Share Market Update: Domestic market indices Sensex and Nifty fell on to bearish territory Thursday and ended 0.70% lower each by the closing bell on January Futures & Options expiry day. BSE 30-share S&P Sensex ended 284 points lower at 40,913 and NSE 50-share index Nifty50 closed 93 points lower at 12,035. All the sector based indices today closed in the red, with pharma index declining 2%, followed by 1.5% decline in FMCG and over 1% fall registered in metal and PSU Bank. Overseas, concerns over the impact of on world economies by the rapidly-spreading coronavirus, that has killed over 100 people globally due to the epidemic, weighted on investors. Moreover, market participants said market traded range bound although short covering was seen ahead of January F&O expiry today. Investors also awaited December quarter earnings scheduled to be released today and traded amid pre-budget market volatility, with the Union Budget nearing on Feb 1.
Here's a look at the live updates of the market action on BSE and NSE today:
3: 45 PM
Domestic market indices Sensex and Nifty fell on to bearish territory Thursday and ended 0.78% lower each by the closing bell, tracking negative cues from overseas, on January Futures & Options expiry day. All the sector based indices today closed in the red, with pharma index declining 2%, followed by 1.5% decline in FMCG and over 1% fall registered in metal and PSU Bank. BSE 30-share S&P Sensex ended 284 points lower at 40,913 and NSE 50-share index Nifty50 closed 93 points lower at 12,035.
Indian Oil reports Q3 results, shares fall 1.7%
3: 40 PM
Shares of Indian Oil fell nearly 2% in trade on Thursday after the company reported December quarter earnings today. The company reported 178% rise in its consolidated net profit for the October-December quarter at Rs 2,680 crore, as compared to Rs 965 crore in the same quarter last year. Company's total income rose 9.91% YoY to Rs 1,47,431.05 crore in Q3 FY20 as against Rs 1,63,658.84 crore in Q3 FY19. Indian Oil's tax expense rose to Rs 1,279.6 crore in the quarter under review as compared to Rs 438.59 crore reported in the same period last year.
Following the result update, shares of Indian Oil traded 2% lower at Rs 116.20 on BSE today.
Bajaj Auto Q3 out, shares gain almost 3%
3: 25 PM
Shares of Bajaj Auto rose nearly 3% in trade today as the company's earnings for the October-December quarter met street estimates. Company reported consolidated net profit at Rs 1,261.6 crore as against Rs 1,101 crore, recorded in the same period a year ago. Company's Revenue stood at Rs 7,640 crore i n Q3FY20 as against Rs 7,850 crore recorded in Q3 FY19.
3: 20 PM
In terms of sector, all the sector based indices traded in the red, with pharma index declining the most at 2%, followed by over 1.5% decline in FMCG, and over 1% fall registerd in metal and PSU Bank.
Colgate Palmolive reports Q3 numbers, shares decline 6%
3: 15 PM
Colgate Palmolive reported 3.6% YOY rise in consolidated net profit at Rs 199.1 crore as compared to Rs 192.1 crore recorded in the same quarter last fiscal. Revenue of the company rose 5.9% to Rs 1,147 crore in Q3FY20 as against Rs 1,083.7 crore, in Q3 FY19.
Following the Q3 earnings update, shares of Colgate Palmolive declined 6% to the intraday low of Rs 1,391 on BSE today.
Dabur India declines almost 4% post Q3 result
3: 00 PM
Dabur India shares declined nearly 4% after the company posted earnings for the quarter ended December 2019. Company's consolidated net profit rose 8.9% at Rs 400 crore in Q3FY20 as against Rs 367.2 crore in Q3 FY19.
India's first case of Coronavirus confirmed in Kerela
1: 50 PM
ANI and PIB India have both confirmed one positive case of Corona virus outbreak, reported in Kerala. The patient is stable and is being closely monitored, the notification added.
Bajaj Finserv declines 2% post Q3 earnings
1: 40 PM
The share price of Bajaj Finserv fell over 2% on Thursday after the company posted Q3 earnings that were lower than street estimates.
Company's Profit after tax rose 32% to Rs 1,126 crore in the quarter ended December as against Rs 850 in the same period a year ago. Revenue rose 30% on an annual basis to Rs 14,561 crore in Q3 FY20 as against Rs 11,141.60 crore recorded in Q3 FY19.
12: 40 PM
Domestic markets erased early gains and fell on to bearish territory Thursday, tracking negative cues, amid January F&O expiry today. BSE 30-share S&P Sensex traded 300 points lower at 40,899 and NSE 50-share index Nifty 40 traded 80 points lower at 12,050.
Strides Pharma rises over 8% post Q3 result
12: 25 PM
Strides Pharma rose to the intraday high of Rs 484.65, rising 8.45% today after the company posted robust healthy Q3 figures yesterday, post market hours.
The company's consolidated adjusted profit at Rs 101.7 crore for the quarter ended December 31, 2019 as against Rs 22.2 crore in the same quarter last year.
Strides Pharma's Revenue grew 28% higher (YoY) to Rs 735.3 crore in the October-December quarter of the current fiscal as compared to Rs 573.8 crore, recorded in a year-ago period.
Earnings before interest, tax, depreciation and amortisation (EBITDA) recorded 184% growth (YoY) to Rs 185.1 crore in Q3FY20 as against Rs 65 crore in Q3FY19, while margin was up at 25.2% as against 11.3 percent, YoY.
Bajaj Finance hit its all-time high
12: 15 PM
Bajaj Finance share price hit its all-time high in early trade today after the firm reported its highest ever quarterly net profit at Rs 1,614 crore in third quarter on the back of healthy interest income.
Total income rose 41 per cent to Rs 7,026 crore for October-December of 2019-20 as against Rs 4,992 crore in year ago period.
Net interest income gained 42 per cent at Rs 4,537 crore in Q3 compared to Rs 3,206 crore in the corresponding period of previous fiscal.
Domestic indices Sensex and Nifty traded 0.60% lower each on Thursday, dragged by losses in Reliance Industries, HDFC Bank and Infosys ahead of January derivatives' expiry. BSE 30-share S&P Sensex traded 250 points lower at 40,970 and NSE 50-share index Nifty 40 traded 70 points lower at 12,058.
According to traders, benchmark indices turned highly volatile ahead of the expiry of January futures and options (F&O) contracts. Further, weakness in other Asian bourses amid concerns over the impact of China's coronavirus on world economy also weighed on domestic market, traders said.
Traders also said market participants are assessing the economic implications of the coronavirus outbreak and awaiting cues from the Union Budget.
Losers and Gainers
10: 45 AM
Tata Steel, IndusInd Bank, Reliance Industries, Nestle India, Bharti Airtel, SBI, Kotak Bank and Infosys were among the top losers in the Sensex pack. On the other hand, PowerGrid, NTPC, Hero MotoCorp, TCS and HCL Tech were trading as top gainers.
Brent Crude today
10: 40 AM
Brent crude oil futures fell 1.09 per cent to USD 58.27 per barrel.
Rupee opens lower
10: 30 AM
The rupee depreciated 17 paise to 71.45 against the US dollar in morning session.
10: 20 AM
Domestic markets erased early gains and fell on to bearish territory Thursday, tracking negative cues, amid January F&O expiry today. Overseas, concerns over the impact of on world economies by the rapidly-spreading coronavirus, that has killed over 100 people globally due to the epidemic, weighted on investors. BSE 30-share S&P Sensex traded 200 points lower at 40,999 and NSE 50-share index Nifty 40 traded 60 points lower at 12,068.
YES Bank falls 4.6%
10: 05 AM
YES Bank share price declined 4% in the early trade on Thursday, after the lender submitted credit ratings by India Ratings & Research on the exchanges today, where the brokerage house has maintained Rating Watch Negative (RWN) on Yes Bank's Long-Term Issuer Rating of 'IND A' and withdrew its Short-Term Issuer Rating of 'IND A1'.
The Brokerage house said that the follow-up rating action is on back of absence of any swift equity raising as it is critical for providing sufficient cushion to the possible credit cost impact from the stressed asset pool on regulatory capital requirement in the short- and medium-term. Although, the liquidity position of the bank seemed adequate at end-September 2019 (liquidity coverage ratio of 114%), it added.
The agency has withdrawn the bank's short-term rating since there is no outstanding against the same, the filing added.
Following the news, YES Bank shares fell 4.61% to the day's low of Rs 39.3 on BSE.
FII/ DII action on Wednesday
9: 45 AM
On a net basis, foreign institutional investors offloaded equities worth Rs 1,014.27 crore, while domestic institutional investors bought shares worth Rs 1,520.90 crore on Wednesday, data available with stock exchanges showed.
9: 30 AM
Bajaj Auto, Force Motors, Tata Motors, Dabur, Colgate-Palmolive, Marico, Bharti Infratel, Indian Oil Corporation, LIC Housing Finance, Blue Star, Persistent Systems, Multi Commodity Exchange Of India, JK Tyre & Industries, Thomas Cook (India), Gujarat State Fertilizers & Chemicals, Astec Lifesciences, Laurus Labs, Strides Pharma Science, Equitas Holdings, Bharat Electronics, Amber Enterprises India, Jubilant Industries, MOIL, Bajaj Holdings & Investment, Dalmia Bharat Sugar, Gujarat Ambuja Exports, Kirloskar Industries, Parag Milk Foods among others will be releasing their Q3 results today.
Global Market Update
9: 25 AM
Asian stocks slipped while gold and bonds were in demand as worries about the spread of a new virus from China sent investors heading for safety.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.8% to an almost seven-week low. Japan's Nikkei fell 1%. Hong Kong's Hang Seng extended Wednesday's drop and Taiwan's benchmark index opened 1.5% lower.
On the Singaporean Exchange, SGX Nifty traded down 0.15% at 12,114.50, indicating a negative opening in the domestic market.
US Futures (Dow Jones) too traded at 28592, down 118 points or 0.41%.
In US, stocks closed little changed even after the Federal Reserve kept interest rates steady and struck an upbeat tone on the health of the US economy. The Dow Jones Industrial Average rose 163.34 points, or 0.57%, to 28,886.19, the S&P 500 gained 14.76 points, or 0.45%, to 3,291, and the Nasdaq Composite added 49.66 points, or 0.54%, to 9,319.34.
Market in red
9: 20 AM
Domestic markets erased early gains within few minutes of opening bell and fell to bearish territory Thursday, tracking negative cues from overseas as concerns over the impact of on world economies by the rapidly-spreading coronavirus, that has killed over 100 people globally due to the epidemic, weighted on investors. BSE 30-share S&P Sensex traded 140 points lower at 41,049 and NSE 50-share index Nifty 40 traded 10 points lower at 12088.
9: 15 AM
Domestic key indices Sensex and Nifty opened bullish on Thursday despite bearish global trend, amid December earnings announcements by index heavyweights. BSE 30-share S&P Sensex traded 100 points higher at 41,300 and NSE 50-share index Nifty 50 traded 10 points higher at 12,145.
Domestic key indices Sensex and Nifty are currently trading positive in the pre-open session of Thursday despite bearish global trend, amid December earnings announcements by index heavyweights. BSE 30-share S&P Sensex traded 181 points higher at 41,380 and NSE 50-share index Nifty 50 traded 32 points higher at 12,162.
Stocks in news
8: 50 AM
Bajaj Auto, Force Motors, Tata Motors, Dabur, Colgate, Marico, Bharti Infratel among others are the top stocks to watch out for in Thursday's trading session.
8: 45 AM
On Wednesday, domestic key indices Sensex and Nifty ended strongly bullish, on back of positive global trend, amid December earnings announcements by index heavyweights. BSE 30-share S&P Sensex ended 231 points higher at 41,198 and NSE 50-shares index Nifty 50 closed 73 points higher at 12,129.