A divergent trend was seen as the Sensex ended with small gains while the Nifty 50 index ended with minor losses. The barometer index, the S&P BSE Sensex, rose 33.13 points or 0.09% to settle at 36,858.23. The Nifty 50 index fell 2.30 points or 0.02% to settle at 11,132.
A bout of volatility was seen in early trade as stocks regained positive zone soon after erasing intraday gains. A divergent trend was witnessed in morning trade as the barometer index, the S&P BSE Sensex, was trading with small gains while the Nifty 50 index was trading with minor losses. Divergent trend continued in mid-morning trade. Indices pared gains after hitting fresh intraday high in afternoon trade with the Sensex scaling record high. Stocks hovered in a small range with positive bias in mid-afternoon trade. Indices once again regained positive zone in volatile trade after sinking in negative zone.
The Sensex rose 33.13 points or 0.09% to settle at 36,858.23, its record closing high. The index rose 122.08 points, or 0.33% at the day's high of 36,947.18. The index fell 21.95 points, or 0.06% at the day's low of 36,803.15.
The Nifty 50 index fell 2.30 points or 0.02% to settle at 11,132, its lowest closing level since 23 July 2018. The index rose 22.85 points, or 0.21% at the day's high of 11,157.15. The index fell 21.05 points, or 0.19% at the day's low of 11,113.25.
The S&P BSE Mid-Cap index fell 0.12%, underperforming the Sensex. The S&P BSE Small-Cap index rose 0.23%, outperforming the Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1374 shares rose and 1261 shares fell. A total of 153 shares were unchanged.
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Among the sectoral indices on BSE, the S&P BSE Power index (down 1.52%), the S&P BSE Realty index (down 1.32%), the S&P BSE Telecom index (down 1.11%), the S&P BSE Utilities index (down 1.08%), the S&P BSE Consumer Durables index (down 0.98%), the S&P BSE Teck index (down 0.51%), the S&P BSE Auto index (down 0.44%), the S&P BSE Consumer Discretionary Goods & Services index (down 0.38%), the S&P BSE Healthcare index (down 0.36%), the S&P BSE IT index (down 0.34%), the S&P BSE Capital Goods index (down 0.18%) and the S&P BSE Industrials index (down 0.07%), underperformed the Sensex. The S&P BSE FMCG index (up 0.13%), the S&P BSE Bankex (up 0.14%), the S&P BSE Energy index (up 0.17%), the S&P BSE Oil & Gas index (up 0.18%), the S&P BSE Basic Materials index (up 0.24%), the S&P BSE Finance index (up 0.46%) and the S&P BSE Metal index (up 0.82%), outperformed the Sensex.
NTPC (down 4.01%), Axis Bank (down 2.59%), Power Grid Corporation of India (down 1.49%), Bharti Airtel (down 1.28%) and Mahindra & Mahindra (down 1.19%), were the major Sensex losers.
State Bank of India (up 1.78%), Adani Ports & Special Economic Zone (up 1.53%), Tata Steel (up 1.49%), Vedanta (up 1.30%), ONGC (up 1.21%), IndusInd Bank (up 0.95%), ITC (up 0.63%) and HDFC Bank (up 0.61%), were the major Sensex losers.
Engineering and construction major Larsen & Toubro (L&T) shed 0.19%. Consolidated profit after tax (PAT) rose 36% to Rs 1215 crore in Q1 June 2018 over Q1 June 2017. The consolidated order book stood at Rs 271,732 crore as at 30 June 2018. International Order Book constituted 23% of the total order book. The result was announced after market hours today, 25 July 2018.
Index heavyweight and housing finance major HDFC rose 1.07%. The company announced after market hours yesterday, 24 July 2018, that in the proposed meeting on 30 July 2018, the company's board will consider raising up to $1.5 billion via external commercial borrowing (ECB). The company had earlier announced that its board will meet on 30 July 2018, to consider Q1 June 2018 results, and approve issuance of secured redeemable non-convertible debentures aggregating to Rs 35000 crore on a private placement basis, subject to approval of shareholders of the corporation.
Maruti Suzuki India shed 0.64%. Maruti Suzuki India will proactively and voluntarily undertake a recall for new Swift and new Dzire models to inspect for a possible fault in the Airbag Controller Unit. 1,279 vehicles (566 new Swift and 713 new Dzire) manufactured between 7 May 2018 and 5 July 2018 will be covered in this campaign. Recall campaigns are undertaken globally to rectify faults that may be potential safety defects. The announcement was made during market hours today, 25 July 2018.
Sun Pharmaceutical Industries fell 0.72%. Sun Pharmaceutical Industries including its subsidiaries and/or associate companies) today announced that one of its wholly owned subsidiaries has launched the generic versions of Glumetza (metformin hydrochloride) extended release tablets, 500 mg and 1000 mg in the US. The announcement was made during market hours today, 25 July 2018.
These generic Metformin HCl extended release tablets, 500mg and 1000mg are therapeutic equivalents of Santarus Inc.'s Glumetza HCl extended release tablets, 500 mg and 1000 mg. The addressable market size is approximately US$443 million for the 12 months ended April 2018, as per IQVIA.
Ambuja Cements fell 1.50% ahead of its April-June 2018 earnings today, 25 July 2018.
Hero MotoCorp rose 0.34% ahead of its April-June 2018 earnings today, 25 July 2018.
Asian Paints fell 1.45%. On a consolidated basis, Asian Paints' net profit rose 29.63% to Rs 571.31 crore on 15.07% increase in net sales to Rs 4390.27 crore in Q1 June 2018 over Q1 June 2017. The result was announced after market hours yesterday, 24 July 2018.
Symphony lost 19.34% after consolidated net profit fell 48.72% to Rs 20 crore on 23.16% decline in net sales to Rs 146 crore in Q1 June 2018 over Q1 June 2017. The result was announced after market hours yesterday, 24 July 2018.
Overseas, most European declined on Wednesday, as investors awaited a key meeting between the European Commission and President Donald Trump and digested fresh earnings. Asian stocks were mixed. Meanwhile, Beijing on Tuesday reportedly signalled that it would shift to a looser fiscal policy in a bid to protect the world's second largest economy from the impact of an escalating trade row with Washington. US equity benchmarks finished Tuesday mostly higher, led by technology and health-care companies.
Investor sentiment was cautious ahead of a meeting between president of the European Commission, Jean-Claude Juncker, and Trump at the White House in Washington. During the gathering, the two leaders are expected to discuss a range of topics including trade relations the latter will be watched closely following a recent trade spat between the two regions.
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