Sensex, Nifty Updates: Benchmarks Sensex and Nifty climbed nearly 3% higher on Thursday, led by gains in financial, IT and FMCG stocks tracking trend from strong global cues on hopes of the COVID-19 pandemic approaching its peak. The 30-share BSE Sensex rose 905 points to 30,798 and 50-share barometer NSE Nifty traded 265 points higher at 8,973. Today is also weekly nifty and bank nifty expiry day. Globally indices turned green as investors turned optimistic over prospects of more government stimulus and tightened lockdowns across the world to combat the virus spread. On Wednesday BSE 30-share index Sensex ended 173 points lower to 29,893 and 50-share barometer NSE Nifty closed 43 points lower at 8,748.
There 15.18 lakh confirmed cases worldwide and almost 0.88 lakh deaths from the coronavirus COVID-19 outbreak. Several countries have closed their borders and urged citizens to stay back home as a part of coronavirus measures. As of Thursday, the number of infected cases in India has increased to 5,916, with 506 recovered cases. The death toll from coronavirus in India has risen to 178. Wednesday recorded the biggest single day jump in both the number of coronavirus cases and deaths so far. India reported 773 new cases and reported 32 deaths in 24 hours period on Wednesday.
Here's a look at the updates of the market action on BSE and NSE today:
Market update
10: 40 AM
Market opened at day's high on Thursday led by gains in financial, IT and FMCG stocks following rise global equities on hopes of the COVID-19 pandemic approaching its peak.
According to experts, hopes of another financial stimulus hope before the end of the lockdown period buoyed investor sentiment in early session. Further, slowing pace of fresh COVID-19 cases has also lent some momentum to global markets, they said.
Traders said investor sentiments although remain fragile amid concerns over the impact of coronavirus outbreak on the domestic as well as global economy.
Gainers/losers
10: 30 AM
HDFC was the top gainer in the Sensex pack, surging up to 5 per cent, followed by Maruti, Bharti Airtel, Bajaj Finance, Tata Steel, Hero MotoCorp and ICICI Bank.
On the other hand, HUL was the sole laggard.
Market Update
10: 20 AM
Benchmarks Sensex and Nifty climbed nearly 3% higher on Thursday, led by gains in financial, IT and FMCG stocks tracking trend from strong global cues on hopes of the COVID-19 pandemic approaching its peak. The 30-share BSE Sensex rose 905 points to 30,798 and 50-share barometer NSE Nifty traded 265 points higher at 8,973.
Rupee opens higher at 76.10
10: 15 AM
Rupee opened slightly higher at 76.10 per dollar on Thursday against yesterday's close of 76.37 against the US currency.
Global cues
9: 50 AM
Globally market turned positive, tracking Wall Street's gains after the US President tweets that New York is starting to flatten its curve of number of coronavirus cases.
US stocks closed higher as investors put faith in signs that the spread of the coronavirus is stabilizing in hard-hit locations.
US Futures (Dow Jones) traded at 23228, down 18 points or 0.08%.
Asian markets like South Korea, Taiwan, Hong Kong Index gained 1-2%. SGX Nifty traded at 8,885.50, up 1.54%.
Expiry day
9: 40 AM
Today is also weekly nifty and bank nifty expiry day.
Cipla climbs 15%
9: 30 AM
Cipla shares climbed 15% to Rs 589.95 on BSE after the pharma major announced that US FDA has approved the metered dose inhaler generic (Albuterol Sulfate Inhalation Aerosol 90mcg), added that it recognized the need for a drug like 'Albuterol Sulfate' during COVID19. The drug is used for treatment of acute episodes of bronchospasm or prevention of asthmatic symptoms
The entire Albuterol Sulfate HFA Inhalation Aerosolmarket had US sales of approximately $2.8 Billion for the 12-month period ending February 2020.
Opening Bell
9: 15 AM
Benchmarks Sensex and Nifty opened on a positive note on Thursday, amid strong rally from overseas. The 30-share BSE Sensex opened 600 points higher at 30,500 and 50-share barometer NSE Nifty started 220 points higher at 8,968.
Key data today
9: 10 AM
Feb IIP data will be releasing at 5.30 pm today. (Bloomberg expectation 3.4% vs 2% previous month).
Pre-open session
9:05 AM
In the pre-open session today, the 30-share BSE Sensex traded 500 points higher at 30,413 and 50-share barometer NSE Nifty rose 200 points higher to 8950.
Oil surges ahead of OPEC+ meet
8: 55 AM
Oil prices surged marginally in early trade ahead of a crucial meeting of oil-producing countries. Crude Oil traded 0.50% higher at 33.34 USD after rising as much as 6% overnight and. According to reports, OPEC+ is to discuss a massive cut of up to 10 mbpd in its meet Thursday. Brent crude has risen almost 56% from recent lows.
Global market cues
8: 45 AM
Wall Street jumped on hopeful signs about the coronavirus outbreak in the United States was nearing a peak. The Dow Jones Industrial Average and the S&P 500 gained 3.41%, while the Nasdaq Composite added 2.58%.
This also lifted the MSCI's index of global equities more than 2%.
Asian shares were poised to track Wall Street's gains, with Hang Seng, SGX Nifty, Strait Times and Kospi trading 1% higher today, while Nikkei and Taiwan fell marginally.
Stocks to watch today on April 9
8: 35 AM
IDBI Bank, HDFC Bank, NLC Indiaamong others are the top stocks to watch out for in Thursday's trading session
Stocks in news:IDBI Bank, HDFC Bank, NLC India and more
Market expectations
8: 30 AM
Sensex and Nifty are likely to open higher on Thursday tracking bullish global rally and strong cues from overseas. SGX Nifty traded 135 points higher at 8,867 level, indicating a positive start in domestic grounds today. On Wednesday BSE 30-share index Sensex ended 173 points lower to 29,893 and 50-share barometer NSE Nifty closed 43 points lower at 8,748.
Coronavirus toll in India
8: 20 AM
India has recorded a total of 5,274 coronavirus cases, of which 4,714 are active & 410 have been recovered. India on Wednesday recorded biggest single day jump in both the number of coronavirus cases and deaths so far. India reported 773 new cases and reported 32 deaths in 24 hours period on Wednesday.
Global toll from virus
8: 15 AM
There 15.18 lakh confirmed cases worldwide and almost 0.88 lakh deaths from the coronavirus COVID-19 outbreak. Several countries have closed their borders and urged citizens to stay back home as a part of coronavirus measures. As of Thursday, the number of infected cases in India has increased to 5,916, with 506 recovered cases.
DII/FII action on Wednesday
8: 10 AM
On a net basis, FIIs bought Rs 1,943.4 crore while DIIs net sold Rs 1,757.8 crore in equities on Wednesday.
Rupee on Wednesday
8: 05 AM
Rupee ended at record closing low of 76.37 against the US dollar on Wednesday as compared to its previous closing of 75.64 against the US dollar on Tuesday.
Last close
8: 00 AM
Sensex and Nifty gave up early gains and ended on a bearish note on Wednesday, in line with global peers. Yesterday, BSE 30-share index Sensex ended 173 points lower to 29,893 and 50-share barometer NSE Nifty closed 43 points lower at 8,748.