Financials lead in Sensex's 522-pt rally; Nifty ends 153 pts up at 9,979

All that happened in the markets today

2:12 PM

Rupee Closing

Rupee settles at day's high of 75.36 per US dollar compared to Monday's close of 75.55/$

 

2:04 PM

VST Tillers freezes at 20% upper circuit ahead of May sales numbers

VST Tillers Tractors had posted strong sales in April 2020 with the company's total sales climbing 51 per cent year-on-year (YoY) to 1,089 units from 721 units in April 2019.

 

Besides, power tillers sales jumped to 761 units in April 2020, up 163 per cent YoY, from 289 units sold in April 2019. Tractor sales, however, contracted by 24.07 per cent to 328 units in April 2020 from 432 units in April 2019. READ MORE

2:01 PM

MARKET CHECK:: Top 5 losers on the BSE at this hour

1:49 PM

MARKET CHECK:: Welspun Enterprises trades 5% higher

1:46 PM

SECTOR WATCH:: Barring Nifty FMCG, all the indices end in the green

1:42 PM

Oil prices increase ahead of Opec+ meeting on extended output cuts

"The whole story is very much based around the supply cuts and the demand recovery," said Commonwealth Bank commodities analyst Vivek Dhar.

 

OPEC+ producers are considering extending their output cut of 9.7 million barrels per day (bpd), about 10 per cent of global production, into July or August, at an online meeting likely to be held on June 4. READ MORE

1:33 PM

INDEX GAINERS:: Vedanta gains nearly 3%

1:22 PM

BUZZING STOCK:: Bajaj Finance at day's high; top Sensex gainer at this hour

1:16 PM

NEWS ALERT :: Temenos, HCL Tech sign agreement to market Temenos’ Multiexperience Development Platform

>> Companies announced the signing of an exclusive strategic agreement for non-financial services enterprises

>> As part of this agreement, HCL has been granted a license to develop, market and support Temenos multiexperience development platform (MXDP) for non-financial services enterprises.

>> The agreement is exclusive for seven years.

(Via BSE filing)

1:10 PM

NEWS ALERT :: PNB cuts retail term deposit rate by 25-125 bps

1:10 PM

Europe opens higher

1:00 PM

Analysts ride two-wheeler stocks for gains as India eases Covid-19 lockdown

“Covid-19 should impact the rural economy relatively less than the urban economy as the spread is largely in the latter, and agriculture should suffer less from the lockdown. Covid-19 should also trigger a shift towards personal mobility, where a section of public transportation users should switch to 2Ws, especially in urban,” wrote Nitij Mangal, equity analyst at Jefferies India, along with Sagar Sahu in a co-authored report. READ MORE

12:51 PM

EXPERT COMMENT:: Dr Niranjan Hiranandani - President – NAREDCO & Assocham

The Indian economy in the backdrop of the Coronavirus lockdown will be facing an imminent contraction of its growth, so it is hardly a surprise that the rating agency has downgraded India’s ratings to negative from Stable, stated Dr. Niranjan Hiranandani.

 

According to Moodys, the decision to downgrade India's ratings reflect Moody's view that the country's policymaking institutions will be challenged in enacting and implementing policies which effectively mitigate the risks of a sustained period. “This would put additional pressure on the central government to kick-start the economy which has been severely impacted by the COVID lockdown,” he explained.

12:48 PM

Earnings Alert | Motherson Sumi Systems Q4

>> Consolidated net profit at Rs 183.4 crore

>> Revenue at Rs 15,159 crore

>> EBITDA at Rs 1,391.6 crore; margin at 9.2%

12:44 PM

IndiGo Q4 preview: Analysts see loss up to Rs 2,600 cr amid Covid-19 outbreak

With suspension of international air travel for two weeks, and domestic air travel for about 10 days due to the lockdown in the March quarter of FY20 (Q4FY20) on account of Covid-19 pandemic, analysts expect InterGlobe Aviation-run IndiGo to report net loss up to Rs 2,600 crore, compared to net profit of Rs 589.6 crore in Q4FY19. That apart, seasonal slowdown and pricing pressure during the period under review is also likely to dent performance, analysts say. The airline had reported profit of Rs 496 crore in the December quarter of FY20. READ MORE