Nifty ends marginally lower but holds above 10,000 , up 1% for week

Catch all that happened in the market here

The benchmark Nifty50 pared losses in last leg of trade to end the first day of August series above 10,000-mark, up 1% for the week.  Sensex, on the other hand, also ended marginally lower for the day but up 1% for the week. The street was dragged down by after DrReddy's extended fall for the second straight day post weaker Q1 quarterly earnings. Negative cues from Asian markets after US tech shares pulled Wall Street slightly lower also contributed to the losses. 

Focus now shifts to Reserve Bank of India’s two-day monetary policy meeting, which is set to begin next week on Tuesday, while the outcome is expected on Wednesday.

3:49 PM

Analyst view:

 

Vinod Nair, Head of Research, Geojit Financial Services 

 

Market retreated from high due to subdued result from banking stock and consumer discretionary, while pharma continued to taste the bitterness in earnings owing to US FDA inspection and pricing pressure. This consolidation may continue in the near-term but investors may start accumulating due to surplus liquidity and likely change in RBI's stance with a 25bps rate cut in the next week policy meet.

3:43 PM

Top sectoral gainers and losers

Source: NSE

3:41 PM

HDFC, Infosys, Kotak Mahindra Bank, Adani Ports and ONGC gained the most on BSE Sensex while Dr Reddy's, Sun Pharma, Lupin, ICICI Bank and HeroMoto Corp lost the most on the index

3:39 PM

Top weekly gainers: YES Bank (up 16.75%), HDFC (8.8%), HDFC Bank (4.4%), Indusind Bank (3.9%) and Adani Ports (3.6%)

3:35 PM

Top weekly losers: ITC (down 14.4%), De Reddy's (down 9%), Lupin (down 6.5%), Ultratech Cement (down 4.7%), HeroMoto Corp (down 3.3%)

3:34 PM

Sensex settled the day at 32,309, down 73 points, while the Nifty50 ended at 10,014, down 6 points. 

 

Broader markets outperformed benchmark indices with BSE Midcap and BSE Smallcap, up 0.5% and 0.4% respectively.

3:25 PM

HDFC, Infosys, ITC lead the markets to recovery in the last leg of trade

3:21 PM

Global market check:

 

Asian stock markets sagged on Friday after US tech shares retreated from recent rallies, though optimism about US corporate earnings and the global economy underpinned overall sentiment.

 

MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.1%, erasing almost all of its weekly gains, with Samsung Electronics, Asia's largest company by market capitalisation, dropping 4.4%. Japan's Nikkei shed 0.6%.

3:14 PM

Karachi stock exchange extends falls over 1300 points to 44235.94

Source: Pakistan Stock Exchange

3:08 PM

Markets erase some losses

At 3:05 pm, the Sensex was trading at 32,299, down 84 points, while the Nifty50 was ruling at 10,011 down 9 points. 

Broader markets outperformed benchmark indices with BSE Midcap and BSE Smallcap up 0.4% and 0.3% respectively.

2:47 PM

Top Sensex gainers and losers

Source: BSE

2:02 PM

YES Bank extended gains gains for ninth straight day, hits new high. The stock has gained over 60% YTD

1:42 PM

Markets extend fall 

Extending losses on poor quarterly earnings, Sensex fell over 250 points while the broader Nifty50 index tested the crucial 9,950 levels.

1:33 PM

Once 'fragile' India gets thumbs up from foreign investors

 

India is widely expected next week to be the first country in Asia to cut policy rates this year.

 

And rather than being concerned at India's falling policy rate premium over the United States, foreign investors are giving the country's markets the thumbs up.

 

The rupee is rallying and the country's bonds are in demand, offering some of the best inflation-adjusted returns in Asia. Inflation, long a thorn in the economy, is at its lowest in five years.

 

Click here for detailed report

 

1:16 PM

Karachi Stock Exchange tanked over 700 points to 45186.28 after the country’s Supreme Court disqualified three-time Prime Minister Nawaz Sharif on charges of corruption in the Panama Papers case. Click here for full report