Share Market Update: After a volatile trade, equity indices Sensex and Nifty closed bearish on Friday, amid muted trend overseas, on back of heavy selling pressure in metal and IT scrips. BSE 30-share S&P Sensex closed 190 points lower to 40,723 and NSE 50-share index Nifty50 ended 73 points lower at 11,962.According to analysts, the market is now focused on the Economic Survey and the Union Budget 2020, with high expectations of further stimulus to the economy. Sector wise, gains in bank, financials, realty and FMCG were capped by losses in IT, media, metal, pharma and PSU Bank. Overseas, investor concerned over the impact of on world economies by the rapidly-spreading coronavirus, and hoped for China containing the coronavirus. The World Health Organization (WHO) has declared the China coronavirus a global emergency, that has killed over 200 people globally due to the epidemic. Moreover, market participants said 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.
FULL COVERAGE: Union Budget 2020
Here's a look at the live updates of the market action on BSE and NSE today:
3: 45 PM
After a volatile trade, equity indices Sensex and Nifty closed bearish on Friday, amid muted trend overseas, on back of heavy selling pressure in metal and IT scrips. BSE 30-share S&P Sensex closed 190 points lower to 40,723 and NSE 50-share index Nifty50 ended 73 points lower at 11,962.
3: 00 PM
Equity indices turned volatile on Friday's trade and fell to bearish territory, amid heavy selling pressure in metal and IT scrips. BSE 30-share S&P Sensex declined 200 points lower to 40,715 and NSE 50-share index Nifty50 traded 80 points lower at 11,955.
SBI reports Q3 earnings
2: 40 PM
SBI shares touched an intraday high of Rs 321.6, rising 3.51% on BSE after the largest public lender posted healthy figures for the October-December period of 2019.
The company reported 41 % rise (YoY) in consolidated net profit to Rs 5,583 crore during the quarter ended December 31, 2019 as against Rs 3,954 crore, recorded in a year-ago period.
The company's NII rose 22.4 (YoY) to Rs 27,779 crore in the October-December quarter of the current fiscal as compared to Rs 22,691 crore in the same period last financial year.
Market turns green
2: 35 PM
Market indices recovered from day's low and rose marginally higher, with Sensex nearing 41,000 and Nifty above12,000, tracking muted trend from overseas, as the governement today tabled Economic Survey, ahead of the Union Budeget scheduled tomorrow. BSE 30-share S&P Sensex rose 55 points higher to 40,972 and NSE 50-share index Nifty50 traded flat at 12,033.
Economic Survey Highlights
2: 25 PM
While tabling the Economic Survey , Chief Economic Adviser Krishnamurthy V Subramanian said that India is currently facing an economic slowdown , although part of it is because of global slowdown. All groups of countries have slowed down, in a globalised economy, India too has felt the effect, says the CEA.
He added that India's aspiration to become a $5 trillion economy depends critically on strengthening the invisible hand of the market and supporting it with the hand of trust.
As per the Economic Survey 2020, India's GDP growth for FY 21 seen at 6-6.5 per cent. India's GDP growth moderated to 4.8% in H1 of 2019-20, amidst a weak environment for global manufacturing, trade and demand, the CEA added.
Market recovers in trade
2: 10 PM
Market has recovered from bearish territory on Friday to trade on a flat basis, amid the ongoing Economic Survey, with Sensex trading below 41K and Nifty nearing to cross 12K level.BSE 30-share S&P Sensex traded 5 points lower at 40,909 and NSE 50-share index Nifty50 was trading 15 points lower at 12,019.
Tech Mahindra top gainer
12: 45 PM
Tech Mahindra shares were trading among the top gainers on NSE on Friday, as the company will release its December quarter numbers today.
12: 30 PM
Market indices recovered from day's low, although traded lower, with Sensex trading back below 41,000 and Nifty below 12,000. BSE 30-share S&P Sensex fell 100 points lower at 40,807and NSE 50-share index Nifty50 was up 35points at 11,999.
Economic Survey today
The Economic Survey, which is a detailed report card on the Centre's economic performance for the year and future projection on the country's growth, will set the tone for Union Budget 2020, scheduled to be announced tomorrow. Catch the live updates here.
Market erases gains to trade in red
11: 35 AM
After erasing early gains, Sensex and Nifty fell in to bearish territory on Thursday, tracking muted trend from overseas, ahead of the Economic Survey. BSE 30-share S&P Sensex fell 130 points lower at 40,777 and NSE 50-share index Nifty50 was up 57 points at 11,978.Sector wise, gains in bank, financials, realty and FMCG were capped by losses in IT, media, metal, pharma and PSU Bank.
According to analysts, the market is now focused on the Economic Survey and the Union Budget 2020, with high expectations of further stimulus to the economy.
Overseas, investor concerned over the impact of on world economies by the rapidly-spreading coronavirus, and hoped for China containing the coronavirus. Moreover, the World Health Organization (WHO) has declared the China coronavirus a global emergency, that has killed over 200 people globally due to the epidemic.
Bharti Airtel clarifies on DGFT list
11: 30 AM
Regarding the media reports pertaining to Directorate General of Foreign Trade's (DGFT) Denied Entry List, Bharti Airtel informed the stock exchanges that," We wish to clarify that the company has highlighted the relevant details and documents submitted to the DGFT and accordingly the name of the Company has now been removed from the 'Denied Entry List'. We are actively engaged with the authorities to complete the formalities and provide additional documents for closure of the remaining cases."
Bharti Airtel share price declined half a percent in trade today, although shares of the telecom major were amongthe top losers list on NSE.
Rupee rises today
11: 15 AM
The Indian rupee appreciated by 17 paise to 71.41 against the US dollar in early trade on Friday ahead of the release of the government's Economic Survey later in the day. Forex traders said market participants are assessing the economic implications of the coronavirus outbreak and awaiting cues from the Union Budget.
At the interbank foreign exchange the rupee opened at 71.46 and touched a high of 71.41, registering a rise of 17 paise over its previous close. On Thursday, rupee had settled for the day at 71.58 against the US dollar.
YES Bank gains over 2%
YES Bank shares rose over 2% today after the compay said it has sold 15,66,909 equity shares constituting 2.68 % of the paid-up share capital of SICAL Logistics.
Earlier on January 23, 2020, YES Bank notified the exchanges today that it has sold 12.2 lakh equity shares, or 2.08% of the paid-up share capital of SICAL Logistics Limited in various tranches, last being on January 22, 2020.
YES Bank had acquired 60,00,000 equity shares, constituting nearly 10.25% of paid-up share capital of SICAL Logistics on January 15 upon invocation of pledge of shares.
Wipro declines nearly 3%
Wipro shares fell 2.8% intraday after the company announced the step down of Chief executive officer and managing director Abidali Z Neemuchwala , due to family commitments.
Rupee rises to 71.45 per dollar
10: 30 AM
The rupee appreciated 12 paise to 71.45 against the US dollar in morning session.
10: 20 AM
According to analysts, the market is now focused on the Economic Survey and the Union Budget, with high expectations of further stimulus to the economy. Recovery global markets too buoyed investor sentiment here, traders said.
Tata Motors falls 4% post Q3 result
10: 15 AM
Tata Motors share price declined 2% on Thursday's trade after company's the automaker reported consolidated net profit for the December quarter at Rs 1,738.30 crore against a net loss of Rs 26,992.54 crore in the corresponding quarter in a year ago period. The company's total income fell 6.4% (YoY) to Rs 72,576 crore in the October-December quarter of the current fiscal as compared to Rs 77,682 crore in the same period last financial year.
Kotak Mahindra Bank top gainer
10: 10 AM
Kotak Mahindra Bank was the top gainer in the Sensex pack, rallying over 4 per cent, after private sector lender said it will withdraw a case concerning dilution of promoters' shareholding in the bank which it had filed against the RBI in the Bombay High Court.
Gainers and Losers today
10: 00 AM
Kotak Mahindra Bank, Bajaj Auto, IndusInd Bank, M&M, Hero MotoCorp, Bajaj Finance and Bharti Airtel were also trading on a positive note. On the other hand, PowerGrid, ONGC, HCL Tech, NTPC and TCS were in the red.
Global Market Update
9: 40 AM
Overseas, investor shrugged off concerns over the impact of on world economies by the rapidly-spreading coronavirus, after hopes of China containing the coronavirus. The World Health Organization (WHO) has declared the China coronavirus a global emergency, that has killed over 200 people globally due to the epidemic.
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.4%, while Japan's Nikkei bounced 1.8%. Hang Seng, Taiwan Index, KOSPI traded marginally higher, while Shanghai Comp and Strait Times traded in red.
On Wall Street, Dow Jones Industrial Average rose 124.99 points, or 0.43%, to 28,859.44, the S&P 500 gained 10.26 points, or 0.31%, to 3,283.66 and the Nasdaq Composite added 23.77 points, or 0.26%, to 9,298.93.
FII/ DII action on Thursday
On a net basis, foreign institutional investors offloaded equities worth Rs 962.28 crore, while domestic institutional investors bought shares worth Rs 292.35 crore on Thursday, data available with stock exchanges showed.
9: 30 AMTata Motors, Persistent Systems, Bluestar, Marico, Equitas Holdings are the stocks to watch out for Friday's trading session as the companies posted their third quarterly results yesterday, post market hours.
9: 20 AM
Domestic market indices Sensex and Nifty opened strongly bullish on Friday, tracking positive trend from overseas, with domestic investors keenly awaiting economic updates from the Union Budget. BSE 30-share S&P Sensex traded 108 points higher at 41,013 and NSE 50-share index Nifty50 was up 47 points at 12,083.
Stocks to watch today out on January 31
9: 13 AM
YES Bank, SBI, HUL, Castrol, Power Grid, Tech Mahindra are among the top stocks in focus in Friday's trading session based on latest developments.
9: 10 AM
BSE 30-share S&P Sensex traded 238 points higher at 41,152 and NSE 50-share index Nifty50 was up 64 points at 12,100.
State Bank Of India, Bank Of India, Vedanta, Castrol India, Hindustan Unilever, Power Grid, Saregama India, Tech Mahindra, Birlasoft, Shoppers Stop, Future Consumer, Everest Industries, Jubilant Life Sciences, Indian Hotels, Magma Fincorp, Indian Energy Exchange, Coromandel International, Kirloskar Oil Engines, Punjab Chemicals And Crop Protection, Ruchi Soya Industries, Sun Pharma Advanced Research Company, Tourism Finance Corporation Of India, Vinati Organics, V-guard Industries, Vascon Engineers among others will be releasing their Q3 results today.
On Thursday, domestic market indices Sensex and Nifty fell on to bearish territory 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.