MARKET: Sensex ends 290 pts up as financials rally; Nifty settles at 10,116
All that happened in the markets today
 "BSE Sensex")
India VIX, the volatility gauge, slipped nearly 3 per cent to 29.35 levels (Photo: Kamlesh Pednekar)
The domestic equity market ended Wednesday's volatile session in the positive territory, supported by last-minute buying in counters such as Reliance Industries (RIL), HDFC, TCS, ICICI Bank, and IndusInd Bank.
The S&P BSE Sensex ended the day at 34,247.05, up 290 points or 0.86 per cent with IndusInd Bank (up nearly 8 per cent) being the top gainer and Hero MotoCorp (down nearly 4 per cent) the biggest loser.
NSE's Nifty ended at 10,116, up 69.50 points or 0.69 per cent. Of 50 constituents, 28 advanced and 22 declined. India VIX, the volatility gauge, slipped nearly 3 per cent to 29.35 levels.
Meanwhile, traders also awaited the outcome of the US Federal Reserve's two-day rate-setting meeting, due later in the day. The Fed's statement on the economic outlook is expected to be a key factor in swaying investor sentiment for the next few days.
In the broader market, the S&P BSE MidCap index gained nearly 0.81 per cent to 12,659.34 levels while the S&P BSE SmallCap index climbed 0.92 per cent to 11,955.04-mark.
Sectorally, PSU bank stocks advanced the most with the Nifty PSU Bank index jumping 3.5 per cent to 1,395.05 levels. NIfty Bank ended 1.81 per cent higher at 21,100 levels while NIfty Realty index gained nearly 2 per cent to 206.60. On the flip side, Nifty Auto declined over 1 per cent to 6,502.65 levels.
Buzzing stocks
In the broader market, the S&P BSE MidCap index gained nearly 0.81 per cent to 12,659.34 levels while the S&P BSE SmallCap index climbed 0.92 per cent to 11,955.04-mark.
Sectorally, PSU bank stocks advanced the most with the Nifty PSU Bank index jumping 3.5 per cent to 1,395.05 levels. NIfty Bank ended 1.81 per cent higher at 21,100 levels while NIfty Realty index gained nearly 2 per cent to 206.60. On the flip side, Nifty Auto declined over 1 per cent to 6,502.65 levels.
Buzzing stocks
Shares of Panacea Biotec hit a 20 per cent upper circuit of Rs 203 on the BSE after the company said it has inked a pact with US firm Refana for Covid-19 vaccine. The collaboration will enable global development, manufacturing and distribution of the Covid-19 vaccine. READ MORE
Jubilant Life Sciences extended its seven-day rally and surged 12 per cent to Rs 625 on the BSE during the day after the company reported strong earnings for the quarter ended March 2020 (Q4FY20). The stock ended at Rs 601, up over 8 per cent. The company reported a 92 per cent year-on-year (YoY) jump in normalised profit after tax at Rs 260 crore in Q4FY20, as against Rs 135 crore in Q4FY19. Revenue from operations remained flat at Rs 2,391 crore, as compared to Rs 2,386 crore in the previous year quarter. READ MORE
Tata Consultancy Services (TCS) extended its gains into third straight day and hit a three-month high of Rs 2,127 during the day ahead of the company’s scheduled annual general meeting (AGM) on June 11, 2020. The stock settled at Rs 2,108.30, up 1.7 per cent. READ MORE
Global markets
Jubilant Life Sciences extended its seven-day rally and surged 12 per cent to Rs 625 on the BSE during the day after the company reported strong earnings for the quarter ended March 2020 (Q4FY20). The stock ended at Rs 601, up over 8 per cent. The company reported a 92 per cent year-on-year (YoY) jump in normalised profit after tax at Rs 260 crore in Q4FY20, as against Rs 135 crore in Q4FY19. Revenue from operations remained flat at Rs 2,391 crore, as compared to Rs 2,386 crore in the previous year quarter. READ MORE
Tata Consultancy Services (TCS) extended its gains into third straight day and hit a three-month high of Rs 2,127 during the day ahead of the company’s scheduled annual general meeting (AGM) on June 11, 2020. The stock settled at Rs 2,108.30, up 1.7 per cent. READ MORE
Global markets
World stock markets hovered below three-month highs on Wednesday, while the dollar stumbled ahead of a meeting of the US Federal Reserve.
European stock markets gained 0.8% in early trade, but held below three-month highs. MSCI’s broadest index of Asia-Pacific shares outside Japan, which has galloped 9 per cent higher in June and is 35 per cent above March lows, rose 0.4 per cent. Japan’s Nikkei added 0.15 per cent.
In commodities, oil fell more than 1 per cent towards $40 a barrel after a report showed a rise in crude inventories in the United States, reviving concerns about oversupply and weak demand due to the coronavirus crisis.
The report from the American Petroleum Institute, an industry group, said crude stocks rose by 8.4 million barrels, rather than falling as analysts forecast.
(With inputs from Reuters)
3:44 PM
SECTOR WATCH:: Nifty PSU Bank index jumps 3.5%
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 rallied 290 points or 0.86 per cent to end at 34,247.05 while NSE's Nifty ended at 10,116, up 69.50 points or 0.69 per cent.
3:28 PM
MARKET CHECK
3:21 PM
BUZZING STOCK:: IndusInd Bank zooms 10%
3:11 PM
» More on 52 Week High
Stocks that hit 52-week high on BSE today
| COMPANY | PRICE(rs) | 52 WK HIGH | CHG(%) |
|---|---|---|---|
| ADANI GREEN | 328.35 | 328.35 | 4.99 |
| AUROBINDO PHARMA | 793.95 | 797.20 | 2.41 |
| DHANUKA AGRITECH | 623.00 | 651.55 | 4.21 |
| DR REDDY'S LABS | 4104.05 | 4189.35 | -0.50 |
| GMM PFAUDLER | 4490.00 | 4700.00 | -0.19 |
3:08 PM
Top losers on the BSE at this hour
3:00 PM
ECB prepares 'bad bank' plan for wave of coronavirus toxic debt, reports Reuters
European Central Bank officials are drawing up a scheme to cope with potentially hundreds of billions of euros of unpaid loans in the wake of the coronavirus outbreak, two people familiar with the matter told Reuters. The project, which comes as Europe mobilises trillions of euros to bolster the region’s economy, is aimed at shielding commercial banks from any second fallout from the crisis, if rising unemployment chokes off the income needed to repay loans.
2:55 PM
Click here for the full list
Fall from intra-day highs today
| COMPANY | DAY'S HIGH(RS) | DAY'S LOW(RS) | LATEST(RS) | FALL(%) |
|---|---|---|---|---|
| JINDAL STAIN. | 36.50 | 31.70 | 32.20 | -11.78 |
| SHRI.CITY UNION. | 759.95 | 674.40 | 683.25 | -10.09 |
| INOX LEISURE | 259.70 | 231.40 | 234.95 | -9.53 |
| DEWAN HSG. FIN. | 17.75 | 16.15 | 16.15 | -9.01 |
| RAYMOND | 316.00 | 289.00 | 289.00 | -8.54 |
2:54 PM
RIL, TCS support indices at this hour
2:46 PM
Challenge for us is supply chain rather than demand: Maruti's R C Bhargava
Maruti Suzuki, the country’s largest carmaker, expects demand for its passenger cars to outstrip supply in the months of June and July as it faces challenges in ramping up production amid the Covid-19 pandemic. “We will not be able to assemble more than 30-40 per cent of what is normal production in June. READ MORE
2:38 PM
NEWS ALERT :: Bank of Baroda cuts lending rates by 15 bps across all tenors
2:36 PM
IOC aims to operate refineries at 90% capacity in June as demand recovers
Indian Oil Corp, the country's top refiner, aims to operate its refineries at an average 90% capacity in June as fuel demand recovers with the easing of a coronavirus lockdown, the company said on Wednesday. IOC, which along with subsidiary Chennai Petroleum Corp, controls about a third of India's 5 million barrels per day (bpd) refining capacity, is operating its plant at about 83% capacity, a sharp increase from 39% at the beginning of April. READ MORE
2:30 PM
MARKET VOICE | Shyam Sekhar
2:22 PM
Investment pipeline charts a different course on its way to India
While the over $10 billion raised by Reliance Industries for its Jio Platforms has become the face of this recent flow, there is some serious money raising happening in the infrastructure space as well. Tata Power has joined Larsen & Toubro, Sterlite and Piramal Enterprises to create investment trusts for operational infrastructure assets, all of which have already attracted investments from abroad. This was a space in which investment inflows were most sluggish. READ MORE
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First Published: Jun 10 2020 | 7:39 AM IST
