Share Market LIVE: Sensex up 250 points, Nifty above 9,350; ONGC, M&M, BPCL, Vedanta top performers

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Sensex, Nifty Live News Today: Bharti Infratel, ONGC, M&M, BPCL and Zee Entertainment were the top gainers on Nifty, while Asian Paints, Bajaj Finance, Britannia, Dr Reddy and Cipla were among the losers on Nifty.

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Sensex, Nifty Updates: Market indices Sensex and Nifty traded on a bullish note on Tuesday’s afternoon session, in line with ovreseas trend. Sensex was 280 points higher at 31,999 and Nifty climbed 80 points to 9,374. Investors are trading cautiously ahead of March quarterly earnings. Adani Ports, Astec Lifesciences, Rallis India, NIIT Technologies, Tata Coffee, SBI Life will be reporting their Q4 figures today.

Experts said market sentiments turned cautious amid mixed signals on growth and hopes on a possible vaccine, improve on policy support, corporate earning performances this week and a fresh threat of US-China tariff escalation on the virus backdrop. US stocks closed higher yesterday, boosted by oil rally and technology sector, while Asian stocks rose as a number of economies move toward easing lockdowns. Meanwhile, European indices also rose higher at open and turned green, tracking bullish trend from overseas.

Here’s a look at the updates of the market action on BSE and NSE today

1.49 PM: Adani Ports share price erases gains ahead of results

Adani Ports share price erased early gains and traded lower ahead of its March earning figures today. The stock earlier opened with a gain of 2.06% and climbed 2.12% to the intraday high of Rs 272.15.

Although later the stock fell 2.05% to an intraday low of Rs 261.05 on BSE.

1.37 PM: Tata Coffee share price up 5% ahead of results

Tata Coffee share price rose 5.55% to the intraday high of Rs 79.9 on BSE ahead of reporting March earning figures today.

1.31 PM: Shriram Transport Finance share price gains 5.44%

Shriram Transport Finance shares opened with a gain of 3.88% today and later touched an intraday high of Rs 786.35, rising 5.44%on BSE.

Company announced that India Ratings and Research (Ind-Ra) has placed it’s long-term issuer rating of ‘IND AA+’ on Rating Watch Negative (RWN), with Stable outlook. The short-term rating has been affirmed at ‘IND A1+’, the filing added.

1.22 PM: Ashok Leyland share price falls 3%

Ashok Leyland share price that rose 3.04% to the day’s high of Rs 50.85 fell later 2.94% to the intraday low of Rs 47.9 on BSE.

This was on back of company announcing that it has reported zero sales for the month of April 2020.

The company said it suspended its production across all its factory locations since March 24,2020 and all the manufacturing activities and its dealerships across India, remained affected and recorded nil production and sales, for the month of April 2020.

Ashok Leyland share price trades higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.

1.13 PM: Phillips CarbonBlack share price falls after rating

Phillips CarbonBlack share price opened with a gain of 2.3% today and later touched an intraday high of Rs 78 on BSE.

Rating firm ICRA, reaffirmed the long-term rating for the Line of Credit (LOC) of Rs 400 crore from various banks and unavailed facility at [ICRA] AA- (pronounced ICRA double A minus). As per the filing, the outlook on the long-term rating is revised from [ositive to stable.

Later the shares fell and traded 0.33% lower at Rs 76 on BSE.

1.06 PM: Bharti Infratel share price rises 8%

Bharti Infratel share price earlier opened lower and fell 2.31% to the intraday low of Rs 164.9. Later the shares reversed trend and rose 7.88% to an intraday high of Rs 182.10 on BSE.

The stock trades higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.

1.00 PM: Market cues overseas

European indices rose higher at open and turned green, tracking bullish trend from overseas. Where FTSE and DAx gained 1.6% each, CAC was up 2%.

Most Asian indices turned marginally green, barring Nikkei and Kospi, as investors turned optimistic over Wall Street’s closing in the green. US stocks closed higher yesterday, boosted by oil rally and technology sector, while Asian stocks rose as a number of economies move toward easing lockdowns. US Futures (Dow Jones) also traded higher at 23745, up 174 points or 0.74%.

12. 54 PM: Market erases gains

Market indices Sensex and Nifty erased morning gains by Tuesday’s afternoon session, in line with trend in SGX Nifty. Sensex traded 118 points higher at 31,834 and Nifty climbed 23 points higher to 9,315. Investors are trading cautiously ahead of March quarterly earnings. Adani Ports, Astec Lifesciences, Rallis India, NIIT Technologies, Tata Coffee, SBI Life will be reporting their Q4 figures today.

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Sensex, Nifty Updates: Market indices Sensex and Nifty traded on a bullish note on Tuesday’s afternoon session, in line with ovreseas trend. Sensex was 280 points higher at 31,999 and Nifty climbed 80 points to 9,374. Investors are trading cautiously ahead of March quarterly earnings. Adani Ports, Astec Lifesciences, Rallis India, NIIT Technologies, Tata Coffee, SBI Life will be reporting their Q4 figures today.

Experts said market sentiments turned cautious amid mixed signals on growth and hopes on a possible vaccine, improve on policy support, corporate earning performances this week and a fresh threat of US-China tariff escalation on the virus backdrop. US stocks closed higher yesterday, boosted by oil rally and technology sector, while Asian stocks rose as a number of economies move toward easing lockdowns. Meanwhile, European indices also rose higher at open and turned green, tracking bullish trend from overseas.

Here’s a look at the updates of the market action on BSE and NSE today

1.49 PM: Adani Ports share price erases gains ahead of results

Adani Ports share price erased early gains and traded lower ahead of its March earning figures today. The stock earlier opened with a gain of 2.06% and climbed 2.12% to the intraday high of Rs 272.15.

Although later the stock fell 2.05% to an intraday low of Rs 261.05 on BSE.

1.37 PM: Tata Coffee share price up 5% ahead of results

Tata Coffee share price rose 5.55% to the intraday high of Rs 79.9 on BSE ahead of reporting March earning figures today.

1.31 PM: Shriram Transport Finance share price gains 5.44%

Shriram Transport Finance shares opened with a gain of 3.88% today and later touched an intraday high of Rs 786.35, rising 5.44%on BSE.

Company announced that India Ratings and Research (Ind-Ra) has placed it’s long-term issuer rating of ‘IND AA+’ on Rating Watch Negative (RWN), with Stable outlook. The short-term rating has been affirmed at ‘IND A1+’, the filing added.

1.22 PM: Ashok Leyland share price falls 3%

Ashok Leyland share price that rose 3.04% to the day’s high of Rs 50.85 fell later 2.94% to the intraday low of Rs 47.9 on BSE.

This was on back of company announcing that it has reported zero sales for the month of April 2020.

The company said it suspended its production across all its factory locations since March 24,2020 and all the manufacturing activities and its dealerships across India, remained affected and recorded nil production and sales, for the month of April 2020.

Ashok Leyland share price trades higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.

1.13 PM: Phillips CarbonBlack share price falls after rating

Phillips CarbonBlack share price opened with a gain of 2.3% today and later touched an intraday high of Rs 78 on BSE.

Rating firm ICRA, reaffirmed the long-term rating for the Line of Credit (LOC) of Rs 400 crore from various banks and unavailed facility at [ICRA] AA- (pronounced ICRA double A minus). As per the filing, the outlook on the long-term rating is revised from [ositive to stable.

Later the shares fell and traded 0.33% lower at Rs 76 on BSE.

1.06 PM: Bharti Infratel share price rises 8%

Bharti Infratel share price earlier opened lower and fell 2.31% to the intraday low of Rs 164.9. Later the shares reversed trend and rose 7.88% to an intraday high of Rs 182.10 on BSE.

The stock trades higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.

1.00 PM: Market cues overseas

European indices rose higher at open and turned green, tracking bullish trend from overseas. Where FTSE and DAx gained 1.6% each, CAC was up 2%.

Most Asian indices turned marginally green, barring Nikkei and Kospi, as investors turned optimistic over Wall Street’s closing in the green. US stocks closed higher yesterday, boosted by oil rally and technology sector, while Asian stocks rose as a number of economies move toward easing lockdowns. US Futures (Dow Jones) also traded higher at 23745, up 174 points or 0.74%.

12. 54 PM: Market erases gains

Market indices Sensex and Nifty erased morning gains by Tuesday’s afternoon session, in line with trend in SGX Nifty. Sensex traded 118 points higher at 31,834 and Nifty climbed 23 points higher to 9,315. Investors are trading cautiously ahead of March quarterly earnings. Adani Ports, Astec Lifesciences, Rallis India, NIIT Technologies, Tata Coffee, SBI Life will be reporting their Q4 figures today.

Experts said market sentiments turned cautious amid mixed signals on growth and hopes on a possible vaccine, improve on policy support, corporate earning performances this week and a fresh threat of US-China tariff escalation on the virus backdrop.

12.42 PM: Earnings scheduled tomorrow

YES Bank, Adani Enterprises, JM Financial, Kansai Nerolac Paints, TCI Developers, DG Content will be reporting their quarterly results tomorrow.

Kansai Nerolac Paints was rising 2.68%, followed by 1.79% rise in Adani Enterprises.

JM Financial fell 2.48%, while YES Bank was falling 1.29% in today’s trade.

12.33 PM: Bharat Forge share price climbs 4%

Bharat Forge share price opened with a gain of 2.06% today and later climbed 3.59% to an intraday high of Rs 279.55 on BSE after the company said it has commenced operations in a graded manner with Baramati facility reopening today. The filing added that the company expects production to commence by end of the week.

12. 27 AM: Jindal Steel Plant share price climbs 4%

JSPL share price opened with a gain of 3.57% today and later touched an intraday high of Rs 88.95, rising 4.1% on BSE. The compay reported 5% growth YoY in the production of steel & granulated pig iron to 5.5 lakh tonnes during April 2020 in India.

JSPL Group has recorded 6.55 lakh tonnes of consolidated steel production in April month, the filing added further. The stock trades higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.

12.16 PM: Varun Beverages share price erases gains post Q4

Varun Beverages share price, that was trading 4.95% higher ahead of results today, erased gains and turned flat with negative bias, post the submission of earning figures.

The company reported 50% rise (YoY) in consolidated net profit to Rs 60 crore during the quarter ended March 31, 2020 as against Rs 40 crore, recorded in a year-ago period. Total income rose 23.1%(YoY) to Rs 1,699 crore in the January-March quarter of the current fiscal as compared to Rs 1,381 crore in the same period last financial year.

11.59 AM: AU Small Finance Bank share price down 5%

AU Small Finance Bank share price slipped 4.99% to the day’s low of Rs 490.75 after Nomura downgraded the stock. The stock opened at 490.75 and has since traded at this price, It has fallen 9.7% in the last 2 days.

11. 48 AM: Nifty’s technical outlook

Nifty’s technical outlook as per the Technical & Derivatives Report by Sameet Chavan-Chief Analyst-Technical and Derivatives, Angel Broking

– In case of further escalation, we may see Nifty correcting towards 9100 – 9000

– On the flipside, 9390 followed by 9450 would be seen as immediate hurdles

– Nifty could manage to find support in the zone of 9250-9200 levels.

11. 43 AM: Aviation stocks under pressure

Aviation stocks were under pressure on Tuesday trade after the fall of airline in stocks in US, with Warren Buffett’s announcement that Berkshire Hathaway Inc would completely exit stakes from four major US airlines also kept sentiments negative.

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