Sensex, Nifty Updates: Benchmarks Sensex and Nifty traded on a bullish note on Wednesday, tracking the general positive trend overseas. Sensex rose 401 points higher at 31,855 and Nifty climbed 112 points to 9,317. Globally indices turned green as investors turned optimistic over prospects of eased lockdowns in some countries. Yesterday, Sensex ended 261 points lower at 31,453 and Nifty fell 87 points to end at 9,205.
US stocks closed higher despite a late-day swoon outweighed cautionary comments from Federal Reserve officials. This was on back of rally in healthcare stocks, surge in oil prices and news that a number of economies move toward easing lockdowns. Asian stocks were trading higher, barring Set Composite and Nikkei that fell to red territory.
Globally, there are currently 37.27 lakh confirmed cases and 2.5 lakh deaths from the coronavirus COVID-19 outbreak. In India, countrywide coronavirus tally was closer to the 50,000-mark, while the death toll cross 1,500 with around 190 more fatalities.
Here's a look at the updates of the market action on BSE and NSE today
11.16 AM: NIIT Technologies share price gains over 11% post Q4 results
NIIT Technologies share price opened with a gain of 3.75% today and later rose 11.84% to the intraday high of Rs 1329.2 on BSE after the company reported its March quarterly numbers. The stock has risen 12.06% in the last 2 days. The company reported 7.68 % rise (YoY) in consolidated net profit to Rs 113.6 crore during the quarter ended March 31, 2020 as against Rs 105.5 crore, recorded in a year-ago period.
Its total income rose 15.51% (YoY) to Rs 1,131 crore in the January-March quarter of the current fiscal as compared to Rs 979 crore in the same period last financial year. Company board has declared a third interim dividend of Rs 11 per share. Company also plans to change its name as Coforge Limited.
NIIT Technologies stock trades higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.
11.07 AM: India's April services PMI
India's services PMI for the month of April came in at 5.4 Vs 49.3 (MoM), recording its largest month-to-month contractions in biz activity and new orders since data collection began over 14 years ago in April.
This was on back of a reduction in output, highlighting the widespread impact of the COVID-19 pandemic and the resulting lockdown leading businesses to shut down their operations as demand collapsed, suggested experts and surveys.
10. 56 AM: Adani Ports share price gains 4% post Q4 results
Adani Ports share price rose 3.91% touched an intraday high of Rs 273.45 on BSE after the company reported its March quarterly results. The company reported 74 % drop (YoY) in consolidated net profit to Rs 334 crore during the quarter ended March 31, 2020 as against Rs 1,285 crore, recorded in a year-ago period. Its total income fell 5% (YoY) to Rs 2,921 crore in the January-March quarter of the current fiscal as compared to Rs 3,083 crore in the same period last financial year.
10. 40 AM: Market rises further
Benchmarks Sensex and Nifty turned volatile and traded on a bullish note on Wednesday, tracking the general positive trend overseas. Sensex rose 160 points higher at 31,614 and Nifty climbed 46 points to 9,252.
10.23 AM: YES Bank share price down 5% ahead of results
YES Bank shares were trading lower ahead of March earnings today.
YES Bank stock touched an intraday low of Rs 25.2, falling 5.26% on BSE. YES Bank stock price has fallen 9.09% in the last 4 days of traded.
Yes Bank stock price is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
10. 14 AM: Global cues
US stocks closed higher despite a late-day swoon outweighed cautionary comments from Federal Reserve officials. This was on back of rally in healthcare stocks, surge in oil prices and news that a number of economies move toward easing lockdowns. Asian stocks were trading higher, barring Set Composite, SGX Nifty and Nikkei that fell to red territory.
10.09 AM: Market turns green
Benchmarks Sensex and Nifty turned volatile and traded on a bullish note on Wednesday, tracking the general positive trend overseas. Sensex rose 160 points higher at 31,614 and Nifty climbed 46 points to 9,252.
9. 57 AM: Tata Coffee share price rises 3.2%
Shares of Tata Coffee rose 3.2% intraday to Rs 80.10 on BSE, after the company posted its March quarterly results. As per company's annual statements, company reported 6% drop (YoY) in consolidated net profit to Rs 9.8 crore during the quarter ended March 31, 2020 as against Rs 10.49 crore, recorded in a year-ago period. Its total income rose 12% (YoY) to Rs 523 crore in the January-March quarter of the current fiscal as compared to Rs 464 crore in the same period last financial year.
9.48 AM: Oil stocks top losers
Oil stocks such as BPCL, IOC, Asian Paints were among the top losers in trade today, falling in the range of 8-1%, due to rise in oil prices. Where Hind Petroleum was down 8.4315, BPCL was falling 5.4%, followed by 4.5% drop in IOC.
Oil continued its surge on Wednesday's trade, with commodity investors optimistic that more economies are moving toward easing their coronavirus lockdowns. Brent Crude Futures traded at $31.15 per barrel, up 0.58% overseas today.
9.42 AM: Market Update
SGX Nifty also fell in red, trading 35.50 points lower at 9,147.
Traders said investor sentiments remain fragile amid concerns over the rising number of COVID-19 cases in the country and the economic fallout of the nationwide lockdown. Traders said investors are also trading cautiously ahead of March quarterly earnings. YES Bank, Adani Enterprises, JM Financial, Kansai Nerolac Paints, TCI Developers, DG Content will be reporting their quarterly results today.
9.27 AM: Opening bell
Sensex and Nifty gave up all gains and opened lower on Wednesday.Bucking the general positive trend overseas, Sensex fell 230 points lower at 31,216 and Nifty declined 69 points to 9,125.
9.12 AM: Stocks to watch today on May 6
Adani Ports, Tata Coffee, Astec Lifesciences, Rallis, YES Bank, Persistent Systems among others are the top stocks to watch out for in Wednesday's trading session
9.05 AM: Pre-open session
Market has pre-opened on a higher note on Wednesday, tracking bullish trend from overseas.
8. 50 AM: Global cues
US indices closed in green, on back of healthcare stocks rallied, surge in oil prices and news that a number of economies move toward easing lockdowns. The Dow Jones Industrial Average rose 0.56%, the S&P 500 gained 0.90% and the Nasdaq Composite added 1.13%.
President Donald Trump announcing that the country has managed to flatten the infection curve and that they are now in the next stage of fighting the deadly virus also added to positive sentiments.
Asian counterparts, barring Nikkei, followed overseas cues and trade marginally higher. SGX Nifty was rising 25 points to 9,226.
8. 45 AM: Q4 earnings today
Investors are trading cautiously ahead of March quarterly earnings. YES Bank, Adani Enterprises, JM Financial, Kansai Nerolac Paints, TCI Developers, DG Content will be reporting their quarterly results today.
8.40 AM: Coronavirus toll
Globally, there are currently 37.27 lakh confirmed cases and 2.5 lakh deaths from the coronavirus COVID-19 outbreak. In India, countrywide coronavirus tally was closer to the 50,000-mark, while the death toll cross 1,500 with around 190 more fatalities.
8. 35 AM: Rupee
Rupee ended higher at 75.62 per dollar on Tuesday as against Monday's close of 75.71 against the US dollar
8. 30 AM: Tuesday's closing
Market indices Sensex and Nifty erased earlier gains and closed in red territory on Tuesday, tracking fall in Asian counterparts. Extending decline for the second straight session, Sensex ended 261 points lower at 31,453 and Nifty fell 87 points to end at 9,205.
Sensex falls 261 points, Nifty ends at 9,205; SBI, Bajaj Finance, Asian Paints top losers