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Stock Market Highlights: Sensex, Nifty end with weekly gains; pharma, realty index surge, IOCL top gainer

Stock Market Highlights: Sensex, Nifty end with weekly gains; pharma, realty index surge, IOCL top gainer

Stock Market Highlights: Sensex, Nifty end with weekly gains; pharma, realty index surge, IOCL top gainer
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Summary

Stock Market Highlights: The Indian benchmark indices recovered from day's low and traded higher on Friday led by gains in pharma and realty stocks. Indian Oil Corporation was the Nifty50 top gainer while Axis Bank became the top loser. 

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

1. Market gains for 3rd straight day; Sensex and Nifty up 6% in 3 sessions

2. Market reverses opening losses to close at a fresh one-month high

3. Sensex gains 600 points from lows to end 224 points higher 32,424

4. Nifty gains 203 points from lows to close 90 points higheer at 9,580

5. Midcap index advances 143 points to 13,273 and Nifty Bank 127 points to 19,297

6. Market Breadth favours advances; advance:decline ratio at 2:1

7. Except media and IT, all indices close in the green, realty top gainer

8. 39 Nifty stocks close higher; IOCL, Wipro, Coal India, ONGC top gainers

9. Wipro surges 7% after company announces appointment of new CEO

10. Sun Pharma gains over 3% on DCGI's nod for COVID-related drug

11. Vodafone Idea ends off highs after company clarifies on FT's reports on Google eyeing stake

12.HDFC, ITC, HUL and L&T lift market while Infosys, TCS and Reliance drag

May 29, 2020 3:52 PM

Closing Bell: Indian market ends on a higher note; IOCL, Wipro, ONGC top gainers

Indian equity benchmark indices ended higher for the third consecutive day, with Nifty closing the first day of June series above 9,550 level.

The S&P BSE Sensex was up 223.51 points or 0.69 percent at 32,424.10, and the Nifty was up 90.20 points or 0.95 percent at 9,580.30. 

IOC, Coal India, Wipro, ONGC and Gail were the Nifty top gainers, while top losers included Infosys, Adani Ports, TCS, Axis Bank and Bharti Airtel.

Except IT index, all other sectoral indices ended in the green. Pharma and realty indexes surged the most, by 4 percent.

About 1,390 shares have advanced, 924 shares declined, and 159 shares are unchanged.

May 29, 2020 3:38 PM
May 29, 2020 3:34 PM
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Stock Market Highlights: Sensex, Nifty end with weekly gains; pharma, realty index surge, IOCL top gainer
May 29, 2020 3:13 PM

Lupin's shares slip 5% post weak US sales, standalone Q4 reading

Lupin's share price slipped 5 percent after the pharma major reported double-digit decline across standalone earnings parameters due to weak US sales.

The company's standalone net sales fell 16 percent to Rs 2,483.88 crore as against Rs 2,972 crore in the March quarter 2019. Net profit plunged 58 percent to Rs 225 crore.

At 11:40 am, the shares traded 1.37 percent lower at Rs 869 while on intraday, the share price slipped 5 percent to Rs 840 per share on the NSE. Click here to read more

May 29, 2020 3:05 PM

Cadila Heathcare's shares gain 4% over EIR approval from US FDA

Cadila Healthcare's share price rose 4.28 percent to Rs 352.50 on the NSE after the company informed the exchanges that its formulations manufacturing facility in Baddi has received the Establishment Inspection Report (EIR) from the US FDA. The classification of the facility is termed as 'No Action Indicated' (NAI). The audit is now closed with zero observations.

May 29, 2020 2:49 PM
May 29, 2020 2:32 PM

Rupee Update: The Indian currency ended with modest gains on Friday at 75.62 against the US dollar. The Indian rupee ended 14 paise higher as compared to Thursday's close of 75.76. The government today sold bonds worth Rs 36,000 crore at its weekly auction, as compared to its initial plan of Rs 30,000 crore.

May 29, 2020 2:22 PM

Buzzing Stock: Rain Industries shares surged over 12 percent after the company reported 54.8 percent rise in net profit to Rs 106.52 crore in the quarter ended March 2020 as against Rs 68.81 crore during the previous quarter ended March 2019. Sales declined 9.35 percent from the year-ago period to Rs 2,897.65 crore. EBITDA stood at Rs. 460.23 crore up 24.1 percent from Rs 370.84 crore in March 2019.

May 29, 2020 2:10 PM
May 29, 2020 1:56 PM

Technical Expert View: Indian equity benchmark opened on a negative note tracking worries over US-China tensions and weak expectation of Q4 GDP data which is expected to be released post market hours. 

Market continues to trade volatile between positive and negative territory due to mixed trading across counters. Market is expected to trade in red territory due to selling in index heavyweight banking stocks and weak global political sentiments, says ​Sundar Sanmukhani, Head of Fundamental research desk at Choice broking.

May 29, 2020 1:44 PM

European markets fall with U.S.-China tensions escalating

European markets retreated on Friday morning as escalating tensions between the U.S. and China push back on the week’s positive sentiment amid the reopening of economies across the continent.

The pan-European Stoxx 600 fell 1 percent at the start of trading, auto stocks dropping 3.2 percent to lead losses as all sectors except health care slid into negative territory.

DAX traded 1 percent lower at 11,664 while the FTSE fell nearly half a percent to 6,184. CAC fell 0.75 percent to 4,735.

U.S. President Donald Trump is expected to hold a press conference Friday “on China” and markets are expecting a further souring of relations between the world’s foremost economic superpowers.

May 29, 2020 1:30 PM
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Stock Market Highlights: Sensex, Nifty end with weekly gains; pharma, realty index surge, IOCL top gainer
May 29, 2020 1:14 PM
May 29, 2020 12:59 PM

Automobile industry to see double-digit sales decline in FY21, says Crisil

The domestic automobile industry is headed for another year of double-digit sales decline this fiscal, given the extended lockdown to contain the COVID-19 pandemic, Crisil Research said on Friday.

Overall sales volume would plunge to multi-year lows, with sales of both passenger and commercial vehicles reaching fiscal 2010 levels, it said.

For the full fiscal, sales of passenger vehicles (PVs) are expected to decline 24-26 per cent as compared with a 21-23 per cent contraction for two-wheelers, according to Crisil Research. Click here to read more

May 29, 2020 12:44 PM

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