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This article is more than 2 year old.

Closing Bell: Sensex ends below 36700, Nifty at 10855 after RBI cuts repo rate by 35 bps, Indiabulls Housing Fin dips 13%

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Market highlights: Indian shares extended losses after volatile trade on Wednesday as the Reserve Bank of India’s monetary policy committee cut repo rate by 35bps. The BSE Sensex settled below 36700 while the NSE Nifty50 settled at 10855. Here are the main highlights from the stock markets today:

Closing Bell: Sensex ends below 36700, Nifty at 10855 after RBI cuts repo rate by 35 bps, Indiabulls Housing Fin dips 13%
  • Sensex heatmap at close: HUL, Yes Bank top gainers, M&M, Tata Steel, Tata Motors top losers##Sensex heatmap at close: HUL, Yes Bank top gainers, M&M, Tata Steel, Tata Motors top losers

    Closing Bell: Sensex ends below 36700, Nifty at 10855 after RBI cuts repo rate by 35 bps, Indiabulls Housing Fin dips 13%
  • Closing Bell: Sensex ends below 36700, Nifty at 10855, Indiabulls Housing Fin dips 13%##Closing Bell: Sensex ends below 36700, Nifty at 10855, Indiabulls Housing Fin dips 13%


    The Sensex settled 286.35 points lower, or by 0.77 percent, at 36,690.50, while Nifty was down 92.80 points, or 0.85 percent, at 10,855.50. The Nifty MidCap index settled 0.75 percent lower, while the Nifty Bank slipped over a percent. Except IT and pharma, all other sectoral indices ended in the red led by metal, auto, energy and infra. BSE midcap and smallcap index ended with marginal loss. Indiabulls Housing, M&M, Tata Steel, Tata Motors and BPCL were among major losers on the Nifty, while gainers were Zee Entertainment, Cipla, HUL, Yes Bank and Hero Motocorp.

  • These NSE stocks hit their 52-week highs or lows on August 7

    Indian equity benchmark indices turned flat on Wednesday afternoon after the Reserve Bank of India's (RBI) monetary policy committee (MPC) cut repo rate by 35 basis points while retaining its stance at 'accommodative'.
    Closing Bell: Sensex ends below 36700, Nifty at 10855 after RBI cuts repo rate by 35 bps, Indiabulls Housing Fin dips 13%
  • Largecap IT, FMCG will attract capital in short-to-medium term, says Pioneer Investcorp##Largecap IT, FMCG will attract capital in short-to-medium term, says Pioneer Investcorp


    Sandeep S Shenoy, a strategist at Pioneer Investcorp, shared his analysis on the fundamental side of the market as well as specific stocks and sectors. Speaking about consumers and FMCG, Shenoy said, “That seems to be the only sector which seems to have not de-grown, marginal growth to some slightly optimistic growth is also being visible out there. Valuations is very rich there, but they are generally considered to be the defensive sector. It is the largecap IT and FMCG or consumer goods which will be the once which will attract capital in the short to medium term.” READ MORE

  • Adani Ports Q1 net profit rises more than 46% on a yearly basis##Adani Ports Q1 net profit rises more than 46% on a yearly basis

  • Market update: Sensex, Nifty edge lower, banks, auto decline##Market update: Sensex, Nifty edge lower, banks, auto decline

    The BSE Sensex traded 129.70 points, or 0.35 percent, lower at 36,847.15, and the Nifty 50 was down 39.85 points, or 0.36 percent, at 10,908.40 at 2.33 pm. The NSE Midcap index was down 0.43 percent, while Smallcap index was up 0.08 percent. Among the sectoral indices, banking and financial services and auto fell 1 percent to 2.3 percent. Pharma was up over 1 percent and media advanced nearly 3 percent.

  • Jammu & Kashmir Bank surges 20% after Modi government scraps Article 370##Jammu & Kashmir Bank surges 20% after Modi government scraps Article 370


    Shares of the Jammu & Kashmir Bank Ltd are locked in 20 percent upper circuit on Wednesday, quoting at Rs 45 per share on the NSE. The stock has seen an upward trend over the last two days and has risen almost 32 percent during the period. READ MORE

  • Here's a quick round-up fo what has so far happened in the markets today##Here's a quick round-up fo what has so far happened in the markets today

    -Benchmark equity indices, the BSE Sensex and NSE Nifty50, rose after the Reserve Bank of India cut repo rate by 35 basis points, against street expectations of 25-basis point cut, and retaining its "accommodative" stance. 

    -The Sensex, however, soon turned negative, giving up 37,000 zone, dropping almost 98 points. The Nifty was trading around 10900, down 37 points 14.05 pm. 

    -Yes Bank shares rose nearly 8 percent to Rs 92 per share on Wednesday following a report the lender is likely to raise funds through qualified institutional placement soon.

    -Shares of Indiabulls Housing Finance slipped 8.54 percent intraday on Wednesday after the company reported disappointing first-quarter earnings of the fiscal year 2020.

    -Gold prices touched a more than six-year high on Wednesday, as the trade war between China and the United States showed no signs of abating, boosting the appeal of safe-haven assets. 

    -Titan Company’s shares fell 4.65 percent to hit a six-month low of Rs 998 after the company, in a post-earnings conference call, indicated that demand for jewellery has slowed down since the second half of June and has remained sluggish in July.

  • Central Bank of India will achieve net NPA threshold of PCA framework by FY20, says CEO Pallav Mohapatra##Central Bank of India will achieve net NPA threshold of PCA framework by FY20, says CEO Pallav Mohapatra


    Central Bank of India reported a turnaround performance in the first quarter of FY2020. Pallav Mohapatra, MD & CEO of the bank, spoke about the results and shared outlook for FY20.

    “We are putting a tight control on further slippages and we are sure that by the end of Q2 we will be much below March quarter,” said Mohapatra. READ MORE

    Shares quoted at Rs 19.90 on NSE, up 14.37 percent, after opening at Rs 18.75. It hit the day's high at Rs 20.65, close to its upper price band of Rs 20.85. 

  • Zensar Technologies expects better deal wins in FY20, says CEO Sandeep Kishore##Zensar Technologies expects better deal wins in FY20, says CEO Sandeep Kishore

    RPG group IT firm Zensar Technologies reported a near 6 percent drop in net profit for the quarter ended June 30. Sandeep Kishore, MD and CEO of the company, spoke about the financial results.

    “We have delivered a pretty good set of number in our Q1. It is about 19 percent or so in constant currency. We are executing quite well to our strategy. We have always maintained that our big focus is built around digital, the entire living digital platform and the enterprise digital capabilities that we are enabling for our customers has turned out to be quite well. All regions have delivered pretty consistent growth,” he said. READ MORE

    Shares quoted at Rs 223.95, up 2.31 percent on NSE, after opening at Rs 219.10, up from its Tuesday's close of Rs 218.90. The stock hit the day's high of Rs 227.95 and low at Rs 217.35.

  • Stock market in a bear phase: What should portfolio investors do?

    While the broad market was in a bear phase for almost a year, the last 3 months have seen price damage in the hallowed stocks.
    Closing Bell: Sensex ends below 36700, Nifty at 10855 after RBI cuts repo rate by 35 bps, Indiabulls Housing Fin dips 13%
  • Jammu & Kashmir Bank shares locked in 20% upper circuit##Jammu & Kashmir Bank shares locked in 20% upper circuit

    Shares of Jammu & Kashmir Bank were locked at 20 percent upper circuit on Wednesday a day after reports made rounds that the government is looking at options to strengthen the Srinagar-based lender.

  • Cummins' Q1 net profit of Rs 152.3 crore 15.4% less than CNBC-TV18 poll##Cummins' Q1 net profit of Rs 152.3 crore 15.4% less than CNBC-TV18 poll

  • Amid market selloff, foreign investors quietly double up on life insurance bets##Amid market selloff, foreign investors quietly double up on life insurance bets


    Foreign portfolio investors (FPIs) have sold over Rs 16,000 crore in Indian equities after Finance Minister Nirmala Sitharaman raised the surcharge tax for the super-rich in the Union Budget. But the equity market selloff did not deter FPIs from raising their stakes in life insurance companies. The FPI stakes in the three major insurance companies have doubled in the last one year. READ MORE

  • Yes Bank shares jump 8% over report lender may raise funds##Yes Bank shares jump 8% over report lender may raise funds


    Yes Bank shares rose nearly 8 percent to Rs 92 per share on Wednesday following a report the lender is likely to raise funds through qualified institutional placement soon. The private sector lender's shares have surged in the last two days, rising almost 12 percent during the period. READ MORE

  • RBI monetary policy LIVE: MPC cuts repo rate by 35 bps to 5.40%
    The Reserve Bank of India will announce its monetary policy decision on Wednesday after a three-day meeting.
    Closing Bell: Sensex ends below 36700, Nifty at 10855 after RBI cuts repo rate by 35 bps, Indiabulls Housing Fin dips 13%
  • Valuations for India have become a lot more attractive, says Credit Suisse##Valuations for India have become a lot more attractive, says Credit Suisse


    Credit Suisse has upgraded Indian equities to 'overweight' from 'market weight'. Dan Fineman, co-head of equity strategy for the Asia Pacific region at Credit Suisse, shared the rationale behind the upgrade. "India may be a relative outperformer rather than producing a strong positive return," Fineman said in an interview with CNBC-TV18. “We are quite cautious on the region as a whole for the second half of the year. Valuations for the region as a whole are no longer cheap as they were,” he added. READ MORE

  • Nifty levels do not indicate if the market has bottomed out, says Emkay Global##Nifty levels do not indicate if the market has bottomed out, says Emkay Global

    Krishna Kumar Karwa, MD at Emkay Global Financial Services, spoke to CNBC-TV18 about the market fundamentals. "The numbers do not suggest that the worst for the market is yet behind us although we have had a deep correction," Karwa said on Wednesday. READ MORE

  • Analysis: Why it is still a divided house at IndiGo
    The rift in IndiGo is no longer limited to its two promoters, it has now spread to other board members as well with the latest disagreement emerging between the chairman of the board M Damodaran and co-founder Rakesh Gangwal.Get latest Aviation online at cnbctv18.com
    Closing Bell: Sensex ends below 36700, Nifty at 10855 after RBI cuts repo rate by 35 bps, Indiabulls Housing Fin dips 13%
  • Indiabulls Housing Finance shares plunge over 8% after poor June quarter results##Indiabulls Housing Finance shares plunge over 8% after poor June quarter results


    Shares of Indiabulls Housing Finance slipped 8.54 percent intraday on Wednesday after the company reported disappointing first-quarter earnings of the fiscal year 2020. At 09:37 AM, the share price of Indiabulls Housing Finance fell 7.91 percent to Rs 473.40 per share on the NSE. Intraday, the stock price plunged 8.54 percent to its day's low at Rs 470.10. READ MORE

  • Stock market in a bear phase: What should portfolio investors do?##Stock market in a bear phase: What should portfolio investors do?


    It has been a crunching fall on Dalal Street. And while the broad market was in a bear phase for almost a year, the last three months have seen price damage in the hallowed stocks—the Bajaj twins, the HDFC twins, Reliance, Titan, Havells. The list is actually pretty long.

    The obvious question is what is leading to this decline and what should portfolio investors do. As a disclaimer, I have investments in midcap and multicap funds via systematic investment plans (SIPs) which I have not stopped and do not intend to. READ MORE

  • Sharp surge in Yes Bank shares on reports of Rs 2000 crore QIP##Sharp surge in Yes Bank shares after reports of Rs 2000 crore QIP

  • Gold hits fresh multi-year high as trade conflict drags##Gold hits fresh multi-year high as trade conflict drags

    Gold prices touched a more than six-year high on Wednesday, as the trade war between China and the United States showed no signs of abating, boosting the appeal of safe-haven assets. Spot gold jumped 0.9 percent to $1,486.41 per ounce as of 0318 GMT. Earlier in the session, it touched $1,489.76 per ounce, its highest since April 2013. US gold futures too were up 0.9 percent at $1,497.90 an ounce. 

    “Trade wars are the catalyst for the latest gains. Increasingly fiery rhetoric out of Washington and Beijing is fuelling worries that the conflict will amount to a longer-term headwind for global growth,” Ilya Spivak, senior currency strategist with DailyFx said.

  • Titan shares down as company indicates slowdown in jewellery demand##Titan shares down as company indicates slowdown in jewellery demand

    Titan Company’s shares fell 4.65 percent to hit a six-month low of Rs 998 after the company, in a post-earnings conference call, indicated that demand for jewellery has slowed down since the second half of June and has remained sluggish in July. The jewellery segment contributes a major chunk to Titan's overall revenues. In the quarter ended June, jewellery sales grew 13 percent on year, which was below the company's overall growth guidance of 20 percent on year. At 10.12 am, shares quoted at Rs 1009.05, still down by 3.6 percent.

  • Sebi plans Rs 1 crore reward, hotline access for informers of insider trading##Sebi plans Rs 1 crore reward, hotline access for informers of insider trading


    Any inside information on insider trading in the stock market can get the informant a reward of up to Rs 1 crore from Sebi, a hotline for sharing details to ensure confidentiality and a possible amnesty or settlement for minor wrongdoings in return for cooperation in the probe. Capital market regulator Sebi has prepared a detailed set of rules for a new 'Informant Mechanism' under its Prohibition of Insider Trading (PIT) Regulations and it would be presented for its board's approval later this month, officials said. READ MORE

  • Indiabulls Housing Finance, Titan, Tata Steel, slipped by up to 4 percent##Indiabulls Housing Finance, Titan, Tata Steel, slipped by up to 4 percent

  • Opening Bell: Sensex, Nifty start flat ahead of RBI policy decision, Titan, Indiabulls Housing Fin, Tata Steel top losers##Opening Bell: Sensex, Nifty start flat ahead of RBI policy decision, Titan, Indiabulls Housing Fin, Tata Steel top losers

    The BSE Sensex dipped 28.58 points, or 0.08 percent, to 36948 in initial trade, while the Nifty was down almost 16 points, or 0.15 percent, to 10932.40. The Nifty MidCap index outperformed, rising 0.22 percent, while the banking gauge, Nifty Bank, slipped 0.15 percent. Among sectoral gainers, IT, infra and energy indexes advanced while consumer durables, metal, telecom and auto were under pressure. Zee Entertainment Enterprises, Yes Bank, Cipla, Bajaj Finance and IndusInd Bank surged by up to 3 percent in early trade. Indiabulls Housing Finance, Titan, Tata Steel, Bharti Infratel and Axis Bank slipped by up to 4 percent. 

  • Rupee opens at 70.96 against the US dollar##Rupee opens at 70.96 against the US dollar

  • M&M Q1 results: Weak volume growth in auto, tractor segments; management guidance in focus##M&M Q1 results: Weak volume growth in auto, tractor segments; management guidance in focus

    Here are the key things to watch out for:
    -Volume growth was weak both in auto and tractor segment
    -Overall volumes (RD) 9 percent YoY, (RD) 7 percent QoQ at 2.18 lakh units
    -Utility vehicle volumes (RD) 5.9 percent; Farm equipment (RD) 14.3 percent (YoY)
    -Farm equipment margins down for 3 consecutive quarters; More pressure expected. READ MORE

  • Top brokerage calls for August 7: CLSA, Credit Suisse cut price targets on Titan; UBS bullish on Pidilite##Top brokerage calls for August 7: CLSA, Credit Suisse cut price targets on Titan; UBS bullish on Pidilite


    Macquarie on JSW Energy: The brokerage maintained 'underperform' rating on the stock with a target price of Rs 59 per share. The brokerage reduced FY20 earnings on lower profit in its hydro assets, but raised FY21 earnings by 28 percent on higher utilisation and lower coal prices.

    BofAML on Hindalco: The brokerage maintained 'buy' call on the stock but cut its target price to Rs 295 per share from Rs 290 earlier.  It sees Novelis profit at a record high.

    Click or tap for more brokerage calls for today