Market updates: Nifty ends above 9,000, Sensex up 600 points

All the sectoral indices ended in green, led by Pharma stocks

3.40 pm

Closing bell:

Starting the day on positive note, the benchmark indices stayed in the same territory for the entire session. Although the growth was slow in the first half, post-noon the indices rallied sharply to end the day on a high note.

The NSE Nifty closed at 9,066.55, up 187.45 points or 2.11 per cent. Whereas, BSE Sensex ended at 30,818.61, up 622.44 points or 2.06 per cent. BPCL, Grasim, M&M were the top gainers. While Infratel, IndusInd were the top laggards.

All the sectoral indices ended in green, led by Pharma, Financial services, and Banks.

3.10 pm

Dr Reddy's Q4 net up 76% at ₹764 cr

Pharma major Dr Reddy’s Laboratories Ltd’s consolidated net profit increased 76 per cent at ₹764 crore in the fourth quarter ended March 31, 2020 as ...

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2.55 pm

Results:

Pharma major Dr Reddy’s Laboratories Ltd’s consolidated net profit increased 76 per cent at ₹764 crore in the fourth quarter ended March 31, 2020 as against ₹434 crore in the same quarter in the previous financial year.

2.40 pm

India adds 1.1 GW of solar in Q1 2020: Mercom India

India has added 1,080 megawatts (MW) of solar in the first quarter (Q1) of 2020, a 43 per cent decline compared to 1,897 MW installed in Q4 2019, ...

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2.20 pm

NSE Sectoral Indices update:

 

1.50 pm

NCDEX to launch futures trading on Agridex

Four contracts will be available for trading from May 26

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1.35 pm

Results:

L&T Infotech has reported a net profit of ₹427.5 crore for the quarter-ended March, an increase of 12.9 per cent year-on-year. In the corresponding year-ago period, the net profit was ₹378.5 crore. On a sequential basis, the net profit rose 13.48 per cent over the ₹376.7 crore posted in December 2019.

1.23 pm

 

NCDEX to launch futures trading on Agridex

Four contracts will be available for trading from May 26

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1.10 pm

Nifty 50 May Futures (8,971)

In the midst of mixed Asian markets, Sensex and Nifty started the session in a positive territory. The Nikkei 225 has climbed 0.8 per cent to 20,595 and Hang Seng index is hovering flat at 24,363 levels in today's session. Both Sensex and Nifty have advanced 0.7 per cent each. The market breadth of the Nifty index is biased towards advances. The volatility index - India VIX has slumped 6.5 per cent to 36.8 levels. The Nifty mid-cap has advanced 0.8 per cent and small-cap index has increased 0.6 per cent. Among the sectoral indices, Nifty IT index and Nifty PSU Bank index are marginally trading in the red. Top gainers are Nifty Pharma and realty indices which have advanced 1.5 per cent each.

Nifty Call: Buy with stop-loss at 8,935

Nifty 50 May Futures (8,971)In the midst of mixed Asian markets, Sensex and Nifty started the session in a positive territory. The Nikkei 225 has ...

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12.50 pm

News: Jaguar Land Rover (JLR), a part of Tata Motors, on Wednesday announced the rollout of first unit from Solihull facility in the UK, marking the end of temporary suspension of production at the plant due to coronavirus pandemic.

The first Range Rover made under new social distancing measures drove off the production line at the company’s manufacturing plant in Solihull on Wednesday, JLR said in a statement.

12.35 pm

Unleash your philanthropic spirit via SIP

Make your act of giving as regular as your investments because the country today needs more than what you can give.

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12.20 pm

Extremely severe cyclone Amphan on home stretch, heads for landfall

West Bengal coast on alert

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12.10 pm

NSE Sectoral update:

 

11.58 am

Tata Power shares surge 7 per cent on 2-fold jump in Q4 profit

Shares of Tata Power on Wednesday rallied 7 per cent after the company posted a two-fold rise in its consolidated net profit for the January-March ...

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11.45 am

Broker's call:

Aarti Drugs (Buy)

CMP: ₹766.7

Target: ₹1,028

Key takeaways: a) Aarti’s API sales were down 5 per cent to ₹400 crore as manufacturing and sales were curtailed in the last 10 days of Q4. Barring this, the company increased the proportion of antibiotics products to 44 per cent in FY20 (41 per cent in FY19), mainly due to higher ciprofloxacin, ofloxacin and norfloxacin sales.

Broker's call: Aarti Drugs (Buy)

Anand RathiAarti Drugs (Buy)CMP: ₹766.7Target: ₹1,028 Key takeaways: a) Aarti’s API sales were down 5 per cent to ₹400 crore as manufacturing and ...

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11.30 am

Real estate could see major headwinds in the short term: KPMG

With staggered revival, while the long-term outlook for real estate sector over the coming 18-24 months may likely emerge positive, the short-term ...

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11.20 am

Results:

Apollo Tyres reported a consolidated net profit of ₹78 crore for the fourth quarter ended March 31, down 7 per cent as compared to ₹84 crore in the corresponding period last year.

The consolidated net sales of the company also declined by 15 per cent to ₹3,551 crore during the January-March quarter, as compared to ₹4,176 crore in the same period previous fiscal.

Shares of Apollo Tyres fell over 2 per cent after the firm reported a 7.36 per cent decline in its consolidated net profit for the fourth quarter ended March 2020.

The stock declined 2.23 per cent to Rs 89.70 on BSE.

11.10 am

Why Bharti Airtel rallied post Q4 results, despite reporting a loss

High revenue growth, rise in ARPU and steady demand amidst Covid are positives. But the telco’s high debt remains a concern

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10.55 am

Daily rupee call:

The rupee (INR) commenced today’s session marginally higher against the dollar (USD) as it has opened at 75.57 versus yesterday’s close of 75.64. Yesterday, the local currency faced resistance at 75.6.

Rupee might weaken

The rupee (INR) commenced today’s session marginally higher against the dollar (USD) as it has opened at 75.57 versus yesterday’s close of 75.64.

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10.47 am

BSE Stock update:

 

10.30 am

India crosses 1-lakh mark in number of Covid-19 cases

Maharashtra shows poorest recovery rate; Kerala and Punjab fare best among States

Read More  

10.15 am

Results:

Ujjivan Small Finance Bank registered a 14.6 per cent increase in its net profit in the fourth quarter of 2019-20 to ₹73.1 crore compared to ₹63.78 crore a year ago.

Its net profit surged by 75.6 per cent in 2019-20 to ₹349.92 crore from ₹199.22 crore in 2018-19.

10.05 am

Oil market update:

Oil prices dipped on Wednesday as concerns over the lasting economic fallout from the coronavirus pandemic outweighed signs of improving demand and production cuts by major oil producers.

Brent crude futures for July delivery were trading down 11 cents, or 0.3%, at $34.54 per barrel at 0031 GMT.

9.50 am

Broker's call: Dr Lal PathLabs (Add)

ICICI SecuritiesDr Lal PathLabs (Add)CMP: ₹1,550.35Target: ₹1,710Dr Lal PathLabs is engaged in the business of running laboratories for carrying out ...

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9.40 am

Asian market update:

Asian stocks struggled to extend the week's rally and gold and bonds firmed as a sceptical press report dented some hopes for a COVID-19 vaccine and concerns about bumps in the global recovery from the pandemic returned.

MSCI's broadest index of Asia-Pacific shares outside Japan was flat. The risk-sensitive Australian dollar retreated from an overnight two-month high and safe-haven demand drove US Treasury yields back under 0.7%.

9.30 am

Opening bell:

After a positive but trimmed gains yesterday's close, the markets today opened higher today.

BSE Sensex rose 149.40 points to 30,345.57 in opening session, while NSE Nifty inched 36.45 points higher to 8,915.55.

9.15 am

Today's stock pick:

Adani Ports &  Special Economic Zone (₹319.3): Buy

Investors with a short-term horizon can buy the stock of Adani Ports and Special Economic Zone at current levels.

Adani Ports & Special Economic Zone (₹319.3): Buy

Investors with a short-term horizon can buy the stock of Adani Ports and Special Economic Zone at current levels.The stock jumped 8.8 per cent ...

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9.05 am

Day Trading Guide

₹832 • HDFC Bank

S1

S2

R1

R2

COMMENT

820

805

845

860

Consider initiating fresh short positions with a tight stop-loss if the stock falls below ₹820 levels

 

₹668 • Infosys

S1

S2

R1

R2

COMMENT

655

645

675

685

Initiate fresh long positions while maintaining a stiff stop-loss only if the stock of Infosys rallies above ₹675 levels

 

₹170 • ITC

S1

S2

R1

R2

COMMENT

167

164

173

176

Make use of intra-day declines to buy the stock of ITC with a fixed stop-loss at ₹167 levels

 

₹77 • ONGC

S1

S2

R1

R2

COMMENT

74

71

80

83

Fresh long positions are recommended with tight stop-loss only if the stock of ONGC climbs above ₹80 levels

 

₹1408 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1390

1370

1425

1440

Initiate fresh short positions with fixed stop-loss if the stock of RIL reverses down from ₹1,425 levels

 

₹152 • SBI

S1

S2

R1

R2

COMMENT

147

142

158

164

Fresh short positions are recommended with a stiff stop-loss only if the stock declines below ₹147 levels

 

₹1948 • TCS

S1

S2

R1

R2

COMMENT

1922

1900

1970

1990

Fresh long positions can be initiated with a tight stop-loss if the stock of TCS moves beyond ₹1,970 levels

 

8884 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

8800

8700

8950

9030

Initiate fresh long positions with a tight stop-loss if the contract advances above 8,950 levels

 

S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2. 

Published on May 20, 2020