Sensex, Nifty Updates: Domestic indices started off the week sharply bearish on Monday and fell 4.2% each, tracking weak cues from overseas, that fell on fresh cues of US-China trade war. BSE Sensex traded 1721 points lower at 32,000 and NSE Nifty lost 492 points to 9,367. Globally markets traded in red, amid rising US-China tensions over the coronavirus. This came after US President Trump and U.S. Secretary of State Mike Pompeo blamed China for creating the new coronavirus in a Chinese laboratory.
Investors will also be taking cues from the latest released March quarter earnings. Companies that recently announced their March quarter earnings are Reliance Industries, Tech Mahindra, Hindustan Unilever, Apollo Tricoat Tubes, Laurus Labs, Aditya Birla Money, ICICI Lombard, AU Small Finance Bank among others.
Here's a look at the updates of the market action on BSE and NSE today
12.32 PM: FPIs ouflow in April
Foreign portfolio investors (FPIs) pulled out a sum of Rs 15,403 crore from the Indian capital markets in the month of April, due to the coronavirus crisis.
FPIs net sold Rs 6,884 crore from equities and Rs 8,519 crore from the debt segment between April 1-30, 2020. The total net outflows during the month of April stood at Rs 15,403 crore.
FPIs remain in sell-off mode, withdraw Rs 15,403 crore in April
12.07 AM: Dollar today
The dollar index rose by 0.31% to 99.38.
11: 59 AM: Sectors in red today
Sectorally, barring pharma, all the other sectors were declining today. While metal, banking and financial dropped over 7% each, realty and auto were down 6.5% each, followed by 5% fall in media and PSU Banking index.
11: 47 am: Top losers and Gainers
UPL, GAIL, Vedanta, Hindalco, Tata Motors, ICICI Bank were among the top losers today, while Cipla, Sun Pharma, Dr. Reddy were among the top gainers on NSE Nifty.
11: 45 AM: Tata Motors share price falls over 12%
Tata Motors share declined over 12% to Rs 81.5 compared to the previous close of Rs 93.10. Stock opened 6% lower at Rs 87.45. It has fallen after four days of consecutive gains. On Thursday, share price of Tata Motors gained 20% to Rs 93.75 compared to the previous close of Rs 78.15 on BSE.
11: 30 AM: ICICI Bank share price falls 10%
ICICI Bank share price falls 9.96% to Rs 342 compared to the previous close of Rs 379.90 on BSE. ICICI Bank stock has fallen after 4 days of consecutive gain.
The bank plans to announce Q4, FY2020 results on May 9, 2020.
11: 20 AM: Market update
Of 30 Sensex stocks, 29 were trading in the red. Sun Pharma was the sole gainer rising 1% to Rs 469.40. Market breadth was negative with 424 stocks rising against 1,694 stocks losing on BSE.
11: 11 am: BSE gainers
Top gainers on BSE were Cipla (3.91%), Swan Energy (6.10%), and Radico (4.75%).
11: 03 AM: Rupee opens 61 paise lower
The Indian currency opened 61 paise lower at 75.71 to the dollar . On Thursday, rupee closed at 75.10. The currency market was closed on Friday, May 1 on account of Maharashtra Day. On April 30, the rupee closed 57 paise higher at 75.10 per dollar, amid strong buying in the domestic equity market.
Rupee vs Dollar: Rupee plunges 71 paise to 75.80 amid strengthening of US currency
10.52 AM: Adani Enterprises share price declines 7.6%
Adani Enterprises share price fell 7.6% intraday to Rs 130.65 asa agisnt tthe last close of Rs 141.45 after the company announced that its board plans to announce Q4, FY20 results, fund raising on May 6, 2020
10.47 AM: AU Small Finance Bank share price falls 5% post Q4 results
AU Small Finance Bank share price fell to the intraday low of Rs 516.55 on BSE, falling 4.99% after the company reported its March quarterly results.
The company reported 3.4% rise (YoY) in consolidated net profit to Rs 122 crore during the quarter ended March 31, 2020 as against Rs 118 crore, recorded in a year-ago period.
Total income rose 35% (YoY) to Rs 1,366 crore in the January-March quarter of the current fiscal as compared to Rs 1,007 crore in the same period last financial year.
10.43 AM: Jumbo Bag share price up 4.5%
Jumbo Bag share price gainsed 4.73% intraday after the company said it has partially resumed manufacturing operations.
10.39 AM: JSW Steel share price drops almost 10% post production figures
Shares of JSW Steel fell 9.99% intraday to the day's low of Rs 162.85 as against Rs 180.90 on BSE after the compay reported Crude Steel production at 5.63 lakh tonnes for April 2020, clocking an average capacity utilisation of 38% for the month. Company also produced 3.44 lakh tonnes of rolled products flat and 0.89 lakh tonnes rolled products long.
10.28 AM: ICICI Lombard General Insurance share price drops 6.6% post Q4 results
ICICI Lombard General Insurance share price fell 6.6% intraday to the day's low of Rs 1202.90 on BSE as agsinst last closing of Rs 1288.40 on BSE.
The company reported 23.8% rise (YoY) in consolidated net profit to Rs 281 crore during the quarter ended March 31, 2020 as against Rs 227 crore, recorded in a year-ago period. Total income rose 12% (YoY) to Rs 2,850 crore in the January-March quarter of the current fiscal as compared to Rs 2,543 crore in the same period last financial year.
10.16 AM: Apollo Pipes share price slips 7.5%
Apollo Pipes share price slipped 7.5% intraday to the day's low of Rs 295.05 on BSE as compared to the last closing of Rs 319.30 on BSE.
Company's reported 16.6% rise (YoY) in consolidated net profit to Rs 6.18 crore during the quarter ended March 31, 2020 as against Rs 5.30 crore, recorded in a year-ago period. Total income rose 4.75% (YoY) to Rs 96 crore in the January- March quarter of the current fiscal as compared to Rs 92 crore in the same period last financial year.
10.09 AM: Hindustan Unilever share price drops 5.26% post Q4 earnings
Hindustan Unilever share price dropped5.26% to the intraday low of Rs 2,075 as against the last closing value of Rs 2195.70 on BSE after the company reported its March earnings.
The company has reported 3.63% drop in its net profit of Rs 1,515 crore in March 2020 as against Rs 1,572 crore in March FY 2019.
Its total income fell 8.13% to Rs 9,475 crore during the period ended March 31, 2020 as compared to Rs 10,314 crore during the period ended March 31, 2019.
Company's board has recommended a final dividend of Rs 14 per share.
10.03 AM: Tech Mahindra share price drops 7.8% after Q4 results
Tech Mahindra share price fell 7.8% intraday to Rs 503.45 on BSE as compared to its previous closing value of Rs 503.45.
The IT major's net profit stood at Rs 803.9 cr, dropping 29% as against Rs 1132.5 crore on a yearly basis.
Company's total income rose 7.9% yearly to Rs 9775 crore as compared to Rs 9059 crore.
Company's board has also approved a final dividend of Rs 5 per share.
9.55 AM: Why globally markets are falling today
Asian stocks fell today as US-China tensions weighted on investors' sentiment. US-China political uncertainty and China currency devaluation against US Dollar also has kept the trend cautious overseas.This came after US president Trump and U.S. Secretary of State Mike Pompeo blamed China for creating the new coronavirus in a Chinese laboratory.
9.45AM: Crude oil declines
Brent Crude fell to $25.8 per barrel, down 2.27%.
9.40 AM: RIL share price falls 3.22%
Share price of Reliance Industries fell 3.22% intraday to the day's low of Rs 1419.75 as against its previous close of Rs 1467.05 on BSE, after the company posted its quarterly results.
RIL reported 0.59% fall(YoY) in consolidated net profit to Rs 39,354 crore during the quarter ended March 31, 2020 as against Rs 39,588 crore, recorded in a year-ago period.
Total income rose 5.7% (YoY) to Rs 6,25,601 crore in the January- March quarter of the current fiscal as compared to Rs 5,91,480 crore in the same period last financial year.
Company has said it is set to achieve net zero debt status ahead of its own aggressive timeline.
Company's board has recommended a dividend of Rs 6.50 per share. Conglomerate's board has also approved rights issues for up to Rs 53,125 cr at Rs 1,257 per share.
RIL share price slides 3% on fall in Q4 net profit
In another update, tech investor Silver Lake has invested Rs 5,655.75 crore in Reliance Industries Jio Platforms.
"In the wake of the severe economic disruptions caused by the COVID-19 pandemic, globally and especially within India, this partnership with one of the most renowned tech-investors globally, Silver Lake, has special significance," the RIL statement said.
Silver Lake to invest Rs 5,655 cr in Jio Platforms at higher valuation than Facebook deal
9.30 AM: News Alert
PM Modi will be addressing in the virtual Non Aligned Movement Summit at 4:30PM today
The NAM represents the biggest grouping of countries outside the United Nations, comprising 120 developing countries from Asia, Africa, and Latin America. Leaders of the Non Aligned Movement grouping will discuss measures to jointly fight COVID19.
In local cues, India has extended of the nationwide lockdown till 17 May, 2020. The nation has reported a total of 42,533 coronavirus cases, including 11,706 cured or discharged and 1,373 deaths.
9.25 AM: Opening session
Domestic indices started off the week sharply bearish on Monday, tracking weak cues from overseas, that fell on fresh cues of US-China trade war. BSE Sensex traded 969 points lower at 32,768 and NSE Nifty was falling 326 points lower to 9,553.
9.15 AM: Stocks to watch today on May 4
RIL, Tech Mahindra, HUL, ICICI Lombard, IDFC First Bank, AU Small Finance Bank among others are the top stocks to watch out for in Monday's trading session.
Investors will also be taking cues from the latest released March quarter earnings. Companies that recently announced their March quarter earnings are Reliance Industries, Tech Mahindra, Hindustan Unilever, Apollo Tricoat Tubes, Laurus Labs, Aditya Birla Money, ICICI Lombard, AU Small Finance Bank among others.
9.10 AM: Pre-open session today
Benchmarks Sensex and Nifty have opened sharply lower on Monday, backed by weak global cues. BSE Sensex traded 969 points lower at 32,768 and NSE Nifty was falling 326 points lower to 9,553.
8.55 AM: Quote on Extension lockdown and its impact by Geojit Financial Services
Expressing views over the lockdown extension and it's impact, Vinod Nair, Head of Research at Geojit Financial Services said," It is not a big surprise for the market since it was expecting phase-wise reopening of the economy which is mostly in-line with the latest protocol. The extension will have a mere impact since the main thesis of the market that the economy will open effectively post June 2020 is largely maintained.
But more than that the market has realized a concern, based on latest economic & corporate data, that the cascading effect on the domestic economy & corporate earnings is much more than anticipated. While the global market is worried about deglobalization and trade war which will impact further the economy, unemployment and possible bankruptcies in the future."
8.50 AM: Nifty outlook
In the last week, NSE-NIFTY gained in all four trading sessions and finally, ended holiday truncated week on a strong note.
For today's outlook, support is placed at around 9,235 and then at 9,100 levels, while resistance is observed at 9,740 and then at 9,900 levels. In case of decline, the index will initially find support around its 20-day EMA (placed around 9,235 level) and then around 8,800 mark. On the higher side, NIFTY will face major hurdle around 10,000 level.
8.45 AM: Global cues today
Oil prices and global stocks came under pressure in today's session amid rising US-China tensions over the coronavirus. This came after US president Trump and U.S. Secretary of State Mike Pompeo blamed China for creating the new coronavirus in a Chinese laboratory.
Meanwhile, SGX Nifty was bucking the trend in trade today, rising 60 points higher at 9,375. Shanghai and Set Composite were rising 1.5% today.
8.40 AM: Recent March earnings
Companies that recently announced their March quarter earnings are Reliance Industries, Tech Mahindra, Hindustan Unilever, Apollo Tricoat Tubes, Laurus Labs, Aditya Birla Money, ICICI Lombard, AU Small Finance Bank among others
8.35 AM: Market expectations
Benchmarks Sensex and Nifty are likely to open on a negative note on Thursday, backed by weak global cues. Meanwhile, SGX Nifty was bucking the trend in trade today, rising 60 points higher at 9,375.
In local cues, India has extended of the nationwide lockdown till 17 May, 2020. The nation has reported a total of 2,644 cases in the last 24 hours, taking the toll of total coronavirus cases to 39,980, including 10,632 recoveries and 1,301 deaths. In important global news, USFDA has granted emergency use authorization (EUA) to investigational antiviral remdesivir to treat COVID-19 patients.
8.30 AM: 8 core industries
March eight core industries growth came in at a fall of 6.5% as compared to 7.1% on a monthly basis.
8.20 AM Coronavirus toll
India has reported a total of 2,644 cases in the last 24 hours, taking the toll of total coronavirus cases to 39,980, including 10,632 recoveries and 1,301 deaths.
8. 10 AM: Rupee
The currency benchmark rupee settled at 75.12 per dollar as compared to its last close of 75.68 per US dollar.
8.00 AM: Closing Bell
Benchmark Sensex and Nifty closed higher on the last day of the month, led by firm global cues amid heavy buying in index heavyweights. On the April F&O expiry day, BSE Sensex ended 997 points higher at 33,717 and NSE Nifty climbed306 points to 9,859. News about positive trial results of an experimental COVID-19 treatment helped investors shrug off weak economic data. Financial markets remained closed on Friday on account of Maharashtra Day