Indices gain for 2nd day in a row, Sensex up 429 pts; India VIX drops 6%

All that happened in the markets today

4:00 PM

MARKET COMMENT:: Vinod Nair, Head of Research at Geojit Financial Services

"The Indian indices traded in sync with global cues and ended the day with gains. The gains were supported by IT and Auto indices. Global indices were positive following news of encouraging trials of a vaccine being developed for the virus. Global markets are awaiting US employment figures, due out later today, to see the progress of the US economy and its resultant impact on global economic growth. Indian benchmark indices have sustained their momentum while upsides seem to be limited. Investors are advised to watch out for any signs of trend reversal and keep booking short-term profits."

3:44 PM

SECTOR WATCH:: Here's how sectoral indices on the NSE performed today

3:42 PM

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

3:36 PM

CLOSING BELL

The S&P BSE Sensex climbed 429 points or 1.2 per cent to end at 35,844 while NSE's Nifty settled at 10,552, up 122 points or 1.17 per cent.

3:27 PM

MARKET CHECK

3:20 PM

BROKERAGE VIEW:: Centrum Broking on ONGC

Our assumptions factor slightly higher production estimates coupled with IndAS impact on other expenses which drives an increase in EBITDA by +3.5/+1.5% for FY21/22E. However, PAT still sees a sharp decline of 14.2/8.6% because of higher depreciation and interest costs coupled with lower other income than our earlier estimates.  Maintain ADD

3:07 PM

ALERT :: Dow Jones Futures climb nearly 400 pts

3:06 PM

NSE Indices launches Nifty BHARAT Bond Indices - April 2025 & April 2031 series

NSE’s index services subsidiary, NSE Indices Limited has today launched two more indices under the Nifty BHARAT Bond Index series.

 

The BHARAT Bond Index series follows a unique Target Maturity Date structure wherein each index in the series measures the performance of a portfolio of AAA rated bonds issued by government owned entities maturing in a specific year. The following two new indices have been launched today within the Nifty BHARAT Bond Index series:

• Nifty BHARAT Bond Index - April 2025
•  
• Nifty BHARAT Bond Index - April 2031

 

In Dec 2019, NSE Indices had launched the first two indices in the BHARAT Bond Index series with maturities in April 2023 and April 2030.

 

“The BHARAT Bond ETFs, tracking the Nifty BHARAT Bond Index series, have been successful in increasing retail participation in corporate bond market with more than 50000 retail investors participating in the first two ETFs launched in December 2019. NSE is glad to continue working with Department of Investment and Public Asset Management (DIPAM), Government of India, Edelweiss AMC and other stakeholders in launching more indices within the unique BHARAT Bond Index series that will be tracked by the upcoming tranches of BHARAT Bond ETF” said Mr. Vikram Limaye, MD & CEO, NSE.

(Source: NSE press release)

2:58 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
BAYER CROP SCI.	6150.00	6166.90	2.93
GUJARAT GAS	320.80	330.00	-1.75
IDBI BANK	48.20	48.20	4.90
JUBILANT LIFE	678.80	697.00	2.18
NAVIN FLUO.INTL.	1677.20	1728.55	-0.88

2:55 PM

Limited gains for ONGC as coronavirus crisis, oil price spat continue

The lower oil and gas realisations, sharp jump in operating expenses, higher than expected DD&A (depletions, depreciation & amortization) expenses and impairments caused by the coronavirus outbreak hurt the company’s earnings.

 

The company’s crude realisations at $49 a barrel during the March quarter were 20.9 per cent lower year-on-year ($61.93 a barrel during year-ago quarter). The gas prices at $3.23 per mmmbtu (metric million British thermal unit) too were lower by about 4 per cent year-on-year. READ MORE

2:48 PM

Commercial vehicle sales lag as coronavirus outbreak pulls down economy

Medium and Heavy Commercial Vehicles (M&HCV) volumes dropped nearly 92 per cent YoY during the first quarter of Financial Year 2020-21 and Light Commercial Vehicles (LCV) volumes plunged 87 per cent YoY.

 

Tata Motors, India’s largest CV maker, said domestic volume in the first quarter of the financial year dropped nearly 90 per cent to 9,274 units from 94,934 units during the same period last year. The company did not share monthly volumes. READ MORE

2:40 PM

IT shares extend gain; Infosys rallies 9%, TCS surges 7% in one week

In the management commentary, Accenture on Friday, June 26 said it expects a decline in IT budgets due to the weak economic growth outlook. However, spends on digital transformation will increase, offset by lesser spend on running operations. Accenture will transform run operations providing cost savings, which will be invested back into digital transformation. READ MORE 

2:32 PM

Prospective investors indicate appetite for YES Bank FPO at discount

During roadshows, investors said they were keen to invest in the FPO. Considering the huge bad debt saddled with the bank, they would be able to invest at a significant discount to the current market price. On Wednesday, the YES Bank stock closed at Rs 26.95 a share. READ MORE

2:19 PM

Hero MotoCorp surges 5%, hits over 7-month high as June sales jump 4x MoM

The two-wheeler bellwether on Wednesday posted a 27 per cent year-on-year decline in wholesale dispatches for June at 4.5 lakh units. The company’s volumes jumped four-fold on a sequential basis from 112,692 units in May. The company said that much of the demand is being supported by rural and semi urban areas. While wholesale dispatches are at around 90 per cent of pre Covid levels, retail volumes are at 60 per cent of pre-Covid levels currently, it said. READ MORE 

2:16 PM

Rupee closing

Rupee ends higher at 75.01/$ vs Wednesday's close of 75.59 against the US dollar