Share Market Highlights: Sensex ends 548 points higher, Nifty at 10,901; BPCL, ONGC, GAIL, RIL top gainers

Sensex, Nifty Updates: Sensex and Nifty ended the week on a bullish note on Friday, amid positive global equities, backed by heavy buyin in bank and metal stocks. Sensex ended 548 points higher to 37,020 and Nifty closed 161 points higher at 10,901. Led by bullish Asian and European stock markets, dometic markets closed majorly higher suprressing the concerns over surging domestic coronavirus cases that crossed the 1 million mark in. Yesterday, Sensex closed 419 points higher at 36,471 and Nifty gained 121 points to 10,739.

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

3. 44PM: Closing

Sensex and Nifty ended the week on a bullish note on Friday, amid positive global equities, backed by heavy buyin in bank and metal stocks. Sensex ended 548 points higher to 37,020 and Nifty closed 161 points higher at 10,901. Led by bullish Asian and European stock markets, dometic markets closed majorly higher suprressing the concerns over surging domestic coronavirus cases that crossed the 1 million mark in. Yesterday, Sensex closed 419 points higher at 36,471 and Nifty gained 121 points to 10,739.

3. 30 PM: Sectors today

In terms of sectors, except IT, all the other major indices ende in red today. Nifty bank and privte banking ended 2% higher each, followed by 1.8% rise registered in auto, pharma and PSU Bank and over 1% gain in media.

3. 15 PM: Rupee ends higher

Rupee ended higher at 75.02 per dollar as against the arlier close of 75.19 per dollar.

3.02 PM: Rupee outlok

On domestic currency, rupee's near term outlook, Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking said,"The bias for the rupee is skewed towards appreciation, at least in the near term, on the back of persistent inflows and hopes of a potential coronavirus vaccine. We think the rupee can appreciate towards 74 levels in the near term as the dollar index has weakened and equity rally suggests room for more inflows. For the time being, 75.50 should act as a strong cushion level for the domestic currency. A possible standoff between the U.S. and China, or aggressive RBI intervention however can lead to a break below these levels."

2. 48 PM: Q1FY21 results of Granules India

Commenting on quote on Q1FY21 results of Granules India , Yash Gupta, Equity Research Associate, Angel Broking said."Granules India reported a very good set of numbers for Q1FY21 with a beat across all parameters. Consolidated revenue from operations was up by 23.6% yoy to Rs. 735.6 crore. Growth was driven by strong performance by the US and India businesses which reported revenue growth 35.4% and 25.2% respectively. Gross margins were up by 918 bps yoy to 59.5% driven by better product mix and currency benefits. EBITDA  for the quarter stood at Rs. 183.6 crore, up by 54.8% yoy. The Company was able to increase market share in both the PFI and finished dosage segment. Profit after tax stood at 111.4 Crore as compared to 83.4 crore up by 33.5% yoy while net margins improved by ~550bps to 15.2%."

2. 31 PM: Britannia Q1FY21 results

Expressing views on Q1FY21 results of Britannia Industries by Rajit Rajoriya, Equity Research Associate, Angel Broking  said,"India's leading Food Company, reported consolidated revenue from operations growth of 26.7% for the Quarter at Rs. 3421crores against the street estimate of 22% growth on a YoY basis. Operating margins saw a rise with 670bp at 21% vs 14.3% in the same quarter a year ago. Consolidated Net Profit increased by 118% for the Quarter at Rs. 543 cr. against 249 Cr. net profit in the same quarter last year, massively beats market expectations of 55% profit growth.

Company comes under the 'Consumer Staples' segment which was least affected during the lockdown period and also there was a huge surge in in-house consumption trends. Company showed an impressive performance beating market expectations on all fronts.

2. 14 PM: HCL Tech Q1FY21 results

On Q1FY21 results of HCL Technologies, Jyoti Roy, DVP- Equity Strategist, Angel Broking said," While the Q1FY21 revenues were in line with street estimates margins and profits came in above street estimates due to cost control by the company. Management guidance of a 1.5-2.5% growth in revenue in constant currency terms for Q2FY21 provides visibility and will be taken very positively by the markets."

1. 58 PM: Cochin Shipyard rises 3%

Shares of Cochin Shipyard gained over 3% on Friday's early session, after the company said it won a contract from Norway ASKO Maritime AS for constructing two autonomous electric ferries with an option to build two more such ships.

1. 37 PM: Rupee trades higher

The rupee, the domestic currency appreciated 5 paise to 75.13 per dollar on Friday tracking positive domestic equities and weakened US dollar

Positive opening in domestic equities supported the local currency, while foreign fund outflows and rising COVID-19 cases weighed on the domestic unit

Indian Rupee slipped 7 paise to 75.25 per dollar at the interbank forex market at the opening session today. However, the local unit soon regained and touched 75.13 against the US dollar, up 5 paise over its previous close of 75.18 against the US dollar on Thursday.

Rupee rises 5 paise to 75.13 amid weak dollar, positive equities

1. 22PM: Britannia Industries stock hits all-time high ahead of Q1 earnings

Britannia Industries share price hit all-time high today as the FMCG firm was set to announce its earnings for the quarter ended June 2020. Britannia Industries share price gained 2.47% to Rs 3,949 compared to the previous close of Rs 3,853 on BSE. The large cap stock has gained 5.01% in last 2 days. Britannia Industries share traded higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Britannia Industries stock hits all-time high ahead of Q1 earnings, what brokerages expect

1. 16 PM: Silver prices

Silver prices in India were fell majorly on Friday. Silver futures fell Rs 380 to trade at 52,230 per kg today.

1. 00 PM: Gold prices decline today

Gold prices in India were tad lower on Friday in line with global commodity markets amid rising coronavirus cases and ongoing tensions between US and China. 

Gold futures on MCX were trading Rs 13 lower at Rs 48,760 per 10 gm today against the previous close of Rs 48,773 per 10 gm, after hitting a lifetime high of 49,348 in the previous week. Gold August Futures today touched an intraday high of 48,846 and a low of 48,756 today, after opening at 49,104 per 10 gm.

Gold price today: Yellow metal sees profit-booking

12. 37 PM: Global cues

Asian shares and US stock futures bounced back to bullish territory on Friday as hopes of more government spending around the globe suppressed concerns about rising new coronavirus case numbers and worsening tensions between Washington and Beijing.

12. 19 PM: HCL Tech rises post Q1 earnings

HCL Tech reported a better-than-expected profit for the first quarter and guided to a 1.5% to 2.5% quarter-over-quarter increase in revenue for the next three quarters.

HCL Tech share price gains over 2% post Q1 earnings

12. 03 PM: Britannia top gainer ahead of earnings

Share price of biscuit maker Britannia Industries gained as much as 2.16% ahead of its April-June quarter earnings scheduled later in the day.

11. 46 AM: Q1 Earnings

Corporate earnings for April-June quarter among blue-chip companies have been positive so far with IT majors like Infosys, Wipro and HCL Technologies beating street estimates and only Tata Consultancy Services missing performance expectations. HCL Technologies became the third IT major to report upbeat profit.  Meanwhile, companies set to announce their earnings are Britannia, HCL Technologies, ICICI Lombard, Coffee Day Enterprises, Granules India.

11. 29 AM: Metal stocks top gainers today

Metal stocks led gains, with the Nifty metals index rising 2.5%. Steelmakers like Tata Steel and JSW Steel advanced about 3.5% each, trading as top hgainers on NSE today.

11. 13 AM: IT stocks lead losses

IT stocks were among top laggards sector wise, as the index slipped into the red after two days of straight gains. The Nifty IT index fell 1.2%, followed by fall of 1.8% each in Infosys and Tata Consultancy Services.

10. 50 AM: Real estate sector update

Amit Modi, Director, ABA Corp & President (Elect), CREDAI Western UP said,"In the short term, given the Covid scare, there has been a shift in how the market behaves as people are leaving and social distancing; however, we are seeing a significant turnaround since the time lockdown has been lifted. In fact, even during the lockdown realtors have been able to sell properties across various segments. Mid segment might face a little slow movement because of job security but luxury will not face any such problem. Positivity in the market coupled with the increased need to have real estate asset will lead to more sales numbers in the months to come.

New trends and formats are also likely to enter the market that will be in line with the new normal that has kicked in post-COVID. Ongoing projects and new launches will see developers making changes in the interior to make the property more palatable for the new generation awakened to the reality of having a healthy life. People living in smaller apartments will lookout for more open space real estate assets such as larger format units, which obviously will depend on the pocket size of the buyers."

10. 30 AM: Oil prices today

International oil benchmark Brent crude futures fell 0.16 per cent to USD 43.30 per barrel.

10. 11 AM: Coronavirus Toll

Worldwide, the number of COVID-19 cases linked to the disease has crossed 1.37 crore. In India, the number of infections spiked over 10 lakh.

9. 50 AM: Top gainers and losers

Tata Steel, followed by ONGC, HCL Tech, Bajaj Finance, HUL, HDFC duo, Reliance Industries and ICICI Bank were among the top gainers. On the other hand, Infosys, TCS, M&M and Tech Mahindra were among the laggards.

9. 30 AM: Nifty outlook

"The market continues to remain cautious given flaring US-China trade relations, persistent rise in virus cases and implementation of fresh lockdowns. Though the initial success reports in Covid vaccines have brought in some cheer, the ongoing earnings season and management commentary is likely to

 keep the markets volatile. We would advise traders to stay stock specific, while investors should be more defensive in their portfolio approach," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

9. 16 AM: Opening session

Sensex was rising 151 points higher to 36,622 and Nifty traded 27 points higher at 10,767

9. 11 AM: Stocks to watch today on July 17

Thomas Cook, Cyient, L&T Technology, Central Bank, Bajaj Consumer among others are the top stocks to watch out for in Friday's trading session.

Stocks in news: Thomas Cook, Cyient, L&T Technology, Central Bank, Bajaj Consumer

8. 55 AM : Market outlook

"Markets will continue to take cues from the global peers, in the absence of any major domestic trigger. While the mood in the global markets continues to remain buoyant, the rising number of cases in the US and India would remain a key cause of concern. Besides, the earnings announcements will further induce stock-specific volatility. Keeping all in mind, we reiterate our cautious stance on the markets and suggest preferring hedged trades," said Ajit Mishra, VP - Research, Religare Broking.

Share market expectations: 5 things to know before tomorrow's opening bell

8. 50 AM: Global cues

Global equities were buoyed today as positive macroeconomic data flow and hopes of a COVID-19 vaccine boosted investor sentiment. SGX Nifty was rising 60 points higher at 10,771, indicating positive trend in domestic grounds today.

8. 40 AM: Earnings today

Britannia, HCL Technologies, ICICI Lombard, Coffee Day Enterprises, Granules India are among the top companies that will be reporting their April-June quarterly earnings

8. 35 AM: Rupee Closing

On the currency front, Indian rupee ended marginally lower at 75.19, as against the last close of 75.15 per dollar.

8.30 AM: Closing

Sensex and Nifty ended higher on Thursday tracking rally in IT stocks amid Q1 earnings season. Barring weakness from Asian equities, Sensex closed 419 points higher at 36,471 and Nifty gained 121 points to 10,739.

Sensex rises 419 points, Nifty closes at 10,739; IT, banks lead rally