Share Market Update: Sensex ends 114 points higher, Nifty at 9,106; Hindalco, Hero MotoCorp, ITC top performers
BusinessToday.In May 21, 2020
Sensex, Nifty Updates: Domestic equity indices Senex and Nifty erased early gains, although closed higher on Thursday, the expiry day for F&O, amid mixed trend in global equities. Where Sensex ended 114 points higher at 30,932, Nifty closed 39 points higher at 9,106. Overseas, Nikkei was trading lower by 0.07%, Hang Seng is trading lower by 0.32%. European indices reversed trend and fell in red today, with more concerns of second wave of coronavirus infections rising in many countries. On Wednesday, Sensex ended 622 points higher at 30,818 and Nifty ended 187 points higher at 9,066. Companies set to announce their earnings are Hindustan Zinc, Birla Corporation, Bajaj Holdings, Bajaj Finance, Hawkin Cookers, Aptech, Colgate-Palmolive, Tata Metaliks, VST Industries, Quick Heal, Jubilant Industries among others.
Here's a look at the updates of the market action on BSE and NSE today
3.50 PM: Closing Bell
Domestic equity indices Senex and Nifty erased early gains, although closed higher on Thursday, the expiry day for F&O, amid mixed trend in global equities. Where Sensex ended 114 points higher at 30,932, Nifty closed 39 points higher at 9,106.
3. 30 PM: Dr. Reddy share price falls 2%
Dr. Reddy share price fell 2% today after the company reported its March quarterly results.
The company reported net profit of Rs 764 crore during the quarter ended March 31, 2020, as against profit of Rs 343 crore, recorded in a year-ago period. Net Interest Income rose 10% (YoY) to Rs 4432 crore in the January-March quarter of the current fiscal as compared to Rs 4,2563 crore in a year ago period.
3.13 PM: Market erases trend
Domestic equity indices Senex and Nifty erased early gains on Thursday, the expiry day for F&O, amid weakness in global equities. Where Sensex rose 106 points higher at 30,925, Nifty traded 31 points higher at 9,098.
2. 58PM: Global cues turn negative
Overseas, Nikkei was trading lower by 0.07%, Hang Seng is trading lower by 0.32%. European indices reversed trend and fell in red today, with more concerns of second wave of coronavirus infections rising in many countries.
Meanwhile, US markets ended higher yesterday as gains in technology stocks, optimism about economic recovery and expectations of further stimulus measures by Fed Reserve kept setiments buoyed.
2. 47 PM: Nifty Technical outlook
As per Standard Chartered report, Nifty50 technical supports are placed at 8960 and 8745 while resistances are at 9140 and 9230 levels
2.35 PM: Natco Phara share price gains 3.8%
Natco Pharma share price touched an intraday low of Rs 580.3, falling 3.81% on BSE after the company announced successful closure of inspection and receipt of an Establishment Inspection Report (EIR) from the USFDA for its drug formulations manufacturing facility at Visakhapatnam (Vizag) Andhra Pradesh.
2. 20 PM:Jubilant Foodworks share price gains 6%
Jubilant Foodswork share price opened with a gain of 3.06% and later rose 5.93% to an intraday high of Rs 1614.8, after the company reported its quarterly result.
The company reported a 71% fall in its net profit at Rs 21 crore during the quarter ended March 31, 2020, as against profit of Rs 73.9 crore, recorded in a year-ago period. Total income gained 3.8% (YoY) to Rs 898 crore in the January-March quarter of the current fiscal as compared to Rs 865 crore in the same period last financial year.
2.00 PM: Global cues
Asian markets are trading mostly higher tracking overnight gains in global markets and crude price as hopes climb on economic recovery.
U.S. markets closed higher as retailers Target and Lowe's post better results. However, sentiments were flattened as a bill to delist Chinese shares was passed in Senate.
European markets closed higher as investors remained focused on earnings and measures taken globally to re-open economies. EU zone inflation was revised down to 0.3%.
1.45 PM: Top gainers and losers today
Bajaj Auto, followed by Hero MotoCorp, Kotak Bank, HDFC Bank, Asian Paints and Maruti were among the major gainers in SEnsex pack. NTPC, ONGC, ITC and Tech Mahindra were among the top laggards.
1.30 PM: Gold prices fall today
Gold price were falling today after rising for the past week as countries announced more economic measures and uncertainty over corona vaccine persisted but upside was capped as equities gained. On MCX, gold prices were trading by Rs 337 at 46,800 after rising to the day's high of 47,05.
1.15 PM: RIL shares gain today
Reliance Industries share price gained marginally higher to the intrady high of Rs 1,460 after is in active talks with KKR and Co to raise between $750 million to $1 billion. The deal with the American global investment firm is expected to reach completion in the coming weeks, as per report by Economic Times.
12.56 PM: Cipla share price gains in early trade
Cipla share price gained in early trade after the company receives final approval for generic version of Migranal (Dihydroergotamine Mesylate Nasal Spray 4mg/mL) with a competitive generic therapy designation. Cipla shares rose to the intrady high of Rs 622 as against the last closing value of Rs 626
12.45PM: Airline stocks gain momentum
Aviation sector stocks such as SpiceJet and InterGlobe Aviation rose up to 10% after Civil Aviation Minister Hardeep Singh Puri said that domestic flights will resume from May 25 "in a calibrated manner". Share price of country's leading airline InterGlobe Aviation gained up to 9.88% to Rs 1,002 compared to the previous close of Rs 911.90 on BSE. InterGlobe Aviation share with a gain of 9.88% on BSE. Total 1.89 lakh shares of InterGlobe Aviation changed hands amounting to turnover of Rs 18.31 crore.
12.30 PM: Oil price gains today
Globally, markets were rising today, on bak of rise in oil prices, with more economies announcinf re-opening from lockdown restrictions.
Brent crude futures, the global oil benchmark, gained 1.40% to $36.25 per barrel.
12.00 PM: Nifty outlook today
Expresssing views over Nifty's near term outllok, Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking said," Going ahead, we expect the Nifty to continue this upward trajectory towards 9150-9220 levels. On the flipside, 9000-8932 would now provide a decent support for the market. share price".
11. 30 AM: Rupee rises today
Indian Rupee, the local unit appreciated 13 paise to 75.67 against the dollar today, tracking positive opening of domestic equity market, This was in comparison to its earlier closing of 75.80 against the US dollar.
10.53 AM: IRCTC share price locks 5% upper circuit
IRCTC stock price jumped 5% with the opening bell today after the government announced that 200 trains will restart functioning. IRCTC share price jumped 5% intraday to the high of 1400.70 at opening session as against the last closing value of Rs 1334 on BSE.
10.40 AM: Market gains momentum
Sensex and Nifty traded higher on Thursday, the expiry day for F&O, backed by buying pressure in banking, financials and pharma stocks. Where Sensex rose 250 points higher at 31,070, Nifty traded 67 points higher at 9,133.
10.30 AM: Nifty outlook
As per Reliance Smartmoney Reserch, due to consecutive rise in the index, its major technical indicators turned mix. In case the index manages to surpass its short-term moving average (placed around 9,150 mark), undergoing positive momentum will continue. This could lead the index towards 9,500 and then 9,600 levels. On the lower side, 8,800 mark will continue to work as key reversal point.
The report further said that for the day, support is placed at around 8,920 and then at 8,800 levels, while resistance is observed at 9,150 and then at 9,355 levels.
10.15 AM: Global cues
Asian stocks edged higher, barring SGX Nifty and Nikkei. Meanwhile, US stocks closed higher as signs of additional economic stimulus raised hopes of a swift recovery from a coronavirus-driven slump.
However, futures in the US and Europe retreated, halting this week's rally for global equities. US Futures (Dow Jones) traded at 24363, down 156 points or 0.64%.
10.09 AM: WHO concerns over rising cases in poor nations
On Wednesday World Health Organization expressed concern for the rising number of new coronavirus cases in poor countries, when many rich nations are emeging from lockdown.
9.52 AM: Market gains momentum
Where Sensex rose 185 points higher at 30,975 and Nifty traded 50 points higher at 9,125. Traders said investors were buoyant over ease in lockdown restrictions and restart of domestic flights and railways.
9. 46 AM: Coronavirus toll
Although experts said, investor sentiments kept trades cautious amid concerns over the rising number of COVID-19 cases in the country and the economic fallout of the nationwide lockdown.
In India, coronavirus cases continued to rise to the highest single day spike, despite a lockdown. The total number of cases in the country has reached 112,359, with 45,422 recoveries and 3,435 deaths.
Worldwide, there are 5.08 lakh confirmed cases and 3.29 lakh deaths from the coronavirus COVID-19 outbreak as of today.
9.31 AM: Latest result date announcements
Zenotech Laboratories: May 23, 2020
Coromandel International: May 26, 2020
Sagarsoft: May 27, 2020
3M India: May 29, 2020
Ultramarine & Pigments: June 1, 2020
9. 25 AM: Global cues
Markets globally traded on a higher note today, barring SGX Nifty and Nikkei, as investors sentiments were buoyed with many economies re-opening, although kept cautious stance over the fears of second wave of coronavirus.
9.20 AM: Opening Bell
Tracking the global bullish rally, domestic equity indices Sensex and Nifty opened higher on Thursday. Traders said investors were buoyant over ease in lockdown restrictions and restart of domestic flights and railways. Where Sensex opened 98 points higher at 30,917, Nifty started the day at 42 points higher at 9,108.
9. 13 AM: Stocks to watch today on May 21
Dr Reddy, JSW Energy, Natco Pharma, Colgate, Bajaj Finance, Jubilant Industries among others are the top stocks to watch out for in Thursday's trading session
9.00 AM: Pre open session
Extending gains for the third consecutive session, domestic indices opened higher at pre open session today. Sensex rose 85 points higher at 30,904 and Nifty traded 26 points higher at 9,092.
8.50 AM: Earnings today
Companies set to announce their earnings are Hindustan Zinc, Birla Corporation, Bajaj Holdings, Bajaj Finance, Hawkin Cookers, Aptech, Colgate-Palmolive, Tata Metaliks, VST Industries, Quick Heal, Jubilant Industries among others.
8. 40 AM: SGX Nifty
SGX Nifty on the Singaporean Exchange, was trading muted today, falling 20 points lower at 9,063.
8.30 AM: Rupee closing
Rupee the local unit ended lower at 75.79 per US dollar as against its earlier closing of 75.63 per US currency.
8. 10 AM: Closing session
Domestic equity indices Sensex and Nifty closed higher on Wednesday, amid mixed cues from overseas, backed by buying pressure in banking, financials and pharma stocks. Extending gains for the second consecutive session, Sensex ended 622 points higher at 30,818 and Nifty ended 187 points higher at 9,066.