Home >Markets >Stock Markets >Sensex jumps 290 points led by bank stocks; RIL, IndusInd Bank top gainers
Photo: Mint
Photo: Mint

Sensex jumps 290 points led by bank stocks; RIL, IndusInd Bank top gainers

  • Most Nifty sectoral indices ended higher. Nifty Bank rose nearly 2%. However, Nifty Metal, Nifty Auto were under pressure
  • BSE MidCap, BSE SmallCap were up nearly 1%

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

10 Jun 2020, 04:17:34 PM IST

Market closing

Indian equities surged in the last 30 minutes of today's session, ending higher after a day of dull trade. The rally was largely driven by bank stocks and heavyweights such as Reliance Industries, Tata Consultancy Services and HCL Technologies. Indices traded in a range for most part of the day.

While the Sensex rose 290.36 points, or 0.86%, to 34,247.05, Nifty added 69.50 points, or 0.69%, to 10,116.15.

Among banks, IndusInd Bank topped the chart, followed by Kotak Mahindra Bank, Axis Bank, State Bank of India and ICICI Bank. HDFC was also among the top Nifty gainers.

Most auto and metal stocks bucked the trend in the broader market and traded down tracking global markets, where sentiments were dampened by OECD's grim global economic outlook and fears of recovery in demand hit by coronavirus-related lockdowns. Global investors remain cautious ahead of the US Federal Reserve's two-day meet outcome later today.

10 Jun 2020, 03:27:04 PM IST

Top gainers, laggards on Nifty

IndusInd Bank rallied nearly 10% on Nifty 50, becoming the top gainer, followed by Hindalco, Kotak Mahindra Bank, Shree Cement and Reliance Industries, while Hero MotoCorp, Gail India, Coal India, Bajaj Auto and Tata Steel fell the most.

10 Jun 2020, 03:23:06 PM IST

Dr Reddy's buys Wockhardt's branded generics biz

The pharmaceutical major announced that it has completed the acquisition of select divisions of Wockhardt's branded generics business in India and a few other international territories in Nepal, Sri Lanka, Bhutan and Maldives. Shares of Dr Reddy's were flat at 4,114, while that of Wockhardt fell 1.8% to 260 on the BSE.

10 Jun 2020, 03:17:00 PM IST

European stocks erase early gains

Stocks in Europe gave up early gains along with US equity-index futures after the OECD presented a grim outlook for the global economy and America’s top infectious-disease specialist warned the coronavirus outbreak is far from over. The dollar held near a three-month low against a basket of peers.

10 Jun 2020, 03:13:43 PM IST

Gold price update

Gold prices rose by 46 to 46,640 per 10 gram in futures trade as speculators created fresh positions on firm spot demand. On the Multi Commodity Exchange (MCX), gold contracts for August traded higher by 46, or 0.1%, to 46,640 per 10 gram in a business turnover of 13,818 lots. The yellow metal for October delivery edged up by 38, or 0.08%, to 46,796 per 10 gram in a business turnover of 5,473 lots.

10 Jun 2020, 03:08:54 PM IST

Nifty sectoral indices mixed

View Full Image
10 Jun 2020, 03:01:47 PM IST

Q4 earnings: Dhanuka Agritech

The company's consolidated net profit rose 46% year-on-year (YoY) to 39 crore in the March quarter, from 26.7 crore in the same period last year. Revenue from operations was up 18.1% YoY at 227.6 crore, against 192.7 crore a year ago.

10 Jun 2020, 02:58:10 PM IST

Rupee closes flat

The Indian rupee erased most of the day's gains, ending flat at 75.59 against the US dollar. The domestic currency had settled at 75.61 on Tuesday. It traded in the range of 75.42-75.60 today.

10 Jun 2020, 02:54:55 PM IST

IOC's refineries operating at 83% capacity

India’s largest refiner, Indian Oil Corporation (IOC), said its refineries are operating at 83% of total capacity, with the country’s petroleum product demand doubling in May. The development assumes significance as the state-owned fuel retailer had slashed its refining capacity to 39%, following a sharp drop in India’s petroleum product demand due to the covid-19 pandemic.

10 Jun 2020, 02:43:31 PM IST

eClerx services business drops in Q4

The Street was not quite impressed with eClerx performance as shares dropped about 4%. eClerx Q4FY20 numbers were weak, and that could keep the pressure on the stock, said a Mint report.

The business environment was beginning to improve for eClerx in both the September and December quarter and with an improvement in operating leverage, margins were also looking up. Its shares also reflected the improvement and jumped up 73% from October to January. But business has slipped once again in the March quarter with covid-19 impacting deliveries. As a result, its stock price is back near its October lows.

10 Jun 2020, 02:35:48 PM IST

Welspun offers masks, PPEs under new category

Home textile firm, Welspun India - the makers of Terry towels and Spaces linens, has launched a new category called Welspun Health offering products including medical gowns, disposable linen, coveralls, hand sanitizing wipes, surface disinfectant wipes, masks and personal protective equipment (PPE).

10 Jun 2020, 02:33:11 PM IST

Nifty Realty gains over 2%

The Nifty Realty index rose more than 2% led by Prestige Estates Projects, Mahindra Lifespace Developers, Oberoi Realty, Brigade Enterprises and Indiabulls Real Estate.

10 Jun 2020, 01:52:39 PM IST

Nifty Metal drops among sectors

View Full Image
10 Jun 2020, 01:47:49 PM IST

World economy to contract at least 6% in 2020: OECD

The global economy will contract at least six percent this year due to economic shutdowns to contain the coronavirus outbreak, the OECD said Wednesday, warning that recovery will be "slow and uncertain". In the case of a second wave of contagion later in the year, world economic output could shrink by as much as 7.6 percent in 2020, it said. This would be followed in 2021 by GDP growth of between 2.8% and 5.2%.

10 Jun 2020, 01:32:22 PM IST

Kotak Mahindra Bank up over 2%

Shares of Kotak Mahindra Bank gained more than 2% after global research firm, Morgan Stanley, maintained its overweight stance on the stock with a target price of 1,475 per share.

10 Jun 2020, 12:53:20 PM IST

European stocks open firm

Stocks in Europe advanced along with US equity-index futures after a mixed session in Asia Wednesday as investors awaited the Federal Reserve’s next move on monetary policy. The dollar headed for a three-month low against a basket of peers. Banks and carmakers led a broad advance in the Stoxx Europe 600 index. London's benchmark FTSE 100 advanced 0.8%, while CAC index in France and Germany's DAX rose over 1% each.

10 Jun 2020, 12:26:07 PM IST

Most BSE SmallCap shares in the green

View Full Image
10 Jun 2020, 12:25:11 PM IST

RBL Bank leads BSE MidCap

View Full Image
10 Jun 2020, 12:22:43 PM IST

Top Nifty gainers, laggards

IndusInd Bank, Vedanta, Hindalco, Tata Consultancy Services and Shree Cement were the biggest gainers on Nifty 50, while Hero MotoCorp, Gail India, Bajaj Finserv, Tata Steel and ONGC led the losses.

10 Jun 2020, 12:11:06 PM IST

Market update

Key Indian equities traded in a range, managing to hold morning gains. While the Sensex 157.54 points, or 0.46%, to 34,114.23, the Nifty 50 index traded up 32.15 points, or 0.3%, at 10,078.80.

10 Jun 2020, 12:07:08 PM IST

TCS iON partners National Skill Development Corp

TCS iON, a strategic unit of Tata Consultancy Services, has partnered with the National Skill Development Corporation (NSDC) to provide its training partners access to the TCS iON Digital Glass Room, enabling them to move classroom vocational skills training to online mode for millions of students across the country.

10 Jun 2020, 11:38:19 AM IST

Investors would watch for more clarity on SBI Card

Investors of SBI Cards and Payment Services have had a lousy run ever since they picked up the scrip in the initial public offering (IPO) earlier this year. Shares are still trading at roughly 19% lower than its issue price. In fact, the company listed at a discount of 13% to its issue price on 16 March, according to a Mint report.

But there seems to be a turning point for the company now that the lockdown has been considerably relaxed. SBI Card’s shares have gained 11% so far this month, a sign that turnaround narrative is being recognised.

10 Jun 2020, 11:28:28 AM IST

Wipro launches BoundaryLess Enterprise Solution

The IT major announced the launch of its BoundaryLess

Enterprise Solution (BLE), powered by VMware Tanzu product portfolio. As part of its commitment to integrate VMware’s latest innovations into its BLE, Wipro is also a Design Partner for the VMware Tanzu portfolio, which has Tanzu Mission Control, Tanzu Kubernetes Grid, Tanzu Service Mesh, etc.

10 Jun 2020, 11:16:51 AM IST

JSW Energy executive directors resigns

The Sajjan Jindal-led company said Sharad Mahendra has resigned as executive director has, with effect from 10 June, as he will take up other responsibilities within the JSW Group.

10 Jun 2020, 11:08:06 AM IST

Nifty Bank recovers from lows

View Full Image
10 Jun 2020, 11:05:17 AM IST

Care downgrades Indiabulls Real Estate

Care Ratings has downgraded the long-term rating of Indiabulls Real Estate to CARE A, citing challenges faced by the real estate sector and the likely fallout of the covid-19 pandemic.

10 Jun 2020, 10:53:23 AM IST

Panacea Biotech ties up with US' Refana

Panacea Biotech has collaborated with US-based Refana

Inc to enable global development, manufacturing and distribution of a covid-19 vaccine. As part of the collaboration, Panacea Biotec will make a vaccine through a joint venture (JV) to be based in Ireland. Shares of the firm rallied 20% to 202.80 on the BSE.

10 Jun 2020, 10:47:46 AM IST

Rupee opens higher

The Indian rupee opened 11 paise higher at 75.50 against the US dollar, compared to the previous close of 75.61.

10 Jun 2020, 10:45:09 AM IST

Petrol, diesel prices hiked for fourth straight day

Oil retailers hiked the price of petrol and diesel by 40 paise a litre and 45 paise a litre, respectively. This is the fourth consecutive hike since Sunday, after a gap of more than 80 days. In the last four days, the price of petrol has gone up by 2.14 a litre and that of diesel by 2.23 a litre (Delhi rates).

10 Jun 2020, 10:14:48 AM IST

Cipla acquires 22% stake in GoApptiv

The pharmaceutical major has signed an agreement with GoApptiv to acquire 21.85% stake in the latter on a fully diluted basis. The acquisition will take place in two stages and is valued at 9 crore. Cipla will strengthen its partnership with GoApptiv to reach tier 3+ towns through the latter's solutions for end-to-end brand marketing and channel engagement.

10 Jun 2020, 09:55:53 AM IST

Adani Green Energy jumps 5%

Shares of Adani Green Energy surged nearly 5% to 328.35 on the BSE as Gautam Adani, chairman of Adani Group, said in a conference call that there is room to dilute 10-15% stake in the company and that some have shown interest in buying stake in it. The firm aims to win 10GW of projects in six-eight months.

10 Jun 2020, 09:51:03 AM IST

Sensex constituents mixed

View Full Image
10 Jun 2020, 09:47:42 AM IST

Technical view

"Even though the Nifty has opened in the positive this morning, I would like to maintain a cautious stance on the upside. There is a possibility that it moves towards 10,200, which could act as a resistance. One can trade on the short side from those levels for a target of 9,950. I would advice traders to be cautious with their positions," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

10 Jun 2020, 09:45:42 AM IST

Hero MotoCorp declines on weak Q4 show

Shares of Hero MotoCorp slipped 1.8% to 2,343.00 on the BSE as the auto major reported weak numbers for the March quarter. The auto major's standalone net profit fell 15% year-on-year (YoY) to 620.7 crore during the March quarter. Revenue from operations also declined 20.8% from a year ago to 6,238.4 crore in January-March of fiscal 2020.

10 Jun 2020, 09:19:53 AM IST

Market opening

Indian equity market opened higher.

10 Jun 2020, 09:19:23 AM IST

Asian stocks mixed

Asian shares eked out a 10th consecutive session of gains, but momentum ebbed as doubts about the global recovery from the pandemic returned ahead of the US Federal Reserve meeting. The sideways moves in equities cap two weeks of stock market gains, turbocharged by Friday's data showing a completely unexpected rise in US employment last month.

10 Jun 2020, 09:00:17 AM IST

Crude oil price check

Oil retreated toward $38 a barrel after a US industry report signalled a surprise jump in crude inventories, raising fresh concerns about excess supply. Futures dropped 1.9% in New York, erasing almost all of the gains from the previous session. The American Petroleum Institute (API) reported that stockpiles expanded by 8.42 million barrels last week, according to people familiar with the data. If confirmed by government figures on Wednesday, it would be the largest build since the end of April.

10 Jun 2020, 08:56:31 AM IST

Gold price check

Gold extended gains as global equity markets eased after a recent rally, while US Treasury yields dropped ahead of the outcome of the Federal Reserve's meeting that is expected to shed light on the state of the economy and further stimulus. Spot gold was up 0.1% at $1,715.43 per ounce, as of 0248 GMT, after posting its best day in a month on Tuesday. US gold futures also edged up 0.1% to $1,723.60.

10 Jun 2020, 08:55:06 AM IST

Dow Jones, S&P 500 slip

The Dow Jones Industrial Average fell 300.14 points, or 1.09%, to 27,272.3 and the S&P 500 lost 25.21 points, or 0.78%, to 3,207.18. However, the Nasdaq Composite added 29.01 points, or 0.29%, to 9,953.75, after crossing the 10,000 mark for the first time.

10 Jun 2020, 08:34:19 AM IST

US stocks end mixed; Nasdaq hits record high

The S&P 500 and Dow fell on Tuesday, pausing after recent strong gains as focus shifted to the US Federal Reserve, while the Nasdaq ended at an all-time high for a second straight day after briefly rising above the 10,000 mark for the first time. The Fed began a two-day meeting. While no major policy announcements are expected when the US central bank wraps up on Wednesday, investors will scrutinise its remarks on the health of the economy, which has been reopening after coronavirus-related closures.

Click here to read the Mint ePapermint is now on Telegram. Join mint channel in your Telegram and stay updated

My Reads Redeem a Gift Card Logout