Share Market Update: Sensex ends 163 points higher, Nifty at 12,133; Eicher Motors up 5% post Q3 result

Share Market Update: Equity market benchmarks Sensex and Nifty extended gains for the fourth consecutive session on Thursday, amid strong cues from global markets and ended 0.40% higher. BSE 30-share S&P Sensex ended 144 points higher at 41,313 and NSE 50-share index Nifty50 closed 44 points higher at 12,133. In terms of sectors, except FMCG, IT and realty, all the indices traded in the green, with PSU banking index ending 2.6% higher. Overseas trend was bullish as commodities, equities and other markets traded buoyed on the developments in the coronavirus outbreak amid unconfirmed reports of a possible vaccine breakthrough for the virus. However, the World Health Organization has played down the reports of breakthrough drugs being discovered.

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

Closing Bell

3: 45 PM

Sensex and Nifty closed 0.40% higher on Thursday, amid strong cues from global markets, backed by heavy buying in PSU banking, media and pharma stocks. BSE 30-share S&P Sensex ended 144 points higher at 41,313 and NSE 50-share index Nifty50 closed 44 points higher at 12,133.

Eicher Motor rises 5% post Q3

3: 00 PM

The company reported 6.3% fall (YoY) in consolidated net profit to Rs 498 crore during the quarter ended December 31, 2019 as against Rs 532 crore, recorded in a year-ago period. Total revenue from operations rose 1.28% (YoY) to Rs 2,371 crore in the October-December quarter of the current fiscal as compared to Rs 2,341 crore in the same period last financial year. EPS registered (YoY) at Rs 182 crore during the quarter ended December 31, 2019, from Rs 195 crore, booked in the corresponding quarter in the previous year. Following the results, Eicher Motor stock price rose over 5% intraday.

Emami rises 3%

2: 40 PM

Shares of Emami rose 3% intraday after the company group announced entering into a binding agreement with Nuvoco Vistas (part of Nirma Group) for the divestment of its 100% equity stake in Emami Cement at an enterprise value of Rs 5,500 crore.

Dilip Buildcon rises almost 4%

2: 35 PM

Dilip Buildcon touched an intraday high of Rs 398, rising 3.92% on BSE as the company has been declared as L-1 bidder for a new HAM project of '4 lane with paved shoulder configuration of Pathrapali-Kathghora (Km 53,300 to Km 92,600) Pkg-II of Bilaspur-Kathghora section of NH-111 New NH-130 in the State of Chhattisgarh under Bharatmala on Hybrid Annuity Mode by the National Highways Authority of India.

Advanced Enzymes posts Q3 results

2: 15 PM

The company reported 37% rise (YoY) in consolidated net profit to Rs 336 crore during the quarter ended December 31, 2019 as against Rs 244 crore, recorded in a year-ago period.

Total income rose 11% (YoY) to Rs 1,131 crore in the October-December quarter of the current fiscal as compared to Rs 1,017 crore in the same period last financial year.

EPS registered (YoY) at Rs 3.01 crore during the quarter ended December 31, 2019, from Rs 2.19 crore, booked in the corresponding quarter in the previous year.

Realty shares decline

2: 00 PM

Realty shares slipped into negative terrain on Thursday after the Reserve Bank of India's (RBI) in its sixth bi-monthly monetary policy statement for 2019-20 kept the repo rate unchanged at 5.15%, due to rising inflation.

The Nifty Realty index was trading 0.02 per cent down at 326.  From Nifty realty, shares of DLF traded 1% lower, while Mahindra Life, Indiabulls Real Estate, Prestige Estates Projects were falling around 0.6 to 0.30% lower. Contrary to this, Brigade Enterprises was up 3%, Sobha and Godrej Properties were up 1% each and Sunteck and Phoenix Mills gained 0.60% each.

S&P BSE Realty index was trading 0.46% lower at 2,477. On BSE, Indiabulls Real Estate, Omaxe, Prestige and DLF were trading in the red.

Granules India rises 5%, hits new 52-week high

1: 30 PM

Share of Granules India Limited touched an new 52-week high of Rs 162.55 today, rising 5.69% on BSE after the company said that US Food & Drug Administration (US FDA) has approved the Abbreviated New Drug Application (ANDA) filed by Granules Pharmaceuticals, Inc, a wholly owned foreign subsidiary of the company, for Colchicine Tablets USP, 0.6 mg.

 This marks the second Paragraph IV ANDA approval for Granules. Colchicine Tablets are used for treatment of Familial Mediterranean Fever (FME), the filing added.

Expert quote on RBI policy

1:00 pm

Amit Gupta, Co-Founder & CEO at TradingBells said, "RBI keeps interest rate unchanged with an accommodative stance which was largely expected but the benefit of CRR to banks for the Auto, Home and MSME loans is a big positive for the overall market as liquidity was the main concern for economic growth. There is a big booster for the real estate sector in terms of extension of date of commencement of commercial operations of project loans for commercial real estate, delayed for reasons beyond the control of promoters, by another one year without downgrading the asset classification. So we can say that this monetary policy is an extension of the budget to boost economic growth. The market is taking this policy on a very positive note where Nifty has taken out its crucial supply zone of 12100-12135. If it manages to sustain above this zone then it may head towards 12300 mark and even lifetime high can't be ruled out in the coming days while in the downside 12000-11950 zone has become a strong base."

Avenue Supermarts rises 5% to all time high post QIP

12: 40 PM

The share price of led Avenue Supermarts , that runs the supermarket Dmart,  jumped almost 5% to hit an all-time high of Rs 2,360.75 on Thursday after the company launched a qualified institutional placement (QIP) on Wednesday, offering to raise up to Rs 4,098 crore.

Radhakishan Damani-led company informed the exchanges that the issue has been approved by the company board to the tune of 20,000,000  equity shares of face value Rs 10 each, at a floor price of Rs 1,999.04 apiece, through the QIP. This would translate into a size of Rs 4,500 crore, or about USD 633 million, at the current market price.

RBI revises Q4 CPI inflation target to 6.5%

12: 30 PM

The Reserve Bank of India (RBI) on Thursday revised upward its CPI inflation target to 6.5 per cent for Q4 of current fiscal. It also set an inflation target of  5.4-5.0 per cent for first half of 2020-21 and 3.2 per cent for third quarter of 2020-21.

Gainers and Losers today

12: 10 PM

HCL Tech, ITC, Maruti, Bajaj Finance, Hero MotoCorp and TCS were the top gainers in the Sensex pack. While, Kotak Bank, NTPC, PowerGrid and HDFC were the laggards.

RBI maintains status quo

11: 50 AM

Reserve Bank of India's (RBI) in its sixth bi-monthly monetary policy statement for 2019-20 has kept the repo rate unchanged at 5.15% for last quarter of this financial year on Thursday, due to rising inflation. "Economic activity remains subdued and the few indicators that have moved up recently are yet to gain traction in a more broad-based manner. Given the evolving growth-inflation dynamics, the MPC felt it appropriate to maintain status quo, the Monetary Policy Committee (MPC) said.

The six-member committee voted unanimously to hold rates, but also said that there is policy space available for further action. Between February and October 2019, the RBI had reduced repo rate by 135 basis points.

Lupin rises 2%

11: 45 AM

Lupin shares rose over 2% intraday after the company informed that it has received US FDA approval for Leflunomide Tablets USP, 10 mg & 20 mg. The product would be manufactured at Lupin's Pithampur (Unit 1) facility. Leflunomide is used for the treatment of adults with active rheumatoid arthritis (RA), the filing added. Following the update, the Lupin shares touched an intraday high of Rs 738.4, rising 2.22% on BSE.

Berger Paints rises post Q3 earnings

11: 40 AM

Berger Paints rose in trade on Thursday after the company reported better-than-expected numbers in the third quarterly results yesterday. The company reported 5.7% rise (YoY) in consolidated net profit to Rs 351 crore during the quarter ended December 31, 2019 as against Rs 332 crore, recorded in a year-ago period. Total income rose -- (YoY) to Rs 4,371 crore in the October-December quarter of the current fiscal as compared to Rs 4,008 crore in the same period last financial year. Total EBITDA registered a growth of 7.1% (YoY) at Rs 758 crore during the quarter ended December 31, 2019, from Rs 708 crore, booked in the corresponding quarter in the previous year. Following the result update, company's shares touched an intraday high of Rs 462.85, rising 3.59% on BSE.

Adani Enterprises rises post Q3 profit

11: 30 PM

Adani Enterprises share price gained in early trade today after the flagship company of Adani Group reported a three-fold jump in its consolidated net profit at Rs 426 crore in Q3 of current fiscal. EBITDA (Earnings before Interest, Tax, Depreciation and Amortisation) grew 58 per cent to Rs 884 crore in Q3FY20 versus Rs 562 crore in Q3FY19. For the nine-month period ended December 31, 2019, profit gained 148 per cent year-on-year to Rs 1,077 crore, while total income increased by 11 per cent to Rs 30,388 crore.

Rupee opens lower

11: 25 AM

The Indian rupee opened on a cautious note at 71.22 against the US dollar in opening trade on Thursday, registering a rise of 3 paise over its previous close as investors exercised caution ahead of the RBI's monetary policy outcome. The rupee opened at 71.22 at the interbank forex market, then lost ground and fell to 71.28, down 3 paise over its last close. The rupee had settled at 71.25 against the US dollar on Wednesday.

FII/ DII action on Wednesday

11: 20 AM

On a net basis, foreign institutional investors bought equities worth Rs 248.94 crore, while domestic institutional investors bought shares worth Rs 262.75 crore on Wednesday, data available with stock exchanges showed.

Berger Paints declines over 2% post Q3 result

11: 15 AM

Berger Paints fell in trade on Thursday after the company reported below-than-expected numbers in the third quarterly results yesterday. The company reported 36.9% rise (YoY) in consolidated net profit to Rs 182.35 crore during the quarter ended December 31, 2019 as against Rs 133.18 crore, recorded in a year-ago period. Total income rose 4.7% (YoY) to Rs 1,710.13 crore in the October-December quarter of the current fiscal as compared to Rs 1,631.82 crore in the same period last financial year. Following the result update, company's shares touched an intraday low of Rs 574.45, falling 2.35% on BSE.

Cadila rises over 6% post Q3 result

11: 05 AM

Cadila shares rose nearly 6% on Thursday after the company posted better-than-street-estimates in ite December quarterly earnings. The company reported 11.6% rise (YoY) in consolidated net profit to Rs 374 crore during the quarter ended December 31, 2019 as against Rs 335 crore, recorded in a year-ago period. Total income rose 7.3% (YoY) to Rs 3,638 crore in the October-December quarter of the current fiscal as compared to Rs 3,390 crore in the same period last financial year. Following the result update, Cadila stock touched an intraday high of Rs 288.4, rising 6.34% on BSE.

Market erases gains

11:00 AM

Market benchmarks Sensex and Nifty erased early gains to trade flat with positive bias as domestic investors awaited the Reserve Bank of India's (RBI) policy outcome on Thursday, where it is widely expected that rising inflation will keep the central bank from cutting interest rates. BSE 30-share S&P Sensex traded 21 points higher at 41,155 and NSE 50-share index Nifty50 rose 8 points higher at 12,097.

Market Update

10: 55 AM

Today being the expiry day of weekly options, settlement considerations will also come into play. Today three NIFTY companies - Sun Pharma, Hero MotoCorp and Eicher Motors are going to declare their results.

MPC Meet outcome today

10: 30 AM

Domestic investors awaited outcome of the Reserve Bank of India's (RBI)  sixth bi-monthly monetary policy statement for 2019-20 on Thursday, where it is widely expected that rising inflation will keep the central bank from cutting interest rates. This will be the central bank's last monetary policy for the current financial year. The monetary policy committee in its meeting in December chose to keep its benchmark repo rate on hold and this time it is likely to continue that strategy of holding interest rates even as its stance likely to remain accommodative.

Global Markets

10: 25 AM

Overseas trend was bullish, as commodities, equities and other markets traded buoyed on the developments in the coronavirus outbreak amid unconfirmed reports of a possible vaccine breakthrough for the virus. However, the World Health Organization has played down the reports of 'breakthrough' drugs being discovered.

Elsewhere in Asia, MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.39%. While Japan's Nikkei and Hong Kong's Hang Seng were trading higher by 500 points, Shanghai, Strait Times, SGX Nifty and KOSPI index were gaining marginally.

On Wall Street, Dow Jones Industrial Average rose 417.1 points, or 1.45%, to 29,224.73. The S&P 500 gained 1.13% to a record close of 3,334.69 while the NASDAQ Composite added 0.43% to 9,508.68, also a record high.

Shares of rate sensitive stock under focus

10: 10 AM

Shares of rate sensitive companies will be in focus toay as the central bank's six member Monetary Policy Committee will be announcing its decision on repo rate and the reverse repo rate. Realty, banking and auto shares are likely to react with the outcome of the meet.

Stocks to watch today on February 6

9: 45 AM

Sun Pharma, Adani Power, Eicher Motors, RITES, Hero MotoCorp, Aurobindo Pharma among others are the top stocks to watch out for in Thursday's trading session

Earnings Today

9: 30 AM

Sun Pharma, Adani Power, United Bank, United Breweries, Eicher Motors, RITES, Hero MotoCorp, Aurobindo Pharma, Indraprastha Gas, Bata, Advanced Enzyme Technologies, Aditya Birla Fashion and Retail, ICRA, IDFC, Hind Rectifiers, Glaxosmithkline Consumer Healthcare, Metropolis Healthcare, Minda Corporation, Khadim India, NMDC, Rane Holdings, SKF India among others will release their quarterly earnings today.

Opening Bell

9: 20 AM

Sensex and Nifty opened higher on Thursday, tracking overseas trend, and traded 0.20% higher, ahead of the outcome of RBI's MPC meet today. BSE 30-share S&P Sensex traded 120 points higher at 41,249 and NSE 50-share index Nifty50 rose 35 points higher at 12,123. In terms of sectors, except financials and realty, all the indices traded in the green, with pharma index rising over 1%.

Last Close

9: 00 AM

Equity market benchmarks Sensex and Nifty gained strongly on Wednesday, tracking overseas trend, and closed 0.90% higher. BSE 30-share S&P Sensex closed 170 points higher at 40,970 and NSE 50-share index Nifty50 ended 55 points higher at 12,035. In terms of sectors, except media, all the indices closed in the green, with realty index rising over 2%.