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Share Market Highlights: Sensex ends 26 points lower, Nifty at 10,288; Hindalco, Asian Paints top losers

Stock Market LIVE Updates on June 25: Infosys, HDFC Bank, Axis Bank, IndusInd Bank, Asian Paints, ICICI Bank and HDFC were among the top losers in Sensex pack. On the other hand, Bajaj Auto, ITC, NTPC, UltraTech Cement and Reliance Industries were among the top gainers

twitter-logoBusinessToday.In | June 25, 2020 | Updated 15:59 IST
Share Market Highlights: Sensex ends 26 points lower, Nifty at 10,288; Hindalco, Asian Paints top losers
Here's a look at the updates of the market action on BSE and NSE today

Sensex, Nifty Updates:In a volatile trading session, Sensex and Nifty closed range bound on Thursday, the F&O Expiry day, amid weakness in global counterparts, as increase in surge of virus cases kept sentiments negative worldwide. Extending fall for the second straight day, Sensex closed 26 points lower at 34,842 and Nifty fell 16 points to 10,288. Domestic indices closed majorly bearish after a volatile session on Wednesday. Sensex closed 561 points lower at 34,868 and Nifty fell 165 points lower to 10,305. Meanwhile, companies set to announce their earnings are Ashok Leyland, IDFC, CONCOR, HAL, Apollo Hospitals, IOB, Bank of India, ION Exchange, Indiabulls Ventures, Endurance Tech, JB Chemicals, ICRA among others.

Here's a look at the updates of the market action on BSE and NSE today

3. 50 PM: Closing bell

In a volatile trading session, Sensex and Nifty closed range bound on Thursday, the F&O Expiry day, amid weakness in global counterparts, as increase in surge of virus cases kept sentiments negative worldwide. Extending fall for the second straight day, Sensex closed 26 points lower at 34,842 and Nifty fell 16 points to 10,288.

3.40 PM: Technical view on Nifty

Rohit Singre, Senior Technical Analyst at LKP Securities said,"Index managed to close a week below 200 WMA at 10289 with gains of nearly half percent and formed a doji candle pattern on weekly chart. Now for coming week immediate and good support is formed near 10200-10100 zone if managed to hold above said levels then we may see some pull back again towards good resistance of 10500-10550 zone and once we see a decisive break above 10550 then strong northward move is possible. Nifty bank closed a week at 21506 with gains of nearly one percent and formed a long legged doji candle pattern on weekly chart which hints uncertainty in the markets, support for nifty bank is coming near 21200-20900 zone and resistance is coming near 22000-22300 zone".

3. 20 PM: India Cements share price falls for second straight day

Share price of India Cements fell for the second consecutive session today after the South India-based cement maker  reported net loss of Rs 11.76 crore in Q4 against profit of Rs 32.57 crore (YoY). India Cements share price declined 2.4% to Rs 123.9 today against previous close of Rs 126.95 on BSE.

India Cements share price falls after coronavirus hits Q4 earnings

3. 00 PM: Expert outlook

Commenting on market trend today, Vinod Nair, Head of Research at Geojit Financial Services said, "Following the F&O expiry, our markets were also volatile and undecided, finally ending with a negative bias for the day. This was also in sync with generally lacklustre global markets. Cautiousness was visible as the IMF revised their GDP growth outlook for India and the infections continued to rise. Sectoral indices were also mixed with FMCG being the highest gainer. There seems to be some fatigue building into the markets and investors are advised to be cautious. "

2. 45 PM: Saudi oil exports down by $12 billion year on year in April

The value of Saudi Arabia's oil exports dropped by 65.4 per cent in April when compared to the same month a year earlier, or a fall of about $12 billion, official data showed on Thursday. Compared to March, total exports - including non-oil exports of goods such as chemicals and plastics - decreased by 23.5 per cent, or about $3 billion, the General Authority for Statistics said.

Saudi oil exports down by $12 billion year on year in April

2.30 PM: United Breweries share price falls 2.7%

United Breweries (UBL) share price dropped over 2% in Thursday's trade after the company posted weak results for the quarter ended March 2020. The company reported a 39.27% decline in its consolidated net profit to Rs 41.82 crore for the fourth quarter ended March 2020 as against Rs 68.87 crore during the January-March quarter of the previous financial year.

United Breweries share price fell 2.79% to the intraday low of Rs 1,022.55 as against the previous closing of Rs 1,051.90 on BSE. The stock has risen 4.96% for the last 6 days of straight gains.

2.12 PM: Rupee ends stronger

Rupee ended stronger at 75.67 per dollar as against the earlier closing of 75.72 per dollar.

1.55 PM: Markets update

In a volatile trading session, Sensex and Nifty were range bound on Thursday, the F&O Expiry day, amid weakness in global counterparts, as increase in surge of virus cases kept sentiments negative worldwide. Extending fall for the second straight day, Sensex fell 280 points lower at 34,631 and Nifty fell 80 points to 10,223.

1.40 PM: Market turns muted

Sensex and Nifty traded muted on Thursday's volatile trading session, amid weakness in global counterparts, as increase in surge of virus cases kept sentiments negative worldwide. Extending fall for the second straight day, Sensex fell 35 points lower at 34,832  and Nifty fell 22 points to 10,282.

1. 30 PM: Adani Enterprises rises over 9%

Adani Enterprises share price trades higher than 5, 20 and 50-day but lower than 100 and 200-day moving averages.

Adani Enterprises shares touched an intraday high of Rs 169.15 (9.34% on BSE, as against the previous closing value of Rs 154.20. It earlier opened at Rs 154.05 and touched an intraday low of Rs 153.35 on BSE.

The stock has traded in a wide range of Rs 15.8 intraday.

Adani Enterprises shares have risen 9.3% in one week and 17% in one month.

1.04 PML Market turns red

Sensex and Nifty traded lower amid weakness in global counterparts, as increase in surge of virus cases kept sentiments negative worldwide. Extending fall for the second straight day, Sensex fell 280 points lower at 34,631 and Nifty fell 80 points to 10,223.

12.45 PM: Bharti Infratel share price drops over 6%

Bharti Infratel share price fell in early trade today after the telecom tower firm decided to push the deadline for completion of merger with Indus Towers by over two months till August 31.

Share price of Bharti Infratel fell 6.46% to Rs 218 against previous close of Rs 233 on BSE. The stock has fallen after 5 days of consecutive gain.

In a BSE filing, Bharti Infratel said that its board met on Wednesday and took note of the status of scheme of arrangement between Indus and Bharti Infratel.

12. 22 PM: Canara Bank share price falls almost 7%

Canara Bank share price fell by nearly 7 per cent after the company reported a standalone net loss of Rs 3,259 crore for the quarter ended March.  Share price of Canara Bank slipped 6.76% to Rs 102.05 against previous close of Rs 109.45 on BSE.

The mid cap stock plunged 6.84 per cent to Rs 102 on the NSE. The stock has lost 7.24% in two days.

Canara Bank stock opened with a loss of 5.89% at Rs 103 on BSE.

Total 11.44 lakh shares changed hands amounting to turnover of Rs 11.91 crore

Canara Bank share price slips 7% on Rs 3,259-crore loss in Q4

12. 10 PM: Indian Oil shares falls over 2%

Indian Oil shares touched an intraday low of Rs 84.7, falling 2.64% on BSE.

The state-owned company reported a fourth-quarter net loss of 51.85 billion rupees, compared with a profit of 60.99 billion rupees a year ago. IOC's March quarter gross refining margin - the difference between the cost of crude oil processed and the selling price of refined products - was minus $9.64 a barrel against $4.09 per barrel, a year ago.

Coronavirus effect: Indian Oil reports first quarterly loss in 4 years

11. 53 AM: Top losers and gainers

Infosys, HDFC Bank, Axis Bank, IndusInd Bank, Asian Paints, ICICI Bank and HDFC were among the top losers in Sensex pack. On the other hand, Bajaj Auto, ITC, NTPC, UltraTech Cement and Reliance Industries were among the top gainers.

11.33 AM: Global cues

Asian indices are trading down tracking overnight plunge seen in U.S. markets as fresh coronavirus cases spike.

U.S. markets closed sharply lower with DOW falling 700 points. Tech heavy NASDAQ saw first decline in last nine sessions as more cases of covid-19 was reported from many US states.

European indices too closed lower are as spike in coronavirus cases spooked investors. Auto stocks led the losers' pack.

11.20 AM: Rupee opens mildly lower

The rupee depreciated marginally by 4 paise to 75.76 per dollar on Thursday's opening bell, amid weak domestic equities and strong US dollar.

Experts said rising coronavirus cases coupled with border tension with China weighed on investor sentiments and dragged the local unit lower today.

Rupee opens tad lower at 75.76 amid weakness in equity market, strong dollar

10. 55 AM: Coronavirus toll

The number of cases around the world linked to the disease has crossed 94.08 lakh and the death toll has topped 4.82 lakh. In India, the death toll due to COVID-19 rose to 14,894 and the number of infections spiked to 4,73,105, according to the health ministry.

10.46 AM: Market reverses trend, trades higher

After opening lower today, Sensex and Nifty recovered from early losses and traded tad higher by the first hot of Thursday's session. On F&O expiry day, Sensex climbed 100 points higher at 34,911 and Nifty rose 28 points to 10,333.

10. 39 AM: GAIL outlook

Commenting on GAIL's Q4FY20 results, Yash Gupta, Equity Research Associate, Angel Broking said,"Gail India consolidated revenue from operations for Q4FY20 stood at Rs.17,938 crore down by 5.98% YoY as there was an adverse impact on gas transmission volumes and natural gas prices due to industry closures during the last week of March 2020. While Natural Gas Marketing revenue up by 6.5% and Petrochemicals segment revenue was down by 29%. Petrochemicals business turnaround from negative EBIT of Rs.20 crores in Q4FY19 to EBIT of Rs.72.4crores in Q4FY20. Natural Gas Marketing EBIT stood at Rs.1,076 crores up by 82.2%. Profit before tax up by 61.6% to Rs.3,598 crores, while Net profit for the quarter up by 216% YoY to Rs.4,813 crore due to one-time deferred tax adjustment of Rs.2,335 crores."

10. 26 PM: United Breweries Q4 outlook

Commenting on 4QFY20 results of United Breweries,  Amarjeet Maurya, AVP - Mid Caps, Angel Broking said," For 4QFY20, United Breweries (UBL)'s net sales de-grew by 13% to Rs1,425cr. Top-line was negatively impacted mainly due to COVID-19 lockdown. On the operating front, the company reported contraction in margins, down 124bps yoy at 9.3%. Operating margin was impacted mainly due to higher employee cost (up 139bp) and other expenditure (up 25bp). On the bottom-line front, UBL reported de-growth of 39% yoy to Rs42cr due to lower sales, poor operating performance and higher depreciation cost. During the quarter, UBL launched Kingfisher Ultra Witbier, Kingfisher Ultra Draught and UB Export Cans. The response to Ultra Witbier and Ultra Draught has been very encouraging and the Company will expand to more markets in the coming months."

10. 16 AM: Earnings today

Ashok Leyland, IDFC, CONCOR, HAL, Apollo Hospitals, IOB, Bank of India, ION Exchange, Indiabulls Ventures, Endurance Tech, JB Chemicals, ICRA among others will report their Q4 results today.

10.02 AM: Oil prices drop today

Oil price fell on thin volumes as spike in coronavirus brought up worries of lower demand which was expected to make a comeback. Oil prices tumbled as much as 5%, or more than $2 a barrel on Wednesday.

9. 52 AM: Rupee outlook

Expressing views on rupee's outlook, Anuj Gupta (DVP-Commodities & Currencies Research, Angel Broking) said,"We are expecting appreciation in rupee supported by the record increase in forex reserves. It increased by $5.92 billion to touch lifetime high of $507.644 billion. Weakness in dollar is also supportive for USDINR."

9.41 AM: Expert outlook on market trend

Commenting on market trend, Vinod Nair, Head of Research at Geojit Financial Services said, "The rising cases of virus infections worldwide, especially in the Americas, unnerved the global markets. Domestic cases too show no signs of abating and this must be weighing in on the investors."

9.30 AM: Global cues

Asian markets fell, tracking bearishness from Wall Street stocks and oil prices as surging coronavirus cases in US and the International Monetary Fund's downgrade to global economic projections shook confidence in a recovery. MSCI's gauge of stocks across the globe shed 2.24%.

On Wednesday, three U.S. states reported record increases in new cases - Florida, Oklahoma and South Carolina - driving the negative sentiment. Seven others had record highs earlier in the week. Yesterday, on Wall Street, the Dow Jones Industrial Average fell 2.72%, the S&P 500 lost 2.59% and the Nasdaq Composite dropped 2.19%.

The International Monetary Fund said it now expects a deeper recession, with global output to shrink 4.9% this year, much sharper than the 3.0% contraction predicted in April.

Asian indices set to track Wall Street fall as second wave of virus derails economic recovery hopes

9. 20 AM: Opening bell

Sensex and Nifty opened lower amid weakness in global counterparts, as increase in surge of virus cases kept sentiments negative worldwide.Extending fall for the second straight day, Sensex fell 190 points lower at 34,734 and Nifty fell 46 points to 10,258.

9.10 AM: Stocks to watch today on June 25

Tata Power, Bharti Infratel, BPCL, Canara Bank, GAIL, Embassy Parks, Reliance Industries among others are the top stocks to watch out for in Thursday's trading session

Stocks in news: Tata Power, Bharti Infratel, BPCL, Canara Bank, GAIL, Embassy Parks, Reliance Industries

8. 55 AM: Nifty near term outlook

Geojit Financial in its note said, "The bullish exhaustion discussed yesterday matured as soon as the technical objective of 10570 was approached, and having completed 61.8% fibo retracement of the Jan-Mar fall, leading to a sharp turn lower. The sharp downsides in the closing hour, calls for more follow through selling, but favoured view expects such moves to be arrested in the 10160-9920 region."

8.45 AM: Earnings today

Companies set to announce their earnings are Ashok Leyland, IDFC, CONCOR, HAL, Apollo Hospitals, IOB, Bank of India, ION Exchange, Indiabulls Ventures, Endurance Tech, JB Chemicals, ICRA among others.

8.40 AM: Rupee closing

On the currency front, Rupee ended stronger at 75.72 per dollar as against the previous closing of 75.64 per dollar today

8.35  AM: FII/ DII action

On a net basis, FIIs bought Rs 1,766.9 crore while DIIs sold Rs 1,524.9 crore worth in equities on Wednesday

8.30 AM: Closing

On Wednesday, Sensex closed 561 points lower at 34,868 and Nifty fell 165 points to 10,305.

Sensex falls 561 points, Nifty ends at 10,305; financials lead losses

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