Sensex pares most gains to end 167 points higher; Airtel soars 11%
7 min read.Updated: 19 May 2020, 03:36 PM ISTIshita Guha
Nifty Bank, which had rebounded sharply from Monday's losses during the day, settled 0.5% lower. Both Nifty Metal and Auto rose over 1% each. BSE MidCap added 0.5%, while BSE SmallCap fell 0.2%
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19 May 2020, 03:32:26 PM IST
Indian equities pared most of their intraday gains but managed to close higher, amid a volatile session. Bharti Airtel, which surged more than 11%, was the biggest contributor to the bull run. The market had opened firm, tracking Asian and Wall Street stocks, which had rallied as investors pinned their hopes to a vaccine that could be a potential solution to the coronavirus disease.
While the Sensex rose 167.19 points, or 0.6%, to 30,196.17, Nifty 50 ended 55.85 points, or 0.6%, higher at 8,879.10.
Nifty Bank swung between gains and losses, with fall in IndusInd Bank, Bank of Baroda, Bandhan Bank offsetting the rise in heavyweights Kotak Mahindra Bank and ICICI Bank.
19 May 2020, 03:21:03 PM IST
Nifty top gainers, losers
Bharti Airtel was the best performer today, rising nearly 12%, followed by ONGC, Adani Ports, Bharti Infratel and Ultratech Cement among Nifty stocks, while UPL, Vedanta, Reliance, IndusInd Bank and Larsen & Toubro fell the most.
19 May 2020, 03:17:23 PM IST
Asian markets end higher
Major stocks in Asia managed to hold gains and settled higher due to optimism over a potential vaccine to treat coronavirus that could lead to quick recovery in economies. Japan's Nikkei 225 was up 1.5%, while South Korea's Kospi gained over 2% and Hang Seng index in Hong Kong added 1.8% in today's session.
19 May 2020, 03:11:14 PM IST
Nifty Bank extends losses
19 May 2020, 03:08:59 PM IST
Natco Pharma rises nearly 3%
The pharmaceutical company has donated chloroquine phosphate tablets via its marketing partner, Rising Pharmaceuticals, in the US to protect frontline healthcare workers from the covid-19 infection. The stock was up 2.7% at ₹601.50 on the BSE.
19 May 2020, 02:59:49 PM IST
Crisil reaffirms rating for PNB Gilts' CP
Crisil has reaffirmed the credit rating of CRISIL A1+ for commercial paper (CP) programme worth ₹500 of PNB Gilts. Shares of the company fell 2.4% to ₹24.15 on the BSE.
19 May 2020, 02:55:36 PM IST
Godfrey Phillip's arm resumes partial operations
The company's wholly-owned subsidiary, International Tobacco Company, which manufactures exclusively for the firm on a contract basis, has partially resumed its cigarette making operations at the Ghaziabad plants. However, Godfrey Phillips India's own cigarette factory in Maharashtra and pan masala plant in Uttar Pradesh remain closed.
19 May 2020, 02:37:07 PM IST
Nifty Bank off 700 points from day's high
19 May 2020, 02:07:08 PM IST
Rupee closes higher
The Indian rupee settled higher at 75.64 against the US dollar, compared to Monday's close of 75.91.
19 May 2020, 01:35:43 PM IST
Nifty Auto rises nearly 2%
19 May 2020, 01:32:39 PM IST
European markets open in the green
Europe's major stocks continued their rise in opening deals on Tuesday, mirroring Asian gains on hopes for a vaccine to treat coronavirus. At the opening bell, London's benchmark FTSE 100 index of major blue-chip firms rose 0.7% to 6,091.64 points, compared with Monday's close. In the eurozone, Frankfurt's DAX 30 index won 1.0% to 11,174.37 points and the Paris CAC 40 added 0.5% to 4,519.24.
19 May 2020, 01:29:46 PM IST
19 May 2020, 01:22:19 PM IST
Lincoln Pharma gets Germany FDA nod
The pharma company has received the European Union (EU) GMP (good manufacturing practice) certificate from Germany FDA for its facility at Gujarat's Khatraj. The certification will allow the company to market its products in all the 27 member countries of the EU and give access to European Economic Area (EEA) nations.
19 May 2020, 01:17:10 PM IST
NBFCs more vulnerable to covid-19 vs banks: Moody's
Disruptions caused by the coronavirus pandemic will lead to further deterioration in asset quality of non-banking finance companies (NBFCs), a segment that is more exposed to the downturn than banks, said according to a report by Moody’s Investors Service.
19 May 2020, 12:48:06 PM IST
Laurus Labs receives US FDA approval
The drug maker has received an approval from the US Food and Drug Administration (FDA) under President's Emergency Plan for AIDS Relief (PEPFAR) for two abbreviated new drug applications (ANDAs), TLE 400 and TLE 600 tablets. The stock of the company jumped 5.8% to ₹450.45 on the BSE.
19 May 2020, 12:39:49 PM IST
Lupin launches drug for ulcerative colitis
The pharmaceutical major announced the launch of authorised
generic version of Bausch Health’s Apriso, mesalamine extended-release capsules, in the US. The drug is used in the remission of ulcerative colitis in patients 18 years of age and older. The stock slipped 0.6% to ₹852.40 on the BSE.
19 May 2020, 12:34:01 PM IST
Nifty Metal gains 2.5%
19 May 2020, 12:31:21 PM IST
TCS launches product to conduct exams
The IT services provider announced the launch of 'Remote Assessments' (RA), which enables universities and exam boards to conduct secure, free and fair examinations, in a remote model.
The coronavirus pandemic has affected exam schedules of education institutions and RA will address these challenges by enabling students to appear for exams from home or anywhere.
19 May 2020, 12:26:22 PM IST
Singapore govt buys stake in AU Small Finance Bank
Shares of AU Small Finance Bank rose more than 4% as the Singapore government bought 1.9 million shares, or 0.65%, of the bank's equity at ₹414.6 per share, according to bulk deal data on the National Stock Exchange.
19 May 2020, 12:01:14 PM IST
Benchmark Indian stocks extended early gains and traded higher in the morning. However, they were off the day's high by noon. While the Sensex was up 600.25, or 2.0%, 30,629.23 points, Nifty 50 rose 172.35 points, or 1.9%, to 8,996.60.
19 May 2020, 11:54:23 AM IST
Nifty top gainers, laggards
Bharti Airtel, ONGC, JSW Steel, Adani Ports and Tata Motors were the top gainers on Nifty 50, while UPL, Vedanta, Hindustan Unilever, Cipla and Britannia led the losses.
19 May 2020, 11:26:48 AM IST
Rupee near day's high
The Indian rupee extended gains and traded near the day's high of 75.66 against the US dollar, amid bullish sentiment in the domestic equity market. The currency had closed at 75.91 per dollar on Monday.
19 May 2020, 11:23:24 AM IST
Alembic Pharmaceuticals gets US FDA nod
Alembic Pharmaceuticals said its joint venture, Aleor
Dermaceuticals (Aleor), received approval from the US Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA), Clobetasol Propionate Shampoo. Shares of the firm declined a marginal 0.2% to ₹879 on the BSE.
19 May 2020, 10:58:55 AM IST
BSE SmallCap update
19 May 2020, 10:57:58 AM IST
BSE MidCap shares mixed
19 May 2020, 10:56:23 AM IST
Gold price update
Gold rose on Tuesday, underpinned by Sino-US trade friction and global stimulus although promising early-stage data for a potential covid-19 vaccine spurred some risk appetite, keeping prices below a more than 7-year high hit in the last session. Spot gold was up 0.2% at $1,735.83 per ounce by 0349 GMT. US gold futures gained 0.3% to $1,739.80.
19 May 2020, 10:45:58 AM IST
Vedanta's down as board clears delisting
Shares of Vedanta fell as much as 2% in early deals as the board of mining company approved the proposed delisting of the Anil Agarwal-led flagship Indian unit from the stock exchanges. Agarwal last week had announced the intention to acquire publicly-held shares of the company.
19 May 2020, 10:20:44 AM IST
Rupee opens higher
The Indian rupee opened at 75.78 against the US dollar, compared to the previous close of 75.91.
19 May 2020, 10:10:03 AM IST
Bharti Airtel soars nearly 9%
Shares of Bharti Airtel surged 8.8% to ₹585.45 on the BSE as investors took cues from strong revenue earnings and other numbers posted for the March quarter. The firm, however, reported a loss of ₹5,237 crore in the March quarter of fiscal 2020, its fourth successive quarterly loss, due to a one-time charge of ₹7,004 crore on account of the Supreme Court (SC) verdict on the definition of adjusted gross revenue (AGR).
19 May 2020, 09:34:03 AM IST
Nifty sectoral indices check
19 May 2020, 09:32:34 AM IST
Sensex view: Most shares up
19 May 2020, 09:30:01 AM IST
Airtel mulls final dividend for FY20
The board of Bharti Airtel has considered and recommended a final dividend of ₹2 per equity share of face value of ₹5 each for the financial year 2019-20.
19 May 2020, 09:20:02 AM IST
Indian equity market opened higher, tracking global markets. The benchmark Sensex rose 425.29 points, or 1.4%, to 30,454.27, while the Nifty 50 index gained 123.50 points, or 1.4%, to 8,946.75.
19 May 2020, 09:13:04 AM IST
Biocon arm receives GMP certificate
Bicon said its subsidiary, Biocon Biologics India, has received
the certificate of GMP (good manufacturing practices) compliance from European Medicines Agency (EMA) for multiple Biologics drug substance (DS) and drug product (DP) manufacturing facilities at Biocon Park in Bengaluru.
19 May 2020, 09:01:25 AM IST
Asian stocks firm, SGX Nifty up 2%
Major markets in Asia were in the green in early deals, driven by the rally on Wall Street on positive results of a potential vaccine to treat coronavirus, leading to hopes of a quick economic recovery. Japan's Nikkei 225, Kospi in South Korea, Hang Seng in Hong Kong and SGX Nifty gained 1.5%-2%.
19 May 2020, 08:55:21 AM IST
Crude oil update
Oil extended gains to a fourth day, trading above $32 a barrel. The US benchmark, West Texas Intermediate (WTI) crude, climbed 1.8% to $32.38 a barrel.
The Dow Jones Industrial Average rose 911.95 points, or 3.85%, to 24,597.37, the S&P 500 gained 90.21 points, or 3.15%, to 2,953.91 and the Nasdaq Composite added 220.27 points, or 2.44%, to 9,234.83. The benchmark S&P 500 notched its biggest one-day percentage gain since April 8, with all 11 major S&P sectors higher.
19 May 2020, 08:31:06 AM IST
Wall Street indices rally
US stocks jumped on Monday, and the S&P 500 closed at a 10-week high, on encouraging early-stage data for a potential coronavirus vaccine and on the promise of more stimulus to lift an economy beaten down by the pandemic. Drugmaker Moderna Inc surged 19.96% after the company said its experimental covid-19 vaccine showed promising results in a small early-stage trial. After rallying more than 32% from a multi-year low hit in March, the S&P 500 had been trading in a tight range in May as investors weighed the hopes of an economic recovery against the fears of another wave of infection as states lifted virus-led lockdowns.