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