Closing Bell: Nifty ends below 11300, Sensex at 37847, midcaps in tailspin, RIL, Axis Bank drag, HDFC twins, HUL support

Only 12 Nifty stocks close in the green, Zee Entertainment top gainer after Q1 earnings##Only 12 Nifty stocks close in the green, Zee Entertainment top gainer after Q1 earnings

Here are the main highlights from the markets today##Here are the main highlights from the markets today

-Market slips for 5th straight day, ends at two-month closing lows with the Nifty slipping more than 356 points. The Sensex has erased 1,233 points in last 5 sessions.

-Only 12 Nifty stocks close in the green, Zee Entertainment ends as top gainer after Q1 earnings. Most auto stocks trade at lowest levels in 2-3 years, Eicher top loser.

-HDFC snaps five-day losing streak and HDFC Bank ends higher after three sessions.

Closing Bell: Nifty settles below 11300, Sensex dips 135 points, midcaps fall sharply##Closing Bell: Nifty settles below 11300, Sensex dips 135 points, midcaps fall sharply

The BSE Sensex settled 135 points lower, or 0.36 percent, to close Wednesday's trade at 37,847.65. The NSE Nifty50 also slipped by nearly 60 points, or 0.53 percent, to trade at 11271. The Nifty MidCap index ended 1.48 percent lower, while the banking gauge, Bank Nifty fell more than half a percent. BSE Metal fell the most by over 3 percent among sectoral gauges. Among Nifty gainers, Zee Entertainment shares gained more than 4.2 percent, Asian Paints 3.45 percent, Hindustan Unilever over 2 percent and HDFC almost 2 percent. HCL Tech also surged over a percent among Nifty gainers. Among Nifty losers, UPL shares ended 5.45 percent lower, Adani Ports more than 5 percent, Indiabulls Housing Finance almost 4 percent and IndusInd Bank 3.6 percent. 

Three private banks doubled investor wealth in 5 years##Three private banks doubled investor wealth in 5 years

Three private-sector lenders from the Nifty Bank index gained over 100 percent, doubling investor wealth in the last 5 years. These include Kotak Bank, HDFC Bank, and IndusInd Bank. The Nifty Bank index has risen 88 percent in this duration as compared to a 45 percent gain in the Nifty50 index. READ MORE

Newgen Software tanks as first quarter consolidated PAT down 95% QoQ##Newgen Software tanks as first quarter consolidated PAT down 95% QoQ

Shares of Newgen Software slipped over 13 percent to a three-month low of Rs 248.30 after the company posted a sharp decline in consolidated net profit for the June quarter due to a significant fall in foreign exchange gains. The consolidated net profit for Apr-Jun was at Rs 3.08 crore, down over 95 percent from Rs 62.51 crore a quarter ago.

Nifty Metal index slumps 3%; JSPL, SAIL, Tata Steel top losers##Nifty Metal index slumps 3%; JSPL, SAIL, Tata Steel top losers

Metal stocks declined on Wednesday, with the Nifty Metal index down about 3 percent in the afternoon session. A consistent global economic slowdown and domestic liquidity crunch, along with a lacklustre demand from both auto and construction companies have weighed on metal prices in recent times. The automobile industry in India has been experiencing major stagnation for the past four quarters. READ MORE

This is the only Nifty50 stock that gave double-digit returns in 1 month##This is the only Nifty50 stock that gave double-digit returns in 1 month

Zee Entertainment is the only Nifty50 stock that rose in double-digits this month. Zee Entertainment shares jumped over 11 percent in one month as promoters are in talks to sell a stake of the company. However, in last one year, the stock price has eroded 28 percent and about 21 percent this year.

However, the company has been delivering a good set of earnings after it launched its OTT platform, Zee5. The June-quarter earnings saw a strong set of numbers. The company's consolidated net profit surged 62.6 percent to Rs 530.6 crore compared to Rs 325.88 crore in the corresponding quarter last year. READ MORE

IndiGo promoters finally call a truce, outstanding issues being resolved##IndiGo promoters finally call a truce, outstanding issues being resolved

IndiGo promoters — Rakesh Gangwal and Rahul Bhatia — are finally headed for a truce, sources told CNBC-TV18, adding that the finer details of an agreement between the two arrived at by the board are being worked out. The board meeting was held on July 19 and 20 to consider the April-June earnings of the firm as well as to discuss the dispute between the two promoters. There are no differences between the promoters on operational issues and airline strategy, said the sources on the condition of anonymity. READ MORE

Crompton Consumer posts a net profit of Rs 122.4 crore Vs CNBC-TV18 poll of Rs 130 crore##Crompton Consumer posts a net profit of Rs 122.4 crore Vs CNBC-TV18 poll of Rs 130 crore

Nearly 100 fund managers sell entire stake in Yes Bank in last 1 year; what should you do?##Nearly 100 fund managers sell entire stake in Yes Bank in last 1 year; what should you do?

In the last one year, about 100 mutual fund managers have completely sold their stake in Yes Bank. In June 2018, 227 mutual fund schemes had Yes Bank in their portfolio; however, by June 2019, the number was reduced to 132, data from Morningstar India showed. Consequently, the exposure of mutual funds to Yes Bank drastically came down to Rs 1,751 crore in June 2019 from Rs 8,930 crore in June 2018. However, a sharp fall in the price of the scrip is also responsible for this. READ MORE

Dolly Khanna trims stake in 11 companies in Q1 as small and midcaps continue to tumble##Dolly Khanna trims stake in 11 companies in Q1 as small and midcaps continue to tumble

Chennai-based Dolly and Rajiv Khanna, famous for picking quality mid and smallcap stocks, cut their stake in 11 companies in the June quarter, according to shareholding data as of July 22. Most stocks in their portfolio (primarily mid and smallcaps) have given negative returns so far in 2019, which has led the duo to reduce holdings. There are six companies in which the duo reduced stake in June quarter but kept it above 1 percent. They are IFB Agro Industries, Nocil, Muthoot Capital, Rain Industries, Nilkamal and Radico Khaitan. READ MORE

Britannia hits 1-month low in overall weak market##Britannia hits 1-month low in overall weak market

Shares of Britannia Industries fell for the fourth trading session and hit a one-month low of Rs 2,635.95 due to weakness in the stock market. Shares of Britannia Industries were down 3 percent at Rs 2,648, the weakest among the Nifty FMCG stocks. So far in 2019, shares of the company have fallen nearly 15 percent, while the Nifty FMCG index, which declined 5.6 percent during the same period. 

Eicher Motors tanks on news HDFC Bank stops funding to dealers##Eicher Motors tanks on news HDFC Bank stops funding to dealers

Eicher Motors' shares dropped to a three-year low of Rs 16,175 on a report that HDFC Bank has stopped extending credit to its dealers. Weak automobile sales across the country have led to lower profits for dealers, and increased the number of defaults by them. Higher defaults by dealers could be a reason for HDFC Bank stopping funding. At 12.30 pm, shares of the company were down 4 percent at Rs 16,420, the worst hit on the Nifty 50. 

OMCs decline as crude oil prices edge higher##OMCs decline as crude oil prices edge higher

Shares of oil marketing companies (OMCs) declined on Wednesday after the crude oil prices edged higher. Intraday, the share price of Bharat Petroleum Corporation Ltd fell 4 percent to its day's low of Rs 344.70 per share on the NSE. Hindustan Petroleum Corporation Ltd was down 4.6 percent to Rs 276.65 and Indian Oil Corporation was down 1.59 percent to Rs 145. READ MORE

Karur Vysya Bank posts a net profit of Rs 72.9 crore Vs CNBC-TV18 poll of Rs 74.7 crore##Karur Vysya Bank posts a net profit of Rs 72.9 crore Vs CNBC-TV18 poll of Rs 74.7 crore

Torrent Pharma shares jump 6% on strong Q1 results##Torrent Pharma shares jump 6% on strong Q1 results

Shares of Torrent Pharma rose 6 percent on Wednesday after the company's net profit for the first quarter ended June 30, 2019, jumped 33 percent to Rs 216 crore on robust sales. The profit in Q1FY19 stood at Rs 163 crore. The stock gained as much as 6.1 percent intraday to Rs 1,558.45 per share on the BSE. At 10:40 AM, the stock was trading 4 percent higher at Rs 1,530 as compared to 0.45 percent (170 points) fall in the BSE Sensex at 37,812. READ MORE

HDFC Life shares jump 5% on stellar Q1; brokerages raise price targets##HDFC Life shares jump 5% on stellar Q1; brokerages raise price targets

Shares of HDFC Life gained as much as 5 percent to Rs 532.90 after the company reported a near 12 percent rise in June-quarter net profit. HDFC Life's first-quarter profit-after-tax advanced to Rs 425 crore as compared to 380 crore in the corresponding period last year, as the value of the new business (VNB) doubled for the company. READ MORE

M&M Financial shares plunge 15% to 52-week low after Q1 profit slump##M&M Financial shares plunge 15% to 52-week low after Q1 profit slump

Shares of Mahindra & Mahindra Financial Services declined as much as 15 percent to a 52-week low of Rs 289.15 on Wednesday, after India's largest tractor financier reported a 66 percent slump in its June-quarter consolidated net profit. READ MORE

Nifty continues to trade below 11,300, Sensex falls 165 points, trades at 37,800##Nifty continues to trade below 11,300, Sensex falls 165 points, trades at 37,800

Gold crawls higher on Middle East tensions; dollar rally caps gains##Gold crawls higher on Middle East tensions; dollar rally caps gains

Gold prices rose on Wednesday, moving away from a one-week low touched in the previous session, as escalating tensions in the Middle East drove investors towards the safe-haven metal, while a stronger dollar limited the metal’s gain. Spot gold was up 0.3% at $1,420.65 per ounce as of 0353 GMT, after hitting its lowest since July 17 at $1,413.80 in the previous session. US gold futures were steady at $1,421.30 an ounce.

Zee Entertainment's stake sale will be announced by July-end, says CEO Punit Goenka##Zee Entertainment's stake sale will be announced by July-end, says CEO Punit Goenka

Media firm Zee Entertainment Enterprises Ltd (ZEEL) Tuesday reported a 62.56 per cent increase in consolidated net profit at Rs 529.76 crore for the first quarter ended June 2019, helped by growth in subscription revenue. In an interview with CNBCTV18, Punit Goenka, MD & CEO of the company, discussed financial results and shared growth outlook. "We expect 25 percent subscription revenue growth in FY20. Subscription revenue contributed 35 percent to topline in Q1,” Goenka said on Wednesday. READ MORE

Nifty fails to hold 11,300, trades below this level for the first time in the last two months##Nifty fails to hold 11,300, trades below this level for the first time in the last two months

Top stock recommendations by Ashwani Gujral, Mitessh Thakkar, Prakash Gaba for Wednesday##Top stock recommendations by Ashwani Gujral, Mitessh Thakkar, Prakash Gaba for Wednesday

Prakash Gaba - prakashgaba.com

- Buy BPCL with a stop loss of Rs 353, target at Rs 373.

- Buy Hero Motocorp with a stop loss of Rs 2,430, target at Rs 2,540.

- Buy ITC with a stop loss of Rs 267, target at Rs 275.

- Buy PowerGrid with a stop loss of Rs 207, target at Rs 215.

Click or tap for more buy-sell ideas from market experts Ashwani Gujral and Mitessh Thakkar

Opening Bell: Sensex, Nifty edge up after flat start, Yes Bank, ZEE Ent, HDFC gain##Opening Bell: Sensex, Nifty edge up after flat start, Yes Bank, ZEE Ent, HDFC gain

Indian shares edged up after a flat start on Wednesday. The Sensex added over 84 points, or 0.22 percent, to trade at 38,067 in initial trade. The Nifty also surged 23 points, or 0.20 percent, to trade at 11354. The Nifty MidCap index was up 0.14 percent, while the Nifty Bank too gained 0.12 percent. Yes Bank, Zee Entertainment, HDFC, Indiabulls Housing Finance and Titan were among top Nifty gainers, rising by up to 2 percent. BPCL, Grasim, Maruti Suzuki, Cipla and Indian Oil Corp declined by up to 1.3 percent. 

Rupee opens lower at 69.09 against the US dollar##Rupee opens lower at 69.09 against the US dollar

Changing plains of public market deals: Here is a close look at insider trading regulation amendments##Changing plains of public market deals: Here is a close look at insider trading regulation amendments

The Securities and Exchange Board of India (Sebi) Prohibition of Insider Trading Regulations 2015 (PIT Regulations) have been equipped with its recent round of amendments to play an increasing role in public M&A transactions. Based on the recommendations of the Committee on Fair Market Conduct chaired by TK Viswanathan, the amended PIT Regulations, which came into effect on April 1, 2019, have lent much required clarity to various aspects of deal making. READ MORE

Bharti Infratel Q1 Earnings: Key things to watch out for##Bharti Infratel Q1 Earnings: Key things to watch out for

Leading telecom tower infrastructures provider Bharti Infratel is set to report its first-quarter results today. 

Here are the key things to watch out for:

-A muted quarter is expected for the company, with the revenue seen flat at Rs 3,600 crore.

-For FY19, the revenue growth was only 0.6 percent and there was a sharp decline in the average tenancy from 2.26 to 2.06. The tenancy is likely to be weak in Q1 as well. The average tenancy has declined for the sixth straight quarter now. READ MORE

Zee Entertainment Q1 net profit up 62.6% to Rs 530 crore##Zee Entertainment Q1 net profit up 62.6% to Rs 530 crore

Media firm Zee Entertainment Enterprises Ltd (ZEEL) Tuesday reported a 62.56 per cent increase in consolidated net profit at Rs 529.76 crore for the first quarter ended June 2019, helped by growth in subscription revenue. The company had posted a net profit of Rs 325.88 crore in April-June quarter a year ago, ZEEL said in a BSE filing. Total income during the quarter under review stood at Rs 2,112.03 crore, up 15.93 per cent from Rs 1,821.78 crore in the corresponding quarter of the previous year. READ MORE