Closing Bell: Nifty ends above 11100 led by IndusInd Bank, Yes Bank, Tata Steel, Sensex settles below 37500, midcaps outperform

Sensex heatmap at close: Yes Bank, IndusInd Bank, Tata Steel, Hero Moto top gainers, Axis Bank top loser##Sensex heatmap at close: Yes Bank, IndusInd Bank, Tata Steel, Hero Moto top gainers, Axis Bank top loser

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

-Sensex, Nifty, Nifty Bank, Midcap index post biggest monthly fall in 2019
-Nifty down 5.7 percent and Sensex 4.9 percent this month; worst July in 17 years
-Worst July for Nifty Bank in 19 years and Nifty Midcap in 17 years
-Sensex and Nifty close with minor gains amid volatility
-Nifty gains more than 1 percent from lows after breaching 11,000 intra-day
-Sensex back above 200-day moving average, up more than 350 points from lows
-Today’s gain for Midcap index is the biggest in more than a month
-Axis Bank posts biggest single-day fall in nearly 2 years; slippages at four-quarter high
-Reliance slips for seventh straight day, first seven-day consecutive fall in 14 months 
-Except Media and Realty, all sectoral indices close in the green
-IT top contributor to Nifty Gains while energy led by Reliance underperforms

Closing Bell: Sensex, Nifty end with gains, worst July in 17 years##Closing Bell: Sensex, Nifty end with gains, worst July in 17 years

Indian shares ended Wednesday's trade with gains, but still the benchmark equity indices, the BSE Sensex and NSE Nifty50, psoted biggest monthly fall in 2019. The Nifty dipped 5.7 percent this month and Sensex fell 4.9 percent this month, what is the worst July in 17 years. The Sensex settled higher, adding 83.88 points at 37,481, while Nifty was up 32.60 points at 11,118. Zee Entertainment, Axis Bank, Bharti Airtel, Titan Company and Bharti Infratel were among major losers on the Nifty, while gainers were IndusInd Bank, Yes Bank, IOC, Hero Motocorp and Tata Steel. All the sectoral indices ended in the green led by the metal, auto, pharma, IT, infra, FMCG and energy.

Allahabad Bank's Q1 NII dips 10.2% on a like-to-like basis, at Rs 1,530.1 crore##Allahabad Bank's Q1 NII dips 10.2% on a like-to-like basis, at Rs 1,530.1 crore

IOC Q1 net profit dips 41%##IOC Q1 net profit dips 41%

Indian Oil Corporation (IOC) has posted 41 percent fall in its June quarter net profit at Rs 3,596.11 against Rs 6,099.3 crore in the quarter ended March 2019. Revenue of the company was up 3.9 percent at Rs 1.50 lakh crore against Rs 1.45 lakh crore. 

ZEEL shares slightly off lows on reports of promoters meeting SEBI##ZEEL shares slightly off lows on reports of promoters meeting SEBI

Shares of Zee Entertainment Enterprises were slightly off lows as reports of the company's promoter meeting the regulator triggered hope that there could be some development related to the stake sale. Zee Entertainment's promoter Subhash Chandra likely met the regulator on Tuesday to share the status of the stake sale deal ahead of its deadline today, a CNBC-TV18 report said. The promoters of Zee Entertainment are expected to pare stake in the company by today and use proceeds to meet debt obligations. This, in turn, is expected to ease the redemption pressure on the company's shares, which were offered as collateral by the promoters against some non-convertible debentures issued by promoter entities. Shares of the company were 4.8 percent lower at Rs 362.70.

Nifty Midcap 100 index hits over 2-year low; RBL Bank, Power Finance top losers##Nifty Midcap 100 index hits over 2-year low; RBL Bank, Power Finance top losers

The Nifty Midcap 100 index hit an over 2-year low on Wednesday, on the back of a selloff in financials, information technology and automobile stocks. The Nifty Midcap index, which has fallen more than 16 percent in the last one year, fell to 15,510 intraday, its lowest level since January 27, 2017. The index slipped as much as 1.24 percent in today's trading session. READ MORE

Coffee Day Enterprises names interim chairman##Coffee Day Enterprises names interim chairman

Coffee Day Enterprises Ltd named SV Ranganath as interim chairman after founder VG Siddhartha was confirmed dead by the police on Wednesday. Ranganath is currently a non-executive independent director. The company has also set up a committee that will be vested with the powers of the chief executive and explore opportunities to deleverage the Coffee Day Group, the company said.

Asset quality has improved despite realty sector challenges, says Ajay Piramal##Asset quality has improved despite realty sector challenges, says Ajay Piramal

Despite challenging times for the real estate sector, the asset quality of the company has improved, says Chairman of Piramal Group Ajay Piramal. Since Real Estate Regulatory Authority (RERA) has come into play, there is distinction among developers. “Better developers will do better and the marginal ones will be under stress. So, we have consciously decided that we would only work with the better developers,” Piramal observed. READ MORE

ALSO READ | Sensex, Nifty pare losses; auto stocks lead

India presents a picture of 'short-term despair amid medium-term hope', according to Nomura##India presents a picture of 'short-term despair amid medium-term hope', according to Nomura

The ongoing demand slowdown and liquidity crunch present a picture of 'short-term despair amid medium-term hope' for India, said global brokerage Nomura in a report. Nomura believes India's GDP growth is yet to bottom out and expects it to further moderate to 5.7 percent in the June quarter from 5.8 percent in the March quarter. As per the global brokerage, high-frequency indicators suggest a further slowdown in economic activity in Q2, led by consumption and services, as a result of the ongoing shadow banking crisis and weak global growth. READ MORE

Nifty Realty index down 3% dragged by Indiabulls Real Estate, Phoenix Mills, Sunteck Realty##Nifty Realty index down 3% dragged by Indiabulls Real Estate, Phoenix Mills, Sunteck Realty

The Nifty Realty fell nearly 2 percent on Wednesday dragged mainly by Indiabulls Real Estate, Phoenix Mills and Sunteck Realty. The Nifty Realty was among the worst-performing indices on the NSE today, trading lower by 2.91 percent. Shares of Indiabulls Real Estate fell as much as 11 percent to Rs 79.10, intraday. Phoenix Mills shares declined over 5 percent, while Sunteck Realty's stock price was down by 4.6 percent, intraday. READ MORE

PNB Housing shares decline 6% after Q1 earnings miss estimates##PNB Housing shares decline 6% after Q1 earnings miss estimates

Shares of PNB Housing Finance fell about 6 percent, hitting its 52-week low, on Wednesday after the company reported a 11 percent jump in its net profit at Rs 284.50 crore for the June quarter but missed estimates. At 9.30 AM, the stock was trading 5.69 percent lower at Rs 675, while intraday, the stock fell as much as 6.2 percent to Rs 671. Jefferies said that although the company’s first-quarter profit rose, it missed estimates due to lower net interest income. Higher provision negated the lower operating expense, it added. READ MORE

Axis Bank shares slump 7% after Q1 results: should you buy or sell stock?##Axis Bank shares slump 7% after Q1 results: should you buy or sell stock?

Shares of Axis Bank fell nearly 7 percent on Wednesday after the private lender reported higher provisioning and slippages in the June quarter (Q1FY20). The bank's profit rose 95 percent year-on-year to Rs 1,370 crore, despite a decline in asset quality. The lender had reported a profit of Rs 701 crore in Q1FY19. READ MORE

Nifty breaches 11,000 for the first time since March 6##Nifty breaches 11,000 for the first time since March 6