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Stock Market Highlights: Sensex, Nifty end with lacklustre gains; Bajaj twins drag, ITC top gainer

Stock Market Highlights: Sensex, Nifty end with lacklustre gains; Bajaj twins drag, ITC top gainer

Stock Market Highlights: Sensex, Nifty end with lacklustre gains; Bajaj twins drag, ITC top gainer
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Summary

Stock Market Highlights: Indian equity indices ended with gains for the third straight day led by ITC and auto stocks. The market erased morning gains after the losses in Bajaj twins as Bajaj Finserv reported a weak Q4FY20 earnings.

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Here are the key highlights from today's trading session:

1. Market slips from highs to close with minor gains; financials underperform

2. Nifty holds 9,100 but slips 72 points from highs and Sensex 256 points off highs

3. Sensex ends 114 points higher at 30,933 and Nifty 40 points higher at 9,106

4. Midcap closes 98 points higher at 12,763 and Nifty Bank 105 points lower at 17,735

5. Auto and FMCG top gaining indices; volatility index slips 8%

6. Market Breadth in favour of advances; advance-decline ratio at 3:2

7. HDFC, L&T, HUL and Bajaj Finance drag Nifty while ITC,TCS, Asian Paints and RIL support

8. Bajaj Finserv and Bajaj Finance top Nifty losers; Bajaj Finserv slips 4% after Q4FY20

9. Bajaj Auto advances 3% after reporting earnings higher than estimates

10. ITC top Nifty gainer, records the biggest one-day gain in nearly 2 months

11. IndiGo closes 7% higher but off highs after government caps airline fares

12. CONCOR up over 2% as talks resumed with Railway Minsitry on stategic sale

May 21, 2020 3:48 PM

Closing Bell: Indian market ends higher for 3rd straight day; ITC contributes most gains

Indian equity indices on Thursday ended with gains led by ITC and auto stocks. The Sensex closed 114 points or 0.37 percent higher to 30,933 while the Nifty50 index ended at 9,106, up 40 points. ITC, Hindalco, Asian Paints, Hero MotoCorp and Maruti Suzuki were the Nifty50 top gainers while Bajaj Finserv, Bajaj Finance, NTPC, IndusInd Bank and Adani Ports remained the index losers. Among sectoral indices, Nifty Bank lost the most, ending 0.6 percent lower while Nifty Auto and Nifty FMCG ended with 2 percent gains each. 

May 21, 2020 3:42 PM

Multiplex stocks continue to edge higher as states ease lockdown; PVR, Inox rally for 3rd day

After states like Kerala, West Bengal, and Karnataka announced some relaxations in lockdown restrictions, the entertainment industry is somewhat hopeful of opening up multiplexes. The positive expectation has sent both multiplex competitors- PVR and Inox Leisure on a recovery run.

Furthermore, the Multiplex Association of India has also submitted a full-proof plan for cinemas to the Information & Broadcasting Ministry and various state governments, said film trade analyst and critic Taran Adarsh, in a tweet, on Wednesday.

Both the stocks have been surging from the past three trading sessions, over 20 percent. PVR jumped 23 percent while Inox Leisure surged 13 percent for the third straight day. Read more

May 21, 2020 3:29 PM
May 21, 2020 3:15 PM

Bajaj Finserv's Q4 net profit plunges 77% due to rise in lending assets impairment; stock down 3%

Bajaj ​Finserv's shares slipped over 2 percent to Rs 4,593 on the NSE after it posted weak March quarter results. The company reported a 77 percent year-on-year (YoY) decline in consolidated net profit to Rs 194 crore as compared to Rs 839 crore in the corresponding quarter last year.

Net profit of Bajaj Finserv dropped after it's lending assets impairment climbed to Rs 1,950 crore from Rs 410 crore last year.

However, the top-line rose 3 percent YoY to Rs 13,294 crore in the quarter ended March 2020. Last year, it came in at Rs 12,994 crore. Click here to read more

May 21, 2020 3:03 PM

Stocks Update: GSK Pharma discontinued the manufacture and supply of Zinetac tablets (150 mg and 300 mg products) manufactured in India and will in due
course request cancellation of the marketing authorization(s) associated with Zinetac Tablets (150mg / 300mg). In the coming months, the company will work closely with the regulatory authorities.

May 21, 2020 2:45 PM
Jubilant FoodWorks rallies 6% as brokerages hope for strong recovery post Q4 earnings
Shares of Jubilant FoodWorks, that owns the master franchise for Domino's Pizza in India, surged almost 6 percent in the early trade on Thursday. Get latest Market online at cnbctv18.com
Stock Market Highlights: Sensex, Nifty end with lacklustre gains; Bajaj twins drag, ITC top gainer
May 21, 2020 2:29 PM

Rupee Update: The Indian currency ended with gains on Thursday tracking the positive cues of Indian equity markets. The Indian rupee ended at 75.61 against the dollar as compared to Wednesday's close of 75.80. Amidst emerging market peers, rupee remained the best performer. 

May 21, 2020 2:15 PM

Buzzing Stock: Shares of JSW Energy climbed over 3 percent, a day after the company reported a 28-fold jump in its consolidated net profit to Rs 108.44 crore in the fourth quarter ended March. Total income stood Rs 1,847.65 crore in the quarter as compared to Rs 2,018.16 crore a year ago.

May 21, 2020 2:08 PM
May 21, 2020 1:54 PM
Bank credit growth decelerates for fourth consecutive quarter in December 2019
Bank credit growth slowed down for the fourth consecutive quarter in December 2019 as industrial credit growth moved into the negative territory for the first time since September 2017, the latest…
Stock Market Highlights: Sensex, Nifty end with lacklustre gains; Bajaj twins drag, ITC top gainer
May 21, 2020 1:47 PM

Aviation ministry caps airfares, one-third flights to be permitted on May 25

The Civil Aviation Ministry has capped airfares in order to prevent any massive jump or drop in airfares as flights resume amid COVID-19 after a ban spanning two months.

"Airlines should adhere to the lower and upper limits offers prescribed by the Ministry during the period of COVID- 19 pandemic," the civil aviation ministry said in its order dated May 21. Continue reading 

May 21, 2020 1:25 PM

European markets open lower ahead of euro zone data

European stocks opened lower on Thursday, ahead of flash purchasing manager’s index (PMI) data for the euro zone, which will give an indication of activity in the region’s manufacturing and services industry in May.

The pan-European Stoxx 600 fell 0.9 percent at the start of trading, with autos shedding 1.7 percent  to lead losses as all sectors and major bourses slid into negative territory.

DAX and CAC traded over one percent lower each to 11,096 and 4,441 respectively. FTSE fell 0.72 percent to trade at 6,023. 

Aside from the PMI numbers from the euro zone, investors will also be following the latest coronavirus news. The World Health Organization said the number of newly-reported cases globally hit a daily record this week, despite authorities around the world attempting to ease lockdown measures put in place to curb the virus’ spread.

May 21, 2020 1:12 PM
May 21, 2020 12:56 PM

Stocks Update: Welspun Corp receives ​orders for supply of 102 KMT of pipes. Out of these orders, one 90 KMT order is for its U.S. facility, from a North American customer for a pipeline to be commissioned in the country. The company's order book now stands at 764 KMT valued at Rs 6,200 crore, the exchange filing said. The shares hit 52-week low at Rs 55.50. At 12:30 pm, it fell 0.26 percent to trade at Rs 56.90 on the NSE. 

May 21, 2020 12:41 PM

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