Domestic equity benchmarks Sensex and Nifty were trading lacklustre on Monday amid selling pressure in financial and auto stocks. Top Nifty gainers included Hindalco, Bajaj Finserv, Tata Steel and Titan. On the other hand, selling pressure was seen in Tata Motors, SBI, Wipro and Maruti Suzuki. Fear gauge index India VIX was up 4% hinting at increasing nervousness on Dalal Street. Nifty Media was the top sectoral gainer, followed by IT and Pharma. Nifty Bank and Nifty Auto were among the laggards.
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On BSE, 598 stocks hit their upper circuit limits, while 288 stocks hit their lower circuit limits
Metal stocks rally
Price as on 26 Jul, 2021 03:15 PM, Click on company names for their live prices.
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Auto & auto ancillary stocks tumble
Price as on 26 Jul, 2021 03:03 PM, Click on company names for their live prices.
Volatility gauge India Vix jumps 6.03%
Gold, silver spot prices
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Zomato shares continue be in demand on Day 2 of its listing. Stock up 8%
Vodafone Idea upgrades enterprise postpaid plans; VI Business Plus plans to start at Rs 299 rental/month
Kotak Mahindra Bank Q1 results: Net profit rises 32% YoY to Rs 1,642 cr; asset quality weakens
Asia stocks hit 2021 lows as China skids, funds favour Wall Street
MSCI’s broadest index of Asia-Pacific shares outside Japan was down 2.0% to its lowest since last December. Chinese blue chips shed 4.4% to their lowest since December, in what was also the biggest daily decline in more than a year, as the education and property sectors were routed on worries over tighter government rules.
Analysts see up to 57% downside in YES Bank
Elara Capital has a target of Rs 6 on YES Bank. Kotak Securities has maintained its ‘sell’ rating on the stock with a target of Rs 11.
Most brokerages maintain bullish stance on ITC
CLSA has retained a buy rating on ITC with a target price of Rs 265. IDBI Capital has a target price of Rs 275 and Kotak Institutional Equities has revised its target price on ITC to Rs 275 from Rs 257.
Sun Pharma inks deal for acne treatment drug Winlevi
Drug major Sun Pharma on Monday said it has signed license and supply agreements with Cassiopea SpA for acne treatment drug Winlevi in the US and Canada. Sun Pharmaceutical Industries and Cassiopea SpA on Monday announced the signing of license and supply agreements for Winlevi (clascoterone cream 1 per cent) in the United States and Canada, according to a regulatory filing.
ICICI Bank shares hit 52-week high post Q1 earnings
ICICI Bank’s June quarter net profit zoomed 52 per cent to Rs 4,747.42 crore, driven majorly by lower provisions but reported an increase in stress from the retail loans segment.
Top gainers in the pharma pack
Price as on 26 Jul, 2021 12:23 PM, Click on company names for their live prices.
Early trend in Q1 results shows sustained growth on a low base
Net sales of a sample of 240 companies analysed by ET rose 34.1% year-on-year in the June quarter while net profit rose 67.8%.
Rolex Rings IPO to open on Wednesday; price band fixed at Rs 880-900
IDBI Bank shares gain 1%
Government and RBI are in talks to give regulatory relaxations for potential buyer of IDBI Bank: ET Now report
Rupee slips 4 paise to 74.44 against US dollar in early trade
The Indian rupee depreciated 4 paise to 74.44 against the US dollar in opening trade on Monday, as investors are awaiting cues from the US Fed’s policy decision, due this week. At the interbank foreign exchange, the rupee opened at 74.43 against the dollar, then fell further to 74.44, registering a fall of 4 paise over its previous close.
Price as on 26 Jul, 2021 11:06 AM, Click on company names for their live prices.
Top gainers in IT pack
Price as on 26 Jul, 2021 11:00 AM, Click on company names for their live prices.
Alkyl Amines, Balaji Amines gain over 10% each
Sensex, Nifty recoup losses with support from IT, private banks
We expect IT, metals, realty and infra, consumer discretionary to relatively outperform. BFSI is poised with an attractive risk/reward proposition. Our preferred large-cap picks are SBI, Wipro, Tata Steel while in midcaps we like Sonata Software, Bajaj Electricals, Indo Count Industries, JK Lakshmi Cement.
– Dharmesh Shah, Head – Technicals, ICICI Securities
DB Corp tanks 10% after I-T department raids
Shares of DB Corp declined as much as 10 per cent during early trade on Monday after the Income Tax department raided offices of the company last week.
YES Bank jumps 5% after Q1 report
YES Bank’s 355 per cent surge in June quarter net profit at Rs 207 crore — the highest quarterly profit since December 2018 — lifted its shares by 5 per cent in early trade on Monday. A 26.5 per cent YoY fall in the lender’s net interest income and higher slippages in the retail and SME segments disappointed analysts, who said the fall in corporate portfolio slippages was primarily due to the higher share of loans getting restructured.
Top losers in the banking pack
Price as on 26 Jul, 2021 10:01 AM, Click on company names for their live prices.
Q1 Earnings Today
Kotak Mahindra Bank, Larsen & Toubro, Axis Bank, Tata Motors, SBI Life Insurance, Vedanta, DLF, GlaxoSmithKline Pharmaceuticals, Coromandel International, Navin Fluorin, M&M Financial Services and Alembic Pharmaceuticals are among the company that will announce quarterly earnings today.
Hang Sang index falls 3% on regulatory clampdown on education firms
Asia stocks hit 7-month low
Asian shares skidded to seven-month lows on Monday as regulation concerns upended Chinese equities and strong U.S. corporate earnings sucked funds out of emerging markets into Wall Street. Chinese blue chips shed 2.4% to their lowest in 10 weeks as the education and property sectors were routed on worries over tighter government rules. That dragged MSCI’s broadest index of Asia-Pacific shares outside Japan down 1.4% to its lowest since early January. Japan’s Nikkei did bounce 1.4%, but that was off a seven-month low.
Top gainers and losers in broader market
Caplin Point, PVR, Alkyl Amines, Jindal Steel, Gujarat State Petronet and Dalmia Bharat were gainers from the broader market, while Vodafone Idea, Apollo Tyres, GMR Infra, CDSL, Tanla Platforms and Happiest Minds were under selling pressure.
Top Nifty gainers and losers
Divi’s Lab top Nifty50 gainer in early deals. Cipla, Tata Consumer, Infosys and Tech Mahindra among other blue-chip top performers. On the other hand, ICICI Bank, UPL, SBI, Tata Motors and Axis Bank among top losers.
Fear gauge index India VIX up 5%
Zomato continues to be in demand; stock up 4%
How Sensex socks are performing
Opening Bell: Sensex drops 150 points, Nifty slips below 15,800; Zomato jumps 4%, Symphony tanks 4%
Pre-open session: Sensex rises 140 points, Nifty tops 15,900
Q1 results today
Five Nifty50 firms Kotak Mahindra Bank, Larsen & Toubro, Axis Bank, Tata Motors and SBI Life Insurance will announce their June quarter results today. SBI Life Insurance, Vedanta, DLF, GlaxoSmithKline Pharmaceuticals, Coromandel International, Navin Fluorin, M&M Financial Services and Alembic Pharmaceuticals would be some other companies that will announce quarterly earnings today.
SGX Nifty signals a negative start
Nifty futures on Singapore Exchange traded 102 points, or 0.64 per cent, lower at 15,752, signaling that Dalal Street was headed for a negative start on Monday.
Tech View: Nifty bulls indecisive at highs
Nifty50 on Friday closed where it opened, making a Doji Cross candle on the daily chart. The chart pattern suggested indecisiveness among traders at the immediate resistance of 15,900 level. Nifty50’s struggle with the 15,900 level was clearly reflected in Friday’s intraday high of 15,899.80! A move past 15,900 would be a test for the Nifty50 bulls, analysts said.
Dollar holds near multi-month highs as Fed meeting in focus
The U.S. dollar hovered near its strongest level since early April against the euro on Monday, as financial markets looked ahead to the Federal Open Market Committee (FOMC) meeting this week for clues on the timing of stimulus tapering. The dollar index, which measures the currency against six major peers, stood at 92.920 at the start of the week, off from last week’s 3-1/2-month high of 93.194.
China stocks fall in early trade
The benchmark Shanghai Composite Index shed 0.35 percent, or 12.38 points, to 3,538.01. The Shenzhen Composite Index on China’s second exchange slipped 0.30 percent, or 7.35 points, to 2,460.79.
Hong Kong stocks open sharply lower
Hong Kong shares started Monday morning with sharp losses as tech firms took another hit from China’s clampdown on the sector, with Tencent among the biggest losers after mainland authorities said it had to give up its exclusive music label rights citing anti-monopoly laws. The Hang Seng Index sank 1.82 percent, or 496.25 points, to 26,825.73.
Tokyo stocks open higher on US rallies
Tokyo stocks opened higher on Monday as investors took heart from rallies on Wall Street, overcoming fears over the spread of the coronavirus Delta strain. The benchmark Nikkei 225 index was up 1.66 percent, or 457.47 points, at 28,005.47 in early trade. The broader Topix index gained 1.62 percent or 30.81 points to 1,935.22.
US stocks on Friday
Wall Street gained ground for the fourth straight session on Friday, extending a rally that pushed all three major US stock indices to record closing highs as upbeat earnings and signs of economic revival fueled investor risk appetite. The Dow Jones Industrial Average rose 238.2 points, or 0.68%, to 35,061.55, the S&P 500 gained 44.31 points, or 1.01%, to 4,411.79 and the Nasdaq Composite added 152.39 points, or 1.04%, to 14,836.99.
FPIs pull out so far Rs 5,689 cr from Indian equities in July
Foreign portfolio investors (FPIs) offloaded Indian equities to the tune of over Rs 5,689 crore in July so far as they continued to adopt a cautious stance in view of various domestic and global factors. During July 1-23, FPIs took out Rs 5,689.23 crore from equities, as per depositories data. During this period, they invested Rs 3,190.76 crore in the debt segment.
Rupee pares early losses to close 6 paise up against dollar
The rupee pared its early losses to close 6 paise higher at 74.40 against the US dollar on Friday, rising for the third session in a row on the back of weak crude oil prices and gains in the domestic equities. A stronger dollar in the overseas markets however weighed on the rupee sentiment.
Sensex, Nifty on Friday
Equity benchmark Sensex rose 139 points on Friday following gains in ICICI Bank, ITC and SBI amid a largely positive trend in global markets. The 30-share BSE index ended 138.59 points or 0.26 per cent higher at 52,975.80, while the broader NSE Nifty advanced 32 points or 0.20 per cent to 15,856.05. ICICI Bank was the top gainer in the Sensex pack, rising over 3 per cent, followed by ITC, SBI, HCL Tech, Axis Bank and Bajaj Finserv.