Sensex, Nifty Updates: Tracking volatility from Asian counterparts, Sensex and Nifty reserved trend and traded higher by the first hour of session on Thursday. Sensex climbed 102 points to 33,610 and Nifty rose 45 points to 9,926. Earlier domestic indices opened tad lower, tracking weak cues from in Asian equities, and Wall Street Futures amid fears of resurgence of the virus in US and China. On Wednesday's volatile session, Sensex closed 97 points at 33,507 and Nifty declined 32 points lower to 9,881. Domestic markets continued to trade volatile today as investors turned pessimistic amid fresh escalated tensions between Indian and Chinese troops that were reported at a disputed border site on Monday. Meanwhile, companies set to announce their earnings are Bajaj Consumer Care, IRB Infrastructure Developers, City Union Bank, CARE Ratings Thomas Cook, GSFC, Whirlpool among others.
Here's a look at the updates of the market action on BSE and NSE today
10. 59 AM: Natco Pharma share price drops 3% post results
Natco Pharma share price fell 2.9% to the intraday low of Rs 595.6 on BSE, after the company posted its March quarterly results. Company's net profit came at Rs 138 crore in FY20 as against loss of Rs 148 crore in FY19. Company's total income rose 0.2% (YoY) to Rs 454 crore in the January-March quarter of the current fiscal as compared to Rs 455 crore in a year-ago period.
10.47 AM: Pidilite Industries share price falls almost 3% post result
Pidilite Industries share price touched an intraday low of Rs 1391, falling 2.89% on BSE, after the company reported poor March quarter results.
Company's net profit fell 33% at Rs 156 crore in FY20 as against profit of Rs 236 crore in FY19. Company's total income fell 5.8% (YoY) to Rs 1,554 crore in the January-March quarter of the current fiscal as compared to Rs 1,639 crore in a year-ago period.
10.30 AM: Market rises further
Tracking volatility from Asian counterparts, Sensex and Nifty reserved trend and traded higher by the first hour of session on Thursday. Sensex climbed 102 points to 33,610 and Nifty rose 45 points to 9,926. Earlier domestic indices opened tad lower, tracking weak cues from in Asian equities, and Wall Street Futures amid fears of resurgence of the virus in US and China.
10.20 AM: Muthoot Finance share price hits all time high post earnings
Muthoot Finance share price hit all-time high in early trade today after the gold financing company reported a 59% growth in Q4 profit. Share price of Muthoot Finance rose up to 9.5% to Rs 1095 against previous close of Rs 1000 on BSE. Muthoot Finance share has gained 12.58% in 3 days.
Company's net profit rose to Rs 829.4 crore in FY20 as against profit of Rs 541.86 crore in FY19. Company's total income rose to (YoY) Rs 2,630.5 crore in the January-March quarter of the current fiscal as compared to Rs 2,084.64 crore in a year-ago period.
Muthoot Finance share price hits all-time high post strong Q4 earnings
10.11 AM: Market turns volatile
Tracking volatility from global equities, Sensex and Nifty were trading marginally higher by the first hour of session. Sensex climbed 80 points to 33,589 and Nifty rose 22 points to 9,903.
9. 56 AM: Gold steady today
Gold price remained steady on concerns of second wave of coronavirus and expectation of Fed holding rates but gains were limited as dollar remained strong.
9.43 AM: Oil prices drop today
Oil prices dropped on Thursday with US crude futures falling 1.9% to $37.49 per barrel, while international benchmark Brent lost 1.4% to $40.14 a barrel. Oil price gave up some gains as U.S. stockpiles rose to a record high for the second consecutive week.
9. 30 AM: Nifty outlook
Expressing views on Nifty's short term outtlook, Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking said, "Tensions at the India-China border is keeping our market on it's toes. This is clearly getting reflected in prices, the way market is behaving since last couple of days. Technically speaking, Nifty is struggling to surpass the sturdy wall at 10000 and at the same time, 9800-9700 has become a key support zone. Any negative development on the domestic as well as global front, will lead to a breakdown below these levels. However until then, there is still a ray of hope and a move beyond 10000 would strengthen the upside rally."
9. 17 AM: Opening bell
Domestic indices Sensex and Nifty opened tad lower on Thursday, tracking weak cues from in Asian equities, and Wall Street Futures amid feras of resurgence of the virus in US and China. Sensex was down 11 points at 33,496 and Nifty was trading 7 points higher at 9,888. Domestic markets continued to trade volatile today as investors turned pessimistic amid fresh escalated tensions between Indian and Chinese troops that were reported at a disputed border site on Monday.
9.10 AM: Global cues
Overseas, Asian equities and Wall Street futures were trading lower on Thursday, amid surge in new coronavirus infections in some US states and China that erased hopes of a quick global economic recovery from the pandemic.
While several US states including reported a surge in new coronavirus infections, China's Beijing cancelled flights, shut schools and blocked off some neighborhoods.
Asian equities, Wall Street futures retreat on rising second wave fears
8.55 AM: Stocks to watch today on June 18
Bajaj Auto, Vodafone Idea, Bharti Airtel, Natco Pharma, Muthoot Finance, JK Cements, Pidilite among others are the top stocks to watch out for in Thursday's trading session
Stocks in news: Bajaj Auto, Natco Pharma, Muthoot Finance, JK Cements, Pidilite, Fortis Healthcare
8.50 AM: Earnings today
Bajaj Consumer Care, IRB Infrastructure Developers, City Union Bank, CARE Ratings Thomas Cook, GSFC, VST Tillers, Lumax Industries, Thermax, MOIL, Magma Corp, Caplin Point Laboratories, Gujarat Alkalies & Chemicals, Whirlpool among others will report their Q4 results today.
8.45 AM: FII/DII action
On a net basis, FIIs offloaded Rs 486.62 crore while DIIs bought Rs 168.05 cr ore worth in equities on Wednesday
8.40 AM: Rupee Closing
On the currency front, Rupee, the local currency, ended at 76.15 per US dollar as against the last closing of 76.21 per dollar.
Commenting on the local unit, Anuj Gupta DVP Commodities and Currencies Research, Angel Broking said," Geopolitical tension between Indian & China is a major cause of depreciation of USDINR. Although uncertainty in the global financial market and increase cases of Covid-19 are also negative for the currency. We expect USDINR may depreciate further and it is expected that USDINR may test 76.60 - 76.80 levels soon."
Rupee recovers losses, rises 4 paise against US dollar; what to expect amid India-China border row
8.35 AM: Market Expectations
Domestic indices Sensex and Nifty are likely to open lower on Thursday, amid weakness in Asian equities, including SGX Nifty. SGX Nifty was falling 70 points lower at 9,970, indicating bearish trend in domestci grounds today. On Wednesday's volatile session, Sensex closed 97 points at 33,507 and Nifty declined 32 points lower to 9,881.
8.30 AM: Closing Bell
Domestic indices Sensex and Nifty closed tad lower on Wednesday's volatile session, amid weakness in Asian counterparts. Sensex closed 97 points at 33,507 and Nifty declined 32 points lower to 9,881. Domestic benchmarks opened lower today amid weakness in Asian counterparts and fresh escalated tensions between India and China.
India-China border tensions: Sensex falls 97 points, Nifty ends at 9,881 in volatile trade