Sensex, Nifty Updates: Benchmarks Sensex and Nifty closed 1.3% lower on Monday as investors were concerned globally over the mounting Covid-19 cases and spike in crude prices. Tracking losses from Asain equities, the 30-share BSE Sensex closed 469 points lower at 30,690 and 50-share barometer NSE Nifty ended 118 points to 8,993.
All the indices in Asian counterparts were trading in red, with Nikkei and Kospi dropping the most after the OPEC+ decided to cut 20% global supply of oil to curb fall in price amid virus outbreak. Last Thursday, the 30-share BSE Sensex closed 1,265 points higher at 31,159 and 50-share barometer NSE Nifty ended 363 points higher at 9,111.
There 18.53 lakh confirmed cases worldwide and almost 1.14 lakh deaths from the coronavirus COVID-19 outbreak. India has recorded a total of 9,152 cases, 308 deaths after 35 new fatalities were reported and 764 recoveries. In the last one week, cases confirmed in India have doubled to 9,000 mark, while total cases increased by 909 in last 24 hours.
In the meawnhile, PM Modi will be addressing the nation at 10 am tomorrow i.e. April 14 over the virus outbreak. Most states requested the Prime Minister to extend the lockdown for 2 more weeks.
Here's a look at the updates of the market action on BSE and NSE today:
Closing bell
3: 55 PM
Benchmarks Sensex and Nifty closed 1.3% lower on Monday as investors were concerned globally over the mounting Covid-19 cases and spike in crude prices. Tracking losses from Asain equities, the 30-share BSE Sensex closed 469 points lower at 30,690 and 50-share barometer NSE Nifty ended 118 points to 8,993.
In the meawnhile, PM Modi will be addressing the nation at 10 am tomorrow i.e. April 14 over the virus outbreak. Most states requested the Prime Minister to extend the lockdown for 2 more weeks.
SBI Cards drops to all time low
3: 30 PM
Shares of SBI Cards and Payment Services fell 15% intraday on Monday to hit a new all-time low following reports of lockdown extension beyond the pre-decided period of 24 March to April 14, 2020. The stock price of SBI Cards has traded in a wide range of Rs 79.45, with an intraday volatility of 10.83%. SBI Cards is trading lower than 5, 20, 50, 100 and 200-day moving averages. SBI Cards share price has fallen 14% in the last one week.
SBI Cards shares slip over 15%, hits new low of Rs 501
Rupee ends at 76.27
3: 15 PM
Rupee ends almost flat, gaining 2 paise to 76.27 mark per dollar compared to yesterday's close of 76.29 per US dollar.
Bandhan bank shares drop almost 10%
3: 10 PM
Bandhan Bank shares on Monday fell 9.7% to hit an intraday low of Rs 173 on BSE after the comoany said its total deposits grew by 32% to Rs 50,073 crore during the fiscal ended March 2020. The bank had total deposits of Rs 43,232 crore as at end of March 2019.The retail deposits formed bulk of the total deposits at 78.4 per cent, which showed an increase of 34 per cent to Rs 44,760 crore as on March 31, 2020, Bandhan Bank said in a regulatory filing.
Alert
3:00 PM
PM Modi will be addressing the nation at 10 am tomorrow i.e. April 14 over the virus outbreak.
Tata Steel drops over 3%
2: 55 PM
Tata Steel share price fell 3.5% to the day's low of Rs 17.25 on BSE today after brokergae firm India Ratings revised company's outlook to 'Negative' from 'Stable'.
Maruti drops almost 6%
2:40 PM
Share price of Maruti Suzuki India (MSI) skidded 6% intra day after Kotak Institutional Equities maintained sell call and cut target its price to Rs 4,900 from Rs 5,800 per share.
Maruti Suzuki India share fell 5.94% to Rs 4,999 compared to previous close of Rs 5,315 on BSE.
The large cap stock has fallen after three consecutive days of gain. It has lost 30.32% in last one year and fallen 30.65% since the beginning of this year. Its market cap fell to Rs 1.55 lakh crore on BSE.
Maruti Suzuki share price falls 6% after Kotak Equities cuts target price
Godrej Consumer Products drops 8.75%
2: 25 PM
Shares of Godrej Consumer Products fell 8.75 % to hit the day's low of Rs 543.05 as the company said it expected revenue decline in March quarter.
The filing said, "We will report around high teens revenue decline in the quarter. We did see low double digit sales decline in the performance of our distributors, implying that their stock levels are getting depleted. We are awaiting data on the stock levels on general trade shelves."
"In India, demand was steady till the outbreak of Coronavirus and slumped due to disruption of both back end and front end supply chain in the last twelve days of March," it added.
"We had witnessed steady demand in our categories till mid March 2020. However, with the adherence to social distancing norms and the eventual lockdown in many geographies of our operations resulted in virtually no sales in the later part of March, significantly impacting our sales performance in the quarter," it said in a stock exchange filing on Thursday.
Bjaj Finance drops 10%
2:15 PM
Bajaj Finance was the top laggard in the Sensex pack, falling 11.03% to hit the day's lo of Rs 2,269.3 on BSE. The stock has traded in a wide range of Rs 260.7. Bajaj Finance stock has fallen after 3 days of consecutive gain.
ZEEL drops over 14%
2:00 PM
Shares of Zee Entertainment Enterprises Ltd (ZEEL) opened 2% lower and later dropped 14% intraday to the low of Rs 128 on BSE. The fall in share price comes after the media major announced investment worth Rs 522 crore in its tech subsidiary Margo Networks.
Zee Entertainment share slips 14% on Rs 522-crore investment in tech arm
Market declines further
1:45 PM
Benchmarks Sensex and Nifty traded on a bearish note on Monday, as weak cues from global markets amid concerns over mounting Covid-19 cases and spike in crude prices weakened investor sentiment. Tracking losses in index-heavyweights Reliance Industries, HDFC twins and ICICI Bank, the 30-share BSE Sensex slid 550 points lower at 30,633 and 50-share barometer NSE Nifty fell 140 points to 8,970.
Angel Broking's outlook
1: 35 PM
As per Angel Broking's Outlook, "One must not forget that the recent crisis is related to 'Health' and hence, it would be important to see further developments with respect to coronavirus. Traders are advised to keep following stock centric approach and should keep booking timely profits on a regular basis, the brokerage added.
Stock picks for the day by Brokerage:
Buy - Hawkins Cooker, Asian Paints, Bata India, Nestle India, Hindustan Unilever, Colgate Palmolive, Ipca Lab
Accumulate - Avenue Supermart, P&G Hygiene, Bharti Airtel
FII/ DII action on Thursday
1: 25 PM
FIIs were net buyers in the cash market segment to the tune of Rs 1,737 cr, while DIIs sold 466.02 crore in equities on Thursday.
Sectors in red
1: 15 PM
Nifty Pharma was up 3%, while Metal rose 1%. Realty was falling the most at 5%, followed by 3.5% decline in media, auto sectors. Banking indices dropped pver 2% each followed 1% decline in FMCG.
Bharat Dynamics in the green after Q4 updates
1:00 PM
Bharat Dynamics climbed 8% in early trade today after the company said it has recorded a turnover of Rs 3,095 cr for the financial year ended on March 31, 2020. The order book of the company as on 01/04/2020 stands at Rs 7,413 cr received during the quarter ended 31 March 2020, the filing added.
ONGC drops almost 6%
12:50 PM
ONGC shares traded among the top losers today, falling 5.95% on Both the bourses after the company announced that it has terminated contract with Dolphin Offshore Enterprises India.
As per the filing, the balance portion of the above contract to be completed will be around Rs 222.32 cr. ONGC had also invoked four PBGs amounting to Rs36.63 cr given in connection with the above contract.
The company is of the opinion that the above termination of contract and invocation of PBGs are illegal and therefore, appropriate legal action will be initiated against ONGC as per the provision of the contract, the filing added.
ONGC shares fell almost 6% to the intraday low of Rs 72.7, against the last closing vlaue of Rs 77.30.
Market closed tomorrow
12: 30 PM
Stock market exchanges BSE and NSE will be closed tomorrow i.e. April 14, 2020, on account of Dr Baba Saheb Ambedkar Jayanti.
Gold outlook
12: 20 PM
Gold's near term outlook by Hareesh V, Head Commodity Research at Geojit Financial Services.
-Large scale quantitative easing measures taken by various central banks have lifted gold higher.
-Investors' demand for safe havens due to fears of a global recession amid the negative economic impact of COVID 19 will also support the yellow metal.
-At the same time, moderate physical activities and a strong dollar may limit major gains.
Technical Outlook (London spot)
-Bullish momentum may continue as long as prices stay above $1642.
-Intraday resistance is seen at $1695, a direct break above the same would lift prices higher to $1705 or even more towards $1740 levels.
-Immediate downside turnaround point is seen at $1620.
Gold slips marginally
12: 15 PM
Spot gold prices fell on Monday's trading session as investors booked profits after prices hit a one-month high last week. Spot gold on London Spot Exchage slipped 0.4% to $1,681.49 per ounce while US gold futures fell 1.4% to $1,728.40.
Coronavirus impact: Gold plunges on COVID-19 fears, profit-booking
HDFC rises 3%
12:05 PM
The share price of HDFC rose over 3% in the early trade on Monday after China's central bank People's Bank Of China bought 1.01% stake in company's shareholding.
HDFC share price rises 4% after People's Bank of China raises stake
Rupee falls 15 paise to 76.4
12:00 PM
Indian rupee, opened weak at the interbank foreign exchange on Monday and fell 15 paise to 76.43 against the US dollar, tracking weakness from domestic equity indices amid sharp rise in coronavirus cases in the country. "Risk appetite remained weak as coronavirus fresh cases and death toll rose in the United States and back in India," Reliance Securities said in a research note.
Rupee vs Dollar: Rupee falls 15 paise to 76.43 amid weakness in equity market
Tata Communications rises almost 10%
11: 50 AM
Tata Communications' share price opened with a gain of 7.42% today and later touched an intraday high of Rs 314.7, rising 9.4% on BSE after the company said that the board plans to raise up to Rs 650 cr through NCDs on April 15,2020. Tata Communications' stock price trades higher than 5 and 20 day moving averages but lower than 50, 100 and 200-day moving averages. The stock has risen 32% in one week and 25% in one month.
Amrutanjan Health Care climbs over 9%
11: 40 AM
Amrutanjan Health Care shares opened with a gain of 8% today and later touched an intraday high of Rs 409.7, rising 9.27% on BSE. This comes after the company said it strongly believe that its zero debt and cash reserves built diligently over time will help us come out of this pandemic with a position of strength. Also, its lower priced SKUs like Rs 2 balm and Rs 22 Sanitary Napkin will see greater acceptance as people value them during these taxing times.
Avenue Supermarts drops 5%
11: 30 AM
Avenue Supermarts share hit lower circuit of 5% in early trade today after owner of retail store chain D-Mart said operations of half of its stores were closed, following the directions issued by authorities amid the lockdown.
Company said nearly 50% of its stores remain closed for operations and that it continues to sell daily use essential items such as grocery and FMCG products. Overall, significantly lower than usual footfalls, the filing added. Share price of Avenue Supermarts was stuck in the lower circuit of 5% or loss of Rs 120 at Rs 2287.90 compared to the previous close of Rs 2408 on BSE.
Avenue Supermarts share hits 5% lower circuit after half of D-Mart stores shut down
Pharma stocks outperform
11: 15 AM
Pharma stocks continued to move higher despite today's broader bearish session, with Cipla (2%), Biocon (4.5%), DRL (6%), FDC (2.37%) hitting their respective 52-week highs.
Sector-wise, Nifty pharma index remained in positive territory, settling 3.5% higher, in line with gains in auto and FMCG sector. In the last one month, the pharma sector has risen over 13%, followed by 3.2% rise in FMCG. Nifty Pharma has risen 10.87% since the beginning of 2020.
Jimeet Modi said that the pharma sector was trending last week as the government approved partial export of two key drugs to fight novel coronavirus. Taking cues, the pharma index was up 35 % during the week. As this sector remained undervalued for the longest period of time, this week's rally has brought the index to comparatively fair valuations.
He added, "However, investors should not jump the gun and should stay away from this space for now as pharma is a crowded trade and situations can change very quickly depending on the US FDA approvals or if a foreign player starts manufacturing the same drug.
Losers and gainers
11: 00 AM
Zee Ent, Bajaj Finance, Titan, ONGC, Bajaj Finserv were among the top losers on NSE Nifty. On the other hand, Cipla, Sun Pharma, Dr Reddy, L&T and UPL were the top gainers on Nifty today.
Indices' trend
10: 50 AM
Sensex and Nifty have fallen 1.45% in one day, 9.82% in last one month and 26% since the start of the year. Contrary to this, the indices have gained over 11% in the last week's trade.
Sensex, Nifty gained 11%: 10 factors that moved the market this week
Zee Entertainment slides 10% on Rs 522 crore investment in tech arm
10: 40 AM
Shares of Zee Entertainment Enterprises Ltd (ZEEL) were the top losers on NSE Nifty, dropping over 10% on Monday's early trade. The fall in share price comes after the media major announced investment worth Rs 522 crore in its tech subsidiary Margo Networks. Margo Networks, which ZEEL owns by 80% shareholding, offers streaming and advertising services under the 'SugarBox' brand name.
Indices rise from day's low
10: 35 AM
Reversing from day's low, the 30-share BSE Sensex was falling 300 points lower to 30,855 and 50-share barometer NSE Nifty declined 90 points to 9,021.
Rupee opens lower
10: 20 AM
Rupee slips 8 paise to 76.36 against US dollar in early trade.
Coronavirus update in India
10: 10 AM
The death toll due to the novel coronavirus pandemic rose to 308 on Monday after 35 new fatalities were reported, while the number of cases climbed to 9,152, according to the Union Health Ministry.
Sensex pack losers/ gainers
10: 00 AM
Bajaj Finance was the top laggard in the Sensex pack, shedding up to 8 per cent, followed by Mahindra and Mahindra, Maruti, ONGC, Titan and Bajaj Auto.On the other hand, Bharti Airtel, L&T, Infosys and NTPC were the gainers.
Market falls further
9: 50 AM
Amid weak cues from global markets, the 30-share BSE Sensex slid 650 points lower at 30,511 and 50-share barometer NSE Nifty fell 187 points to 8,924.Asian counterparts turn red
9: 40 PM
Asian stocks decline in trade on Monday with investors cautious on news of an international 'historic" output cut deal to cut production by nearly 10 million barrels per day from May to prop up prices hammered by the coronavirus crisis and a Russia-Saudi price war, sending crude prices soaring over 3%. Tokyo was down 0.8 % in early trade, while Shanghai fell 0.2% and Singapore fell 0.1%. Hong Kong, Sydney and Wellington were closed for a public holiday.
Market falls further
9: 30 AM
Extending decline on Monday, the 30-share BSE Sensex slid 552 points lower at 30,607 and 50-share barometer NSE Nifty fell 169 points to 8,942.
Opening bell
9: 15 AM
Benchmarks Sensex and Nifty opened on a bearish note on Monday, backed by weak global cues. Reversing trend to negative, the 30-share BSE Sensex opened 200 points lower at 30,971 and 50-share barometer NSE Nifty fell 16 points to 9,095.
All the indices in Asian counterparts turned red, with Nikkei and Kospi dropping the most after the OPEC+ decided to cut 20% global supply of oil to curb fall in price amid virus outbreak.
Global cues, Asian counterparts turn red
8: 55 AM
Wall Street stocks rose as US Federal Reserve unleashed its latest package worth $2.3 trillion to slow the coronavirus outbreak. The Dow Jones Industrial Average rose 0.82%, the S&P 500 gained 0.92% and the Nasdaq Composite added 0.15%.
Asian shares were poised to track Wall Street's gains on hopes the coronavirus pandemic is nearing a peak and that governments would roll out more stimulus measures. Although the market turned red in Asia post the OPEC+ at its meet decided to cut 20% global supply of oil to curb fall in price amid virus outbreak.
All the indices in Asian counterparts turned red, with Nikkei and Kospi dropping the most. Overall, the MSCI Asia ex-Japan index traded flat, with negative bias. Markets in Hong Kong and Australia are closed today for Easter Monday.
European stock markets gained for a fourth straight day and rose nearly 2% each on hopes that the pandemic was close to peaking. Investors globally turned optimistic over prospects of slowing pace of fresh COVID-19 cases amid the tightened lockdowns across the world by governments.
Although the EU's disease monitoring agency said that the pandemic is still infecting and killing large numbers of people across Europe and there is still no sign that the peak of the region's outbreak has been reached.
Oil climbs $1.50 post OPEC output cut deal
8: 45 AM
OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic. Brent crude futures rose $1.23, or 3.9%, to $32.71 a barrel after opening at a session high of $33.99.
OPEC+, said it had agreed to reduce output by 9.7 million barrels per day (bpd) for May and June, after four days of talks and following pressure from U.S. President Donald Trump to arrest the price decline.
OPEC+ said they had unprecedented deal with fellow oil nations, including the United States, to curb global oil supply by 20%.
Oil prices surged in early trade ahead of a crucial meeting of oil-producing countries and climbed 1.50$ to USD 32.98 per barrel
Oil prices climb $1 per barrel as OPEC, allied producers agree on output cut
Coronavirus update in India
8: 35 AM
India has recorded a total of 8,447 cases, 7,409 active cases, 273 deaths and 764 recoveries. In the last one week, cases confirmed in India have doubled to 8,447 mark, while total cases increased by 909 in last 24 hours. Most states requested the Prime Minister to extend the lockdown for 2 more weeks.
Market Expectations
8: 30 AM
Benchmarks Sensex and Nifty are likely to open on a muted note on Monday, backed by mixed global cues. SGX Nifty traded 50 points lower at 9,054 level, indicating a tepid start in domestic grounds today.
Stocks to watch today on April 13
8: 25 AM
HDFC, TCS, Avenue Supermarts, ONGC among others are the top stocks to watch out for in Monday trading session
Stocks in news: HDFC, TCS, Avenue Supermarts, ONGC and more
Coronavirus global toll
8: 20 AM
There 18.53 lakh confirmed cases worldwide and almost 1.14 lakh deaths from the coronavirus COVID-19 outbreak.
Global cues
8: 10 AM
Globally indices turned green over prospects of more government stimulus amid tightened lockdowns across the world to combat the virus spread. Investors worldwide were optimistic over slowing of new virus cases, with death toll in countries considered corona hotspots also signalling signs of slowing down.
Last Closing
8:00 AM
Last Thursday, the 30-share BSE Sensex closed 1,265 points higher at 31,159 and 50-share barometer NSE Nifty ended 363 points higher at 9,111.
Share Market Update: Sensex ends 1,265 points higher, Nifty at 9,111; auto stocks top gainers