Benchmarks settle flat, Nifty ends at 11,300; Bharti Airtel slips over 2%
All that happened in the markets today
 "stock market, Sensex, BSE, Nifty")
Among sectoral indices on the NSE, Nifty PSU Bank index fell the most - down 1 per cent.
The benchmark indices ended on a flat note with negative bias for the second straight session on Thursday amid selling in financial and pharma counters. The S&P BSE Sensex ended at 38,310 levels, down 59 points or 0.15 per cent while NSE's Nifty ended at 11,300, down 0.07 per cent.
The broader market, however, outperformed the benchmark indices. The S&P BSE MidCap index ended 1.6 per cent higher at 14,583 levels while the S&P BSE SmallCap index settled at 13,940, up 0.76 per cent.
Among Sensex constituents, Bharti Airtel (down over 2 per cent) ended as the biggest loser on the index after reports said that MSCI reduced the weight of the stock in its MSCI India and MSCI EM indices by half. The reports, however, further said MSCI reduced the weight of the stock on wrong market data.
Larsen & Toubro (up over 4 per cent), on the other hand, emerged as the top gainer on the index.
Among sectoral indices on the NSE, Nifty PSU Bank index fell the most - down 1 per cent, followed by Nifty Pharma (down 0.97 per cent), and Nifty Bank (down 0.3 per cent). On the other hand, Nifty Auto surged 1.22 per cent to 7,879.75 levels while Nifty Metal index gained over 1 per cent to 2,380.65 points.
Buzzing stocks
Shares of Tata Consumer Products rallied nearly 5 per cent to hit a fresh record high of Rs 542.90 apiece on the BSE. With today's rally, the company surpassed the fast-moving consumer goods (FMCG) major Marico in terms of market capitalisation (m-cap). READ MORE
Shares of Ashok Leyland ended over 13 per cent higher at Rs 61 on the BSE after the company said it expects Q3 and Q4 of financial year 2020-21 (FY21) to be better than the previous quarters while margins are also expected to rise going ahead.
Shares of Aurobindo Pharma dipped 5.64 per cent to Rs 881.30 on the BSE despite the company reporting a 22.81 per cent year-on-year (YoY) rise in its consolidated net profit to Rs 780.68 crore for the quarter ended on June 30, 2020, mainly on account of robust sales in the US market. READ MORE
Global markets
Japanese stocks soared to a six-month peak and the dollar was under pressure on Thursday as investors picked positives out of recent economic data and bet on China and the United States sticking with their trade deal at a crucial weekend meeting.
Among Sensex constituents, Bharti Airtel (down over 2 per cent) ended as the biggest loser on the index after reports said that MSCI reduced the weight of the stock in its MSCI India and MSCI EM indices by half. The reports, however, further said MSCI reduced the weight of the stock on wrong market data.
Larsen & Toubro (up over 4 per cent), on the other hand, emerged as the top gainer on the index.
Among sectoral indices on the NSE, Nifty PSU Bank index fell the most - down 1 per cent, followed by Nifty Pharma (down 0.97 per cent), and Nifty Bank (down 0.3 per cent). On the other hand, Nifty Auto surged 1.22 per cent to 7,879.75 levels while Nifty Metal index gained over 1 per cent to 2,380.65 points.
Buzzing stocks
Shares of Tata Consumer Products rallied nearly 5 per cent to hit a fresh record high of Rs 542.90 apiece on the BSE. With today's rally, the company surpassed the fast-moving consumer goods (FMCG) major Marico in terms of market capitalisation (m-cap). READ MORE
Shares of Ashok Leyland ended over 13 per cent higher at Rs 61 on the BSE after the company said it expects Q3 and Q4 of financial year 2020-21 (FY21) to be better than the previous quarters while margins are also expected to rise going ahead.
Shares of Aurobindo Pharma dipped 5.64 per cent to Rs 881.30 on the BSE despite the company reporting a 22.81 per cent year-on-year (YoY) rise in its consolidated net profit to Rs 780.68 crore for the quarter ended on June 30, 2020, mainly on account of robust sales in the US market. READ MORE
Global markets
Japanese stocks soared to a six-month peak and the dollar was under pressure on Thursday as investors picked positives out of recent economic data and bet on China and the United States sticking with their trade deal at a crucial weekend meeting.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 per cent, while gains in semiconductor makers drove Japan's Nikkei 1.8 per cent higher to a six-month peak.
Euro STOXX 50 futures were last down 0.1 per cent, FTSE futures slipped 0.7 per cent and S&P 500 futures ESc1 were down 0.1 per cent.
In the commodity market, crude oil prices fell after OPEC said it expected demand to drop more than expected, although data showing a decline in US inventories lent support.
(With inputs from Reuters)
3:44 PM
SECTOR WATCH:: Auto, metal stocks rally in the trade
3:42 PM
MARKET AT CLOSE:: Losers and gainers on the S&P BSE Sensex
3:36 PM
CLOSING BELL
The S&P BSE Sensex fell 59 points, or 0.15 per cent to end at 38,310.49 while NSE's Nifty ended at 11,300.45, down 8 points or 0.07 per cent.
3:29 PM
MARKET CHECK
3:21 PM
BROKERAGE VIEW:: Centrum Broking on Sundaram Finance
Sundaram Finance (SUF) earnings were largely in-line. NII at Rs 3.8bn came in as expected though a drop in fee income led to a miss on PPoP. Healthy NIM trajectory was intact with incremental funding cost trending downwards. AuM growth declined by 1.3% YoY as disbursements saw a steep drop though repayments were higher which was a positive. Disbursements and collection efficiency are picking up. Asset quality was contained sequentially though Covid-19 provisions were Rs 1.1bn taking the total COVID-19 reserve to Rs1.37bn (appropriation of profits). The average moratorium is 55% though moratorium -1 to 2 saw a drop from ~65% to ~45%. See RoA/RoE scale up to 2.2%/13.6% in FY22E. Maintain BUY with SOTP based TP at Rs 1,450.
3:13 PM
MARKET CHECK: Top 5 losers on the BSE at this hour
3:12 PM
Nifty PSU Bank index dips 1%
3:01 PM
NEWS ALERT :: L&T Construction bags order for projects worth Rs 1,000-2,500 cr
2:54 PM
Hero MotoCorp trades higher ahead of June qtr results
2:44 PM
» More on 52 Week High
Stocks that hit 52-week high on BSE today
| COMPANY | PRICE(rs) | 52 WK HIGH | CHG(%) |
|---|---|---|---|
| ALKYL AMINES | 2815.10 | 2845.00 | 4.95 |
| BALKRISHNA INDS | 1376.95 | 1396.80 | -0.03 |
| GALAXY SURFACT. | 1870.00 | 1944.40 | 8.26 |
| GUJARAT GAS | 326.25 | 331.20 | 1.68 |
| HCL TECHNOLOGIES | 723.95 | 728.80 | 1.00 |
2:38 PM
Nifty Auto index trades as top performer on NSE
2:25 PM
Tata Consumer Products overtakes Marico in m-cap; stock scales fresh peak
Tata Consumer Products reported an 81.78 per cent year-on-year (YoY) rise in its net profit at Rs 345.55 crore for the quarter ended June (Q1FY21), aided by an increase in demand in some categories. Revenue from operations was up 13.44 per cent to Rs 2,713.91 crore as against Rs 2,392.36 crore in the corresponding period of the last fiscal. READ MORE
2:17 PM
NEWS ALERT :: SC likely to hear AGR case tomorrow at 3 pm
2:12 PM
Rupee Closing
Rupee ends flat vs Wednesday's close of 74.83 per US dollar
2:00 PM
June Quarter Result :: GAIL reports consolidated net profit of Rs 643 cr
>> Consolidated revenue of Rs 12,174 crore
>> Cons EBITDA at Rs 693.7 crore
>> Cons EBITDA at Rs 693.7 crore
Topics : Coronavirus Markets Ashok Leyland Aurobindo Pharma Hero MotoCorp Eicher Motors BPCL Indiabulls Housing Finance MARKET WRAP
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First Published: Aug 13 2020 | 7:28 AM IST
