MARKET WRAP: Sensex ends flat ahead of PM's address, Nifty closes at 10,302

All that happened in the markets today

The domestic stock market ended Tuesday's volatile session on a flat note with negative bias, thus erasing all their early gains ahead of the Prime Minister Narendra Modi's address to the nation scheduled at 4 PM today. 

The Centre on Monday issued guidelines for “unlock 2.0”, but the rapid increase in Covid-19 cases in several parts of the country meant it stopped short of reopening schools, colleges, and coaching institutions. READ MORE

The S&P BSE Sensex ended at 34,916, down 46 points or 0.13 per cent and the NSE's Nifty settled at 10,302, down 10 points or 0.10 per cent. 

Reliance Industries (RIL), HDFC Bank, ITC, and TCS were the major contributors to the Sensex's fall. Power Grid  (down 2 per cent) ended as the biggest loser on the index while Maruti Suzuki India (MSIL) was the top gainer - up 2.8 per ecnt.

Tata Steel climbed over 4 per cent in the early deals after the announcement of its March quarter results. The stock ended at Rs 327, up 1.7 per cent on the BSE.

The trend among Nifty sectoral indices was mixed, with the Nifty Auto index ending over 1 per cent higher, leading the list of gainers. On the flip side, PSU bank stocks fell the most, followed by pharma, and media stocks. 

In the broader market, small cap index underperformed the benchmarks and midcap pack. The S&P BSE MidCap index shed 0.14 per cent while the S&P BSE SmallCap index lost 0.75 per cent.

Global markets

Asian shares advanced on Tuesday as positive economic data from China and the United States helped to close out a strong quarter, though a renewed surge in global coronavirus cases underlined a challenging investment climate.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.51 per cent, on course for its highest quarterly gain in nearly 11 years. Shares in Australia were also up 1.43 per cent, Korea jumped 1 per cent and Japan rose 1.33 per cent.

In Europe, shares edged down as markets took stock at the end of the first half of 2020.

In commodities, oil prices slipped as traders took profits after sharp gains in the previous session and Libya’s state oil company flagged progress on talks to resume exports, potentially boosting supply.

(With inputs from Reuters)

4:06 PM

SECTOR WATCH:: Nifty Auto gains 1% ahead of June sales nos

3:45 PM

MARKET COMMENT:: Vinod Nair, Head of Research at Geojit Financial Services

"In spite of trading in the positive zone for the most part of the day, the benchmark indices gave up its gains and ended flat with a negative bias. The markets were impacted by the uncertainties surrounding PM’s address to the nation. Irrespective of this, many Indian cities, are extending their lockdowns in the face of unabated growth in virus infections, which has added to the uncertainty surrounding economic recovery. The market direction for tomorrow may also largely be guided by the content of the PM’s address and global cues."

3:43 PM

MARKET AT CLOSE:: Losers and gainers on the S&P BSE Sensex

3:35 PM

CLOSING BELL

The S&P BSE Sensex slipped 46 points or 0.13 per cent to end at 34,916 while NSE's Nifty ended at 10,302, down 10 points or 0.1 per cent.

 

3:24 PM

Cement shares in focus: Ambuja, Shree Cement, UltraTech up over 2%

The cement industry has surprised positively on the demand and pricing fronts, with better-than-expected demand revival during May and June after a standstill in April, and meaningful price uptick across India. As per market intermediaries, encouraging demand scenario until the first half of June was primarily backed by pent-up demand, pickup in pre-Monsoon construction activities, an increase in spending by Panchayat in rural areas and a rise in activity under the MGNREGS program.
READ MORE 

3:11 PM

BUZZING STOCK:: Nestle India rises 2.7%

3:02 PM

ALERT :: Dow Jones Futures slip 150 pts

3:01 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

2:56 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ASTRAZENECA PHAR	3549.60	3700.00	-2.01
EID PARRY	274.40	290.65	-4.32
ESCORTS	1036.70	1061.05	0.30
FDC	280.00	297.70	1.99
GUJARAT GAS	320.40	324.35	3.54

2:49 PM

Fall from intra-day high today

COMPANY	DAY'S HIGH(RS)	DAY'S LOW(RS)	LATEST(RS)	FALL(%)
ENGINEERS INDIA	83.90	76.05	76.40	-8.94
INDIABULLS HOUS.	224.00	204.40	204.80	-8.57
FUTURE RETAIL	140.00	128.95	128.95	-7.89
FIRSTSOUR.SOLU.	38.60	35.65	35.75	-7.38

2:44 PM

Goldman India CEO Chatterjee tells clients liquidity is the biggest theme

Goldman Sachs Group is telling clients in India to fortify their balance sheets to prepare for the uncertainty brought by the coronavirus pandemic.

 

“Currently, liquidity is the biggest theme among Indian businesses, and we are advising our clients to raise capital,” Sonjoy Chatterjee, the bank’s chairman and chief executive officer (CEO) for India, said in a phone interview. READ MORE

2:33 PM

Sensex Heatmap at this hour

>> S&P BSE Sensex is trading at 34,890.33 level, down 71.19 points or 0.20 per cent

2:24 PM

MARKET CHECK :: Sudden slide in Sensex, trades flat

2:17 PM

Covid-19, economic 'comorbidities' put India's progress since 1991 at risk

Most central bankers have an elliptical, roundabout spe­aking style. By contra­st, Raghuram Rajan, when he was the governor of the Reserve Bank of India (RBI), was both an enthusiastic educator and remarkably direct. READ MORE

2:12 PM

MARKET CHECK:: BSE CPSE index trades with slight cuts; Engineers India slips 6%