Sensex, Nifty Updates: Sensex and Nifty opened on a positive note on Friday, bucking the weakness in Asian counterparts. Domestic indices, however gave up early gains and traded tad lower, tracking weak cues from in Asian equities, and Wall Street Futures amid fears of resurgence of the virus in US and China. Sensex climbed 66 points to 34,274 and Nifty rose 26 points higher to 10,117. On Thursday, Sensex ended 700 points to 34,208 and Nifty rose 210 points to 10,091. Meanwhile, companies set to announce their earnings are Punjab National Bank, Bajaj Electricals, LIC Housing Finance, Oil India, Cadila Healthcare, Camlin Fine Sciences, Century Plyboards among others.
Here's a look at the updates of the market action on BSE and NSE today
12.23 PM: Top gainers and losers
Bajaj Finance, ONGC, Axis Bank, Tata Steel, IndusInd Bank and SBI were among the top gainers on Sensex pack. On the other hand, Infosys, HCL Tech, Hero MotoCrop and M&M were among the laggards.
12.09 PM: Brent crude today
Brent crude futures, the global oil benchmark, rose 0.89 per cent to USD 41.88 per barrel.
11.57 AM: Rupee falls 15 paise to 76.29 per dollar
Indian rupee, the currency benchmark depreciated 15 paise to 76.29 per US dollar on Friday opening bell, tracking weakness from Asian peers, despite the dollar index trading lower.
Although positive domestic equities supported the rupee, the spike in coronavirus cases and border tensions with China weighed on the domestic unit.
The local unit opened at 76.28 against the US dollar at the interbank forex exchange, then fell further to 76.29 against the US dollar, down 15 paise over its previous close of 76.14 against the greenback on Thursday.
Rupee vs Dollar: Rupee falls 15 paise to 76.29 per dollar amid weakness in Asian counterparts
11.22 AM: GSFC share price drops over 4%
Gujarat State Fertilizers & Chemicals share price touched an intraday low of Rs 53, falling 4.42% on BSE today.
The company reported net profit at Rs 61.85 crore during the quarter ended March 31, 2020, as against profit of Rs 97.91 crore, recorded in a year-ago period. Company's total income came at Rs 1,863 crore in the January-March quarter of the current fiscal as compared to Rs 1,986 crore in a year-ago period.
11.00 AM: RIL share hits all-time high
Reliance Industries Ltd (RIL) share price hit all-time high in early trade today after the firm said it has become net debt free after raising Rs 168,818 crore in just 58 days. In August 2019, chairman Mukesh Ambani had said the firm planned to become debt free by March 31, 2021.
The Mukesh Ambani-led firm said it raised Rs 115,693.95 crore from global tech investors and Rs 53,124.2 crore through rights issue. The stock has gained 3.39% in last two days.
RIL share hits all-time high after firm becomes net debt-free ahead of target
10.52 AM: Tata Motors share price rises marginally
Tata Motors share price was rising marginally higher despite company announcing that Moody's has downgraded its rating and changed outlook to negative.
Moody's Investors Service on Thursday said it has downgraded Tata Motors rating as the company faces tough market conditions amid the coronavirus pandemic. The rating agency said it has downgraded Tata Motors' corporate family rating (CFR) and senior unsecured instruments rating to B1 from Ba3.
Coronavirus effect: Moody's changes Tata Motors' outlook to negative, downgrades rating
10. 30 AM: Nifty outlook
Reliance Securities in its daily report said, "NSE-NIFTY is on the verge of breakout and its key technical indicators are also positively poised. In case the index manages to surpass its 100-day SMA convincingly (placed around 10,112 level), next leg of up-move will start. This could lead the index towards 10,500 and 10,800 levels. On the lower side, its medium-term moving average (50-day EMA) will act as a key reversal point for the index, which is now placed at 9,684 mark.
As for the day, support is placed at around 9,950 and then at 9,840 levels, while resistance is observed at 10,180 and then at 10,330 levels."
10.15 AM: Bajaj Consumer Care share price drops over 8% post earnings
Bajaj Consumer Care share price opened with a loss of 4.79% today and later touched an intraday low of Rs 140, falling 8.11% on BSE.
The company reported net profit at Rs 23.3 crore during the quarter ended March 31, 2020, as against profit of Rs 59.83 crore, recorded in a year-ago period. Company's total income came at Rs 178.8 crore in the January-March quarter of the current fiscal as compared to Rs 247.4 crore in a year-ago period.
9. 50 AM: RIL becomes debt free, shares hit new high
RIL share price hit a new 52 week and all time high of Rs.1680 today, rising 1.3% on BSE, after the company chairman Mukesh Ambani announced that Reliance Industries is now debt-free and added, taht he has "fulfilled promise to shareholders much before schedule of 31st March 2021."
Mukesh Ambani's Jio Platforms raised Rs 1,15,693.95 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, and PIF since April 22; Reliance Industries' Rights Issue, subscribed 1.59 times, was largest in the world by a non-financial entity in 10 years
Mukesh Ambani fulfils promise to shareholders as RIL becomes net-debt free months before target
In another update, the oil conglomerate yesterday announced that Saudi Arabia's Public Investment Fund is investing Rs 11,367 crore in Jio Platforms.
Reliance Industries share price hits all-time high as PIF to invest Rs 11,367 crore in Jio Platforms
9.41 AM: Market turns muted
After minutes of Friday's opening bell, domestic indices gave up early gains and traded muted, tracking weakness from Asian equities and US stocks futures.
9.36 AM: Global Cues
Asian shares and U.S. stock futures wobbled in choppy trade on Friday as lingering concerns about an fresh spike in coronavirus cases offset growing hopes for a quick economic recovery. Oil futures rose in Asia on hopes that output cuts will put a floor under prices.
On the whole, markets have been sideswiped this week on fresh contagion concerns, prompting some investors to temper their optimism about how quickly the global economy can recover for the pandemic.
9. 23 AM: Top gainers and losers
Bajaj Finserv, Bajaj Finance, ONGC, Tata Steel, JSW Steel were maong the top gainers today. Infosys, HCL Tech, Wipro, Adani Ports, M&M were among the top losers.
9.10 AM Opening bell
Sensex and Nifty opened on a positive note on Friday, bucking the weakness in Asian counterparts. Sensex climbed 215 points to 34,424 and Nifty rose 56 points higher to 10,150
8.55 AM: Stocks to watch today on June 19
RIL, Cipla, Bajaj Consumer, Whirlpool, City Union Bank, PNB, LIC Housing, Oil India, Cadila among others are the top stocks to watch out for in Friday's trading session
Stocks in news: RIL, Cipla, Bajaj Consumer, Whirlpool, PNB, LIC Housing, Oil India, Cadila and more
8.50 AM: Rupee Closing
Rupee ended weaker at 76.14 per US dollar on Thursday, as compared to the earlier closing of 76.15 per US currency.
8.45 AM: Earnings Today
Punjab National Bank, Bajaj Electricals, LIC Housing Finance, Oil India, Cadila Healthcare, Camlin Fine Sciences, Century Plyboards, Confidence Petroleum India, Anuh Pharma, Astron Paper, Dalmia Bharat Sugar, Entertainment Network India, Greenlam Industries, Kirloskar Oil Engines, Novartis India among others will announce their Q4 results today
8.40 AM: FII/ DII action
On a net basis, FIIs bought Rs 366 crore, while DIIs also bought Rs 1,131 crore worth in equities on Thursday
8.35 AM: Market expectations
Sensex and Nifty are likely to open lower amid weakness in global equities. Domestic indices are expected to open tad lower, tracking weak cues from in Asian equities, and Wall Street Futures amid fears of resurgence of the virus in US and China.
8.30 AM: Closing bell
Sensex and Nifty closed majorly bullish on Thursday, as investors were optimistic ahead of the outcome from FM Sitharaman's press conference today, scheduled to be at 4 PM. Positive opening of European markets further led domestic indices higher. Sensex ended 700 points to 34,208 and Nifty rose 210 points to 10,091.
Sensex rallies 700 points, Nifty ends at 10,091; banks lead gains