Home > Markets > Live Blog > Sensex jumps over 600 points, Nifty reclaims 9,500; Hindalco, HDFC up 7%
Photo: PTI
Photo: PTI

Sensex jumps over 600 points, Nifty reclaims 9,500; Hindalco, HDFC up 7%

  • Nifty sectoral indices end higher. Nifty Financial Services rallies 3%
  • BSE MidCap, BSE SmallCap rise around 1% each

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29 Apr 2020, 03:33:32 PM IST

Market closing bell

After a choppy start, Indian equity market gathered pace during the day and ended firm, led by metal and financial services stocks. Shares of Hindalco, Gail India, Tata Steel and Vedanta led gains among metal stocks, while that of HDFC and HDFC Bank were the top performers in the financial sector.

Overall, the rally among non-banking financial companies (NBFCs) and housing finance companies (HFCs) offset the fall in Axis Bank, which was under pressure through the trading session due to weak earnings reported for the March quarter.

While Sensex advanced 605.64 points, or 1.9%, to 32,720.16, Nifty 50 rose 172.45 points, or 1.8%, to end at 9,553.35 points.

29 Apr 2020, 03:20:47 PM IST

Most Nifty sectoral indices climb

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29 Apr 2020, 03:19:51 PM IST

SC allows tax refund for Vodafone Idea

The Supreme Court (SC) allowed tax refund of 733 crore for Vodafone Idea. The apex court has ordered refunding the amount to the company within four weeks. Vodafone Idea had alleged that the tax department had not processed income refund of 4,759 crore for assessment years 2014-15 to 2017-18. Shares of the telecom operator rose 4% to 4.17 on the BSE.

29 Apr 2020, 03:15:33 PM IST

Top Nifty gainers, laggards

Rising 7.1%, HDFC was the best performer among Nifty 50 stocks, followed by Hindalco, HDFC Bank, Zee Entertainment and Gail India, while Axis Bank, Hindustan Unilever, Asian Paints, Dr Reddy's Laboratories and Eicher Motors led the losses.

29 Apr 2020, 03:11:34 PM IST

Euro economic sentiment under pressure

Eurozone economic sentiment suffered its steepest ever decline in April, plunging by more than expected as coronavirus lockdowns brought much economic activity to a halt, a monthly European Commission survey showed on Wednesday. The economic sentiment crashed to 67.0 points - its largest fall since measurements started in 1985 - from a downwardly revised 94.2 in March and 103.4 in February. Economists polled by Reuters had expected a fall to 74.7 points. (Reuters)

29 Apr 2020, 03:03:24 PM IST

Bull run for most Sensex stocks

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29 Apr 2020, 02:43:53 PM IST

Most plants operational: Motherson Sumi

Motherson Sumi Systems said more than 80 of its 152 manufacturing facilities across the world are now operational. While 30% of them are running at more than 80% capacity, the remaining are operating at 50% capacity. Shares of the company surged 5.8% to 82.75 on the BSE.

29 Apr 2020, 02:36:08 PM IST

Shemaroo launches Hindi TV channel

Content producer Shemaroo Entertainment has launched a new Hindi general entertainment channel (GEC), Shemaroo TV, a free-to-air channel targeting the Hindi-speaking markets in the country. The stock was up nearly 5% at 85.85 on the BSE.

29 Apr 2020, 02:27:16 PM IST

Nifty Financial Services up over 3%

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29 Apr 2020, 02:23:47 PM IST

Lupin receives USFDA approval

The pharmaceutical major has received tentative approval from the US Food and Drug Administration for its Arformoterol Tartrate inhalation solution to market a generic version of Brovana Inhalation Solution of Sunovion Pharmaceuticals Inc. Shares rose a marginal 0.4% to 857.90 on the BSE.

29 Apr 2020, 02:00:27 PM IST

Finolex Industries restarts partial operations

The pipe maker said it has partially resumed operations at its manufacturing facilities in Ratnagiri (Maharashtra) and Masar (Gujarat). Shares of the firm gained 2.4% to 387.50 on the BSE.

29 Apr 2020, 01:05:36 PM IST

Nifty Auto jumps over 2%

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29 Apr 2020, 12:54:57 PM IST

ICICI Direct maintains buy on Axis Bank

The brokerage firm said the private lender may face near-term challenges and benefit in the phase of normalisation after the coronavirus-led lockdown, given its healthy asset mix, liability strength, adequate capital and superior customer profile. The brokerage remained positive on the fundamentals of the bank. It valued the bank at a target price of 500.

29 Apr 2020, 12:40:43 PM IST

Gold price update

Gold prices edged higher as a weaker dollar eclipsed optimism over plans for a gradual easing of coronavirus curbs, while investors awaited a policy decision by the US Federal Reserve due later in the day. Spot gold rose 0.2% to $1,711.31 per ounce by 0539 GMT after three straight sessions of falls. The US gold futures climbed 0.3% to $1,727.50 per ounce.

29 Apr 2020, 12:38:03 PM IST

Asian equities near two-month highs

Asian shares touched near two-month highs as investors drew positive cues from major economies gradually lifting lockdown restrictions imposed to contain the spread of the deadly covid-19. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.9%, having rallied 3.3% already this week. Japan's markets were closed for a public holiday. Australian shares gained 1.2% led by energy and resources firms while South Korea added 1.2%.

29 Apr 2020, 11:44:12 AM IST

ICRA reaffirms Varroc Engineering's long-term rating

Icra has reaffirmed Varroc Engineering's long-term rating at ICRA AA- and revised the outlook from stable to rating watch with negative implications. Shares of the company rose almost 2% to 148.10 on the BSE.

29 Apr 2020, 11:12:00 AM IST

Nifty Metal top gainer among sectors

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29 Apr 2020, 11:05:54 AM IST

Top Nifty gainers, laggards

HDFC, Tata Steel, Bajaj Finance, JSW Steel and Hindalco were the top gainers on the Nifty 50 index, while Axis Bank, Hindustan Unilever, Titan Company, Dr Reddy's Laboratories and Asian Paints fell the most.

29 Apr 2020, 11:02:46 AM IST

Hester Biosciences ties up with IIT Guwahati

Hester Biosciences, an Ahmedabad-based pharmaceutical company, will collaborate with Indian Institute of Technology (IIT) Guwahati to develop a vaccine for treatment of covid-19. Shares of the company surged 20% to 1366.90 on the BSE.

29 Apr 2020, 10:54:53 AM IST

MCX allows commodity trading in negative

The Multi Commodity Exchange of India (MCX) has allowed trading in commodity derivatives at negative prices. This is part of additional risk management measures announced for crude oil contracts due to increased volatility in oil markets. The measures will be effective from 30 April.

29 Apr 2020, 10:44:28 AM IST

Zee Entertainment gains over 2%

Shares of Zee Entertainment Enterprises added 2.1% to 155.75 on the BSE after data showed that foreign portfolio investors (FPIs) raised their stake to 68.27% during the March quarter, while SBI-ETF Nifty50 increased holding to 2.03% from 1.47%.

29 Apr 2020, 10:36:40 AM IST

Rupee opens higher, below 75/dollar mark

The Indian rupee opened 21 paise higher at 75.97 against the US dollar, compared with Tuesday's close of 76.18.

29 Apr 2020, 10:13:39 AM IST

Most BSE SmallCap shares trade higher

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29 Apr 2020, 10:11:51 AM IST

BSE MidCap gains nearly 1%

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29 Apr 2020, 10:10:17 AM IST

Axis Bank falls over 5% on poor Q4 show

Shares of the private lender slipped 5.1% to 432.35 on the BSE after it reported a net loss of 1,388 crore for the March quarter owing to higher provisions. The bank had reported net profit of 1,505 crore in the same period last fiscal. Total provisions rose 18% to 7,730 crore during January-March, compared with 2,711 crore a year ago.

29 Apr 2020, 10:00:51 AM IST

Strides Pharma develops Favipiravir

The pharmaceutical company announced that it has developed and commercialised Favipiravir antiviral tablets. Favipiravir is an antiviral drug that was initially developed to treat influenza in Japan. In February, Favipiravir was studied in China and several other countries following the coronavirus outbreak and is being touted as a potential drug to treat covid-19. The stock jumped 10.6% to 414.00 on the BSE.

29 Apr 2020, 09:48:24 AM IST

Glenmark Pharma receives USFDA approval

Glenmark Pharmaceuticals Inc has received tentative approval by the US Food and Drug Administration (USFDA) for Dapagliflozin and Saxagliptin tablets, the generic version of Qtern of AstraZeneca AB. According to IQVIATM, US sales of Qtern for 12 months ended February 2020 were worth around $10.4 million. Shares of the company moved up 0.9% to 330.85 on the BSE.

29 Apr 2020, 09:39:08 AM IST

Lenders borrow ₹2,000 crore from RBI's MF window

Lenders have borrowed 2,000 crore from the Reserve Bank of India (RBI) under the special liquidity window for mutual funds, showed data released by the RBI. On 27 April, RBI had announced a 50,000-crore special liquidity facility for mutual funds to calm investor sentiment in the aftermath of Franklin Templeton Mutual Fund winding up six debt funds amid severe liquidity stress and redemption pressure.

29 Apr 2020, 09:35:39 AM IST

Nifty FMCG, Pharma in the red

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29 Apr 2020, 09:34:33 AM IST

Most Sensex constituents edge up

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29 Apr 2020, 09:31:47 AM IST

India's securitisation market seen under pressure

India’s securitisation market is expected to face hurdles for the next one-two quarters owing to the disruptions caused by the covid-19 pandemic, rating agency Icra said in a statement. In the previous fiscal 2020, non-banking financial companies (NBFCs) and housing finance companies (HFCs) raised around 1.97 trillion, similar to the securitisation volumes seen in FY19.

29 Apr 2020, 09:20:39 AM IST

Market opening bell

Indian equity market continued to rise on Tuesday, tracking global peers, which advanced as key economies around the world started easing lockdown restrictions. The benchmark Sensex rose 69.53 points, or 0.2%, to 32,184.05, while the Nifty 50 index climbed 21.15 points, or 0.2%, to 9,402.05.

29 Apr 2020, 08:53:27 AM IST

Asian markets extend gains

Asian stocks continued to rise on Wednesday, buoyed by a further easing of coronavirus lockdown measures. However, concerns that the reopenings could trigger a second wave of infections marred investor sentiment. Hong Kong's Hang Seng and Shanghai Composite index rose 0.1 and 0.7%, respectively. Japan's market was closed due to a public holiday.

29 Apr 2020, 08:48:02 AM IST

Crude oil bounces back

US oil prices jumped on Wednesday, trimming some of this week's losses, after stockpiles in the country were lower than expected and on expectations demand will increase as some European countries and US cities moved to ease coronavirus lockdowns. The US West Texas Intermediate (WTI) crude futures climbed to a high of $14.40 a barrel and were up 15.4%, or $1.90, at $14.24 at 0233 GMT, paring a 27% plunge over the first two days of this week. Brent crude futures rose 4.6%, or 93 cents, to $21.39 a barrel.

29 Apr 2020, 08:44:22 AM IST

Stocks to watch today

Axis Bank reported a net loss of 1,388 crore for the March quarter owing to higher provisions. The bank had reported net profit of 1,505 crore in the same period last fiscal. Reliance Industries, Biocon, PNB Housing Finance and Ujjivan Small Finance Bank may also be in focus.

29 Apr 2020, 08:41:45 AM IST

Dow Jones, S&P 500 marginally down

The Dow Jones Industrial Average lost 0.1% at 24,101.55, ending a four-day winning streak. The broad-based S&P 500 dipped 0.5% to 2,863.39, while the tech-rich Nasdaq Composite Index tumbled 1.4% to end Tuesday's session at 8,607.73.

29 Apr 2020, 08:35:23 AM IST

US stocks tumble on Tuesday

Wall Street's major indices lost ground on Tuesday as investors moved out of market-leading growth stocks, though a rotation into cyclical value stocks indicated hopes of economic revival as states began to relax restrictions enacted to fight the deadly covid-19 pandemic. While technology stocks pulled all three key US stocks into the red, they all remained within 20% of their February all-time highs. The US Federal Reserve will convene its two-day monetary policy meeting later today to contend with crushing joblessness and an ailing economy.

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