0

0

0

0

0

0

0

0

0

This article is more than 2 year old.

Closing Bell: Indices end positive led by auto, financials, Sensex up 277 points, Nifty near 10950, DHFL soars 32%

Mini

Indian shares ended higher on Tuesday, led by value buying in financial and auto stocks. Heavyweights ICICI Bank, HDFC and Kotak Bank were the top contributors on the benchmark S&P BSE Sensex index. The Sensex ended 277 points higher at 36,977 while the broader Nifty50 index added 86 points to end the day at 10,948. In broader markets, the Nifty Midcap and Nifty Smallcap index advanced 2 percent each. Here are the main highlights from the stock markets today:

Closing Bell: Indices end positive led by auto, financials, Sensex up 277 points, Nifty near 10950, DHFL soars 32%
  • Here's a quick round-up of what has so far happened in the markets today##Here's a quick round-up of what has so far happened in the markets today

    -Nifty fails to hold 11,000, but posts the biggest one-day gain in 2 months. Sensex gains nearly 300 points to post the best trading session in a month.

    -Midcap Index and Nifty Bank snap 3-day losing streak. Midcap Index and Nifty Bank up over 300 points, biggest 1-day gain in third and second month, respectively.

    -Financials contribute over 60 percent to the Nifty gain; HDFC twins top gainers. TCS, Reliance, ZEEL and Cipla underperform.

    -All Nifty Bank constituents end the session with gains, ICICI bank top gainer.

    -Titan slips 3 percent from highs but closes with minor gains after Q1 earnings.

    -Except Media, Energy & IT, all sectoral indices end higher with realty gaining the most.

    -Yes Bank snaps three-day losing streak to end the session 5 percent higher.

    -DHFL snaps nine-day losing streak to post the biggest ever single-day gain.

  • Sensex heatmap at close: Yes Bank, TechM top gainers, PowerGrid, TCS top losers##Sensex heatmap at close: Yes Bank, TechM top gainers, PowerGrid, TCS top losers

    Closing Bell: Indices end positive led by auto, financials, Sensex up 277 points, Nifty near 10950, DHFL soars 32%
  • Top mutual fund schemes in terms of returns and performance in July
    The Indian stock market has been going through a tough time after the government's Budget proposals such as higher tax on FPIs and a buyback tax have disappointed investors.
    Closing Bell: Indices end positive led by auto, financials, Sensex up 277 points, Nifty near 10950, DHFL soars 32%
  • Closing Bell: Auto, financial stocks lift indices; Sensex up 277 points, Nifty at 10,948##Closing Bell: Auto, financial stocks lift indices; Sensex up 277 points, Nifty at 10,948

    Indian shares ended higher on Tuesday, led by value buying in financial and auto stocks. Heavyweights ICICI Bank, HDFC and Kotak Bank were the top contributors on the benchmark S&P BSE Sensex index. The Sensex ended 277 points higher at 36,977 while the broader Nifty50 index added 86 points to end the day at 10,948. In broader markets, the Nifty Midcap and Nifty Smallcap index advanced 2 percent each. Indiabulls Housing, YES Bank, Tech Mahindra, Bajaj Finance and Bharti Airtel were the top gainers on the Nifty50 index, while Zee, Cipla, Reliance Industries, TCS, and PowerGrid led the losses. All sectoral indices, except IT and Nifty Media, were positive for the day. The Nifty Realty index gained the most, up 1.8 percent, followed by banking and financial indices. Nifty Pvt Bank and Nifty Fin Services Bank were trading 1.5 percent higher, while Nifty PSU Bank rose 1.4 percent. Nifty Auto and Nifty Bank added over 1 percent each during the day. Shares of Indiabulls Housing Finance rose over 7 percent ahead of the release of financial results for the quarter ended June 30. DHFL rallied 31 percent after the cash-strapped lender said that the Special Committee has approved the resolution plan to the lenders of the company. SRF surged 16 percent after the company reported robust numbers in the June quarter earnings.

  • Sources On DHFL Resolution: Creditors see company’s assets in 3 buckets##Sources On DHFL Resolution: Creditors see company’s assets in 3 buckets

  • DHFL jumps 40% after Special Committee approves resolution plan##DHFL jumps 40% after Special Committee approves resolution plan


    Shares of Dewan Housing Finance (DHFL) surged nearly 40 percent on Tuesday after the cash-strapped lender said that the Special Committee has approved the resolution plan to the lenders of the company. In a regulatory filing this morning, DHFL said the Special Committee for Resolution Plan today took on record the draft resolution plan formulated by the company in consultation with the committee and its financial advisors, Ernst & Young.

  • Rakesh Junjhunwala's water management bet pays off! Stock up almost 100% in 9 months##Rakesh Junjhunwala's water management bet pays off! Stock up almost 100% in 9 months

    At a time when equity investors are losing millions in stock markets around the globe, ace investor Rakesh Jhunjhulwala's wealth nearly doubled as he invested in this stock. Water management company Ion Exchange has rallied as much as 98 percent from its 52-week low of Rs 335 hit on October 31, 2018 and currently trades at Rs 664. The smallcap stock has risen 76 percent in 2019 alone when benchmark Nifty50 lost 0.4 percent. The stock hit its 52-week high of Rs 794 per share on BSE on July 22, 2019, and the current market cap of the company stands at Rs 980 crore. READ MORE

  • Titan's Q1 topline & EBITDA rise little over 14% YoY, margin up 10 bps##Titan's Q1 topline & EBITDA rise little over 14% YoY, margin up 10 bps

  • Should you subscribe Sterling and Wilson Solar IPO? Here is what brokerages suggest##Should you subscribe Sterling and Wilson Solar IPO? Here is what brokerages suggest

    The initial public offering (IPO) of Sterling and Wilson Solar (SWSL), which opened for subscription on Tuesday, is looking to raise to raise Rs 3,125 crore from the capital market. The company has fixed the issue price band at Rs 775-780 per share and will close on August 8. The Sterling and Wilson IPO consists entirely of an offer for sale (OFS) of 4.01-4.03 crore shares (25 percent of post-dilution equity) by the promoters. READ MORE

  • JSW Energy Q1 net profit slightly below CNBC-TV18 poll##JSW Energy Q1 net profit slightly below CNBC-TV18 poll

  • Gold will continue to trade higher due to ongoing currency trade war, says Indigo Precious Metals##Gold will continue to trade higher due to ongoing currency trade war, says Indigo Precious Metals

    The commodity markets have seen very sharp declines in industrial commodities. Crude oil prices have come back slightly from seven-week lows on Monday. The metal prices have continued to decline as well. Copper is trading at a two-year low and zinc at an 11-month low. With the trade dispute intensifying between the United States and China, and the currency market reacting to it as well, there is more than a percentage point of decline in Shanghai Metals Market.


    However, gold prices are shining brightly. Comex gold has hit a six-year high. Gold price touched a high of $1,480 per ounce. In the Indian markets, gold is trading at a record high. READ MORE

  • What is next for portfolio investors?

    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: Indices end positive led by auto, financials, Sensex up 277 points, Nifty near 10950, DHFL soars 32%
  • India still looks superior to other Asian markets, says Manishi Raychaudhuri of BNP Paribas##India still looks superior to other Asian markets, says Manishi Raychaudhuri of BNP Paribas

    Manishi Raychaudhuri, Asia Pacific Equity Strategist at BNP Paribas, spoke to CNBC-TV18 about the market fundamentals as well as specific stocks and sectors. Sharing his rationale on upgrading India, Raychaudhuri said, “Unfortunately all across Asia, if not global equities it looks like a perfect storm right now. This is something I don’t think anyone had anticipated even about 2-3 weeks ago. Number one there was an expectation of the trade war coming to a conclusion or at least seeing the signs of getting sorted out around the time the US-China Summit took place in late June. Second, around the same time or just prior to that we had the new government formation in India and there were certain expectations from the budget. Third, we have seen that general macroeconomic or rather consumption demand slowed down across the Asian region for various reason have been very sharper than anyone had anticipated. So if I were to put all three things together over past 2-3 weeks it has almost turned out to be a perfect storm for Asian and Emerging market equities.” READ MORE

  • Indiabulls Housing Finance shares rise over 7% ahead of first quarter earnings##Indiabulls Housing Finance shares rise over 7% ahead of first quarter earnings

    Shares of Indiabulls Housing Finance rose over 7 percent intraday on Tuesday ahead of the release of financial results for the quarter ended June 30. Shares rose as much as 7.16 percent to Rs 510.90 per share on the NSE, while on the BSE, the stock advanced to a high of Rs 510.25 per share, up 7.06 percent. READ MORE

  • Recovery in IndiGo, stock is now 7% off low point##Recovery in IndiGo, stock is now 7% off low point

  • Prudent to wait and look at other asset classes, says Dimensions Corp Finance Services##Prudent to wait and look at other asset classes, says Dimensions Corp Finance Services


    Ajay Srivastava, CEO of Dimensions Corporate Finance Services, believes outguessing the market would not be the right strategy. It would be prudent to just wait and let the market find its level, he said. "So, one must be calm and hold on to what they have and not aspire to buy what they don’t have," he advised investors in an interview with CNBC-TV18.

    Talking about policy proposals, he said announcements do not create economics and market, at the most they could create short-term uplift to the sentiment. According to him, the reversal in sentiment is beyond policy action and sentiment will improve only once the market production orders start picking up, when people start coming to the market and spend. READ MORE

  • Metal companies gain after steep correction in last 1 month##Metal companies gain after steep correction in last 1 month

    Shares of metal companies bounced back after witnessing a steep correction in the past one month and a huge fall in recent days on concerns over weak demand outlook. Weak global demand outlook amid economic slowdown due to deepening trade tensions between the US and China remain an overhang on demand for the commodity. Nifty Metal was among the few top gainers on the sectoral indices, up 1 percent.

  • SRF extends gains post Q1 results, surges 14%##SRF extends gains post Q1 results, surges 14%

    Shares of SRF surged over 14 percent on Tuesday after the company robust number in the June quarter earnings. The company has reported a 41.38 percent rise in its consolidated net profit at Rs 189.22 crore in Q1 as against Rs 133.84 crore in the corresponding quarter a year ago.The stock gained as much as 14.4 percent to Rs 2,950 per share on BSE. At 11:14 AM, the stock was trading 13.6 percent higher at Rs 2,928.60 as compared to 0.2 percent (92 points) rise in BSE Sensex at 36,792.

  • ZEEL down for 7th day as promoter share sale disappoints##ZEEL down for 7th day as promoter share sale disappoints

    Shares of Zee Entertainment continued its downward journey for the seventh straight session and fell 3.7 percent to hit a one-month low of Rs 318.65 as investors were disappointed after the company's promoters, Essel Group, last week announced they will sell 11 percent stake in Zee Entertainment Enterprises to Invesco Oppenheimer Developing Markets Fund for Rs 4224 crore. The stock has fallen 11.8 percent since Thursday following the announcement late Wednesday. Post the deal, while the promoters' stake will reduce to around 25 percent that of Invesco Oppenheimer will rise to about 19 percent from the current 7.74 percent. At 11.06 am, shares of Zee Entertainment Enterprises were down 3.9 percent at Rs 318.10.

  • SRF jumps 10% as Q1 consolidated PAT above view, up 41%##SRF jumps 10% as Q1 consolidated PAT above view, up 41%

    Shares of SRF snapped their three-session losing streak and surged over 10 percent to Rs 2,843 as the company reported better-than-expected Q1 consolidated net profit which jumped 41.4 percent on year to Rs 190 crore. So far today, 341,418 shares of the company changed hands on the NSE, more than daily average volume of 230,885 shares.

  • Brokerages expect RBI to cut interest rates by 25 bps in June MPC meeting##Brokerages expect RBI to cut interest rates by 25 bps in June MPC meeting


    Brokerages on Monday said they expect the Reserve Bank of India (RBI) will cut interest rates by 25 basis points in the June monetary policy committee (MPC) meeting after India’s fourth-quarter gross domestic product (GDP) growth rate slowed to a five-year low of 5.8 percent. READ MORE

  • Oil prices rise, escalating US-China trade war caps gains##Oil prices rise, escalating US-China trade war caps gains


    Brent crude rose on Tuesday, after earlier falling to its lowest since January, as traders betting on falling prices bought back contracts to lock in profits from recent declines caused by the escalating trade dispute between the US and China. Brent prices have plunged 7.6 percent since their close on July 31, the day before US President Donald Trump vowed to impose new tariffs on Chinese imports, causing China to retaliate against agricultural imports from the United States, which responded to a decline in the Chinese yuan on Monday by branding the country a currency manipulator later in the day. Brent fell more than 3 percent on Monday as traders are concerned the ongoing trade dispute between the world’s two biggest oil buyers will dent demand. Brent crude futures climbed 47 cents, or 0.8 percent, to $60.28 a barrel by 0351 GMT after earlier dipping to $59.07, their lowest since January 14. West Texas Intermediate (WTI) crude futures rose 47 cents, or 0.9 percent, to $55.16 per barrel.

  • CLSA says earnings took a hit amid demand slowdown, market outlook cautious##CLSA says earnings took a hit amid demand slowdown, market outlook cautious


    As demand in consumption space and auto sector slowed down, CLSA believes that corporate earnings took a hit due to the cautious market outlook. Of the 70 results announcements from our India coverage universe so far, 47 percent were above our expectations, 19 percent were in-line and 34 percent were below, said CLSA in its report. It further said, "Nifty EPS estimates for FY20 have been cut to current 4 percent, and we expect a shade below 20 percent earnings growth." READ MORE

  • Financials, auto stocks among top Nifty gainers in early trade##Financials, auto stocks among top Nifty gainers in early trade

  • ZEEL, Titan, HUL among major Nifty losers##ZEEL, Titan, HUL among major Nifty losers

  • Opening Bell: Sensex, Nifty edge up after weak start, banks, financials gain, metals trade weak##Opening Bell: Sensex, Nifty edge up after weak start, banks, financials gain, metals trade weak


    Indian shares edged up after starting in the red on Tuesday, a day after benchmark indices, the BSE Sensex and the NSE Nifty50, posted sharp losses. The Sensex traded above 36,700 in initial tick, rising over 32 points, while the Nifty also traded above 10850, gaining over 13 points. The Nifty MidCap index surged 67 points, or 0.43 percent, to trade at 15556, while the Nifty Bank was higher by 0.27 percent. Auto, telecom, infra, consumer durables, bankex gained among sectoral indexes, while FMCG, power and metal were under pressure. IndusInd Bank, Indiabulls Housing Finance, Tata Motors, Eicher Motors and Bajaj Finance surged between 1 and 1.5 percent. ZEEL, Titan, Hindustan Unilever, PowerGrid and TCS slipped by up to 2 percent.

  • Top stock recommendations by Ashwani Gujral, Sudarshan Sukhani, Mitessh Thakkar for Tuesday##Top stock recommendations by Ashwani Gujral, Sudarshan Sukhani, Mitessh Thakkar for Tuesday


    Mitessh Thakkar - mitesshthakkar.com

    - Buy Tech Mahindra with a stop loss of Rs 642, target at Rs 660

    - Sell YES Bank with a stop loss of Rs 83.5, target at Rs 75

    - Sell Titan Company with a stop loss of Rs 1,055, target at Rs 1,000

    - Sell Kotak Mahindra Bank with a stop loss of Rs 1,478, target at Rs 1,420

    Click or tap to check our more buy-sell ideas for today by market experts Ashwani Gujral and Sudarshan Sukhani

  • Top brokerage calls for August 6: Morgan Stanley initiates coverage on L&T Info, BofAML downgrades Bharat Forge##Top brokerage calls for August 6: Morgan Stanley initiates coverage on L&T Info, BofAML downgrades Bharat Forge

    Morgan Stanley on L&T Info: The brokerage initiates coverage on the stock with 'overweight' rating and target at Rs 1,780 per share. The stock has demonstrated strong growth and stability since IPO and the brokerage expects its core business to outpace most peers.

    BofAML on Bharat Forge: The brokerage downgraded the stock to 'neutral' from 'buy' and cut its target price to Rs 450 per share from Rs 540 earlier. Slowing export momentum is a risk to near-term earnings and outlook for exports across Class 8 trucks and industrial forgings have weakened, the brokerage added.

    Click or tap for more brokerage calls for today

  • Rupee opens lower at 70.80 against the US dollar, Sensex, Nifty lower in pre-open##Rupee opens lower at 70.80 against the US dollar, Sensex, Nifty lower in pre-open


    The Indian rupee opened lower by 7 paise at 70.80 per dollar on Tuesday versus previous close 70.73. Meanwhile, the Sensex settled 132 points lower at 36568 at 9.08 am, while the Nifty was lower by  47 points at 10815. The Nifty MidCap index slipped 0.52 percent and the Bank Nifty was down by 0.47 percent. READ MORE

  • In a letter to IndiGo directors, Rakesh Gangwal says promoter groups have an agreement on all issue##In a letter to IndiGo directors, Rakesh Gangwal says promoter groups have an agreement on all issue