Stock market today LIVE Updates: Markets open in green; Sensex up 150 points, Nifty above 8,900; RIL’s Rs 53,125 cr rights issue opens today

09:30 (IST)

HDFC, UPL up 

#CNBCTV18Market | HDFC twins along with UPL & L&T are top #Nifty gainers pic.twitter.com/0vw3FTVPj3

— CNBC-TV18 (@CNBCTV18Live) May 20, 2020

09:29 (IST)

Indices open high

The Indian indices opened higher on 20 May with Nifty above 8,900 level.

At 09:16 IST, the Sensex was up 148.28 points or 0.49% at 30344.45, and the Nifty was up 42.85 points or 0.48% at 8921.95. About 392 shares have advanced, 220 shares declined, and 29 shares are unchanged.

09:20 (IST)

Markets open in green

#CNBCTV18Market | Market opens with minor gains, #Nifty above 8,900, #Sensex up nearly 200 points pic.twitter.com/p4mq79OjbB

— CNBC-TV18 (@CNBCTV18Live) May 20, 2020

09:19 (IST)

Stocks to watch out for on bourses today

#StocksToWatch | Here's the list of stocks that are in focus going into trade today pic.twitter.com/6bj7xfTcZB

— CNBC-TV18 (@CNBCTV18Live) May 20, 2020

09:14 (IST)

RIL rights issue opens today

Oil-to-telecom conglomerate's Reliance Industries Ltd (RIL) rights issue - the biggest-ever rights issue -- will open for subscription for shareholders tomorrow (20 May) and close on 3 June. One share will be offered for every 15 shares held at Rs 1,257.

#Reliance said that it will raise up to Rs 53,036.13 cr, of which Rs 39,755.08 cr would be used for paring debt.https://t.co/mnFAQDQOa3

— CNBC-TV18 (@CNBCTV18Live) May 20, 2020

09:05 (IST)

Markets expected to open in green

Aditya Agarwala, Senior Technical Analyst, YES Securities, said, "The Indian markets are expected to open in the green as guided by the SGX Nifty which is currently trading at 8,920, up 40 points from previous close back home. Further, Asia markets are showing a mixed reaction in opening trades. NIKKEI, TAIWAN, KOSPI are trading in the green while HANGSENG, JAKARTA and STRAIT are trading marginally in the red. Overnight US markets ended trade in the red, however, Dow Jones Futures currently is trading in the green with gains of 0.50%. 

"The Nifty ended trade the previous session marginally in the green, but at the low point of the day as bulls failed to take the Index beyond the 9040 resistance mark leading to profit booking in late trade. Further, following an expected GAP up opening bulls need to push the Index beyond the 9040 resistance level for any significant short covering rally to materialize taking the Index to levels of 9160. However, failure to do so will again drag it down to levels of 8900-8800. On shorter time frame technical indicators are at oversold territory and price is also at the lower end of the range suggesting a possible short covering rally maybe in the witnessed in the coming trading sessions,” Agarwala said.

09:03 (IST)

Markets likely to take Asian cues

Deepak Jasani, Head Retail Research, HDFC securities, said, "The markets could open up in line with other Asian markets but again run into sell-offs at higher levels. The Indian markets could open up today following a largely positive mood in Asian markets and despite negative US markets on Tuesday due to doubts on an early COVID-19 vaccine.

US stocks finished lower Tuesday, losing steam in the final hour of trade, after a report cast doubt on Moderna’s coronavirus vaccine candidate and Wall Street braced for a potentially protracted economic recovery. Partly tripping up the bullish mood was a report from Boston Globe Media’s STAT news service, which cast doubt on Moderna Inc.’s coronavirus vaccine candidate.

Wall Street also digested two hours of congressional testimony from Federal Reserve Chairman Jerome Powell and U.S. Treasury Secretary Steven Mnuchin and parsed earnings reports from major retailers, including Dow components Walmart and Home Depot. Also on traders’ radar Tuesday were comments by President Trump late Monday threatening to permanently cut off U.S. funding to the World Health Organization, a move experts say could undercut global health.

Stocks in Asia Pacific were mixed in Wednesday morning trade as China’s benchmark lending rate was left unchanged. China held its benchmark lending rate steady as expected on Wednesday, mirroring the central bank’s decision last week to keep borrowing costs on medium-term funding for financial institutions unchanged.

Indian indices ended higher on Tuesday breaking a 3-days losing streak, however they failed to hold on to morning gains. At close, the Nifty was up 55.85 points or 0.63% at 8879.10. The Nifty Bank index ended 0.5 percent lower at 17,486, nearly 700 points off the day's high of 18,175. Technically, markets are getting sold off on rallies reflecting weak sentiments. 8806 is the support for the Nifty while 9044 remains a resistance.

Stock market today LIVE Updates: Markets open in green; Sensex up 150 points, Nifty above 8,900; RIL’s Rs 53,125 cr rights issue opens today

Washington: Asian stocks are likely to come under pressure on Wednesday, tracking declines on Wall Street while gold prices were buoyed by safe-haven demand as economic indicators pointed to more signs of recession.

Hong Kong futures fell 0.23 percent and Australian shares were set to open lower, tracking US market losses and as diplomatic tensions between Canberra and Beijing rose. Nikkei futures were little-changed versus Nikkei 225 index's previous close.

Australia and China traded barbs on Tuesday in an increasingly acrimonious spat over Australia’s support for a global inquiry into the origins of the coronavirus pandemic.

Wall Street dropped in late-day trade after a report from medical news website STAT said early data from Moderna Inc’s COVID-19 vaccine was insufficient. Signs of economic contraction damped the investor enthusiasm seen on Monday, even as more countries loosened coronavirus lockdown restrictions.

“Equity markets have failed to build on Monday’s exuberance which was driven in part by the excitement over US drug company Moderna’s early COVID-19 vaccine test results,” National Australia Bank analysts said in a Wednesday note.

Data showed US home building dropped by the most on record last month and permits for future construction tumbled, fuelling fears the coronavirus pandemic would lead to the deepest economic contraction in the second quarter since the Great Depression.

The Dow Jones Industrial Average fell 1.59 percent, the S&P 500 lost 1.05 percent and the Nasdaq Composite dropped 0.54 percent.

The United States on Tuesday extended restrictions on cross-border travel with Canada and Mexico.

Spot gold prices were little changed and not far from Monday’s more than 7-1/2-year high, buoyed by safe-haven appeal amid economic uncertainty.

Europe’s STOXX 600 index and MSCI’s gauge of stocks across the globe both fell. The euro and European government debt rallied on a Franco-German proposal to fund grants for regions hit hardest by the pandemic.

Oil prices earlier gained after the US Treasury Secretary told lawmakers certain stimulus measures would continue.

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