Teh Indian benchmark equity indices ended over a percent lower each Monday amid weak global cues as concerns over the rising Delta variant of coronavirus dampened sentiment.
The Sensex plunged 586.66 points, or 1.10 percent, to 52,553.40, while the Nifty ended 171.00 points, or 1.07 percent, lower at 15,752.40. Among broader indices, the midcap index closed lower, while the smallcap index ended flat.
On the sectoral front, barring Nifty Realty and Nifty Pharma, all other indices ended in the red with private banks, metals, financial services, auto and PSU Banking indices falling the most.
Here are key stocks that moved the most on July 19
Shares of Adani Group companies declined after the government informed the Parliament that the Securities & Exchange Board of India (Sebi) and customs authorities are investigating some Adani Group companies for non-compliance with rules.
Adani Enterprises, Adani Ports & SEZ, Adani Total Gas, Adani Transmission, Adani Power and Adani Green Energy all fell over 2-4 percent each.
Minister of State (MoS) finance Pankaj Chaudhary said the capital market regulator was investigating some of the Adani Group companies with regards to non-compliance with Sebi regulations. Further, he also told Parliament that the Directorate of Revenue Intelligence was investigating certain entities belonging to the Adani Group under laws administered by it.
Banking and financial stocks witnessed heavy selling pressure on Monday with the Nifty Bank index falling over two percent. Banking heavyweights such as HDFC twins, ICICI Bank, Kotak Mahindra Bank, Axis Bank, and SBI led the losses, falling over one to two percent each, which dragged the equity benchmarks lower. The sentiment was dampened after HDFC Bank reported June quarter earnings below street estimates.
Further, a surge in the Delta variant of coronavirus and fears of local lockdowns resurfaced concerns over the asset quality of the banks.
The share price of HDFC Bank fell over three percent after the private lender reported below estimates earnings for the quarter ended June 2021. The bank posted a standalone net profit of Rs 7,729.64 crore in Q1FY22, a growth of 16.1 percent from Rs 6,658.62 crore in Q1FY21.
GR Infraprojects made a strong debut on the bourses as the shares were listed at Rs 1,715.8 apiece on the National Stock Exchange, a premium of 105 percent to the issue price of Rs 837 per share. The stock ended over 1 percent higher than the listing price at Rs 1,737.95.
Shares of Clean Science and Technology got listed with a premium of 98.27 percent at Rs 1,784.40 apiece on the BSE Monday as against the issue price of Rs 900 per share. However, the shares closed closed at Rs 1,585.20, down 11.16 percent from its listing price, but 76.13 percent higher than the issue price.