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Economic Times | 04 Jun, 2020 | 10.21AM IST

Traders' Diary: Nifty sees immediate support at 10,000

19 of 30 Sensex stocks end the day in the green today.

!1 New UpdateClick here for latest updates
10:10 PM

RIL’s Rs 53,124 crore rights issue oversubscribed 1.59 times

Reliance Industries’ Rs 53,124 crore rights issue, which closed on Wednesday, received a robust response from shareholders as the issue got subscribed 1.59 times. The allotment of equity shares will happen on June 10. The rights shares are expected to be listed on the exchanges on June 12 under separate ISIN. The public portion of the rights got subscribed 1.22 times.
10:03 PM

Opec+ technical, ministerial committee meetings set for mid-June: Sources

Opec+ plans to hold its Joint Technical Committee and Joint Ministerial Monitoring Committee meetings around mid-June, two sources from the group of producers told Reuters on Wednesday. After the secondary source oil production numbers are out, the JTC meeting will be held and then a day after that the JMMC meeting, one of the sources said.
09:37 PM

Tata Steel to raise Rs 400 crore through NCDs

Tata Steel on Wednesday said its committee of directors has approved raising Rs 400 crore through a debt issue. In a filing to the BSE, the company said the committee approved allotment of 4,000 non-convertible debentures having face value of Rs 10 lakh each on private placement basis to identified investors.
09:19 PM

NLC India raises Rs 1,200 crore by issuing commercial papers

State-owned NLC India on Wednesday said it has raised Rs 1,200 crore by issuing commercial papers. "NLC India has issued and allotted 24,000 nos of commercial paper of face value of Rs 5,00,000 each aggregating to Rs 1,200 crore," the PSU said in a filing to BSE.
09:01 PM

HDFC offloads shares of HDFC Life worth over Rs 1,274 crore

Housing Development Finance Corporation (HDFC), promoter of HDFC Life, on Wednesday sold 2.6 crore shares of the insurance company worth a little over Rs 1,274 crore through an open market transaction. According to bulk deal data available with the BSE, a total of 2,60,00,000 shares of HDFC Life Insurance Company Ltd were sold by its promoter HDFC, the data showed.
08:43 PM

Bulk deals: HDFC Mutual Fund sold shares of SH Kelkar

Here’s who bought and sold what in some of the key bulk deals of the day. Fidelity Investment and HDFC Mutual Fund 34,53,500 and 40,00,000 shares, respectively, of SH Kelkar at Rs 64.15 and Rs 62.03 per share. A chunk of these shares were bought by Kotak Mahindra International. Vasudev Radheshyam Agarwal bought 34,000 shares of Solex Energy at Rs 28.90 per share
08:35 PM

Gujarat HC stays Franklin Templeton's e-vote on winding up of six schemes

The Gujarat High Court on Wednesday stayed Franklin Templeton Mutual Fund's e-vote and unit holders meet for the six wound up schemes. The petitioners have alleged that the winding up of the debt schemes by Franklin Templeton was illegal. The next date in the matter is June 12.
08:04 PM

Opec+ cheats get ultimatum that puts cuts extension in doubt

The leaders of Opec+ gave fellow members an ultimatum: stop cheating on oil-output quotas or the strict measures that have revived oil prices may start to be phased out.
07:28 PM

Reliance completes $7 billion rights as Jio deals spur frenzy

Reliance Industries concluded its $7 billion share sale as part of a fund-raising drive aimed at paying net debt down to zero and backing the oil-to-telecommunications group’s shift toward e-commerce. The world’s biggest rights offering by a non-financial company in at least a decade was oversubscribed at least 1.3 times.
07:18 PM

Saudi, Russia reach deal on oil cuts, raising pressure for compliance

Opec leader Saudi Arabia and non-Opec Russia have agreed a preliminary deal to extend existing record oil output cuts by one month while raising pressure on countries with poor compliance to deepen their cuts, Opec+ sources told Reuters.
07:09 PM

Dow Jones opens higher on recovery optimism

US stocks opened higher on Wednesday as investors remained optimistic about an economic rebound from a coronavirus-led slump amid continuing civil unrest in the country. The Dow Jones Industrial Average rose 164.23 points, or 0.64 per cent, at the open to 25,906.88.
06:24 PM

Midcaps, smallcaps gain for 7th day

Midcap and smallcap indices were on a roll and performed in tandem with their headline peers. Nifty Smallcap index gained 0.28 per cent while Nifty Midcap index climbed 0.39 per cent to log gains for the seventh straight session. The indices closed about a per cent below the day’s highs.
06:22 PM

BSE, NSE ready to access carry out operations from DR site amid cyclone threat

To avoid any service disruption as a result of the cyclonic storm, BSE and National Stock Exchange will carry out operations from disaster recovery (DR) site, if required, the two leading exchanges said on Wednesday. In such a scenario, market participants will be intimated appropriately, the exchanges said in separate circulars.
05:37 PM

Banks see profit booking

Nifty Bank index, which has 12 constituents, fell 700 points from the day’s high but managed to register gains for the seventh consecutive day. The index closed 2 per cent higher at 20,940, driven by over 3 per cent gains in PNB, Kotak Mahindra Bank and Bandhan Bank. Nifty PSU Bank index dropped 3.5 per cent from day’s high to close 5.12 per cent higher while Nifty Private Bank index added 1.86 per cent.
05:14 PM

After 6-day run, Nifty shows signs of fatigue; consolidation likely

"The gap area is posing as a crucial barrier, thus restricting further upside. Structurally, the bounce looks susceptible to profit booking. The hourly momentum indicator is showing a negative divergence, which is a bearish sign. On the downside, the 10,000-9,970 range is an immediate support zone below which a deeper cut can be expected," Ratnaparkhi said.
04:12 PM

Power trade at IEX up 47% in May

Electricity trade at the Indian Energy Exchange grew 47% to 6005 MU in May due to increased consumption from essential services, especially healthcare institutions, and households. The national national peak demand during the month, however, was down by a 9% YoY.
03:54 PM

Short term trend remains positive but buying is advisable only on meaningful dips: Kotak Securities

“In a short span of time the index has rallied from 9000 to 10000-10100 odd levels on the back of broader investor participation. We believe short term trend remains positive but buying is advisable only on meaningful dips. Trend support for the index is seen at 9400 level while comfortable entry point would be at 9600-9700 levels. Banking stocks are expected to remain in action while Pharma stocks may remain under pressure in the near term,” said Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities
03:37 PM

CLOSING BELL: Sensex extends gains to sixth day, up 284 points; Nifty above 10,050; IOB, BOI surge up to 17%

  • Private banks lead market rally
  • 19 of 30 Sensex stocks end the day in the green
  • Index contributors: HDFC Bank, ICICI Bank, Kotak Bank, HDFC, M&M
  • Top Index gainers: M&M (5.51%), Bajaj Fin (3.57%), Kotak Bank (3.15%)
  • Top Index losers: NTPC (1.96%), IndusInd Bank (1.62%), Airtel (1.04%)
  • S&P BSE REALTY biggest sectoral gainer, up 3.07%
  • S&P BSE Telecombiggest sectoral loser, down 0.95%
  • Volume toppers: Bajaj Fin, SBI, ICICI Bank, RIL, IndusInd Bank
CLOSING BELL: Sensex extends gains to sixth day, up 284 points; Nifty above 10,050; IOB, BOI surge up to 17%
03:12 PM

Crude oil prices top $40 for 1st time since March on Opec cuts, demand recovery

Brent crude futures for August were up 59 cents, or 1.5 per cent, at $40.16 by 0840 GMT, reaching a high of $40.53, the highest since March 6. US West Texas Intermediate (WTI) crude for July gained 80 cents, or 2.2 per cent, to $37.61.
Crude oil prices top $40 for 1st time since March on Opec cuts, demand recovery
02:51 PM

All real estate stocks trading in the green; Godrej Prop surges 11%, Oberoi Realty 7%

Price as on 03 Jun, 2020 02:51 PM, Click on company names for their live prices.
02:47 PM

Quicky Bytes: How Britannia managed to shrug off Covid blow and post strong Q4 results

02:44 PM

Rupee settles 11 paise lower at 75.47 against US dollar

02:25 PM

Sensex up over 550 points. This is how the 30-pack index has performed in the last 3 months

Sensex up over 550 points. This is how the 30-pack index has performed in the last 3 months
02:23 PM

Gold’s allure to remain ‘feeble’ in India until September

“June would be a very feeble warm up,” for demand and the big purchases won’t happen before September, Sen said by phone from Kolkata. “We gauge that festival jewelry purchases have been put on hold and any kind of occasion-based purchases are also delayed now.”
Gold’s allure to remain ‘feeble’ in India until September
02:11 PM

Here are the top gainers in tourism and hospitality sector; Chalet Hotels gains 13%, Lemon Tree 5%

Price as on 03 Jun, 2020 02:11 PM, Click on company names for their live prices.
01:59 PM

Forex Center: This is how the major currencies are trading against each other

Forex Center: This is how the major currencies are trading against each other
01:58 PM

APPSIL to acquire up to 1.05 crore shares for Rs 917 crore under open offer

ABB Power Products and Systems India Ltd (APPSIL) will acquire up to 1.05 crore shares for Rs 917 crore under an open offer, according to a regulatory filing. It announced the open offer on March 30 at a price of Rs 851 per equity share, the filing said. But now, the company will pay an interest of Rs 14.92 per share on the offer price since March 30 and buy shares at a price of Rs 865.92 per equity share with face value of Rs 2 each.
01:32 PM

InterGlobe Aviation shares soar nearly 14%

Shares of InterGlobe Aviation rallied nearly 14 per cent on Wednesday amid positive sentiments about the future trajectory of the company. The company on Tuesday reported a net loss of Rs 870.8 crore in the three months ended March, as higher expenses and suspension of flight operations due to coronavirus pandemic took a toll.
01:14 PM

Cyclone Nisarga makes landfall in Mumbai's Alibaug

Cyclone Nisarga makes landfall in Mumbai's Alibaug
12:53 PM

BSE BANKEX GAINS 3%; ALL CONSTITUENTS IN GREEN

BSE BANKEX GAINS 3%; ALL CONSTITUENTS IN GREEN
12:49 PM

BSE Telecom biggest sectoral loser; Bharti Infratel drops 2%

Price as on 03 Jun, 2020 12:49 PM, Click on company names for their live prices.
12:48 PM

India approves Gilead's remdesivir to treat severe COVID-19 cases

India’s government has approved Gilead Sciences Inc’s antiviral drug remdesivir for emergency use for five doses in treating COVID-19 patients.
12:38 PM

BSE Finance jumps nearly 3%, best sectoral gainer; here are the winner and losers from the index

BSE Finance jumps nearly 3%, best sectoral gainer; here are the winner and losers from the index
12:34 PM

Service activity contracts again in May, PMI at 12.6

Business activity across India's service sector continued to contract in May as Covid-19 led shutdowns impaired business operations, restricted consumer footfall and led to a demand collapse along with job cuts. The IHS Markit India Services Business Activity Index was 12.6 in May, up from April's record low of 5.4.
Service activity contracts again in May, PMI at 12.6
12:24 PM

Nokia, Voda Idea complete 1st phase of DSR deployment in India

Telecom gear maker Nokia and Vodafone Idea on Wednesday announced the completion of the first phase of world's largest deployment of Dynamic Spectrum Refarming technology in the country. The Dynamic Spectrum Refarming (DSR) technology, helps in enhancing user experience with optimal use of spectrum assets.
12:02 PM

Top gainers at the end of morning session on NSE

Price as on 03 Jun, 2020 12:02 PM, Click on company names for their live prices.
11:40 AM

Britannia Industries shares jump after Q4 earnings

Price as on 03 Jun, 2020 11:40 AM, Click on company names for their live prices.
11:39 AM

Services activity contracts sharply in May due to COVID-19, firms cut jobs: PMI

Business activity across India's service sector fell drastically during May as the unfavourable economic effects of the coronavirus pandemic impaired business operations, restricted consumer footfall and led demand to collapse, a monthly survey said on Wednesday. The IHS Markit India Services Business Activity Index stood at 12.6 in May.
11:12 AM

DII holdings touch multi-quarter high in Jan-March

The latest institutional holdings data reflect that the impact of the exodus of foreign institutional investors (FIIs) has partially been offset by the sustained flow from the domestic institutional investors (DIIs). DIIs’ holding in Indian equities rose to a record high of 14.8 per cent in the March 2020 quarter, according to Axis Capital.
10:40 AM

Syngene International soars 5% on Covid-19 test kit deal with HiMedia

Shares of Syngene International climbed over 5 per cent in Wednesday's trade after the company announced a deal with HiMedia Laboratories to produce and distribute ELISA test kits for Covid-19. HiMedia will manufacture the kits at its facility in Mumbai and distribute it across India, Syngene International said in a BSE filing. The kit has the capacity to test samples together in a single run and generate results within 3 hours.
10:31 AM

Brent oil rises to $40 amid hopes for output cuts, recovery

Oil rose on Wednesday, with Brent at $40 for the first time since March, as optimism mounted that major producers will extend production cuts and a recovery from the coronavirus pandemic will spur fuel demand.
Brent oil rises to $40 amid hopes for output cuts, recovery
10:18 AM

I-Sec maintains BUY rating on V-Guard with target price of Rs 210

Despite lower sales, the company has closed the year with highest ever annual gross margin, mainly due to a better product mix and supportive input prices. We believe this margin will sustain, going forward, with focus on increasing in-house manufacturing and reduction in margin gap between south and non-south regions (that is ~1.5%). Further, a strong balance sheet condition and prudent working capital management of the company would help V-Guard to tide over the rough phase. We maintain our BUY rating on the stock with a revised target price of Rs 210/share. (Source: ICICI Securities)
10:14 AM

HUL sees revival in demand for hair, skin care products

Hindustan Unilever on Tuesday said there was some revival in demand for discretionary categories such as hair care, skin care and colour cosmetics, but it was unsure by when it would return to normal levels. India’s top consumer goods firm, whose performance is considered a proxy for broader consumer sentiment in India, also said its production had reached about 80-90% of the normal levels with all its factories and warehouses except one in Assam now functioning.
09:55 AM

Hotel & tourism stocks march ahead, cheered by ease in lockdown norms from June 8; Chalet Hotel surges 12%

Price as on 03 Jun, 2020 09:55 AM, Click on company names for their live prices.
09:33 AM

Vodafone Idea, Tata Motors, SBI among most active stocks on NSE

Price as on 03 Jun, 2020 09:33 AM, Click on company names for their live prices.
09:24 AM

Nifty trades above 10,100 for first time since March 13

Nifty trades above 10,100 for first time since March 13
09:21 AM

Bank stocks at the forefront of the rally on Sensex

Bank stocks at the forefront of the rally on Sensex
09:19 AM

OPENING BELL: Sensex surges 500 points, Nifty nears 10,150; Axis, HDFC Bank gain 4% each

OPENING BELL: Sensex surges 500 points, Nifty nears 10,150; Axis, HDFC Bank gain 4% each
09:04 AM

Pre-open session: Sensex climbs 470 points, Nifty tops 10,100

08:03 AM

Tech view: Nifty eyes 10,000

Nifty climbed for the fifth straight session on Tuesday and formed a bullish candle on the daily chart. The 50-pack has been forming higher highs and lows for some time, suggesting that supports have shifted higher. The index needs to take out the 10,000 level soon, else profit booking may set in, analysts said.
08:03 AM

Q4 results today

BPCL, Aurobindo Pharma, MAS Financial Services, Orient Hotels, DCM Shriram, Cholamandalam Investment, Dishman Carbogen Amcis and Vesuvius India are among companies which will announce their March quarter results on Wednesday.
08:03 AM

RIL's rights issue closes today

The Mukesh Ambani-led company's Rs 53,124 crore rights issue will close today. The issue has received total bids received of 54.9 crore shares so far, overshooting the 42.26 crore shares on offer by 29.8 per cent.
08:02 AM

FIIs buy Rs 7,498 cr worth of stocks

Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 7,498.29 crore, data available with NSE suggested. DIIs were net buyers to the tune of Rs 441.05 crore, data suggests. Data showed billionaire banker Uday Kotak on Tuesday sold 2.83 per cent of the promoter group's holding in private sector lender Kotak Mahindra Bank for Rs 6,944 crore.
07:25 AM

SGX Nifty signals positive start

Nifty futures on the Singapore Exchange traded 42 points, or 0.42 per cent higher at 10,080.50 in signs that Dalal Street was headed for a positive start on Wednesday.
07:23 AM

Dollar drops against most Asian currencies

The dollar fell against most Asian currencies as prospects of more government stimulus and a global economic recovery emboldened investors to step up holdings of riskier assets. Australian dollar hit a five-month high, as funds headed toward economies that are seen to be recovering the fastest from the coronavirus pandemic. Australian dollar rose early in Asian trading to $0.6930, the highest since January 7. The New Zealand dollar jumped to $0.6391, the highest since March 9.
07:21 AM

Gold eases as equity rally boosts risk appetite

Gold prices dipped on Wednesday as equity markets rallied on economic optimism and hopes for further stimulus measures boosted risk-on sentiment. Spot gold was down 0.2% at $1,722.93 per ounce, as of 1252 GMT. U.S. gold futures fell 0.3% to $1,729.70.
07:20 AM

Hang Seng, Shanghai Composite rise up to 1.3%

Hong Kong's Hang Seng Index jumped 1.28 percent, or 307.62 points, to 24,303.56. China's benchmark Shanghai Composite Index gained 0.31 percent, or 8.99 points, to 2,930.39, while the Shenzhen Composite Index on the country's second exchange rose 0.30 percent, or 5.45 points, to 1,852.11.
07:19 AM

Japan stocks open on firm note

Tokyo stocks opened higher on Wednesday as investors took heart from a strong showing on Wall Street and a cheaper yen against the dollar. The benchmark Nikkei 225 index was up 1.38 percent or 308.50 points at 22,634.11 in early trade, while the broader Topix index climbed 1.12 percent or 17.74 points to 1,605.42.
07:17 AM

Oil hits 3-month high over hopes for output cuts

Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the coronavirus pandemic. Brent crude was up 22 cents, or 0.6%, at $39.79, by 0003 GMT, the highest since March 6, having gained 3.3% on Tuesday.
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