Sensex snaps 3-day losing run, up 481 pts; Nifty holds 19,500; SBI down 3%

Closing Bell on August 4: Among sectors, the Nifty IT index added 1.45 per cent, while the Nifty PSU Bank index fell 0.86 per cent

Stock market highlights: Domestic equities snapped their three-day losing streak on Friday, recovering from the blow seen across global equities due to credit rating downgrade of the US by Fitch. The S&P BSE Sensex settled 480.5 points, or 0.74 per cent, higher at 65,721 levels.

The Nifty50, too, reclaimed the 19,500-mark as it shut ahop at 19,517, up 135 points or 0.70 per cent. 30 stocks from the pack ended in the positive zone led by Cipla (up 3.5 per cent), IndusInd Bank, Tech M, Bharti Airtel, Wipro, HCL Tech, Axis Bank, Coal India, HDFC Life, LTI Mindtree, SBI Life, TCS, HDFC Bank, and Reliane Industires. 

On the downside, State Bank of India declined 3 per cent, Bajaj Auto (2.5 per cent), BPCL, NTPC, Maruti Suzuki, and Eicher Motors. 

In the broader market, the BSE MidCap and SmallCap indices rose in tandem with the frontline indices, rising about 0.65 per cent each.

Among sectors, the Nifty IT index added 1.45 per cent, while the Nifty PSU Bank index fell 0.86 per cent.

IPO Update

SBFC Finance: The issue was subscribed 4.6 times till 3:30 PM on the second day of the offer. NII portion was subscribed the most (10 times), followed by retail portion (4.4 times).

Concord Biotech: The IPO was subscribed 39 per cent till 3:30 PM on first day of the offer. Employees portion was booked 4.8 times, while retail and NII portion was booked 54 per cent each. 

4:14 PM

COMMENT:: Q1 earnings a positive; Increasing US bond yields a worry

"Positive earnings reports provided a much-needed boost to the domestic market, aiding its recovery from the impact of weak global cues. The pharma sector sustained its positive momentum, with the trend being extended by the IT and banking stocks. However, increasing US bond yields continued to distract the global market, impeding the inflow of foreign funds into the domestic market."

 

- Vinod Nair, Head of Research at Geojit Financial Services

4:12 PM

Laptop import curbs lift EMS stocks but analysts warn of jumping the gun

In the June quarter, electronics became India's fourth-largest exported item overtaking chemicals, drugs and pharmaceuticals. This surge was led by mobile phones aided by 2020 PLI scheme. READ MORE

4:10 PM

Bank of Baroda to report Q1FY24 results on Aug 5; here's what to expect

Bank of Baroda Q1FY24 results preview: Analysts expect growth in personal loan book to remain robust, taking the total loan book to Rs 9.61 trillion. READ MORE

4:10 PM

Concord Biotech IPO off to a slow start, subscribed 44 per cent as of 4 PM on Day 1

Jhunjhunwala-backed Concord Biotech IPO commanded a 20 per cent premium in the grey market, as per ipowatch.com. Here's what analysts say. READ MORE

 

4:07 PM

SBFC Finance IPO subscribed 6.1 times as of 4 PM on Day 2

4:03 PM

IRFC marches to new high; stock zooms 38% in a week on stable outlook

The company will continue to receive timely funding from the government through favourable lease agreement, owing to its strategic role as a dedicated funding arm of Indian Railways. READ MORE

4:01 PM

Lupin hits 2-year high on strong Q1 results; zooms 66% since April

With clearance of Pithampur Unit-2, the company expects to add product approvals for the US region. READ MORE

 

4:00 PM

LIC Housing Finance hits 10-month high on 43% YoY net profit growth in Q1

In the past one year, this non-banking financial services (NBFC) stock has surged 16 per cent, as against a 12 per cent jump in the S&P BSE Sensex. READ MORE

3:58 PM

Paytm gains 4% as loan disbursements more-than-double in July to Rs 5,194 cr

During the month of July, Paytm catered to 93 million average monthly transacting users (MTU), up 19 per cent year-on-year (YoY). READ MORE

3:57 PM

Dabur advances 2%, nears 52-week high as Q1 results boasts of rural recovery

According to the management, with a little negative impact from beverage portfolio, mid-single volume growth should be possible in the near term in the India business. READ MORE

3:56 PM

Cipla hits new high; gains 4% on promoter stake sale buzz, strong Q1 results

With regards to the promoters stake sale buzz, the company said it will make appropriate disclosure in compliance with the Listing Regulations as and when any such requirement arises. READ MORE

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3:54 PM

Eicher Motors rallies 3% in intra-day deals on record Q1 earnings

The company's net profit jumped 50 per cent YoY to Rs 918 crore, its highest-ever quarterly profit; backed by a 17 per cent growth in revenue at Rs 3,986 crore. READ MORE

3:52 PM

Zomato zooms 11% after firm turns profitable for first-time in June quarter

Food aggregator platform company reported a consolidated profit after tax of Rs 2 crore compared to a loss of Rs 186 crore in the year-ago period. READ MORE

3:50 PM

ALERT:: Rupee ends weaker, down 11 paisa at 82.84/$

Source: Bloomberg.com

3:49 PM

Market breadth was fairly positive; Over 2,200 shares advanced vs 1,330 declining stocks on the BSE