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

1. Market ends at a 2-week high after Rs 20 lakh crore economic package announcement by PM Modi

​2. Sensex and Nifty gain 2 percent each while Nifty Bank surges more than 4 percent

3. Nifty emds 187 points higher 9,384 and Sensex 637 points higher at 32,009

4. Nifty Bank gains 772 points to 19,635 and midcap 293 points to 13,064

5. Financials contribute over 60 percent to Nifty; HDFC twins, ICICI top gainers

6. Except pharma and FMCG, all close higher; PSU Bank top gaining index

7. 45 Nifty stocks close higher; Zee Entertainment, Adani Ports, Axis Bank and L&T top gainers

8. Nestle declines 5 percent despite reporting earnings better than expectations

9. Kotak Mahindra Bank up 3 percent after reporting operationally strong earnings

10. Maruti Suzuki slips from highs after lower-than-expected Q4 earnings

11. Jubilant LifeSciences advances 5 percent after an agreement with Gilead for COVID-19 drug

May 13, 2020 3:46 PM

Closing Bell: Market snaps two-day losing streak, ends 2% higher ahead of FM's speech

The Indian equity market ended in the green on Wednesday even after giving up most of the opening gains. The Street's focus now is on the Finance Minister Nirmala Sitharaman who will begin her press conference at 4 PM, giving out details on the Rs 20 lakh crore relief package.

The S&P BSE Sensex ended 2 percent higher at 32,014 and the Nifty50 index too gained 2 percent to end at 9,385.

Among sectoral indices, Nifty PSU Bank remained the winner today, surging nearly 7 percent.

Zee Entertainment, Axis Bank, UltraTech Cement, L&T and Adani Ports were the Nifty50 top gainers while Nestle India, Sun Pharma, Bharti Airtel, Britannia and TCS remained the index losers.

May 13, 2020 3:41 PM

Aviation ministry discusses SOP for resuming flights with airlines, airports

The union civil aviation ministry is gearing up for resumption of flights in domestic market and has started discussing standard operating procedure (SOP) to be followed by airlines, airports, passengers and other stakeholders amid COVID-19 pandemic.

The ministry has asked airlines, airports and other stakeholders for inputs on the latest draft standard operating procedure. It is important to note that scheduled passenger flights have been suspended for international market since March 23 and for domestic market since March 25. Click here to read more

May 13, 2020 3:25 PM

May 13, 2020 3:17 PM

May 13, 2020 3:01 PM

Nifty Pharma index slips for the 3rd consecutive session, only index in red

The Nifty Pharma index was the only top laggard in today's trading session due to losses in Sun Pharma, Lupin and Aurobindo Pharma.

The sector has slipped 3 percent in the last 3 trading sessions. In today's trade, Aurobindo Pharma and Sun Pharma slipped the most, by 3 percent. Meanwhile, Lupin, Piramal Enterprises and Divis Labs fell between 1-2 percent.

The only two pharma stocks trading in the green are Glenmark and Cipla.

May 13, 2020 3:01 PM

European markets fall sharply as coronavirus fears weigh on investor confidence

European stocks fell sharply on Wednesday as concerns over a second wave of coronavirus infections, and the timing of a vaccine, weighs on investor sentiment.

The pan-European Stoxx 600 dropped 1.6 percent in early trade, with autos falling 3.1% to lead losses as all sectors and major bourses slid into negative territory.

At 2:30 pm, DAX and FTSE 100 traded over one percent lower to 10,683 and 5,930 respectively. CAC fell 2 percent to 4,389.

European markets are expected to follow the negative trend set in Asia, where investors remained cautious over a recent resurgence in coronavirus cases in certain countries regionally as they start to reopen their economies.

May 13, 2020 2:45 PM

Angry users take to Twitter after Zerodha suffers tech glitch again

Updated : May 13, 2020 01:54 PM IST Zerodha Kite platform's server crashed yet another time on Wednesday due to some technical glitch. Zerodha has faced issues on several occasions in the past.

May 13, 2020 2:31 PM

Rupee Update: The Indian currency gave up most of its morning gains to end flat in today's trading session. The rupee ended at 75.45 as against the US dollar as compared to Tuesday's close of 75.50.

May 13, 2020 2:20 PM

Vedanta's delisting will provide flexibility in company's both operations and finance, says Aamar Deo Singh of Angel Broking

Currently, Vedanta Resources along with group companies hold 50.14 percent stake and balance 49.86 percent is held by public shareholders. It would be a significant erosion of wealth for the existing shareholders as the stock has corrected by almost 50 percent since the start of the year, reducing the market capitalization of the company to around Rs.30,000 crores, said Aamar Deo Singh, Head of Advisory at Angel Broking.

He further said that COVID-19 has had a serious impact on the metals industry, and Anil Agarwal is taking this opportunity to take the company private, that will provide his company, more operational and financial flexibility in a capital-intensive business.

In a nutshell, all the investors of the company, who have held shares of the company with high hopes, will have to be satisfied with what’s being offered as it does not leave much of an option for them, added Singh.

May 13, 2020 2:08 PM

May 13, 2020 1:57 PM

SC agrees to hear plea seeking ban on WhatsApp's payment service through messaging app

The Supreme Court agreed to hear a plea by a thinktank that sought a ban on WhatsApp's beta payment service, which has been rolled out as part of its popular instant messaging app.

The plea, filed by Good Governance Chambers, said that WhatsApp was allowed a licence for beta testing to launch a dedicated app for UPI transactions, and that by embedding the service in its messaging app, the company has committed a "flagrant violation of regulatory norms".

It further called that the SC direct the RBI and NPCI to take action against WhatsApp. Read more

May 13, 2020 1:34 PM

PM Modi's Rs 20 lakh crore stimulus package will reset Indian economy, says CEA Sanjeev Sanyal

Speaking ahead of Finance Minister Nirmala Sitharaman's press briefing at 4 pm on Wednesday on the stimulus, Sanyal said it is bigger than expectations and will have some degree of credit guarantees.Get latest Economy online at cnbctv18.com

May 13, 2020 1:18 PM

Kotak Mahindra Bank's net profit rises 10% YoY; shares up 4%

Kotak Mahindra Bank on Wednesday reported a 10 percent on-year fall in standalone net profit to Rs 1,266.6 crore in the fourth quarter of fiscal 2020 as against Rs 1,407.80 crore in the same period last year. CNBC-TV18 poll had an estimated profit of Rs 1,478.3 crore.

Net Interest Income (NII) in Q4FY20 increased to Rs 3,560 crore from Rs 3,036 crore in Q4FY19 while Net Interest Margin (NIM) was at 4.72 percent.

The bank has made a COVID-19 related general provision of Rs 650 crore, which is higher than the RBI requirement. Total provisioning towards Advances (including specific, standard and Covid provisions) is higher than the GNPA of the bank.

May 13, 2020 1:05 PM

Dr Reddy's Srikakulam plant receives Establishment Inspection Report (EIR)

Dr Reddy's Laboratories share price rose 2 percent after the company's Srikakulam Plant Unit I received the Establishment Inspection Report (EIR) from the U.S. FDA.

The EIR indicates closure of the audit while the inspection classification of this facility is determined as No Action Initiated (NAI). The drugmaker had informed the exchanges on February 14 this year that the said unit received zero observations from the U.S. FDA audit.​

May 13, 2020 12:51 PM

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