Share Market Update: Sensex ends 376 points higher, Nifty at 9,914; Hindalco, HDFC twins, UPL top gainers

Sensex, Nifty Updates: Following a global rally in equities, domestic indices Sensex and Nifty closed on a bullish note on Tuesday, amid heavy buying pressure in financial stocks. Sensex ended 376 points higher to 33,605 and Nifty climbed 100 points to 9,914. Earlier market gave up gains as investors turned cautious amid reports of a violent face-off between the two nations on Monday, during the Galwan Valley deescalation process, resulting in casualties. Meanwhile, companies set to announce their earnings are Globus Spirits, Navin Fluorine, Maharashtra Bank, Hindustan Petroleum, IPCA Labs, NMDC, Schneider among others.

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

3.47 PM: Closing bell

Following a global rally in equities, domestic indices Sensex and Nifty closed on a bullish note on Tuesday, amid heavy buying pressure in financial stocks. Sensex ended 376 points higher to 33,605 and Nifty climbed 100 points to 9,914.

3.34 PM: Can Fin Homes share price gains over 11% post earnings

Can Fin Homes share price opened with a gain of 6.67% today and later touched an intraday high of Rs 338.65, rising 11.49% on BSE today, after posting its Q3 earnings.

The company reported a37% rise in its net profit at Rs 90.91 crore during the quarter ended March 31, 2020, as against profit of Rs 66.13 crore, recorded in a year-ago period. Company's total income rose 14.24% (YoY) to Rs 528 crore in the January-March quarter of the current fiscal as compared to Rs 462 crore in a year-ago period.

3.21PM: JK Tyre & Industries share price drops over 6% post earnings

JK Tyre & Industries share price touched an intraday low of Rs 59.5, falling 6.67% on BSE after the company announced its Q3 earnings.

The company reported 14% drop in its net profit at Rs 150 crore during the quarter ended March 31, 2020, as against profit of Rs 176 crore, recorded in a year-ago period. Company's total income fell 16% (YoY) to Rs 8,753 crore in the January-March quarter of the current fiscal as compared to Rs 10,452 crore in a year-ago period.

3.12 PM: IPCA Labs share price drops over 5% post result

IPCA Labs share price touched an intraday low of Rs 1510, falling 5.53% on BSE after the pharma major posted its Q3 earnings today.

The company reported 13% drop in its net profit at Rs 83 crore during the quarter ended March 31, 2020, as against profit of Rs 96.2 crore, recorded in a year-ago period. Company's total income rose 22% (YoY) to Rs 1,074 crore in the January-March quarter of the current fiscal as compared to Rs 879 crore in a year-ago period.

3.00 PM: Rupee ends lower

Rupee ended weaker at 76.21 per US dollar on tuesday, as compared to the earlier closing of 76.03 per US currency.

2.55 PM: Q4 earnings today

Globus Spirits, Navin Fluorine, Maharashtra Bank, Hindustan Petroleum, IPCA Labs, NMDC, Schneider among others will announce their Q4 results today

2. 46 PM: Market rises again

Sensex climbed 315 points higher to 33,541 and Nifty climbed 72 points to 9,886. On Friday, Sensex ended 552 points lower at 33,228 and Nifty closed 159 points lower to 9,813. Overseas, Asian shares and Wall Street futures rallied today as the formal start of the Federal Reserve's corporate bond buying programme. This helped in boosting investor sentiment and calming earlier worries about a second wave of coronavirus infections.

2.34 PM: Jubilant Science shares price hits new 52-week high, erases gains later

Share price of Jubilant Life Sciences touched a fresh 52-week high of Rs 696.4 on Tuesday's early session after ace investor Rakesh Jhunjhunwala raised his stake in the pharma firm to 5.2%. Jhunjhunwala's wife has also bought an additional 0.4% stake on June 15, as per the shareholsing pattern.

Following the update, share price of Jubilant Life Sciences touched an intraday high as well as its new 52-week high of Rs 696.4, rising 3.45% on BSE.

Although later the stok erased earlier gains and fell 4.03% to an intraday low of Rs 646 on BSE. Today the stock has fallen after 2 days of consecutive gain . This was backed by 0.78% drop in 'Pharmaceuticals' sector.

This pharma share hits fresh 52-week high after Rakesh Jhunjhunwala raises stake

2.15 PM: Global cues

Asian and European markets are trading higher taking cues from the overnight jump in US markets. Asia will focus on Central Bank of Australia's policy minutes and statement from BoJ.

US indices staged a dramatic bounce back on the back of Fed's announcement that it would include debt from individual companies to its bond buying program.

2.00 PM:India-China tensions

Indices erased all their gains and fell into red in afternoon session today after three army personnel died in Galwan valley in Ladakh in clashes with Chinese forces. After trading in green since morning on positive global cues, Sensex lost 275 points to 32,953 and Nifty fell 85 points to 9,728. Later, Sensex and Nifty recovered all losses to trade flat amid positive global cues. SGX Nifty was trading 24 points lower at 9,772, amid volatility in domestic market indices.

Sensex loses 275 points after three Indian army personnel die in Galwan valley

1.45 PM: Market Update

Of 30 Sensex stocks, 26 were trading in green. HDFC twins, Infosys, Hero MotoCorp, ICICI Bank, Tata Steel and HCL Tech were the top Sensex gainers rising up to 4%. Axis Bank, Tech Mahindra, ITC and Bharti Airtel were the top Sensex losers falling up to 2%. BSE mid cap and small cap indices rose 158 and 155 points respectively in afternoon trade.

1.31 PM: SGX Nifty turns red

SGX Nifty was trading 24 points lower at 9,772, amid volatility in domestic market indices.

1.20 PM: Why Sensex and Nifty erased gains

During de-escalation process underway in the Galwan Valley, a violent face-off took place last night with casualties. The loss of lives on the Indian side includes an officer and two soldiers, said Indian Army today.

1.00 PM: CSB Bank share price gains over 8%

CSB Bank share price opened with a gain of 2.44% today and later touched an intraday high of Rs 154, rising 8.76% on BSE, as against the previous closing of Rs 141.60 on BSE.

For FY2019-20, the Kerela-based lender reported a net profit of Rs 12.72 crore as against a loss of Rs 197.42 crore in the year-ago period.

The bank narrowed its losses to Rs 59.69 crore for the quarter ended March 2020, as against Rs 150.64 crore in the year-ago period.

12. 45 PM: Nifty outlook

On Nifty's near term outlook, Geojit Financial in its daily report said," Expect 10000-10038 region to force a brief turn lower initially, which should be contained within 9900 for upside expectations to remain intact."

12.30 PM: Gold falls today

Gold price fell as dollar gained and was near a week's high which helped in easing fears of a second wave of corona virus.

12.22PM: Market Update

All 19 BSE sectoral indices were trading in the green. Banking stocks led the gains with BSE bankex rising 418 points to 23,087. BSE IT index too rose 255 points to 14,601. Bank Nifty climbed 344 points or 1.75% to 20,257. Market breadth was positive with 1579 stocks rising against 729 falling on BSE. 122 stocks were unchanged.

Sensex rises 800 points, Nifty above 10K: What's driving the rally today

12.10 PM: Expert Opinion on Tata Motors result

Expressing views on Q4-FY20 result of Tata Motors by Jyoti Roy, DVP Equity Strategist, Angel Broking said, "Tata Motors Ltd. consolidated revenue from operations for Q4FY20 stood at Rs 62,493 crore, down 28% (YoY) on the back of a steep fall in vehicle sales during the quarter. Revenue from JLR which contributes 75-80% of the company's total consolidated revenue, stood at Rs 50,561 crore, down 22% (YoY). JLR was on its way to recovery in the second and third quarters of FY20 but the Covid-19 pandemic disrupted major global markets such as the US, Europe and China in the fourth quarter.

Company reported consolidated net loss of Rs 9,894 crore for the March quarter against street estimate of net loss of Rs  1300 crore and compared to net profit of Rs 1,117 crore in the year-ago period. The company has made a onetime provision for impairment in the domestic PV business of Rs 1,419 crore during the quarter."

11.49 AM: Tata Motors share price drops 5%

Tata Motors share price was falling 5% lower to the intraday low of Rs 95.40 on Tuesday after the company said its owned Jaguar Land Rover (JLR) is planning to cut over 1,000 contract-agency jobs amid the ongoing COVID-19 pandemic pressures.

11.35 AM: Rupee rises 19 paise to 75.84 per dollar

The rupee opened strong at 75.89 per US dollar, then further gained up 19 paise to 75.84 over its previous close of 76.03 against the greenback on Monday.

Forex traders said where weak US currency supported the rupee, rising coronavirus cases worldwide and in domestic grounds weighed on the domestic unit.

11.10 AM: SEBI serves notice to Rakesh Jhunjhunwala

The Securities and Exchange Board of India (SEBI) has sent a show-cause notice to billionaire investor Rakesh Jhunjhunwala for alleged insider trading in the shares of education firm Aptech. The IT education and training company is owned by him and his family and is the only firm in the ace investor's portfolio in which he holds management control.

SEBI serves notice to Rakesh Jhunjhunwala over alleged 'insider trading' charges

10. 50 AM: Coronavirus toll

India's COVID-19 tally rose further on Monday to cross 3.3 lakh and the death toll surpassed 9,500. The number of cases worldwide has crossed 80.18 lakh, with death toll topping 4.36 lakh.

10.32 AM: Nifty's outlook

On Nifty's near term outlook, Angel Broking in its technical report said, "At our end, we still remain hopeful and expect the Nifty not to fall below 9500 now. Before this, 9750-9675 can be seen as intraday supports. On the flipside, 9925-10000 remains to be a sturdy wall and if the index has to regain any strength, it needs to again enter a five-digit territory soon."

10.25 AM: Tata Motors share price gains 3%

Tata Motors share price rose in early trade today despite the auto firm posting a net loss of Rs 9,863.75 crore in Q4. Share price of Tata Motors gained 3% to Rs 103.50 against the previous close of Rs 100.45 on BSE. Market cap of Tata Motors stood at Rs 35,021 crore today. Total 33.09  lakh shares changed hands amounting to turnover of Rs 33.23 crore on BSE. The large cap stock has gained after three days of fall.

Tata Motors share price gains 3% despite Rs 9,863-crore loss in Q4

10.19 AM: Market Update

Sensex climbed 715 points higher to 33,943 and Nifty climbed 209 points to 10,023.

10.00 AM: Top gainers today

All components in Sensex pack were trading in the positive territory with Tata Steel, ICICI Bank, HDFC, Bajaj Finance, IndusInd Bank, HDFC Bank, Infosys, Kotak Bank and SBI were also among the gainers.

9. 45 AM: Oil falls today

International oil benchmark Brent crude futures fell 0.53 per cent to USD 39.51 per barrel.

9.34 AM: Global stocks rally with start of Federal Reserve's corporate bond buying programme

Asian shares and Wall Street futures rallied on Tuesday as the formal start of the Federal Reserve's corporate bond buying programme boosted global investor sentiment and calmed earlier worries about a second wave of coronavirus infections.

U.S. stock futures, the S&P 500 e-minis, were up 0.98% following a late rally on Wall Street on Monday. Treasury yields rose and the yield curve steepened.

The Fed said it will start purchasing corporate bonds on Tuesday in the secondary market, one of several emergency facilities launched in the wake of the coronavirus pandemic.

Asian shares, Wall Street futures rise as Fed readies corp bond buying

9. 28 AM: Stocks in news today

JK Tyre, Mindtree, Ashoka Buildcon, Pfizer, Can Fin Homes, Meghmani Organics among others are the top stocks to watch out for in Tuesday's trading session.

Stocks in news: JK Tyre, Mindtree, Ashoka Buildcon, Pfizer, Can Fin Homes, Meghmani Organics and more

9. 13 AM: Opening bell

Following a global rally in equities, domestic indices Sensex and Nifty opened majorly bullish on Tuesday. Sensex climbed 715 points higher to 33,943 and Nifty climbed 209 points to 10,023.

9.00 AM: PM to meet state heads today

On June 16, PM Modi will interact with heads of 21 states and UTs. These include states that have registered low cases of coronavirus and deaths. On June 17, PM Modi will be interacting with CMs of states with higher density of cases. The PM and state heads are expected discuss ways to flatten the coronavirus curve that has risen sharply during the Unlock 1.0

8.55 AM: Q4 earnings today

Globus Spirits, Navin Fluorine, Maharashtra Bank, Hindustan Petroleum, IPCA Labs, NMDC, Schneider among others will announce their Q4 results today

8.45 AM: FII/DII action

On a net basis, FII's offloaded Rs 2,960 crore, while DIIs bought Rs 1,076 croe worth equities on Monday

8. 35 AM: May deficit

May trade deficit comes in at $3.15 bn

8. 30 AM: Closing

Market indices Sensex and Nifty fell majorly by the second hour of session and closed over 1.6% lower each, amid weak global equities. Domwstic markets were in trading on a bearish note on Monday, in line with weak Asian counterparts and oil prices amid concerns of a rise in domestic coronavirus cases and second wave of coronavirus arising out of Beijing. Sensex ended 552 points lower to 33,228, and Nifty closed 159 points lower to 9,813.