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A photo of Bombay Stock Exchange, Mumbai.
A photo of Bombay Stock Exchange, Mumbai.

Sensex pares most gains to end 167 points higher; Airtel soars 11%

  • 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

Market closing

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

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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

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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%

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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

Sensex update

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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%

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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

Market update

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

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19 May 2020, 10:57:58 AM IST

BSE MidCap shares mixed

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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

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19 May 2020, 09:32:34 AM IST

Sensex view: Most shares up

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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

Market opening

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.

19 May 2020, 08:44:33 AM IST

Stocks to watch today

Bharti Airtel, Bajaj Finance, PVR, Vedanta, Coal India, Tata Consumer Products, GlaxoSmithKline Pharma and Apollo Tyres.

19 May 2020, 08:40:13 AM IST

S&P 500, Dow Jones rise 3-4%

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.

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