Share Market Update: Benchmark equity indices Sensex and Nifty closed positive on Tuesday, pressured by strong quarterly earnings reported today in the domestic market amid mixed global cues. Sensex recovered more than 250 points from today's low and Nifty traded above level 11,900, following sharp recovery seen in major indices.
Sensex ended 66 points above at 39,749.73, whereas Nifty closed at 11,928.75 level, up by 4 points. Nifty had 21 stocks advancing out of 50, whereas 13 out of 30 stocks ended in the green on Sensex.
IT, Media and Metal were among the most gaining indices of the day, each gaining over 1%, followed by Energy and Realty indices. On the other hand, Bank indices and Financial Services were biggest losers in today's trade, declining over 1%, followed by declines in Auto, Infra and FMCG stocks.
Indian shares rallied over the last few sessions over Modi's return for a second term, however, were largely unchanged on Tuesday in thin trade, as investors waited on the sidelines for cues before making fresh bets.
Here's a look at live updates for the Indian share market today.
Closing Bell
3: 45 pm
Sensex ended 66 points above at 39,749.73, whereas Nifty closed at 11,928.75 level, up by 4 points. Nifty had 21 stocks advancing out of 50, whereas 13 out of 30 stocks ended in the green on Sensex.
SpiceJet Q4FY19 net profit sees a growth of 22% on a yearly basis
3: 30 pm
SpiceJet Q4 net profit is up 22% to Rs 56.3 crore, despite grounding of MAX aircraft. , as against Rs 46.2 crore in the same quarter last year. Airline's average fare is up 11%.
Operating revenues were at Rs 2,531.3 crore for the reported quarter and INR 9113.2 crore for the fiscal 2019. The airline reported 25% growth in operational income against the same quarter last year, while it was up 18% for the year.
On an EBITDA basis, profit is Rs 122.8 crore for the reported quarter and Rs 48.4 crore for the fiscal 2019.
On yearly basis, airline reported net loss of Rs 316.1 crore in FY 2019 following a INR 427.5 crore loss in the first two quarters.
Further, this year saw a 25% increase in aviation turbine fuel prices and 9% depreciation of the Indian rupee that resulted in cost escalations of Rs 695 crore and Rs 285 crore respectively.
Market recovers from day's low
3: 15 pm
Sensex recovered more than 250 points from today's low and Nifty traded above level 11,900, following sharp recovery seen in major indices. Sensex is trading up by 80 points at 39,764, whereas Nifty is at 11,934.70 level, trading up by 9 points. Nifty has 22 stocks advancing out of 50, whereas Sensex has 13 out of 30 stocks trading in the green.
Brent Crude Update
2: 55 pm
Brent crude futures, the international benchmark for oil prices, were at $69.99 at 0637 GMT, down 12 cents, or 0.2%, from the last session's close, when they rose 2.1%.
Oil prices were mixed on Tuesday as supply cuts, led by producer club OPEC, and U.S. sanctions on fuel exports from Iran and Venezuela supported crude, while concerns about an economic slowdown weighed on the market.
Gruh Finance board approves increase in the FPI investment
2: 45 pm
Board of Directors of Gruh Finance has approved an increase in the limit of total investment by all Foreign Portfolio Investors under the Portfolio Investment Scheme to 40% from 24% of the paid-up equity share capital of the Company.
Adani Transmission reports Q4 results
2: 33 pm
Revenue from operations for FY19 is Rs.6,530 crore vs Rs. 2,130 crore of FY18.
Operational EBITDA of FY19 is RS 2,857 crore vs Rs. 1,944 crore of FY18.Operational EBITDA of Rs. 2,051 crore, 91% EBITDA Margin.
Consolidated Profit After Tax for FY19 is Rs. 629 crore, up 38% vs. Rs. 457 crore in FY18.
For the Q4FY19, Consolidated PAT for Q4FY19 is Rs.147 crore compared to Rs. 150 Crore Q4FY18. Total EBITDA from Operations of Rs. 876 crore. Revenue from operations for Q4FY19 is Rs. 2,282 crore vs Rs. 544 crore of Q4FY18.
JBM Auto posts Q4 earnings
2: 15 pm
On yeary basis, the company has reported net profit of Rs 90.99 cr against last year's Rs 81.13 cr, up by 12.15%. Net profit, on quarterly basis is up two fold, from Rs 7.55 cr in Q4FY18 to Rs 14.09 cr this year's quarter.
On consolidated basis, revenue generated from opeartions this year gre by 5.18% to Rs 1,786.43 cr, against Rs 1,687.01 cr recorded last year.
Company's board has recommended the dividend on equity shares of Rs 2.25 per equity share of Rs 5 each for the financial year ended 31St March, 2019.
Punjab National Bank posts fourth quarterly results
1: 55 pm
On consolidated basis, the bank reported net loss of Rs 9570.11 cr this year ended March 31, compared to last year's Rs 12,113.36 cr. Net loss for the March quarter FY19, stood at Rs Rs 4750 cr against Rs 13417 cr in th ecorresponding quarter last year.
Total capital employed this fiscal increased to Rs 45197.51 cr, as compared to Rs 41517.30 cr employed last financial year. Domestic reveune generated, on a yearly basis, stood at Rs 57433.98 cr this year, compared to Rs 55,236.47 cr from last year.
Reserves & Surplus, as per balance sheet of the bank, was Rs 43866.31 cr as on March 31, 2019, against Rs 40522.19 cr recorded in the corresponding month last fiscal year. On an yearly basis, it stood at Rs 44276.70 cr against Rs 40965.19 cr recorded in the last fiscal.
Net NPAs for the March quarter stood at Rs 30037.66 cr against December quarter's Rs 35675.12 cr. It was recorded at Rs 48684.29 cr in the March quarter last fiscal.
Market Update
1: 35 pm
Sensex and Nifty have rallied over the last few sessions over Modi's return for a second term, however, were largely unchanged on Tuesday in thin trade, as investors waited on the sidelines for cues before making fresh bets.
Currently, Sensex is trading down by 16 points at 39,666, whereas Nifty is at 11.919.50 level, trading down by 5 points. Nifty has 23 stocks are declining out of 50, whereas Sensex has 15 out of 30 stocks trading in the red.
"Investors and traders must wait for correction to enter in the market as going forward. Sensex and Nifty may need to consolidate at lower levels. In general, the market is expected to follow global market sentiments for next couple of days. Nifty and Sensex may correct about 5% in next few days. Investors must focus on quality midcaps in infra, financial and banking sectors during any correction in the markets," quoted, Abhijeet Bajpai, Co-founder & CEO at Avighna Trades.
Natco Pharma slips 8% on weak Q4 results, touches new 52-week low of Rs 482.00
1: 20 pm
Natco Pharma stock opened at a loss of 8.16% at Rs 482, also its new 52-week low, after the company submitted poor quarterly earnings.
On Monday, the pharma giant reported a 60% drop in consolidated net profit at Rs 120.4 cr for March quarter as compared to Rs 299.7 cr in the corresponding quarter in the previous year.
Manpasand Beverages share crashes another 20%
1: 05 pm
Manpasand Beverages share price tanked as much as 20 per cent to touch an intra-day low of Rs 70.40 against previous close level of Rs 88 on the Bombay Stock Exchange. The stock had tumbled 20 per cent to Rs 88 per share on Monday.
Bad days for Manpasand: Share debacle continues, crashes another 20%
Sensex and Nifty at high PE ratio
12: 45 pm
Sensex and Nifty are trading at uncomfortably high price to earnings ratio. Generally, one should be cautious while investing in stocks when market's PE valuations are above 22. When they rise above 28, markets are said to be in an overbought and risky zone.
On Monday, PE ratio for Sensex stood at 29.08 and at 29.68 for Nifty, as per data available with the exchanges.
Market looks set for correction as Sensex, Nifty PE ratios enter danger zone
InterGlobe Aviation hits 52-week high today
12: 30 pm
Shares of Indigo rose 3.18% to hit a new 52-week high of Rs 1,716 today, after the company reported a profit of Rs 589.6 crore for the January-March quarter in FY19, compared to Rs 117.6 crore in the corresponding period of FY18 on Monday.
InterGlobe Aviation stock opened with a gain of 2.53%. The stock has been gaining for the last 6 days and has risen 14.91% in the period.
IndiGo cashes in on Jet Airways crisis to increase Q4 profit to Rs 590 crore
Market Update
12: 05 pm
S&P Sensex is trading down by 72.60 points at 39,610.69, whereas Nifty is at 11.902.40 level, trading up down by 22.35 points. Nifty has 23 stocks are declining out of 50, whereas Sensex has 15 out of 30 stocks trading in the red.
Dilip Buildcon executes EPC agreement with NHAI for a UP highway project of Rs 670.5 cr
12: 00 pm
Dilip Biuldcon has executed the EPC Agreement with the National Highways Authority of India (NHAI) for Varanasi-Dagamagpur (Pkg-1) Section of NH-7 on EPC Mode in the State of Uttar Pradesh valued at Rs 670.50 cr.
Gateway Distriparks among top gainers on Nifty after promoter increases stake to 1.84%
11: 30 am
Gateway Distriparks has informed the exchanges that it's promoter, Perfect communicatios Pvt Ltd, has increased their stake from 1.66 % voting rights on 1,805,000 shares to 1.84% share capital with 2,005,000 shares in the company by acquiring/purchasing 200,000 shares worth 0.18% share capital/voting rights on May 24, 2019 through Open Market Purchase.
Sectors
11: 15 am
Bank indices and Financial Service are biggest losers in today's trade, declining over 1%, followed by Auto, Infra and FMCG. On the other hand, IT, Media and Metal are among the most gaining indices of the day, each gaining over 1%, followed by Energy, Pharma and Realty indices.
Reliance Capital exercises the "Green-Shoe" option, sells 8% stake through OFS on Reliance Nippon Life Asset Management Ltd (RNAM)
11: 00 am
Reliance Capital had announced an Offer for Sale of its shareholding in RNAM in order to comply with the mandatory requirement of achieving Minimum Public Shareholding of 25% by reducing the promoter stake.
"The entire RNAM stake monetization proceeds of Rs. 6,000 crore will be utilised to reduce Reliance Capital's outstanding debt." The filing added, "Reliance Capital expects to reduce its debt by at least Rs. 12,000 crore (US$ 1.7 billion), or 70%, in the current financial year."
Shares of Reliance Capital touched an intraday high of Rs 138.70 (3.74%), and currenly trades 3.2% up at Rs 138.
On the contrary, shares of RNAM has been losing for the last 3 days and has fallen 4.79% in the period. The stock currently trades at Rs22.40, down by 0.18%.
52-week high/low
10: 50 am
L&T, Axis Bank, Interglobe Aviation, Seimens, ABB India, ACC are the stocks that have hit 52-week high in today's trade.
Nacto Pharma and Eris Lifesciences are the two stocks that hit their 52-week low today.
Gainers and Losers
10: 35 am
Deepak Fertilisers, NHPC, Gateway Distriparks, Relaince Power and Time Technoplast are among the top gainers on BSE, whereas Manpasand Beverages, Reliance Communications, Bharti infratel, Max Financial Sevies and Dilip Buildcon are among the top losers on BSE.
YES Bank, Vedanta, TCS, Coal India and Adnai Ports are the major gainers on NSE, while Bharti Infratel, Grasim, L&T, SBIN and HDFC are trading as the top losers.
Market Update
10: 25 am
Sensex is trading down by 88 points at 39,594, with 16 components trading in the red, while Nifty is down 29 points at 11,895.60 level, with 26 declines out of 50 stocks.
Results today
10: 15 am
Punjab National Bank, Sun Pharma, SpiceJet, Adani Transmission, IRB Infrastructure, Max Financial Services, NMDC, Pfizer, Shipping Corporation, Shalimar Paints, SML Isuzu are among the 380 companies that are to submit their quarterly earnings report today.
Brent Crude
9: 55 am
Brent crude, the global benchmark, slipped 0.15 per cent to 68.67 per barrel. Oil prices rose more than 1% on Monday, supported by Middle East tensions and OPEC-led supply cuts as well as continued crude disruptions from Russia after a contamination problem discovered last month.
FII and DII
9: 50
Foreign institutional investors bought equities worth Rs 1,215.36 cr on Monday, while domestic institutional investors sold shares to the tune of Rs 327.86 cr, provisional data available with stock exchanges showed.
Market Update
9: 40 am
After opening flat with positive bias, benchmark equity indices Sensex and Nifty turned flat with negative bias, on account of global cues. While Sensex is down by 32 points at 39,651, Nifty is trading at 11,910, down by 14 points.
Gainers
9: 30 am
Yes Bank, Gail India, Adani Port, Zee Entertainment, Coal India, Asian Paints, SBI and Kotak Mahindra Bank are among the top gainers of the morning session, while Emami, HPCL and IOC are the among the major losers.
Opening Bell
9: 20 am
The benchmark BSE Sensex advanced over 100 points in early trade on Tuesday amid positive domestic and global cues and unabated foreign fund inflow. The 30-share index was trading 98.04 points, or 0.25 per cent, higher at 39,781.33. Similarly, the broader NSE Nifty rose 24.75 points, or 0.21 per cent, to 11,949.50.
Indian Rupee
9: 05 am
On the currency front, the Indian Rupee opened weaker against Monday's close and depreciated 21 paise to 69.72 against the US dollar.
Global update
9: 00 am
Markets are expected to open flat on account of global cues. SGX Nifty is flat to negative in the Singapore Exchange. US Futures is up 59 pts or 0.2%. US market were closed yesterday on account of Memorial Day.
Asian shares edged up on Tuesday lifted by gains in China and as auto firms climbed on merger news, but broad uncertainties over trade and economic growth kept a lid on gains.
Monday's Closing
8: 55 am
In the previous session on Monday , the BSE gauge ended 248.57 points or 0.63 per cent higher at 39,683.29 -- a new closing high for the index. While, the broader Nifty gained 80.65 points or 0.68 per cent to settle at 11,924.75 -- a fresh closing peak for the NSE barometer.