Nifty, Sensex Post Fourth Monthly Derivatives Series Loss In Five
Statues of a bear and a bull sit on a windowsill at a stock exchange. (Photographer: Alex Kraus/Bloomberg)

Nifty, Sensex Post Fourth Monthly Derivatives Series Loss In Five

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Decoding The May Series

Contributors To Nifty's Gains

Closing Bell: Momentum Continues

Indian equity markets ended the May series on a strong note, logging in its second straight day of gains. Positive cues from the U.S. and European markets aided sentiment, as did the IMD forecast that the Monsoon will hit the Kerala coast by June 1-2.

The S&P BSE Sensex ended 1.9% higher at 32,200 while the NSE Nifty 50 index ended just below the 9,500 mark at 9,490, up by 1.9%.

Both the benchmarks managed to trim the losses for the series, courtesy the gains from the last two days. The Sensex ended the May series down 4.5% while the Nifty ended 3.75% lower on a Series-to-Date basis.

Among sectoral indices, the Media and Auto indices outperformed, ending with gains of over 3 percent while the Nifty Bank, Nifty Metal and Nifty Realty gained over 2 percent each.

Market breadth remained in favour of the advances. 1,245 stocks on the NSE ended with gains while 531 posted losses in today's session.

Stock Update: SPARC

Sun Pharma's subsidiary announced a worldwide licensing agreement with its parent company for the development and commercialisation of SCD-044, a drug evaluated as a potential oral treatment for atopic dermatitis.

Sun Pharma will pay the company an upfront payment of $20 million, the exchange filing said.

The company will also be eligible to receive up to $125 million as milestone payments contingent upon the achievement of clinical, regulatory and sales milestones.

Shares are locked in an upper circuit of 10% at Rs 139.35. Shares of Sun Pharma too gained 2.1% to Rs 460.1, post the announcement.

Stock Update: EID Parry

  • Top performer on the Nifty Smallcap Index
  • Gains as much as 18.55% to Rs 206.4
  • Biggest single-day gain since November 2019
  • Trades at the highest level in three months
  • Up for the third straight day
  • Longest winning streak in three weeks
  • Has gained 27% in the last three trading sessions
  • Today's volumes are 14.9 times higher than its 30-day average
  • Crosses 200 and 100-Day Moving Average at Rs 174 and Rs 179 respectively
  • Stock trades in overbought territory with Relative Strength Index (RSI) at 74
  • Has nearly doubled from its 52-week low of Rs 102.1 on March 24, 2020

Earnings Fineprint & Stock Reaction: Federal Bank Q4FY20

  • Net Interest Income up 10.9% to Rs 1,216 crore
  • Net profit down 21% to Rs 301.2 crore
  • Provisions rise to Rs 567.5 crore from Rs 160.9 crore in the previous quarter
  • Gross NPA at 2.84% from 2.99% sequentially
  • Net NPA at 1.31% from 1.63% in the previous quarter
  • Additional provision of Rs 63 crore for the Covid-19 Pandemic.
  • 35% of loan book by value under moratorium

Shares are at the day's high, gaining as much as 5.74% to Rs 43.30, post the announcement.

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