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This article is more than 2 year old.

Closing Bell: Sensex ends 318 points lower, Nifty gives up 11600, midcaps fall sharply, Yes Bank plunges 12.5%

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Indian shares ended Thursday's trade with sharp losses dragged by bank, auto and metal stocks in particular, amid weak global cues as concerns over the US-China trade war weighed on investors' risk appetite. Trading was also cautious amid the ongoing first-quarter earnings season and continued selling by foreign investors in domestic equity. The Sensex trades ended below 39,000, while the Nifty gave up 11,600. Yes Bank shares fell sharply after disappointing first quarter results. Wipro shares have surged. Here are the main highlights from the stock markets today:

Closing Bell: Sensex ends 318 points lower, Nifty gives up 11600, midcaps fall sharply, Yes Bank plunges 12.5%
  • Sensex heatmap at close: HDFC, Kotak Bank top gainer, Yes Bank top loser##Sensex heatmap at close: HDFC, Kotak Bank top gainer, Yes Bank top loser

    Closing Bell: Sensex ends 318 points lower, Nifty gives up 11600, midcaps fall sharply, Yes Bank plunges 12.5%
  • Closing Bell: Sensex, Nifty end sharply lower, Nifty MidCap falls 1.7%, Yes Bank 12.5%##Closing Bell: Sensex, Nifty end sharply lower, Nifty MidCap falls 1.7%, Yes Bank 12.5%

    The BSE Sensex ended 318 points lower, or 0.81 percent, to settle at 38,897 at close. The Nifty shed over 90 points, or 0.78 percent, to close trade at 11,597. The Nifty MidCap index dropped 1.7 percent, while the BSE MidCap also declined 1.23 percent. Nifty Bank also ended nearly a percent lower, while Nifty PSU Banks dropped over 3 percent. Nifty Auto and Metal were other major falling sectors. Only Nifty Media was major advancing sector. Wipro, HDFC, ZEEL, Britannia, HDFC Bank, Kotak Mahindra Bank and ITC surged by up to 3.7 percent. Yes Bank, ONGC, Tata Motors, Coal India, M&M, fell between 3 and 13 percent.

  • This Nifty50 stock surged 78% in last one year despite poor earnings, global headwinds##This Nifty50 stock surged 78% in last one year despite poor earnings, global headwinds


    In last one year, 10 Nifty50 companies rose more than 20 percent, but only one stock posted returns of around 78 percent. Despite poor earnings and global macro cues, United Phosphorus Limited (UPL) stock performed unbelievably well, with returns of about 31 percent returns this year alone. In terms of valuations with its peers, UPL trades at a P/E (Price to Earnings ratio) of 22.19x while Bayer CropScience and PI Industries are trading at a P/E of 44.76x and 28.67x, respectively. READ MORE

  • Nifty slips below 11,600##Nifty slips below 11,600

  • Here's a quick catch-up of what has so far happened in the markets today##Here's a quick catch-up of what has so far happened in the markets today

    -Benchmark indices extended losses with the Nifty near 11630. The Sensex gave up 39,100.

    -Broader markets have fallen sharply with the Nifty MidCap index down by 1.5 percent. The BSE MidCap was also lower by over a percent. 

    -Wipro, HDFC, Britanna, HDFC Bank, Bajaj Finance among top gainers, rising by up to 3.3 percent.

    -Yes Bank tanks almost 20 percent intra-day after poor first quarter results. ONGC, Tata Motors, Vedanta and Coal India were other losers falling between 1 and 2.5 percent.

    -Shares of midsize IT company Mindtree fell over 10 percent on Thursday following weak first-quarter results with 41.4 percent decline in consolidated net profit.

  • European shares hit three-week low as SAP slides##European shares hit three-week low as SAP slides

    Technology stocks pushed European shares to three-week lows on Thursday after software firm SAP reported poor results, the latest company to warn about damage from protracted trade tensions as gloom about earnings spreads across global equities. Shares in Europe’s most valuable tech company (SAPG.DE) dove 6% after it said investors would have to wait till next year for a major improvement in margins as the business software group reported a 21% fall in quarterly operating profit.

  • M&M down 3% as stock trades ex-dividend##M&M down 3% as stock trades ex-dividend


    Shares of Mahindra & Mahindra fell nearly 3 percent on Thursday as the stock traded ex-dividend. A stock generally trades on a weak note the day it goes ex-dividend as prices fall by nearly the same amount as the dividend announced. On May 29, the company had announced a dividend of Rs 8.50 per share. At 2.25 pm, shares of Mahindra & Mahindra were 2.11 percent lower at Rs 596.60, slightly up from the day's low of Rs 596.10.

  • SpiceJet grabs most of ex-Jet Airways aircraft, market share hits 5-year high##SpiceJet grabs most of ex-Jet Airways aircraft, market share hits 5-year high


    Aviation industry this year saw some turbulent times, especially after Jet Airways was forced to shut its operations in April. But the Jet debacle did help two listed Indian aviation companies gain market share and expand the fleet of aircraft.


    According to a report by brokerage Prabhudas Lilladher, SpiceJet’s market share improved 170 basis points month-on-month to a 5-year high of 14.8 percent between April-May while that of IndiGo rose to 49.2 percent. READ MORE

  • Torrent Pharma tanks 6% after USFDA classifies inspection at Dahej facility as OAI##Torrent Pharma tanks 6% after USFDA classifies inspection at Dahej facility as OAI

    Torrent Pharmaceuticals shares fell more than 6 percent intraday on July 18 after the US drug regulator classified the inspection conducted at its Dahej facility in March as Official Action Initiated (OAI). The company said it had already submitted its initial response to USFDA and commitments given in response to Form 483 observations have been fulfilled. The company is sending further updates over receiving of this OAI letter, it added.

  • From Rs 1 lakh to Rs 1.3 crore! This stock has surged nearly 13,000% in 10 years

    Astral Poly Technik has emerged as one of the major wealth-creating companies in the last 10 years. The stock, which traded around Rs 10 in July 2009, surged 12,900 percent to around Rs 1,300 per share.
    Closing Bell: Sensex ends 318 points lower, Nifty gives up 11600, midcaps fall sharply, Yes Bank plunges 12.5%
  • More individual investors bought Yes Bank in Q1 even as MFs, FPIs sold stock. Here's why##More individual investors bought Yes Bank in Q1 even as MFs, FPIs sold stock. Here's why


    Private lender Yes Bank on Wednesday reported a 91 percent year-on-year (YoY) drop in net profit at Rs 113.8 crore for the first quarter ended June 2019. In the corresponding quarter last year, the company had posted a net profit of Rs 1,260.4 crore. The stock has fallen 64 percent in April-June. However, the shareholding of individuals (with investment up to 2 lakh) in the bank has risen to 18.72 percent in Q1 from 11.13 percent in Q4FY19. According to the shareholding data on BSE, shareholders with capital up to 2 lakhs have increased from 7.39 lakh in Q4FY19 to 11 lakh in Q1FY20. But holdings of individual investors with a share capital over Rs 2 lakh declined to 1.74 percent from 2.83 percent. READ MORE

  • Here's a snapshot of DB Corp's first quarter earnings##Here's a snapshot of DB Corp's first quarter earnings

  • Wondering which IT stock to buy? Saurabh Mukherjea of Marcellus Investment has an advice for you##Wondering which IT stock to buy? Saurabh Mukherjea of Marcellus Investment has an advice for you

    If you are looking to buy Indian IT stocks then the main trigger will be the currency weakness, said Saurabh Mukherjea, founder of Marcellus Investment Managers. “The weakness in export performance does point to the rupee being significantly overvalued,” Mukherjea told CNBC-TV18 on Thursday. Talking about the IT stocks, he said, “Buy champion companies and sit back and let them compound and with our TCS holding; both for our clients’ portfolio and in my own portfolio, my view is a stock like TCS, I will prefer to ride through it.” READ MORE

  • Colgate reports Q1 toothpaste volume growth in-line with CNBC-TV18's poll of 4% growth##Colgate reports Q1 toothpaste volume growth in-line with CNBC-TV18's poll of 4% growth

  • Crax snack maker DFM Foods shares jump 20% after upbeat Q1 earnings##Crax snack maker DFM Foods shares jump 20% after upbeat Q1 earnings


    Shares of DFM Foods surged over 20 percent to Rs 293 on Thursday after the food processing company posted a near 52 percent jump in the first-quarter profit. DFM Foods, the maker of Crax corn rings and cheese balls, reported a profit of Rs 7.63 crore in the three months ended June 30 versus Rs 5.01 crore last year. Revenue rose to Rs 127.72 crore versus Rs 98.69 crore in the corresponding period last year. READ MORE

  • Punjab & Sind Bank falls 6% after reporting fraud by Bhushan Power & Steel##Punjab & Sind Bank falls 6% after reporting fraud by Bhushan Power & Steel

    Punjab & Sind Bank shares fell 6 percent intraday after reporting fraud by Bhushan Power & Steel to Reserve Bank of India. "On the basis of Forensic Audit Investigation findings and CBI filing FIR, on suo moto basis, against Bhushan Power & Steel and its directors, alleging diversion of funds from the banking system, a fraud of Rs 238.30 crore is being reported by the bank to RBI," the lender said in its BSE filing.

  • Gold retraces from two-week peak as investors lock in profits##Gold retraces from two-week peak as investors lock in profits

    Gold prices pulled back from a two-week high to trade lower on Thursday, as some investors took advantage of the last session’s gain to book profits. Spot gold was down 0.3 percent at $1,422.68 per ounce, as of 0350 GMT, after hitting its highest since July 3 at $1,428.40. It rose nearly 1.5 percent in the previous session as the dollar slipped after weaker-than-expected U.S. housing data increased prospects for an interest rate cut by the Federal Reserve. US gold futures were steady at $1,423.70 an ounce.

  • India gets rainfall 20% below average in latest week: IMD##India gets rainfall 20% below average in latest week: IMD

    India’s monsoon rains were 20 percent below average in the week ending on Wednesday, as rainfall was scanty over the central, western and southern parts of the country, the India Meteorological Department (IMD) said, raising concerns over the output of summer-sown crops. Monsoon rains are crucial for farm output and economic growth, as about 55 percent of India’s arable land is rain-fed, and agriculture forms about 15% of a $2.5 trillion economy that is the third biggest in Asia.Soybean- and cotton-growing central regions received 68 percent less rainfall in the week, while the rubber- and tea-growing southern state of Kerala received 71 percent lower rainfall, data from the weather office showed. Overall, India has received rains that were 16 percent less than average since the monsoon season began on June 1.

  • Government mulls listing of Coal India's profit-making arms##Government mulls listing of Coal India's profit-making arms


    The government is examining a proposal to list profit-making subsidiaries of state-owned Coal India Ltd in a bid to raise funds, sources privy to the development said. Coal India has seven arms: Eastern Coalfields Ltd (ECL), Bharat Coking Coal Ltd (BCCL), Central Coalfields Ltd (CCL), Western Coalfields Ltd (WCL), South Eastern Coalfields Ltd (SECL), Northern Coalfields Ltd (NCL) and Mahanadi Coalfields Ltd (MCL). READ MORE

  • Mindtree shares fall 10% on weak Q1 results##Mindtree shares fall 10% on weak Q1 results


    Shares of midsize IT company Mindtree fell over 10 percent on Thursday following weak first-quarter results with 41.4 percent fall in consolidated net profit. Mindtree stock price fell 10.6 percent to Rs 670.95 per share intraday, hitting its 52-week low. At 9.36 AM, it was trading 8.77 percent lower at Rs 684.90 per share, while the Nifty was down 37.45 points, or 0.32 percent, at 11,650.05. The company posted a consolidated net profit of Rs 92.7 crore for the quarter ended June 30, while the revenue rose 11.9 percent to Rs 1,834.2 crore in the quarter. The operating margin for the IT company fell to 6.4 percent, its all-time low. READ MORE

  • YES Bank shares slump 19% after Q1 profit plunge##YES Bank shares slump 19% after Q1 profit plunge


    YES Bank shares tanked 19 percent to Rs 79.15 in early morning trading on Thursday after the lender reported a near 91 percent slump in first-quarter earnings. Among brokerages, Jefferies maintained' underperform' recommendation on the stock with target price of Rs 50 per share. The research house said, "Q1 is far worse than what we had anticipated. About half of the new non-performing loans (NPLs) are outside watchlist. The management assured capital infusion in Q2, but the optics are too unsettling." READ MORE

  • Top stock ideas by Ashwani Gujral, Mitessh Thakkar, Jai Bala for Thursday##Top stock ideas by Ashwani Gujral, Mitessh Thakkar, Jai Bala for Thursday

    Ashwani Gujral - ashwanigujral.com

    - Buy SBI with a stop loss of Rs 368, target at Rs 382.

    - Buy IndusInd Bank with a stop loss of Rs 1,480, target at Rs 1,540.

    - Buy Colgate Palmolive with a stop loss of Rs 1,150, target at Rs 1,200.

    - Buy HUL with a stop loss of Rs 1,745, target at Rs 1,800.

    - Sell ONGC with a stop loss of Rs 155, target at Rs 142.

    Click or tap to read more buy-sell ideas by market experts Jai Bala and Mitessh Thakkar

  • Yes Bank's current market cap now stands less than the market cap erased in 2019##Yes Bank's current market cap now stands less than the market cap erased in 2019


    Yes Bank's share price now at over five-year low with the private sector lender's market cap now lowest amongst all nifty stocks. The bank's current market cap stands at Rs 20,000 crore is less than the market cap erased (Rs 23,790 crore) in 2019.

  • Wipro, Airtel, NTCP among top gainers in the market at this hour##Wipro, Airtel, NTCP among top gainers in the market at this hour

  • Yes Bank falls sharply, ONGC, M&M, Titan, Vedanta among major losers##Yes Bank falls sharply, ONGC, M&M, Titan, Vedanta among major losers

  • Opening Bell: Sensex, Nifty start lower, Yes Bank falls to 5-year low##Opening Bell: Sensex, Nifty start lower, Yes Bank falls to 5-year low


    The BSE Sensex dropped by over 77 points, or 0.20 percent, to trade at 39,138.60 in initial trade. The Nifty also started 24 points lower, or 0.20 percent, to trade at 11,664. The Nifty MidCap index also slipped by over 42 points, or 0.25 percent, to trade at 17038. Nifty Bank fell over 60 points, or 0.25 percent, to trade at 30,675.20. Yes Bank tanked sharply with the stock down by over 12 percent in erarly trade, falling to five-year low. ONGC, M&M, Titan, Vedanta fell over 1 percent each. Wipro rose 2.35 percent, while Bharti Airtel, NTCP, Eicher Motors and HDFC Bank were other gainers, rising by up to 2.35 percent.

  • Rupee opens higher at 68.76 against the US dollar##Rupee opens higher at 68.76 against the US dollar

  • ACC Q2CY19 Earnings: Margins likely to improve despite lower volumes##ACC Q2CY19 Earnings: Margins likely to improve despite lower volumes

    One of India's largest cement producers ACC Limited is set to report its Q2CY19 results today. The stock has risen 9 percent in the last few weeks.

    In terms of the topline, the analysts are expecting more or less flattish number or a rise of about 1 to 1.5 percent.

    Here are the key expectations:

    -Volumes are expected to be at around 7 million tonnes, down about 3.5 percent approximately.

    -Realisations will jump up. ACC has a pan-India presence but its presence in central, eastern, as well as south India,  is what is going to help the realisations move higher. READ MORE

  • Colgate Palmolive India Q1 Earnings: Net profit likely to fall around 10%
    Colgate Palmolive (India) is set to report its first-quarter results today. Alongside all the other fast-moving consumer goods (FMCG) stocks, which have been under pressure over the last few quarters, Colgate has underperformed, down 16 percent in 2019 so far.
    Closing Bell: Sensex ends 318 points lower, Nifty gives up 11600, midcaps fall sharply, Yes Bank plunges 12.5%
  • These bets by Rakesh Jhunjhunwala have fallen up to 80% this year##These bets by Rakesh Jhunjhunwala have fallen up to 80% this year


    Indian markets have been volatile in 2019 with the benchmark indices swinging gains and losses as markets remain exposed to the slowdown in the economy, concerns around liquidity woes for NBFCs and a slowdown in consumption on the domestic front. While fundamentally strong stocks have hit an all-time high, ones with a weak structure and poor earnings have fallen to their record low levels during the year. Even market guru Rakesh Jhunjhunwala has lost wealth in this volatile market. Some stocks in his portfolio have given negative returns up to 80 percent for the year. These stocks include DHFL, DB Realty, Mandhana Retail Ventures, Edelweiss Financial Services and Delta Corp, among others. READ MORE