Sensex, Nifty Updates: Sensex and Nifty gave up early gains and ended on a bearish note on Wednesday, in line with global peers. Reversing to losses, BSE 30-share index Sensex ended 173 points lower to 29,893 and 50-share barometer NSE Nifty closed 43 points lower at 8,748.
European indices opened in red, following bearish trend from US and Asian counterparts, amid the coronavirus led uncertainity. Both FTSE and CAC declined over 1%, followed 0.50% decline in DAX. SGX Nifty was also trading 1% lower, while Dow Jones Futures traded flat.
There 1,431,706 confirmed cases worldwide and almost 82,080 deaths from the coronavirus COVID-19 outbreak. As of Wednesday, the number of infected cases in India has increased to 5,350, with 468 recovered cases. The death toll from coronavirus in India has risen to 160. India recorded nearly 500 new COVID-19 cases on Tuesday.
Here's a look at the updates of the market action on BSE and NSE today:
Closing bell
3: 45 PM
Sensex and Nifty gave up early gains and ended on a bearish note on Wednesday, in line with global peers. European indices opened in red, following bearish trend from US and Asian counterparts, amid the coronavirus led uncertainity. Both FTSE and CAC declined over 1%, followed 0.50% decline in DAX. SGX Nifty was also trading 1% lower, while Dow Jones Futures traded flat. Reversing to losses, BSE 30-share index Sensex ended 173 points lower to 29,893 and 50-share barometer NSE Nifty closed 43 points lower at 8,748.
Market update
3: 20 PM
Market recovered from day's low although turned voaltile and traded bearish by the last hour of Wednesday. BSE 30-share index Sensex fell 160 points lower to 29,904 and 50-share barometer NSE Nifty was trading 48 points lower at 8,744.
Sector turn volatile
3: 20 PM
In terms of sector, gains in media, pharma, FMCG and auto were capped by losses in banking, IT, metal amd realty sectors.
Adani Gas falls almost 4%
2: 45 PM
Adani Gas shares fell over 3.7% on Wednesday to Rs 90.42 on BSE, after the company annoucned reduction of prices for CNG & Domestic PNG effective from April 9
Rupee ends at 76.37 per dollar
2: 30 PM
Rupee ended at record closing low of 76.37 against the US dollar on Wednesday as compared to its previous closing of 75.64 against the US dollar on Tuesday.
Market turns red
2: 20 PM
Benchamrks Sensex and Nifty gave up early gains and turned bearish by afternoon session of Wednesday, in line with global markets. Reversing to losses, BSE 30-share index Sensex fell 250 points lower to 29,836 and 50-share barometer NSE Nifty was trading 84 points lower at 8,708.
Rupee hits record low
2: 10 PM
Rupee the currency benchamrk has fallen 64 paise lower to hit a record low of 76.26 per US dollar today.
Spot Gold slips to $1,644
2: 00 PM
Gold prices eased on Wednesday as the US dollar firmed, while signs of a slowdown in the new coronavirus cases in major hot spots hurt the metal's safe-haven appeal and pushed it further away from a near one-month high hit in the previous session.
Spot gold slipped 0.2 per cent to $1,644.99 per ounce by 0049 GMT, having risen to its highest since March 10 on Tuesday. US gold futures eased 0.7 per cent to $1,671.30.
Coronavirus: Gold prices ease on firm dollar, signs of COVID-19 slowdown
Crude at 24.44 per barrel
1: 50 PM
Benchmark Brent crude traded 1.5% higher at 24.44 per barrel today after settling at about $32 a barrel on Tuesday, about half its level at the end of 2019.
Rupee at record low
1: 40 PM
Rupee the Indian currency has fallen 54 paise or 0.71% to hit a record low of 76.16 per dollar today.
Sectors mostly in green
1: 35 PM
Most sectors were trading in green today, barring IT and realty sector that fell marginally. While Pharma sector was up 4.5% by the afternoon sesssion, Auto and meddia gained almost 2%.
Opec+ oil output cuts depend on US, others joining
1: 20 PM
Saudi Arabia, Russia and allied oil producers will agree to deep cuts to their crude output at talks this week only if the United States and several others join in with curbs to help prop up prices that have been hammered by the coronavirus crisis.
US pushes back on call by OPEC to join big oil output cuts
Indices turn flat
1: 00 PM
Benchamrks Sensex and Nifty gave up early gains and turned flat by afternoon session of Wednesday, in line with global markets. European indices opened in red, following bearish trend from US and Asian counterparts, amid the coronavirus led uncertainity. Both FTSE and CAC declined over 1%, followed 0.50% decline in DAX. SGX Nifty was also trading 1% lower, while Dow Jones Futures traded flat.
Va Tech Wabag rises 5%
12: 45 PM
Share price of Va Tech Wabag hit upper circuit of 5% in early trade today after the firm bagged a 4.5 million Bahraini Dinar (approximately Rs 900-million) order from ministry of works, municipalities affairs and urban planning (MoW) in the Kingdom of Bahrain.
Va Tech Wabag stock hits 5% upper circuit on winning contract in Bahrain
Global cues mixed
12: 30 PM
Domestic markets earse dearly gains amid a global indices-led fall on Wednesday. Overseas, Asian markets turned red again. SGX Nifty fell 0.65%, while Hang Seng and Strait Times fell 1.5%. Meanwhile, Nikkei and Taiwan were gaining 1.5% higher.
Market erases early gains
12:15 PM
Benchamrks Sensex and Nifty gave up early gains although traded bullish on Wednesday, backed by heavy buying witnessed in index heavyweights from pharma and FMCG sectors. Extending gains for the second straight session, BSE 30-share index Sensex was up 150 points higher to 30,224 and 50-share barometer NSE Nifty climbed 61 points higher to 8,852.
Sectors today
11: 55 AM
In terms of sectors, Nifty Bank was the only index tradin inred territory today. While Auto and FMCG index were up 2%, all the other indices gained over 1%.
DCM Shriram gains over 8%
11: 45 AM
DCM Shriram shares climbed over 8% on Wednesday to Rs 228 on BSE, after the company said it will start production at Bharuch plant on Apr 9 at 10% capacity and will gradually increase the capacity in the next few days depending upon market situation. Production at Kotak unit started at 75% capacity, the company added in the regulatory statment submitted to the exchanges today.
Aurobindo Pharma down 4.5%
11: 35 AM
Aurobindo Pharma shares were trading 4.5% lower today and were the only shares trading in Nifty Pharma in red territory. This comes after the a class action suit was filed against some drug manufacturers, including Aurobindo Pharma Ltd. and Emcure Pharmaceuticals, in a U.S. court for allegedly concealing facts about a cancer-causing agent, N- nitrosodimethylamine presence in metformin medicine.
Florida-based law firm MSP Recovery filed the petition on April 3 in the U.S. District Court for the Southern District of Florida on behalf of similarly-situated healthcare insurers to recover payments unlawfully induced by the drug makers- Aurobindo Pharma, Aurolife Pharma, LLC, and Heritage Pharmaceuticals LLC.
Aurobindo Pharma sued in US for hiding facts on cancer-causing agent
Oil prices up ahead of OPEC+ meet
11: 15 AM
Oil prices turned bullish on Wednesday as investors pinned hopes on a Thursday meeting where OPEC members and allied producers will discuss output cuts to shore up prices that have tumbled amid the coronavirus pandemic.
Brent crude was up by 72 cents, or 2.3 per cent, at $32.59 per barrel today after falling 3.6 per cent on Tuesday.
Oil prices up as focus shifts to OPEC, Russia meeting on output cuts
Rupee at 75.85
11: 00 AM
The rupee opened weak at 75.83 at the interbank forex market and then fell further to 75.85, down 21 paise over its last close.
The rupee had settled at 75.64 against the US dollar on Tuesday. Forex traders said rising brent prices and firm US dollar index weighed on the local unit.
Rupee vs dollar: Rupee slips 21 paise to 75.85 against rising American currency
Market update
10: 40 AM
Indian markets, in sync with global benchmarks, turned positive as hopes of falling fatalities due to strict lockdown and random screening measures by the policymakers worldwide, in a move to curb the spread of the pandemic.
Extending gains for the second straight session, BSE 30-share index Sensex rose 930 points higher to 30,994 and 50-share barometer NSE Nifty climbed 272 points higher to 9,065.
Global markets
10: 30 AMOverseas, Asian counterparts recovered from early losses and turned green as investors banked on hopes of more government stimulus and lockdowns to combat the virus spread. Bourses in Shanghai, Hong Kong were in the red, while those in Japan, Singapore and Taiwan were trading on a positive note. Benchmark exchanges on Wall Street ended lower in overnight trade, while European key barometers ended in green.
Rupee opens lower at 75.81
10: 20 AM
Rupee, the Indian currency opened slightly lower on Wednesday at 75.81 per dollar as against Tuesday's close 75.63 against the US dollar.
Pharma stocks at 52-week highs
10: 10 AM
Shares of Granules India (11.15%), Torrent Pharma (9.5%) and Biocon (6.5%) have hit their respective 52-week highs in today's trade.
Market climbs further
10: 00 AM
Extending gains for the second straight session, BSE 30-share index Sensex rose 900 points higher to 30,969 and 50-share barometer NSE Nifty climbed 230 points higher to 9,026.
Indices turn bullish
9: 55 AM
Amid a global indices-led recovery, Sensex and Nifty erased early losses and traded bullish on Wednesday, backed by heavy buying witnessed in index heavyweights from pharma and FMCG sectors. Overseas, Asian counterparts recovered from early losses and turned green as investors banked on hopes of more government stimulus and lockdowns to combat the virus spread. Reversing to bearish trend, BSE 30-share index Sensex rose 570 points higher to 30,683 and 50-share barometer NSE Nifty climbed 170 points higher to 8,965.
Sectors turn green
9: 50 AM
In terms of sectors, banking indices were trading in red, while all the other indices turned green. Pharma rose the most among others at 4.8%, followed 3.5% rise in Auto, and 3% gain in FMCG. Media, metal gained over 2%.
Indices erase early losses, trade muted
9: 40 AM
Benchmarks Sensex and Nifty turned volatile within minutes of opening bell on Wednesday and traded flat with negative bias, backed by weak global cues. Globally indices turned red as investor sentiments remained fragile amid concerns over the impact of coronavirus outbreak on the domestic as well as global economy.
Gainers and losers
9: 30 AM
Cipla, Bharti Airtel, Infratel, GAIL and L&T were among the top gainers today, while Hindalco, Maruti Suzuki, Hero MotoCorp, RIL and Zee Entertainment were among the top losers.Opening bell
9: 20 AM
Benchmarks Sensex and Nifty have opened on a tepid note on Wednesday backed by weak global cues. SGX Nifty traded 135 points lower at 8,726 level, indicating a negative start in domestic grounds today. Reversing to bearish trend, BSE 30-share index Sensex opened 204 points lower at 29,862 and 50-share barometer NSE Nifty started 78 points lower at 8,713.
Global market cues
9: 10 AM
Wall Street stocks turned volatile and fell in red within minutes of closing bell on Tuesday as investors remained risk averse amid the uncertainty surrounding the coronavirus pandemic
Nasdaq closed 0.33% lower. Following the bearish trend, Asian counterparts opened in red, Kospi down 0.8%. SGX Nifty was down 1.7%, Strait Times was down 2%. Nikkie and Taiwan index traded marginally in green later. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.5%.
Pre-open session today
9: 05 AM
Benchmarks Sensex and Nifty have pre-opened on a tepid note on Wednesday backed by weak global cues. SGX Nifty traded 135 points lower at 8,726 level, indicating a negative start in domestic grounds today. Reversing to bearish trend, BSE 30-share index Sensex pre-opened 350 points lower at 29,714 and 50-share barometer NSE Nifty started 103 points higher at 8,688.
Stocks to watch today on April 8
8: 50 AM
Wipro, IRCTC, SBI, HUDCO, Ajanta Soya, Chemfab Alkalis, Gujarat Alkalies and Chemicals among others are the top stocks to watch out for in Wednesday's trading session
Stocks in news: Wipro, IRCTC, SBI, HUDCO and more
States favor lockdown extension
8: 40 AM
The state governments across the country are pushing the Centre for a lockdown extension in the wake of rising COVID-19 cases. Besides identifying containment clusters, several states have also ramped their testing infrastructure and requested the Centre to extend the countrywide lockdown. As per government sources, the states and experts have appealed to the central government to extend the lockdown duration, but, the final decision will taken after assessing the situation in the states.
Coronavirus India Live Updates: Country's tally at 4,312, toll past 120
INDIA CORONAVIRUS TRACKER: BusinessToday.In brings you a daily tracker as coronavirus cases continue to spread. Here is the state-wise data on total cases, fatalities and recoveries in one comprehensive graphic
Market expectations
8: 30 AM
Benchmarks Sensex and Nifty are likely to open on a negative note on Wednesday, backed by weak global cues. SGX Nifty traded 135 points lower at 8,726 level, indicating a negative start in domestic grounds today. Globally indices turned red as investor sentiments remained fragile amid concerns over the impact of coronavirus outbreak on the domestic as well as global economy.
FII/ DII action on Tuesday
8: 20 AM
On a net basis, FIIs bought Rs 741.77 crore & DIIs also bought Rs 422.51 crore in equities on Tuesday.Coronavirus toll
8: 10 AM
There 1,431,706 confirmed cases worldwide and almost 82,080 deaths from the coronavirus COVID-19 outbreak.In India, coronavirus cases continued to rise despite a complete lockdown. India is consecutively reporting biggest single-day jumps in new COVID-19 cases since last Monday. As of Tuesday, the number of infected cases in India has increased to 5,350, with 468 recovered cases. The death toll from coronavirus in India has risen to 160.
Rupee closing
8: 05 AM
Rupee closed 59 paise stronger at 75.63 compared to previous close of 76.22 per dollar on Tuesday.
Closing on Tuesday
8: 00 AM
Benchmarks Sensex and Nifty closed majorly bullish on Tuesday, in line with global peers despite concerns over rising coronavirus cases in the country. Investors worldwide banked upon hopes of slowing coronavirus deaths after Italy, Spain and even US witnessed slowing of new virus cases on Tuesday. Closing near day's high, BSE 30-share index Sensex closed 2,476 points higher at 30,007 and 50-share barometer NSE Nifty ended 708 points higher at 8,792.