Sensex, Nifty Updates: Benchmark Sensex and Nifty erased early losses and closed flat with negative bias on Friday, inline with overseas trend, as investors anticipated positive measures in the 3rd tranche of announcements for the economic relief package. Sensex closed 25 points lower to 31,097, while Nifty ended 5 points lower at 9,136. Companies set to announce their earnings are Cipla, Crompton Greaves, L&T Technology Services, Mahindra & Mahindra Financial Services. Globally, markets turned green, with European indices reversing trend to green territory. In Asian counterparts, Nikkei, Kospi, SGX Nifty, Strait Times and Taiwan were trading in green, while Hang Seng and Shanghai traded in red. On Thursday, Sensex closed 885 points lower at 31,122 and Nifty fell by 240 points lower at 9,142.
Here's a look at the updates of the market action on BSE and NSE today
3.55PM: Closing bell
Benchmark Sensex and Nifty erased early losses and closed flat with negative bias on Friday, inline with overseas trend, as investors anticipated positive measures in the 3rd tranche of announcements for the economic relief package. Sensex closed 25 points lower to 31,097, while Nifty ended 5 points lower at 9,136.
3. 35PM: Companies to report results today
Aarti Drugs shares climbed 4% intraday, Tata chemicals rose marginally higher, ahead of results today. On the contrary, Cipla shares were falling by 1%, followed by Crompton Greaves Consumer, M&M finance that were trading marginally lower, ahead of reporting March quarterly results, later today.
3.23 PM: Rupee ends unchanged at 75.56 per dollar
Rupee ended unchanged at 75.56 per US dollar today, as forex traders awaited cues from the 3rd tranche of announcements on the economic stilumus package worth Rs 20 lakh crore, by the governement.
3.17 PM: Mahindra EPC Irrigation share surge 20% post earnings
Mahindra EPC Irrigation share price opened with a gain of 8.25% and later touched an intraday high of Rs 135.2, rising 19.96% on BSE after the company posted Q4 results.
The company reported 79% rise (YoY) in consolidated net profit to Rs 9.57 crore during the quarter ended March 31, 2020, as against profit of Rs 5.32 crore, recorded in a year-ago period. Total income rose 11.6% (YoY) to Rs 83 crore in the January-March quarter of the current fiscal as compared to Rs 74 crore in the same period last financial year.
3.11 PM: Airline stocks rise
Airline stocks were rising higher in trade today on hopes of relief package from the government. Where SpiceJet shares climbed 4.94% intarday, IndiGo rose 2.48% after recoevering from their earlier declines.
3.00 PM: Global markets turn positive
Globally, markets turned green, with European indices reversing trend to green territory. In Asian counterparts, Nikkei, Kospi, SGX Nifty, Strait Times and Taiwan were trading in green, while Hang Seng and Shanghai traded in red.
2. 45PM: Market erases early losses
Benchmark Sensex and Nifty erased early losses and turned muted by the afternoon session, following positive opening in European markets. Sensex on Friday fell 25 points lower to 31,095, while Nifty traded 10 points lower at 9,132.
2.35 PM: AAVAS Financiers share price gains 4.2% post Q4 results
AAVAS Financier share price opened with a gain of 2.49% and kater touched an intraday high of Rs 1017, rising 4.23% on BSE after the company reported its March quarterly numbers.
The company reported 9.9% rise (YoY) in consolidated net profit to Rs 59 crore during the quarter ended March 31, 2020, as against Rs 54 crore, recorded in a year-ago period. Total income climbed 14% (YoY) to Rs 235 crore in the January-March quarter of the current fiscal as compared to Rs 205 crore in the same period last financial year.
2.08 PM: Unichem Labs share price rises 9.6%
Unichem Labs share price opened with a gain of 7.26% and later climbed 9.6% intraday to Rs 139.7 on BSE after the company reported its quarterly results. The company has received an Establishment Inspection Report from USFDA for API unit at Roha.
1.43 PM: Ircon International share price rises over 3%
Ircon International share price opened with a gain of 2.04% today and later climbed 3.32% to the intraday high of Rs 88.7 on BSE. The company has signed a MoU with RZD International LLC, a subsidiary of state-owned Russian Railways to explore opportunities for joint development of railways and other infrastructure projects in Asia, Africa and Latin America.
1.33 PM: PVR, Inox hit 52-week lows
Multiplexes stocks PVR and Inox Leisure hit their respective lows on Friday's trade, as the businessed continues to struggle under the virus induced lockdown.
Where PVR stock fell 3.17% lower to Rs 859, Inox Leisure fell 3.55% lower to Rs 194 today.
Multiplexes stocks are badly hit from the Covid-19 idnuced lockdown as threatre halls were the first to be shut and could be the last to be opened after the end of current shutdown. Brokergaes also expect recovery to be slow and occupancy levels to be lower, post the restriction ease as well.
1.26 PM: Tata Motors shares fall 1%
Tata Motors share price fell 1% to the day's low of Rs 82.90 on BSE after the compay said the borad plans to consider raising up to Rs 1000 crore from Non convertible Cebentures on 20 May, 2020.
1.18 PM: Indigo recovers from losses, trades higher
InterGlobe Aviation share price earlier fell 3.17% to Rs 941.1 on BSE. Later, shares recovered from losses and traded 1.24% higher at 984. On National Stock Exchange, Indigo shares were quoting Rs 983, rising 1.16% or 11.25 points higher.
1.07 PM: Market Update
Benchmark Sensex and Nifty fell on Friday's trade, led by heavy sell off in index heavyweights HDFC Bank, ICICI Bank and Reliance Industries amid weak domestic investor sentiment. In domestic grounds, investors kept trades cautiously amid the spiking number of COVID-19 cases. Uncertainty over the effectiveness of the fiscal stimulus package also kept local sentiments negative. Extending decline for the second consecutive session, Sensex on Friday fell 250 points lower to 30,853, while Nifty traded 69 points lower at 9,073.
12.42 PM: Escorts share price gains 2.23% post Q4 results
Escorts share price opened with a gain of 2.23% today and later touched an intraday high of Rs 823.25, falling 3.64% on BSE today as the company reported better than expected March quarterly results yesterday, post market hours.
The company reported 9.6% rise (YoY) in consolidated net profit to Rs 127 crore during the quarter ended March 31, 2020, as against Rs 116 crore, recorded in a year-ago period. Total income fell 16% (YoY) to Rs 1385 crore in the January-March quarter of the current fiscal as compared to Rs 1649 crore in the same period last financial year.
12.23 PM: Tata Consumer Products share price falls over 2% post Q4 results
Tata Consumer Products share price opened with a loss of 2.16% today and later touched an intraday low of Rs 353, falling 2.71 on BSEa fter the company reporte its Q4 results.
The company reported loss of Rs 72 crore (YoY) during the quarter ended March 31, 2020, as against Rs 57 crore, recorded in a year-ago period.
Total income rose 35.5% (YoY) to Rs 2405 crore in the January-March quarter of the current fiscal as compared to Rs 1775 crore in the same period last financial year. Company board has also recommended a final dividend of Rs 2.70 per share.
12.07 PM: Manappuram Finance shares rise over 7% post Q4 earnings
Manappuram Finance share price gained over 7% on Friday after the company reported better than expected March quarterly results yesterday, post market hours.
The company reported 44% rise (YoY) in consolidated net profit to Rs 398 crore during the quarter ended March 31, 2020, as against Rs 277.39 crore, recorded in a year-ago period. Total income of the non-banking financial company (NBFC) rose 38% (YoY) to Rs 1,618 crore in the January-March quarter of the current fiscal as compared to Rs 1,166.51 crore in the same period last financial year.
Manappuram Finance share price rises over 7% on strong Q4 earnings
11.45 AM: Rupee trades in narrow range
Rupee the local unit rose marginally by 6 paise to 75.50 against the US dollar in early trade on Friday. Rupee was trading in a narrow range as investors awaited fresh cues from the 3rd tranche of announcements on the fiscal stimulus package.
Appreciation in Rupee will be capped due to weak financial markets and stronger US dollar, forex experts said.
Rupee vs Dollar: Rupee rises 6 paise to 75.50 per dollar ahead of announcements on fiscal stimulus
11.30 AM: Biocon falls post Q4 earnings
Biocon share price fell in early trade today after the firm reported a 42 per cent decline in its Q4 net profit. Share price of Biocon lost up to 4.29% to Rs 320.9 against previous close of Rs 335.30 on BSE. The stock touched an intraday low of Rs 320.9 down 4.29%
Biocon share price falls over 4% as coronavirus hits Q4 earnings
11.15 AM Nifty's technical outlook
As per Geojit Financial, Nifty remained glued to 9170 mark yesterday, bringing within sight of the 8960 level which is the downside range for the week. A test or break of the same is in line, but favoured view places low expectations on a directional downside, and instead bets on Nifty idling along a new range of 8890-9291.
11.07 AM: Gold rises today
Gold price rose to trade near a breakout zone as investors moved their money to safe haven assets guided by economic weakness and weakening US-China trade relations. Gold was trading above its two weeks high, up by 0.28% at Rs 46790, after rising 1.46% levels yesterday.
Increase in jobless claim in US and expectation of negative interest rates by federal reserve chairman jerome powell supports the gold prices as safe heaven demand and investment in gold as other aseet class, said Anuj Gupta (DVP-Commodities & Currencies Research, Angel Broking)
He added," We expect Gold may trade positive towards Rs 47200 to 47300 levels. For intraday perspective in intraday, traders can buy Gold around Rs 46500 to 46600 levels, with the stoploss of Rs 46250 levels and for the target of Rs 47300 to 47400 levels. In international Market Gold can test $1750 to $1760 levels."
10.56 AM: Rupee opens higher today
Rupee rises 5 paise to 75.51 against US dollar on Friday as compared to its earlier closing of 75.56 per dollar.
10.40 AM: Oil rises today
Oil prices moved up on Friday's trade internationally, as IEA forecasted lower global stockpiles in H2 2020 when worries over resurgence of coronavirus in some countries remain. Brent crude futures, the International oil benchmark were trading 1.47% higher at USD 31.59 per barrel.
10. 32 AM: FM Sitharam's announcements over the second tranche of economic package
On Thursday FM Sitharaman announced the second tranche of the coronavirus economic package of Rs 20 lakh crore aimed at migrant workers, small farmers and unorganised sector. Major announcements included 2 per cent interest subvention on Shishu loans up to Rs 50,000, Rs 5,000 crore special credit for street vendors who can avail up to Rs 10,000 per head, Rs 2 lakh crore concessional credit under Kisan Credit Card, Rs 86,600 crore agriculture loan has been availed by farmers in March and April, Rs 30,000 crore additional funding via NABARD.
How effective is Tranche II of FM Sitharaman's economic package?
10.21 AM: Top losers and Gainers
M&M,Maruti, HCL Tech, Hero MotoCorp, Axis Bank, ICICI Bank, ITC and HDFC Bank were among the top gainers on Sensex pack, while ONGC, Tata Steel, Bharti Airtel, Titan and HDFC were among the gainers today.
10.09 AM: Market falls further
Benchmark Sensex and Nifty fell on Friday's trade, led by heavy sell off in index heavyweights HDFC Bank, ICICI Bank and Reliance Industries amid weak domestic investor sentiment. Sensex fell 250 points lower to 30,853, while Nifty traded 69points lower at 9,073.
9.58 AM: Global market turn positive
Asian markets followed Wall Street closing and traded in green today as investors banked on hopes of more economic stimulus and turned optimistic about the re-opening of economies from coronavirus lockdowns.
Where Nikkei, Hang Seng, Strait Times and Taiwan were trading in green, SGX Nifty and Kospi traded in red.
US indices closed higher on Thursday over recovery hopes that offset the virus induced fears and remarks by Trump on US-China trade relations. The Dow Jones Industrial Average rose 1.62%, the S&P 500 gained 1.15%, and the Nasdaq Composite rose 0.91%.
9.43 AM: FM Nirmala Sitharaman third media briefing on stimulus likely today
Finance Nirmala Sitharaman is expected to hold a third media briefing on Friday to announce more measures as a part of Rs 20 lakh crore special economic stimulus announced by PM Modi earlier this week. She has already unveiled measures for MSMEs, real estate, individuals, agriculture, discoms, among other vulnerable segments of the economy
9. 31 AM: Trump threatens to cut off the whole relationship with China
Remarks from President Donald Trump regarding US-China trade also kept markets pessimistic. Trump threatened to cut off the whole relationship with China in response to the spread of the novel coronavirus across the world that has killed nearly 300,000 people globally, including over 80,000 in America. "There are many things we could do. We could cut off the whole relationship," Trump told Fox Business News in an interview.
Coronavirus effect: Donald Trump threatens to cut off all ties with China
9.23 AM: Opening bell
Benchmark Sensex and Nifty erased pre open session gains and fell back to red territory by the opening bell on Friday, led by weak global cues. Sensex opened 180 points lower to 30,930, while Nifty traded 53 points lower at 9,098.
9.18 AM: Coronavirus toll
Wordwide, there are 4,525,420 confirmed cases and 303,372 deaths from the coronavirus COVID-19 outbreak as of today.
The total number of COVID-19 cases in India has jumped to 81,997 on Friday, including 51,379 active cases, 27,969 discharged, 1 migrated, and 2,649 deaths.
9. 15 AM: Global cues
Globally market traded in red on Friday, as fears of a second wave of infections overshadowed prospects of re-opening economy. Besides this, remarks from President Donald Trump, threatening to cut off relations with China, also kept markets pessimistic.
9. 10 AM: Stocks to watch today on May 15
Biocon, Tata Consumer, Escorts, Cipla, L&T Tech, M&M Financial, Manappuram Finance among others are the top stocks to watch out for in Friday's trading session
9.00 AM:Pre open session today
Domestic market indices Sensex and Nifty climbed higher today at the pre open session, led by SGX Nifty. Sensex climbed 200 points higher to 31,345, while Nifty rose 52 points higher at 9,195
8. 50 AM: FII/ DII action
On a net basis, FIIs sold Rs 2,152.52 crore while DIIs bought Rs 802.36 crore worth in equities yesterday
8. 40 AM: Rupee Closing
On the currency front, Rupee closed lower at 75.56 per dollar as against the previous close of 75.47 per US dollar
8. 30 AM: Earnings Today
Companies set to announce their earnings are Cipla, Crompton Greaves Consumer Electrical, L&T Technology Services, Mahindra & Mahindra Financial Services. Investors will also be taking cues from the latest released March quarter earnings
8. 20 AM: SGX Nifty trades higher
SGX Nifty traded 25 points higher at 9,142 level, indicating a positive start in domestic grounds today.
8. 00 AM: : Closing bell
On Thursday, Sensex closed 885 points lower at 31,122 and Nifty fell by 240 points lower at 9,142.
Sensex ends 885 points lower as Covid relief package fails to cheer Dalal Street