Sensex Today: Stock Market Highlights Today: Nifty forms bullish candle; enjoy the rally
Sensex Today Live: Domestic stocks recovered on Friday from a selloff in the previous session, as investors judged the recent selling as excessive. US stocks settled lower in overnight trade but investors were unfazed. Earlier today, China’s central bank announced cutting of five-year loan prime rate (LPR) — which many lenders base their mortgage rates — to 4.45 percent from 4.6 per cent. The BSE Sensex was trading 1,002.35 points or 1.90 per cent higher at 53,794.58 at 9.40 am. Nifty50 was trading at 16,131.40, up 322 points or 2.04 per cent. Midcap and smallcap indices rose 1.8 per cent each.
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Wall Street opens higher after two-day selloff
Wall Street’s main indexes opened higher on Friday with banks and megacap growth shares rising on the last day of a week that saw heightened volatility on concerns about the impact of rising inflation and interest rate hikes.The Dow Jones Industrial Average rose 173.81 points, or 0.56%, at the open to 31,426.94.The S&P 500 opened higher by 26.97 points, or 0.69%, at 3,927.76, while the Nasdaq Composite gained 154.18 points, or 1.35%, to 11,542.67 at the opening bell.
Ethos IPO sails through on the last day of bidding
The initial public offer (IPO) of luxury watch retailer Ethos finally managed to get enough applications to sail through on the third and final day of bidding on Friday. The issue opened for subscription on Wednesday. The company is aiming to raise Rs 472.29 crore by selling its shares in the range of Rs 836-878 during the book building process. As per data available on Friday, the issue saw applications for 41,38,650 shares or 1.04 per cent till 5 pm.
JK Tyre & Industries Q4 profit falls 80 pc to Rs 38 cr
JK Tyre NSE -2.01 % & Industries on Friday reported 80 per cent decline in consolidated net profit at Rs 38.22 crore for the fourth quarter ended March 31, 2022, impacted by higher expenses primarily due to rise in input costs. The company had posted a net profit of Rs 194.96 crore for the same period of previous fiscal year, JK Tyre & Industries said in a regulatory filing.
SEBI asks exchanges to conduct cyber audit twice a year (From ET Now)
Karur Vysya Bank Q4 Results
South-based Karur Vysya Bank NSE 1.60 % on Friday reported an over two-fold jump in its net profit to Rs 213.47 crore in the March 2022 quarter on the back of a fall in bad loans. The bank had posted a net profit of Rs 104.37 crore in the same quarter of the previous fiscal. Total income during Q4 FY22 rose 6.3 per cent to Rs 1,614.75 crore from Rs 1,518.39 crore in Q4 FY21, Karur Vysya Bank said in a regulatory filing.
Nifty witnessed a strong recovery as the benchmark index has ended about 3% higher. On the daily chart, the index has formed a double bottom. Immediate resistance is visible at 16400; a decisive breakout above 16400 may induce a rally towards 16600-16700. On the lower end, support is visible at 16000.
– Rupak De, Senior Technical Analyst at LKP Securities
The market displayed a confident yet calm rally throughout the day, supported by fortified global markets, especially the Asian market. The Chinese Central bank cut a key interest rate to support growth, injecting optimism into emerging markets. With concerns over an economic slowdown and rate hikes across the globe, investors will continue to invest with caution. Value stocks should do well during this consolidation period.
– Vinod Nair, Head of Research at Geojit Financial Services
Q4 EARNINGS: NTPC
#EarningsWithETNOW | NTPC Q4: Revenue at Rs 37,085 cr vs Rs 30,102 cr YoY Take a look at the fineprint… https://t.co/q3qe7PDFD3
— ET NOW (@ETNOWlive) 1653042771000
PowerGrid Q4 preview
#EarningsWithETNOW | #PowerGrid is expected to report another steady quarter on back of healthy capitalisation over… https://t.co/r1edUWFXn8
— ET NOW (@ETNOWlive) 1653042573000
At 52-week low
Price as on 20 May, 2022 03:55 PM, Click on company names for their live prices.
Stocks at 52-week highs
Price as on 20 May, 2022 03:54 PM, Click on company names for their live prices.
MARKETS THIS WEEK
#MarketsWithETNOW | #Nifty snaps 5-week losing streak to post best week since 20 Mar, closes back above 16,200… https://t.co/AVJhchn0YL
— ET NOW (@ETNOWlive) 1653041565000
Closing Bell: Nifty tops 16,250
Closing Bell: Bulls return to D-St after 2-day break; Sensex rallies 1,534 pts; RIL zooms 6%
Closing Bell: Bulls return to D-St after 2-day break; Sensex rallies 1,534 pts
HDFC Bank: Total foreign shareholding in the bank at 66.55% as of May 13
Price as on 20 May, 2022 03:12 PM, Click on company names for their live prices.
STOCK WATCH: CONCOR
#StocksToWatch | Concor falls 6% on intraday basis after #capex announcement CMD says co to invest Rs 8,000 cr-1… https://t.co/4CXo1QSzkV
— ET NOW (@ETNOWlive) 1653039144000
Market Today Live: Omaxe up 12%. Check out other gainers in the realty basket
Price as on 20 May, 2022 02:31 PM, Click on company names for their live prices.
Ashok Leyland, Tata Motors among top gainers in auto pack
Price as on 20 May, 2022 01:52 PM, Click on company names for their live prices.
eMudhra IPO subscribed 20% during the first hour of bidding
Market Today Live: eMudhra IPO update
The quota for retail bidders was subscribed 63 per cent, whereas the allocation for non institutional bidders was subscribed only one per cent. The qualified institutional buyers did not participate in the bidding process so far.
Biocon climbs 4% as pharma giant’s arm launches cancer treatment product Abevmy
Bank stocks that are rallying today
Price as on 20 May, 2022 12:25 PM, Click on company names for their live prices.
Market Today Live: Equitas SFB drops 9% as CEO & MD seeks to hang up his boots
Equitas Small Finance Bank shares tumbled about 9 per cent in early trade on Friday as its founder and CEO is seeking to hang up his boots. P N Vasudevan, the founder and CEO of the private lender, has asked it to look for his successor as he wants to pursue ‘a distinct set of goals’ in life.
Godrej Consumer tanks 4% after Q4 earnings miss; analysts cut earnings estimates
Ethos IPO subscribed 48% on Day 3; issue closes today
Rupee rebounds vs dollar as greenback hits 18-month low
The rupee strengthened versus the US dollar in early trade Friday as the greenback retreated sharply from near two-decade highs touched last week amid a slump in US Treasury yields.
Market Today Live: Shares of Biocon jumped 3.6 per cent in early trade Friday after the pharmaceutical player said its arm Biocon Biologics and Viatris Inc have launched a biosimilar product — Abevmy (bBevacizumab) — in Canada for use in treatment of cancer.
Price as on 20 May, 2022 10:59 AM, Click on company names for their live prices.
Yes Bank is trading 5.20 per cent up after it picked JC Flowers Asset Reconstruction Company (ARC) as its joint venture partner to offload nearly ?51,000 crore of distressed loans. This move could improve its valuation and help attract equity investors it badly needs.
Price as on 20 May, 2022 10:38 AM, Click on company names for their live prices.
Equitas Small Finance Bank tumbled about 9 per cent during the early trade on Friday as its founder and CEO is seeking to hand up his boots. At 10.35, it was trading nearly 8% down. P N Vasudevan, the founder and CEO of the private lender, has asked it to look for his successor as he wants to pursue ‘a distinct set of goals’ in life. He is also the Managing Director of Equitas, which began as a micro finance institution in 2007 and was later converted into the bank in 2016.
Price as on 20 May, 2022 10:36 AM, Click on company names for their live prices.
“The excessive volatility in the market is broadly due to two reasons. One, the market has discounted severe monetary tightening by the Fed, which is likely to take the Fed funds rate to around 3 per cent in 2023. Two, the market has not fully discounted the probability of the US economy slipping into recession in 2023. Till there is clarity on the second issue, the ‘risk-off, risk-on mode’ in the market is likely to continue in the near-term.”
– V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Gland Pharma nearly 1% down despite reporting a 10 per cent rise in the net profit to Rs 285.90 crore in the quarter ended March 2022 as against Rs 260.41 crore during the same quarter previous fiscal.
Price as on 20 May, 2022 09:55 AM, Click on company names for their live prices.
Bank Nifty basks in green — all stocks zoom
Price as on 20 May, 2022 09:46 AM, Click on company names for their live prices.
Market Today Live: Godrej Consumer products fell 3.3 per cent to Rs 768.80.Morgan Stanley has maintained ‘underweight’ on Godrej Consumer as Q4 earnings missed consensus estimates on margin front. The performance was weak in international business while the near term weak earnings outlook is the key negatives, it said while suggesting a target of Rs 700 on the stock.
Price as on 20 May, 2022 09:43 AM, Click on company names for their live prices.
One 97 Communications (Paytm) rose 2.57 per cent to Rs 567 ahead of its quarterly earnings.
Price as on 20 May, 2022 09:43 AM, Click on company names for their live prices.
Ashok Leyland jumps 4% despite reporting a 58.14% decline in consolidated net profit at Rs 157.85 crore in the fourth quarter ended March 2022
Price as on 20 May, 2022 09:40 AM, Click on company names for their live prices.
Sensex goes green — a welcome sight after yesterday’s fall
Market Today Live: Fear gauge index India VIX eases 6.6% to 22.9350
All Sensex stocks trading in green. Tata Steel, DRL and SBI among top gainers
OPENING BELL: Sensex climbs 750 points, Nifty50 above 16,050; Tata Steel jumps 3%, Axis Bank 2%
Market Today Live: Pre-open session: Sensex rises 400 points, Nifty50 nears 16,000
Q4 results today
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 211 points, or 1.34 per cent, higher at 15,996, signaling that Dalal Street was headed for a positive start on Friday.
Tech View: Nifty support seen in 15-750-15,650 range
Nifty50 on Thursday saw a gap-down start and saw intensified selling as the session progressed. It ended up forming a small bearish candle on the daily chart. Analysts said the strong support for the index is seen in the 15,750-15,650 range.
Japan inflation hits seven-year high
Japan’s core consumer prices posted their biggest jump in seven years in April, official data showed Friday, as global commodity prices soared and the yen slumped against the dollar. The core consumer price index, which excludes fresh food, jumped 2.1 percent year-on-year, according to figures released by the internal affairs ministry. It was the first time since March 2015 that the figure has breached the 2.0 percent set by the Bank of Japan as its long-term inflation target.
Asian shares trade higher
Asian stocks opened higher on Friday despite falls on Wall Street as bargain-hunting purchases offset some risk-off sentiment among investors. MSCI’s index of Asia-Pacific shares outside Japan was up by 1.32 per cent. Japan’s Nikkei gained 1.01 per cent. Australia’s ASX 200 climbed 1.23 per cent. South Korea’s Kospi jumped 1.52%. China’s Shanghai added 0.98%while Hong Kong’s Hang Seng rallied 2.31%.
US stocks settle lower
Stocks ended another volatile day lower on Wall Street Thursday, bringing the market closer to its first bear market since the beginning of the pandemic. US Stocks settled lower, with Cisco Systems slumping after giving a dismal outlook, while investors fretted about inflation and rising interest rates. Dow Jones dropped 0.75% to 31,253.13. S&P500 declined 0.58% to 3,900.79. Nasdaq fell 0.26% to 11,388.50.
Rupee slumps 10 paise to close at all-time low of 77.72
The rupee extended its losses and slumped 10 paise to close at a record low of 77.72 (provisional) against the US dollar on Thursday, weighed down by a negative trend in domestic equities and unabated foreign fund outflows. At the interbank foreign exchange market, the rupee opened lower at 77.72 against the greenback, and finally settled for the day at 77.72, down 10 paise over its previous close.
Sensex, Nifty on Thursday
Equity investors became poorer by over Rs 6.71 lakh crore on Thursday as domestic benchmark indices tumbled amid a global market meltdown. The 30-share BSE benchmark Sensex tanked 1,416.30 points or 2.61 per cent to settle at 52,792.23, tracking weak global markets and persistent foreign fund outflows. The broader NSE Nifty tanked 430.90 points or 2.65 per cent to 15,809.40.