 "Consumer Durables outperform in a weak market; Nifty hovers near 8,550")
Consumer Durables extended gains on Friday and continued to outperform in an otherwise weak market weighed down by disappointing earnings from major corporates. Meanwhile, investors are keenly awaiting results of index heavyweight Reliance Industries and private lender Axis Bank.
At 1:30PM, the 30-share Sensex was down points at and the 50-share Nifty was down points at
In the broader market, the BSE Mid-cap and Small-cap indices were trading with marginal gains. Market breadth was weak with 1,369 losers and 1,188 gainers on the BSE.
RUPEE
The Indian rupee was trading continued to trade weak against the US dollar. The rupee was trading lower at 63.94 to the US dollar following the appreciation of the greenback against major world currencies on expectation of a rate hike by the US Fed.
RESULTS CORNER
Axis Bank, Reliance Inds, ABB, Bharat Electronics, Crompton Greaves, Kolte Patil Developers, Mahindra Finance, Supreme Inds and TVS Motors are some of the companie that will announce their April-June 2015 earnigns today.
SECTORS & STOCKS
BSE Consumer Durables index was the top gainer up nearly 1% on hopes that GST Bill would be passed in the current monsoon session of parliament. Consumer Duradles sector will be the biggest beneficiary of the GST. Capital Goods, Realty, Bankex, Auto were among the top losers.
Among consumer durables, Titan, Rajesh Exports and PC Jeweller were among the top gainers.
Wipro was down over 3%. The IT major posted a 4% rise in its net profit to Rs 2,187.8 crore when compared with the corresponding quarter in 2014-15. The revenue at Rs 12,237 crore rose 10 %. On a sequential basis, net profit declined by 3.7% while revenue was largely flat when compared with Rs 12,142 crore in Q4 of FY15. The stock is down by 3.3%
GAIL was down 2.5%. The company reported a 32% slump in net profit for the quarter ended June 2015 on lower production and price realization. The company reported a net profit of Rs 424.14 crore during the quarter as compared to Rs 621.44 crore during the same period last financial year (2014-15).
Axis Bank was up 0.5% while Reliance Industries was down 0.5% ahead of their April-June earnings later today.
Lupin was down 1.4%. Impacted by lower revenue from the US market, drug maker Lupin reported a 16% year-on-year drop in its consolidated net profit for the quarter ended June.
ICICI Bank, Tata Motors and Infosys were among the other Sensex losers.
Sensex gainers include, HDFC, TCS, HDFC Bank, Sun Pharma and Cipla among others.
Among other shares, shares of International Paper APPM has dipped 8% to Rs 309 on the NSE after the company announced that Andhra Pradesh Pollution Control Board (APPCB) has issued a closure order to the manufacturing facility located at Rajahmundry, East Godavari district in Andhra Pradesh.
Shares of PVR dipped 9% to Rs 775 on the National Stock Exchange (NSE) in early morning trades after huge block deals executed on the counter.
At 1:30PM, the 30-share Sensex was down points at and the 50-share Nifty was down points at
In the broader market, the BSE Mid-cap and Small-cap indices were trading with marginal gains. Market breadth was weak with 1,369 losers and 1,188 gainers on the BSE.
More From This Section
Foreign portfolio investors were net buyers in equities to the tune of Rs 185 crore yesterday as per provisional data released by the stock exchanges.
RUPEE
The Indian rupee was trading continued to trade weak against the US dollar. The rupee was trading lower at 63.94 to the US dollar following the appreciation of the greenback against major world currencies on expectation of a rate hike by the US Fed.
RESULTS CORNER
Axis Bank, Reliance Inds, ABB, Bharat Electronics, Crompton Greaves, Kolte Patil Developers, Mahindra Finance, Supreme Inds and TVS Motors are some of the companie that will announce their April-June 2015 earnigns today.
SECTORS & STOCKS
BSE Consumer Durables index was the top gainer up nearly 1% on hopes that GST Bill would be passed in the current monsoon session of parliament. Consumer Duradles sector will be the biggest beneficiary of the GST. Capital Goods, Realty, Bankex, Auto were among the top losers.
Among consumer durables, Titan, Rajesh Exports and PC Jeweller were among the top gainers.
Wipro was down over 3%. The IT major posted a 4% rise in its net profit to Rs 2,187.8 crore when compared with the corresponding quarter in 2014-15. The revenue at Rs 12,237 crore rose 10 %. On a sequential basis, net profit declined by 3.7% while revenue was largely flat when compared with Rs 12,142 crore in Q4 of FY15. The stock is down by 3.3%
GAIL was down 2.5%. The company reported a 32% slump in net profit for the quarter ended June 2015 on lower production and price realization. The company reported a net profit of Rs 424.14 crore during the quarter as compared to Rs 621.44 crore during the same period last financial year (2014-15).
Axis Bank was up 0.5% while Reliance Industries was down 0.5% ahead of their April-June earnings later today.
Lupin was down 1.4%. Impacted by lower revenue from the US market, drug maker Lupin reported a 16% year-on-year drop in its consolidated net profit for the quarter ended June.
ICICI Bank, Tata Motors and Infosys were among the other Sensex losers.
Sensex gainers include, HDFC, TCS, HDFC Bank, Sun Pharma and Cipla among others.
Among other shares, shares of International Paper APPM has dipped 8% to Rs 309 on the NSE after the company announced that Andhra Pradesh Pollution Control Board (APPCB) has issued a closure order to the manufacturing facility located at Rajahmundry, East Godavari district in Andhra Pradesh.
Shares of PVR dipped 9% to Rs 775 on the National Stock Exchange (NSE) in early morning trades after huge block deals executed on the counter.