Sensex, Nifty Updates: Benchmark indices Sensex and Nifty closed sharply negative on Monday, as investors fretted over the news of extension of the nationwide lockdown till May 31. The government's fiscal stimulus package also failed to revive confidence in domestic investors. Sensex closed 1068 points lower at 30,028 and Nifty fell 313 points to 8,823. Bucking the general trend domestic market indices fell in today's trade as extension on lockdown till 31 May, with each day recording the highest single day spike in new coronavirus infected cases kept investors sentiments cautious. Foreign Fund outflows also weighed on the currency and equity market today. Globally markets were trading in green today, tracking the rally from Wall Street amid rise in oil prices, with many economies opening back from lockdown restrictions. Companies set to announce their earnings are Bharti Airtel, Torrent Power, Glaxosmithkline Pharmaceuticals, Astrazeneca Pharma, Maharashtra Scooters, Dr. Lal PathLabs among others.
Here's a look at the updates of the market action on BSE and NSE today
3.45 PM: Closing bell
Benchmark indices Sensex and Nifty closed sharply negative on Monday, as investors fretted over the extension of the nationwide lockdown and were concerned over the effectiveness of the fiscal stimulus package, announced over the last week. Sensex closed 1068 points lower at 30,028 and Nifty ended 313 points to 8,823.
3.34 PM: Market at day's low
Market fell today's low by the last hour of session today. Sensex was trading 1100 points lower at 29,973 and Nifty fell 314 points to 8,822
3.28 PM: Axis Bank drops over 9%
Axis Bank share price fell 9/3% intraday and traded as the top loser on Nifty after the bank cut lending rates by 5-15 bps across tenures
3. 10 PM: Rupee ends lower
Rupee the local unit ended lower at 75.91 per dollar today as against the earlier close of 75.56 per US dollar.
3.00 PM: Multiplex, hotel stocks hit 52-week low
Shares of multiplex and hotel operators cracked up to 15 per cent, hitting their respective 52-week low on the BSE on Monday, amid extension of the lockdown and disappointment with the stimulus package. Weighed down by the development, shares of multiplex operator PVR plunged 12.86 per cent to hit 52-week low of Rs 743.35, while Inox Leisure stock tumbled as much as 15.29 per cent to touch a new low of Rs 163.7.
In a similar trend, Tata Group's Indian Hotels, Lemon Tree, Wonderla Holidays, Benaras Hotels, Chalet and EIH from the hotel sector also touch their fresh 52-week low.
2. 40 PM: Kotak Bank shares fall over 5%
Kotak Bank share price traded as the top loser on Nifty, falling 5.76% intraday afetr the company cut its lending rates by 15-25 bps across tenures
2.20 PM: Gold at lifetime high
Tracking weak opening of domestic equities and sustained foreign fund outflows, Gold Futures for June on MCX gained Rs 369 to trade at 47750 per 10 gm, after rising to the day's high of 47929.
Internationally, Spot gold on Monday rose about 1% to $1,760, the highest since October 2012, and later traded up 0.85%.
2.00 PM: Market Update
After a week of consolidation trend on PM Modi announcing a stimulus package of Rs 20.97 lakh crore, Sensex and Nifty fell sharply with businesses already suffering from supply and demand restrictions.
Benchmark Sensex and Nifty pre-opened mildly higher on Monday, although erased early gains and opened sharply lower. In afternoon session, Sensex was trading 1,000 points lower at 30,109, while Nifty fell 254 points to 8,882.
1. 45 PM: India VIX hits 40
India VIX, that measures volatility in equity market on a daily basis, climbed to 40 today, indicating high volatility in the bourses
1.32 PM: Rupee trades lower today
Rupee the local unit depreciated 31 paise to 75.89 against the US dollar on the currency market today. As per forex traders, market participants are concerned about the effectiveness of the fiscal stimulus package and the impact of extended nationwide lockdown amid a significant rise in COVID-19 cases on the domestic economy.
1. 17 PM: Less clarity on economic stimulus
Investor sentiments were negative after with the FM refusing to tie the number four different tranche of announcements made over the week into a timeline. Many analysts also added that the supply side has received emphasis while demand initiatives are still awaited. Investors were also fretted over concerns of how these measures will revive the economy in the midst of COVID misery. Repurposed measures and already existing initiatives mixed with new elements were also part of the new announcements made.
The FM announced strategic reforms in eight sectors - coal, minerals, defence production, airspace management, airports, power distribution companies in Union Territories, space and atomic energy.
1.06 PM: Coal India share price top loser today
Coal India share price fell in early trade today after Narendra Modi government opened the coal mining sector to private players, ending the monopoly of the state run player.
Share price of Coal India lost 6.02% intra day to Rs 121.7 compared to the previous close of Rs 129.50 on BSE. Coal India stock is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has fallen 47% during the last one year and declined 41% since the beginning of this year.
12.53 PM: Market update
Benchmark indices Sensex and Nifty recovered from early losses, although traded lower on Monday, as investors fretted over the news of extension of the nationwide lockdown till May 31. The government's fiscal stimulus package also failed to revive confidence in domestic investors. Sensex was trading 818 points lower at 30,207 and Nifty fell 245 points to 8,890.
12. 30 PM: Gold gains today
Gold prices in India hit new highs, in line with overseas commodity markets amid virus led uncertainty.
The yellow metal that is seen as a hedge against inflation and currency debasement, gained today on concerns over US-China trade relations and comments by Fed head Powell, that helped encourage investors preferring the risk averse asset.
On MCX, Gold Futures for June month gained Rs 369 to trade at 47750 per 10 gm, after rising to the day's high of 47929.
12. 13 PM: Rupee traded lower today
Rupee, the local unit opened at 75.85, then lost further ground and fell to 75.89 against the US dollar, down 31 paise over its previous close.
11.57 AM: RIL gains in early session
Share price of Reliance Industries gained in early trade on Monday after US-based private equity firm General Atlantic said it would invest Rs 6,598.38 crore to acquire a 1.34 per cent stake in Mukesh Ambani's Jio Platforms.
Reliance Industries share price surged 1.62% to Rs 1,482 compared to the previous close of Rs 1458.90 in an otherwise falling market.
11.30 AM: Market falls to day's low
Benchmark indices Sensex and Nifty fell further to hit day's low on Monday, as investors fretted over the news of extension of the nationwide lockdown till May 31. The government's fiscal stimulus package failed to revive confidence in domestic investors. Sensex was trading 1000 points lower at 30,109 and Nifty fell 254 points to 8,882.
11.17 AM:Coronavirus toll
Worldwide, there are 4,805,210 confirmed cases and 316,732 deaths from the coronavirus COVID-19 outbreak as of today.
The total number of positive cases in India is now at 96,169, including 56,316 active cases, 36,824 cured/discharged/migrated cases, death toll stands at 3,029
11.09 AM: Top losers and gainers on Sensex
On the Sensex pack, ICICI Bank, followed by Axis Bank, SBI, Bajaj Finance, Titan, Maruti, IndusInd Bank, PowerGrid and ONGC were among the top losers. Meanwhile, Infosys and TCS were among the gainers today.
10.55 AM: Market falls further
Benchmark indices Sensex and Nifty erased early gains and fell sharply on Monday, as investors fretted over the news of extension of the nationwide lockdown till May 31. The government's fiscal stimulus package failed to revive confidence in domestic investors.
Sensex was trading 880 points lower at 30,218 and Nifty fell 254 points to 8,882.
10. 40 AM: Gold rises today
Gold price rose over 1% to near 7 year high on concerns over US-China trade relations.
Gold Futures were trading 0.59% higher at 1,763 per ounce, after rising
10.22 AM: Global market cues
Asian markets are trading with minor losses displaying a mixed trend taking cues from comments from Fed chairman.
Federal Reserve Chairman Jerome Powell has said that US, the world's largest economy, which has been thrown into a recession due to the coronavirus pandemic, will rebound from the recession due to coronavirus pandemic, but the recovery could stretch through the end of next year.
U.S. markets closed the volatile day on a positive note as investors weighed US-China trade relation, weak economic data and the prospects of re-opening economies.
European markets had closed higher on Friday as investors factored in re-opening of economies. However, weak Euro-zone GDP numbers kept upsides under check.
10.17 AM: Stocks to watch today on May 18
RIL, M&M Financial, Cipla, L&T Financials, Future Consumer, Tata Chemicals, DLF, ITC among others are the top stocks to watch out for in Monday's trading session
Meanwhile, companies set to announce their earnings are Bharti Airtel, Torrent Power, Glaxosmithkline Pharmaceuticals, Astrazeneca Pharma, Maharashtra Scooters, Dr. Lal PathLabs among others.
9.58 AM: Top losers/gainers
ICICI Bank, Zee Entertainment, Coal India, Kotak Bank and IndusInd Bank were among the top losers on Nifty today. On the contrary, Cipla, Infratel, Infosys, Britannia and TCS were among the top gainers today.
9.50 AM: Market falls further
Benchmark indices Sensex and Nifty erased early gains and fell sharply on Monday, amid weak domestic cues. Sensex was trading 800 points lower at 30,350 and Nifty fell 208 points to 8,928.
9.40 AM: Financials, banks drag market lower
Barring pharma, all the other indices were trading in red, with almost 5% fall in banking and financials sectors, followed by 3.5% decline in media and 2.5% loss in metal and auto stocks.
9.30 AM: Oil rises today
Oil rose in trade today, with multiple economies reopening borders and restrictions in trade and travel, offsetting fears over the resurgence of coronavirus in some countries.
Brent Crude traded at $33.81 per barrel, up 4.03%.
9. 20 AM: Opening bell
Market erased early gains and opened lower on Monday, amid weak domestic cues. Sensex was trading 190 points lower at 30,097 and Nifty fell 48 points to 9,087.
9.10 AM: Global cues
Asian stocks traded in green territory but were little changed as US Federal Reserve Chairman Jerome Powell said the economy stateside may need a coronavirus vaccine to fully recover. Earlier, SGX Nifty traded down 39 points at 9,086.
US stocks edged higher on Friday as a continued rally in oil prices offset retail-sales data and escalating tensions between the US and China.
US Futures (Dow Jones) traded at 23797, up 280 points or 1.19% on news the House of Representatives was set to vote on another $3 trillion coronavirus package that could be the opening bid in another round of fiscal stimulus.
9.00 AM: Pre open session
Benchmark Sensex and Nifty pre-opened mildly higher on Monday, tracking positive cues from overseas. Sensex rose 145 points higher to 31,248 and Nifty opened 21 points higher to 9,158.
8.40 AM: FII/ DII action on FridayOn a net basis, FIIs sold Rs 2,388.04 crore while DIIs bought Rs 1,225.53 crore in equities on Friday
8. 30 AM: Market Expectations
Benchmark Sensex and Nifty are likely to open on a muted note on Monday, bucking the general positive trend, on back of weakness in Nifty future on SGX. SGX Nifty traded 8 points lower at 9,099 level, indicating a tepid start in domestic grounds today.
8.20 AM: Q4 Earnings Today
Bharti Airtel, Torrent Power, Glaxosmithkline Pharmaceuticals, Astrazeneca Pharma, Maharashtra Scooters, Dr. Lal PathLabs, Gujarat Themis Biosyn, Delta Corp, Deccan Gold Mines, Allsec Technologies are among the top companies that will be reporting their March quarterly earnings.
8. 10 AM: Rupee Closing
Rupee traded in a narrow range and later closed flat at 75.56 per dollar
8.00 AM: Closing bell
Benchmark Sensex and Nifty erased early losses and closed flat with negative bias on Friday, inline with overseas trend, as investors anticipated positive measures in the 3rd tranche of announcements for the economic relief package. Sensex closed 25 points lower to 31,097, while Nifty ended 5 points lower at 9,136.
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