Share Market Update: Sensex ends 233 points higher, Nifty at 9,580; Wipro, BPCL, ONGC, Indian Oil top gainers
by BusinessToday.InStock Market LIVE Updates: Axis Bank, followed by IndusInd Bank, Bajaj Finance, Tata Steel, Infosys, HDFC twins and ICICI Bank were among the top losers. On the contrary, Bajaj Auto, ITC, Sun Pharma, Asian Paints and L&T were among the top gainers on Sensex pack.
Sensex, Nifty Updates: Sensex and Nifty reversed trend and closed higher by the last hour of trade on Friday, amid heavy buying in realty, pharma and FMCG stocks. This was in contrast to the weak global trend, as sentiments were catious on account of geo-political tensions between US-China. Sensex closed 233 points higher at 32,424 and Nifty ended 90 points higher at 9,580. Experts said market sentiments turned cautious amid mixed signals on hopes on a possible vaccine, and a fresh threat of US-China tariff escalation on the virus backdrop. Yesterday, Sensex ended 595 points higher at 32,200 and Nifty rose 175 points to 9,490. Companies set to announce their earnings are Equitas, Voltas, Everest Industries, Jubilant Life Sciences, Lemon Tree, Metropolis among others.
Here's a look at the updates of the market action on BSE and NSE today
3.45 PM: Closing bell
Sensex and Nifty reversed trend and closed higher by the last hour of trade on Friday, amid heavy buying in realty, pharma and FMCG stocks. Sensex closed 233 points higher at 32,424 and Nifty ended 90 points higher at 9,580.
3.28 PM: Market rises further
Sensex and Nifty reversed trend and traded higher by the last hour of trade on Friday. This was contrary to the global trend, as sentiments were catious on account of geo-political tensions between US-China. Sensex rose 208 points higher at 32,409 and Nifty climbed 95 points higher at 9,585.
3.18 PM: Bharti Infratel gains over 8% today
Share price of Bharti Infratel was trading among the top gainers on NSE in early Friday's trade, rising 8.38% intraday.
With an intraday volatility of 2730.81%, the stock registered heavy volumes today, with 7.3 lakh and 23.3 lakh shares changing hands on the BSE and NSE counters, both above the 5,10 and 30-day average volume traded.
2.59 PM: Vodafone share price falls from high
Vodafone Idea share price fell from 20% hike to 16% intraday rise after the telecom major clarified that currently, there is no proposal in relation to Google eyeing stake in company being considered by board.
2.48 PM: Markets turn green
Sensex and Nifty turned volatile by the afternoon session and turned marginally green by the last hour of trade on Friday. This was on back of with weak global sentiments, on account of geo-political tensions between US-China. Sensex rose 125 points higher at 32,327 and Nifty climbed 50 points higher at 9,452.
2.30 PM: Rupee ends higher
Rupee the local currency benchamrk, closed at 75.62 per dollar as against the last closing vlaue of 75.75 per dolla
2.15 PM: Majesco share price rises 5% post results
Majesco share price touched an intraday high of Rs 313.55, rising 4.99% on BSE after reporting Q4 earnings.
The company reported 175% growth in its net profuit at Rs 23 crore during the quarter ended March 31, 2020, as against profit of Rs 8.5 crore, recorded in a year-ago period. Company's total income gained 5.8% (YoY) to Rs 276 crore in the January-March quarter of the current fiscal as compared to Rs 261 crore in a year-ago period.
2.07 PM: Bharti Airtel share price gains from lows
Bharti Airtel share price that fell over 2%, gained nearly 2% later after Vodafone Idea clarified that currently, there is no proposal in relation to Google eyeing stake in company being considered by board
1.48 PM: TVS Motors share price gains over 3% post result
TVS Motors share price erased early losses and rose 3.26% to the intraday high of Rs 343.8 after the company reported its March quarterly result.
The company reported a 43% fall in profit before tax at Rs 81.85 crore during the quarter ended March 31, compared to the same period last year. Company's revenue was down 20.5% (YoY) at Rs 3,418 crore in the January-March quarter of the current fiscal.
Federal Bank: The company reported a 22% fall in profit before tax at Rs 301 crore during the quarter ended March 31, 2020, as against Rs 381 during the same period last year. Company's NII gained 10% (YoY) at Rs 1,216 crore in the January-March quarter of the current fiscal as compared to Rs 1,095 crore in a year-ago period.
1. 39 PM: Radico Khaitan share price gains almost 3%
Radico Khaitan share price rose almost 4% to the day's high of Rs 331 on BSE after the company posted its MArch quarterly result.
The company reported a 1.8% fall in profit at Rs 38 crore during the quarter ended March 31, 2020, as against Rs 39 crore, recorded in a year-ago period. Company's total income rose 15% (YoY) to Rs 585 crore in the January-March quarter of the current fiscal as compared to Rs 510 crore in a year-ago period.
1. 26 PM: Heidelberg Cement share price rise over 6% post result
Heidelberg Cement share price opened with a gain of 3.36% today and later jumped 6.03% to the intraday high of Rs 167.15 on BSE after the company reported its Q4 earnings.
The company reported a 9% gain in its net profit of Rs 66.3 crore during the quarter ended March 31, 2020, as against profit of Rs 61 crore, recorded in a year-ago period.
Company's total income fell 6.2% (YoY) to Rs 510 crore in the January-March quarter of the current fiscal as compared to Rs 543 crore in a year-ago period.
1. 15 PM: Expert outlook on Google-Vodafone Deal
Expressing views over the Google-Vodafone Deal, Aamar Deo Singh, Head Advisory, Angel Broking said, "Amidst reports of Google picking up 5% stake in Vodafone Idea, it appears that the Indian telecom and online space, is set to witness a spur of activity, which is always welcome. It would offer consumers a better deal and competition in this space is definitely required as the digital space has gained massive importance post COVID-19 and is set to witness multifold growth in coming years."
1.07 PM: Rain Industries share price gains over 12%
Rain Industries share price opened with a gain of 8.99% today and later gained 16.75% to the intraday high of Rs 81.2, after reporting March quarter numbers.
The company reported a 55% rise in profit at Rs 106.5 crore during the quarter ended March 31, 2020, as against Rs 68.81 crore, recorded in a year-ago period.
Company's total income fell 9.3% (YoY) to Rs 2,897.6 crore in the January-March quarter of the current fiscal as compared to Rs 3,196.5 crore in a year-ago period.
12.44 PM: CEAT share price gains over 6% post results
CEAT share price opened with a gain of 3.62% today and later climbed 6.34% to an intraday high of Rs 820 on BSE, after company reporting quarterly rsults.
The company reported a 19% fall in profit at Rs 51.88 crore during the quarter ended March 31, 2020, as against Rs 64.25 crore, recorded in a year-ago period.
Company's total income fell 10% (YoY) to Rs 1,573 crore in the January-March quarter of the current fiscal as compared to Rs 1,760 crore in a year-ago period.
12.30 PM: Cadila share price gains over 4%
Cadila share price gained 4.24% to the intraday high of Rs 352.4 on BSE, after the company said its health's formulations manufacturing unit at Baddi has received Establishment Inspection Report from the USFDA.
12.22 PM: Earnings today
Andhra Paper, Dilip Buildcon, Equitas, Everest Industries, Jubilant Life Sciences, KEC International, RCF, Lemon Tree, Metropolis, NCC, Symphony, V-Mart Retail, Voltas, Shipping Corporation of India among others will announce their Q3 results today.
12.10 PM: Market update
Sensex and Nifty traded lower on Friday, in line with weak global cues, on account of geo-political tensions between US-China. Reversing from two days of straight gains, Sensex dropped 112 points lower at 32,087 and Nifty fell 10 points higher at 9,480.
11.50 AM: Wipro share price gains today
Shares of Wipro were trading 1.3% higher at the day's high of Rs 202 on the BSE today, after the IT firm announced that it has appointed Thierry Delaporte as the Chief Executive Officer and Managing Director of the company, effective July 6, 2020.
Wipro share price gains nearly 6% after IT firm gets new CEO and MD
Capgemini's top executive Thierry Delaporte is new Wipro CEO
11.34 AM: Market update
Sensex and Nifty marginally lower by the first hour of trade on Friday, in line with weak global cues, on account of geo-political tensions between US-China. Reversing from two days of straight gains, Sensex dropped 35 points lower at 32,167 and Nifty climbed 20 points higher at 9,505.
11. 25 AM: Oil trades lower today
Brent crude futures, the global oil benchmark, traded 0.60% lower at USD 35.08 per barrel.
11.18 AM: Rupee rises today
Indian rupee, the currency benchmark, opened at 75.71 at the interbank forex market and later gained to 75.65, up 11 paise over its last close of 75.76 against the US dollar.
11.00 AM: Indices crash since coronavirus disease
Sensex and Nifty have turned volatile with investors struggling to keep their portfolios afloat, dented by rising number of coronavirus cases across the world which hit sentiments in domestic market.
Sensex and Nifty crashed after the number of infected cases from coronavirus zoomed to 415 in the country.
Since then, the indices have attempted recovery but have been hit by high volatility. Sensex gained 7,736 points or 29.77% to 33,717 on April 30, 2020.
Sensex, Nifty stuck in coronavirus storm; should investors expect profit in 2020?
10.43 AM: Vodafone Idea share price gains 20%
Share price of Vodafone Idea gained 20% to Rs 6.98 compared to the previous close of Rs 5.82 on BSE, following reports that technology giant Google was planning to acquire 5 per cent stake in the debt-laden firm, a telecom joint venture between Vodafone PLC of UK and Aditya Birla group.
Vodafone Idea share price rises 20% on report Google eyeing stake in telco
10.30 AM: Weak global cues
Asian stocks opened lower on Friday, in line with US equities that gave up early gains on fresh US-China tensions. US President Trump said he'd hold a press conference to discuss China, potentially stoking tensions between the world's two largest economies.
US Futures (Dow Jones) traded at 25361, down 96 points or 0.38%. Meanwhile, SGX Nifty trades down 22 points at 9,403.75.
10.22 AM: Market erases early losses
Amid weak cues from global markets, market indices fell sharply, although erased early losses. Sensex dropped 145 points lower at 32,056 and Nifty fell 20 points to 9,471.
10.09 AM: Coronavirus toll
The total number of infected cases from coronavirus in India has crossed 1.65 lakh, including 4,706 fatalities.
Globally, there are 58.10 lakh Covid-19 cases, including 3.60 lakh deaths.
10.00 AM: Top losers and gainers
Axis Bank, followed by IndusInd Bank, Bajaj Finance, Tata Steel, Infosys, HDFC twins and ICICI Bank were among the top losers.
On the contrary, Bajaj Auto, ITC, Sun Pharma, Asian Paints and L&T were among the top gainers on Sensex pack.
9.42 AM: Market Update
Domestic sentiments also turned cautious ahead of gross domestic product (GDP) numbers, scheduled to release later in the day. Rising COVID-19 cases as India with the highest spike recorded each consecutive day further kept sentiments weak in domestic grounds.
India Q4 GDP data to be out today: Brokerages expect growth to reflect COVID-19 pain
9. 30 AM: Stocks to watch today on May 29
Everest Industries, Jubilant Life Sciences, TVS Motors, Heidelberg, CEAT among others are the top stocks to watch out for in Friday's trading session
9. 23 AM: Opening bell
Sensex and Nifty opened on a negative note on Friday, in line with weak global cues, on account of geo-political tension between US-China.
9.11 AM: Earnings today
Companies set to announce their earnings are Equitas, Everest Industries, Jubilant Life Sciences, Lemon Tree, Metropolis among others
9.00 AM: GDP Data to be out today
Gross domestic product data out later on Friday is expected to show the country's economy grew at its slowest pace in at least two years in the March quarter as the coronavirus pandemic weakened already declining consumer demand and private investment.
Coronavirus fallout: Economy may have grown at slowest pace in last 2 years during March quarter
8. 55 AM: FII/ DII action
On a net basis, FIIs bought Rs 2,354.14 crore while the DIIs also bought Rs 144.83 in equities on Thursday
8. 45 AM: Rupee Closing
On the currency front, the rupee ended on a weaker note at 75.75 per dollar as compared to last closing of 75.72 per dollar.
8.30AM: Closing bell
Benchmark Sensex and Nifty closed higher on Thursday, the F&O expiry day, on back of positive global trend amid heavy buying in banking and financial stocks. Extending gains for the second straight session, Sensex ended 595 points higher at 32,200 and Nifty rose 175 points to 9,490.
Sensex reclaims 32K, Nifty closes at 9,490 as banking stocks extend gains