Sensex gains 879 pts as lockdown measures ease, Nifty PSU Bank jumps 7.6%

All that happened in the markets today

4:07 PM

MARKET COMMENT:: Vinod Nair- Head of Research- Geojit Financial Services

Markets ended positive, in sync with global cues, after relief over the opening up of the economy with some restrictions. All major sectoral indices were positive, with the banking index leading the gains. The positive sentiment is being driven by hope of situation getting back to normalcy, aided by the steady opening up of the economy and further stimulus measures to boost demand. Economic data coming in over the next 2 days may have an impact.

3:44 PM

SECTOR WATCH | All sectoral indices on the NSE end in the green

3:43 PM

MARKET AT CLOSE:: Gainers and losers on the S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex rallied 879 points or 2.71 per cent to 33,303.52 levels and the Nifty50 ended at 9,826, up 246 points or 2.57 per cent.

3:24 PM

Biocon rallies 6%, hits record high on favourable ruling from US PTAB

Shares of Biocon rallied 6 per cent to hit a record high of Rs 377 on the BSE on Monday after its partner Mylan received a favourable ruling from US Patent and Trademark Appeal Board (PTAB) on Sanofi’s four device patents for Lantus SoloSTAR. The stock surpassed its previous high of Rs 368 touched on April 20, 2020. READ MORE 

3:16 PM

NEWS ALERT :: MCX restores trading timings of international agri commodities to 9.00 pm

>> New timings will be effective from tomorrow, June 2.

>> Says, there will be no change in timings for other commodities

3:12 PM

Ultratech Cement dips over 3% from day's high

3:10 PM

MARKET UPDATE :: Shoppers Stop, IDBI Bank are among 368 stocks that were locked in upper circuit on the BSE today

>> Others notable names include Canara Bank, HEG, KEI Industries, Adani Green Energy and Balrampur Chini Mills 

3:07 PM

NEWS ALERT :: Cabinet briefing has been rescheduled at 4 pm

3:06 PM

NEWS ALERT

3:05 PM

NEWS ALERT

3:00 PM

NEWS ALERT :: Max India sets June 15 as record date after NCL approves demerger

2:53 PM

Internet speed to power: Weekly indicators show economy is picking up

The Indian Railways carried more goods and the internet speed held up—early signs about how an economy is doing. Business Standard tracks indicators because they appear with greater frequency than regular macroeconomic numbers like Gross Domestic Product (GDP) or trade data. READ MORE

2:47 PM

MARKET UPDATE | Nifty PSU Bank index jumps 7.62%

2:41 PM

NEWS ALERT :: Expect monsoon rain to be 102% of Long Term Average, says MeT Dept

>> Expect normal monsoon this year

>> 5% chance of deficient monsoon rains this year, 25% chance of above-normal rains

(As reported by CNBC TV18)

2:37 PM

Corporation tax rate cut may save the day for Britannia in Q4, say analysts

Emkay Global Financial Services estimates a volume decline of 7 per cent in the domestic business and 5 per cent growth in subsidiary revenues. Moderation in wheat and skimmed milk powder (SMP) prices along with lower crude prices to maintain gross margins while cost savings and lower ad spend will aid sustain operating margins, it notes. READ MORE

2:29 PM

Japan, South Korea factory output worsens in May amid Covid-19: PMI data

China's Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) hit 50.7 last month, marking the highest reading since January as easing of lockdowns allowed companies to get back to work and clear outstanding orders.

 

But with many of China's trading partners still restricted, its new export orders remained in contraction, the private business survey showed on Monday. China's official PMI survey on Sunday showed the recovery in the world's second-largest economy intact but fragile. READ MORE

2:19 PM

Auto stocks in top gear despite sales de-growth due to Covid-19

The S&P BSE Auto index has beaten the benchmark index for second straight month in May. This is despite the industry heading for another year of double-digit sales decline this fiscal given the lockdown to contain the Covid-19 pandemic. In May, the S&P BSE Auto index gained 5.6 per cent as compared to 3.8 per cent decline in the S&P BSE Sensex. READ MORE

2:14 PM

Nifty sectoral indices at this hour

1:58 PM

NEWS ALERT

1:52 PM

Japan, South Korea factory output worsens in May amid Covid-19: PMI data

Asia's factory pain deepened in May as the slump in global trade caused by the coronavirus pandemic worsened, with export powerhouses Japan and South Korea suffering the sharpest declines in business activity in more than a decade. A series of manufacturing surveys released on Monday suggest any rebound in businesses will be some time off, even though China's factory activity unexpectedly returned to growth in May. READ MORE

1:46 PM

MARKET UPDATE :: Sensex off day's high, still up 850 pts

1:35 PM

NEWS ALERT | PVR board to meet on June 8 to consider raising funds via equity: Exchange filing

1:34 PM

IndiGo Q4 preview: Analysts see loss up to Rs 2,600 cr amid Covid-19 outbreak

“We forecast capacity growth of 5 per cent, traffic growth of 3.2 per cent, and a load factor of 84.7 per cent, down 1.3 pts year-on-year (YoY). That apart, we forecast passenger yield per RPK to decline by 7.5 per cent YoY, partly due to the strong base impact. Along with the traffic growth, we forecast total operating revenue to decline by 3.2 per cent YoY,” wrote Achal Kumar, analyst at HSBC, along with Andrew Lobbenberg and Parash Jain in an earnings expectation’s note. READ MORE

1:25 PM

Mutual funds looking at launching low-volatility products for investors

Mutual funds (MFs) are looking at launching low-volatility products — equity, as well as hybrid — to give investors alternatives in the current market environment. ICICI MF recently filed for an exchange-traded fund (ETF) that will track the Nifty Alpha Low-Volatility 30 Index. READ MORE

1:16 PM

Southwest Monsoon hits Kerala; Met dept's region-wise forecast today

The southwest monsoon has arrived over Kerala, marking the start of a four-month long rainfall season, said the India Meteorological Department (IMD) said on Monday.

 

The four-month monsoon season from June to September accounts for 75 per cent of rainfall in the country. READ MORE

1:14 PM

GLOBAL MARKET UPDATE:: Europe opens higher

1:03 PM

May Auto Sales | M&M's domestic sales down 79% YoY

12:55 PM

Broader market outperforms in May for the first time since January

For the first time since January, the three key indices representing the broader market — Nifty 500, Nifty Midcap 100, and Nifty Smallcap 100 — outperformed the benchmark Nifty 50 index. Though the broader markets delivered negative returns, the fall was less compared to the benchmark.  READ MORE

12:45 PM

Adani Power shares surge 10% as Gautam Adani plans to delist Co

Presently, the Promoter Group collectively holds 74.97 per cent of the paid-up equity share capital of Adani Power. Public shareholders hold the remaining 25.03 per cent stake in the company, of which 12.35 per cent is with foreign portfolio investors and 7.40 per cent holding's with other institutional investors. READ MORE