Weak global cues and some disappointing show by India Inc. in the June quarter pushed benchmark indices lower on Tuesday, wiping off early gains. Pharma stocks were among the biggest drags. The 30-share pack Sensex declined 273.51 points or 0.52 per cent to close at 52,578.76. The index fell nearly 450 points from its highs. Its broader peer NSE Nifty fell 78 points or 0.49 per cent to 15,746.45.
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IRB Infrastructure Developers completes Rs 381.63 crore fundraising
Rupee slips 5 paise to close at 74.47 against US dollar
At the interbank foreign exchange market, the local unit opened at 74.36 against the dollar and witnessed an intra-day high of 74.35 and a low of 74.54 during the session. The local unit finally ended the day at 74.47, down 5 paise over its last close. On Monday, the rupee had settled at 74.42 against the US dollar.
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IndusInd Bank Q1 net profit surges 112% YoY to Rs 975 crore, beats estimates
Excessive volatility due to prevailing earnings season and upcoming monthly expiry of derivatives contracts are further adding to the participants’ worries. We reiterate our view to restrict leveraged positions and wait for clarity.
– Ajit Mishra, Religare Broking
This is how the 30-pack Sensex moved in today’s session. It touched a high of 53,024.70 and a low of 52,433.18 to finally settle at 52,578.76
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CLOSING BELL: Sensex sheds 274 pts on weak global cues; Nifty below 15,750; Zomato tanks 7%
- RIL, DRL and financials lead the market fall
- 20 of 30 Sensex stocks end the day in the red
- Index contributors: RIL, DRL, Axis Bank, HDFC, Kotak Bank
- Top Index gainers: Tata Steel (2.69%), Bajaj Finserv (2.15%), SBI (1.43%)
- Top Index losers: DRL (10.34%), Axis Bank (3.19%), Sun Pharma (2.28%)
- S&P BSE METAL biggest sectoral gainer, up 1.67%
- S&P BSE Healthcare biggest sectoral loser, down 2.90%
- Volume toppers: Tata Steel, SBI, RIL, Baja Finance, Axis Bank
UCO Bank Q1 net profit jumps over 4-fold to Rs 102 crore
On BSE, 486 stocks hit their upper circuit limit while 223 hit their lower circuit limit
Canara Bank Q1 net profit rises nearly three-fold to Rs 1,177 crore
Pharma stocks dip; Nifty Pharma tanks over 4%
Price as on 27 Jul, 2021 02:51 PM, Click on company names for their live prices.
Gold, silver spot prices
Metal stocks buck the broader trend
Price as on 27 Jul, 2021 02:30 PM, Click on company names for their live prices.
Axis Bank buys 5.55% stake in financial technology firm IBBIC
Axis Bank has bought 5.55 per cent stake in financial technology firm IBBIC. The bank has subscribed to 50,000 equity shares of face value of Rs 10 each fully paid up of IBBIC Private Ltd (IBBIC) for a consideration of Rs 10 per equity share constituting 5.55 per cent of the issued and paid up capital of IBBIC, Axis Bank said in a regulatory filing.
Metal stocks defy market mood. APL Apollo Tubes, Jindal Steel gain 4% each
Dr Reddy’s Lab hits lower circuit limit of 10%
Top losers in the pharma pack
Price as on 27 Jul, 2021 01:52 PM, Click on company names for their live prices.
China jitters drag Asian stocks to seven-month low
Asia’s stocks fell to fresh seven-month troughs on Tuesday, led by a third straight session of heavy selling of Chinese internet giants, while bond and currency markets clung to tight ranges ahead of the Federal Reserve policy meeting. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.97% to its lowest level since December, having slid 2.45% the previous day.
Nifty Metal and Nifty PSU Bank only two sectoral indices trading in the green
Morepen Laboratories Q1 profit jumps 57% to Rs 30.47 crore
Drug firm Morepen Laboratories on Tuesday reported a 57 per cent increase in its consolidated net profit at Rs 30.47 crore for the quarter ended June 30, 2021, helped by higher revenue. The company had posted a net profit of Rs 19.37 crore for the corresponding period in the previous financial year.
China woes drag European shares lower
European stocks lost ground on Tuesday as sharp falls in Chinese shares and disappointing sales numbers from Reckitt Benckiser offset a batch of strong earnings updates from companies including LVMH. The pan-European STOXX index fell 0.6% in its second session of losses but held a few points below its all-time high.
Top losers in Nifty Bank
Price as on 27 Jul, 2021 01:16 PM, Click on company names for their live prices.
Fear gauge index India VIX spikes 8%
Sensex slips over 200 points, Nifty near 15,750
Adani Ports and SEZ raises $750 million from overseas markets
UBS has a target price of Rs 165 on Zomato
UBS said Zomato stock can hit Rs 165 per share mark in the next 12 months, meaning an upside of over 117 per cent from the issue price.
Dr Reddy’s Lab slips 6% after Q1 report
Price as on 27 Jul, 2021 12:06 PM, Click on company names for their live prices.
Dr Reddy’s Q1 Results: Consolidated PAT falls YoY to Rs 571 cr, misses estimates; sales rise 11%
Alembic Pharma shares tank 10%
Alembic Pharma reported a 45.42 per cent decline in its consolidated net profit to Rs 164.52 crore for the quarter ended June 30, 2021, it said in a regulatory filing. The company had posted a net profit of Rs 301.46 crore in the same quarter previous year.
Glenmark Life Sciences IPO fully subscribed
Equitas Holdings, Equitas SFB rally on amalgamation scheme
Shares of Equitas Holdings and Equitas Small Finance Bank (SFB) jumped as much as 9 per cent each during early trade on Tuesday after it announced an amalgamation scheme. The share exchange ratio would result into each shareholder of the transferor company, Equitas Holdings, getting 226 equity shares of the transferee company, Equitas SFB, for every 100 shares held by them in the holding company.
Nifty PSU Bank index up 1%. Here are top gainers in the pack
Price as on 27 Jul, 2021 11:07 AM, Click on company names for their live prices.
DLF’s Q1 sales bookings jump nearly 7-fold to Rs 1,014 crore
Realty major DLF Ltd’s sales bookings jumped nearly 7-fold year-on-year to Rs 1,014 crore during the April-June quarter of this fiscal, on strong demand for its independent floors and luxury homes in Gurugram.
Rupee inches 7 paise higher to 74.35 against US dollar in early trade
The Indian rupee gained 7 paise and touched 74.35 against the US dollar in early trade on Tuesday, tracking positive domestic equities.
Zomato continues to rally, up 3%
While asset quality worry for banks and NBFCs post 1QFY22 earnings cards of HDFC Banks and ICICI Banks weighed on investor sentiment, it is likely to improve with the reopening of the complete economy and faster job creation
– Binod Modi, Head-Strategy at Reliance Securities
Glenmark Life IPO kicks off
The IPO by the active pharmaceutical ingredient (API) maker is being sold in Rs 695-720 price band. The higher end of the price band implies an asking P/E of 25.09 and a market cap of Rs 8,822 crore, based on adjusted FY21 EPS of Rs 28.69, on a post-issue basis.
Top gainers in the metals pack
Price as on 27 Jul, 2021 09:44 AM, Click on company names for their live prices.
Q1 Results Today
Dr. Reddy’s Laboratories, IndusInd Bank, Interglobe Aviation, Canara Bank, Torrent Pharmaceuticals, Dalmia Bharat, Dixon Technologies (India), The Ramco Cements, Sanofi India, UCO Bank, TTK Prestige, KPR Mills, Lux Industries and IIFL Finance will announce their quarterly results today.
Tata Steel, ICICI Bank among top Sensex gainers
All sectoral indices open in green. Nifty Metal and Nifty Realty up over 1% each
Opening Bell: Sensex rises 140 points, Nifty above 15,850; Equitas Holdings surges 8%, SPARC drops 4%
Pre-open session: Sensex rises 200 points, Nifty above 15,850
Q1 earnings today
Dr Reddy’s Laboratories, IndusInd Bank, InterGlobe Aviation, Canara Bank, Torrent Pharmaceuticals, Dalmia Bharat, Dixon Technologies (India), The Ramco Cements, Sanofi India, UCO Bank, TTK Prestige, KPR Mills, Lux Industries and IIFL Finance are among the company that will announce quarterly earnings today.
Two-day US Fed meet to begin today
As the policy-setting Federal Open Market Committee (FOMC) begins its two-day policy meeting Tuesday, markets and traders will be watching for hints of when it will begin tapering its massive monthly debt purchases. The bond buying program aimed to ease lending conditions during the crisis, but has come under scrutiny recently as inflation has soared to record levels as businesses reopen and consumers spend the savings built up during the worst months of the pandemic.
SGX Nifty signals a positive start
Nifty futures on Singapore Exchange traded 50 points, or 0.32 per cent, higher at 15,871.50, signaling that Dalal Street was headed for a positive start on Tuesday.
Tech View: Nifty resistance at 15,900
Nifty50 on Monday witnessed selling pressure near the 15,900 level, as the index ended up forming an indecisive Spinning Top candle as well as an ‘Inside Bar’ on the daily chart. The broader range for the NSE barometer stayed at 15,600-900, a breakout of which will decide the market direction, analysts said. In the immediate future, the 15,750 level will offer some support to the index while the 15,900 level continues to remain an immediate hurdle.
Hong Kong stocks bounce after hefty losses
Hong Kong shares opened slightly higher Tuesday morning, having plunged more than four percent the day before, but investors continue to fret over China’s crackdown on the country’s tutorial sector and tech firms. The Hang Seng rose 0.21 percent, or 56.26 points, to 26,248.58. The benchmark Shanghai Composite Index added 0.25 percent, or 8.73 points, to 3,476.17, while the Shenzhen Composite Index on China’s second exchange inched up 0.70 points to 2,412.51.
Tokyo stocks open higher with eyes on US Fed
Tokyo stocks opened higher on Tuesday in cautious trade ahead of the results of the US Federal Reserve’s latest meeting. The benchmark Nikkei 225 index was up 0.13 percent, or 34.94 points, at 27,868.23 in early trade, while the broader Topix index edged up 0.44 percent, or 8.39 points, to 1,934.01.
US indices settled at record high levels
US stocks touched record highs in choppy trade on Monday as investors avoided making new, bold bets before this week’s Federal Reserve policy meeting, which might offer clues on the outlook for monetary policy. Dow Jones added 83 points, or 0.24%, to finish at an all-time high of 35,144.31, while the S&P500 index rose 10.5 points, or 0.24%, to end at 4,422.3, also a record close. The Nasdaq Composite was little changed, adding just 3.7 points, or 0.03%, to close at 14,840.71.
Rupee drops 2 paise to 74.42 against dollar
The rupee slipped by 2 paise to close at 74.42 against the US dollar on Monday, snapping its three-day gaining streak amid a muted trend in domestic equities. Forex traders said the rupee is trading in a narrow range as investors are awaiting cues from the US Fed’s policy decision due this week.
Sensex, Nifty on Monday
Equity indices nursed mild losses on Monday after choppy trade as investors pared positions in blue-chips amid a largely subdued trend in global markets. Snapping a two-session rally, the 30-share BSE Sensex ended 123.53 points or 0.23 per cent lower at 52,852.27. Similarly, the broader NSE Nifty slipped 31.60 points or 0.20 per cent to 15,824.45.