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Economic Times | 05 Jun, 2020 | 10.49AM IST

Traders' Diary: Nifty has resistance at 10,160-10,290 levels

Financials lead market fall; 16 of 30 Sensex stocks end the day in the red

!1 New UpdateClick here for latest updates
09:55 PM

Cosmo Films Q4 results: Net profit down 24% at Rs 21 crore

Cosmo Films on Thursday reported a 24.37 per cent decline in consolidated net profit at Rs 20.85 crore for the fourth quarter ended March 2020. The company had posted a consolidated net profit of Rs 27.57 crore in January-March quarter a year ago, Cosmo Films said in a BSE filing.
09:36 PM

Nifty outlook weak for the short-term; protect profit

The expiry of weekly options ensured that the session remains a controlled one, and this saved the market from any major correction move on Thursday. The market was already showing signs of exhaustion in the previous session. Nifty opened positive, but soon pared the opening gains to trade in the negative territory for most part of the day. The headline index finally ended the day with a modest loss of 32.45 points, or 0.32 per cent.
09:08 PM

Sebi extends regulatory filing deadline for AIF, VCF in wake of Covid-19

With an aim to reduce the compliance burden on venture capital funds and alternative investment funds, markets regulator Sebi on Thursday extended the due date for regulatory filings till August 7. The move comes in the wake of recent market events due to COVID-19 pandemic, Sebi said in a circular.
08:48 PM

DLF Q4 results: Posts Rs 1,857 crore loss

Realty major DLF on Thursday reported a consolidated net loss of Rs 1,857.76 crore in the fourth quarter of last fiscal year, mainly due to reversal of deferred tax assets (DTA) as it adopted a lower tax rate. It had posted a net profit of Rs 436.56 crore in the year-ago period, the company said in a regulatory filing.
08:20 PM

Rights issue helps RIL relcaim Rs 10 lakh crore m-cap

Reliance Industries on Thursday reclaimed Rs 10 lakh crore market-capitalisation mark after its shares surged over 2.4 per cent on the back of the success of the rights issue. RIL closed at Rs 1,579.95 on the BSE, a gain of Rs 37.50 or 2.43 per cent over the previous day close. This took the m-cap past Rs 10 lakh crore - Rs 10.01 lakh crore to be precise, according to stock exchange data.
07:59 PM

Bulk deals: Capital World Growth & Income Fund buys HDFC Life shares

Here’s who bought and sold what in some of the key bulk deals of the day. Capital World Growth and Income Fund lapped up 11,573,804 shares of HDFC Life Insurance Co at Rs 496.50 a share, while Standard Life offloaded 40,000,000 shares in the company at the same price.
07:40 PM

JM Financial raises Rs 160 crore for distressed opportunities fund

JM Financial Credit Alternatives, the credit alternatives arm of the JM Financial Group, has raised Rs 160 crore from Indian investors for its maiden distressed opportunities fund, the company. The fund, which is aiming to raise as much as Rs 500 crore, made its first close on Thursday.
07:13 PM

Dow Jones opens lower as rally loses steam

US stocks opened lower on Thursday as a rally fueled by hopes of an economic rebound from a coronavirus-led downturn ran out of steam even with weekly jobless claims dipping below 2 million for the first time since mid-March. The Dow Jones Industrial Average fell 43.40 points, or 0.17 per cent, at the open to 26,226.49.
07:01 PM

Bharti Infratel board meeting on June 11 to take final call on Indus merger

“The board of directors in its June 3 meeting, inter-alia, took note of the status of scheme of arrangement between Indus Towers and Bharti Infratel, (and it) has decided to meet on June 11 to take the final decision on the matter, keeping in mind the best interest of the company and its stakeholders,” Bharti Infratel said in an exchange filing Thursday.
06:42 PM

NIIT Q4 results: Net profit drops 97% to Rs 0.6 crore due to Covid-19 hit

NIIT on Thursday said its consolidated net profit dropped 97 per cent to Rs 0.6 crore in March 2020 quarter, impacted by disruption in operations on account of COVID-19 pandemic. The skills and talent development firm had posted a net profit of Rs 23.2 crore in the year-ago period. Revenue declined by 4 per cent to Rs 211.2 crore in the quarter under review from Rs 219.2 crore in the year-ago period.
06:27 PM

Sebi rejigs commodity derivatives advisory committee

Markets regulator Sebi has re-constituted its commodity derivatives advisory committee that examines issues related to contract designs and new products in the segment and advises on matters related to delivery mechanism and warehouses. The 17-member committee would be chaired by retired IAS officer Ashok Dalwani, according to the latest update with the Securities and Exchange Board of India (Sebi).
06:10 PM

Nifty poised for some time correction or price consolidation

Nifty opened on a flat note and moved higher in initial trades on Thursday, but failed to sustain above the 10,100 mark and corrected sharply by around 180 points from its intraday high of 10,123. However, there was a decent recovery in the later half of the session. The index negated the higher highs and lows sequence of last seven sessions and formed a small body candle on the daily chart.
05:53 PM

Fed to stay the course with yield-curve control likely ahead

Federal Reserve officials are unlikely to signal any new moves at their meeting next week, though many economists expect they will turn to yield-curve control later this year, recruiting a tool not used in the US since World War II. Just over half of economists surveyed by Bloomberg said they anticipate the Federal Open Market Committee will eventually set target yields for certain maturities of Treasury securities.
05:41 PM

ECB gives ailing euro zone economy another shot of stimulus

The European Central Bank approved yet more stimulus on Thursday to prop up an economy plunged by the coronavirus pandemic into its biggest recession since World War Two. Just months after a raft of emergency measures, the ECB said it would increase the size of emergency bond purchases by 600 billion euros ($674 billion) to 1.35 trillion euros and that the purchases would run until the end of June 2021, six month longer than originally planned.
05:31 PM

Believe it or not, Europe is finally outperforming Wall Street

In a switch from the longer-term trend, European equities are beating their US peers in the latest leg of the rebound. Boosted by a strong outperformance of cyclical shares on bets of a swift economic recovery and after a string of stimulus plans, the Stoxx Europe 600 Index has rallied 12 per cent since mid-May, versus 9 per cent for the S&P 500 Index.
05:16 PM

Indecisive Nifty bulls give bears a chance to stage a comeback

“In case the bears fail to push the index decisively below the psychological support at 10,000 level on a closing basis, it may turn rangebound. However, a close below 10,000 level shall strengthen bearish sentiment and initially drag Nifty towards the 9,700 level,” said Mazhar Mohammad, Chief Strategist at
04:17 PM

Nifty may see further consolidation ahead

"This pause is largely on the expected lines and we may see further consolidation ahead. However, we feel Nifty could make another attempt to test 10,250 levels so traders should utilise further dips around the 9900 zone to create fresh longs. On the sectoral front, we prefer pharma, IT at current levels and select private banking names on dips," says Ajit Mishra, VP - Research, Religare Broking.
03:39 PM

CLOSING BELL: Sensex snaps 6-day winning streak, drops 129 pts; Nifty below 10,050; Kotak Bank, HDFC fall 4% each

  • Financials lead market fall
  • 16 of 30 Sensex stocks end the day in the red
  • Index contributors: HDFC, HDFC Bank, Kotak Bank, ICICI Bank, L&T
  • Top Index gainers: Bharti Airtel (5.62%), Tech Mahindra(5.32%), Sun Pharma(4.40%)
  • Top Index losers: Asian Paints(4.54%), Bajaj Fin (4.10%), HDFC (4.10%)
  • S&P BSE Telecombiggest sectoral gainer, up 3.47%
  • S&P BSE BANKEX biggest sectoral loser, down 2.70%
  • Volume toppers: Bajaj Fin, RIL, HDFC Bank, SBI, ICICI Bank
CLOSING BELL: Sensex snaps 6-day winning streak, drops 129 pts; Nifty below 10,050; Kotak Bank, HDFC fall 4% each
03:33 PM

Sources say that Amazon is in talks with Airtel to buy stake worth at least $2 bn

03:14 PM

India Inc's earnings scorecard shows worst profit slump since 2014

The world’s biggest lockdown has cost India millions of jobs, resulted in record low economic activity, and fueled the biggest earnings decline in at least six years.

Profits at NSE Nifty 50 Index members fell about 15% last quarter from the same period last year, the worst drop since at least 2014, according to Bloomberg-compiled data. About two thirds of the firms in index have announced results for the March quarter so far. Communications, energy and industrials recorded the steepest declines on an adjusted basis.
India Inc's earnings scorecard shows worst profit slump since 2014
03:02 PM

Most cement stocks trading in the red; UltraTech Cement, JK Cement down 2% each

Price as on 04 Jun, 2020 03:02 PM, Click on company names for their live prices.
02:29 PM

What went wrong with Bank Nifty options? Nikhil Kamath explains

Most of the options seem fine, be it Nifty or stock futures. The issue is only with Bank Nifty, wherein the prices are not seeming right. The good thing is the exchange has set execution ranges. So if you were to place an order far away from what the price should be, it will get rejected anyways. We still do not have clarity why this is happening. As I speak, it seems to have gotten resolved and prices are coming back to where they should be.
02:02 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
01:19 PM

Tata Consumer expects COVID-19 impact on profitability; hit by commodity price, supply constraints

Tata Consumer Products expects its profitability to be impacted in the short term due to the coronavirus outbreak as input costs have risen on account of commodity price volatility and supply constraints during the pandemic and subsequent lockdown. However, the company said it was difficult to access the quantum at this stage.
12:51 PM

Here are the top losers in the FMCG space

Price as on 04 Jun, 2020 12:51 PM, Click on company names for their live prices.
12:37 PM

Here are the top gainers and losers in the hospitality and tourism sector

Price as on 04 Jun, 2020 12:37 PM, Click on company names for their live prices.
12:23 PM

CVC Capital to buy cancer chain HCG for Rs 1,049 crore

US based private equity fund CVC Capital, which had announced the buyout of cancer care chain Healthcare Global Enterprises last month, has made a revised offer of Rs 130/share for buying out the promoter stake and an open offer. On May 7, CVC Capital had announced its plan to acquire about 36.48% stake in Healthcare Global Enterprises through a preferential allotment of shares at a price of Rs.100/ share. The new offer is a premium of 33% to the six month average share price of Rs 97.57.
12:14 PM

Here's how BSE Sensex traded in the first half of the trading session

Here's how BSE Sensex traded in the first half of the trading session
11:59 AM

Telecom stocks mixed; Voda Idea, Airtel gain up to 2%

Price as on 04 Jun, 2020 11:59 AM, Click on company names for their live prices.
11:47 AM

India could've faced unmitigated disaster had govt not taken timely action on COVID-19: Adani

11:38 AM

Auro Pharma gains on strong Q4 numbers

Price as on 04 Jun, 2020 11:38 AM, Click on company names for their live prices.
11:06 AM

BSE Healthcare rises nearly 2%, best sectoral gainer

BSE Healthcare rises nearly 2%, best sectoral gainer
10:49 AM

Rupee slips 15 paise to 75.62 against US dollar in early trade

The rupee depreciated 15 paise to 75.62 against the US dollar in opening trade on Thursday as strengthening US dollar and US-China trade tensions weighed on investor sentiments. Forex traders said sustained foreign fund flows and the revival of business activities supported the local unit, but concerns about US-China trade tiff dragged the local unit down. The rupee opened weak at 75.62 at the interbank forex market, down 15 paise over its last close.
10:39 AM

HDFC Life jumps 4% on high volumes; all eyes Standard Life's block deal

Shares of HDFC Life Insurance Company jumped over 4 per cent in Thursday’s trade amid high volumes despite reports that UK-based Standard Life Insurance was looking to reduce its stake in the insurance firm to 10.27 per cent from 12.25 per cent, via block deals on the stock exchanges. A block deal was scheduled for Thursday, in which Standard Life was expected to sell 4 crore shares in the life insurance arm of HDFC.
10:18 AM

Top Sensex contributors in today's session

Top Sensex contributors in today's session
09:58 AM

India to let farmers sell produce directly to traders, retailers

India is to allow farmers to sell produce directly to bulk buyers such as trading companies, food processors and large retailers, the farm minister said on Wednesday. This would obviate the need for farmers to bring their produce to India’s more than 7,000 regulated wholesale markets and let buyers buy from the fields, Narendra Singh Tomar told reporters after a cabinet meeting chaired by Prime Minister Narendra Modi.
09:22 AM

Voda Idea, Trident, SBI among most active stocks on NSE

Price as on 04 Jun, 2020 09:22 AM, Click on company names for their live prices.
09:20 AM

OPENING BELL: Sensex gains 126 points, Nifty nears 10,100; IDBI Bank jumps 9%, IFCI 8%

OPENING BELL: Sensex gains 126 points, Nifty nears 10,100; IDBI Bank jumps 9%, IFCI 8%
09:05 AM

Pre-open session: Sensex nosedives 1,249 points, recovers later; Nifty below 10,050

07:41 AM

Oil prices fall on concerns supply to rise as producers wrangle on cuts

Oil prices fell on Thursday, reversing gains in the previous session, on concerns that supply will rise if major producers are unable to agree to extend the depth of output cuts that have supported recent gains. Brent crude futures fell 1%, or 41 cents, to $39.38 a barrel. US West Texas Intermediate (WTI) crude futures fell 1.6 per cent, or 61 cents, to $36.68 a barrel.
07:40 AM

Saudi, Russia reach deal on oil cuts

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. Opec+ agreed to cut output by a record 9.7 million barrels per day, or about 10 per cent of global output, in May and June to lift prices battered by plunging demand linked to lockdown measures aimed at stopping the spread of the coronavirus.
07:26 AM

SGX Nifty signals muted start

Nifty futures on the Singapore Exchange traded 18.50 points, or 0.18 per cent lower at 10,149.50 in signs that Dalal Street was headed for a muted start on Thursday.
07:26 AM

Tech view: Nifty shows fatigue

Signs of fatigue were all over, as the index came off from the day's high of 10,176 level and ended up forming a small bearish candle on the daily chart -- the first time in six sessions. The index is trading above all of short-term moving averages and is nearing the overbought zone as suggested by the 14-day RSI of 67. Analysts said a profit-booking move looks due.
07:26 AM

Asian shares extend rally

Stronger appetite for riskier assets lifted Asian equities on Thursday. Hong Kong's Hang Seng index rose 1.31 per cent, or 318.22 points, to 24,643.84. China's benchmark Shanghai Composite index added 0.29 per cent, or 8.53 points, to 2,931.90. Japan's Nikkei 225 index was up 1.29 per cent, or 290.66 points, at 22,904.42 in early trade.
07:25 AM

Q4 results today

DLF, NIIT and SRF: DLF, NIIT, PI industries, IL&FS Transport, SRF, Safari Industries, PNB Gilts, Igarashi Motors and TD Power are among a few companies which will announce their march quarter earnings today.
07:25 AM

US indices settled higher

US stocks finished noticeably higher on Wednesday as investors pored through a slew of economic data. The Dow Jones Industrial Average index jumped 527.24 points, or 2.05 per cent, to 26,269.89. The S&P500 index rose 42.05 points, or 1.36 per cent, to 3,122.87. The Nasdaq Composite index added 74.54 points, or 0.78 per cent, to 9,682.91.
07:23 AM

Sensex, Nifty on Wednesday

The Nifty50 on Wednesday ended at 10,061.55, higher by 82.45 points or 0.83 per cent from the previous close of 9,979.10. The Sensex closed at 34,109.54, higher by 284.01 points or 0.84 per cent from the previous close of 33,825.53. It had opened at 34,185.41 and touched an intra-day high of 34,488.69 and a low of 34,027.50 points.
07:22 AM

Good morning, dear reader! Here's something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day
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