Share market Updates : The Indian equities, Sensex, Nifty, opened higher on Monday after exit poll results predicted that the BJP would win the Lok Sabha elections 2019 with a thumping majority.
The BSE S&P Sensex is trading up at 919 points or 2.43 per cent at 38,850, while NSE Nifty is riding up 268.10 points or 2.35 per cent at 11,675 level, with 45 out of 50 componenets trading on the green.
On the corporate front, about 658 companies will declare their quarterly earnings numbers this week, including index heavyweights such as BPCL, HPCL, Tata Motors and Tech Mahindra. Analysts believe the market will cheer the prospect of a stable government at the centre. Also, the possibility of the BJP returning with absolute majority can lift the spirit further.
Here’s a look at live updates for the Indian share market today.
12:30pm: Reliance ADAG Group shares rally upto 12%
Shares of Anil Ambani-led Reliance ADAG Group companies, barring Reliance Communication which has recently filed for bankruptcy, gained between 4-12 per cent in early deals, led by Reliance Power which rallied 11.72 per cent in intra-day trade on the Bombay Stock Exchange. While Reliance Nippon Life Asset Management share price surged 9.96% to Rs 210, Reliance Capital jumped 9.26% to Rs 125.60.
12: 20 pm: Views on Exit polls’ and market reaction according to Mr Ajay Bodke, CEO at Prabhudas Lilladher,”Any indication of BJP alone getting a majority can lead to a sharp upsurge in equity markets and strengthening of Rupee. As markets have already discounted an NDA victory such an outcome will lead to markets trading sideways with focus on the onerous quid-pro-quo in terms of plum ministries (especially economic & resources) that could be demanded by BJP’s allies.”
12: 15 pm: Market Update: BSE Sensex is at 38944.34 up by 1013.57 points or by 2.67 per cent and then NSE Nifty is trading at 11710 up by 302.85 points or by 2.65 per cent.
The BSE Sensex touched intraday high of 38972.75 and intraday low of 38570.04 The NSE Nifty touched intraday high of 11713.9 and intraday low of 11591.7.
The top gainers of the BSE Sensex pack were State Bank of India, YES Bank, Larsen & Toubro, ICICI Bank, IndusInd Bank, among others. The top losers of the BSE Sensex pack were Bajaj Auto Ltd., Infosys Ltd. , among others.
The top gainers of the NSE Nifty are Adani Ports, Grasim Industries, State Bank of India, Indiabulls Housing Finance and YES Bank. The top losers of the NSE Nifty pack are Dr. Reddy, Zee Entertainment, Tech Mahindra, Bajaj Auto and Infosys.
12:10pm: JK Cement rises over 7%. The company reported ther quaterly results on Saturday with Rs 10 recomendation on dividend, Q4 Net profit stood at Rs 149.9 cr versus Rs 96.4 cr, up 55.6 per cent and the revenue was at Rs 1,491.9 cr against Rs 1,315.9 crore, up 13.4 per cent YoY.
The stock has gained 8.59 per cent to day’s high today at Rs 919 on BSE.
The company also announced that the board has decided to raise fund by issue of secured/redeemable NCD in one of more series/tranches on private placement basis for an amount upto Rs 500 cr.
11:40am: All the indices are extending gains. Highest gain is observed in Capital Goods at 4.48 per cent, followed by BSE Realty, up 4.30 per cent, industrials at up 4.29 per cent gain. Oil and Gas and Energy both stood at 4 per cent hike, followed by Basic Materials, Metal and power indices.
The lowest gains are observed in BSE IT, TECK and Healthcare, both gaining between 0.20 to 0.40 per cent.
11:20am: Indiabulls Housing rises over 7 per cent. The housing finance giant has announced to the exchanges that the company has made timely payment of interest / principal (as the case may be) in respect of the following NCDs issued by our Company, on private placement basis on 17 May, after market hours.
The top gaining stock of Nifty has been on a rising streak since last 5 days at the rate of 18.31 per cent. The housing finance stock opened with a gain of 5.09 per cent against the previous close of Rs 721.15 and climbed to the day’s high at Rs 780.00, a 7.85 per cent gain. The stock is currently trading at Rs 776.59, up 55 points of 7.69 per cent on BSE.
10: 55am: Welspun Enterprises rises 13.87 per cent.Following the news that the company received provisional completion certificate for commencing commercial operation of the Dewas Industrial Water Supply Project (finished ahead of the scheduled completion date), the stock rose 13.87 per cent to Rs 118.60 to day’s high.
10:30am: BPCL, HPCL, Tata Motors, Tata Motors DVR, Bharat Forge, NDTV, Torrent Pharmaceuticals, Glaxosmithkline Pharmaceuticals, Celebrity Fashions, Dhampur Sugar Mills, HEG, Indostar Capital Finance, Simplex Projects, Kernex Microsystems, SREI Infrastructure Finance and Alchemist are among the companies that are topost their fourth quaterly results today.
10:05am: Jubilant Life Sciences slips nearly 6% on weak Q4
Shares of Jubilant Life Sciences tumbled nearly 6 per cent in early trade after it reported a net loss of Rs 100.65 crore in the fourth quarter ended March 31, 2019, dented by one time loan settlement with International Finance Corporation (IFC). Revenue was up 5.9% at Rs 2,385.6 core as compared to Rs 2,274.87 crore last year.
9:55am:Tata Power shares zoom 10%
Shares of Tata Power Company rallied 10 per cent in early trade on Monday. Last week, the power utility has signed a Memorandum of Understanding (MoU) with Mahanagar Gas Limited (MGL) to foray into emerging e-mobility business.
9:50am: The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 1872 traded shares, 1478 advanced, while 319 declined, and 75 were unchanged.
9:45am:Adani shares up 11%
Shares of Adani Enterprises rallied 11 per cent in early trade on Monday in line with benchmark indices after a majority of exit polls for Lok Sabha election 2019 indicated the National Democratic Alliance (NDA) is coming back to power.
9:40am: All sectoral indices trade in green
On the sectoral front, all the indices were trading in green, while realty and capital goods stocks were among top gainers on the BSE, rising as much as 3.96 per cent and 3.82 per cent, respectively.
9:35am: Cipla shares up 2.5% after USFDA issues no observations
Shares of Cipla gained 2.5 percent in the early deals on Monday after USFDA issued zero observations for its Indore facility.
9:30am: Indian benchmarks surged nearly 2 per cent in opening deals today as investors were boosted by the prospect of a stable government at the centre. Also, the possibility of the BJP returning with absolute majority can lift the spirit further. As per India Today-Axis My India Exit Poll, the Bharatiya Janata Party (BJP)-led NDA will win around 339-365 seats, while the Congress party will be reduced to 77-108 seats.
9:25am: Oil update
Oil prices surged 1% on Monday after Saudi Energy Minister Khalid al-Falih said that oil producing countries have agreed to continue limiting supplies, Reuters reported. Brent crude futures stood at USD 72.98 a barrel around 5:30 am, up 1.1 per cent, against the previous close.
9:20am: Rupee opens higher against dollar
The Indian rupee opened higher by 73 paise at 69.49 per dollar on Monday against previous close 70.22, tracking positive cues from equity market.
9:15am: Opening bell
The Indian equities, Sensex, Nifty, opened higher on Monday after exit poll results predicted that the BJP would win the Lok Sabha elections 2019 with a thumping majority. The BSE Sensex was trading at 38,831.09, up by 900.32 points or by 2.37 per cent, and the NSE Nifty was at 11651.9, up by 244.75 points or by 2.15 per cent. In line with benchmark indices, the broader market also surged in opening trade, with the BSE MIDCAP trading at 14,685.83, up by 377.47 points or by 2.64 per cent. The BSE SMLCAP was at 14,179.85, up by 292.71 points or by 2.11 per cent.
9:00am: Global update
Overseas, Asian markets were mostly trading higher, barring Shanghai SE Composite Index and Hang Seng, despite rising trade tensions between the US and China.
Positive trends on SGX Nifty indicate a strong opening for the benchmark indices in India. The SGX Nifty Index Futures for May delivery were trading at 11,679, up by 244.50 or 2.14 per cent, at 9:52 AM, Singapore Time.