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Markets will remain closed on 6th April, 2020 on account of Mahavir Jayanti.

Rising Oil Prices amid Middle East Tensions, Key Q4FY19 Results and Top Stocks in Action
Fri, 17 May Pre-Open | Rini Mehta, TM Team

The Indian share markets surged in the final hour of trading on Thursday. At close, the Sensex was 279 points at 37,393, while Nifty was up 100 points at 11,257.

Except pharma, all other sectoral indices ended higher led by IT, metal, energy, bank and automobiles sector.

Rupee opened stronger at 70.27 versus Wednesday's close of 70.33 against the US dollar.

Top Stocks in Focus

Bajaj Finance share price will be in focus as the company reported a rise of 49.9% in its net profit at Rs 11.1 billion for the quarter under review as compared to Rs 7.4 billion for the same quarter in the previous year.

Meanwhile, Hindalco reported a fall of 37.4% in its net profit at Rs 2.4 billion for the quarter ended March 2019 as compared to Rs 3.8 billion for the same quarter in the previous year.

JSW Energy reported consolidated net profit at Rs 39 million versus Rs loss of Rs 4,831 million, revenue up 8.4% at Rs 19,240 million versus Rs 17,750 million, YoY.

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The United States Food and Drug Administration (USFDA) has completed inspection at Lupin's Aurangabad manufacturing facility. The inspection was carried out from 6 May to 15 May 2019. The stock will be watched out today.

Shilpa Medicare has received USFDA final approval for its ANDA, Zoledronic Acid Injection, 4 mg/5 mL. The drug is a generic equivalent of reference listed drug (RLD) Zometa.

Ashok Leyland has received an order from Senegal. This order comes from Senbus Industries, a company assembling urban buses in Dakar. The company has signed a contract for supplying 400 units of Ashok Leyland Eagle 916 Minibuses worth Euro 10.1 million.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

Results Corner

Market participants will track Bajaj Auto, CESC, Ador Fontech, City Union Bank, Corporation Bank, IOC, SRL, UPL among others as they announce their March quarter results today.

Global Stock Market Drivers

Bonds rose globally on Thursday, European stocks edged lower with US equity futures and Asian shares fell amid simmering trade tensions between the world's biggest economies. The dollar was steady and crude oil gained.

Equities have oscillated this week as traders scramble to make sense of a slew of headlines.

In the latest developments, President Donald Trump signed an order that's expected to restrict Chinese telecommunications firms from selling their equipment in the US, while he's set to give the European Union and Japan a deadline to agree to "limit or restrict" automobile exports to America.

Amid the confusing landscape, traders have increased bets on the Federal Reserve cutting borrowing costs later this year.

Here are some notable events to watch out for:

  • Walmart and Nvidia are among companies reporting earnings today.
  • Bank of Indonesia's an interest rate decision will be in focus.

Oil Prices Rise amid Middle-east Tensions

Oil prices rose on Thursday for the third day in a row as fears of supply disruptions amid heightened tensions in the Middle East overshadowed swelling US crude inventories.

Brent crude futures were at US$72.30 a barrel, up 53 cents from their last close. Brent is heading for its biggest weekly rise in six weeks.

US West Texas Intermediate (WTI) crude futures were at US$62.49 per barrel, up 47 cents from their previous settlement.

Oil was drawing support from the risk of conflict in the Middle East, with helicopters carrying US staff from the US embassy in Baghdad on Wednesday out of apparent concern about perceived threats from Iran.

Also keeping prices in check is uncertainty about whether OPEC and other producers will maintain into the second half of the year supply cuts that have boosted prices more than 30% in 2019.

The Organization of the Petroleum Exporting Countries (OPEC) said on Tuesday that world demand for its oil would be higher than expected this year.

The OPEC+ group of producers, which includes Russia, meets next month to review whether to maintain the pact beyond June.

The oil market is marked by tight supply.

An end this month to US waivers that allowed some countries to buy Iranian oil after the reposition of US sanctions has prompted Tehran to relax restrictions on its nuclear program and threaten action that could breach a 2015 nuclear deal.

An attack on four oil tankers in the Gulf on Sunday, for which no one has claimed responsibility, and Saudi Arabia's announcement that armed drones hit two of its oil pumping stations, have compounded concerns have stoked supply-side fears.

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Stock Market Updates

NOCIL Plunges by 5%; BSE 500 Index Down 1.8% (Today's Market)

Apr 3, 2020 03:33 PM

NOCIL share price has plunged by 5% and its current market price is Rs 68. The BSE 500 is down by 1.8%. The top gainers in the BSE 500 Index are GUJARAT ALKALIES (up 13.9%) and LUPIN (up 13.4%). The top losers are NOCIL (down 5.2%) and 3M INDIA (down 5.0%).

INDIAN ENERGY EXCHANGE LTD Surges by 5%; BSE POWER Index Down 0.3% (Today's Market)

Apr 3, 2020 03:31 PM

INDIAN ENERGY EXCHANGE LTD share price has surged by 5% and its current market price is Rs 137. The BSE POWER is down by 0.3%. The top gainers in the BSE POWER Index are INDIAN ENERGY EXCHANGE LTD (up 5.4%) and RELIANCE INFRA (up 5.0%). The top losers are KALPATARU POWER (down 0.1%) and TORRENT POWER LTD (down 0.3%).

LIC HOUSING Plunges by 5%; BSE 500 Index Down 1.8% (Today's Market)

Apr 3, 2020 03:27 PM

LIC HOUSING share price has plunged by 5% and its current market price is Rs 234. The BSE 500 is down by 1.8%. The top gainers in the BSE 500 Index are LUPIN (up 14.0%) and RAJESH EXPORTS (up 11.7%). The top losers are LIC HOUSING (down 5.2%) and MARUTI SUZUKI (down 5.4%).

AJANTA PHARMA Plunges by 5%; BSE HEALTHCARE Index Up 3.5% (Today's Market)

Apr 3, 2020 03:27 PM

AJANTA PHARMA share price has plunged by 5% and its current market price is Rs 1,414. The BSE HEALTHCARE is up by 3.5%. The top gainers in the BSE HEALTHCARE Index are LUPIN (up 14.0%) and SUN PHARMA (up 9.4%). The top losers are AJANTA PHARMA (down 5.1%) and STRIDES PHARMA SCIENCE (down 5.3%).

PERSISTENT SYSTEMS Plunges by 7%; BSE IT Index Down 2.7% (Today's Market)

Apr 3, 2020 03:25 PM

PERSISTENT SYSTEMS share price has plunged by 7% and its current market price is Rs 545. The BSE IT is down by 2.7%. The top gainers in the BSE IT Index are ORACLE FINANCIAL (up 5.0%) and ECLERX SERVICES (up 3.0%). The top losers are PERSISTENT SYSTEMS (down 7.0%) and L&T TECHONOLOGY (down 6.0%).

Sensex Falls 500 Points; Kotak Mahindra Bank & IndusInd Bank Top Losers (Today's Market)

Apr 3, 2020 12:30 pm

Indian share markets are trading on a negative note with the BSE Sensex down by 507 points, while NSE Nifty is trading lower by 134 points.

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