Share Market LIVE:After a volatile start, equity indices Sensex and Nifty turned bullish and traded 0.45% higher each on Friday, amid heavy buying in PSU banking and auto scrips. Traders said market turned has turned bullish to bearish in a volatile move as investors awaited October-December quarter earnings and the release of the budget. Sensex gained 170 points to trade at 41,556 level and Nifty rose 56 points to 12,236. Except IT and realty index, all the other sector-based indices traded in the green. YES Bank, UPL, Indian Oil, Coal Indian and Zee Entertainment were trading as the top gainers on Friday. PowerGrid, Kotak Bank, Adani Ports, Infosys and Bharti Airtel were the top losers today. Sectorally, except IT, financials and metal, all the other indices traded in the green. Yesterday, indices traded on a bullish note and closed 0.60% higher, as stock-specific action post Q3 result announcements kept domestic benchmarks buoyed. Sensex ended 271 points higher at 41,386 and Nifty closed 73 points higher at 12,179. Globally, indices traded mixed today, amid coronavirus outbreak, that has killed 18 people in China and infected around 650 globally. Asian and US indices traded slightly higher after the World Health Organisation (WHO) said the latest coronavirus did not yet constitute a global public health emergency. The SGX Nifty on the Singaporean exchange traded 9 points lower, indicating a flat with negative bias trading in the domestic markets today.
Here’s a look at the live updates of the market action on BSE and NSE today:
Rupee trades 5 paise lower
11: 40 AM
As spread of a deadly new virus from China kept investors edgy, the rupee opened weak at 71.34 at the interbank foreign exchange market, but it recovered some lost ground to touch 71.30 against the US dollar in morning trade.
Besides, rise in crude oil prices and lower opening in the domestic equity market also impacted the rupee movement, forex dealers said. However, fresh foreign fund inflows supported the Indian currency, they added.
Market Update
11: 30 AM
Market investors are now keeping a close watch on the Union Budget 2020 on Feb 1, for clues on the government’s measures to revive economic growth, which has slipped to a more than six-year low. Traders are advised to be cautious in this week regarding trades as the pre budget movements tend to keep markets volatile and are further advise to trade, keeping thier stoploss tight.
Bank of Baroda trades higher ahead of Q3 results
11: 25 AM
Shares of Bank of Baroda, the country’s second-largest public-sector bank, was up 0.79% ahead of its earnings announcement for the December quarter.
Nippon Asset Life rises 3.5% higher post Q3 result
11: 20 AM
Shares of Nippon Life India rose 3.5% higher intraday on Friday, after the company posted healthy earnings for December quarter. Nippon Life India Asset Management’s Consolidated net profit grew 36.34% higher to Rs 149.32 crore for the period ended December 31, 2019 as against Rs 109.52 crore for the period ended December 31, 2018. Net sales recorded a de-growth of 10.73% YoY to Rs 360.64 crore in Q3 FY20 as compared to Rs 403.97 crore during Q3 FY19. The board has also approved an interim dividend of Rs 3.
Market Update
11: 10 AM
Traders said market turned has turned bullish to bearish in a volatile move as investors awaited October-December quarter earnings and the release of the budget. Sensex gained 170 points higher to trade at 41,556 level and Nifty rose 56 points to 12,236. In global cues, Asian and US indices traded slightly higher after the World Health Organisation (WHO) said the latest coronavirus did not yet constitute a global public health emergency.
Adani Ports trades 1.4% lower
10: 50 AM
Adani Ports fell 1.4% lower today after the company said in a clarification reply that it not comment on speculative news reports or rumors, such as the speculative news report mentioned in the captioned email/letter. At this point in time, there is no event/information that requires disclosure. However, the company shall make appropriate public disclosures in accordance with the SEBI (LODR) Regulations, the filing added later.
Exchanges BSE and NSE had earlier asked clarification by the company following media reports that quoted,’Adani arm set to buy GMR Group’s greenfield port/ SEZ in Kakinada’.
As per the article, Adani Ports and Special Economic Zone Ltd (APSEZ) is set to take over the greenfield commercial port in Kakinada and the adjoining SEZ in East Godavari district fully from the Hyderabad-based GMR Group.
Market rises further
10: 40 AM
After a volatile start, equity indices Sensex and Nifty turned bullish and traded 0.45% higher each on Friday, amid heavy buying in PSU banking and auto scrips. Sensex gained 170 points higher to trade at 41,556 level and Nifty rose 56 points to 12,236.
Infosys falls 1%
10: 35 AM
Infosys shares declined 1% on Friday following reports that the market regulator SEBI is set to order a forensic audit in the Infosys whistleblowers’ allegations. The development comes days after audit committee of the company’s board gave clean chit to its executives in the matter.
Bharti Airtel’s CRO resigns
10: 30 AM
As per an PTI report, Bharti Airtel’s Chief Regulatory Officer Ravi Gandhi has resigned to pursue career outside the company, according to industry sources. The development comes at a time when Bharti Airtel is embroiled in a legal battle in adjusted gross revenue case and several other cases pending in various courts that can have financial implications on the telecom company.
Telecom shares in focus
10: 25 AM
Shares of telecom companies were trading lower today. Bharti Airtel shares traded 1% lower while shares of Vodafone Idea fell 2.1% intraday as the telecos communicated to the telecom department that they will not pay AGR dues, the deadline for which ends on Thursday. The telecom majors added that they will wait for the outcome of modification petition listed for hearing before the Supreme Court next week.
In the meanwhile, Reliance Jio, a wholly owned subsidiary of Reliance Industries, has paid its statutory dues of Rs 177 crore to the government, becoming the only telecom company to meet the Supreme Court’s deadline of January 23. Shares of Reliance Industries rose 0.6% higher today.
Telcos were collectively asked to pay AGR dues worth Rs 93,000 crore to the DoT.
YES Bank top gainer today
10: 15 AM
Shares of YES bank were the top gainers of BSE and NSE, rising nearly 5% on Friday, after the comments on the troubled lender by SBI Chairman at Davos. State Bank of India Chairman Rajnish Kumar said that the private lender ‘will not be allowed to fail’. Kumar reportedly said that he’s certain “some solutions will emerge” to resolve YES Bank’s crisis, which has been on a prolonged quest to raise new capital. Following the comments, shares of YES Bank had surged over 7% on Thursday.
HDFC Life declines 2% post Q3 result
10:00 AM
HDFC Life Insurance share price touched an intraday low of Rs 603, falling 2.07% on Friday’s trade after the company declared earnings for December quarter, that were below street estimates. The company has posted 2.66% rise in its net profit at Rs 251.09 crore for the period ended December 31, 2019, as against Rs 244.58 crore for the period ended December 31, 2018. The company has reported 25.2% growth in its net sales of Rs 11,649.40 crore during October-December quarter, as compared to Rs 9,304.69 crore during the same quarter in the year ago period.
PNB Housing falls 11% post Q3 result
9: 55 AM
PNB Housing Finance fell to an intraday low of Rs 483, declining 11% on Friday, after the company declared poor quarterly results yesterday. Net profit of the housing finance company fell 21.77% to Rs 237 crore for the period ended December 31, 2019, as against Rs 302.97 crore for the period ended December 31, 2018. Company’s revenue for the quarter under review came in flat (decline of 0.18% YoY) at Rs 2,075 crore in Q3 FY20 as compared to Rs 2,078.46 crore in Q3 FY19. Company’s tax expense in Q3 FY20 fell to Rs 61.2 crore as against Rs 138.6 crore in Q3 FY19 (YoY).
Market turns bullish
9: 45 AM
After a negative start, equity indices turned green and traded 0.20% higher each on Friday. Sensex gained 100 points to trade at 41,465 level and Nifty rose 23 points to 12,203. Except IT and realty index, all the other sector-based indices traded in the green.
Gainers and losers today
9: 30 AM
YES Bank, UPL, Indian Oil, Coal Indian and Zee Entertainment were trading as the top gainers on Friday. PowerGrid, Kotak Bank, Adani Ports, Infosys and Bharti Airtel were the top losers today. Sectorally, except IT, financials and metal, all the other indices traded in the green.
Market opens lower on Friday
9: 20 AM
Equity market indices Sensex and Nifty opened flat and fell to bearish territory on Friday, tracking mixed cues from global key indices, amid October-December earnings season. Sensex traded 100 points lower at 41,285 and Nifty fell 10 points lower to trade at 12,170.
Companies that declared Q3 results on Thursday
9: 05 AM
Canara Bank, DB Corp, HT Media, Oriental Bank of Commerce, PVR Ltd, JM Financial, GHCL, Nippon Life India Asset Management, PNB Housing Finance and HDFC Life Insurance will be under investors’ scanner on Friday’s trade as the companies have published their quarterly earnings for the October-December period yesterday, post market hours.
FII/ DII action today
9:00 AM
On a net basis, foreign institutional investors bought equities worth Rs 1,352.13 crore, while domestic institutional investors offloaded shares worth Rs 984.56 crore on Thursday, data available with stock exchanges showed.
Global Market Update
8: 55 AM
Globally, indices traded mixed today. The coronavirus outbreak, that has killed 18 people in China and infected around 650 globally, has strained the global equity market, but worries were faded after World Health Organization (WHO) said it was “a bit too early” to declare a global health emergency. It called the new coronavirus an emergency in China” on Thursday, but stopped short of declaring the epidemic of international concern.
US stocks closed mixed on Thursday. The Dow Jones Industrial Average fell 26.18 points, or 0.09%, to 29,160.09, the S&P 500 gained 3.79 points, or 0.11%, to 3,325.54, and the Nasdaq Composite recorded closing high, rising 18.71 points, or 0.2%, to 9,402.48.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose a marginal 0.1%, while Japan’s Nikkei and South Korea’s KOSPI fell marginally. Shanghai Composite was trading 86 points lower, while Strait Times, Taiwan and traded marginally higher. Australian stocks added 0.4%.
SGX Nifty on the Singaporean exchange traded 9 points lower, indicating a flat with negative bias trading in the domestic markets today.
Earnings Today
8: 50 AM
Q3 Earnings Today: Bank of Baroda, Indian Bank, Ultratech Cement, Ion Exchange, JSW Steel, Prestige Estates Projects, Sonata Software, Wendt (India), Emkay Global Financial, Supreme Industries, EIH Ltd, Atul, Kirloskar Industries, Aavas Financiers among others will release their third quarterly earnings today.
Stocks in focus today
8: 45 AM
Bank of Baroda, Indian Bank, Ultratech Cement, HDFC Life, PNB Housing among others are the top stocks to watch out for in Friday’s trading session
Last Close
8: 30 AM
Yesterday, indices traded on a bullish note and closed 0.60% higher, as stock-specific action post Q3 result announcements kept domestic benchmarks buoyed. Sensex ended 271 points higher at 41,386 and Nifty closed 73 points higher at 12,179. Sectorally, except media, all the other indices ended in the green today, with realty climbing over 2%, followed by 1% gain in banking scrips.
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