Share Market Highlights: Sensex ends 433 points lower, Nifty at 11,178; Eicher Motors, Tata Motors top losers

Sensex, Nifty Highlights on August 14: Domestic benchmark indices erased early gains and ended majorly lower on Friday, led by selling pressure in auto and banking stocks, amid negative global equities. Sensex ended 433 points lower at 37,877 and Nifty fell 122 points to end at 11,178. Yesterday, Sensex ended 59 points lower at 38,310 and Nifty lost 7 points to 11,300. Traders said market participants turned cautious ahead of the SC AGR Case hearing at 3 pm today. Investors will also track Wholesale Price Index (WPI) data, and trade data scheduled to be released later in the day for further cues.

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

3. 47 PM: Closing

Domestic benchmark indices erased early gains and ended majorly lower on Friday, led by selling pressure in auto and banking stocks, amid negative global equities. Sensex ended 433 points lower at 37,877 and Nifty fell 122 points to end at 11,178.

3. 32 PM: Real estate sector update

Speaking on the outlook for real estate sector, Kushagr Ansal, Director, Ansal Housing & President, CREDAI - Haryana said, "Over the past few years, urbanisation has been rapidly accelerating in the metros and Tier II cities, so much so that cities like Delhi, Gurgaon, Indore and Meerut are expanding their peripheral regions to accommodate the growing population. The present COVID-19 situation has further fragmented the distribution of working professionals, as most of them have moved back to their hometowns and are operating from there. Need for better and organized living, retailing and entertainment has also seen a spike due to limited options available in these towns. Lower land prices available in Tier II cities has been another prominent factor drawing interest of investors and developers with legacy in the business. Tier II cities with improved infrastructure and connectivity are going to be the next hub for modern commercial and residential complexes at par with the developments in metros.

3. 13 PM: Eicher Motors stock falls over 7% post Q1 earnings

The automaker reported a company reported a consolidated net loss of Rs 55 crore in the June quarter against a net profit of Rs 452 crore in the year-ago period.

Revenue from operations fell by 66% YoY at Rs 818 crore against 2,382 crore registered in the year-ago period.

Following the result update by the automobile manufacturing company, shares of Eicher Motors touched an intraday low of Rs 20,083.9, falling 7.32% as compared to its earlier closing of Rs 21,671 on BSE. It has also touched an intraday high of Rs 21,740, after opening at Rs 21,640.

2.56 PM: Global markets turn red

Dow Jones Futures fell off highs and traded 290 points lower. European markets also opened deep in red, dropping over 2% each amid rising concers over the economic downturn due to the Covid-19 pandemic. Most major Asian equities also reversed trend and fell in red territory. Now, investors are keeping an eye over the US-China key trade talks scheduled on August 15, 2020. Breakthrough in the stalled US stimulus talks will decide the direction for equity markets.

2.41 PM: Market deep in red

Domestic benchmark indices erased early gains and fell majorly on Friday, led by selling pressure in global equities. Sensex was trading 490 points lower at 37,841 and Nifty fell 147 points to trade at 11,153.

2. 37 PM: Market awaits cues from SC hearing on AGR case

Traders said market participants turned cautious ahead of the SC AGR Case hearing at 3 pm today. Investors will also track Wholesale Price Index (WPI) data, and trade data scheduled to be released later in the day for further cues.

2.24 PM: RIL shares gain

Reliance Industries share price was were trading as the top gainers on NSE, BSE. The jump in the share price of Reliance Industries Ltd was following news that its Chairman Mukesh Ambani, 63, is planning to set up a 'family council', which will implement a governance structure in India's biggest business house's succession plan.

The rise in the share price of Reliance Industries came on news that its Chairman Mukesh Ambani, now worth more than $80 billion, was planning to set up a 'family council', which will implement a governance structure in India's biggest business house's succession plan.

Ambani, 63, who reportedly has plans to hand over reins of his sprawling empire to his three children by next year-end, wants to set up the council in order to ensure all family members are on board for the conglomerate's future.

Reliance Industries share top gainer on NSE, BSE today; here's why

2. 12 PM: Rakesh Jhunjhunwala earned Rs 2.71 crore per day with this stock for 100 sessions

Ace investor Rakesh Jhunjhunwala made Rs 2.71 crore per day for 100 trading sessions or Rs 271.09 crore from the stock of Crisil Ltd since March 23 this year. Jhunjhunwala and his wife held 39.75 lakh shares in the stock of ratings agency for the quarter ended March 2020. While Jhunjhunwala owned 21.06 lakh shares (2.91%) in the firm, his wife Rekha Jhunjhunwala held 18.68 lakh shares (2.58%) during the period.

Rakesh Jhunjhunwala earned Rs 2.71 crore per day with this stock for 100 sessions

1. 42 PM: Tata Steel Q1 update

Commenting on results of Tata Steel, Jyoti Roy , DVP-Equity Strategist, Angel Broking said," Though the company reported a greater than expected loss for the quarter it seems that the worst is over for the company as Global steel demand is expected to improve gradually from here on as economic activity recovers with relaxation in mobility restrictions and policy stimulus."

1. 39 PM: Nifty outlook

Commenting on Nifty, Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking said," The benchmark is clearly struggling to surpass 11350-11400. In our sense, if Nifty doesnt surpass the mentioned resistance zone, the possibility of it falling is quite high.  Its slightly early to comment on it as such pattern generally requires confirmation in the form of breaching the neckline (in this case, its around 11235-11175)."

1. 23 PM: BPC Q1 update

Commenting on 1QFY21 results of BPC, Jyoti Roy , DVP-Equity Strategist, Angel Broking said,"Sales were adversely impacted in the month of April and May due to the lockdowns though they have improved substantially by June. While the company posted a decent set of numbers for Q1FY21 we believe that there will be a durable improvement in demand only in the second half of FY21 while GRM's will remain subdued in the near future."

1. 11 PM: Global markets

Asian markets are trading mixed as investors remained cautious taking cues from US markets.

U.S. markets closed mixed led by lower than expected jobless claims but uncetainty over corona virus aid package casted shadow.

European markets closed lower as investors digested the latest US jobless claims numbers. Banking shares led the losers.

12. 56 PM: Nifty technicals

Commenting on Nifty's outlook, Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said," The Nifty continues to remain within the range of 11250 - 11350. We opened above the range but have re entered the range. If we can get past the 11350 levels we will start moving towards 11500. The support for this market remains at 11100-11150. Traders are advised not to trade while the markets are within this range. Wait for either side to be taken out."

12. 37 PM: Nifty outlook

Geojit Financial in its note said," Our expectation yesterday for Nifty was to see a turn lower from 11340-11375 and reverse again from 11250. While this evolved yesterday, the second leg of the expectations, aiming 11600 hangs in the balance. Should the 11375/444 region pose troubles again, the next turn lower could aim for 10640 with intermediate stop at 10950. We would look for a vertical rise above 11390, to cash bearish view aside."

12. 123 PM: Reliance Industries share price gains over 1%

Shares of Reliance Industries jumped 1.6% on Friday's session to hit an intraday high of Rs 2,156.50 on BSE as against the last closing value of Rs 2,122.30. Currently the shares trade 2.6% away from 52 week high of Rs 2198.7. RIL share price has gained after 2 days of consecutive fall.

12.09 AM: Market update

Domestic benchmark indices traded on a bullish note on Friday, led by gains in index-heavyweights Reliance Industries, Infosys and L&T amid sustained foreign fund inflow, amid mixed global equities. Sensex was rising 126 points higher at 38,436 and Nifty gained 39 points to trade at 11,339.

Markets participants will also track Wholesale Price Index (WPI) data, and trade data scheduled to be released later in the day for further cues, traders said.

11. 45 AM: Retail gold rate in India

24-carat gold prices in the national capital traded at Rs 55,910 per 10 gram. Price of 24-carat gold stood at Rs 55,510 per 10 gram in Chennai. In Mumbai, the rate was Rs 52,260 for 24-Carat gold, as per Good Returns website.

Gold price falls for fifth consecutive session, silver rates at Rs 70,500

11. 20 AM: Hero MotoCorp share falls 2%

Hero MotoCorp share price slipped in early trade today after the firm reported a 95% crash in Q1 net profit.  Share price of Hero MotoCorp touched an intraday low of Rs 2,757, falling 1.95% on BSE against the last closing value of Rs 2,811.

Hero MotoCorp share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has fallen after 3 days of consecutive gain.

Hero MotoCorp share falls 2% after Q1 profit crashes 95%

11. 13 AM: Rupee opens higher

Rupee, the currency benchmark inched 3 paise higher per dollar to 74.81 on Friday's opening bell, tracking positive domestic equities and sustained foreign fund inflows.

The domestic unit opened at 74.85 against the US dollar at the interbank forex market and gained ground to touch 74.81 per dollar, registering a marginal rise of 3 paise over its previous close of 74.84.

Rupee inches 3 paise higher to 74.81 per dollar amid positive equities, FII inflows

10.51 AM: Top gainers and losers

L&T, followed by Sun Pharma, Reliance Industries, UltraTech Cement, NTPC, Asian Paints, TCS and Infosys were among the top gainers in the Sensex pack. On the other hand, HCL Tech, PowerGrid, ONGC, ITC, Axis Bank and Maruti were among the laggards.

10. 42 AM: Gold price drops for fifth session

The yellow metal continued bearish momentum for the fifth session, declining 0.50% lower or Rs 260 at Rs 52,670, after hitting an intraday high of Rs 52,700. This was against the previous close of Rs 52,930 per 10 gm. MCX gold futures trade almost Rs 3,491 lower than the lifetime high of Rs 56,191 per 10 gm, hit last Friday.

Silver September futures were trading Rs 565 lower at Rs 70,512 per kg today after they touched an intraday high of Rs 70,650 per kg. Silver Futures have hit a lifetime high of Rs 77,949 in last Friday's session.

10. 32 AM: Overseas commodity prices

Overseas, gold and silver prices stayed flat after the recent decline, as jobs data showed more is required to kickstart economy even though it was above estimates

Spot gold was down 0.1% at $1,952.01 an ounce, after falling 4% so far this week, its biggest weekly percentage fall since early March. Where US gold was trading 0.5% to $1,960.50, Comex Gold was flat at $1,956 per ounce.

Silver also fell snapped its 9-week winning streak, dropping 3.5% so far. The precious metal dropped 1.1% to $27.26 per ounce.

10. 15 AM: Coronavirus toll

India continues to see the rising number of coronavirus cases, with new infections taking the total to 24.59 lakh mark today, with total deaths standing at 0.48 lakh. Worldwide, there are 210 lakh confirmed cases and 7.57 lakh deaths from COVID-19 outbreak.

10.03 AM: Oil prices today

Oil prices remained lackluster on Friday after IEA lowered its 2020 oil demand forecast post travel restrictions in many countries. Brent crude futures, the global oil benchmark, rose mere 0.33 per cent to USD 45.11 per barrel.

9. 40 AM: Gold outlook

On London spot technical outlook, Geojit Financial Services said in a note, "Sustained trades above $1980 is required to continue upticks in the counter. Else, likely for corrective selling pressure towards $1860 followed by $1780 levels later."

As per the brokerage, MCX Gold August, resistance is placed at 53,600 and support is at 51,400/49,200. For MCX Silver August futures, the resistance is at 72,200/74,980 and the support is placed at 60,100.

9.31 AM: Stocks in news today

Bank of India, Tata Steel, Hero MotoCorp, BPCL, Eicher Motors among others are the top stocks to watch out for in Friday's trading session

Stocks in news: Bank of India, Tata Steel, Hero MotoCorp, BPCL, Eicher Motors

9. 23 AM: Global markets

Asian stocks were trading mixed on Friday as investors remained cautious after impasse over the next round of coronavirus aid worth $1 trillion in the US.

US, stocks closed on mixed note on Thursday as investors digested better-than-expected unemployment data and monitored the stalemate in stimulus negotiations.

9. 17 AM: Opening session

Sensex and Nifty opened on a bullish note on Friday, erasing yesterday's decline amid mixed global equities.Sensex was rising 149 points higher at 38,459 and Nifty gained 52 points to trade at 11,353.

9. 07 AM: FII/ DII action

Foreign portfolio investors (FPIs) bought shares worth Rs 416.28 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 763.54 crore in the Indian equity market on 13 August, provisional data showed.

8. 55 AM: Market outlook

Vinod Nair, Head of Research at Geojit Financial Services said,"Global cues were also mixed as Asian markets ended positively while European markets were trading in the negative. Uncertainty in global markets has emerged due to the doubtful US stimulus package and the impact of the US-China trade meeting over the weekend.  Domestic stock valuation concerns and continuing high rate of virus infections impacted the Indian markets."

8. 50 AM: India's Retail inflation

India's retail inflation stood at 6.93% for the month of July as against 6.23% in the month-ago period, data released yesterday showed. The consumer price index (CPI)-based inflation rate for June has been revised from 6.09% to 6.23%.

8. 45 AM: Nifty outlook

As per Angel Broking, Nifty doesn't have enough strength to go beyond the sturdy wall of 11350-11400 as well. The index needs to break below 11238, which will result in some immediate correction towards 11125-11064.

8. 40 AM: Earnings Today

Hindalco Industries, NTPC, Glenmark Pharmaceuticals, Berger Paints, Bodal Chemicals, Borosil, Clariant Chemicals, Dilip Buildcon, Dollar Industries, Emkay Global, Finolex Cables, Fortis Healthcare, Greenply Industries, HG Infra Engineering, IIFL Wealth Management, Indian Bank, MRF, Nagarjuna Fertilizers, New India Assurance Company, Ramco Cements, Sun TV Network, United Breweries, Varroc Engineering, Voltas, VRL Logistics, Zuari Global among others will reprt April-June quarter earnings today.

8. 35 AM: Nifty technical indicators

Commenting on Nifty's near term technical outlook, Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said," The Nifty has resumed its up move after a brief pause yesterday. We should be heading to levels closer to 11500 during the course of this month's expiry. The support for the Nifty is at 11150 so a closing below that level could be kept as a stop for all long trades."

8. 30 AM: Closing on Thursday

Benchmark indices ended lower for the second straight session amid record surge in coronavirus cases and mixed global cues. Gains in consumer durables and capital goods stocks were offset by a fall in pharma and financial stocks. Sensex ended 59 points lower at 38,310 and Nifty lost 7 points to 11,300.

Sensex, Nifty end lower for second straight session; pharma stocks lead losses