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This article is more than 2 year old.

Closing Bell: Sensex falls 624 points, Nifty holds 10,900 as financials, auto shares drag indexes, RIL ends 9.3% up, HDFC dips 5%

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Market Close: Indian benchmark equity indices, the BSE Sensex and NSE Nifty50, ended sharply lower on Tuesday, amid weak global sentiment and dragged by selling in financials and auto shares. Overall trade sentiment remained weak, in-line with global cues as concerns over US-China trade war, Hong Kong protests and Argentina crisis persisted.  Bank, consumer and IT stocks offset gains from Reliance Industries, which ended over 9 percent a day after its 42nd AGM. Here are the main highlights from the stock markets today:

Closing Bell: Sensex falls 624 points, Nifty holds 10,900 as financials, auto shares drag indexes, RIL ends 9.3% up, HDFC dips 5%
  • Here's a quick round-up of what happened in the markets today##Here's a quick round-up of what happened in the markets today

    -Market erases gains of last two days, posts biggest single-day fall in a month.

    -Sensex back below 37,000 and Nifty 11,000 after two trading sessions.

    -Nifty Midcap index down 346 points and Nifty Bank 703 points.

    -Reliance Industries’ single-day trading volume and gain, biggest in a decade.

    -Reliance lifts nifty by nearly 100 points while HDFC Twins, Infosys, ITC drag.

    -Reliance Industries adds nearly Rs 70,000 crore to its market cap today.

    -Over 80 percent of the Nifty fall is contributed by financials and IT.

    -45 of 50 Nifty stocks close with cuts; Yes Bank and Bajaj Fin top losers.

    -Yes Bank at fresh 5-year low, down more than 10 percent today.

    -Indiabulls Housing Finance posts biggest ever single-day gain and up over 30 percent in 2 sessions.

    -Sun Pharma surges nearly 4 percent after reporting better-than-expected earnings.

  • Market erases gains of last two days, posts biggest single-day fall in a month##Market erases gains of last two days, posts biggest single-day fall in a month

  • Closing Bell: Sensex ends over 600 points lower, Nifty holds 10,900, RIL ends 9% up##Closing Bell: Sensex ends over 600 points lower, Nifty holds 10,900, RIL ends 9% up

    Indian shares ended lower on Tuesday, dragged lower by banking and auto stocks, as investors remained wary in the absence of an announcement about a government fiscal stimulus package to curb slowdown and rollback of FPI surcharge, ahead of key inflation data. The Sensex ended 624 points down at 36,958, while the broader Nifty50 index lost 184 points to end the day at 10,926. In broader markets, the Nifty Midcap fell 2.2 percent and Nifty Smallcap index tanked 1.6 percent. Indiabulls Housing, Reliance Industries, GAIL, Sun Pharma, and Zee were top gainers on the Nifty50 while YES Bank, Bajaj Finance, M&M, Bajaj Finserv, and Eicher Motors led the losses. All sectoral indices ended with the Nifty Auto index falling the most, down 4 percent, followed by banking indices. Nifty Bank, Nifty PSU Bank, and Nifty Private Bank declined around 2.5 percent each. Nifty IT lost 2.5 percent and Nifty Fin Services slipped 3 percent for the day. Indiabulls Housing Finance surged 14 percent after it received a public apology from law firm Managium Juris LLP for filing a petition against the housing finance company with false and sensational allegations related to the merger with Lakshmi Vilas Bank. Meanwhile, Reliance Industries rose nearly 10 percent, its biggest gain in over a decade, after it also announced a $15 billion sale of a 20 percent stake in its oil-to-chemicals arm to Saudi Aramco and plans to become a zero net debt company in 18 months.

  • Sun Pharma posts Q1 net profit of Rs 1,387.5 crore Vs CNBC-TV18 poll of Rs 1,052.6 crore##Sun Pharma posts Q1 net profit of Rs 1,387.5 crore Vs CNBC-TV18 poll of Rs 1,052.6 crore

  • See huge scope for private sector banks to gain market share, says UR Bhat of Dalton Cap##See huge scope for private sector banks to gain market share, says UR Bhat of Dalton Cap

    UR Bhat, director at Dalton Cap Advisors, shared his views on the fundamentals of the market and specific stocks. Bhat expects the market to be range-bound with a negative bias. “There is no good news coming from anywhere. On the trade front, between the US and China, the temperature seems to be going up."


    “On the domestic front, there are indications that things will happen, but something needs to be announced and implemented whether it is on the taxation front or on giving a fillip to the industry. All these things are yet to be seen; I think the noises are right, but I think till that happens the market will be circumspect,” Bhat said. READ MORE

  • Rakesh Jhunjhunwala: Feel that India does not have 10% GDP growth rate model as of now##Rakesh Jhunjhunwala: Feel that India does not have 10% GDP growth rate model as of now

  • PVR, Inox voice concerns over RIL's 'first day, first show' plan##PVR, Inox voice concerns over RIL's 'first day, first show' plan


    Shares of PVR Cinemas fell over 8 percent to Rs 1,345.25 per share while Inox shares were down 10 percent at Rs 270.95 per share. At 9:40 AM, the broader index Nifty50 index was down 0.45 percent. READ MORE

  • Telecom stocks under pressure post Reliance Jio announcements; Airtel falls 6%, Vodafone Idea tanks 10%##Telecom stocks under pressure post Reliance Jio announcements; Airtel falls 6%, Vodafone Idea tanks 10%

    Telecom stocks were under pressure on Tuesday following Reliance Jio announcements. While Bharti Airtel fell as much as 6.6 percent in intraday-deals, Vodafone Idea tanked 10 percent after Mukesh Ambani chalked Jio's future plans at the AGM.

    Ambani talked about getting in financial and strategic investors in a few quarters now and a listing in the next five years. The subscriber base has hit 340 million and the company believes that 500 million is well within its grasp. READ MORE

  • Bosch Q1 numbers fall on all fronts on a yearly basis; net profit slips 35% & EBITDA falls 23%##Bosch Q1 numbers fall on all fronts on a yearly basis; net profit slips 35% & EBITDA falls 23%

  • CNBC-TV18 Exclusive: Rakesh Jhunjhunwala says not very happy with the state of stock market##CNBC-TV18 Exclusive: Rakesh Jhunjhunwala says not very happy with the state of stock market

    Ace stock market investors Rakesh Jhunjhunwala said he is not very happy with the current state of the market. "Every bank is shy to lend corporates. This reluctance can be overcome by capitalizing banks & flushing the system with liquidity," said Jhunjhunwala in an interview with CNBC-TV18. He said the economic slowdown was accentuated by the ongoing crisis in the non-banking financial companies. READ MORE

  • This Nifty index has jumped 60% in three years and 308% in 10 years##This Nifty index has jumped 60% in three years and 308% in 10 years


    If you're looking for a long-term bet then the Nifty Finance index is for you as it has delivered the highest returns amongst all its peers in the last 10 years. In the last three years, Nifty Finance has risen 60.50 percent while in 5 years, the index jumped to 99.14 percent and in 10 years, it gave returns of 308.18 percent. Another sectoral index that rose alongside Nifty Finance is the Nifty FMCG, which saw 342 percent gains in the last 10 years and about 29 percent returns in the last 3 years. READ MORE

  • Sensex down 250 points, Nifty below 11,050 dragged by auto, banks##Sensex down 250 points, Nifty below 11,050 dragged by auto, banks

    The BSE Sensex was down 260.11 points, or 0.69 percent, at 37,321.80. The Nifty50 traded 77.10 points, or 0.69 percent, lower at 11,032.55. The Nifty midcap index fell 1.37 percent, while the Smallcap index was down 0.88 percent.

    Among the sectoral indices on the NSE, auto fell nearly 2.5 percent followed by financial services and FMCG, which declined nearly 2 percent. IT and banking were down around 1.5 percent. Energy was up over 3 percent led by Reliance Industries, which advanced over 11 percent.

  • JB Chemical Q1 net profit rises 36%, shares traded higher##JB Chemical Q1 net profit rises 36%, shares traded higher

    JB Chemical and Pharma reported a 36 percent rise in its net profit to Rs 62 crore for the quarter ended June 30. Shares traded 0.3 percent up at Rs 373.20 per share.

  • 1000% in 10 years! These largecap stocks remained safe bets for investors
    Despite global concerns and domestic slowdown, largecap stocks have remained safe bets for investors over the years.
    Closing Bell: Sensex falls 624 points, Nifty holds 10,900 as financials, auto shares drag indexes, RIL ends 9.3% up, HDFC dips 5%
  • Law firm issues apology to Indiabulls Housing Finance over false suit, shares jump 14%##Law firm issues apology to Indiabulls Housing Finance over false suit, shares jump 14%


    Indiabulls Housing Finance on Tuesday received a public apology from law firm Managium Juris LLP for filing a petition against the housing finance company with false and sensational allegations related to the merger with Lakshmi Vilas Bank.

    In the press release, Managium Juris said, “We came across a public disclosure made by Indiabulls Housing Finance Ltd regarding their plans to merge with Lakshmi Vilas Bank. Sensing this as a delicate and critical phase for the company and therefore an opportunity for the clients to exert pressure and with a view to sensationalize the matter certain scathing allegations were made by them in the petition involving huge numbers against the company and its officials.” READ MORE

  • Yes Bank slumps more than 13% from day's high##Yes Bank slumps more than 13% from day's high

  • Passenger vehicle sales fall for 9 consecutive months, drop 31% in July##Passenger vehicle sales fall for 9 consecutive months, drop 31% in July

    The country's domestic passenger vehicle sales fell for the ninth straight month in July, an auto industry body said on Tuesday, amid a deepening crisis in the country's automobile sector that has triggered large-scale job losses. The domestic passenger vehicle (PV) sales dropped 30.98 percent to 2,00,790 units in July, from 2,90,931 units in the same period a year ago. Domestic car sales were down 35.95 percent at 1,22,956 units as against 1,91,979 units in July 2018, according to data released by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday. READ MORE

  • Narayana Hrudayalaya up 10%, posts consolidated net profit Rs 30.25 crore##Narayana Hrudayalaya up 10%, posts consolidated net profit Rs 30.25 crore

    Shares of Narayana Hrudayalaya rose nearly 10 percent to hit a one-month high of 235.95 rupees as the company posted a consolidated net profit of Rs 30.25 crore in April-June compared with a Rs 4.22 crore loss a year ago. The company's revenue from operations for the quarter rose 19.2 percent to Rs 777 crore. Operating margin expanded to 13.22 percent in April-June from 7.27 percent a year ago. So far today, 421,626 shares of the company changed hands on NSE, higher than the three-month daily average of 88,808 shares. At 12.14 pm, shares of Narayana Hrudayalaya were up over 6 percent at Rs 228.50.

  • Pidilite Industries shares up a percent on JV with Spanish company##Pidilite Industries shares up a percent on JV with Spanish company


    Pidilite Industries Limited and Spain’s Corporacion Empresarial Grupo Puma S.L. (Grupo Puma) enter into joint venture for Technical Mortars. Pidilite Industries ltd shares quoted at Rs 1363.50, up 0.87 percent on NSE at 11.54 am. 

  • Popular brands help pharma majors post robust India business growth in Q1FY20##Popular brands help pharma majors post robust India business growth in Q1FY20


    The first quarter of FY20 seems to be showing a positive trend for the India business of pharmaceutical companies that have reported numbers till now. Barring the likes of Cipla that was impacted due to restructuring in its trade generics segment, most companies have shown 8-9 percent growth. For example, Lupin, which gets 30 percent of its sales from India, saw revenues rise 9.7 percent to Rs 1,307 crore versus last year. Similarly, Torrent Pharma that had Unichem’s portfolio integrated into its domestic business saw sales grow 9 percent year on year (YoY) to Rs 907 crore. Similarly, Eris Life, that gets 100 percent of sales from India, saw its sales grow 9.4 percent YoY to Rs 274 crore. READ MORE

  • Reliance Industries set for the biggest one-day gain in a decade##Reliance Industries set for the biggest one-day gain in a decade

  • Tata Motors up 2% as JLR China Jul sales jump 40% on year##Tata Motors up 2% as JLR China Jul sales jump 40% on year

    Shares of Tata Motors gained 2 percent and was at Rs 124.35 as retail sales of the company's arm Jaguar Land Rover surged 40 percent on year in the key market of China in July. Shares quoted at Rs 125.60, up almost 3 percent on NSE.

  • Global gold prices hit six-year peak on risk-off sentiment##Global gold prices hit six-year peak on risk-off sentiment


    Gold prices scaled their highest in more than six years on Tuesday, as concerns around protests in Hong Kong and an Argentine currency crash amid fears of global economic slowdown, prompted investors to move away from riskier assets. Spot gold rose 0.3 percent to $1,515.32 per ounce as of 0334 GMT, after hitting its highest since April 2013 at $1,518.03. US gold futures rose 0.6 percent to $1,526.90 an ounce. READ MORE

  • Cigarette maker Godfrey Phillips shares jump 20% after stellar Q1 earnings##Cigarette maker Godfrey Phillips shares jump 20% after stellar Q1 earnings

    Shares of Godfrey Phillips were locked in the upper circuit on Tuesday after the cigarette maker posted a two-fold jump in its June-quarter profit. The company reported a consolidated profit of Rs 118.42 crore in the three months ended June 30 from Rs 57.31 crore in the year-ago period. Godfrey Phillips' consolidated income during the April-June quarter increased to Rs 858.49 crore from Rs 612.56 crore in the year-ago quarter. READ MORE

  • Bharat Forge reports earnings for April-June quarter below estimates##Bharat Forge reports earnings for April-June quarter below estimates

  • PVR, Inox voice concerns over RIL's 'first day, first show' plan##PVR, Inox voice concerns over RIL's 'first day, first show' plan


    Multiplex majors PVR and Inox have voiced concerns over Reliance Industries Ltd's proposed plan of bringing 'first-day first show' movies on its Fibre powered set-top box. RIL's proposed plan, announced at the company's 42nd Annual General Meeting by chairman Mukesh Ambani on Monday, will be launched in the middle of 2020 for its premium Jio Gigafiber customers.

    Commenting on the plan, PVR Cinemas in an exchange filing said, "For decades, the theatrical release window has been a valuable model for exhibitors and producers alike. In India and globally, producers have respected the release windows and kept a sacrosanct gap between the theatrical release date & the date of release on all other platforms, i.e. DVD, DTH, TV, OTT etc." READ MORE

  • RIL shares surge on Saudi Aramco deal, zero-net debt plan##RIL shares surge on Saudi Aramco deal, zero-net debt plan


    Shares of Reliance Industries (RIL) rallied nearly 9 percent on Tuesday following big bang announcements by Chairman and Managing Director Mukesh Ambani at its 42nd annual general meeting (AGM) held on August 12. Deal with Saudi Aramco, commitment to become a net zero debt company, plans of listing Jio and Reliance Retail and rapid growth in the consumer business were some of the major announcements at the AGM yesterday. The stock gained as much as 8.8 percent to Rs 1,265 per share on BSE. At 9:20 AM, the stock was trading 7.4 percent higher at Rs 1,241 as compared to 0.36 percent (134 points) fall in BSE Sensex at 34,448. READ MORE

  • Reliance up over 8% as company targets to become zero net-debt co in next 18 months##Reliance up over 8% as company targets to become zero net-debt co in next 18 months

  • NTPC along with M&M, HDFC are among top Nifty losers in opening trade##NTPC along with M&M, HDFC are among top Nifty losers in opening trade

  • Opening Bell: Sensex, Nifty edge lower, Reliance Industries jumps 9%##Opening Bell: Sensex, Nifty edge lower, Reliance Industries jumps 9%


    Indian shares edged lower, giving up marginal opening gains on Tuesday, tracking weak global sentiments. The BSE Sensex dropped 117 points, or 0.31 percent, to 37465 in initial trade. The NSE Nifty50 slipped 33 points, or 0.30 percent, to 11077. The Nifty MidCap index was down by half a percent. The banking gauge, Nifty Bank dipped a percent, while all other notable sectors like FMCG, IT, bank, auto, metal, pharma and infra traded in the red. Energy indices were up as Reliance Industries surged over 8 percent after the conglomerate's 42nd AGM on Monday. Gail India, BPCL, Yes Bank, Indiabulls Housing, Zee Entertainment, Tata Motors were among major index gainers, while losers included NTPC, Bharti Airtel, Britannia Industries, Vedanta, M&M, Power Grid, HDFC, JSW Energy, HUL, Tech Mahindra, Inox, PVR and Dish TV. READ MORE

Market Close: Indian benchmark equity indices, the BSE Sensex and NSE Nifty50, ended sharply lower on Tuesday, amid weak global sentiment and dragged by selling in financials and auto shares. Overall trade sentiment remained weak, in-line with global cues as concerns over US-China trade war, Hong Kong protests and Argentina crisis persisted.  Bank, consumer and IT stocks offset gains from Reliance Industries, which ended over 9 percent a day after its 42nd AGM. Here are the main highlights from the stock markets today: