On Nifty, 10 stocks advanced while 39 ended lower. On Sensex, only 6 stocks were higher, with Asian Paints the top gainer
All Nifty sectoral indices, barring Nifty FMCG, ended lower for the day
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24 Jun 2020, 03:50:12 PM IST
Profit booking drags down Sensex, Nifty
A heavy bout of profit booking dragged down benchmark equity indices on Wednesday which had surged at open. Trade was volatile ahead of the expiry of June series derivative contracts on Thursday.
While the Sensex closed 1.58% lower at 34,868.98 points, the Nifty fell 165 points to end at 10,305.30. Sensex had touched an intra-day high of 35,707.
Top gainers on the Nifty were Asian Paints, ITC Ltd, Eicher Motors, Hero MotoCorp and Gail (India) Ltd, while IndusInd Bank, ICICI Bank, Power Grid, Hindalco and ZEEL fell the most.
About 1,245 stocks advanced, 1,429 declined, and 134 shares were unchanged.
Among sectors, banks, metals and pharma were the worst hit, down 2-3%, while BSE Midcap and Smallcap fell 1% each.
24 Jun 2020, 03:30:58 PM IST
IOC reports net loss of ₹51.8 bln in Q4
Indian Oil Corp Ltd, the country's top refiner, reported a net loss of ₹51.85 billion for the March quarter, hurt by higher inventory losses. The state-owned company had reported a net profit of ₹60.99 billion a year earlier.
Revenue from operations fell 2.7% to ₹1.4 trillion.
24 Jun 2020, 03:26:08 PM IST
Govt calls in army to run COVID-19 facilities in railway coaches in Delhi: Report
The Indian government has called in the army to manage new treatment centres with thousands of additional hospital beds in New Delhi as coronavirus cases surge, Reuters reported Wednesday. The country reported a record 16,000 new cases in the past 24 hours.
At more than 456,000 confirmed coronavirus cases so far, India is the fourth worst hit country in the world, behind the United States, Brazil and Russia, according to a Reuters tally.
24 Jun 2020, 03:20:09 PM IST
Cabinet approves 2% interest subvention for Shishu loans
Union Cabinet approves 2% interest subvention to Shishu loan category borrowers under PM Mudra Yojna, said Union minister Prakash Javadekar.
24 Jun 2020, 03:09:37 PM IST
Urban, multi-state cooperative government banks to come under RBI supervision
Cabinet has approved an ordinance with respect to urban co-operative Banks and multi-state co-op banks, said Prakash Javadekar, Union Cabinet Minister.
The decision to bring 1,540 cooperative banks under RBI's supervision will give an assurance to more than 8.6 crore depositors in these banks that their money amounting to ₹4.84 lakh crore will stay safe, the minster added.
24 Jun 2020, 03:03:50 PM IST
Fuel price hikes boost excise collection: Report
Excise collection from diesel/petrol seen around ₹40,000 cr in April-May, with 16.1% fuel excise duty collection achieved in first 2 months of FY21, CNBC TV18 reported, citing sources.
24 Jun 2020, 02:56:10 PM IST
Nifty sectoral indices
24 Jun 2020, 02:51:21 PM IST
Sensex at 35,020 - near day's low
24 Jun 2020, 02:44:05 PM IST
India, China holding diplomatic talks to ease border tension: PTI
India and China are holding diplomatic talks through video conference on Wednesday to explore ways to ease tension along the Line of Actual Control in the Ladakh region, a PTI report said, citing officials.
The talks are scheduled to be held between Joint Secretary (East Asia) in the Ministry of External Affairs Naveen Srivastava and Director General in the Chinese Ministry of Foreign Affairs Wu Jianghao, they said.
The two sides held their first diplomatic talks in June.
The talks are being held two days after Chinese and Indian armies arrived at a "mutual consensus" to "disengage" from all the friction points in eastern Ladakh.
24 Jun 2020, 02:36:13 PM IST
Johnson & Johnson asked to pay $1.2 bln for sale of cancer-causing talc
A US court has upheld a verdict that talcum powder sold by Johnson & Johnson caused ovarian cancer and ordered the pharmaceutical giant to pay $2.1 billion in damages, according to news agency AFP.
24 Jun 2020, 02:33:53 PM IST
ICMR says over 2 lakh coronavirus samples tested in last 24 hours
Over 2 lakh coronavirus tests conducted in last 24 hours, the Indian Council of Medical Research (ICMR) said on Wednesday. Total number of cases in the country rose up to 4.56 lakh.
In the past 24 hours, about 2,15,195 samples were tested taking the total to 73,52,911.
24 Jun 2020, 02:31:01 PM IST
Massive fire reported in Gujarat's Sanand
A massive fire raged on Wednesday in Ahmedabad's Sanand estate of the Gujarat Industrial Development Corporation (GIDC), engulfing an entire diaper making factory, IANS reported. No casualty has been reported yet.
24 Jun 2020, 02:19:57 PM IST
Gold nears 8-year high on safe haven demand
Gold soared to its highest level in nearly eight years on Wednesday as safe-haven demand was boosted by worries over a surge in coronavirus infections and hopes of more stimulus measures to combat the economic blow.
Spot gold was up 0.1% at $1,768.50 per ounce after touching $1,773, its highest level since October 2012.
US gold futures rose 0.2% to $1,785.50.
24 Jun 2020, 02:14:35 PM IST
Haryana to fix rates for covid-19 treatment in private hospitals
Haryana government has decided to fix rates for covid-19 treatment in private hospitals. State health minister Anil Vij said that they would not allow people to be fleeced by private hospitals and hence they have fixed the rates.
24 Jun 2020, 02:12:23 PM IST
IMF to release global growth projections today
The International Monetary Fund will release revised global growth projections in its World Economic Outlook update later on Wednesday, providing insight on the extent of economic damage caused by the covid-19 pandemic and the likely pace of recovery.
The IMF's April forecast had projected that world GDP will fall 3% in 2020.
24 Jun 2020, 02:06:37 PM IST
Sensex marks fresh intra-day low of 35,101 points
24 Jun 2020, 02:03:53 PM IST
IndusInd Bank slumps over 5%, top loser on Nifty
24 Jun 2020, 01:52:15 PM IST
Nifty Pvt Bank worst hit among sectoral indices, down over 2%
24 Jun 2020, 01:45:43 PM IST
Indian equities volatile; Nifty, Sensex deep in the red
Having surged at open, Indian equities turned choppy with the Sensex down over 200 points and the Nifty below 10,400.
Only 7 of Sensex stocks were higher, while the rest were in the red. Top losers were IndusInd Bank, down 5%, Power Grid, down 4% and ICICI Bank which was down 3.7%.
On the Nifty, 39 stocks declined.
24 Jun 2020, 01:36:34 PM IST
Rajasthan govt to file case against Ramdev over claims of Coronil curing COVID-19
24 Jun 2020, 01:21:01 PM IST
Gail (India) reports net profit of ₹30.2 bln; stock up 3.4%
Gail (India) reported a net profit of ₹30.18 billion for the March quarter compared with ₹11.22 billion in the year-ago period. Revenue from operations was at ₹177.55 billion versus ₹187.64 billion last year.
24 Jun 2020, 01:15:49 PM IST
Asian shares mixed
Asian shares traded on a mixed note on Wednesday amid fears about surging coronavirus cases.
Japan's benchmark Nikkei 225 was little changed, inching down less than 0.1% to finish at 22,534.32. Australia's S&P/ASX 200 picked up 0.2% to 5,965.70. South Korea's Kospi added 1.4% to 2,161.51. Hong Kong's Hang Seng slipped 0.2% to 24,855.87, while the Shanghai Composite added 0.3% to 2,979.55.
24 Jun 2020, 01:14:03 PM IST
European stocks weak as investors eye coronavirus cases
European equities were weak on Wednesday, weighed down by defensive sectors, as investors exercised caution amid a surge in coronavirus cases world over.
The pan-European STOXX 600, which had closed at a near two-week high in the previous session, slid 0.5%, with food and beverage, telecoms, and healthcare stocks falling between 0.7% and 0.8%.
24 Jun 2020, 01:08:27 PM IST
BSE Midcap up
24 Jun 2020, 01:04:30 PM IST
Govt relaxes manufacturing norms for PPE makers: PTI
The government has relaxed norms of having in-house testing for three kinds of Personal Protective Equipments (PPEs) to boost supply of quality gears during the ongoing COVID-19 pandemic, Press Trust of India reported today, citing a government order.
The norms have been relaxed for filter half masks, surgical face masks and eye protectors by the Bureau of Indian Standards (BIS).
Earlier, license to manufacture these products was given to those having in-house testing facilities.
This norm has been relaxed and manufacturers are now required to test the samples for specified requirements in labs of BIS licensees who have in-house testing facilities, or in BIS recognised or empanelled private or government labs, it added.
24 Jun 2020, 01:00:03 PM IST
Dispute over Rs7 crore pact puts Bank of Baroda at risk: Report
A dispute between two big state-run companies over a ₹69.7 million ($920,000) guarantee has put one of India’s largest lenders under regulatory scrutiny and reignited questions about enforcement of contracts in Asia’s No. 3 economy, Bloomberg reported today.
The Supreme Court on Monday ordered the central bank to assess and act against Bank of Baroda in a case that has its roots in a three-year-old wrangle with Indian Oil Corp. A two-judge bench headed by Justice Hemant Gupta also dismissed Bank of Baroda’s petition challenging a lower court’s request that authorities consider revoking the license of Bank of Baroda, which is India’s third-largest state-run lender.
“It shall be open to the Reserve Bank of India to take such action as may be necessary in the facts and circumstances of the case," according to the Supreme Court order published on its website.
24 Jun 2020, 12:55:19 PM IST
Govt wants 'origin of products' displayed, calls e-commerce firms for meet: Report
The Department for Promotion of Industry and Internal Trade has called e-commerce majors, including Amazon, Flipkart, Snapdeal and Paytm, for a meeting on Wednesday to discuss the ‘displaying origin of the product’ on these platforms, as anti-China sentiment picks up in the country, Business Standard reported today.
This follows the Government e-Marketplace (GeM) platform making it mandatory for its listed sellers to specify the country of origin while registering all new products on the portal.
24 Jun 2020, 12:47:58 PM IST
Companies, directors get more relief from compliance norms
Companies can take key decisions such as adopting financial statements and clearing mergers and acquisitions (M&A) by video conference till the end of September with the government extending the relaxation in rules earlier offered till end of June.
24 Jun 2020, 12:44:07 PM IST
Reliance Industries jumps nearly 3%
Shares of Reliance Industries jumped 2.7% to ₹1,766.30 apiece on Wednesday amid choppy trade in the broader market.
RIL chairman Mukesh Ambani has said the company is working to complete contours of a $15-billion deal with Saudi Aramco. Announced in the oil-to-telecom conglomerate's last year annual general meeting (AGM), the deal was to be concluded by March 2020 but has been delayed.
24 Jun 2020, 12:41:11 PM IST
India Cements down nearly 1% as Q4 net loss at ₹111.1 crore
India Cements reported a standalone net loss of ₹111.1 crore for the March quarter. The company incurred a one-time loss of ₹100 crore due to covid-19 uncertainty. Standalone revenue were at ₹1,151.9 crore.
24 Jun 2020, 12:37:03 PM IST
Sebi extends last date to announce Q4 & FY20 results to 31 July from 30 June
24 Jun 2020, 12:37:03 PM IST
Sensex rallies, tops 35,600
24 Jun 2020, 12:21:32 PM IST
On NSE, 75 stocks touch 52-week high
Around 75 stocks touched their 52-week highs on NSE on Wednesday.
Among the stocks that touched their 52-week highs were Adani Green, Astec LifeSciences, Aurobindo Pharma, Alok Industries, Escorts , Ester Industries, Jindal Poly Films , Lyka LabsNSE 1.77 %, Mittal Life Style, NACL Industries, Network18 Media & Investments, Suven Pharma, Ruchi Soya Industries, Sequent Scientific and Ruchi Infrastructure.
24 Jun 2020, 12:16:57 PM IST
Nifty Bank index down nearly 1%; IndusInd Bank top loser
24 Jun 2020, 12:11:58 PM IST
Nifty FMCG up in weak market
24 Jun 2020, 12:02:11 PM IST
Sensex near day's low
The Sensex was near its day low at 35,394 and down from its intraday high of 35,707 points. Indian equities came under pressure dragged down by private banks and pharma stocks.
The Nifty 50 index was below the psychological level of 10,500 and hovered around 10,450.
Nifty sectoral indices was mixed, with gains in Nifty Auto and Nifty PSU Bank index (both up 1%) offset by Nifty Pharma and Nifty Private Bank index (down 1%).
In the broader market, the S&P BSE MidCap was marginally up while the S&P BSE SmallCap index dipped half a per cent.
24 Jun 2020, 11:55:59 AM IST
Indian rupee weakens
The Indian rupee was weak against the US dollar at 75.66. The unit had opened at 75.61 and touched a low of 75.73.
24 Jun 2020, 11:49:07 AM IST
Glenmark Pharma down over 4%
Shares of Glenmark Pharmaceuticals were down over 4% at ₹465.10 on the BSE on Wednesday on profit booking, having touched an intra-day low of ₹450. The stock has declined 13% in the past two sessions.
On Monday, shares of drug maker had surged 27% to ₹520 after the company received approval for Favipiravir’s (Fabiflu), a potential covid-19 drug, by the Drug Controller General of India.
The approval of Favipiravir (emergency usage approval) is for patients with mild to moderate symptoms of the disease.
24 Jun 2020, 11:42:25 AM IST
Nifty PSU Bank index higher amid weak broader market
Nifty PSU Bank index was among the sectoral indices that were higher in trade on Wednesday.
24 Jun 2020, 11:39:19 AM IST
Assam pollution board withdraws closure notice for Oil India's Baghjan Oil Field
Oil India on Wednesday said the closure notice served by Pollution Control Board Of Assam for Baghjan Oil Field has been withdrawn.
Due to stoppage/blockades, there was production loss of 129 MT of crude oil and 0.16 MMSCM of natural gas as reported on 22 June. Operations were disrupted in 16 oil wells and 1 gas well. Cumulative production loss since 2 May due to bandhs and blockades - 8291 MT Crude oil, 10.56 MMSCM of natural gas.
24 Jun 2020, 11:31:34 AM IST
Sensex gainers, losers
24 Jun 2020, 11:29:37 AM IST
Top gainers, losers on Nifty 50
24 Jun 2020, 11:25:26 AM IST
Cabinet may take up changes to Banking Regulation Act today: Report
The Union Cabinet may take a call on changes to Banking Regulation Act today, CNBC TV18 reported. The Cabinet meeting is underway.
The government may also seek Cabinet nod for an ordinance on co-operative banks today. The ordinance will give the Reserve Bank of India more powers over co-operative banks.
24 Jun 2020, 11:18:55 AM IST
Credit Suisse holds 'underperform' rating on Indian equities
24 Jun 2020, 11:10:59 AM IST
Mercedes, Nvidia to jointly make cars with little driving role for humans
German car maker Mercedes Benz and chipmaker Nvidia will collaborate to develop “next-generation computing platform" for automated driving. The new platform is based on the chipmaker’s new Orin system-on-chip (SoC) and the Nvidia Drive AGX software stack and will be seen in Mercedes’ vehicles from 2024.
24 Jun 2020, 11:07:02 AM IST
Sensex in the red
24 Jun 2020, 11:07:03 AM IST
Sensex, Nifty pare gains
Having surged at open, the BSE Sensex and the Nifty 50 gave top most of their gains. The Sensex was in the red, down 46 points at 35,384, the Nifty slipped below the crucial 10,500.
ICIC Bank, Sun Pharma, and IndusInd Bank were the top losers on the Sensex. Asian Paints rose the most, up nearly 6%.
On the Nifty, 24 stocks advanced and 25 declined. One was unchanged.
24 Jun 2020, 10:55:00 AM IST
Hinduja brothers locked in legal dispute over family assets: Report
The UK-based Hinduja brothers are locked in a legal dispute in the High Court in England over their billionaire family assets, according to media reports.
The case has been brought by Srichand Parmanand Hinduja, 84, described as the "patriarch" of the family, against brothers G P Hinduja, 80, P P Hinduja, 75, and A P Hinduja, 69, and revolves around the "validity and effect" of a letter dated July 2, 2014.
24 Jun 2020, 10:48:43 AM IST
Top losers on Nifty 50
24 Jun 2020, 10:47:31 AM IST
Indian equities largely higher on Asian cues
24 Jun 2020, 10:43:49 AM IST
BSE Smallcap up nearly 0.8% led by JMC Projects
24 Jun 2020, 10:41:24 AM IST
BSE Midcap was up in line with broader market
24 Jun 2020, 10:36:49 AM IST
Balrampur Chini jumps 5% after Q4 results
Shares of Balrampur Chini Mills rose 5% to ₹141.70 on the BSE on Wednesday after the company reported a 31% year-on-year rise in revenue to ₹1,740 crore for the March quarter, driven by exports. Operating profit declined 6.6% to ₹241 crore, while net profit fell 14.8% to ₹230 crore.
24 Jun 2020, 10:33:01 AM IST
Asian equities at four-month high
Asian shares touched a four-month high on Wednesday as investors were upbeat about the re-opening of global economy even as cases of coronavirus accelerated.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.4% to reach its highest since early March, though turnover was light.
Japan's Nikkei was up 0.1% and Chinese blue chips rose 0.3%.
24 Jun 2020, 10:26:46 AM IST
Tata Motors top gainer on Nifty
24 Jun 2020, 10:19:42 AM IST
JMC Projects jumps 20% as company bags orders worth ₹938 crore
Shares of JMC Projects (India) surged 20% to ₹60.40 apiece on the BSE on Wednesday after the company said it has secured new orders worth ₹938 crore.
24 Jun 2020, 10:17:07 AM IST
India coronavirus case tally races past 4,50,000
With a record 15,968 coronavirus cases reported in the past 24 hours, the total reported coronavirus infected people in India has risen to 4,56,183. The death toll has gone up to 14,476 as covid-19 claimed 465 lives in the past 24 hours. According to Health Ministry data, 2,58,684 have recovered so far while there are 1,83,022 active cases in the country. The recovery rate stands at 56.70% in India. About 10,500 patients recovered in past 24 hours.
The World Health Organization has warned that the pandemic was accelerating as economies reopen. The US has reported about 23.46 lakh cases and 1.21 lakh deaths. Brazil has reported over 11 lakh cases while Russia about 6 lakh cases.
24 Jun 2020, 10:13:01 AM IST
India rupee marginally higher
The Indian rupee was marginally higher against the US dollar at 75.61 compared with Tuesday's close of 75.64.
24 Jun 2020, 10:06:37 AM IST
HPCL, ONGC down 0.2% each
Shares of Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), Oil India (OIL), GAIL India, Power Grid Corporation of India and NTPC traded on a mixed note on the BSE after Fitch Ratings revised the outlook on these company's ratings.
"Fitch Ratings has revised the outlook on the long-term issuer default ratings (IDR) of six rated Indian government-related entities (GREs) to Negative from Stable. The entities' long-term IDRs are affirmed at 'BBB-'. The rating action follows the revision of the Outlook on India's 'BBB-' sovereign rating to Negative from Stable on June 18," it said in a statement.
24 Jun 2020, 09:59:52 AM IST
Nifty Metal index up over 1%
The Nifty Metal index was up 1.06% at 2,101.20, after the US assured that the trade deal with China was intact despite recent developments. "The China Trade Deal is fully intact. Hopefully they will continue to live up to the terms of the Agreement", US President Donald Trump said in a tweet on Tuesday.
24 Jun 2020, 09:49:38 AM IST
FPIs pump in ₹20,242 crore in June so far
According to data from NSDL, FPIs have pumped in ₹20,242 crore in the Indian market in June so far. They have invested ₹22,194 crore in equity but took out ₹3,167 crore from the debt market.
24 Jun 2020, 09:44:28 AM IST
Sensex extends gains
24 Jun 2020, 09:39:52 AM IST
Nifty PSU Bank index higher
24 Jun 2020, 09:38:20 AM IST
Asian Paints top gainer on Sensex
Asian Paints was the top gainer on Sensex, up 3.2%, after reporting better than expected earnings. The paint maker's net profit fell 2.1% year-on-year (YoY) to ₹461.9 crore in the quarter-ended March as the nationwide lockdown to contain the spread of coronavirus hit demand. Revenue from operations fell 7.1% YoY to ₹4,636 crore.
CLSA and Credit Suisse have maintained an 'Outperform' call on Asian Paints post March quarter earnings.
24 Jun 2020, 09:35:24 AM IST
Bank of Baroda jumps 6%
Bank of Baroda was up over 6% on upbeat results. The lender reported a net profit of ₹507 crore for the three months to March due to lower provisions for bad assets. The bank was expected to post a net loss of ₹161 crore in the March quarter of FY20, according to an average of estimates by 11 analysts polled by Bloomberg.
24 Jun 2020, 09:35:24 AM IST
Indian equities higher on upbeat global cues
Indian stock markets were higher on Wednesday, in line with global peers. The Sensex was 0.4% higher at 35,561 points while the Nifty was up at 10,512.
Gains on the Sensex were led by Asian Paints, up 3.3%, and ITC, and Bajaj Finance. HCL Tech was the top loser, down 1.2%.
Having surged at open, Nifty pared some gains with 36 stocks advancing and 16 declining. All major sectoral indexes, barring Nifty Realty, was in the green.
24 Jun 2020, 09:22:04 AM IST
Top gainers, losers on Nifty 50
24 Jun 2020, 09:15:09 AM IST
Sensex stoks at pre-open
24 Jun 2020, 09:05:02 AM IST
Petro price unchanged today, diesel prices hiked by 48 paise
Petrol price was kept unchanged while diesel price was hiked by 48 paise today. Diesel now costs more than petrol in Delhi; petrol at ₹79.76 & diesel at ₹79.88/L. In the last 18 days, diesel price is hiked by ₹10.25/L
24 Jun 2020, 08:47:19 AM IST
Oil prices ease as US inventories grow more than expected
Oil futures edged lower on Wednesday, extending losses from previous day, after US crude stockpiles grew more than expected, deepening concerns about a global glut.
Brent crude was down 2 cents at $42.61 a barrel in early deals, while US West Texas Intermediate (WTI) crude futures fell 4 cents, or 0.1%, to $40.33 a barrel.
Asia stocks largely higher as Wall Street gains support
Asian stocks were largely upbeat on Wednesday. A spike in new coronavirus infections weighed on sentiment but US assurances that the trade deal with China was intact and upbeat economic data led to optimism.
Australia's S&P/ASX 200 futures rose 0.15% in early deals, while Japan's Nikkei was modestly higher. Kospi and Hang Seng also edged higher.
24 Jun 2020, 08:28:53 AM IST
Wall Street stocks gain on signs of economic recovery
The three major indexes on the Wall Street ended higher on Tuesday bolstered by signs of economic recovery and optimism about ability of the US government to respond to rising cases of covid-19.
The Dow Jones Industrial Average ended 0.5% higher at 26,156.10 points, the S&P 500 gained 0.43% to 3,131.20 and the Nasdaq Composite added 0.74% to end at a fresh record of 10,131.37.
Gains on Nasdaq were driven by at least three brokerages raising their price targets for Apple Inc after it announced it would use its own chips for Mac computers.