Share Market Highlights: Sensex sees sharp recovery from lows, ends 190 points down; RIL share price drops over 6%

By: |
Updated: May 12, 2020 6:13:26 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: 10 stocks out of 30 Sensex stocks ended in negative territory. RIL was the top Sensex loser, down 6.12 per cent, followed by Asian Paints, Kotak Mahindra Bank and HUL

Share Market Today, Share Market LiveNifty Metal gained over a per cent led by Vedanta, JSW Steel and Hindalco Industries

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity market benchmarks BSE Sensex and Nifty 50 trimmed their opening losses and settled over half a per cent down on Tuesday. BSE Sensex ended the session 190 points or 0.60 per cent down at 31,371, while the Nifty 50 index slipped below 9,200 to finish at 9,196. 10 stocks out of 30 Sensex stocks ended in negative territory. RIL was the top Sensex loser, down 6.12 per cent, followed by Asian Paints, Kotak Mahindra Bank and HUL. On the flip side, NTPC was the top Sensex gainer with a growth of 5.71 per cent. Bharti Airtel, ITC, Power Grid were among other gainers on the index. Most of the sectoral indices traded in green. Nifty Pharma index fell 0.65 per cent weighed down by Piramal Enterprises, Cipla and Biocon. Conversely, Nifty Metal gained over a per cent led by Vedanta, JSW Steel and Hindalco Industries.

Seeking immediate support for the Indian economy hit by COVID-19, industry body Ficci said additional fiscal support of Rs 4.5 lakh crore is required at the current juncture besides a quick release of Rs 2.5 lakh crore stuck in refunds and other government payments. In a letter to Finance Minister Nirmala Sitharaman, Ficci President Sangita Reddy also made a case for the need to create a self-sufficiency fund for innovation, construction and manufacturing clusters to make use of the emerging opportunities in the wake of disruption in global supply chain.

Read More

Live Blog

Highlights

    16:33 (IST)12 May 2020
    Morgan Stanley favours these two Indian stocks; expects ZERO GDP growth for India this year

    Global brokerage and research firm Morgan Stanley is bullish on two Indian stocks despite favouring China and Japan instead of the emerging markets such as India. The brokerage has termed both ICICI Bank and Tata Consultancy Services (TCS) shares as “high conviction ideas to own” while featuring them on its Global Emerging Market Focus List. ICICI Bank and TCS shares have outperformed the MSCI emerging markets index since the respective inclusion in the focus list. Morgan Stanley said that the global economy appears headed to its most severe recession in the post-war era but highlighted China and Japan as potential markets that could outperform the emerging markets.

    Read full story

    16:18 (IST)12 May 2020
    MSCI expected to rejig global indices today; top brokerages pick stocks that may gain most

    With the MSCI expected to rebalance its indices later today, a wide range of stocks have been coming up in various recommendations by major brokerage and research firms. The change in Indices could also see India’s investability weightage increase in MSCI’s global indices, bringing in billions of dollars in foreign inflows. The stocks that could be included in MSCI India range from pharma majors to consumer giants and engineering firms. More clarity will only come once MSCI puts the names out, however here are all that has been predicted so far by leading brokerage firms.

    Read Full story

    15:24 (IST)12 May 2020
    Sensex, Nifty trim losses in last hour of trade

    Sensex was trading at 31,413, down 148.22 points or 0.47 per cent, while the Nifty 50 index was ruling at 9,213, down just 26.15 points or 0.28 per cent.

    Check live Sensex, Nifty levels

    15:03 (IST)12 May 2020
    Tata Power says ‘no’ to loan moratorium; says, ‘we’ll pay our debt, thanks to RBI’s LTRO facility’

    While Tata Power earlier sought to defer its loan repayments under a debt servicing moratorium allowed by the RBI, it later found a better option in the central bank’s LTRO funding scheme, dropping the idea of taking a moratorium on its loan repayments. On the contrary, Tata Power has now hastened the debt repayment after the coronavirus pandemic reshaped situations.

    Read full story

    14:18 (IST)12 May 2020
    Govt loses this much GST revenue as coronavirus eats up retail trade worth lakhs of crores of rupees

    With India being under a lockdown for over a month now, the retail sector has reported massive losses, impacting the GST revenues of the central and state governments. “The Indian retail sector has lost a gigantic sum of approximately Rs 7.50 lakh crore business in this period which has resulted in GST revenue loss to central and state governments to the tune of about Rs 1.15 lakh crores,” the Confederation of All India Traders (CAIT) said in a statement on Tuesday.

    Read full story

    13:55 (IST)12 May 2020
    Time to rejig your mutual fund portfolio post Franklin failure? How to stay safe from such fiascos | INTERVIEW

    After winding up six debt mutual fund schemes, Franklin Templeton clarified that it will periodically sell the underlying debt instruments to return investments made by unitholders. With the crisis in the mutual fund industry, Omkeshwar Singh, Head of RankMF, Samco Securities, advises investors to stay prudent while investing in debt funds. Singh further elaborates and reveals if this is the right time to rebalance the portfolio or not. Here are the excerpts of Omkeshwar Singh’s interview with Surbhi Jain of Financial Express Online.

    Read full interview

    13:43 (IST)12 May 2020
    Economic wheel starts churning as govt eases curbs; over 1,300 firms resume operations in Gurugram

    After the Narendra Modi-government stepped up to give some relaxations amid the nationwide lockdown, the wheels of the economy have started to churn. Nearly 1,300 industrial units employing over 1 lakh workers have been permitted to resume operations in Gurgaon after April 20. In addition, over 90 construction sites have also been permitted to start work in the city.

    Read full story

    13:10 (IST)12 May 2020
    RJio now constitutes 50% of RIL’s SOTP

    Oil and Gas has seen large increase in weight thanks to the huge outperformance of Reliance. O&G gained 310bp since Dec’19 and now constitutes 15.6% of Nifty. Interestingly, large part of the rally in Reliance Industries (RIL) has been led by developments in Telecom i.e. RJio. After the series of investments from multiple entities in Jio Platforms over the last three weeks, the company is now moving toward becoming debt free. In fact, RJio now constitutes 50% of RIL’s SOTP: Motilal Oswal

    13:02 (IST)12 May 2020
    Nifty IT index hold ground in weak market

    Nifty IT index gained over half a per cent in an otherwise weak market on Tuesday. Hexaware, Tech Mahindra, Infosys and Wipro were among top gainers on the index.

    Check live prices: Tech Mahindra

    13:00 (IST)12 May 2020
    RIL share price drops over 4%, top Sensex loser

    RIL share price was down over 4 per cent to Rs 1,511 apiece on BSE in Tuesday's weak trade. RIL hit day's high of Rs 1578 and low of Rs 1483.30.

    Check live prices: Reliance Industries 

    12:56 (IST)12 May 2020
    Sensex, Nifty trade weak in noon deals

    BSE Sensex was trading at 31,019.63, down 541.59 points or 1.72 per cent while the broader Nifty 50 index was ruling at 9,092.10, down 147.10 points  or 1.59 per cent.

    Check live Sensex, Nifty levels

    12:33 (IST)12 May 2020
    Reliance Industries share price up 72% since March lows, record date for rights issue nears

    Reliance Industries Ltd (RIL) share price is on an upward march and there seems to be no end to the surge. RIL shares after hitting a low of Rs 875 per share on March 23 have now jumped over 72% to trade at Rs 1,519 apiece. Although down 3% today, the V-shaped recovery path that the stock has charted for itself cannot be ignored. What makes Mukesh Ambani’s RIL even more attractive for retail investors is the firm belief that global investors have been showing in the stock, putting in over Rs 60,000 crore in its telecom arm Reliance Jio in just a few weeks' time.

    Read full story

    12:21 (IST)12 May 2020
    Report card of PSU bank credit in lockdown: Emergency credit soars; MSME, other cos get this much money

    The Finance Ministry has informed that the PSU banks have sanctioned loans worth nearly Rs 6 lakh crore for over 46 lakh accounts for the MSME, retail, agriculture & corporate sectors between the beginning of March and May 8, 2020. FinMin added that a total financing worth Rs 1.18 lakh crore was also provided to NBFCs.

    Read full story

    12:13 (IST)12 May 2020
    Healthcare and auto sectors among top gainers in April.

    All the sectors closed higher during the month of April with no losers. Healthcare (+26%), Autos (+24%), Oil (+20%), Metals (+18%) and NBFCs (+16%)were among the top gainers. Market breadth was positive with Nifty Midcap 100 / Smallcap 100 indices up 15.4% / 13.4% respectively. Notably, in the last 12 months, mid-caps were down 23% as against the Nifty's decline of 16%. Notably, over the last 5 years, mid-caps have underperformed by 15%. The Nifty Mid-cap100 P/E ratio stands at 14.4x (v/s 20x in Mar'19), a ~25% discount to large-caps. - Motilal Oswal

    11:08 (IST)12 May 2020
    Gold prices rise today after two-day fall as coronavirus cases spike; silver rates gain

    Gold prices edged higher today after a two-day fall as a stronger dollar countered fears of a new wave of coronavirus infections in many countries. Wuhan, the epicentre of the coronavirus outbreak in China, reported its first cluster of virus infections since the lockdown was lifted. On MCX, gold June futures were Rs 147 or 0.32 per cent higher at Rs 45,928 per 10 grams. While silver July futures surged Rs 160 or 0.37 per cent at Rs 43,390 per kg. “The trend in gold is positive amid a rise in investment demand,” Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Shares and Stock Brokers, said.

    Read full story

    10:54 (IST)12 May 2020
    Now, Gujarat opens up agriculture for privatisation after UP, MP; to allow own markets, check APMCs

    Gujarat has taken the agriculture reform a step forward after Uttar Pradesh and Madhya Pradesh state governments allowed traders to buy the agricultural produce directly from the farmers’ fields or homes, instead of state-run mandis. Ending the monopoly of the government-run Agriculture Produce Market Committee (APMC), Chief Minister Vijay Rupani’s Gujarat state government has allowed private entities to set up their own market committees or sub-market yards to compete and offer the competitive prices of the agricultural produce to farmers.

    Read full story

    10:37 (IST)12 May 2020
    What's dragging Sensex, Nifty today?

    Following the negative global cues, headline indices BSE Sensex and Nifty 50 were trading nearly 2 per cent down on Tuesday on the back of growing fears of the second wave of coronavirus infections. The 30-share index Sensex breached the crucial 31,000-mark and hit a day’s low of 30,922. While the broader Nifty 50 index slipped below the psychological level of 9,100, to trade at 9,067.

    Read full story

    10:20 (IST)12 May 2020
    Facebook, Apple, Google stocks on wish list: Indian investors’ interest soars in US stock market       

    More and more Indian investors have begun investing directly in the United States stock markets this year, in the hunt for overseas equities exposure and geographical diversification of portfolios amid a freefall in domestic share markets. Starting the trading journey in a foreign stock market has always been a fraught task but with new age investing methods making it less taxing, those FAANG stocks that investors always wanted are rapidly becoming a part of their portfolios. Stockal, a platform that enables investments in a diverse set of global assets from a single account, saw over 17,000 retail investors from India register on its platform.

    Read full story

    10:07 (IST)12 May 2020
    Mukesh Ambani looking to rope in more investors for Jio, Saudis and GA could be next

    The Saudi sovereign wealth fund and General Atlantic are among firms exploring investments in billionaire Mukesh Ambani’s digital business, as Asia’s richest man seeks to expand his operations outside oil and petrochemicals, people with knowledge of the matter said. Saudi Arabia’s $320 billion Public Investment Fund is considering buying a minority stake in Reliance Industries Ltd.’s Jio Platforms unit, according to the people, who asked not to be identified as the information is private.

    Read full story

    10:04 (IST)12 May 2020
    Rupee has a next near term resistance at 76.20 levels

    Rupee has a next near term resistance at 76.20 levels and the support for the pair shall be at 75.50 levels. Since the pair has broken its nearly two week resistance of 75.80, it could open up the room for further depreciation towards 76.20-76.50 levels. Also, if in the current week, rupee closes above 75.80 levels, it will blow up the lower highs pattern that the pair has formed from past three weeks: Amit Pabari, MD, CR Forex Advisors

    09:47 (IST)12 May 2020
    Gold prices could hover in the range of Rs 45,450-46,180

    Gold prices were steady in early trade after two straight sessions of fall as a stronger dollar countered fears of a new wave of coronavirus infections in many countries. Federal Reserve policymakers say they will do what it takes to cushion an economy crushed by the widespread lockdowns, but there's one thing they probably won't do: the negative interest rate. Japan, on the other hand, is considering to ease the state of emergency if virus infection is under control. Broader trend on COMEX could be in the range of $1690-1730 and on domestic front prices could hover in the range of Rs 45,450-46,180: Navneet Damani, VP, Motilal Oswal

    09:45 (IST)12 May 2020
    Gold opened with a green tick after two straight sessions of falls

    Gold opened with a green tick after two straight sessions of falls, as a stronger dollar countered fears of a new wave of coronavirus infections in many countries. Wuhan, the epicentre of the outbreak in China, reported its first cluster of virus infections since a lockdown on the city was lifted a month ago, stoking concerns of a wider resurgence. The trend is positive amid rise in investment demand: Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Shares and Stock Brokers 

    09:42 (IST)12 May 2020
    IRCTC share price hits upper circuit for second straight day

    IRCTC share price jumped 5% to hit upper circuit at Rs 1367.95 apiece on BSE in Tuesday's weak session as Indian Railways will gradually resume operations of passenger trains from today.

    Check live prices: IRCTC

    09:38 (IST)12 May 2020
    Bandhan Bank share price slips over 3% ahead of Q4 earnings

    Bandhan Bank share price slipped 3.32 per cent to Rs 231.65 apiece on BSE n Tuesday's weak trade ahead of March quarter earnings.

    Check live prices: Bandhan Bank

    09:27 (IST)12 May 2020
    Nifty Bank top sectoral loser

    Nifty Bank index was down 2.18 per cent or 413 points dragged by RBL Bank, HDFC Bank and Federal Bank.

    09:27 (IST)12 May 2020
    Top gainers and losers on BSE Sensex

    HDFC Bank was the top Sensex loser, down 2.83 per cent, followed by Asian Paints, Maruti Suzuki, ICICI Bank and Axis Bank. On the flip side, Sun Pharma was the top gainer on the Sensex pack, up 0.71 per cent. NTPC, Bharti Airtel, Nestle India, ITC and Tech Mahindra were among other gainers.

    09:27 (IST)12 May 2020
    Sensex, Nifty down 1% each

    The 30-share Sensex was down 390 points or 1.23 per cent at 31,171, while the broader Nifty 50 index was trading at 9,137, down 102 points or 1.10 per cent.

    Check live Sensex, Nifty levels

    09:08 (IST)12 May 2020
    HCL Rating: Buy — Another strong quarter for the company

    HCL Technologies (HCLT) delivered another strong quarter vis-à-vis estimates—USD revenues were flat q-o-q while CC revenues were up 0.8% q-o-q; Ebit margin expanded 70bps q-o-q to 20.9%, notably outperforming the estimate of 19.4%. Management abstained from issuing the guidance for FY21 citing uncertainty—in line with other IT players: Edelweiss

    Read full story

    09:00 (IST)12 May 2020
    Stocks in focus: RIL, IRCTC, Nestle India, Bandhan Bank among stocks to remain in action today

    The Nifty futures were trading at 9,159.30 on the Singaporean Exchange, suggesting a cautious start for the BSE Sensex and Nifty 50 index on Monday. Foreign institutional investors (FIIs) bought shares worth Rs 534.87 crore, while domestic institutional investors (DIIs) sold shares worth Rs 821.6 crore on Tuesday, according to the data available on the NSE. These stocks may remain in limelight in today’s trade

    Read full story

    08:37 (IST)12 May 2020
    ICICI Bank Rating: Buy; operating performance met estimates

    In Q4FY20, ICICI Bank reported PAT of Rs 12.2 bn (down 70% q-o-q) as the bank made higher provisions for COVID-19 related contingencies and NPAs. The bank reported NII growth of 17% y-o-y (in line with our estimate). Non-interest income growth of 18% was driven by Treasury and retail fee income. With opex growing 16% y-o-y, core operating profits grew 17% y-o-y (in line with our estimate): HSBC

    Read full story

    08:25 (IST)12 May 2020
    General Atlantic, Saudi sovereign wealth fund to invest in Reliance Jio

    The Saudi sovereign wealth fund and General Atlantic are among firms exploring investments in billionaire Mukesh Ambani’s digital business, as Asia’s richest man seeks to expand his operations outside oil and petrochemicals, people with knowledge of the matter said. Saudi Arabia’s $320 billion Public Investment Fund is considering buying a minority stake in Reliance Industries Ltd.’s Jio Platforms unit, according to the people, who asked not to be identified as the information is private, Bloomberg reported.

    08:22 (IST)12 May 2020
    Nifty to open with a cut of half per cent

    Nifty will open with a cut of half percent on the back of weak global cues. In the last couple of attempts, Nifty face resistance around 9400 now it is moving towards the lower side of the range 9100-9050. Banking and NBFC may face resistance on a consistent basis until their uncertainty persists in the economy. The options data suggest the range until the weekly expiry is 8950-9550. For Banknifty the range is 18170-19750. Life is coming back to normal slowly bet surely and the thing will improve daily basis with co-existence of Corona: Vishal Wagh, Head of Research, Bonanza Portfolio Ltd

    08:21 (IST)12 May 2020
    SGX Nifty suggests gap-down opening

    Trends on SGX Nifty suggest a gap-down start for Sensex and Nifty with a 70 points or 0.76 per cent loss. The Nifty futures were trading at 9,159.30 on the Singaporean Exchange.

    08:20 (IST)12 May 2020
    Asian stock market slips

    Asian equities were set to slip on Tuesday amid growing investor worries about a second wave of coronavirus infections after the Chinese city where the pandemic originated reported its first new cases since its lockdown was lifted, according to Reuters. Japan’s Nikkei 225 futures were off 0.1%. Australian S&P/ASX 200 futures fell 0.35%.

    08:20 (IST)12 May 2020
    Sensex, Nifty on Monday

    Sensex ended 81 points, or 0.26 per cent down at 31,561.22 and the Nifty settled 12 points, or 0.13 per cent lower at 9,239.20

    Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
    Next Stories
    1Motherson Sumi rating: Maintain ‘buy’ with target price of Rs 117
    2Jindal Steel rating: Buy — Raise target price to Rs 240
    3Sensex, Nifty gain for third straight day on positive economic data from US, China