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Share Market Update: Sensex ends 86 points up, Nifty at 11,870; Bharti Infratel, Vedanta, BPCL top performers

BusinessToday.In     June 7, 2019

Share Market Update: Domestic equity benchmark indices Sensex and Nifty closed with minor gains Friday, after a range-bound trade that continued since the opening bell.

After snapping two days losing streak, Sensex ended marginally higher in today's volatile session, up by 86 points at, with 11 out of 30 components that traded on the positive, while the broader Nifty closed at 11,870, up by 26 points against previous close, with 20 out of 50 stocks trading in the green.

Sector wise, Nifty indices like Financial Services, Bank, IT, Service sector and Pvt Bank were the top gaining sectors, while worst fall was seen in Pharma, Realty and Auto.

The equity market indices opened lower on back of weak global cues and continued to trade negative with profit booking across sectors and stocks after logging worst single-day loss in 2019 yesterday. On Thursday, both benchmark indices posted their biggest one-day drop this year after the RBI delivered a rate cut on expected lines but failed to allay investor concerns regarding the non-banking financial company (NBFC) sector.

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

Closing Bell

3: 45 pm

After snapping two days losing streak, Sensex closed 86 points up whereas Nifty closed 26 points in the green. 

Global Update

3 : 22 pm

US stocks gained over half a percent or 0.7% amid the trade tensions and mixed economic data, backed up on hopes of an interest rate cut from the Federal Reserve. Earlier in the day, Trump said he would decide on whether to levy more tariffs on China "probably right after the G20," which is being held on June 28-29. That came after his overnight threat to put tariffs on "at least" another $300 billion worth of Chinese goods.

Forecasts are for U.S. jobs to rise in May, though doubts have grown after poor numbers on private hiring released earlier in the week. The closely watched monthly U.S. jobs report is to be released today.

European shares echoed an upbeat day in Asia, where indexes in Japan, Australia and South Korea all gained. Chinese and Hong Kong markets were closed for a public holiday. UK's PM Theresa May is to resign today.

MSCI world equity index, which tracks shares in 47 countries, edged up 0.16%.

Brent Crude

3: 10 pm

Oil prices jumped more than 2% on Friday, climbing further from five-month lows hit this week amid signs that OPEC and other producers may extend their output reduction deal, thus their supply cuts. Brent crude futures were up $1.35 at $63.02 a barrel by 0757 GMT. U.S. West Texas Intermediate (WTI) crude futures were up $1.10 at $53.69 per barrel. They gained 1.7% on Thursday.

HDFC Bank appoints MSKA & Associates  as auditors for 4 years, after RBI bans S.R. Batliboi  &  Co, HDFC's previously chosen auditor

2: 35 pm

RBI on June 3, S.R.B, the Statutory Auditor of the HDFC Bank, had decided not to approve S.R.B for carrying out statutory audit  assignments in commercial banks for one year starting from April 1, 2019, on account of lapses identified in a statutory audit assignment carried out by S.R.B.

Following this, the bank has informed the bourses that they have appointed MSKA & Associates as the Statutory Auditors of the Bank for a period of 4 years with effect from FY  2019-20, subject to the approval of the RBI and the shareholders at the ensuing  AGM of the bank.

Mahindra Logistics's Fund managers increase stake in company

2: 15 pm

Colonial First State Asset Management (Australia) & First State Investments (Singapore), Fund Managers of  Mahindra Logistics, have increased their stake as they bought 1.53% stake. After the acquisition, the total stake now stands at 5.99%.

Reliance Infra down 12%, RPower down 8%, prior earnings announcement

1: 55 pm

Shares of Reliance Infrastructure is down by 12% and Reliance Power as well, at 8%, before their quaterly earnings figures, scheduled to be posted today, as per BSE. Additionally, the share price of Reliance Infrastructure, that is currently trading at Rs 74.80, has hit a new all time low of Rs 72.80.

Crude extends gains, Brent approaches $63/bbl

1: 30 pm

Brent crude is trading at 62.68, up 1.64% or 1.01 from last close.

Market Update

1: 15 pm

Market failing to hold on to recovery, as Nifty is trading around 11,850 and Sensex around 39,500 level. Sector wise, Nifty indices like Financial Services, Bank, IT, Service sector and Pvt Bank are the gaining sectors, while worst fall is seen in Pharma, 1% down, followed by losses in Realty and Auto.

Eros international falls 19% intraday, hits fresh all-time low of Rs 42.50

1: 05 pm

Eros International Media share price extended losses for the third consecutive day to hit its fresh all-time low in trade today.  Rating company CARE cut Eros International's long-term bank facilities rating to default from BBB- on delay in debt servicing after which share price tanked 20% to 53.10 level in trade yesterday. Eros International Media share price fell to an intra day and all time low of 42.50 compared to its previous close of 53.10 on BSE.

Read more: Eros International share price extends losses post downgrade by CARE Ratings, hits fresh all-time low

Market Update

12: 50 pm

Nifty is trading up by 12 points and Sensex is up by 20 points. Market has fallen 0.03% while volumes have increased by 8.08%. Overall, 1269 Stocks have declined against 1097 advanced stocks. However, with more declining stocks, the overall market cap of the entire market has increased.

Nifty has been losing for the last 3 days and has fallen 2.10% in the period. Nifty traded higher than 20 day, 50 day, 100 day, 200 day but lower than 5 day moving averages.

On the sectoral front, Financial services, Bank and Realty were among the top gaining indices, followed by IT and Metal. Pharma was the major falling sector for the day, followed by Media, FMCG and Auto stocks.

52 -week low/high stocks today

12: 35 pm

Companies that hit 52- week low today were Cadila Healthcare at Rs 241, Glenmark Pharma at Rs 518.75, Lupin at Rs 714, Hindustan Zinc at Rs 241.70, Oracle Financial Services at Rs 3,290 and New india Assurance at Rs 160.05 on BSE. Today's only stock to hit 52-week high is Astral Poly Technik at Rs 1,349.

Wipro's founder Azim Premji to retire, after having led the company for 53 years

12: 15 pm

Company appointed Azim Premji as Non-Executive Director for 5 years and re-appointed Rishad Premji as Whole-Time Director. Azim Premji to retire from his current position as Executive Chairman & MD. Wipro Ltd was trading 0.67% higher at Rs 293.5.

Read More: 'Son' Rise at Wipro: Tech major announces change of guard as Rishad Premji appointed new Executive Chairman

Indiabulls Real Estate promoters sells stake, company to focus on financial services in the long run

11: 55 am

Company informed the bourses that, in line with firm's promoters' strategy to focus on financial services in the long run, the promoters intend to dispose-of up to 14% of the fully paid-up share capital of the firm(out of the aggregate 38.72% fully paid up share capital of the Company, currently held by them) to third party investors.

Folloing the release, media reports confirmed on Embassy Group purchasing a 12 percent stake in Indiabulls Real Estate.

Read More: Indiabulls Real Estate stock rises up to 15% on promoters' plan to sell stake

Sectors

11: 45 am

On the sectoral front, Financial services, Bank and Realty were among the top gaining indices, followed by IT and Metal. Pharma was the major falling sector for the day, followed by Media, FMCG and Auto stocks.

Brent Crude

11: 30 am

Brent crude, the global benchmark, was trading at 62.53 per barrel higher by 1.39 per cent.

Rupee opens higher Vs Thursday's close

11: 10 am

The rupee opened marginally higher and touched 69.21 against the US dollar in opening trade Friday, after the Reserve Bank cut key interest rates by 0.25 percentage point.

GIPCL completes 75 MW Solar Power Project at Gujarat Solar Park

11: 00 am

GIPCL has successfully commissioned 75 MW Solar Power Project at Gujarat Solar Park, Village Charanka, Dist. Patan, Gujarat, in a phased manner on 4th June, 2019.

Aurobindo denies all the contentions and allegations set out in the media report, in clarification to exchanges

10: 55 am

Aurolife Pharma LLC, a step-down wholly owned subsidiary in USA and Mr. P.V. Ramprasad Reddy, Director have been made party to a litigation proceeding in the United States of America and a copy of proceeding is yet to be received. The company denies all the contentions and allegations set out in the media report.

On preliminary examination of the compliant, the Company has been advised by its legal advisors that the case appears to be devoid of merits and consists of baseless allegations against the Company, Aurolife and Mr. P.V. Ramprasad Reddy alleging fraud, negligent misrepresentation and the failure of the Company and Aurolife to fulfill their obligations, inter-alia, under a supply contract entered into with the Company.

Dilip Buildcon's subsidiary recieves order from NHAI

10: 45 am

DBl-Bansalore Nidagatta Highways Private Limited-,a wholly owned subsidiary of the firm has recieved order on May 14 2019 by the National Highways Authority of India for constrution of six laning of Bangalore-Nidagatta Section km. 18.000 to km. 74.200 of NH-275 in the State of Karnataka to be executed on Hybrid Annuity Mode, of project cost worth 2190 cr. the period of construction for 30 months.

Large Deal/Multiple block deals in Indiabulls Real Estate at opening bell

10: 25 am

Overall 5.7 cr shares worth of 12.8% equity were exchanged at the price range of Rs 139-145 witha total exchanges value of Rs 819 cr.

Reliance Life Insurance makes open offer to acquire stake in Reliance Nippon Life Asset Management

10: 10 am

Nippon Life Insurance Company, the acquirer has made a cash offer to acquire up to 13.82 crore fully paid up equity shares of Rs 10 each, representing 22.49% of the expanded voting share capital, at a price of Rs 230 per equity share, as amended from the public shareholders of Reliance Nippon Life Asset Management Limited.

Market Update

9: 55 am

Of 30 Sensex stocks, 26 were trading in the red. Pharma and auto stocks led the losses with their BSE indices falling 163 points and 111 points, respectively. In the sectoral front, Realty is the top gaining sector, ahead by 1.1%, followed by PSU Bank, up at 0,53% and Metal, gaining at 0.42% and Infra, at 0.17 % gain. Worst fall was seen in Nifty Pharma, down by 1.38%.

Gainers and Losers

9: 45 am

Top Sensex losers were Maruti (1.61%), HUL (1.12%) and Sun Pharma (0.72%).Vedanta (1.68%), Hero MotoCorp (0.86%) and SBI (0.65%) were the top Sensex gainers.

Market Update

9: 35 am

Indices slip into the red. Sensex loses 214 points to 39,315 and Nifty falls 62 points to 11,781. Mid cap and small cap indices were trading 53.56 points and 12 points lower in early trade.Market breadth was negative with 415 stocks trading higher compared to 601 falling on the BSE.

DII and FII

9: 25 am

On a net basis, foreign portfolio investors (FPIs) sold shares worth a net of Rs 1448 crore on Thursday, and domestic institutional investors (DIIs) were net sellers to the tune of Rs 650.84 crore, provisional data available with BSE showed.

Opening Bell

9: 15 am

While Sensex rose 16 points to 39,546 in early trade, Nifty climbed 6 points to 11,850.

Thursday's Closing

9: 00 am

On Thursday, Sensex declined by 553 points to close at 39,529, with 23 components declining, while broader index Nifty was down by 177 points to 11, 843 level, with 36 stocks declining on the closing bell.


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