Home > Markets > Live Blog > Sensex rises 370 points, Nifty nears 9,400; IndusInd Bank surges 17%
(Photo: AP/Andy Wong)
(Photo: AP/Andy Wong)

Sensex rises 370 points, Nifty nears 9,400; IndusInd Bank surges 17%

  • Nifty sectoral indices end mixed. Nifty Bank jumps about 3%
  • BSE MidCap, BSE SmallCap gain around 1%

Welcome to Mint live blog. Track this space for latest news and updates on stock markets.

28 Apr 2020, 03:32:27 PM IST

Market closing bell

Indian equity market managed to hold opening gains and ended higher after a day of volatile trade. Among sectors, financial services stocks were the top performers, with heavyweights--IndusInd Bank, HDFC Bank and Axis Bank--driving the indices. Bajaj Finance and Bajaj Finserv also contributed to the last-hour rally.

Key indices had started the day on a choppy note with a positive bias, tracking mixed cues from global markets, where investors pinned hopes to resumption of economic activities that had come to grinding halt due to the coronavirus pandemic.

While Sensex gained 1.2% to settle at 32,114.52 points, the Nifty 50 index closed 1.1% higher at 9,380.90 points.

28 Apr 2020, 03:17:46 PM IST

Nifty Bank outperforms among sectors

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28 Apr 2020, 03:15:55 PM IST

Financial services stocks buoy Sensex

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28 Apr 2020, 03:14:46 PM IST

Most Asian markets end higher

Major stocks in Asian ended the day in the green as investors turned hopeful after governments across the world started easing lockdown restrictions imposed to contain the spread of covid-19. Hong Kong's Hang Seng index rose 1.2%, while South Korea's Kospi increased 0.6%. However, Shanghai Composite in China fell a marginal 0.2%.

28 Apr 2020, 03:03:20 PM IST

HDFC Life Insurance down on weak Q4 results

Shares of HDFC Life Insurance fell 3% as its consolidated net profit dropped 14.5% year-on-year to 311.65 crore in the March quarter due to a decline in net investment income and rise in provisions.

28 Apr 2020, 02:51:35 PM IST

BSE SmallCap up nearly 1%

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28 Apr 2020, 02:50:08 PM IST

NBFCs lead gains on BSE MidCap

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28 Apr 2020, 02:48:38 PM IST

JK Paper board approves share buyback

JK Paper said its board has approved share buyback of up to a maximum of 100 crore at an amount of 130 per share. The stock added 6.1% to 108.70 on the BSE.

28 Apr 2020, 02:23:08 PM IST

Rupee settles marginally higher

The Indian rupee ended marginally higher at 76.18 against the US dollar amid volatile trade in the domestic equity market.

28 Apr 2020, 02:07:39 PM IST

Nifty top gainers, laggards

IndusInd Bank, Bajaj Finance, HDFC Bank, Axis Bank and Bharat Petroleum (BPCL) were the biggest gainers on Nifty 50, while Sun Pharmaceutical, Vedanta, NTPC, Nestle India and Asian Paints led the losses.

28 Apr 2020, 02:04:11 PM IST

IndusInd Bank deploys mobile ATM in Ahmedabad

The private lender said it has deployed a mobile automated teller machine (ATM) in Ahmedabad to facilitate banking services at the doorstep of residents in wake of the coronavirus outbreak. The mobile ATM will be operational across localities, making three-five stops in a day during 9 am-6 pm. The stocks was the top performer on Nifty and traded 11.1% higher at 452.50 on the BSE.

28 Apr 2020, 01:59:41 PM IST

Market update

Benchmark indices have started rising after first fews hours of volatile trade. While Sensex gained 250.52 points, or 0.8%, to 31,993.60, Nifty 50 rose 64.65 points, or 0.7%, to 9,346.95.

28 Apr 2020, 01:56:08 PM IST

India's sovereign rating under threat

Fitch Ratings warned that deterioration in India’s fiscal outlook as a result of lower growth or fiscal easing could put pressure on its sovereign rating at a time when the government contemplates announcing a stimulus package for micro, small and medium enterprises (MSMEs) and informal sector.

28 Apr 2020, 01:11:36 PM IST

Just Dial rallies over 12%

Shares of Just Dial jumped 12.3% to 391.35 on the BSE after the company said its board may consider the proposal to buyback fully paid-up equity shares in a meeting scheduled on 30 April.

28 Apr 2020, 01:07:46 PM IST

Nifty FMCG losses over 1%

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28 Apr 2020, 12:58:53 PM IST

TVS Motor board approves fundraising

The board of the two-wheeler manufacturing company approved raising funds through the issuance of non-convertible debentures (NCDs) worth 500 crore on a private placement basis. The stock traded 1.6% lower at 294.65 on the BSE.

28 Apr 2020, 12:50:54 PM IST

European shares steady at open

European stock markets steadied at the start of trading following weeks of volatility caused by the coronavirus outbreak. London and Paris dropped 0.1%, Frankfurt was unchanged, Madrid edged down 0.2% and Milan rose 0.5%, as European nations began to relax lockdowns triggered by the coronavirus pandemic.

28 Apr 2020, 12:48:15 PM IST

Crude oil check

Oil prices continued their downward spiral, after slumping 25% on Monday, amid concern about dwindling capacity to store crude worldwide, heightened by fears that fuel demand may be slow to pick up once countries ease curbs imposed on business and social life to combat the coronavirus pandemic. The US West Texas Intermediate (WTI) crude futures fell to as little as $10.64 a barrel, and were off 12.8%, or $1.64, at $11.14 a barrel as of 0635 GMT.

28 Apr 2020, 12:42:43 PM IST

RIL to mull rights issue at 30 April's board meet

India's Reliance Industries said it will consider its first rights issue in almost 30 years when its board meets on 30 April (Thursday), in another attempt to slash its debt. In an exchange filing late on Monday, the oil-to-retail conglomerate said a rights issue would be on the table at the meeting although it gave no details of what exactly was under consideration.

28 Apr 2020, 11:57:38 AM IST

Nifty Pharma declines 1.5%

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28 Apr 2020, 11:52:37 AM IST

Natco Pharma receives USFDA approval

The pharmaceutical company received final US Food and Drug Administration (USFDA) approval for its first supplemental abbreviated new drug application (sANDA) filed atits new drug formulations facility at JNPC SEZ (Jawaharlal Nehru Pharma City special economic zone) in Visakhapatnam, Andhra Pradesh. The stock was up 0.4% at 634.05 on the BSE.

28 Apr 2020, 11:43:44 AM IST

Axis Bank acquires additional stake in Max Life Insurance

The private lender has signed an agreement with Max Financial Services to acquire 29% stake in the latter's subsidiary, Max Life Insurance Company, for an undisclosed amount, Axis Bank informed the stock exchanges. The transaction is subject to regulatory approvals.

28 Apr 2020, 11:23:35 AM IST

Varroc Engineering resumes partial operations

Varroc Engineering has partially resumed manufacturing operations at its facilities in Chakan, Pune (Maharashtra), Pantnagar (Uttarakhand) and Waluj, Aurangabad (Maharashtra). Shares of the company rose a marginal 0.3% to 143 on the BSE.

28 Apr 2020, 11:17:16 AM IST

Nifty Bank adds 1.6%

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28 Apr 2020, 10:42:16 AM IST

UPL jumps post Yaloo Biotech acquisition

Shares of UPL rose 3.8% to 362.90 on the BSE as it has completed the acquisition of Yoloo (Laoting) Biotechnology, an agrochemical maker based in Heibei province of China, from Beijing Yoloo Bio-Technology Corp. The cost of the acquisition is $13.3 million (about 95 crore).

28 Apr 2020, 10:29:53 AM IST

Axis Bank to buy 30% of Max Life Insurance

Axis Bank may acquire nearly 30% of Max Life Insurance Company from Max Financial Services, the flagship listed company of Analjit Singh, for 1,600 crore, according to a report by The Economic Times. India’s fourth-largest private sector bank will become a strategic partner of the life insurance firm, in which Max Financial will eventually hold 70% after a two-stage transaction. Shares of the bank rose 2.3% to 437.10 on the BSE.

28 Apr 2020, 10:19:22 AM IST

BSE SmallCap marginally higher

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28 Apr 2020, 10:12:39 AM IST

BSE MidCap shares mixed

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28 Apr 2020, 09:58:01 AM IST

IndusInd Bank top Nifty gainer

Shares of the private lender surged nearly 10% as its management allayed investor concerns over financials in a conference call on Monday. New chief executive officer (CEO) Sumant Kathpalia said the bank sees renewed interest from corporate deposits and state governments too have not pulled out baring the initial outflow. The stock was in the green even as the bank reported a net profit of 301.84 crore for the March quarter, down 16% on year-on-year (y-o-y), owing to rise in provisions.

28 Apr 2020, 09:46:26 AM IST

Ambuja Cements rises on strong Q1CY20 numbers

Shares of the cement maker moved up over 1% to 174.15 on the BSE as the company reported a consolidated net profit of 742.59 crore in the first quarter of calendar year 2020, a 6.8% growth from a year ago.

28 Apr 2020, 09:42:20 AM IST

Reliance Industries allots NCDs

Reliance Industries allotted 27,950 unsecured redeemable non-convertible debentures (NCDs) of face value of 10 lakh each, amounting to 2,795 crore (PPD series L debentures), issued on a private placement basis.

28 Apr 2020, 09:35:12 AM IST

Most Nifty sectoral indices gain

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28 Apr 2020, 09:29:31 AM IST

Private banks lead on Sensex

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28 Apr 2020, 09:20:32 AM IST

Market opening bell

Benchmark Indian equities extended gains from Monday and opened higher. Optimism over reopening of economic activities in global markets also buoyed the investor sentiment. While Sensex climbed 357.79 points, or 1.1%, to 32,100.87, the Nifty 50 index advanced 96.15 points, or 1%, to 9,378.45.

28 Apr 2020, 09:04:36 AM IST

Crude oil under pressure

Crude oil extended sharp losses from Monday, with the US West Intermediate Texas (WTI) plunging below $11 a barrel. On Monday, WTI lost a quarter of its value, after a major exchange-traded fund started selling its short-term contracts of the commodity. WTI crude fell 15% to $10.90 a barrel after tanking 24% Monday.

28 Apr 2020, 08:54:56 AM IST

Asian equities mixed

Asian shares were mixed as governments inched towards letting businesses reopen and central banks stepped in to provide cash to economies. Japan's benchmark Nikkei 225 lost earlier gains, dropping 0.4% to 19,706.19. South Korea's Kospi was unchanged at1,921.39. Australia's S&P/ASX 200 rose 0.2% to 5,329.50. Hong Kong's Hang Seng climbed 0.2% to 24,329.34, while the Shanghai Composite fell nearly 0.2% to 2,811.09. (PTI)

28 Apr 2020, 08:52:45 AM IST

Stocks to watch today

IndusInd Bank reported a net profit of 301.84 crore for the March quarter, down 16% on year-on-year (y-o-y), owing to rise in provisions. Shree Cement, UPL, Axis Bank, Indiabulls Real Estate and Minda Industries are some other stocks to be in focus.

28 Apr 2020, 08:51:00 AM IST

Dow Jones, S&P 500 firm up 1.5% each

The Dow Jones Industrial Average gained 1.5% to end the day at 24,133.78 points. The broad-based S&P 500 also rose 1.5% to 2,878.48, while the tech-rich Nasdaq Composite Index advanced 1.1 percent to finish Monday's session at 8,730.16.

28 Apr 2020, 08:33:20 AM IST

US stocks extend gains from last week

Key Wall Street indices gained more than 1% on Monday as investors turned hopeful after several states in the US started relaxing shutdown restrictions imposed to curb the spread of coronavirus. All three major US stock averages advanced, and are all now within 20% of their record closing highs reached in February, with the benchmark S&P 500 on track for its best month since 1987, after trillions of stimulus dollars helped U.S. equities claw back much of the ground lost since the coronavirus crisis brought the economy to a grinding halt.

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