Share Market Updates: Indian benchmark indices continue to trade on a positive note Wednesday, pressured by gains in IT, Metal and Auto stocks, amid tracking cues from global markets after US President Donald Trump hinted at the possibility of a trade deal with China in the future.
Sensex is trading up by 192 points or 0.51 per cent at 37,510, while Nifty is trading at 11,266, up by 44 points or 0.40 per cent. Of 30 stock on BSE Sensex, 20 are trading in the green and another 20 out of 50 stocks on NSE Nifty are advancing.
On the sectoral front, IT is leading by 0.72 per cent gain, followed by Pharma, gaining at 0.60 per cent. Metal, Auto and Finance Services indices are also trading up, each by 0.50 per cent. Except Media and PSU bank, all the other Nifty indices are trading in the green.
According to experts, investors are not very aggressive in the market as every rally will be used as an opportunity to book profit. Market is watchful of quarter earnings and election verdict too.
Here’s a look at live updates for the Indian share market today:
YES Bank top Nifty loser after RBI appoints additional Director
12 : 45 pm
YES Bank has informed the exchanges about appointment of an additional Director on the Board of the bank by Reserve Bank of India (RBI).
The bank said in the filing, “Reserve Bank of India informed that in exercise of powers conferred under Banking Regulation Act, 1949, appointed Shri R Gandhi, Ex Deputy Governor, Reserve Bank of India as Additional Director on the Board of the Bank for a period of 2 years with effect from May 14, 2019 to May 13, 2021 or till further orders, whichever is earlier.”
Shares of YES Bank Ltd. started on a negative note after opening 1.25 points below the last close of Rs 156.15 and fell to intraday low at Rs 146.85, down by almost 6 per cent, also its new 52 week low. The stock was top loser on Nifty in the early trading session.
US Pharma scandal
12 : 15 pm
A total of 44 US states on Monday filed a lawsuit against as many as 20 generic drug manufacturers, including seven Indian firms. Among these Indian firms, 5 have been sued by the state attorney generals and 4 are under DOJ (Department of Justice) investigation.
Severe penalties could be levied on the Indian pharma companies varying from $13 million to $873 million; Glenmark could face the highest penalty, while Aurobindo the least.
US pharma scandal: Indian firm Glenmark may face a penalty of up to $873 million
Severe penalties could be levied on the Indian pharma companies varying from $13 million to $873 million; Glenmark could face the highest penalty, while Aurobindo the least
11 : 45 am
BSE Sensex was at 37534.48 up by 215.95 points or by 0.58 per cent and then NSE Nifty was at 11275.55 up by 53.5 points or by 0.48 per cent.
The BSE Midcap was at 14216.59 up by 4.02 points or by 0.03 per cent. Similarly, the BSE Smallcap was at 13909.84 up by 66.25 points or by 0.48 per cent.
The BSE Sensex touched intraday high of 37552.49 and intraday low of 37368.04. The NSE Nifty touched intraday high of 11286.8 and intraday low of 11235.35.
Gainers and Losers
11 : 30 am
The top gainers of the BSE Sensex pack were Tata Stee, Tata Consultancy Services, Mahindra & Mahindra, Reliance Industries and Bajaj Finance.
The top losers of the BSE Sensex pack were YES Bank, Tata Motors, Tata Motors, Coal India and Bajaj Auto.
The top gainers of the NSE Nifty pack were Eicher Motors, Tata Steel, Bharat Petroleum Corporation, Mahindra & Mahindra and UPL.
The top losers of the NSE Nifty pack were Zee Entertainment Enterprises, YES Bank, Indiabulls Housing Finance, Coal India and Tata Motors.
11: 10 am
Top gaining index is BSE IT index, at 15465.57, up by 137.12 points or by 0.89 per cent, pressured by gaines in stocks namely Subex, 63 Moons Technologies, Tanla Solutions, Rolta India and Brightcom Group.
Top losing index on BSE was BSE Realty index, at 1919.14, down by 6.01 points or by 0.31 per cent, tracking losses in stocks namely DLF Ltd. , Indiabulls Real Estate, Sobha and Prestige Estates Projects.
Future and Options statistics from NSE
11 : 00 am
On NSE Future and Options, total number of contracts traded in index futures was 351523 with a total turnover of Rs. 25363.70 cr. Along with this total number of contracts traded in stock futures were 921322 with a total turnover of Rs. 51205.60 cr.
Total numbers of contracts for index options were 14194855 with a total turnover of Rs. 958245.08 cr and total numbers of contracts for stock options were 569378 with a total turnover of Rs. 33623.77 cr.
10 : 50 am
The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2275, shares advanced were 1212 while 885 shares declined and 178 were unchanged.
Volume and Turnover
10 : 45 am
On BSE, total number of shares traded was 56.79 Crore and total turnover stood at Rs. 7117.01 Crore.
On NSE, total number of shares traded was 177.28 Crore and total turnover stood at Rs. 34977.19 Crore.
10 : 30 am
According to traders, investors took cues for other Asian bourses which were trading higher after US President Trump hinted at the possibility of a trade deal with China, in a series of tweets.
“When the time is right we will make a deal with China… Respect and friendship with President Xi is unlimited,” he wrote.
“We can make a deal with China tomorrow, before their companies start leaving so as not to lose USA business” he added.
10 : 15 am
Brent crude futures, the global oil benchmark, were trading 0.31 per cent lower at USD 71.02 per barrel.
FII and DII on Tuesday
10 : 00 am
Foreign institutional investors (FIIs) sold equity worth Rs 2,011.85 crore on Tuesday, while domestic institutional investors (DIIs) purchased shares to the tune of Rs 2,242.91 crore, provisional data available with stock exchanges showed.
Gainers and Losers
9 : 45 am
Top losers in the Sensex pack include Yes Bank, Tata Motors, Sun Pharma, Coal India, NTPC, Hero MotoCorp, Bajaj Auto, HUL, Bharti Airtel, Asian Paints, ONGC and HDFC, shedding up to 3.04 per cent.
On the other hand, HCL Tech, Tata Steel, M&M, PowerGrid, Vedanta, RIL and TCS were the major gainers, rising up to 1.79 per cent.
9 : 30 am
The rupee appreciated by 23 paise to 70.21 against the US dollar in opening trade Wednesday, driven by easing crude prices, higher opening in domestic equities and on US-China trade talk hopes.
The rupee opened strong at 70.32 at the interbank forex market then gained further ground and touched 70.21 amid a positive opening in domestic equities, displaying gains of 23 paise over its last close.
Indian equity markets are expected to open flat on account of global cues. Asian markets are trading mixed. Nikkei bounced-back into positive territory. Hong Kong Index gained half a percent. SGX Nifty is flat to negative on the Singapore Exchange. US Futures was up 0.1% and US Dow Jones gained 1% after Trump moved to reassure markets that he’ll clinch a trade deal with China.
Jitters over the outcome of Lok Sabha election, ongoing US-China trade tensions, decline in economic indicators such as factory output and core sector growth, weakness in high-frequency indicators such as auto sales, and credit crunch in non-banking financial companies (NBFCs) led Sensex to log its fourth nine-day losing streak ever in the history of Indian financial markets.