Sensex Up Over 500 Points; IndusInd Bank, HDFC Bank & Hero MotoCorp Surge 5%

Share markets in India are presently trading on a strong note, in line with global peers that rallied as optimism over the reopening of economies buoyed investor sentiment.

The BSE Sensex is presently trading up by 548 points, while the NSE Nifty is trading up by 156 points.

The BSE Mid Cap index is trading up by 0.9%, while the BSE Small Cap index is trading up by 1.3%.

Sectoral indices are trading mixed with stocks in the capital goods sector and banking sector witnessing buying interest, while IT stocks are witnessing selling pressure.

The rupee is trading at 75.71 against the US$.

Gold prices are currently trading down by 0.1% at Rs 46,540.

Market participants are tracking Ceat share price, Lupin share price, and TVS Motor Company share price as these companies are scheduled to announce their March quarter results (Q4FY20) later today.

You can read our recently released Q4FY20 results of other companies here: Lakshmi Machine, Birla Corporation, Bata India, Colgate, Honeywell Automation, Hawkins Cookers, Bayer Cropscience, JSW Steel, DCB Bank.

In news from the automobile sector, Eicher Motors' share price is in focus today.

Shares of the company are trading higher for the third straight day today after the company announced a stock split plan to make the stock more affordable for small retail investors and increase liquidity.

In an exchange filing on Monday, the company said: "the board of directors of the company is scheduled to meet on June 12, 2020, to consider and approve sub-division/split of the equity shares of the face value of Rs 10 each of the Company in such manner as may be determined by the board."

The board will also consider and approve audited standalone and consolidated financial statements for the four-quarter and financial year ended March 31, 2020.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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