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Closing Bell: Sensex, Nifty end marginally lower, MidCaps drag indexes, bank shares dip, IT gains, Infosys up ahead of Q1 result

Closing Bell: Sensex, Nifty end marginally lower, MidCaps drag indexes, bank shares dip, IT gains, Infosys up ahead of Q1 result

Closing Bell: Sensex, Nifty end marginally lower, MidCaps drag indexes, bank shares dip, IT gains, Infosys up ahead of Q1 result
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Summary

Indian markets ended in the red albeit marginally lower on Friday dragged by MidCap. The Sensex and the Nifty opened in the green on Friday tracking Asian peers with the BSE Sensex crossing the 36,700 mark for the first time. The 30-share S&P index ended at 36,541, while the 50-share broader NSE Nifty 50 ended above 11,000 mark. Infosys shares rose ahead of the Q1 results later in the day. Here are the main highlights from the markets today:

Live Updates

Closing Bell: Sensex, Nifty end in the red##Closing Bell: Sensex, Nifty end in the red

Indian stock markets closed marginally lower, with the BSE Sensex ending at 36,541, down by 0.02 percent, or 6.78 points lower, while the Nifty 50 ended at 11,018. MidCaps dragged both indexes lower with the Nifty MidCap declining by over a percent. ITC, ICICI Bank and Axis Bank were among top losers.

Jul 13, 2018 3:44 PM

Infosys surges ahead of Q1 results##Infosys surges ahead of Q1 results

Jul 13, 2018 3:29 PM

HCL Technologies drops most in nearly 7 weeks##HCL Technologies drops most in nearly 7 weeks

Shares of software services exporter HCL Technologies Ltd fall as much as 2.4 percent to Rs 982, marking their biggest intraday percent loss since May 28. Stock on track to snap a 6-day winning streak after the company on Thursday approved buyback of up to 36.4 million shares at a price of Rs 1,100 per share. Buyback price is at a 14 percent premium to its price pre-announcement and is tad lower than premiums in recent buybacks in the sector, says CLSA. Assuming a yield on cash of about 7 percent, Morgan Stanley says it expects the buyback to be largely neutral to FY19 EPS. Out of the 46 analysts covering HCLT, 30 have a “buy” or higher rating, 11 “hold” and the remaining 5 “sell”; median TP at Rs 1,052. Stock has risen nearly 13 percent this year as of last close. (From Reuters)

Jul 13, 2018 3:20 PM

Zee Entertainment sinks to 8 month low; chart signals more downside##Zee Entertainment sinks to 8 month low; chart signals more downside

Zee Entertainment Enterprises Ltd’s shares fall as much as 1.99 percent to Rs 523, their lowest since November 10, 2017. ZEEL stock breaks below a support at Rs 535.2, the 14.6 percent Fibonacci retracement level of the uptrend from March 12, 2009 to January 29, 2018 high, suggesting the stock may fall to the next support at Rs 483.6, the 23.6 percent retracement level. Stock’s 50-day exponential moving average (EMA) broke below its 200-day EMA this week, forming a death cross, a bearish sign. RSI line has seen resistance near the 60 level over the past 2-1/2 months, seen bearish for the stock. MACD is negative and below its signal line. ZEEL stock is down 8.3 percent this year as of its last close while the broader NSE Index is up 4.7 percent in the same period. (From Reuters)

Jul 13, 2018 3:15 PM

Wipro gains the most in 6-months; chart suggests further upside##Wipro gains the most in 6-months; chart suggests further upside


Shares of Wipro Ltd rise as much as 3.7 percent, their biggest intraday gain since January 16, breaking above a resistance at Rs 284.36, the 38.2 percent Fibonacci retracement level of the uptrend from November 9, 2016 low to January 16, 2018 high. The IT company also broke above its 200-day exponential moving average on Thursday. The stock’s wave pattern suggests the end of a corrective cycle and that it is in the initial wave 1 of a five wave uptrend. Trend Intensity (TI) indicator rises to 21, confirms prices are trending upwards, MACD is also positive and above its signal line. The five-day average volume is 25 percent higher than the 30-day average, seen favorable for the stock. Wipro stock is down 11.1 percent this year as of its last close, while the broader NSE Index is up 4.7 percent in the same period. (From Reuters)

Jul 13, 2018 3:11 PM

Market update: Sensex, Nifty under pressure in the last hour of trading##Market update: Sensex, Nifty under pressure in the last hour of trading

Benchmark indexes trade marginally higher amid selling pressure in bank, auto, consumer counters. The BSE Sensex was trading marginally higher by over 15.43 points, or just 0.04 percent above, to 36,563.84, while the NSE Nifty 50 traded at 11,019.85, down by 3.35, or lower by 0.03 percent at 2.45pm. 

Jul 13, 2018 2:50 PM

Multiplex stocks down over reports of Maharashtra govt allowing food inside cinema halls##Multiplex stocks down over reports of Maharashtra govt allowing food inside cinema halls

Jul 13, 2018 2:47 PM

Oil & Gas stocks gain, Reliance market cap crosses Rs 7 lakh crore##Oil & Gas stocks gain, Reliance market cap crosses Rs 7 lakh crore

Jul 13, 2018 1:35 PM

Cyient drops to over 2-week low on tepid Q1 results##Cyient drops to over 2-week low on tepid Q1 results

Cyient Ltd shares falls as much as 5.25 percent to Rs 703.05, its lowest since June 25. The technology firm reported a 6 percent fall in consolidated profit on Thursday. Cyient’s Q1 result missed IDBI Capital analysts forecast. IDBI Capital cut their FY19 EPS (estimate) by 3 percent and largely maintain FY20 EPS; It maintains price target of Rs 889 and “buy” rating. IDBI Capital believes pick-up in revenue growth would drive improvement in EBIT margin from Q2 FY19 onwards. Cyient stock posts biggest intraday fall since June 4; up 27.2 percent this year, as of last close. On Friday, over 449,000 shares change hands compared with 30-day average of 282,952 shares. (From Reuters)

Jul 13, 2018 1:33 PM

Highlights of Hindalco MD Satish Pai's interaction with CNBC-TV18##Highlights of Hindalco MD Satish Pai's interaction with CNBC-TV18

Jul 13, 2018 1:18 PM

Market update: Sensex, Nifty trade higher##Market update: Sensex, Nifty trade higher


The BSE Sensex hovers around 36,600 mark, while the Nifty holds on to 11,000. The Sensex traded higher by nearly 50 points, or 0.14 percent, to 36,598.28, while the Nifty 50 rose marginally higher by 5.58 points, or 0.05 percent, to 11,029.05. Top gainers include Infosys, Reliane, Wipro, Adani Ports, Coal India, while the laggards were Axis Bank, SBI, ICIC Bank, ONGC, ITC, Grasim, Zee Entertainment, UPL, Bharti Infratel. Nifty MidCap trades lower by nearly a percent, while BSE MidCap has declined by nearly 0.6 percent. On the BSE, only Energy, Information Technology, Consumer Durables, Oil & Gas, Teck were trading in the positive zone among sectoral indices, while Metal traded flat. At 2.26 percent, PSU Bank declined the most among NSE sectoral incides, followed by Media (1.48 percent), Realty (1.14 percent), FMCG (1.18 percent). Only Nifty Fin Service and IT traded positive, but below half a percent.

Jul 13, 2018 1:10 PM

Market update: Sensex, Nifty consolidate##Market update: Sensex, Nifty consolidate

The BSE Sensex trades at 36,624.45, higher by 76.04 points, or 0.21 percent, while the NSE Nifty 50 trades at 11,031.35, up by 8.15 points, or 0.07 percent at 12.15am.

Jul 13, 2018 12:19 PM

Adani Ports EBITDA margin expected to rise by at least 100 bps in FY19##Adani Ports EBITDA margin expected to rise by at least 100 bps in FY19

Jul 13, 2018 12:12 PM

HCC dips nearly 5%, Anisha Jain explains why##HCC dips nearly 5%, Anisha Jain explains why

Hindustan Construction Co. Ltd (HCC) trades nearly 5% lower as no clarity emerged on resolution of Lavasa project in the AGM yesterday. While the company declined to provide resolution timeframe on Lavasa , Ajit Gulabchand told shareholders that Lavasa’s current outstanding debt is Rs 6,500-7,000 crore.

“It is a stalled project. We are in talks with banks and potential investors to arrive at a resolution. I cannot say by when this process will be complete,” he said.

Lavasa was the pet project for HCC which was conceived in 2000 but could not be completed due to various regulatory and funding issues. In fact, just weeks ago company’s auditors had raised red flag on the ‘going concern’ ability of Lavasa.

Lavasa reported a net loss of Rs 682 crore for FY18, against a loss of Rs 166 crore a year earlier and had defaulted on dues payable to bondholders and delayed repayment to other creditors, including banks.

As per reports; the company’s lenders include Union Bank of India, Punjab National Bank, Corporation Bank, UCO Bank, Canara Bank, Oriental Bank of Commerce, The Karnataka Bank, Bank of India and Bank of Baroda.

HCC shares were trading at Rs 11.26, declining by 4.90 percent on the BSE at 11.40am.

Jul 13, 2018 11:41 AM

88.41 lakh shares of AU Small Finance exchange hands on NSE##88.41 lakh shares of AU Small Finance exchange hands on NSE 

Jul 13, 2018 11:20 AM