MARKET WRAP: Sensex slips 143 pts amid weak global cues; financials decline

All that happened in the markets today

12:42 PM

NEWS ALERT :: Tata Motors Group global wholesales at 91,594 in Q1FY21

>>  Tata Motors Group global wholesales in Q1FY21, including Jaguar Land Rover, were at 91,594 units, down 64% YoY

>> Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range: 11,598, down 89% YoY

>> Global wholesales of all passenger vehicles: 79,996 down 49% YoY

 

12:32 PM

HDFC twins, ICICI Bank top contributors to Sensex's 300-point fall today

12:24 PM

MARKET CHECK :: Sensex tumbles 300 pts

12:17 PM

INDEX GAINER:: Sun Pharma surges over 2.6%

12:15 PM

Metal stocks can outperform the market. Here are a few trading strategies

NIFTY METAL: The index is continuously attempting to conquer the upward resistance of 2,150 decisively. The volumes have slowed down a little, but the price is holding the momentum strong. The support remains at 2,000 levels. If the RSI crosses 65 mark, then the strength may see the index rally towards the 2,300 mark. The overall trend indicates a positive bias. READ MORE

12:04 PM

NEWS ALERT:: YES Bank announces floor price of Rs 12 and cap price of Rs 13 for FPO issue

11:58 AM

Voda Idea dips 3% amid report of default on payments to telecom tower cos

Shares of Vodafone Idea on Friday declined as much as 3.84 per cent to Rs 9.01 on the on report that the company has defaulted on rental and energy payments for June to telecom tower companies. According to a senior executive of a telecom tower firm, Vodafone Idea cited payment of adjusted gross revenue (AGR) to the government and the resultant cash flow problems for the default. “The company usually pays its dues by 3rd of every month, but this month we have not received any money. READ MORE 

11:47 AM

People's Bank of China sells stake in HDFC in June quarter following furore

PBOC is no longer a shareholder in HDFC as per the June 2020 quarter shareholding disclosure made by the Mumbai-based financial services behemoth. During the quarter ended March 2020, PBOC held 17.5 million shares, or 1.01 per cent stake in HDFC, valued at Rs 3,300 crore at current market rate. READ MORE

11:43 AM

Firstsource Solutions up 10% as Rakesh Jhunjhunwala increases stake in Q1

Rakesh Jhunjhunwala has acquired an additional 5.7 million shares, representing 0.82 per cent stake of FSL, during the recently concluded quarter, according to June quarter shareholding pattern disclosed by the company on the stock exchanges. Post acquisition, Jhunjhunwala’s stake in the leading provider of customised Business Process Management (BPM) Services Company has increased to 2.88 per cent in June quarter from 2.06 per cent at the end of March quarter. READ MORE 

11:38 AM

Nifty dominance by top stocks at a record, four sectors grab lion's share

The dominance of top stocks on the Nifty50 index touched an all-time high, with the top five stocks comprising nearly 42 per cent of the index weighting and the top 10 accounting for more than 62 per cent.

 

The respective weighting stood at 37.1 per cent and 56.4 per cent two years ago when polarisation — a phenomenon where money chases select stocks — began to gain ground. READ MORE

11:26 AM

After dismal June quarter numbers, TCS gives high hopes to investors

While Tata Consultancy Services (TCS’) June 2020 quarter (Q1) numbers did not meet the Street’s expectations, it surely set high hopes for investors. While in Q1, TCS’ revenues inched up by 0.4 per cent year-on-year to Rs 38,322 crore, its profit before tax declined by 10.7 per cent year-on-year to Rs 9,504 crore. READ MORE

11:14 AM

MARKET CHECK:: Top 5 gainers on the BSE at this hour

11:14 AM

Pharma shares gain; Biocon, Granules hit record highs, Sun Pharma up 3%

Shares of pharmaceutical companies rallied up to 6 per cent on Friday in an otherwise range-bound market amid expectations that growth is picking up in the sector after two consecutive months of decline. According to a report by ICICI Direct, the Indian Pharma market is back in the green posting 2.4 per cent YoY growth in June 2020. READ MORE

11:06 AM

STOCK ALERT :: Granules India hits record high

10:59 AM

BROKERAGE VIEW:: ICICI Securities on Cement sector

The major demand driving force has been the rural and semi-urban segment, which kept the demand momentum pretty strong as it has been least impacted by Covid and also on account of bumper Rabi season estimated this year while urban construction activities continued to remain weak due to labour migration and extended lockdown. Hence, for Q1FY21E, I-direct cement coverage universe is expected to report ~30% decline in sales volume to 33.4 MT.