Share Market Update: Equity market indices Sensex and Nifty gained 1.55% each by Thursday's closing session, tracking overseas trend amid no further fresh escalation in geopolitical conflicts in the Middle East. Sensex soared 634 points to close at 41,452.35 and Nifty rallied 190 points to end at 12,215.90. Except IT, all the other indices closed in the green. Domestic indices gained on Thursday on back of bullish global equities after remarks by US President suggested that US and Iran were refraining from further military action. Sectorally, all the indices traded in the green, with 2% rise in PDU Banking and media scrips. Yesterday, tracking overseas trend, BSE S&P Sensex closed 51 points lower at 40,817 and NSE Nifty50 ended 27 points lower at 12,025. Domestic indices followed global key indices that fell into red territory on Wednesday after Iran launched over a dozen ballistic missiles targeting at least two bases where US military and coalition forces' are stationed in Iraq, mere days after the assassination of their top commander General Soleimani ordered by the US. Since last week, global markets have been rattled by concerns about rising tensions in the Middle East after the US killing of Iran's Major General Qassem Soleimani on January 3. 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.
Here's a look at the live updates of the market action on BSE and NSE today:
3: 45 PM
Equity market indices Sensex and Nifty gained 1.55% each by Thursday's closing session, tracking overseas trend amid no further fresh escalation in geopolitical conflicts in the Middle East. Sensex soared 634 points to close at 41,452.35 and Nifty rallied 190 points to end at 12,215.90. Except IT, all the other indices closed in the green.
Infosys gains 1.8%
With a trend reversal, Infosys snapped its losing streak for the past three sessions today to rise 1.8% in trade on Thursday, ahead of its quarterly earnings for the December month, scheduled tomorrow.
Global Market Update
European shares opened higher during Thursday's session, tracking gains in Asian markets amid easing geopolitical tensions. While Germany Index gained 1.5%, both CAC and FTSE Index gained half percent each.
In the meanwhile, US Futures traded 94 points or 0.3% higher.
On the commodity front, Brent Crude gained half percent to $66/bbl. In currency market, Rupee, the local unit appreciated by 23 paise to Rs 71.47 per US dollar.
Sunteck Realty gains over 6%
2: 40 PM
Sunteck Realty shares rallied in early deals on the Bombay Stock Exchange (BSE) on Thursday after the real estate firm signed a memorandum of understanding (MoU) with State Bank of India (SBI) to safeguard home buyers.
Boosted by the development, share price of Sunteck Realty gained as much as 6.23 per cent to touch an intraday high of Rs 450.15 against previous close price of Rs 423.75 on the BSE.
Aster DM Healthcare gains over 6%
2: 30 PM
Shares of Aster DM Healthcare opened with an intraday gain of 6.12% today and touched an intraday high of Rs 170 on BSE today after the company said its board will meet today to consider share buyback. Promoters' holding of Aster DM Healthcare stands at 37.8% as on December 19.
BGR Energy Systems gains 16.43%
2: 20 PM
Shares of BGR Energy Systems opened with a gain of 3.57% today and later grew 16.43% intraday after the company bagged turnkey order worth Rs 224 cr from Tamil Nadu Transmission Corporation. The total value of the contract is Rs 224.28 crores inclusive of GST and the contract completion period is 18 months, the filing added.
YES Bank climbs over 4%
2: 10 PM
YES Bank shares gained over 4% today after the lender updated its shareholding pattern, that shows promoter stake falling to 8.33% in Q3 as compared to 13.05% in Q2FY20. Moreover, promoter's pledged shares have fallen from 35.05% in Q2 to 2.59% in Q3.
SBI guarantees home loan refund if project gets stuck, shares rise 3.5%
2: 05 PM
SBI shares gained 3.52% intraday after the country's largest state-owned lender launched a new product, guaranteeing refund of principal amount to customers who avail home loan from the SBI in case the project gets stuck, in the hope to attract more buyers to the market.
Coffee Day Enterprises gains nearly 5%
2: 00 PM
Shares of Coffee Day Enterprises gained 4.96% today after the company told the exchanges that defaults on payments of interest and repayment of loans or revolving facilities like cash credit from banks or financial institutions as well as unlisted debt securities i.e NCDs and NCRPS for the quarter ended 31st December 2019 stood at Rs 489.48 crore.
Alembic Pharma shares rise nearly 3%
1: 59 PM
Alembic Pharma stock opened with a gain of 2.36% today and later touched an intraday high of Rs 568, rising 2.9% on BSE after the Pharmaceuticals major announced that it has completed United States Food and Drug Administration (USFDA) inspection at its formulation manufacturing facility located at Karakhadi, Gujarat, without any observations.
Birlasoft rises 2.5%
1: 55 PM
Birlasoft shares rose 2.56% intraday after the company announced that CARE Ratings Limited has rated the long term bank facilities as CARE AA- and rated the outlook stable for an amount of Rs 450 crore.
GIAL shares reverse trend
1: 45 PM
GAIL shares erased early losses and traded in the green after the Union Cabinet approved Capital Grant 60% of the estimated cost of Rs. 9,265 crore for the project to Indradhanush Gas Grid Limited (IGGL) for North East Natural Gas Pipeline Grid.
The North East Gas Grid project is being implemented by IGGL, a Joint Venture company of five CPSEs (GAIL, IOCL, ONGC, OIL and NRL).
Vedanta gains 1.7%
1: 40 PM
Vedanta shares rose 1.7% today after the company announced that its board said it would issue 20,000 non convertible debentures (NCDs) worth up to Rs 2,000 crore with a maturity of 10 years.
Glenmark Pharma, Cipla shares rise
1: 30 PM
Shares of Glenmark Pharma rose 2.67% intraday followed by Cipla shares that gained 1.8% on Thursday, on reports that drug pricing regulator National Pharmaceutical Pricing Authority (NPPA) allowed the two pharma majors to have an enhanced pricing for two of their respiratory (inhaler) products on grounds that these were 'innovative' from the other similar products available in the market.
Market indices gain 1.5% each
1: 10 PM
Equity market indices Sensex and Nifty gained over 1.5% each on Thursday's afternoon trading session. BSE Sensex rose 630 points higher to 41,444 and NSE Nifty climbed 190 points to 12,214.
Sasken Technologies gains over 7%
12: 55 PM
Sasken Technologies stock price touched an intraday high of Rs 664, rising 7.77% on BSE after the company said it has joined hands with Qualcomm, in a move to extend engineering and customization support for automotive customer base.
Bharti Airtel top gainer today
12: 40 PM
Bharti Airtel rose over 3% in Thursday's early trading session after the telecom major launched a qualified institutional placement (QIP) worth $2 billion at a floor price of Rs 452 per share and a separate issue of foreign currency convertible bonds (FCCBs)for raising another $1 billion.
Following the latest update, Bharti Airtel stock opened with a gain of 2.63% on Thursday and later touched an intraday high of Rs 474.05, rising 3.29% on BSE.
Gold falls to 40K level
12: 20 PM
Tracking losses in international spot prices, coupled with an appreciation of the rupee against the US dollar and stabilised oil prices, gold prices in India were trading lower at Rs 40K level today.
On the MCX, gold contracts for February were trading lower by Rs 18, or 0.04%, at Rs 40,092 per 10 gram today. It made an intraday low of 40,036.00 and high of 40,144.00 today.
As per MCX, gold futures' resistance level stood at 41,330, 42,034 and 42,701, while the recent support levels were at 39,959, 39,292 and 38,588.
Market rises further
12: 00 PM
Key domestic indices Sensex and Nifty rose over 1.33% each on Thursday's trade, with BSE Sensex rising 550 points to 41,360 and Nifty, on a similar trend, climbed 160 points to trade at 12,185.
Steel, power and mining sector stocks rise
11: 30 AM
Shares from steel, power and mining sector gained in trade today after the government opened up coal mining to non-coal companies and removed restriction on end-use of the fuel. Following the development, stocks of steel manufacturing sector, that uses imported coal as manufacturing input rose in trade today. Welspun Corporation rose 5.4% intraday, JSW Steel rose 4.33%, followed by 2.7% intraday rise in JSPL and 2.2% gain in SAIL and Tata Steel each.
Shares of power sector such as Adani Green Energy rose 4.98%, 3.51% gain in Adani Transmission, 2.84% rise in Tata Power, followed by 1.34% rise in Adani Power, 1% rise in Power Grid Corporation and NTPC rising 0.3%. Shares of Coal India were trading marginally lower on Thursday.
From the mining sector, 20 Microns shares grew 5.5% intraday, Ashapura Minechem climbed 4.3%, Sandur Manganese rose 3.57% and ASI Industries rose 2.6%. Shares of other state-owned mineral and mining companies such as GMDC climbed 4%, followed by 2.6% in KIOCL.
Voltas shares rise over 3%
11: 00 AM
Voltas share price rose in early trade today after HSBC retained buy call on the large cap stock with a target price of Rs 735. The brokerage said room AC industry is likely to post double-digit growth in 2020. Margins are likely to rise for room AC segment with strong scale-up in projects business, HSBC added. India's largest AC manufacturer mostly has positive recommendations from brokerages for next one year.
Share price of Voltas rose up to 3.13% to Rs 671.50 compared to the previous close of Rs 651.10 on BSE. Voltas stock has gained 25% in last one year against a 13% rise in Sensex.
10: 30 AM
According to traders, domestic investors turned positive as global equities rebounded after US President Donald Trump offered to embrace peace with Iran. Claiming that no Americans were harmed in the attack by Iran on US bases in Iraq, Trump called on Iran to "work together" to eliminate the Islamic State. In a direct message to the Iranian leaders and the people, Trump said the United States was "ready to embrace peace with all who seek it".
Rupee advances to 71.488 per dollar
10: 20 AM
The Indian rupee advanced 22 paise to 71.48 per US dollar in opening trade on Thursday as global markets stabilised after the US and Iran toned down their war rhetoric. At the interbank foreign exchange market, the rupee opened strong at 71.44 against the greenback.
Sensex pack gainers and losers
10: 15 AM
SBI was the top gainer in the Sensex pack, rising up to 2.19 per cent, followed by IndusInd Bank, Bharti Airtel, Tata Steel, ICICI Bank, L&T, Axis Bank, Reliance Industries and HDFC twins. On the other hand, TCS was the sole stock trading in the red.
10: 00 AM
Indices climbed higher globally today after US President Donald Trump on Wednesday said Washington did not necessarily have to respond to Iranian attacks at American military bases in Iraq. The comments came after Iran fired rockets at US facilities in Iraq in response to the killing of its top general Qassem Soleimani.
Reports said there were no US or Iraqi casualties from the Iranian strikes, amid speculation that Tehran may have deliberately pulled its punches to avoid a wider conflagration.
Sensex and Nifty day's high
9: 30 AM
BSE Sensex has risen to the day's high of 41,318.18 on Thursday's trade, trading 491 points lower from the all time high of 41,809.96. On the other hand, NSE Nifty has made an intraday high of 12,177, hovering near (116 points lower) the lifetime high of 12,293.90.
Market opens 1% higher on Thursday
9: 20 AM
Key domestic indices Sensex and Nifty rose over 1% on Thursday's opening bell, with BSE Sensex rising 465 points to 41,280 and Nifty, on a similar trend, climbed 127 points to trade at 12, 153.
Rupee opens higher
9: 15 AM
Rupee, the local currency opened higher at 71.43 per US dollar today compared to yesterday's close of 71.69.
9: 05 AM
With major gains, indices have risen over 1% on Thursday's pre-session trade, with BSE S&P Sensex trading 400 points higher at 40,817 and NSE Nifty50 136 points higher at 12,161.
Brent Crude rises marginally, Spot Gold back below $1600
8: 55 AM
Brent crude futures rose 55 cents, or 0.8%, to $65.99 a barrel after tumbling 5% from $71 /bbl on Wednesday, while spot gold price fell to $1550. Following crude hike overnight, petrol prices were increased by 6-8 paise & diesel prices by 15-16 paise on Thursday across 4 major cities.
FII/DII action on Wednesday
8: 50 AM
Net investment of equity and debt reported by foreign portfolio investors (FPIs) remained bearish with net selling logged at Rs 515.85 crore from Indian equities while domestic institutional investors (DIIs) bought Rs 748.40 crore on Wednesday.
Global Market Update
8: 45 AM
Since last week, global markets have been rattled by concerns about rising tensions in the Middle East after the US killing of Iran's Major General Qassem Soleimani on January 3.
On Wall Street, indices closed higher on Wednesday after rallying to record highs as investors gained confidence after remarks by US President suggested the US and Iran were refraining from further military action. The Dow Jones Industrial Average rose 161.41 points, the S&P 500 gained 15.87 points and the Nasdaq Composite added 60.66 points on Wednesday's trade.
Elsewhere, in Asian, key equity indices rose higher on Thursday following lack of any signs of further conflict in the Middle East.
Following gains in Wall Street overnight, MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1%, while Japan's Nikkei gained 473 points. Hong Kong's Hang Seng added 300 points, followed by 155 points rise in Taiwan index. SGX Nifty traded 70 points higher on the Singaporean Exchange. On the other hand, South Korea's KOSPI, China's Shanghai Composite grew marginally.
Budget in two sessions in 2020
8: 35 AM
The cabinet committee on parliamentary affairs has recommended holding the Budget session in two phases from January 31 to April 3, with the Union Budget to be presented on February 1. They said the first phase of the session will be from January 31 to February 11 and the second will be from March 2 to April 3.
Stocks in the news
8: 30 AM
Reliance Communications, Vodafone Idea, Bharti Airtel, Tata Consultancy Services, MMTC, NMDC, BHEL among others are the top stocks to watch out for Thursday's trading session
8: 15 AM
Benchmark indices Sensex and Nifty erased early losses and closed marginally lower on Wednesday, tracking overseas trend amid escalating geopolitical tensions between US-Iran. BSE S&P Sensex closed 51 points lower at 40,817 and NSE Nifty50 ended 27 points lower at 12,025. Except IT and FMCG, all the other sector-based indices ended in the red today.