Share Market LIVE Updates: Reversing trend after two days of fall, benchmark indices Sensex and Nifty traded 1% higher on Tuesday, tracking strong cues from global equities, led by gains recorded in almost all sectors, amid Delhi Election Result Day. BSE 30-share S&P Sensex traded 400 points higher at 41,387 and NSE 50-share index Nifty50 traded 125 points higher at 12,157. All sectors traded in the green today, with metal and PSU banking indices being top gainers. Investors are also awaiting December quarter earnings today. In global cues, overseas markets traded in green after two days of fall. Companies which will announce their Q3 earnings are Siemens, Coal India, TVS Srichakra, GIC Housing, IDBI Bank, Crisil, GNFC and RCF. Investors are also tracking results of counting for votes from State Assembly Elections 2020 in the national capital. As per latest update from Delhi Assembly Election Results 2020, Aam Aadmi Party (AAP) is leading on 50 seats, while BJP is seen winning on 20 seats. The Congress party is yet to open its account. Prominent candidates including Arvind Kejriwal, Manish Sisodia and Atishi have secured early leads over their rival candidates.
Here's a look at the live updates of the market action on BSE and NSE today:
Also See: Delhi Election Results Live blog on counting of votes for Delhi elections as well as its results, with a detailed analysis of early trends and political opinions.
Adani Transimisiion rises over 2%
12: 08 PM
Adani Transmission Limited (ATL) today announced that Qatar Investment Authority (QIA) has completed acquisition of 25.10% stake in Adani Electricity Mumbai Limited (AEML) from ATL along with an investment in shareholder subordinated debt in AEML on 10 February, 2020.
The total QIA investment in AEML is approximately Rs 3,220 crore, which includes equity consideration of approximately Rs 1,210 crore and shareholder subordinated debt of Rs 2,010 crore.
Following the announcement, Adani Transmission shares opened with a gain of 2.44% today and later touched an intraday high of Rs 339.95, rising 2.44% on BSE as agiainst the last closing price of Rs 331.85.
Petronet LNG falls over 3% on poor Q3 figures
12:05 PM
Petronet LNG reported Rs 679.2 crore consolidated net profit for the Q3 FY20, 15.8% higher than Rs 586.73 crore net profit reported in Q3 FY19. Compnay's consolidated total revenue for the period declined 11.7% lower to Rs 8,994.4 crore in the quarter ended December 2019, as against Rs 10,186.2 crore reported in the comparable quarter in the previous financial year.
Following the Q3 result announcement, shares of Petronet LNG touched an intraday low of Rs 261.5, declining 3.45% on BSE, as against its previous close of Rs 270.85.
Oil India Q3 FY20 PAT halves to Rs 709 cr, shares decline over 3%
12:00 PM
Oil India has reported its consolidated net profit for the third quarter at Rs 709.4 crore, which is half the net profit of Rs 1423 crore reported by the company a year ago.
Company's consolidated total income during the period witnessed 16% YoY decline to Rs 2957 crore. Other income also declined sharply by 72% YoY during the quarter.
Following the Q3 result announcement, shares of Oil India touched an intraday low of Rs 129.35, declining 3.43% on BSE, as against its previous close of Rs 133.95.
Oil India Board has also declared Rs 9 per share as interim dividend.
Delhi Elections counting
11: 55 AM
Arvind Kejriwal-led Aam Aadmi Party (AAP) is likely to retain power in the national capital for the third consecutive term. Aam Aadmi Party has extended its lead to 52 seats, while BJP India is currently leading with 18 seats after two hours of counting.
Also read: New Delhi Election Results: Arvind Kejriwal leads in early trends as AAP eyes third term
MRF falls 2% on poor result
11: 50 AM
Tyre major MRF Ltd.'s consolidated net profit from continuing operations for the third quarter ended December 2019 dipped 17.18% y/y to Rs 240 crore on economic slowdown. Company's net profit in the second quarter of the current fiscal stood at Rs 230 crore. During the period under review, total income y/y dipped 1.68% to Rs 4,150 crore. Compared with the second quarter of FY20, total income had risen by Rs 46 crore. Following the result update, MRF stock on Tuesday touched an intraday low of Rs 71700.45, declining 2.27% on BSE. Although, before falling the stock rose 0.18% to the intraday high as well as its fresh 52-week and all-time high of Rs 73500 on BSE.
Relaince Securities on GAIL Q3: recommenda buy with TP of Rs 154
11: 40 AM
Reliance Securities in its report said that company's new fertiliser plants and CGD's lined up on Urja Ganga pipeline would be the major growth driver of its gas transmission and trading segment. It added that the quarter under review quarter is marked with record volume, improved realisation and one of the lowest operating cost in gas and LPG transmission segment.
Company's EBITDA grew by 33% QoQ (down 23% YoY) to Rs 20.7bn in 3QFY20, beating consensus their estimate by 11%/20%, mainly due to strong performance across segments. We expect GAIL's earnings to clock just 10% CAGR over the next 3 years, the report added.
Commenting on the stocks' trend, Relaince Securties siad," The stock provides high earnings visibility and healthy RoE/RoCE of 12%/13% over the next 3 years. At CMP, the GAIL stock trades at 6.1x of FY21E EBITDA, which is at discount to its long-term average of 7.4x (over the last 5 years)."
We maintain our BUY recommendation on the stock with a DCF based target price of Rs 154, the brokerage house said.
Market Update
11: 00 AM
Tata Steel, Axis Bank, UltraTech Cement, SBI, IndusInd Bank, ITC and ICICI Bank were among the top gainers in the Sensex pack. On the other hand, TCS was the only stock trading in the red.
According to traders, domestic stocks followed global equities, which rallied despite despite concerns over coronavirus impact on world economy. Domestic market participants are also tracking Delhi poll results, traders said.
GAIL shares surge 4% higher on back of upbeat Q3 FY 20 earnings
10: 50 AM
GAIL recorded 12.9% (YoY) rise in consolidated profit at Rs 2,029.51 crore in Q3 of FY20 against Rs 1,797.04 crore in Q2, primarily due to better margins in gas marketing and liquid hydrocarbons (LHC). Company's Consolidated revenue, however, declined 11.5% to Rs 17,898.16 crore during the quarter.
Following the earnings updates, shares of GAIL touched an intraday high of Rs 126.85 on BSE, rising 4.15% against the previous close of Rs 121.80.
The company board has also declared an interim dividend of 64 per cent for the financial year FY20 at Rs 6.40 per equity share, amounting to Rs 2,886.49 crore.
Rupee trades higher at 71.20 per US dollar
10: 40 AM
The rupee appreciated by 10 paise to 71.20 against the US dollar in opening trade on Tuesday, driven by positive opening in domestic equities.
The rupee opened strong at 71.23 at the interbank forex market then gained further ground to touch 71.20 per dollar, displaying gains of 10 paise against the greenback.
On Monday, the rupee had settled at 71.30 against the US dollar.
International equity and commodity cues
10: 30 AM
US stock markets settled higher by over 1%, European equity markets settled on flat to negative note, Asian markets are trading higher and while SGX Nifty is up 58 points.
News of rapidly spreading coronavirus seems to be resurfacing impacting crude oil demand and dragging oil prices lower and keeping the market concerned.
Gold prices closed higher ahead of testimony from Fed Chairman Jerome Powell, which should include how the central bank plans to shield the US economy from China's widening coronavirus crisis. As per market experts, currently price of gold looks stable, although silver has room to move up.
FII/ DII action on Monday
10: 25 AM
On a net basis, foreign institutional investors sold equities worth Rs 184 crore, while domestic institutional investors offloaded shares worth Rs 735 crore on Monday, data available with stock exchanges showed.
US President Donald Trump to visit India later this month, says White House
10: 25 AM
The White House announced on Tuesday, that President Donald Trump will be travelling to India later this month on a two-day visit. This would be his first trip to the country as the president of the United States.
During a phone call over the weekend, Trump and Prime Minister Narendra Modi agreed the trip would further strengthen the India-US strategic partnership and highlight the strong and enduring bonds between the American and Indian people, she said.
Market Update
10: 20 AM
Sensex and Nifty traded strongly bullish, up 1% each on Tuesday, tracking following strong cues from global equities amid Delhi Election Result Day. BSE 30-share S&P Sensex traded 400 points higher at 41,390 and NSE 50-share index Nifty50 traded 121 points higher at 12,150. All sectors traded in the green today, with metal and PSU banking index gaining the most.
Market Update: Expert opinion: HDFC Securities report
The markets remain globally susceptible to supply chain hiccups from China. Companies across the world have warned of the shortage of raw materials in the days to come if China does not resume normal production in a fortnight.
In domestic cues, the counting for the Delhi assembly seats have begun at 8 am today. Considering that first the opinion polls and then the exit polls had predicted an AAP sweep, the outcome on these lines is already priced in.
Also read: Delhi Election Results 2020: Watch live streaming on Aaj Tak, India Today
Oil rises over 1%
10: 06 AM
Oil prices rose more than 1% on Tuesday on investors booking profit from the recent sharp falls. Brent crude rose 79 cents, or nearly 1.5 percent, to $54.06 a barrel, while US West Texas Intermediate was up 63 cents, or about 1.3 percent, to $50.20. Earlier on Monday, oil prices fell to their lowest level since January 2019 on weaker Chinese demand in the wake of the coronavirus outbreak.
Bajaj Consumer Care declines 9% post Q3 earnings
10: 00 AM
Shares of Bajaj Consumer Care fell 9% on Tuesday's early trade after the company reported a 17.83% fall in its consolidated net profit to Rs 48.74 crore for the third quarter ended December 2019, as against Rs 59.32 crore during the October-December quarter a year ago.
Following the result update, shares of Bajaj Consumer Care opened with a loss of 2.91% today and later touched an intraday low of Rs 201.40, declining 9% on BSE, as against its previous close of Rs 221.40. Shares of Bajaj Consumer Care Ltd on Monday closed 0.41% higher at Rs 221.40 apiece on the BSE.
Delhi Election Trends
9: 40 AM
As per the figures from Delhi Assembly Election Results 2020, Aam Aadmi Party (AAP) has secured the lead on 54 seats, while the BJP is leading on 15 seats. The Congress party, however, is ahead on just one seat. Prominent candidates including Arvind Kejriwal, Manish Sisodia and Atishi have secured early leads over their rival candidates.
Global Market Update
9: 34 AM
Domestic markets open in the green tracking positive global cues. Asian share markets followed Wall Street higher on Tuesday with most stocks trading positive. Yesterday, Dow jumped 170 points with Amazon socks lead S&P 500 and Nasdaq to record highs. Singapore's SGX Nifty traded up 63 points at 12,105. US Futures (Dow Jones) traded at 29325, up 80 points or 0.27%.
Coronavirus death toll in China crosses 1,000
9: 30 AM
The death toll in China due to the novel coronavirus epidemic has crossed 1,000, while the confirmed cases have gone over 42,000, health officials announced on Tuesday.
Q3 Earnings Today
9: 28 AM
Aster DM Healthcare, Arvind Fashions, Cochin Shipyard, Siemens, Syndicate Bank, Solar Industries India, Tata Investment Corporation, IDBI Bank, Crisil, Astral Poly Technik, BEML, BASF India , Coal India, Greenply Industries, Gulf Oil Lubricants India, HEG, GIC Housing Finance, Gujarat Narmada Valley Fertilizers & Chemicals, Godawari Power & Ispat, Ircon International, Rashtriya Chemicals And Fertilizers, Shemaroo Entertainment, TVS Srichakra, V.S.T.Tillers Tractors, Welspun Investments And Commercials among others will release their Q3 earnings today.
Greater Kailash election results: AAP's Saurabh Bharadwaj leads in early trends
Delhi Election Prediction
9: 25 AM
As per India Today-Axis My India exit poll prediction, the incumbent Aam Aadmi Party (AAP) is likely to get 56 per cent vote share in the Delhi Assembly polls. Meanwhile, the Bharatiya Janata Party (BJP) is predicted to receive 35 per cent vote share and the Congress is likely to lag behind at 5 per cent.
As per the Election Commission of India (ECI), 62.59 per cent voter turnout was recorded in the state's assembly elections. Earlier in 2015, the final voter turnout in the Delhi came to 67.47 per cent. The highest turnout (71.6 per cent) was recorded in Ballimaran constituency while the lowest with 45.4 per cent was the Delhi Cantonment constituency.
Also See: Business Today live blog on counting of votes for Delhi elections as well as its results, with a detailed analysis of early trends and political opinions.
Also Read: Delhi Election Results 2020: Date, vote counting time, FAQs, exit poll results
Opening Bell
9: 15 AM
Reversing trend after two days of fall, market indices Sensex and Nifty opened strongly bullish, up 0.70% each on Tuesday, tracking following strong cues from global equities amid Delhi Election Result Day. BSE 30-share S&P Sensex traded 300 points higher at 41,300 and NSE 50-share index Nifty50 traded 100 points higher at 12,142. All sectors traded in the green today, with metal and PSU banking index gaining the most. Investors are also awaiting on December quarter earnings today.