225 stock index. Sumitomo Chemical is a subsidiary of one of the leading global chemical companies Sumitomo Chemical Co, Japan and a leading player in Indian agrochemical, household insecticides and animal nutrition sector.
Gold price extend gains today
10: 45 AM
Gold prices jumped internationally amid growing fears the coronavirus in China as rising number of cases of the new coronavirus in China and city lockdowns there deepened concerns over a global outbreak, that further spurred demand for haven assets.
Spot Gold on Monday traded 8.60 points higher at USD 1,579, trading near a 7-year high of $ 1,610 an ounce.
Gold February futures contract in India rose Rs 267 or 0.66% to the intraday high of 40,619 per 10 gm today on the MCX.
Biocon drops nearly 3%
10: 30 AM
Biocon shares fell 2.8% intraday by the early trading session of Monday after the company announced that the drug regulator UDFDA, after conducting a Pre-Approval Inspection (PAI) and GMP inspection of the API Manufacturing Facility of Biocon Ltd, issued 5 observations to company's unit.
We will respond to the FDA with a Corrective and Preventive Action Plan (CAPA) and are confident of addressing these observations expeditiously, the filing added.
Bank of Baroda falls 3.2% post Q3 results
10: 15 AM
Bank of Baroda share price opened with a loss of 3.09% today and later touched an intraday low of Rs 92.6, declining 3.14% on BSE after the company posted loss of Rs 1,407 crore in December quarter earnings against a net profit of Rs 436 crore in the corresponding quarter last year, due to higher provisions for bad loans.
Bank of Baroda 's total provisions and contingencies increased 54 per cent on annual basis to Rs 6,365 crore in Q3 FY20, as opposed to Rs 4,133 crore in Q3 FY19.Net Interest Income (NII) increased 9 per cent during the quarter ended December 31, 2019, to Rs 7,128 crore, in comparison to Rs 6,539 crore in the quarter ended December 31, 2018.
Q3 earnings stocks turn volatile
10: 00 AM
Shares of IndiGo, United Spirits, HDFC, Torrent Pharma and TTK Prestige turned volatile on Monday's trade and fell to bearish territory ahead of their October-Decmber quarter results, scheduled to be released today. On the otherhand, shares of Wockhardt and Dr Reddy were trading 1% higher each, ahead of Q3 results.
ICICI Bank climbs 1.8% post Q3 results
9: 55 AM
ICICI Bank shares gained 1.8% higher today and traded 2.21% away from 52 week high of Rs 552.4, after the lender posted robust numbers in its December quarter earnings. ICICI Bank posted a whopping 158.36 per cent profit during the quarter ended December 31, 2019 at Rs 4,146.46 crore during the quarter under review, as opposed to Rs 1,604.91 crore registered in the year-ago period. Net interest income (NII) increased by 24% on annual basis to Rs 8,545 crore in Q3 FY20 from Rs 6,875 crore in Q3 FY19.
JSW Steel drops 4% post Q3 earnings
9: 50 AM
Shares of JSW Steel fell 2.2% lower by the opening bell on Monday and fell 4% intraday later, after the compay posted poor quarterly results for October-December month, that were below street estimates. The company reported 88% de-growth (YoY) in consolidated net profit to Rs 187 crore for the three months ended December 31, 2019 as against Rs 1,603 crore, recorded in the same quarter in a year-ago period. The company's total income fell 11% (YoY) to Rs 18,055 crore in the October-December quarter of the current fiscal as compared to Rs 20,318 crore in the same period last financial year. EBITDA registered a de-growth of 45.5% (YoY) to Rs 2,451 crore during the period ended December 31, 2019, from Rs 4,501 crore, booked in the corresponding quarter in the previous year.Market Update
9: 45 AM
Domestic indices Sensex and Nifty traded 0.40% lower, tracking bearish trend from overseas amid rising tensions over coronavirus outbreak. With the coronavirus's ability to spread getting stronger, most financial markets are being hit, although many are closed in Asia due to the Lunar New Year holidays.
Oil prices drop 2%
9: 40 AMOil prices slumped a further 2% to $59.57 on Monday as the rising number of cases of the new China virus and city lockdowns deepened concerns about demand for crude, even as Saudi Arabia's energy minister sought to calm the market.
Rupee opens lower on Monday
9: 30 AM
Rupee opens sharply at 71.51 per dollar as compared to Friday's close of 71.32 per US currency.
9: 25 AM
Sensex and Nifty on Monday opened on a bearish note, tracking overseas trend and fell 0.50% each by the opening bell. BSE S&P Sensex traded 180 points lower at 41,431 and NSE Nifty50 traded 77 points lower at 12,171. In terms of sector, except realty, all the other sector based indices traded in the red today, with 2.5% fall in metal stocks, 1.5% fall in PSU Banking, followed by 1% decline in auto scrips. Domestic market followed bearish trend from overseas on Monday, amid October-December quarter earnings season, as market participants kept a wary eye on developments around the latest coronavirus outbreak, that has infected more than 2,700 people globally and killed 80 in China. The ability of the coronavirus to spread is getting stronger and infections could continue to rise, China's National Health Commission said on Sunday.
FII/ DII action on Friday
9: 20 AM
On a net basis, foreign institutional investors bought equities worth Rs 659.11 crore, while domestic institutional investors offloaded shares worth Rs 417.96 crore on Friday, data available with stock exchanges showed.
9: 10 AM
Sensex has fallen 100 points lower at 41,503 and Nifty trades 23 points lower at 12,224.
Stocks in news
9: 00 AM
Indian Bank, JSW Steel, UltraTech Cement, Sonata Software, Adani Gas, HDFC, Infosys, HDFC Bank, Wockhardt, Dr Reddy, Torrent Pharma, TTK Prestige among others are the top stocks to watch out for in Monday's trading session
Global Market Update
8: 55 AM
Asian and US indices traded slightly lower as market participants kept a wary eye on developments around the latest coronavirus outbreak, with more than 2,700 people globally infected and 80 in China killed by the disease. The ability of the coronavirus to spread is getting stronger and infections could continue to rise, China's National Health Commission said on Sunday.
Follwing the news, all three major Wall Street indexes closed sharply lower on Friday after a second confirmed case of the virus on US soil. The S&P 500 lost 0.9%, the Dow Jones Industrial Average fell 0.6% and the Nasdaq Composite shed 0.9%.
In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan was off 0.2%, while financial markets in China, Hong Kong and Australia were closed on Monday.
Q3 Earnings Today
8: 45 AM
Housing Development Finance Corporation, InterGlobe Aviation, Dr. Reddy's Laboratories, Wockhardt, United Spirits, TTK Prestige, Torrent Pharmaceuticals, Tata Steel Long Products, Navin Fluorine International, Muthoot Capital Services, Mahindra Lifespace Developers, Reliance Chemotex Industries , HCL Infosystems, DCM Shriram, APL Apollo Tubes, Lakshmi Machine Works, IIFL Finance, Welcast Steels, H.G. Infra Engineering, Gandhi Special Tubes, Bharat Seats, Bhansali Engineering Polymers, Music Broadcast, Mold-tek Packaging, V2 Retail among others will be releasing their Q3 results today.
8: 30 AM
On last Friday, equity market indices Sensex and Nifty turned bullish and climbed 0.55% higher by the closing bell, amid heavy buying in media, metal and banking scrips. YES Bank, Coal India, Britannia, Coal India, Larsen and Toubro and NTPC were among the top gainers today. Power Grid, Bahrti Airtel, Infosys, Cipla and TCS were trading among the top losers.