Sensex, Nifty Updates: Benchmarks Sensex and Nifty erased earlier gains, although traded higher on Tuesday, backed by strong global cues. BSE Sensex rose 250 points higher to 32,238 and NSE Nifty climbed 80 points to 9,378. Sectorally, barring realty and PSU Bank, all the other sectors traded in green, with media metal and auto rising over 1%. ONGC, M&M, Bharti Airtel, IndusInd Bank, ICICI Bank, PowerGrid and Tech Mahindra were among the top gainers in the Sensex pack. On the other hand, Asian Paints, Titan and Ultratech Cement were the top laggards.
Experts said market sentiments turned cautious amid mixed signals on growth and hopes on a possible vaccine, improve on policy support, corporate earning performances this week and a fresh threat of US-China tariff escalation on the virus backdrop. US stocks closed higher yesterday, boosted by oil rally and technology sector, while Asian stocks rose as a number of economies move toward easing lockdowns.
Here's a look at the updates of the market action on BSE and NSE today
12.42 PM: Earnings scheduled tomorrow
YES Bank, Adani Enterprises, JM Financial, Kansai Nerolac Paints, TCI Developers, DG Content will be reporting their quarterly results tomorrow.
Kansai Nerolac Paints was rising 2.68%, followed by 1.79% rise in Adani Enterprises.
JM Financial fell 2.48%, while YES Bank was falling 1.29% in today's trade.
12.33 PM: Bharat Forge share price climbs 4%
Bharat Forge share price opened with a gain of 2.06% today and later climbed 3.59% to an intraday high of Rs 279.55 on BSE after the company said it has commenced operations in a graded manner with Baramati facility reopening today. The filing added that the company expects production to commence by end of the week.
12. 27 AM: Jindal Steel Plant share price climbs 4%
JSPL share price opened with a gain of 3.57% today and later touched an intraday high of Rs 88.95, rising 4.1% on BSE. The compay reported 5% growth YoY in the production of steel & granulated pig iron to 5.5 lakh tonnes during April 2020 in India.
JSPL Group has recorded 6.55 lakh tonnes of consolidated steel production in April month, the filing added further. The stock trades higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.
12.16 PM: Varun Beverages share price erases gains post Q4
Varun Beverages share price, that was trading 4.95% higher ahead of results today, erased gains and turned flat with negative bias, post the submission of earning figures.
The company reported 50% rise (YoY) in consolidated net profit to Rs 60 crore during the quarter ended March 31, 2020 as against Rs 40 crore, recorded in a year-ago period. Total income rose 23.1%(YoY) to Rs 1,699 crore in the January-March quarter of the current fiscal as compared to Rs 1,381 crore in the same period last financial year.
11.59 AM: AU Small Finance Bank share price down 5%
AU Small Finance Bank share price slipped 4.99% to the day's low of Rs 490.75 after Nomura downgraded the stock. The stock opened at 490.75 and has since traded at this price, It has fallen 9.7% in the last 2 days.
11. 48 AM: Nifty's technical outlook
Nifty's technical outlook as per the Technical & Derivatives Report by Sameet Chavan-Chief Analyst-Technical and Derivatives, Angel Broking
- In case of further escalation, we may see Nifty correcting towards 9100 - 9000
- On the flipside, 9390 followed by 9450 would be seen as immediate hurdles
- Nifty could manage to find support in the zone of 9250-9200 levels.
11. 43 AM: Aviation stocks under pressure
Aviation stocks were under pressure on Tuesday trade after the fall of airline in stocks in US, with Warren Buffett's announcement that Berkshire Hathaway Inc would completely exit stakes from four major US airlines also kept sentiments negative.
Where Indigo shares fell 2% in the opening trade, SpiceJet share price was trading 5% lower today.
11. 38 AM: IndiGo share price rises 5%
InterGlobe Aviation share price rose 5% intraday to the day's high of Rs 974 on BSE as against the previous closing value of Rs 927.50 on BSE.
IndiGo share price trades higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages.
11.29 AM: Nifty gainers and losers
Bharti Infratel, ONGC, M&M, BPCL and Zee Entertainment were the top gainers on Nifty, while Asian Paints, Bajaj Finance, Britannia, Dr Reddy and Cipla were among the losers on Nifty.
11.13 AM: Sensex pack gainers and losers today
ONGC, M&M, Bharti Airtel, IndusInd Bank, ICICI Bank, PowerGrid and Tech Mahindra were among the top gainers in the Sensex pack. On the other hand, Asian Paints, Titan and Ultratech Cement were the top laggards.
11.06 AM: Market update
Experts said market sentiments turned cautious amid mixed signals on growth and hopes on a possible vaccine, improve on policy support, corporate earning performances this week and a fresh threat of US-China tariff escalation on the virus backdrop.
Further, Apple and Amazon's warning of uncertainty ahead due to the coronavirus coupled with billionaire investor Warren Buffett announcement that Berkshire Hathaway Inc would completely exit stakes from four major US airlines also kept sentiments negative.
11.00 AM: Sectors today
Sectorally, barring realty and PSU Bank, all the other sectors traded in green, with media metal and auto rising over 1%.
10.58 AM: Monday's close
Bourses closed sharply bearish on Monday and fell over 5.5% each, tracking weak cues from overseas. BSE Sensex closed 2,002 points lower at 32,000 and NSE Nifty lost 566 points to 9,293.
10.53 AM: Lupin share price rises 2.7%
Lupin share price opened with a gain of 2.71% today and touched an intraday high of Rs 863.9 after the company announced positive top-line results from its pivotal Phase 3 clinical trial to assess efficacy and safety of single-dose Solosec (secnidazole) 2g oral granules in 147 female patients with trichomoniasis.
10.46 AM: Market erases gains
Benchmarks Sensex and Nifty erased earlier gains, although traded higher on Tuesday, backed by strong global cues. BSE Sensex rose 250 points higher to 32,238 and NSE Nifty climbed 80 points to 9,378.
Meanwhile, SGX Nifty also erased gains and traded 119 points higher at 9,359.
10.32 AM: Oil prices gain 5%
Oil prices gained 5% as several countries announced their move towards easing coronavirus induced lockdowns and crude supply cuts took effect.
US crude futures was up 3.87% at $21.18 per barrel and Brent was trading at $27.97 on Tuesday, up 5.79% on the day.
10.24 AM: Rupee opens higher
Rupee the local currency benchmark, opened at 75.62 per dollar as compared to the previous closing of Rs 75.71 per US dollar.
Rupee vs Dollar: Rupee rises 15 paise to 75.58 amid weakness in US dollar
10.13 AM: Coronavirus toll in India
Globally, there are currently 36.45 lakh confirmed cases and 2.2 lakh deaths from the coronavirus COVID-19 outbreak. India's total count of confirmed COVID-19 cases stands at 46,433, including 12,726 recoveries and 1,568 deaths.
10.07 AM: Market rises higher
BSE Sensex rose 550 points higher to 32,238 and NSE Nifty climbed 140 points to 9,433.
9.56 AM: NSE Nifty technical outlook
As per Nifty's technical trends, the index will face hurdle around on the higher side mark which is placed around 9,900. As for the day, support is placed at around 9,240 and then at 9,100 levels, while resistance is observed at 9,550 and then at 9,740 levels.
9.48 AM: Marico gains over 2% post Q4 results
Marico share price opened with a gain of 2.32% today and later rose 6.07% to an intraday high of Rs 301.65 on BSE after the company reported its March quarterly figures.
The company reported 50% drop (YoY) in consolidated net profit to Rs 199 crore during the quarter ended March 31, 2020 as against Rs 403 crore, recorded in a year-ago period.
Total income fell 7% (YoY) to Rs 1,496 crore in the January- March quarter of the current fiscal as compared to Rs 1,609 crore in the same period last financial year.
9.40 AM: Top gainers on Nifty today
UPL, ONGC, Vedanta, Axis Bank and Zee Entertainment were the top gainers on Nifty, while there were no losers in Nifty.
9.35 AM: Most sectors in green
All the sectors opened in green, gaining 1% each today, with financials and banking rising 2% each, followed by 1.9% gain in metal and auto stocks.
9.31 AM: Why markets opened in green today
Most Asian indices turned marginally green, barring Nikkei and Kospi, as investors turned optimistic over Wall Street's closing in the green. US stocks closed higher yesterday, boosted by oil rally and technology sector, while Asian stocks rose as a number of economies move toward easing lockdowns. US Futures (Dow Jones) also traded higher at 23745, up 174 points or 0.74%.
9.22 AM: Opening bell
Benchmarks Sensex and Nifty opened on a positive note on Tuesday, backed by strong global cues. BSE Sensex rose 550 points higher to 32,238 and NSE Nifty climbed 140 points to 9,433.
9.17 AM: Stocks to watch today on May 5
Marico, Lupin, Adani Ports, Varun Beverages, SBI Life, Astec Lifesciences among others are the top stocks to watch out for in Tuesday's trading session
Stocks in news: Marico, Lupin, Adani Ports, Varun Beverages, SBI Life, Astec Lifesciences and more
9.08 AM: Pre-open session
BSE Sensex rose 450 points higher to 32,145 and NSE Nifty climbed 135 points to 9,427.
8.51 AM: Q4 Earnings
Adani Ports, Astec Lifesciences, Rallis India, NIIT Technologies, Tata Coffee, SBI Life, Varun Beverages will be reporting their March quarterly figures today.
8.46 AM: FII action on Monday
On a net basis, FIIs sold Rs 1,374 crore while DIIs also offloaded Rs 1,661.6 crore in equities on Monday's session
8.32 AM: Global cues
SGX Nifty traded 148 points higher at 9,386 level, indicating a positive start in domestic grounds today. Most Asian indices turned marginally green, barring Nikkei and Kospi, as investors turned optimistic over Wall Street's closing in the green.
US stocks ended higher on Monday on back of surge in tech and internet stocks and gain in oil prices. Although investors were cautious about the rising US-China trade war tensions over the coronavirus and downbeat sentiment from the annual meeting of Warren Buffett's Berkshire Hathaway.
8.24 AM: Rupee closing
Rupee closed at 75.71 against the last closing of 75.12 per US dollar.
8.14 AM: Coronavirus toll
India's total count of confirmed COVID-19 cases stands at 42,836, including 29,685 active cases, 11,761 cured/discharged, 1 migrated and 1,389 deaths.
Globally, there are currently 36.45 lakh confirmed cases and 2.2 lakh deaths from the coronavirus COVID-19 outbreak.
8.06 AM: Monday's closing
On Monday, Sensex closed 2,002 points or 5.94% lower at 31,175 and NSE Nifty lost 566 points or 5.74% to 9,293.
Share Market Update: Sensex ends 2,002 points lower, Nifty at 9,293; Hindalco, ICICI Bank top losers