Sensex, Nifty Updates: Equity market indices Sensex and Nifty closed on a bullish note Friday, in line with key Asian equities, amid heavy buying in metal, media and banking scrips. Sensex ended 306 points higher at 34,287 and Nifty was rising 113 points higher to 10,142. On Thursday, Sensex closed 128 points lower at 33,980 and Nifty ended 32 points lower to 10,029. Experts said market were muted today as optimism from opening of lockdown restrictions was offset by prevailing uncertain market conditions amid the rising cases of the virus in domestic grounds. Markets globally traded on a mixed note today, as investors kept cautious stance over the fears of second wave of coronavirus, civil unrest in US and rising fears of US-China trade tensions. Meanwhile, companies set to announce their earnings are State Bank of India, L&T, Jyothi Labs, Exide Industries, Saregama, Alkem Laboratories, Greaves Cotton, Gujarat Gas among others.
Here's a look at the updates of the market action on BSE and NSE today
3.45 PM: Closing bell
Equity market indices Sensex and Nifty closed on a bullish note Friday, in line with key Asian equities, amid heavy buying in metal, media and banking scrips. Sensex ended 306 points higher at 34,287 and Nifty was rising 113 points higher to 10,142.
3.30 PM: VIP Industries stock price
Big bull Rakesh Jhunjhunwala lost Rs 249 crore in a month with VIP Industries share as coronavirus crisis roiled Indian markets. At the end of March quarter this year, Jhunjhunwala held 75 lakh shares or 5.31% stake in the luggage and travel accessories firm. On February 12, 2020, VIP Industries share price hit 52-week high of Rs 520 on BSE. The value of Jhunjhunwala's shareholding on February 12 stood at Rs 390 crore.
3.20 PM: Aurobindo share price erases early gains
Shares of Aurobindo Pharma were trading 2.01% lower at Rs 743 per share on Friday's afternoon session. The pharma stock has fallen after 3 days of consecutive gain.
The stock erased early gains and fell in today's trade as the USFDA issued a 'Form 483' with 9 observations to its subsidiary, AuroLife Pharma's manufacturing facility in the US.
Earlier in the day's trade, shares of Aurobindo Pharma touched an intraday high of Rs 775.7, rising 2.18% as against the last closing value of Rs 759.15.
3.00 PM: Market rises further
Equity market indices Sensex and Nifty were trading on a bullish note Friday, amid weakness in global key equities, including SGX Nifty. Sensex was trading 308 points higher at 34,228 and Nifty was rising 105 points higher to 10,134.
2.40 PM: JSW Steel share price gains over 5%
JSW Steel share price opened with a gain of 2.06% today and later touched an intraday high of Rs 202.35, rising 5.36 % on BSE after the company said it has raised Rs 1000 crore through NCD's
2. 20 PM: Safari Industries stock gains 9% post results
Safari Industries stock rose 9.19% to an intraday high of Rs 438.95 on BSE, after posting Q4 earnings.
The company reported a 22% rise in profit at Rs 4.68 crore during the quarter ended March 31, 2020, as against Rs 3.81 crore, recorded in a year-ago period. Company's total income rose 1.62% (YoY) to Rs 145.08 crore in the January-March quarter of the current fiscal as compared to Rs 142.77 crore in a year-ago period.
2.00 PM: Tourism Finance Corporation shares drop 5%
Tourism Finance Corporation share price fell from 5% gains feom early trade and later touched an intraday low of Rs 41.8, down 4.89% on BSE, after posting its March quarter results.
The company reported a 52% drop in profit at Rs 12.17 crore during the quarter ended March 31, 2020, as against Rs 25.52 crore, recorded in a year-ago period. Company's total income fell 21.01% (YoY) to Rs 54.43 crore in the January-March quarter of the current fiscal as compared to Rs 68.91 crore in a year-ago period.
1. 40 PM: NIIT stock pricegains 3% post results
NIIT stock price touched an intraday high of Rs 91, rising 3.06% on BSE today, after reporting its quarterly results.
The company reported a 97% drop in profit at Rs 0.6 crore during the quarter ended March 31, 2020, as against Rs 23 crore, recorded in a year-ago period. Company's total income rose 13.82% (YoY) to Rs 211 crore in the January-March quarter of the current fiscal as compared to Rs 219 crore in a year-ago period.
Sun Pharma initiates Phase II clinical trial on AQCH, a phytopharmaceutical drug, as potential treatment for COVID-19 patients
1.30 PM: Maruti Suzuki share pice rises today
Maruti Suzuki shares were trading 1% higher at Rs 5,751 on BSE after the auto maker informed the exchanges that it has commissioned 5 MW carport style photovoltaic solar power plant in Gurugram
1.18 PM: Lupin hits new 52 week high
Lupin stock price hit a new 52 week high of Rs.923.55 hit today The company in collaboration with and Mylan has received European marketing authorization for Nepexto, Biosimilar Etanercept.
1.00 PM: Ashok Leyland share price rises 6.89%
Ashok Leyland stock opened with a gain of 2.3% today and later gained 6.89% to an intraday high of Rs 48.9 on BSE. The company has launched its range of Modular Trucks, AVTR, with i-Gen6 BS-VI technology. The centralized marketing authorization applies to all member countries of the European Union.
12. 40 PM: Market Update
Equity market indices Sensex and Nifty were trading on a bullish note Friday, amid weakness in global key equities, including SGX Nifty. Sensex was trading 250 points higher at 34,223 and Nifty was rising 104 points higher to 10,133.
12.20 PM: Gold outlook
Gold prices continued its tepid trend of Friday's trade, in line with international markets.
Expressing outlook for the yellow metal, Anuj Gupta (DVP-Commodities & Currencies Research, Angel Broking) said," "Gold prices are trading lower hoping for a global economy recovery that kept pressure on the safe haven demand of the gold. Today, gold is trading 0.72% lower almost down by Rs 330 to Rs 46365 per 10 grams on MCX Aug contract. We are expecting some profit booking in gold prices as safe heaven demand fade out.
He added, "On the weekly perspective, chance of profit booking could be seen in gold prices. Intraday traders can go for sell in gold at Rs 46700 to 46800 levels, with the stop-loss of 47100, for the target of 46000 levels. For weekly perspective, gold may test 45800 to 45500 levels on MCX and in international market it can test $ 1690 per ounce."
12.00 PM: Larsen & Toubro share price gains over 3.5% ahead of earnings
Larsen & Toubro share price touched an intraday high of Rs 964.9, rising 3.64%, ahead of its quarterly results. L&T trades higher than 5, 20 and 50 day moving averages but lower than 100 and 200 day moving averages.
As per HDFC Securities, company is likely to report 7.6% revenue growth at Rs 46,590 crore while a 2.4% YoY decline in net profit at Rs 3,338 crore. The EBITDA margins are likely to remain flat YoY at 12%.
The key monitorables will be Government tendering momentum, update on projects/potential orders execution restart in Maharashtra and guidance for FY21E, HDFC Securities report added.
11.44 AM: Market update
Equity market indices Sensex and Nifty traded higher on Friday's trade, amid weakness in global key equities, including SGX Nifty. Sensex was trading 150 points higher at 34,130 and Nifty was rising 75 points higher to 10,104.
11.28 AM: Rupee rises today
Indian rupee, the local currency benchmark opened 19 paise higher at 75.38 per US dollar on Friday as strong domestic equity and foreign fund inflows boosted investor sentiments.
Forex traders said weak American currency and upbeat risk appetite also supported the rupee at the interbank forex market.
The rupee was trading at 75.38, up 19 paise over its last close. of 75.57 against the US dollar on Thursday.
11.14 AM: Top gainers and losers today
Tata Steel, Reliance Industries, ONGC, SBI, L&T, IndusInd Bank and Sun Pharma were the top performers on Sensex pack, while Bajaj Auto, Infosys and PowerGrid were among the top laggards.
11.00 AM: Oil rises today
International oil benchmark Brent crude futures rose 0.35 per cent to USD 40.13 per barrel.
10.48 AM: Market off day's high
Sensex was trading 66 points higher at 34,041 and Nifty was rising 29 points higher to 10,058. Experts said market were muted today as optimism from opening of lockdown restrictions was offset by prevailing uncertain market conditions amid the rising cases of the virus in domestic grounds.
10.39 AM: SBI share price rises almost 4%
SBI share price touched an intraday high of Rs 180.9, rising 3.94% on BSE today, ahead of its quarterly results, scheduled to be posted later in day.
The company informed on Thursday that its board will meet on June 11 to consider raising funds in single or multiple tranches of up to $1.5 billion. The lender said it will raise the funds in FY21 through a public offer, a private placement of senior secured notes in the US dollar or any other convertible currency.
10. 26 AM: DLF share price drops 4.8% post result
DLF share price opened with a loss of 3.87% today and later fell 4.83% to an intraday low of Rs 148.85 on BSE.
The realty major on Thursday reported a consolidated net loss of Rs 1,857.76 crore in the fourth quarter of last fiscal year, as against the net profit of Rs 436.56 crore in the year-ago period, mainly due to reversal of deferred tax assets (DTA) as it adopted a lower tax rate
Total income fell to Rs 1873.8 crore in the January-March quarter of the 2019-20 fiscal from Rs 2,660.95 crore in the corresponding period of the previous year.
10.10 AM: Rupee opens higher
Rupee opens higher at 75.39 as against the last closing of 75.58 per dollar, amid positive opening in domestic equities and sustained foreign fund inflows.
On equity front, reversing from yesterday's losses, Sensex was trading 197 points higher at 34,178 and Nifty was rising 83 points higher to 10,112. On Thursday, Sensex closed 128 points lower at 33,980 and Nifty ended 32 points lower to 10,029.
9.55 AM: Coronavirus Toll
India has reported 9,851 new COVID19 cases & 273 deaths in the last 24 hours. This takes the total number of coronavirus cases in the country to 2,.26 lakh including 1.10 lakh active cases, 1.09 lakh cured/discharged/migrated and deaths at 6,348.
9.47 AM: RIL share price gains 2.39%
RIL share price touched an intraday high of Rs 1617.7, rising 2.39% on BSE after reports that Mubadala, an Abu Dhabi-based global investment company is expected to pick up 1.85% in Jio Platforms for Rs 9,093.6 crore.
The current investment -- sixth in less than six weeks -- takes Jio Platforms' total funding to Rs 87,655.35 crore from some of the world's leading global technology and growth investors, including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala Investment Company.
9. 30 AM: Bharti Airtel share price top gainer on NSE
Bharti Airtel share price was the top gainer on NSE, rising 2.94% to an intraday high of Rs 590 after reports that Amazon.com is in early-stage talks to buy a stake worth at least $2 billion in mobile operator Bharti Airtel
The telcom major has clarified that it works with digital and OTT platforms from time-to-time, but has no other activity to report. The statement came in response to an agency report which claimed Seattle-based retail giant Amazon is planning to buy stake in the Indian telecom major.
9.22 AM: Opening session
Equity market indices Sensex and Nifty opened on a positive note, barring weak global cues, amid positive SGX Nifty. Sensex was trading 217 points higher at 34,198 and Nifty was rising 64 points higher to 10,093.
9. 06 AM: Stocks to watch today on June 5
SBI, Exide, Bharti Airtel, Lupin, L&T, Ashok Leyland, Powergrid, Jyothi Labs, NIIT among others are the top stocks to watch out for in Friday's trading session
8.50 AM: Q4 earnings today
State Bank of India, L&T, Jyothi Labs, Exide Industries, Saregama, Alkem Laboratories, Greaves Cotton, Gujarat Gas, Aditya Birla Capital, Cheviot, HFCL, Infibeam, Kirloskar Brothers, Timken, Suven Life Sciences, Sumitomo Chemical among others will report their March quarterly results today.
8.40 AM: FII/ DII action
On a net basis, FIIs bought Rs 2,905 crore , while DIIs sold off Rs 847 crore worth in equities on Thursday.
8.30 AM: Closing on Thursday
On Thursday, Sensex closed 128 points lower at 33,980 and Nifty ended 32 points lower to 10,029
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