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Share Market Update: Sensex closes at 39,140, Nifty down 34 points; SpiceJet, Reliance, Tata Motors top gainers

BusinessToday.In     April 18, 2019

Snapping four-day gaining streak, Indian benchmark indices, Sensex, Nifty, closed lower in volatile trade on Thursday, tracking weak cues from Asian peers. The market sentiment was dented by decline in banking stocks after cash-strapped Jet Airways was forced to suspend all its international and domestic flights operations after running out of funds. Shares of Mukesh Ambani-led Reliance Industries closed 2.79 per cent higher at Rs 1382.90 ahead of its March quarter earnings report slated to be released later today.

The BSE Sensex closed at 39,140, down by 136 points, and the NSE Nifty ended at 11,752, down by 34.40 points. RIL, Wipro, Tech Mahindra, ICICI Bank, SpiceJet, Interglobe Aviation, HDFC, HDFC Bank, were the major gainers in the indices, while Jet Airways, Infosys, TCS and Hindalco were among top laggards.

The Market breadth, indicating the overall strength of the market, was negative. Out of 2,906 shares traded, 965 advanced, 1,746 declined, while 195 remained unchanged. On the sectoral front, except Energy, all of the other BSE sectoral indices were trading in the red.

Here's a look at live updates for the Indian share market today:

3:30 pm: Reliance Industries (RIL) share price closed at Rs 1384, up 2.88 per cent, on BSE, ahead of its March quarter earnings report, which is to be released later today.

3:10 pm: Market has fallen 0.26% while volumes have increased by 8.80%.

2:45 pm: RIL, Wipro, Tech Mahindra, ICICI Bank, SpiceJet, Interglobe Aviation, HDFC, HDFC Bank, are the major gainers in the indices, while losers are Jet Airways, Infosys, TCS and Hindalco.

2:30pm: Jubilant Life Sciences, an integrated global pharmaceutical and life sciences company, informed the exchanges that the company has issued commercial papers of Rs 100 crore today. The stock is currently trading at Rs 695, 0.64 % up or 4.45 points up on BSE.

2:10 pm: RIL, Wipro, Tech Mahindra, ICICI Bank, SpiceJet, Interglobe Aviation, HDFC, HDFC Bank, are the major gainers in the indices, while losers are Jet Airways, Infosys, TCS and Hindalco.

1:50 pm : HCL Technologies (HCL), a leading global technology company, today announced it has become a Google Cloud Platform (GCP) Premier Partner. The new partnership will help enterprises accelerate the adoption of GCP at scale and further strengthens HCL's portfolio of cloud services. The stock is currently trading at Rs 1095, down 11 points or 1 %.

1:30 pm: Crisil's shares fell 5% to touched an intraday low of Rs 1529 as the company announced quarterly results yesterday. In the March quarter, the consolidated profit fell to Rs 76.64 crore versus Rs 82.21 crore, while the revenue declined to Rs 415.79 crore versus Rs 419.95 crore YoY. The company also approved payment of an interim dividend of Rs 6 per share for the financial year ending December 2019.

1:10 pm: Shares of Star Cement grew as much as 6.8 percent to Rs 107.40 on BSE as the company received Rs 174.48 crore towards its freight subsidy claims from the Central Government.

12:50 pm: Shares of the private lender RBL Bank fell as much as 1.8 percent to Rs 668.10 per share after its March quarter results were announced today. The stock had a trend reversal after 3 days of consecutive gain. While the bank's net interest income rose 47.6 percent to Rs 738.72 crore, the net profit rose 38.8 percent to Rs 247.18 crore.

12:30 pm: Shares of GRUH Finance and Bandhan Bank grew percent 3-4% intraday Thursday as the Competition Commission of India (CCI) has considered the proposed combination and approved the merger of both the companies.

12:20 pm: The Heavy Engineering arm of Larsen & Toubro has won significant contracts for critical reactors, equipment and systems for Process Plant sector, against stiff global competition. the contract is vlaued in the range of 1000- 250 crore. The company also announced its shareholding, where LIC has cut its stake to 17.88% in March quarter as compared to 18.62% in December quarter. The L&T stock is currently trading at 1.39% down at Rs 1363.35.

12:10 pm: M&M and Ford India have entered today into an agreement for development and supply of a new midsize sports utility vehicle (C-SUV). The term of the agreement will be for a period of 10 years for development, manufacture and supply of C-SUV by the company to Ford. M&M stock is currently trading at 0.33 % down at Rs 685.

12:00 pm: Except Energy, Auto and Oil and Gas, most of the other BSE sectoral indices are running in the red.

11:50 am: Nifty had a trend reversal after 4 days of consecutive gain. Market has fallen by 0.36% while volumes have increased by 9.24%. Overall 1503 Stocks have declined against 712 advanced stocks and market cap of the entire market has fallen by 0.43%.

11:40 am: Shares of Wipro gained 3 % to touch the intrday high of Rs 289.65 after it reported a 38.4 percent YoY jump in net profit. The stock is 3.72% away from 52 week high of Rs 297. The board of Wipro has also approved a share buyback of 3.23 crore shares at Rs 325 apiece, aggregating Rs 10,500 crore.

11:30 am: While the Sensex is down 75 points or 0.19% at 39,200, Nifty is down 40 points or 0.20% at 11,760.

11:20 am: Shares of the Mukesh Ambani-led conglomerate Reliance industries Ltd. (RIL) rose 2.9 % intraday to Rs 1,385 per share, ahead of Q4 results, becoming the top gainer on both indices. The stock is 1.96% away from 52 week high of Rs 1,406.50

11:10 am: A total of 38 sectors have declined (Top loser: BSE Realty -1.25 %) while 5 sectors are advancing (Top gainer: BSE Energy 1.41%). BSE telecom is the most volatile index with a volatility of 4.10 %.

11:00 am: The government is targeting to raise about Rs 1,500 crore from initial public offerings (IPOs) of two railway companies -- IRCTC and IRFC -- by September, an official said.

"We are working to bring IPO of Indian Railway Catering and Tourism Corporation (IRCTC) and IRFC by September. IRFC may have to go to Cabinet again after elections," an official said.

10:50 am: Interglobe Aviation gained at 16% for the last 6 day and rose 4.3 percent intraday to a record high of Rs 1650 apiece, also its new 52 week high value.

10:40 am: Spicejet opened with a gain of 8.52% and touched a new high of Rs 152.60. The stock has been gaining for the last 5 days and has risen 51.61% in the period. The company announced today it will induct 6 more Boeing 737-800 NG aircraft on dry lease. The total number of planes to be inducted in the immediate future now stands at 27. It is the top gainer on the BSE platform.

10:20 am: While Max Financial (6.48%) Gruh Finance (4.24%) Interglobe Aviation (4.00%) were among the top gainers of the day, Oberoi Realty (-2.72%) Graphite India (-2.67%) Reliance Capital (-2.65%) were trading as the top losers.

10:00 am: Mindtree has recommended a Final Dividend of 40% (Rs. 4 per equity share of face value of Rs. 10/- each) for the financial year ended March 31, 2019 and a Special Dividend of 200% (Rs. 20/- per equity share of face value of Rs. 10/- each) to celebrate the twin achievements of exceeding USD 1 billion annual revenue milestone and 20th anniversary of the company.

9:50 am: Jet Airways falls over 30% as the company suspends all operations temporarily. The stock has touch a lower circuit of Rs 217.70 intraday. The stock opened with a gap down chart pattern at a loss of 9.99% and touched an intraday low of Rs 168.60 (-30.29%).

9:40 am: On the sectoral front, auto, energy and bank are trading higher, while selling is seen in the metal, IT and infra.

9:30 am: The Market breadth, indicating the overall strength of the market, was flat for the day. 15 stocks are running in the green of 30 on Sensex and 24 are advancing out of the 50 stocks on Nifty.

9:15 am: Opening Bell: A strong start for the day with Sensex gaining 150 pts and Nifty opening above 11,800 level.

9:05 am: The Indian rupee opened higher by 14 paise at 69.46 against the dollar. The rupee closed at 69.60, down 18 paise against the US dollar on Tuesday.

9:00 am: Indian indices are trading higher in the pre-opening session, with the Sensex is up 133.08 points or 0.34% at 39408.72, and the Nifty up 87.40 points or 0.74% at 11874.60.

Indian market is expected to open flat on Thursday, following Asian cues on subdued trading due to the negative performance on the Wall Street. Cautious trading is expected of the investors as the country will go to the second phase of the Lok Sabha election 2019 , with a total of 95 constituencies in 11 states going to poll today.

Asian shares were subdued on Thursday after a negative performance on Wall Street, with caution ahead of business surveys in Europe and Japan, and the Good Friday and Easter holidays keeping investors on the sidelines.

Brent crude futures were at $71.51 a barrel, down 11 cents, or 0.2%, from their last close.

All three major US stock indexes ended the session in negative territory, with the Dow Jones Industrial Average falling 3.12 points or 0.01 percent, to 26,449.54, the S&P 500 losing 6.61 points, or 0.23 percent, to 2,900.45 and the Nasdaq Composite dropped 4.15 points, or 0.05 percent, to 7,996.08.

Domestic stock, bond, commodity and forex markets remained closed on Wednesday on account of Mahavir Jayanti.

On Tuesday , Indian equities, the BSE Sensex and the NSE Nifty, closed on a strong note, hitting fresh record highs in the intra-day trade, led by a surge in buying across financials, auto and fast moving consumer goods (FMCG) space. The investor sentiment was buoyed by a 'near normal' monsoon forecast by the India Meteorological Department (IMD) and dovish comments from the Reserve Bank of India after it slashed report rates by another 25 basis points. The BSE Sensex hit an all time high of 39,364.34 in intra-day trade and the NSE Nifty crossed 11,800 mark to hit a fresh high of 11,810.95.

Paring some of early gains, the BSE Sensex closed at 39,275.64, up by 369.8 points or by 0.95 per cent, and the NSE Nifty settled at 11,787.15, up by 96.8 points or by 0.83 per cent on Tuesday.

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