Closing bell:
The benchmark indices closed today's volatile session on a negative note. The Nifty finished the June F&O session at 10,288.90, down 16.40 points or 0.16 per cent.
The BSE Sensex ended at 34,842.10, down 26.88 points or 0.08 per cent.
Asian Paints, ITC, Eicher Motor were the top gainers. While, ICICI Bank, IndusInd Bank and Powergrid were top laggards.
Nifty FMCG and Pharma ended in green zone, while IT and Media closed in red.
Stock update:
Shares of GIC Re zoomed over 8 per cent after the company reported near doubling of its net income to ₹1,197.4 crore for the March quarter.
The stock jumped 8.51 per cent to ₹165.75 on the BSE.
On the NSE, it surged 8.27 per cent to ₹165.45.
BSE Sensex update:
Covid update: Hyderabad-based Hetero Labs has set the price of its basic version of remdesivir, Gilead's experimental Covid-19 drug, at Rs.5,400 ($71) per 100-milligram vial.
The company is now prepared to supply the drug to hospitals across India, Reuters reported. Hetero Labs said it would supply 20,000 vials of the drug.
The pricing announcement comes after its contemporary, Cipla Ltd, said it had priced its version of remdesivir below Rs 5,000.
News update:
South-based lender Federal Bank will be paying over Rs 80 crore to buy additional four per cent stake in its life insurance joint venture IDBI Federal Life Insurance, a top official has said.
The stake buy from the state-run IDBI Bank will take Federal Bank’s stake in the 12-year-old company to 30 per cent, the maximum permissible level for a lender under the regulations, its Managing Director and Chief Executive Shyam Srinivasan said. READ MORE.
Stock update:
Shares of Karur Vysya Bank rallied over 8 per cent after the firm reported 39.5 per cent jump in net profit for the quarter ended March 2020.
The lender’s stock jumped 8.13 per cent to Rs 33.90 on the BSE.
On the NSE, it gained 8.45 per cent to Rs 34.
The bank on Wednesday reported 39.5 per cent jump in net profit at Rs 83.70 crore for the quarter ended March 2020 on higher income from other sources.
Stock update:
Shares of GIC Re zoomed over 8 per cent after the company reported near doubling of its net income to Rs 1,197.4 crore for the March quarter.
The stock jumped 8.51 per cent to Rs 165.75 on the BSE.
On the NSE, it surged 8.27 per cent to Rs 165.45.
State-owned reinsurer GIC Re on Wednesday reported near doubling of its net income to Rs 1,197.4 crore for the March quarter, driven by investment income.
Covid update:
India registered its worst single-day increase in Covid-19 cases on Thursday, recording more than 16,000 coronavirus infections, to push the overall tally to 4.73 lakh as the number of fatalities also jumped by 418, the Union Health Ministry said.
This was the sixth consecutive day when coronavirus cases increased by more than 14,000. On June 20, the country registered an increase of 14,516 cases. On June 21, the increase was of 15,413 cases; 14,821 cases on June 22; 14,933 cases on June 23; and 15,968 cases on June 24.
Stock update:
Shares of Canara Bank on Thursday fell by nearly 7 per cent after the company reported a standalone net loss of ₹3,259 crore for the quarter ended March.
On the BSE, the stock declined 6.76 per cent to ₹102.05. It plunged 6.84 per cent to ₹102 on the NSE.
Rupee call:
Today, the rupee (INR) has begun the session on a flattish note against the dollar (USD). It has opened at 75.75 versus its previous close of 75.72 and thus the local currency has slipped below the support of 75.6.
If the weakness persists, the rupee might depreciate further to 75.8 and 76 – a critical support. A break below 76 can result in a sharp sell-off. On the other hand, if INR gains and rallies above 75.6, it could advance to 75.4, above which it could move to 75.15.
Forex update:
The dollar held firm as an increase in coronavirus cases in the United States (US) undermined hopes for a quick turnaround in the pandemic-hit economy and prompted traders to cuts bets on riskier currencies.
The dollar's index against a basket of currencies strengthened to 97.21.
The euro retreated to $1.1251 while the British pound also stepped back to $1.2423.
NSE gainers and losers:
BSE Sensex Update:
Global market update:
Asia's stock markets slipped, bonds rose and the United States (US) dollar was firm on Thursday as surging US coronavirus cases, global trade tensions and an International Monetary Fund downgrade to economic projections knocked confidence in a recovery.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7 per cent, Tokyo's Nikkei slumped 1.4 per cent and Australia's ASX 200 tumbled 1.8 per cent. US stock futures also declined 0.7 per cent following on from an overnight slide on Wall Street.
Opening bell: Benchmark indices opened today's session on weak note.
The BSE Sensex was at 34,516.24, dropping 352.74 points or 1.01 per cent. The NSE Nifty opened at 10,227.10, 78.20 points or 0.76 per cent.
All the sectoral indices are under pressure, except FMCG.
IndusInd Bank, ICICI Bank and Powergrid are the top losers.
9.10 am
Day trading guide:
₹1032 • HDFC Bank
S1 | S2 | R1 | R2 | COMMENT |
1025 | 1010 | 1055 | 1070 | Fresh long positions can be initiated with a tight stop-loss if the stock reverses higher from ₹1,025 levels |
₹714 • Infosys
S1 | S2 | R1 | R2 | COMMENT |
710 | 700 | 730 | 740 | Infosys can remain bullish above ₹700; so, buy on dips while maintaining a stiff stop-loss at ₹700 |
₹191 • ITC
S1 | S2 | R1 | R2 | COMMENT |
188 | 182 | 197 | 203 | As the stock bounced off a support, consider initiating fresh long positions on declines with stop-loss at ₹185 |
₹83 • ONGC
S1 | S2 | R1 | R2 | COMMENT |
80 | 78 | 88 | 91 | Though ONGC is bearish, ₹82 is a good support. Hence, go short with tight stop-loss if it breaks below ₹82 |
₹1727 • Reliance Ind.
S1 | S2 | R1 | R2 | COMMENT |
1705 | 1685 | 1735 | 1750 | Fresh long positions are recommended with a tight stop-loss only if the stock jumps above ₹1,735 levels |
₹184 • SBI
S1 | S2 | R1 | R2 | COMMENT |
178 | 175 | 187 | 190 | Since the stock of SBI displays weakness, initiate fresh short positions on rallies with stop-loss at ₹190 |
₹2042 • TCS
S1 | S2 | R1 | R2 | COMMENT |
2010 | 1990 | 2055 | 2075 | Consider initiating fresh long positions with a fixed stop-loss only if the stock rallies above ₹2,055 levels |
10299 • Nifty 50 Futures
S1 | S2 | R1 | R2 | COMMENT |
10260 | 10200 | 10345 | 10400 | Initiate fresh long positions with tight stop-loss if the contract reverses higher from the support at 10,260 |
S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.