Share Market Update: Sensex ends 86 points up, Nifty at 11,870; Bharti Infratel, Vedanta, BPCL top performers

Share Market Update: Sensex ends 86 points up, Nifty at 11,870; Bharti Infratel, Vedanta, BPCL top performers

Share Market Update: Domestic equity benchmark indices Sensex and Nifty closed with minor gains Friday, after a range-bound trade that continued since the opening bell.

After snapping two days losing streak, Sensex ended marginally higher in today’s volatile session, up by 86 points at, with 11 out of 30 components that traded on the positive, while the broader Nifty closed at 11,870, up by 26 points against previous close, with 20 out of 50 stocks trading in the green.

Sector wise, Nifty indices like Financial Services, Bank, IT, Service sector and Pvt Bank were the top gaining sectors, while worst fall was seen in Pharma, Realty and Auto.

The equity market indices opened lower on back of weak global cues and continued to trade negative with profit booking across sectors and stocks after logging worst single-day loss in 2019 yesterday. On Thursday, both benchmark indices posted their biggest one-day drop this year after the RBI delivered a rate cut on expected lines but failed to allay investor concerns regarding the non-banking financial company (NBFC) sector.

Here’s a look at live updates for the Indian share market today:

Closing Bell

3: 45 pm

After snapping two days losing streak, Sensex closed 86 points up whereas Nifty closed 26 points in the green.

Global Update

3 : 22 pm

US stocks gained over half a percent or 0.7% amid the trade tensions and mixed economic data, backed up on hopes of an interest rate cut from the Federal Reserve. Earlier in the day, Trump said he would decide on whether to levy more tariffs on China “probably right after the G20,” which is being held on June 28-29. That came after his overnight threat to put tariffs on “at least” another $300 billion worth of Chinese goods.

Forecasts are for U.S. jobs to rise in May, though doubts have grown after poor numbers on private hiring released earlier in the week. The closely watched monthly U.S. jobs report is to be released today.

European shares echoed an upbeat day in Asia, where indexes in Japan, Australia and South Korea all gained. Chinese and Hong Kong markets were closed for a public holiday. UK’s PM Theresa May is to resign today.

Brent Crude

3: 10 pm

Oil prices jumped more than 2% on Friday, climbing further from five-month lows hit this week amid signs that OPEC and other producers may extend their output reduction deal, thus their supply cuts. Brent crude futures were up $1.35 at $63.02 a barrel by 0757 GMT. U.S. West Texas Intermediate (WTI) crude futures were up $1.10 at $53.69 per barrel. They gained 1.7% on Thursday.

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HDFC Bank appoints MSKA & Associates  as auditors for 4 years, after RBI bans S.R. Batliboi  &  Co, HDFC’s previously chosen auditor

2: 35 pm

RBI on June 3, S.R.B, the Statutory Auditor of the HDFC Bank, had decided not to approve S.R.B for carrying out statutory audit  assignments in commercial banks for one year starting from April 1, 2019, on account of lapses identified in a statutory audit assignment carried out by S.R.B.

Following this, the bank has informed the bourses that they have appointed MSKA & Associates as the Statutory Auditors of the Bank for a period of 4 years with effect from FY  2019-20, subject to the approval of the RBI and the shareholders at the ensuing  AGM of the bank.

Mahindra Logistics’s Fund managers increase stake in company

2: 15 pm

Colonial First State Asset Management (Australia) & First State Investments (Singapore), Fund Managers of  Mahindra Logistics, have increased their stake as they bought 1.53% stake. After the acquisition, the total stake now stands at 5.99%.

Reliance Infra down 12%, RPower down 8%, prior earnings announcement

1: 55 pm

Shares of Reliance Infrastructure is down by 12% and Reliance Power as well, at 8%, before their quaterly earnings figures, scheduled to be posted today, as per BSE. Additionally, the share price of Reliance Infrastructure, that is currently trading at Rs 74.80, has hit a new all time low of Rs 72.80.

Crude extends gains, Brent approaches $63/bbl

1: 30 pm

Brent crude is trading at 62.68, up 1.64% or 1.01 from last close.

Market Update

1: 15 pm

Market failing to hold on to recovery, as Nifty is trading around 11,850 and Sensex around 39,500 level. Sector wise, Nifty indices like Financial Services, Bank, IT, Service sector and Pvt Bank are the gaining sectors, while worst fall is seen in Pharma, 1% down, followed by losses in Realty and Auto.

Eros international falls 19% intraday, hits fresh all-time low of Rs 42.50

1: 05 pm

Eros International Media share price extended losses for the third consecutive day to hit its fresh all-time low in trade today.  Rating company CARE cut Eros International’s long-term bank facilities rating to default from BBB- on delay in debt servicing after which share price tanked 20% to 53.10 level in trade yesterday. Eros International Media share price fell to an intra day and all time low of 42.50 compared to its previous close of 53.10 on BSE.

Read more: Eros International share price extends losses post downgrade by CARE Ratings, hits fresh all-time low

Market Update

12: 50 pm

Nifty is trading up by 12 points and Sensex is up by 20 points. Market has fallen 0.03% while volumes have increased by 8.08%. Overall, 1269 Stocks have declined against 1097 advanced stocks. However, with more declining stocks, the overall market cap of the entire market has increased.

Nifty has been losing for the last 3 days and has fallen 2.10% in the period. Nifty traded higher than 20 day, 50 day, 100 day, 200 day but lower than 5 day moving averages.

On the sectoral front, Financial services, Bank and Realty were among the top gaining indices, followed by IT and Metal. Pharma was the major falling sector for the day, followed by Media, FMCG and Auto stocks.

52 -week low/high stocks today

12: 35 pm

Companies that hit 52- week low today were Cadila Healthcare at Rs 241, Glenmark Pharma at Rs 518.75, Lupin at Rs 714, Hindustan Zinc at Rs 241.70, Oracle Financial Services at Rs 3,290 and New india Assurance at Rs 160.05 on BSE. Today’s only stock to hit 52-week high is Astral Poly Technik at Rs 1,349.

Wipro’s founder Azim Premji to retire, after having led the company for 53 years

12: 15 pm

Company appointed Azim Premji as Non-Executive Director for 5 years and re-appointed Rishad Premji as Whole-Time Director. Azim Premji to retire from his current position as Executive Chairman & MD. Wipro Ltd was trading 0.67% higher at Rs 293.5.