Print   Close

Share Market Update: Sensex ends 290 points higher, Nifty at 10,116; Axis Bank, Kotak Bank top gainers

BusinessToday.In     June 10, 2020

Sensex, Nifty Updates: Equity market indices Sensex and Nifty closed bullish on Wednesday, backed by global markets amid heavy rally in banking stocks. SGX Nifty also traded 70 higher at 10,288, indicating a positive trend at the domestic grounds. Sensex ended 290 points higher at 34,247 and Nifty rose 69 points higher at 10,116. Yesterday, Sensex lost 413 points to 33,956 and Nifty fell 120 points to 10,046. Companies set to announce their earnings are Mahanagar Gas, Voltamp Transformers, Shriram Transport Finance, Jindal Stainless (Hisar), Dhanuka Agritech, Century Textiles & Industries and Bansal Roofing Products among others.

Here's a look at the updates of the market action on BSE and NSE today

3.56 PM: Closing

Equity market indices Sensex and Nifty climbed higher on Wednesday's afternoon session, backed by global marketsa mis heavy rally in banking stocks. SGX Nifty also traded 70 higher at 10,288, indicating a positive trend at the domestic grounds. Sensex ended 290 points higher at 34,247 and Nifty rose 69 points higher at 10,116.

3.40 PM: TeamLease Services share price falls over 6% post results

TeamLease Services stock touched an intraday low of Rs 1670, falling 6.7% on BSE, after the compay reported March quarter results.

The company reported a loss at Rs 29 crore during the quarter ended March 31, 2020, as against profit of Rs 26 crore, recorded in a year-ago period. Company's total income rose 15% (YoY) to Rs 1,345 crore in the January-March quarter of the current fiscal as compared to Rs 1,168 crore in a year-ago period.

3.20 PM: Maruti shares rise 1.2%

Maruti Suzuki share price gained 1.2% intraday to Rs 5,738 on BSE despite the company reporting a slump of 97.5% in production at 3,714 units in May 2020. The car maker had produced 1,51,188 units during the same month last year, the company informed in a regulatory filing.

3.00 PM: Market Update

Sensex climbed 362 points higher at 34,247 and Nifty rose 91 points higher at 10,137.

2.50 PM: Gold price flat today

Gold price moved up as expected as equities retreated and investors remained cautious ahead of the FOMC rate decision later today.

2.40 PM: eClerx Services shares declined over 5% post results

eClerx Services share price touched an intraday low of Rs 404.4, falling 5.85% on BSE, after the compay reported March quarter results.

The company reported a drop of 20% for net profit at Rs 55.39 crore during the quarter ended March 31, 2020, as against profit of Rs 69.88 crore, recorded in a year-ago period. Company's total income fell 5% (YoY) to Rs 367 crore in the January-March quarter of the current fiscal as compared to Rs 387 crore in a year-ago period.

2.20 PM: Gujarat Pipavav share price gains over 9% post result

Gujarat Pipavav share price touched an intraday high of Rs 72. rising 9.01% on BSE, after the company reported its March quarterly results.

The company reported a 5.95% fall in profit at Rs 47.89 crore during the quarter ended March 31, 2020, as against Rs 50.92 crore, recorded in a year-ago period. Company's total income fell 9% (YoY) to Rs 173.21 crore in the January-March quarter of the current fiscal as compared to Rs 191.23 crore in a year-ago period.

2.00 PM: Cipla share price gains almost 2%

Share price of pharma firm Cipla rose almost 2% in Wednesday's trade after the firm announced that it would buy 21.85% stake in GoApptiv on a fully diluted basis in all-cash consideration for Rs 9 crore.

Through an equity investment, representing 21.85 per cent stake in GoApptiv, the drug firm will strengthen its partnership with the firm so as to enable the widening reach of its key brands in the tier-3 plus towns, Cipla said.

Following the latest deal, Cipla share price rose 1.65% intraday to the day's high of Rs 650.50 compared to its earlier close of Rs 639.90 on BSE. The stock has gained 2.19% in the last 2 sessions.

Cipla share price climbs 2% as firm plans to buy stake in GoApptiv

1.30 PM: Goldman says 'too much, too fast' commodity rally unsustainable

The rally across commodities has gotten ahead of fundamentals with the exception of metals, Goldman Sachs (GS.N) said in a note dated Tuesday

"Without a shift in balances, any rally in physical commodity markets is unsustainable," Goldman said, adding the climb was "too much, too fast in oil, but not metals." The metals markets are tight and "extremely strong" Chinese demand from construction and infrastructure sectors in May has exceeded even the most optimistic projections, analysts at the bank said.

"Combined with COVID-19-related supply disruptions and a lack of scrap availability due to the lockdown, metals markets are left with relatively little inventory." The lender is forecasting 3-month returns of 0.8% for industrial metals, -9.5% for energy complex, -8.6% for precious metals and -7.4% for agriculture.

Goldman says 'too much, too fast' commodity rally unsustainable

1.24 PM: Oil prices today

Oil price remained steady as data showed rise in crude inventories in US sparking concerns about oversupply and weak demand. Brent crude futures, the global oil benchmark, were trading 1.41% at USD 40.60 per barrel.

1.18 PM: Rupee climbs higher

Indian rupee, the local currency appreciated 12 paise to 75.49 against the US dollar on Wednesday's early trade, tracking gains in Asian currencies amid sustained foreign fund inflows.

The domestic unit opened strong at 75.49 against the US dollar, up 12 paise over its previous close of 75.61 against the greenback on Tuesday.

Rupee vs dollar: Rupee gains 12 paise to 75.49 amid foreign fund inflows, weak dollar

1.00 PM: JM Financial share price rises over 7%

JM Financial stock rose in early trade today after the firm launched a qualified institutional placement of its shares. JM Financial share price rose up to 7.33% to Rs 76.1 against previous close of Rs 70.90 on BSE. The stock opened with a gain of 2.96% at Rs 73 today.  Total 1.60 lakh shares changed hands amounting to turnover of Rs 1.19 crore.

JM Financial share price rises over 7% on launch of QIP

12.40 PM: Coronavirus toll

Worldwide, the number of cases linked to the disease has crossed 72.44 lakh and the death toll has topped 4.11 lakh.

In India, the COVID-19 death toll rose to 7,745 and the number of infections rose to 2,76,583.

Coronavirus crisis: India sees 9,985 new COVID-19 cases, 279 deaths in 24 hours; tally surges to 2.76 lakh

12.14 PM: YES Bank share price gains 2.8%

YES Bank share price was trading 2.85% higher in Wednesday's session after the lender informed exchanges Madhu Kapur, and her family have withdrawn a case filed against the lender in 2013.

The suit was withdrawn following the reclassification of the family's holding and the Bombay High Court allowed the withdrawal, the bank said.

Following the update, YES Bank share price gained 2.85% to the intraday high of Rs 30.75 on BSE compared to its earlier close of Rs 29.90. Market capitalisation of YES Bank currently stands at Rs 37,965.18 crore.

YES Bank share price gains 3% after Kapur family withdraws suit against lender

12.00 PM: Earnings today

Mahanagar Gas, Voltamp Transformers, Shriram Transport Finance, Shankara Building Products, Kartik Investments Trust, Jindal Stainless (Hisar), Jamna Auto Industries, Indian Hotels, HSIL, GRP, Dhanuka Agritech, Century Textiles & Industries and Bansal Roofing Products among others will report their Q4 results today.

11.02 AM: Global cues

Asian markets are trading mostly higher barring China as Chinese inflation data for May fell 3.7% which was higher than analyst expectation of 3.3%.

All the markets were rising barring China as Shanghai index was trading lower today after the country's PPI fell 3.7% and CPI rose 2.4% from 2019 as global coronavirus lockdowns continued to devastate demand while a deeper fall in imports pointed to mounting pressure on the country's key manufacturing sector

Wall Street closed marginally higher, erasing gains made in the last week, as investors awaited cues from the outcome of the Fed Reserve 2day meet, scheduled to be over by today. Traders said, investors seem to be giving importance to tensions with China and uncertainty over fresh stimulus in US.

European markets closed lower as investors weighed the  possibility of economic recovery.

10.40 AM: Stocks to watch today on June 10

Bharti Airtel, JM Financial, Maruti Suzuki, Adani Green Energy, OIL, BHEL, Hero MotoCorp among others are the top stocks to watch out for in Wednesday's trading session

Stocks in news: Bharti Airtel, JM Financial, Maruti Suzuki, Adani Green Energy, OIL, BHEL, Hero MotoCorp and more

10.30 AM: Market Update

Sensex climbed 235 points higher at 34,192 and Nifty rose 60 points higher at 10,107.

10. 27 AM: Market outlook

Expressing views on the market correction worldwide and in domestic trend, Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking said," The U.S. futures and the European markets corrected sharply and our markets too followed the global cues for the rest of the session which resulted in a sharp correction. In last couple of sessions, Nifty has resisted around the 200 SMA on the weekly charts.

He added," The immediate support for Nifty are placed around 9985 followed by 9900. Traders are advised to focus on stock specific moves and look for buying opportunities on dips near the mentioned support. The intraday resistance for the index are seen around 10220 and 10350."

10.13 AM: Godrej Consumer share price drops over 3.5%

Godrej Consumer Products share price fell 3.5% to the intraday low of Rs 636.50 on BSE today. Company announced that Nisaba Godrej has been appointed as Managing Director for a period till September 30, 2022. Vivek Gambhir, GCPL's current Managing Director and CEO, has resigned for personal reasons and will step down as Managing Director and CEO on June 30, 2020.

9.50 AM: Adani Green Energy share price

Adani Green Energy share price locked at 5% upper circuit in today's trade to climb to the intraday high of Rs 328.35 on BSE, after the company said it bagged said it won a manufacturing-linked solar contract worth Rs 45,000 crore from SECI to develop 8 GW electricity generation capacity and 2 GW equipment manufacturing facility in the country.

Adani Green Energy share price hits all-time high after firm wins world's largest solar contract

9. 30 AM: Hero MotoCorp top loser on NSE

Hero MotoCorp share price was trading as the top loser on NSE today, as the company reported its March quarterly results yesterday. The company reported a 21% fall in profit at Rs 604 crore during the quarter ended March 31, 2020, as against Rs 771 crore, recorded in a year-ago period. Company's total income fell 20% (YoY) to Rs 6,490 crore in the January-March quarter of the current fiscal as compared to Rs 8,120 crore in a year-ago period. The company board has approved a final dividend of Rs 25 for FY20.

Hero MotoCorp share price falls 2% on weak Q4 earnings

9. 20 AM: Opening bell

Equity market indices Sensex and Nifty opened higher on Wednesday's trading session, backed by positive Asian and US markets. Sensex climbed 72 points higher at 34,029 and Nifty rose 25 points higher at 10,072.

9.10 AM: Pre-open session

Sensex climbed 72 points higher at 34,029 and Nifty rose 25 points higher at 10,072. SGX Nifty also traded 70 higher at 10,288, indicating a positive trend at the domestic grounds.

8.50 AM: Earnings today

Companies set to announce their earnings are Mahanagar Gas, Voltamp Transformers, Shriram Transport Finance, Jindal Stainless (Hisar), Dhanuka Agritech, Century Textiles & Industries and Bansal Roofing Products among others.

8.40 AM: FII/ DII action

On a net basis, FIIs bought Rs 490.81 crore while DIIs sold Rs 733.33 crore in equities today

8.30 AM: Closing on Tuesday

On Tuesday, Sensex lost 413 points to 33.956 and Nifty fell 120 points to 10,046


URL for this article :
https://www.businesstoday.in/markets/market-perspective/share-market-live-sensex-nifty-dalal-street-stock-outlook-bse-nse-news-june-10/story/406460.html
 
@ Copyright 2019 India Today Group.