Sensex, Nifty Updates: Sensex and Nifty turned majorly bullish by Friday's afternoon session and closed over 1,5% higher each, bucking the weakness in Asian counterparts amid heavy buying in realty shares. Sensex ended 523 points higher at 34,731 and Nifty ended 152 points higher to 10,244. This was despite weak cues from in Asian equities, and Wall Street Futures amid fears of resurgence of the virus in US and China. On Thursday, Sensex ended 700 points to 34,208 and Nifty rose 210 points to 10,091. Meanwhile, companies set to announce their earnings are Punjab National Bank, Bajaj Electricals, LIC Housing Finance, Oil India, Cadila Healthcare, Camlin Fine Sciences, Century Plyboards among others.
Here's a look at the updates of the market action on BSE and NSE today
3.49 PM: Closing Bell
Sensex and Nifty turned majorly bullish by Friday's afternoon session and closed over 1,5% higher each, bucking the weakness in Asian counterparts amid heavy buying in realty shares. Sensex ended 523 points higher at 34,731 and Nifty ended 152 points higher to 10,244.
3. 35 PM: Expert outlook on market
Commenting on market trend, Vinod Nair, Head of Research at Geojit Financial Services, "Indian markets ignored the potential fallout of India-China tensions and rising number of virus infections to close well above its 100-DMA. The gains were led by Reliance Industries, which alone contributed half of the gains for Nifty. Global cues also supported the markets to close out a news-heavy week. Geo-political tensions may increase volatility in the markets and investors are advised to watch out for the same."
3.29 PM: Finance Ministry invites bids on Life Insurance Corporation's IPO
The Finance Ministry has invited bids from consulting firms, investment bankers and other financial institutions to advise it on Life Insurance Corporation's proposed initial public offer (IPO). As per the plan, the government will engage two pre-IPO transaction advisers for what could be the largest ever IPO in India. LIC is a fully-owned government entity, which has delivered strong performance over the years.
3.11 PM: RIL becomes first Indian company to touch Rs 11 lakh crore market cap
Reliance Industries on Friday's market session became the first Indian company ever to touch Rs 11 lakh crore market capitalisation. The market capitalisation of the oil conglomerate stood at Rs 11,14,498.82 crore, as of today's closing session. Earlier the share of RIL closed with a market capitalisation of Rs 10.85 lakh crore on Thursday.
Meanwhile, the index heavyweight stock has hit another new 52 weeks and the all-time high of Rs.1788 today, rising 8% as against the last closing value of Rs1,656.25 on BSE. The stock has risen 10.65% in one week and 25% in one month. Year-to-date, RIL has given 16% returns.
2.52 PM: Market climbs higher
Sensex and Nifty traded majorly bullish by Friday's afternoon session, bucking the weakness in Asian counterparts amid heavy buying in realty shares. Sensex climbed 620 points to 34,848 and Nifty rose 172 points higher to 10,265.
2. 47 PM: ICICI Lombard share price falls 2%
ICICI Lombard General Insurance share price fell in early trade today after its parent ICICI Bank sold 1.80 crore shares amounting to 3.96% stake in the general insurer. The transaction was worth Rs 2,250 crore. The large cap stock has lost 8.33% in last three sessions. Share price of ICICI Lombard General Insurance fell 1.97% to Rs 1250 against previous close of Rs 1276 on BSE.
2. 30 PM: Ramco Cements share price rises 6% post result
Ramco Cements share price touched an intraday high of Rs 659.5, rising 6.2% on BSE, after posting healthy Q4 numbers.
The company reported 11% drop in its net profit at Rs 146 crore during the quarter ended March 31, 2020, as against profit of Rs 165 crore, recorded in a year-ago period. Company's total income fell 9.3% to Rs 1,390 crore in the January-March quarter of the current fiscal as compared to Rs 1,532 crore in a year-ago period.
2.04 PM: Expert opinion on RIL
Over the recent development at RIL JIO, Jyoti Roy, DVP Equity Strategist, Angel Broking said,"The company has built up a dominant presence in Refining, Petrochemicals, Telecom and Retail businesses. JIO Platforms which houses the telecom business has attracted investments from marquee investors like Facebook, Silver Lake Partners, General Atlantic, KKR, etc. of INR 1,15,694 crores. Investments by such marquee names in Jio platforms will not only help the company pay down it's debt but also reinforces our confidence in the management's ability to transform the company from a brick and mortar to a digital play. We believe that the digital and retail business will be key growth drivers for the company going forward and the proposed listing of the retail business over the next few years is along expected lines and will lead to a rerating for the company. We also expect a similar move by the company for it's digital business in the future."
1. 44PM: Care Ratings gains over 9% post Q4FY20 results
Care Ratings share price gained 9.39% on Friday's trade, despite the company posting weak results for the quarter ended March 2020. Net profit of Care Ratings fell by 58.08% to Rs 15.28 crore in the quarter ended March 2020 as against Rs 36.45 crore during the previous quarter.
Care Ratings share price touched an intraday high of Rs 438.6, rising 9.39% on BSE as against the last closing value of Rs 400.95. Earlier the stock fell 2.48% with the opening bell, however, recoeverd from early losses and traded in a wide range of Rs 47.6.
1. 36 PM: Whirlpool share price drops 3% post result
Whirlpool of India share price touched an intraday low of Rs 2045, falling 3.13% on BSE today.
The company reported net profit at Rs 87.41 crore during the quarter ended March 31, 2020, as against profit of Rs 104.10 crore, recorded in a year-ago period. Company's total income came at Rs 1,353.62 crore in the January-March quarter of the current fiscal as compared to Rs 1,355.15 crore in a year-ago period.
1.22 PM: Gold prices today
Gold price remained steady on concerns of second wave of coronavirus and expectation of Fed holding rates but gains were limited as dollar remained strong.
Angel broking in its daily report said,"Worries over the second wave of the coronavirus might continue to support Gold prices. However, appreciating U.S. Dollar might cap the gains for the yellow metal. On the MCX, gold prices are expected to trade sideways in today's session."
1.09 PM: Amrutanjan Health Care share price drops over 7%
Amrutanjan Health Care share price opened with a loss of 6.03% today and later touched an intraday low of Rs 369.8, falling 7.09% on BSE.
The company reported net profit at Rs 7.89 crore during the quarter ended March 31, 2020, as against profit of Rs 14.27 crore, recorded in a year-ago period. Company's total income came at Rs 59.32 crore in the January-March quarter of the current fiscal as compared to Rs 85.96 crore in a year-ago period.
12.50 PM: Nifty outlook
Expressing views on Nifty's near term outlook, Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking said," We continue to remain sanguine and expect the rally to extend towards 10150-10200 levels in today's session.
On the flipside, 10050 followed by 10000 would now provide decent support. Traders are advised to focus on individual stocks especially from the broader market, who are providing better trading opportunities."
12. 35 PM: Global cues
Asian equities were trading lower as investors were concerned about rise in coronavirus cases in China. Wall Street indices closed lower as it weighed in the possibility of more time for economic recovery. European markets closed slightly higher yesterday on optimism of economy turning around after recent easing of lockdown but was kept under check by geopolitical tensions.
12.23 PM: Top gainers and losers
Bajaj Finance, ONGC, Axis Bank, Tata Steel, IndusInd Bank and SBI were among the top gainers on Sensex pack. On the other hand, Infosys, HCL Tech, Hero MotoCrop and M&M were among the laggards.
12.09 PM: Brent crude today
Oil price gave up some gains as U.S. stockpiles rose to a record high for the second consecutive week. Brent crude futures, the global oil benchmark, rose 0.89 per cent to USD 41.88 per barrel.
11.57 AM: Rupee falls 15 paise to 76.29 per dollar
Indian rupee, the currency benchmark depreciated 15 paise to 76.29 per US dollar on Friday opening bell, tracking weakness from Asian peers, despite the dollar index trading lower.
Although positive domestic equities supported the rupee, the spike in coronavirus cases and border tensions with China weighed on the domestic unit.
The local unit opened at 76.28 against the US dollar at the interbank forex exchange, then fell further to 76.29 against the US dollar, down 15 paise over its previous close of 76.14 against the greenback on Thursday.
11.22 AM: GSFC share price drops over 4%
Gujarat State Fertilizers & Chemicals share price touched an intraday low of Rs 53, falling 4.42% on BSE today.
The company reported net profit at Rs 61.85 crore during the quarter ended March 31, 2020, as against profit of Rs 97.91 crore, recorded in a year-ago period. Company's total income came at Rs 1,863 crore in the January-March quarter of the current fiscal as compared to Rs 1,986 crore in a year-ago period.
11.00 AM: RIL share hits all-time high
Reliance Industries Ltd (RIL) share price hit all-time high in early trade today after the firm said it has become net debt free after raising Rs 168,818 crore in just 58 days. In August 2019, chairman Mukesh Ambani had said the firm planned to become debt free by March 31, 2021.
The Mukesh Ambani-led firm said it raised Rs 115,693.95 crore from global tech investors and Rs 53,124.2 crore through rights issue. The stock has gained 3.39% in last two days.
10.52 AM: Tata Motors share price rises marginally
Tata Motors share price was rising marginally higher despite company announcing that Moody's has downgraded its rating and changed outlook to negative.
Moody's Investors Service on Thursday said it has downgraded Tata Motors rating as the company faces tough market conditions amid the coronavirus pandemic. The rating agency said it has downgraded Tata Motors' corporate family rating (CFR) and senior unsecured instruments rating to B1 from Ba3.
10. 30 AM: Nifty outlook
Reliance Securities in its daily report said, "NSE-NIFTY is on the verge of breakout and its key technical indicators are also positively poised. In case the index manages to surpass its 100-day SMA convincingly (placed around 10,112 level), next leg of up-move will start. This could lead the index towards 10,500 and 10,800 levels. On the lower side, its medium-term moving average (50-day EMA) will act as a key reversal point for the index, which is now placed at 9,684 mark.
As for the day, support is placed at around 9,950 and then at 9,840 levels, while resistance is observed at 10,180 and then at 10,330 levels."
10.15 AM: Bajaj Consumer Care share price drops over 8% post earnings
Bajaj Consumer Care share price opened with a loss of 4.79% today and later touched an intraday low of Rs 140, falling 8.11% on BSE.
The company reported net profit at Rs 23.3 crore during the quarter ended March 31, 2020, as against profit of Rs 59.83 crore, recorded in a year-ago period. Company's total income came at Rs 178.8 crore in the January-March quarter of the current fiscal as compared to Rs 247.4 crore in a year-ago period.
9. 50 AM: RIL becomes debt free, shares hit new high
RIL share price hit a new 52 week and all time high of Rs.1680 today, rising 1.3% on BSE, after the company chairman Mukesh Ambani announced that Reliance Industries is now debt-free and added, taht he has "fulfilled promise to shareholders much before schedule of 31st March 2021."
Mukesh Ambani's Jio Platforms raised Rs 1,15,693.95 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, and PIF since April 22; Reliance Industries' Rights Issue, subscribed 1.59 times, was largest in the world by a non-financial entity in 10 years
In another update, the oil conglomerate yesterday announced that Saudi Arabia's Public Investment Fund is investing Rs 11,367 crore in Jio Platforms.
9.41 AM: Market turns muted
After minutes of Friday's opening bell, domestic indices gave up early gains and traded muted, tracking weakness from Asian equities and US stocks futures.
9.36 AM: Global Cues
Asian shares and U.S. stock futures wobbled in choppy trade on Friday as lingering concerns about an fresh spike in coronavirus cases offset growing hopes for a quick economic recovery. Oil futures rose in Asia on hopes that output cuts will put a floor under prices.
On the whole, markets have been sideswiped this week on fresh contagion concerns, prompting some investors to temper their optimism about how quickly the global economy can recover for the pandemic.
9. 23 AM: Top gainers and losers
Bajaj Finserv, Bajaj Finance, ONGC, Tata Steel, JSW Steel were maong the top gainers today. Infosys, HCL Tech, Wipro, Adani Ports, M&M were among the top losers.
9.10 AM Opening bell
Sensex and Nifty opened on a positive note on Friday, bucking the weakness in Asian counterparts. Sensex climbed 215 points to 34,424 and Nifty rose 56 points higher to 10,150
8.55 AM: Stocks to watch today on June 19
RIL, Cipla, Bajaj Consumer, Whirlpool, City Union Bank, PNB, LIC Housing, Oil India, Cadila among others are the top stocks to watch out for in Friday's trading session
8.50 AM: Rupee Closing
Rupee ended weaker at 76.14 per US dollar on Thursday, as compared to the earlier closing of 76.15 per US currency.
8.45 AM: Earnings Today
Punjab National Bank, Bajaj Electricals, LIC Housing Finance, Oil India, Cadila Healthcare, Camlin Fine Sciences, Century Plyboards, Confidence Petroleum India, Anuh Pharma, Astron Paper, Dalmia Bharat Sugar, Entertainment Network India, Greenlam Industries, Kirloskar Oil Engines, Novartis India among others will announce their Q4 results today
8.40 AM: FII/ DII action
On a net basis, FIIs bought Rs 366 crore, while DIIs also bought Rs 1,131 crore worth in equities on Thursday
8.35 AM: Market expectations
Sensex and Nifty are likely to open lower amid weakness in global equities. Domestic indices are expected to open tad lower, tracking weak cues from in Asian equities, and Wall Street Futures amid fears of resurgence of the virus in US and China.
8.30 AM: Closing bell
Sensex and Nifty closed majorly bullish on Thursday, as investors were optimistic ahead of the outcome from FM Sitharaman's press conference today, scheduled to be at 4 PM. Positive opening of European markets further led domestic indices higher. Sensex ended 700 points to 34,208 and Nifty rose 210 points to 10,091.