Here are the key highlights from today's trading session:

Market closes with gains amid volatility, financials outperform Nifty ends with a gain of 65 points at 9,271 after trading in 230 point range Sensex gains 232 points to 31,686 after trading in the range of 812 points Nifty Bank gains 423 points to 19,695 and midcap index 82 points to 12,900 ITC drags Nifty by 19 points while HDFC twins lift by 54 points ICICI Bank, Bharti Airtel, Bajaj Finance, M&M, NTPC amongst top Nifty gainers TCS, Infosys, HUL, Bharti Infratel and Coal India amongst top losers Except Bank of Baroda, all Nifty Bank constituents close higher Axis Bank up 7 percent from lows as sources say SUUTI sale is not on the cards Oil Marketing Companies fall 2-5 percent as government keeps fuel price unchanged despite excise hike Astec Life and NIIT surge 20 percent each after Q4 earnings NBFCs gain as SBI likely to extend moratorium; M&M Financial, Cholamandalam up 8 percent each.

May 6, 2020 3:43 PM

May 6, 2020 3:29 PM

Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services: “The month of May is usually a weak month for rupee. This week market remained range bound in between 75.50-75.80 range. The risk tone has been tepid and will remain like that on renewed US-China spat. The trade war can reignite going ahead and prop up the safe haven dollar demand. Also, coronavirus cases are increasing, stocking fears of second wave of infection. Locally, there are concerns over macros, due to the extension in lockdown, India’s GDP is expected to fall near 1 percent. While, market is eagerly waiting for more stimulus measures from the government. So, the volatility in spot may continue and 75.30-75.50 will act as a strong support and we may see a bounce towards 76.50 level.”

May 6, 2020 3:20 PM

Eicher Motors shares surge 3% after resuming manufacturing operations

The share price of Eicher Motors surged 3 percent after it has resumed manufacturing operations at its facilities today.

The company's Oragadam unit will be the first to begin operations in a staggered manner, with minimal staff over a single shift. The other two facilities in Tiruvottiyur and Vallam Vadagal will resume in a phased manner, as per its press release.

Around 120 dealerships have begun partial operations right now while the company expects around 300 dealerships to be operational by mid-May.

May 6, 2020 3:08 PM

Maruti introduces new norms for dealerships amid COVID-19 pandemic

Updated : May 06, 2020 12:26 PM IST The COVID-19 SoP designed by the company encapsulates all the facets of customer interactions, MSI said.

May 6, 2020 2:53 PM

Indian Rupee: The rupee ended with losses today at 75.76 against the US dollar as against the Tuesday's close of 75.64. Weak global markets, rising cases of COVID-19 and economic concerns are affected the Indian currency.

May 6, 2020 2:35 PM

TTK Prestige gains 2% over resuming operations

TTK Prestige gained 2 percent to Rs 4,770 after the company said that it has started primary billing from May 4 and that one-third of its Prestige Xclusive stores in green and orange zones have started retailing.

The manufacturing facilities in Hosur, Uttarakhand and Karjan have resumed operations after receiving necessary permissions. The company also said that it will resume online sales from May 6 after the warehouses are sanitized and work is resumed with applicable conditions.

May 6, 2020 2:17 PM

European markets edge lower as lockdown lifting and oil prices remain in focus

European stocks declined slightly Wednesday morning as investors keep an eye on developments in the U.S. following the country’s lifting of lockdown restrictions. The pan-European Stoxx 600 edged 0.2 percent below the flatline in the early minutes of trade. European markets are closely following developments in Europe and the U.S. as both have started to lift lockdown measures and will have to see what impact that has on the coronavirus outbreak.

At 1:52 pm, DAX and CAC traded in the red, with a decline of 0.15 percent. FTSE rose marginally by 0.27 percent at 5,865.

May 6, 2020 2:00 PM

May 6, 2020 1:45 PM

Dr Reddy Laboratories gained over a percent after the company announced the launch of Desmopressin Acetate injection in the US market. The drug had sales of $21 million in the most recent 12-month ending March 2020, according to IQVIA.

May 6, 2020 1:29 PM

ITC, Axis Bank shares fall on reports of govt looking to sell its stake

Shares of ITC and Axis Bank declined on Wednesday after news reports that the central government is looking to sell stake in these companies.

The union government is reportedly looking to raise Rs 22,000 crore by selling its stake in ITC (7.94 percent) and Axis Bank (4.69 percent), which it holds through the Specified Undertaking of the Unit Trust of India (SUUTI), in a bulk deal on the exchanges, a report by The Economic Times stated.

It added that the government is looking to complete the transaction by the end of the first or second week of May. Read more

May 6, 2020 1:15 PM

May 6, 2020 1:03 PM

Why SBI is having a rethink on granting moratorium on loans to NBFCs

The country’s largest lender State Bank of India will take up the issue of granting moratorium the non-banking financial companies (NBFCs) in its board meeting today, said people aware of the matter.

So far, SBI was not in favour of a blanket moratorium relief to any NBFC, and took a stance that it would instead support the industry via loans or investments in their bonds, CNBC-TV18 had earlier reported. Click here to read more

May 6, 2020 12:48 PM

Trending Stock: Bharat Dynamics share price surges over 7 percent after the company wins an order worth Rs 293 crore towards the supply of MRSAM Missile Sections for Indian Air Force deliverables. The order has to be executed in the next 24 months.

May 6, 2020 12:34 PM

Vodafone-Idea receives interest from PE players for its optic fiber business

Updated : May 06, 2020 11:58 AM IST The company has inter and intra city fiber spread across 160,000 kms in India.

May 6, 2020 12:17 PM

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