Share Market Update: Benchmark indices Sensex and Nifty closed 0.5% higher on Tuesday, backed by strong global equities as investors calmed in the absence of any further escalation in the Mid-east tensions. BSE S&P Sensex closed 192 points higher at 40,869 and NSE Nifty50 ended 59 points higher at 12,052. Sectorally, all the indices closed in the green, with over 2% rise in realty stocks. Both the key market indices Sensex and Nifty have dropped 2.5% each over the last two sessions, amid globally weak equities.
Here's a look at the live updates of the market action on BSE and NSE today:
3: 45 PM
Benchmark indices Sensex and Nifty closed 0.5% higher on Tuesday. BSE S&P Sensex closed 192 points higher at 40,869 and NSE Nifty50 ended 59 points higher at 12,052.
Suven Life Sciences climbs over 3%
3: 30 PM
Suven Life Sciences rose 3.2% in trade after the company said it has been given NCLT nod for demerger between the company and its subsidiary Suven Pharmaceuticals Limited.
Adani Ports rises 2.5%
3: 00 PM
Adani Ports share price rose 2.5% to the intraday high of Rs 389.80 on BSE after the company highlighted its operational performance and volume growth in the December quarter. "Adani Ports and Special Economic Zone Limited for the nine-month period ended 31st December, 2019 achieved a throughput of 165 MMT across its nine operating ports in India thus registering eight percent cargo volume growth on year on year basis," the filing said.
2: 30 PM
Sectorally, except PSU Bank, that fell 0.35% today, all the other indices are trading in green, with over 1% rise in realty stocks.
Bajaj Finance rises over 2% post Q3 update
2: 20 PM
Shares of Bajaj Finance climbed 2.3% to the intraday high of Rs 4,092 on BSE. Bajaj Finance said its AUM grew 35.1% year-on-year to Rs 1.42 lakh crore in the third quarter. On a sequential basis, its AUM rose 7%. The non-bank lender has acquired 2.5 million customers in the third quarter as against 1.9 million customers in the previous quarter. Its customer base at the end of December quarter stood at around 40.4 million compared with 32.6 million in the year-ago period. New loans booked during the quarter stood at 7.7 million compared with 6.8 million in the year-ago period and 6.6 million in the previous quarter.
Manappuram Finance rises 2.5%
2: 05 PM
Manappuram Finance rose 2.5% in trade and touched the day's high of Rs 176 on BSE after the company said it plans to raise $300 million through notes issue.
GM Breweries reports Q3 results, shares decline 2.8%
2: 00 PM
Shares of GM Breweries fell 2.8% in trade and touched an intraday low of Rs 396 on BSE today. Company said its net profit declined 16% to Rs 14 cr in Q3 FY20 against Rs 16.7 cr, recorded in the same period a year ago.
Company's revenue fell nearly 4% to Rs 119.7 cr in the December quarter this financial year compared to Rs 124.6 cr booked during the same quarter last year. Company's EBITDA fell 19.8% to Rs 19.9 cr this quarter compared to Rs 24.9 cr booked last year. On a yearly basis, the company's margin has lowered 330 bps to 16.6% in Q3 FY20 against 19.9% recorded Q3 FY19.
Balkrishna Industries gains nearly 3%
1: 50 PM
Balkrishna Industries share price rose in early trade today after global brokerage Nomura upgraded the off highway tyre maker to buy with a target price of Rs 1,148. Balkrishna Industries stock gained up to 2.84% to Rs 991.50 compared to the previous close of Rs 964.15 on BSE.
ESAF Small Finance Bank files DRHP for its IPO
1: 45 PM
ESAF Small Finance Bank on Monday filed its Draft Red Herring Prospectus (DRHP) with markets regulator Securities and Exchange Board of India for an Rs 976 crore Initial Public Offering (IPO). The IPO would comprise a fresh issue of shares worth Rs 800 crore and an offer-for-sale (OFS) aggregating up to Rs 176.2 crore, according to the draft prospectus.
Fresh developments on US-Iran tension
1: 40 PM
Domestic maket erased early gains amid fresh developements over the geopolitical tensions, rising in the Middle East. Today, Iran's parliament passed a bill designating all US forces 'terrorists' over the killing of a top Iranian military commander Qasem Soleimani. Further, the Secretary of Iran's National Security Council Ali Shamkhani has reportedly said today," We have 13 scenarios for revenge on Sulemani's killing."
Indices erase gains
1: 25 PM
Benchmark indices Sensex and Nifty erased gains on Tuesday and surged 0.25% each backed by strong global equities as investors calmed in the absence of any further escalation in the Mid-east tensions. BSE S&P Sensex traded up 155 points to 40,824 level and NSE Nifty50 traded 45 points higher to reach 12,035 mark.
Rupee rises further
1: 05 PM
The Indian rupee appreciated further in trade today, rising 24 paise intraday to 71.69 against the US dollar, tracking correction in oil prices and sharp rally in equity markets. The currency opened 20 paise higher at 71.73 per US dollar in morning session.
Gold trades lower
12: 55 PM
Hit by a pullback in rupee and easing crude prices, Gold 05 Feb 2020 Futures were trading near 40,203 per 10 gm on Tuesday. Yesterday, Gold futures for 24 karats in Delhi, spiked to a record Rs 41,400 per 10 gm. Global investors were enthused on Tuesday amid no further escalation in the mid-east tensions.
Market erases early gains
12: 45 PM
Benchmark indices erased early gains on Tuesday, with Sensex and Nifty rising 0.65% each backed by strong global equities as investors calmed in the absence of any further escalation in the Mid-east tensions. BSE S&P Sensex traded up 280 points to 40,957 level and NSE Nifty50 traded 85 points higher to reach 12,076 mark.
Avenue Supermarts rises 2.65%
12: 30 PM
Shares of Avenue Supermarts touched an intraday high of Rs 1837.1, rising 2.65% onBSE after the company said it has allotted listed commercial paper of Rs 100 crore.
Tata Power rises over 1%
Tata Power rose 1.2% in trade after the company signed a share purchase agreement with Rishabh Patel and Tanuj Patel, to sell the 9.35% equity stake by the company and 21.34% equity stake held by its subsidiary Af-Taab Investment Company Ltd in Tata Ceramics Ltd. The company will also sell 33.33% stake in the 7.25% Preference Shares, 41.67% of Preference Shares held by Af-Taab and 25% of the Preference Shares held by Tata Power Trading Company Ltd, in TCL.
Sagar Cements rises 1%
11: 30 AM
Sagar Cements rose 1% in trade on Tuesday as the company provided production and despatch details. On a consolidated basis, production/purhcase of cement fell 7.56% to 300,138 on a yearly basis. Company's cement sales declined 4.33% to 312,132 MT yearly.
Mahindra & Mahindra rises 1.4%
11: 00 AM
Shares of Mahindra & Mahindra rose 1.4% to the day's high of Rs 532 on Tuesday after the company shares deatils on the production, sales and export figures for the month of December 2019. The company's total production in December 2019 was up 22.5% at 33,888 units as against 27,653 units in December 2018. Total sales in the month fell marginally to 36,576 units from 36611 units YoY.
VST Tillers Tractors trades lower
10: 40 AM
VST Tillers Tractors declined marginally in trade on Tuesday as the company shared details of the December quarter performance. Company's power tillers sales in December increased 4.3% to 1,410 units, while the tractors sales dipped 39.2 % to 366 units YoY.
PI Industries declines over 3%
10: 35 AM
PI Industries fell 3.2% to the intraday low of Rs 1,373.45 on BSE after the company said it faced a factory accident that occurred in one section of a multi-product plant at Jambusar fine chemical manufacturing site in Gujarat.
Granules India gains nearly 3%
10: 30 AM
Granules India rose nearly 3% in early trade after the pharma major announced that USFDA has approved sale of painkiller drug Acetaminophen tablet (325 MG). Shares of Granules India touched the day's high of Rs 124, rising 2.9% on BSE.
Gainers/ Losers today
10: 10 AM
HDFC Bank, IndusInd Bank, Reliance Industries, Tata Steel, SBI and Axis Bank were among the top gainers of the morning session trade on Tuesday. Tech Mahindra, TCS, Infosys and HCL Tech were among the top losers, trading in the red.
Rupee opens higher
10 : 00 AM
Indian rupee, the local currency appreciated 20 paise to 71.73 against the US dollar in morning session, amid easing crude oil prices.
9: 55 AM
Domestic investors followed Asian stocks that rebounded after a day of no escalation in the US-Iran tussle.
The Pentagon on Monday distanced itself from US President Donald Trump's assertions that he would bomb Iranian cultural sites despite international prohibitions on such attacks.
Global markets were thrown into fresh turmoil on Friday after top Iranian commander Qasem Soleimani was killed in a US drone strike in Iraq. Geopolitical developments in the Middle East would the major driving factor for the Indian equity indices this week and will also have a bearing on crude oil prices and rupee movement, analysts said.
Midhani shares up 3.4%
9: 50 AM
Midahani shares rose 3.4% today to the day's high of Rs 158 on BSE. Midhani, the only manufacturer of titanium alloys and major supplier of super alloys in India, had dispatched its first consignment of ultra-high strength steel for ignitor box and cobalt alloy for throat sitting rings for indigenous manned mission of Indian Space Research Organisation (ISRP) 'Gaganyaan' which will carry 'Vyomanauts' to space.
HDFC Bank gains 2.4%
9: 45 AM
HDFC Bank shares rose 2.4% in early trade after the lender provided details on the performance of the December quarter of 2019. Bank said during the quarter ended December 31, 2019, it purchased loans aggregating Rs 4,258 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation Limited (HDFC). On a yearly basis, HDFC's advances and deposits grew 20% and 25% on a yearly basis, while its CASA ratio stood at around 39.5% as of December 31, 2019.
Sensex and Nifty intraday high on Tuesday
9: 40 AM
BSE S&P Sensex has risen 521 points today to the day's high of 41,176 and NSE Nifty50 has risen intraday to 12,144 mark, rising 151 points.
9: 30 AM
In terms of sector, except IT scrips, all the other indices rose over 1%, with 2% gain seen in PSU Banks.
ITI top gainer on BSE
9: 20 AM
ITI Ltd shares were listed as the top gainer on BSE, rising 15% to the intraday high of Rs 105 on BSE, against the previous closing of Rs 91.65.
Market opens in green after 2 sessions of fall
9: 15 AM
Benchmark indices have opened majorly positive on Tuesday, backed by of strong global equities as investors shook off geopolitical concerns. BSE S&P Sensex traded up 400 points to 41,077 level and NSE Nifty50 traded 130 points higher to reach 12,122 mark.
ITI rises over 15%
9: 10 AM
ITI rose 15.66% to Rs 106 in the pre-open session on Tuesday as the company reported healthy earnings for the December quarter. The company reported Q3 consolidated profit after tax at Rs 168.25 crores, almost 1138.95% higher than 13.58 crore recorded in the Q3 FY18-19. Company's total income for Q3 FY19-20 stood at Rs 978.82 crore, 53.95% higher than Rs 635.80 crore, recorded in the same period a year ago. The company has reported EPS of Rs 1.79 for the period ended December 31, 2019, as compared to Rs 0.21 for the period ended December 31, 2018.
Market at pre-open
9: 05 AM
BSE S&P Sensex is seen trading up 300 points to 40,976 level and NSE Nifty50 traded 70 points higher to reach 12,076 mark.
FII/ DII action on Monday
9: 00 AM
Net investment of equity and debt reported by foreign portfolio investors (FPIs) remained bearish with net selling logged at Rs 104 crore from Indian equities and domestic institutional investors (DIIs) sold Rs 24 crore on Monday.
Oil trades in red, Gold follows trend
8: 55 AM
Oil steadied as investors weighed the risk to the Middle East oil supplies in the fallout from the US airstrikes that killed Iran's most powerful military general and sparked a severe escalation in hostilities between the two nations. Brent crude futures fell 54 cents to $68.37 a barrel, having been as high as $70.74 on Monday, while US crude dropped 44 cents to $62.83.
Following oil's trend, Gold also retreated to $1,557.54 an ounce, after scaling a near seven-year peak of $1,579.72 overnight.
Key Events Today
8: 50 AM
Analysts said traders also awaited government to release the advance estimate of GDP growth for 2019-20, scheduled to be released today.
Stoks in focus today
8: 50 AM
ITI Ltd, Biocon Ltd, HDFC Bank, Sagar Cements, Coffee Day, Avenue Supermarts among others are the top stocks to watch out for Tuesday's trading session
Global Market Update: Global investors shake off geopolitical worries
8: 45 AM
Domestic stock market is likely to recover from losses, amid positive rally seen in global key indices as investors shake off geopolitical concerns. US stocks ended higher on Monday, rebounding from Friday's losses as investors brushed aside worries about increased tensions in the Middle East. The Dow Jones Industrial Average rose 68.5 points, the S&P 500 gained 11.43 points and the Nasdaq Composite added 50.70 points.
Following the overseas trend, Asian markets also recovered and traded higher on Tuesday, with Japan's Nikkei up 348 points, while MSCI's broadest index of Asia-Pacific shares outside Japan added 0.6%. Hang Seng rose 162 points and 20 points gain were seen in Strait Times and Kospi index. Shanghai Comp index traded marginally positive, while Taiwan index dropped over 100 points. US equity futures were trading flat.
SGX Nifty traded positive at levels around 12,100, indicating a higher opening for the Indian market today.
Geopolitical developments in Middle East
8: 35 AM
Yesterday, US President Donald Trump on Sunday vowed 'major retaliation' if Iran tries to avenge the killing of its key military commander Qasem Soleimani and doubled down on a threat to bomb Iranian cultural sites. He also threatened to impose 'very big sanctions' on Iraq if it follows through on a parliament vote calling for the expulsion of US troops based in the country.
8: 30 AM
On Monday, both key market indices Sensex and Nifty dropped 2% each amid globally weak equities on back of rising geopolitical tensions in the Middle East. BSE Sensex closed 787 points lower at 40,676 and NSE Nifty50 fell 233 points lower to end at 11,993. Global markets were thrown into fresh turmoil on Friday after top Iranian commander Qasem Soleimani was killed in a US drone strike in Iraq, marking a dangerous escalation in tensions in the volatile region. Geopolitical developments in the Middle East would the major driving factor for the Indian equity indices this week and will also have a bearing on crude oil prices and rupee movement, analysts said.