Share Market Update: Sensex ends 742 points higher, Nifty at 9,187; Zee Ent, RIL, Asian Paints top performers

Sensex, Nifty Updates on April 22, 2020: Benchmarks Sensex and Nifty closed on a bullish note on Wednesday, followng positive trend from overseas amid heavy buying in index heavyweights like Reliance Industries, Asian Paints, Nestle and Maruti. BSE Sensex closed 742 points higher 31,379 and NSE Nifty ended 205 points higher at 9,187.

In terms of sectors, media stocks were rising the most, with Nifty media climbing 4.55% higher, followed by 2.7% rise in energy and 2% gain in auto scrips. In the meanwhile, PSU Bank and realty sectors declining over 1% each, followed by marginal decline in banking and financial indices.

European indices opened higher today, with FTSE and DAX rising over 1% each, and CAC trading 0.50% higher. Asian counterparts were poised to track bullishness from overseas and traded marginally higher. Where SGX Nifty climbed 2% higher, Kospi, Shanghai index were trading nearly 1% higher, followed flat to positive bias trend in Taiwan and Hang Seng. As per market experts markets opened higher today as investors hoped for announcement of another economic relief package today from PM Modi 's cabinet meet, in the wake of novel coronavirus outbreak.

Here's a look at the updates of the market action on BSE and NSE today:

3.40 PM: Closing bell

Benchmarks Sensex and Nifty closed on a bullish note on Wednesday, followng positive trend from overseas amid heavy buying in index heavyweights like Reliance Industries, Asian Paints, Nestle and Maruti. BSE Sensex closed 742 points higher 31,379 and NSE Nifty ended 205 points higher at 9,187.

3.30 PM: Seshasayee Paper shares rise over 7%

Seshasayee Paper share price touched an intraday high of Rs 137, rising 7.7% on BSE after the company annoucned that rating firm  CARE re-affirmed credit rating on company's long term bank facilities at A+/Positive.

3.20 PM: Crompton Greaves Consumer Electricals gains almost 5%

Crompton Greaves share price opened with a gain of 3.32% and later touched an intraday high of Rs 225.2, rising 4.48% on BSE today.

The company announced yesterday that it has partially resumed operations at Goa and Vadodara plants in a phased manner.

3.10 PM: Rupee ends stronger at 76.67 per dollar

Rupee the local unit, ended stronger at 76.67 per dollar as compared to last closing value of 76.84 against the dollar.

3.00 PM: Market rises further

Benchmarks Sensex and Nifty rose higher on Wednesday, followng bullish trend from overseas amid heavy buying in index heavyweights like Reliance Industries, Asian Paints, Nestle and Maruti. BSE Sensex traded 800 points higher 31,415 and NSE Nifty traded 215 points higher at 9,197.

2.40 PM: Gayatri Projects locks 5% upper circuit

Gayatri Projects share prcie locked at 5% upper circuit today after the company said that construction activity at company's project sites has resumed operation.

2.30 PM Vodafone share price rises 10%

Vodafone stock price rose today after PTI reported that the telecom operator has submitted Rs 1,367 crore to the government towards licence fee and spectrum usage charges payment for March 2020 quarter.

Following the news, Vodafone shares gained nearly 10% to the day's high of Rs 4.05 on BSE.

2.20 PM: MCX Gold rises to Rs 46,114

Gold June Futures on MCX were trading 1.70 % or 77o points higher at Rs 46,096 per 10 gm today, after rising to an intraday high of 46,110 today. Gold futures closed at 45,325 per 10 gm yesterdaty and opened at 45,678 today.

2.10 PM: Sectors today

In terms of sectors, media stocks were rising the most, with Nifty media climbing 4.55% higher, followed by 2.7% rise in energy and 2% gain in auto scrips. In the meanwhile, PSU Bank and realty sectors declining over 1% each, followed by marginal decline in banking and financial indices.

2.00 PM: Punjab & Sind Bank share price drops 6.5%

Punjab & Sind Bank share price dropped 6.5% today to Rs 15.24 on BSE after the company informed the exchanges that rating firm ICRA has downgraded the rating for the bank's Basel III-compliant tier-1 bonds worth Rs 1,000 crore to ICRA A- and maintained negative outlook.

1.50 PM: Shalimar Paints share price gains almost 10%

Shalimar Paints' share price opened with a gain of 8.92% and later touched an intraday high of Rs 69.65, rising 9.94% on BSE today. The company announced that Equity Intelligence India and Assured Fin - Cap Pvt have bought 1.28% stake and 1.84% stake in company during March quarter.

1.30 PM: RIL share price locks upper circuit at 10 % climb

Reliance Indsutries share price rose 10% to lock at upper circuit temporaray at Rs 1,361 on BSE, after the company said that social media giant Facebook will be invesing Rs 43,574 cr, to pick up a stake in company's telcom subsidiary Reliance Jio. Post the deal, Facebook will become the largest minority shareholder in Jio platforms.

1.20 PM: European markets open in green, Asian indices follow trend

European indices opened higher today, with FTSE and DAX rising over 1% each, and CAC trading 0.50% higher. Asian counterparts were poised to track bullishness from overseas and traded marginally higher. Where SGX Nifty climbed 2% higher, Kospi, Shanghai index were trading nearly 1% higher, followed flat to positive bias trend in Taiwan and Hang Seng.

1.10 PM: Sensex, Nifty rise further

Benchmarks Sensex and Nifty rose higher on Wednesday, bucking the weak trend from overseas, as investors anticipated another stimulus from PM Modi's cabinet meet scheduled today. As per market experts, domestic indices rose higher on stock specific action in index heavyweights. Reversing trend from losses, BSE Sensex traded 700 points higher 31,315 and NSE Nifty traded 177 points higher at 9,158.

12.50 PM: Why markets rising in bearish trend

Bucking the weak trend from overseas, domestic equity as well as currency markets rose higher on Wednesday, as investors anticipated another stimulus from PM Modi's cabinet meet scheduled today.

In a positive directional cue for the market, India's cabinet is meeting is scheduled on Wednesday. Prime Minister Narendra Modi will hold a cabinet meet at his residence on Wednesday to take stock of the ongoing situation in the wake of novel coronavirus outbreak. As per reports, investors are hoping for for another economic stimulus and are anticipating that the government will roll out further measures to help fight the pandemic.

12.40 PM: Oil prices continue in red

Oil prices continued to show weakness even though it moved away from the lowest level. Further, the weakness was seen spreading to more futures contracts, suggested experts.

Brent Crude was trading 13.76% lower at 16.6 per barrel today.

12.30 PM: Global markets in red

Asian markets are trading mostly in red tracking overnight fall in US markets as investor sentiment were already negative due to fall in crude.

US markets closed lower near two week lows led by technology stocks after analyst cut price target for Alphabet and Facebook.The collapse in U.oil prices and glum forecasts by companies worsened fears of a deep economic downturn.

European indices closed lower as volatility in oil market. Further coronavirus updates also overshadowed the markets.

12.20 PM: NIIT share price climbs 11%

NIIT share price gained in the early trade today after the company said its wholly owned subsidiary has signed a Managed Services agreement with a US based EdTech company to provide virtual services to education providers. The term of the agreement is 5 years.

NIIT shares, post the announcement opened with a gain of 2.17% today and later touched an intraday high of Rs 89.75, rising 11.21% on BSE.

NIIT stock has traded in a wide range of Rs 8.3 today.

12.10 PM: Nifty's technical outlook

Expressing views of Market's technical trend today, Sameet Chavan-Chief Analyst-Technical and Derivatives, Angel Broking) said, "We had a muted session on Monday but overnight there was unprecedented fall seen in Crude oil prices which spooked traders' fraternity across the globe. As a result, our markets opened with more than 200 points downside gap and then kept sinking to test the 8900 mark. Due to some mild recovery towards the fag end, the Nifty eventually closed tad below 9000 by shedding three percent as compared to the previous close. If things had not worsened with respect to Crude, 9100 would have acted as a support. But yesterday we opened well below it and then continued the selloff.

On next support and resistance levels, he further added,"Going ahead, 8900 - 8820 would be seen as a crucial support zone; whereas on the upside, 9044 followed by 9100 is likely to act as immediate hurdles."

12.00 PM: Expert opinion on RIL-Facebook deal

Experssing views on the Facebook-JIO deal, Aamar Deo Singh, Head Advisory, Angel Broking said,"It's a win-win situation for both the partners, as on one hand, it gives Facebook a wider audience with Jio's 388 million client, it helps Reliance pay its debt as well as leverage the reach of Whatsapp, Facebook Chat's service.

He added,"With the current global scenario post COVID-19, focus being on digital, it opens up huge business opportunities for both of the giants. It couldn't have  come at a more opportune time. And with India slated to have 900 million internet users in a few years, as per a CISCO report, limitless potential opens up."

On RIL's share price, he further said,"Reliance is already up almost 7% in today's day of trade, clearly indicating that markets have given a thumbs up to this business decision, as it paves the eventual listing of Jio which is in the process to transform itself into a digital services company. On the other hand, Facebook would also gain as it gives it access to huge digital business opportunities in India."

11: 50 AM: Apollo Tyres share price climbs 3.7%

Apollo Tyres share price rose in early trade today after the company said that its operations in plant situated in the state of Kerala (at Perambra) has partially resumed with effect from April 21, 2020.

Following the update, shares of Apollo Tyres touched an intraday high of Rs 95.35, rising 3.7% on BSE today.

11.40 AM: Market update

Benchmarks Sensex and Nifty rose higher on Wednesday, bucking the weak trend from overseas, as investors anticipated another stimulus from PM Modi's cabinet meet scheduled today. As per market experts, domestic indices rose higher on stock specific action in index heavyweights. Reversing trend from losses, BSE Sensex traded 400 points higher 31,036 and NSE Nifty traded 92 points higher at 9,074.

11.30 AM: TamilNadu Petroproducts share price rises 3%

TamilNadu Petroproducts share price climbed 3% intraday to Rs 30.40 on BSE after the company informed the exchanges that the operations of Propylene Oxide Plant has restarted on 20 April 2020.

11.20 AM: ACC share price rises 3.6% post Q4 results

ACC share price touched an intraday high of Rs 1178, rising 3.66% on BSE today despite the company posting weak March quarter earnings.

Company's net profit fell 6.6% to Rs 323 cr in the quarter ended March 2020 as against Rs 345.99 crore during the previous quarter ended March 2019. Company's sales fell 10.82% to Rs 3433.02 crore in Q4FY20 as against Rs 3849.63 in Q4 FY19.

11.10 AM: Jyothy Labs share price climbs nearly 7%

Jyothy Labs share price touched an intraday high of Rs 119.85 on BSE, rising 6.4% apiece, after the company announced the launch of its hand sanitizer under the brand name Margo.

11.05 AM: HDFC share price drops over 2.5%

HDFC shares fell 2.59% to the day's low of Rs 162 on BSE today. The company has earlier announced that it has reduced its retail prime lending rate by 15 basis points from April 22, 2020. The change will benefit all existing HDFC retail home loan customers, the filing added.

10.50 AM: Rupee hits all-time low of 76.88 at opening session

Indian rupee hit another all-time low of 76.88 against the US dollar on Wednesday for the third consecutive day, amid strengthening of the US dollar overseas. Earlier on April 16, the local unit had hit 76.87 mark per US dollar.

Meanwhile, the US dollar index rose by 0.04% to 100.30.

Rupee vs Dollar: Rupee hits all-time low of 76.88 amid strengthening of US dollar

10.40 AM: Tata Steel BSL production figures

As per company's latest announcement, Q4 crude steel production was up9.4% at 11 lakh tonnes compared to 10.2 lakh tonnes on a yearly basis.

Annually, Q4 sales were howver down 13.8% at 9.8 lakh tonnes as against 11.37 lakh tonnes.

Shares of Tata Steel BSL were trading 1.79% lower at Rs 16.45 on BSE.

10.30 AM: Market rises further

Benchmarks Sensex and Nifty rose higher on Wednesday, bucking the weak trend from overseas, as investors anticipated another stimulus as an outcome of the PM Modi's cabinet meet scheduled today. Earlier at opening session, markets rose higher on stock specific action in index heavyweights. BSE Sensex traded 150 points higher 30,759 and NSE Nifty traded 20 points higher at 9,000.

10.20 AM: Reliance Industries share price gains over 8%

Social media giant Facebook announced buying minority stake in the Mukesh Ambani-owned telco  Reliance Jio for $5.7 billion (Rs 43,574 crore). The investment makes Facebook the largest minority shareholder in Jio Platforms Limited.

Following this, RIL shares opened with a gain of 6.79% today and later touched an intraday high of Rs 1339.2, rising 8.35% on BSE.

Facebook buys 10% stake in Reliance Jio

10.10 AM: Brent crude continues fall

Brent crude, the international standard, for delivery in June lost 24.4% to $19.33 per barrel.

The market's spotlight was again on oil, where prices have plummeted because very few people are flying or driving, and factories have shut amid widespread stay-at-home orders. Global demand is set to drop to levels last seen in the mid 1990s. At the same time, oil producers can't slow their production fast enough, and all the extra crude means storage tanks are quickly running out of room.

Oil prices rout continues, global stocks in dismay

9.50 AM Coronavirus toll

There 25.57 lakh confirmed cases worldwide and almost 1.77 lakh deaths from the coronavirus COVID-19 outbreak.

In India the number of active coronavirus cases reported has risen to 20,080 cases including 645 deaths and 3,975 recoveries. As per reports Prime Minister Narendra Modi will hold a cabinet meet at his residence on Wednesday to take stock of the ongoing situation in the wake of novel coronavirus outbreak.

Coronavirus India Lockdown Live Updates

9.40 AM: Top gainers/ losers today

RIL, Airtel, Maruti, LT, UltraTech Cement and Sun Pharma were the top gainers in Sensex pack today. On the other hand, ONGC, Bajaj Finance, HDFC, Power Grid and NTPC were among the top losers.

9.30 AM: Global cues

Globally, investor sentiments remained fragile with countries closing their borders and urging citizens to stay back home as a part of coronavirus measures.

The collapse in global oil prices and weak earnings forecasts by companies also worsened fears of a deep economic downturn among investors.

European and US indices closed 3-4% lower yesterday. Asian peers were poised to track the negative trend. On the contrary, only SGX Nifty on Singaporean Exchange was trading flat with positive bias.

9.20 AM: Opening bell

Benchmarks Sensex and Nifty opened on a positive note on Wednesday, despite weak global cues. BSE Sensex traded 335 points higher 30,910 and NSE Nifty traded 65 points higher at 9,054.

9.15 AM: RIL: Facebook invests in Reliance Jio

Facebook announced a $5.7 billion (Rs 43,574 crore) investment in Reliance Industries Ltd's telecom unit on Wednesday, making it the largest minority shareholder in Jio Platforms Limited.

The social media giant said it would focus on collaborating its messaging platform WhatsApp with Reliance's e-commerce venture JioMart to enable people to connect with small businesses.

Facebook's investment will translate to a 9.99% equity stake in Jio Platforms on a fully diluted basis, Jio said in a statement.

Facebook buys 10% stake in Reliance Jio for Rs 43,574 crore

9.05 AM: Pre-open session

Benchmarks Sensex and Nifty pre-opened on a positive note on Wednesday, despite weak global cues. SGX Nifty also turned flat with positive bias today. BSE Sensex traded 335 points higher 30,910 and NSE Nifty traded 65 points higher at 9,054.

8.50 AM: MCX settles April crude oil contract in negative on Tuesday

Multi Commodity Exchange Clearing Corporation (MCXCCL), a wholly owned subsidiary of the Multi Commodity Exchange (MCX) of India, settled April expiry at a negative Rs 2,884 per barrel, in an unprecedented move which was never seen in India's commodity derivatives history.

The demand for oil has taken a severe hit across the world due to coronavirus-forced lockdowns.

WTI crude oil price drop effect

8.40 AM: Stocks to watch today on April 22

HDFC, HDFC AMC, ACC, Tata Motors, Federal Bank among others are the top stocks to watch out for in Wednesday's trading session.

Stocks in news: HDFC, HDFC AMC, ACC, Tata Motors, Federal Bank and more

8.30 AM FII/ DII action on Tuesday

On a net basis, FIIs sold off Rs 2,095.2 cr and DIIs too offloaded Rs 68.5 cr in equities on Tuesday

8.20 AM: Coronavirus Toll

There 25.57 lakh confirmed cases worldwide and almost 1.77 lakh deaths from the coronavirus COVID-19 outbreak. The number of active coronavirus cases reported in India rises to 20,080 cases including 645 deaths and 3,975 recoveries.

8.10 AM: Rupee closing yesterday

Indian rupee, the local benchmark currency closed at all-time low of 76.83 per dollar on Tuesday

8.00 AM: Tuesday's Closing bell

Domestic indices Sensex and Nifty followed bearish trend from overseas markets and closed majorly lower on Tuesday. BSE Sensex closed 1,011 points lower at 30,636 and NSE Nifty ended 280 points lower at 8,981.

Sensex slips 1,011 points on US crude oil shock, Nifty ends below 9,000