The Indian equities, Sensex, Nifty, opened higher on Monday after exit poll results predicted that the BJP would win the Lok Sabha elections 2019 with a thumping majority. Positive trends on SGX Nifty indicate a strong opening for the benchmark indices in India. The SGX Nifty Index Futures for May delivery were trading at 11,679, up by 244.50 or 2.14 per cent, at 9:52 AM, Singapore Time. On the corporate front, about 658 companies will declare their quarterly earnings numbers this week, including index heavyweights such as BPCL, HPCL, Tata Motors and Tech Mahindra. Analysts believe the market will cheer the prospect of a stable government at the centre. Also, the possibility of the BJP returning with absolute majority can lift the spirit further.
Here’s a look at live updates for the Indian share market today.
10:05am: Jubilant Life Sciences slips nearly 6% on weak Q4
Shares of Jubilant Life Sciences tumbled nearly 6 per cent in early trade after it reported a net loss of Rs 100.65 crore in the fourth quarter ended March 31, 2019, dented by one time loan settlement with International Finance Corporation (IFC). Revenue was up 5.9% at Rs 2,385.6 core as compared to Rs 2,274.87 crore last year.
9:55am:Tata Power shares zoom 10%
Shares of Tata Power Company rallied 10 per cent in early trade on Monday. Last week, the power utility has signed a Memorandum of Understanding (MoU) with Mahanagar Gas Limited (MGL) to foray into emerging e-mobility business.
9:50am: The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of 1872 traded shares, 1478 advanced, while 319 declined, and 75 were unchanged.
9:45am:Adani shares up 11%
Shares of Adani Enterprises rallied 11 per cent in early trade on Monday in line with benchmark indices after a majority of exit polls for Lok Sabha election 2019 indicated the National Democratic Alliance (NDA) is coming back to power.
9:40am: All sectoral indices trade in green
On the sectoral front, all the indices were trading in green, while realty and capital goods stocks were among top gainers on the BSE, rising as much as 3.96 per cent and 3.82 per cent, respectively.
9:35am: Cipla shares up 2.5% after USFDA issues no observations
Shares of Cipla gained 2.5 percent in the early deals on Monday after USFDA issued zero observations for its Indore facility.
9:30am: Indian benchmarks surged nearly 2 per cent in opening deals today as investors were boosted by the prospect of a stable government at the centre. Also, the possibility of the BJP returning with absolute majority can lift the spirit further. As per India Today-Axis My India Exit Poll, the Bharatiya Janata Party (BJP)-led NDA will win around 339-365 seats, while the Congress party will be reduced to 77-108 seats.
9:25am: Oil update
Oil prices surged 1% on Monday after Saudi Energy Minister Khalid al-Falih said that oil producing countries have agreed to continue limiting supplies, Reuters reported. Brent crude futures stood at USD 72.98 a barrel around 5:30 am, up 1.1 per cent, against the previous close.
9:20am: Rupee opens higher against dollar
The Indian rupee opened higher by 73 paise at 69.49 per dollar on Monday against previous close 70.22, tracking positive cues from equity market.
9:15am: Opening bell
The Indian equities, Sensex, Nifty, opened higher on Monday after exit poll results predicted that the BJP would win the Lok Sabha elections 2019 with a thumping majority. The BSE Sensex was trading at 38,831.09, up by 900.32 points or by 2.37 per cent, and the NSE Nifty was at 11651.9, up by 244.75 points or by 2.15 per cent. In line with benchmark indices, the broader market also surged in opening trade, with the BSE MIDCAP trading at 14,685.83, up by 377.47 points or by 2.64 per cent. The BSE SMLCAP was at 14,179.85, up by 292.71 points or by 2.11 per cent.
9:00am: Global update
Overseas, Asian markets were mostly trading higher, barring Shanghai SE Composite Index and Hang Seng, despite rising trade tensions between the US and China.