Sensex, Nifty Updates: Benchmark Sensex and Nifty climbed sharply on Monday, backed by strong global cues, as investors shook off weak economic data and focused on the upcoming earnings season. BSE Sensex rose 567 points higher at 32,210 and Nifty climbed to 9,425, rising 173 points. Market investors on domestic grounds were also anticipating stimulus outcome from PM Modi's meet, with all Chief Ministers on Monday, at 3 pm and FM's meet with Public Sector Banks via video conference. Globally indices turned green as investors turned optimistic over prospects of economies re-opening their borders from coronavirus induced lockdown. US stock indexes logged solid gains and closed higher on Friday, after data on historic job losses showed they were slightly fewer than feared.
Here's a look at the updates of the market action on BSE and NSE today
10.53 AM: Crude falls today
Brent Crude traded at $30.56 per barrel, down 1.32%.
10.47 AM: Global cues
Asian stocks rose after a number of countries reported the fewest deaths from the coronavirus since March. Meanwhile, US stocks closed higher on Friday despite record job losses. US Futures (Dow Jones) traded at 24435, up 149 points or 0.61%.
10.29 AM: Reliance Industries share price gains 3.4%
Reliance Industries share price touched an intraday high of Rs 1614.8, rising 3.4% on BSE after the company said it has fixed May 14, 2020 as the record date for rights issue. The filing said that the rights issue opening and closing dates will be announced later.
10. 18 AM: SBI Cards share price falls over 3% post results
SBI Cards share price touched an intraday low of Rs 544.1 onBSE, falling 3.09% today after the company reported its quarterly results. The company's consolidated net profit at Rs 85 crore during the quarter ended March 31, 2020 as against Rs 249 crore, recorded in a year-ago period. Total income was up 21% (YoY) to Rs 2,510 crore in the January-March quarter of the current fiscal as compared to Rs 2,076 crore in the same period last financial year. Company's Gross NPA stood at 2.01% compared to 2.44% (YoY). Company's board has approved a dividend of Re 1 for FY2020.
10.06 AM: ICICI Bank share price
ICICI Bank share price fell to the intraday loss of Rs 330.90 on BSE today, down 2% after the company reported its quarterly results.The lender reported 26% rise in its standalone net profit at Rs 1,221 crores against Rs 969 crore in year-ago period. Lender's total deposits of the lender increased by 18% year-on-year to Rs 7.7 lakh crore, while net NPA fell to 1.41% as against 1.49% in December quarter and 2.06% in year-ago period.
9. 55 AM: Q4 result date announcements
Piramal Enterprises: May 11, 2020
Sequent Scientific: May 12, 2020
Umang Dairies: May 13, 2020
Datamatics Global Services: May 14, 2020
AAVAS Financiers: May 14, 2020
Aarti Drugs: May 15, 2020
9.48 AM: Market indices rises further
Benchmark Sensex and Nifty climbed sharply on Monday, backed by strong global cues, as investors shook off weak economic data and focused on the upcoming earnings season. BSE Sensex rose 567 points higher at 32,210 and Nifty climbed to 9,425, rising 173 points. Market investors on domestic grounds were also anticipating stimulus outcome from PM Modi's meet, with all Chief Ministers on Monday at 3 pm and FM's meet with Public Sector Banks via video conference.
9.40 AM: Top gainers/ Losers
Zee Entertainment, Tata Motors, Maruti, Vedanta and IndusInd Bank were among the top gainers today. On the contrary, Dr Reddy, Nestle India and ICICI Bank were among the top losers on NSE today.
Q4 Earnings Today: Wockhardt, Godrej Properties, Godrej Agrovet, Motilal Oswal Financial Services, Sonata Software, Dharamsi Morarji Chemical, Orient Abrasives, Piramal Enterprises, Saint-Gobain Sekurit, Subex, Welcure Drugs, ADF Foods, Artson Engineering among others will be reporting March quarterly results today.
9.30 AM: Q4 Earnings Today
Wockhardt, Godrej Properties, Godrej Agrovet, Motilal Oswal Financial Services, Sonata Software, Dharamsi Morarji Chemical, Orient Abrasives, Piramal Enterprises, Saint-Gobain Sekurit, Subex, Welcure Drugs, ADF Foods, Artson Engineering among others will be reporting March quarterly results today.
9.19 AM: Opening bell
Benchmark Sensex and Nifty opened on a positive note on Monday, backed by strong global cues. BSE Sensex rose 458 points higher at 32,100 and Nifty started at 9,369, rising 118 points.
9. 15 AM: Stocks in news today
RIL, HDFC AMC, ICICI Bank, Adani Transmission, Cipla, Lupin, Shree Cement, SBI Cards among others are the top stocks to watch out for in Monday's trading session
9.07 AM: Pre-open session today
Sensex pre-opened 450 points higher at 32,000 and Nifty started at 9,335, rising 89 points higher.
9.00 AM: Global cues
US stock indexes logged solid gains and closed higher on Friday after data on historic job losses showed they were slightly fewer than feared. The Dow Jones Industrial Average rose 1.91%, the S&P 500 gained 1.69%, and the Nasdaq Composite added 1.58%.
All the Asian counterparts were trading positively today, tracking bullish trend from overseas.
8.56 AM: News Alert
PM Narendra Modi will be holding a video conference call with all Chief Ministers on Monday, May 11, at 3 pm. Meanwhile, Finance Minister Sitharaman will be reviewing credit flows by Public Sector Banks on May 11 via video conference
8. 52 AM: SGX Nifty up 80 points
SGX Nifty traded 185 points higher at 8,447 level, indicating a positive start in domestic grounds today.8. 40 AM: Rupee closing on Friday
On the currency front, Indian Rupee settled at 75.54 per dollar as against the earlier closing of 75.75 per dollar.
8. 30 AM: FII/ DII action on Friday
On a net basis, FIIs bought Rs 1,725 crore worth in equities, while DIIs sold Rs 1,503 crore equities on Friday's trade.
8. 20 AM: Coronavirus toll
Globally, there are 41.80 lakh confirmed cases and 2.8 lakh deaths from the coronavirus COVID-19 outbreak. The number of infected cases from coronavirus in India has risen by 3,277 in the past 24 hours, taking the total tally to 62,939, including 19,357 cured and 2,109 deaths.
8.00 AM: Friday's closing bell
Benchmarks Sensex and Nifty closed higher on Friday, tracking bullish rally from overseas as investors shook off weak economic data and focused on upcoming earnings and stock specific action. Market indices were off day's high, closed on a bullish note on the last day of trading in the week. Reversing from losses after two straight sessions, Sensex climbed 199 points higher at 31,642 and Nifty rose 52 points to 9,251.