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Markets Update: Sensex closes 227 points up, Nifty at 11,318; Sun Pharma, Vedanta, Delta Corp top gainers

BusinessToday.In     May 14, 2019

Share Market Update: Breaking the nine consecutive falling streak, Benchmark Indices BSE Sensex and NSE Nifty closed in the green today, led by gains in PSU Banks, Pharma and Realty stocks. While Sensex closed 227 points or 0.61 per cent up at 37,318 with 17 components in the green, Nifty ended 73 points or 0.66 per cent up at 11,318.53.

On the sectoral front, except IT, all the other indices were trading in the green. Broad Market indices were advancing as well, with Nifty SmallCap gaining over 1 per cent. On the contrary, IndiaVix was the only index trading in red, down by 1.70 per cent.

The Sensex has lost 2,000 points during the last nine sessions with investors wealth falling by 8.53 lakh crore on BSE.

Closing Bell

03 : 45 pm

While Sensex closed 227 points or 0.61 per cent up at 37,318 with 17 components in the green, Nifty ended 73 points or 0.66 per cent up at 11,318.53.

Gainers and losers

03 : 15 pm

Top gainers on BSE are Delta Corp, IIFL, DCM Shriram, Manappuram Finance and Reliance infra.

Top losers on BSE are Jet Airways, SAIL, Sterlite Tech, Reliamce Comm. and Symphony.

Top gainers on NSE are Sun Pharma, Vedanta Ltd., GAIL, Adani Ports and Indiabulls Housing Finance.

Top losers on NSE are Tech Mahindra, Bajaj Finance, Bajaj Auto, Infosys and Tata Steel.

Siemens Q2 results out

03 : 00 pm

Company's net profit jumped 27% to Rs 280 crore for the second quarter of FY19 over the same period last year. Company's revenue stood at Rs 3,461 cr,up by 9.4 percent increase over the corresponding quarter.

Edelweisis Audited Financial Results

02 : 25 pm

In the fourth quarter, total revenue of the firm stood at Rs 2,942 cr compared to Rs 2,586 cr for the Q4FY18. For the financial year,

total revenue Rs 10,886 cr versus the Rs  8,920 cr for previous year. Profit after tax for the year standa at Rs 995 cr, up 15 per cent compared to Rs 863 cr for the previous year.

Board of the company has recommended a final dividend of Rs 0.30 per equity shares of the face value of Rs 1 each, subject to the declaration by the members at the ensuing Annual General Meeting (AGM) of the Company.

Delta Corp denies allegations on GST tax evasion, stock top gainer on BSE

01: 45 pm

Delta Corp today informed the exchnages in regards to clarification on GST tax evasion.Company added in the regulatory fiing,"We have not received any Notice of a case having been booked against Delta Corp Limited or Highstreet Cruises and Entertainment Private Limited for any alleged evasion of GST. We believe we are in compliance with GST laws and have not evaded any GST."

Following the filing, the stock price of Delta Corp rallied more than 13 % to intraday high of Rs 210.80. The stock has gained after 6 days of consecutive fall.

Subsidiary of L&T Infotech (LTI) enters into a global partnership with a Swiss co for cloud solutions

01 : 35 pm

"Syncordis S.A., a wholly owned subsidiary of Larsen & Toubro Infotech (LTI), today announced a strategic global partnership with Temenos, the banking software company. This partnership will enable Syncordis to seamlessly offer an array of Temenos certified services to banks across the globe.

This partnership will enable Syncordis to drive innovation with cloud-native, cloud-agnostic Temenos T24 Transact and Temenos WealthSuite," company said in the regulatory filing.

Jet airways reponds on non payment of employees' PF for March

01 : 15 pm

In relation to "Regional Provident Fund Commissioner issues notice to Jet Airways for not depositing PF of employees since March 2019, the Company has received notice from the Provident Fund Office in respect of non-payment of provident fund dues for the month of March 2019. The Company officials are engaged with the Authority to address the matter," Jet Airways said in the regulatory filing.

7 Indian drug makers named in US lawsuit

12 : 50 pm

The 7 Indian drug makers named in the lawsuit are Wockhardt, Dr Reddy's Laboratories, Aurobindo Pharma, Glenmark Pharmaceuticals, Lupin, Zydus Pharma (Cadila Healthcare), and Taro Pharmaceutical Industries - a subsidiary of Sun Pharma, which is India's largest pharma company by sales.

Motherson Sumi's promoter creates and releases pledge shares

12 : 35 pm 

Mothersumi has inofrmed the exchanges that SAMIL (Samavardhana Motherson International Limited) created fresh pledge on 30 lakh shares, 0.09% of share capital on May 6 and released 15 lakh shares, 0.05 % of share caital on May 7.

CRISIL downgrades DHFL commercial papers worth Rs 850 crore

12 : 25 pm

Rating agency CRISIL Ratings has downgraded commercial paper worth Rs 850 crore of Dewan Housing Finance Corporation driven by weak liquidity condition of the company.

DHFL's commercial papers were downgraded to A4+ from A3+. Its rating also continues to be on 'Rating Watch with Negative Implications'.

Vodafone Idea says strategic initiatives taking effect

12 : 15 pm

India's largest telecom operator Vodafone Idea said its consolidated loss has narrowed sequentially to Rs 4,881.9 crore in March 2019 quarter, as strategic initiatives to improve revenue and average realisation from subscribers helped financials.

Brent Crude

12 : 00 pm

Brent Futures, global crude oil benchmark, traded higher at USD 70.30 per barrel, up 0.10 per cent, on concerns about supply disruptions in view of geo-political tensions in the crucial oil producing region of the Middle East.

Aurobindo Pharma denies all relevant accusations in clarification

11 : 35 am

"In December 2016, the Attorney General of the State of Connecticut along with the Attorneys' General of various other U.S. states filed a lawsuit in Federal Court alleging that Aurobindo and other companies in the U.S. generic drug industry had violated antitrust laws by fixing prices and allocating customers (the 'First State AG Action'). On 18 June 2018, an Amended Complaint was filed in the First State AG Action. Aurobindo has denied all the relevant accusations in the First State AG Action and is vigorously defending against the matter," the company said in a regulatory filing.

Aurobindo Pharma added that it is currently reviewing the second lawsuit and said "we expect that we will be filing papers with the Federal Court in due course denying each of the relevant accusations".

Meanwhile, shares of Aurobindo Pharma were trading 0.40 per cent lower at Rs 714.45 apiece on BSE Tuesday.

Indian Rupee

11 : 20 am

The rupee opened at 70.43 at the interbank forex market, displaying gains of 9 paise over its last close. The rupee recovered marginally and opened 9 paise higher at 70.43 against the US dollar Tuesday amid weak global cues and foreign fund outflows.

Zydus Wellness clarifies to the Exchanges

11 : 15 am

With reference to the emails received from both the stock exchanges seeking clarification on the news item "Pharma stocks bleed as US states file lawsuit against generic drug firms, we would like to inform that the said news item, does not pertain to Zydus Wellness Limited, but in fact pertains to Cadila Healthcare Limited, the parent Company.

Market Update

10 : 56 am

Sensex trading 5 points lower at 37,085, Nifty falls 9 points to 11,138. Market breadth was negative with 563 stocks advancing against 986 falling on BSE. Sun Pharma, Vedanta and ICICI Bank were the top gainers on Sensex. Tata Steel, Bajaj Auto and Asian Paints were the top losers on Sensex.

The Sensex and Nifty have been falling for the tenth consecutively session on the back of slowdown fears, ongoing US-China trade tensions and political uncertainty ahaed of Lok Sabha election results on May 23. The Sensex has lost 2,000 points during the last nine sessions with investors wealth falling by 8.53 lakh crore on BSE. Investors are concerned over factory output decline, weakness in high-frequency indicators such as auto sales, and credit crunch in non-banking financial companies (NBFCs).

Global Scenario

10 : 45 am

With investors worried about the potential economic damage on all sides from the escalating trade war, the Dow Jones Industrial Average fell 617 points, or 2.4%, and the technology-heavy Nasdaq plunged 270 points, or 3.4%, its biggest drop of the year. Earlier, stocks fell in Europe and Asia.

Vodafone Idea's consolidated loss narrowed

10 : 30 am

Telecom operator Vodafone Idea said its consolidated loss has narrowed sequentially to Rs 4,881.9 crore in March 2019 quarter, as strategic initiatives to improve revenue and average realisation from subscribers helped financials. The loss has narrowed from Rs 5,004.6 crore during the third quarter of 2018-19, aided by 3.4 per cent drop in total expenses.

Sun Pharma amid US Lawsuit

10 : 09 am

Sun Pharma is the top Sensex gainer today a day after the stock fell 20% intra day amid reports that a lawsuit has been filed against generic companies in the US. A lawsuit has been filed against Teva Pharmaceuticals and 19 other generic companies in the US. The lawsuit named Taro Pharmaceuticals USA, the US-based subsidiary of Sun Pharma too.

Jet Airways stock down

10 : 05 am

Jet Airways says Amit Agarwal, deputy chief executive officer and CFO of the company has resigned. Jet Airways' stock is the top loser on BSE, falls nearly 15% on BSE. The stock is down 17% in the last two days.

Losers and Gainers

09 : 35 am

Sun Pharma (4.25%), Vedanta (2.66%) and ICICI Bank (1%) were the top Sensex gainers.

Top Sensex losers were ONGC (1.37%), HDFC (1.26%) and Tata Steel (1.15%).

Monday Closing

09 : 30 am

On Monday, Sensex closed 372 points or 0.99 per cent lower at 37,090, Nifty ended at 11,148 down 130.70 points or 1.16 per cent. Meanwhile, mid cap and small cap indices were trading 50 points and 70 points lower in early trade. Market breadth was negative with 494 stocks trading higher compared to 1137 falling on BSE.


09 : 20 am

On a net basis, foreign portfolio investors (FPIs) sold shares worth a net of Rs 1,056 crore on Monday, and domestic institutional investors (DIIs) were net buyers to the tune of Rs 1057 crore, provisional data available with BSE showed.

Opening Session

09 : 15 am

Sensex fell 24 points to 37,066 with 18 components in the red, Nifty lost 22 points to 11,124. Capital goods stocks led the losses with the BSE index falling 117 points to 17,174. BSE IT index also fell 92 points with their index reaching 15,426.

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