MARKET WRAP: Sensex tanks 661 pts, Nifty Bank slips 3%; India VIX jumps 6%

All that happened in the markets today

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai (Photo: Kamlesh Pednekar)

1:49 PM

Infosys Q1 preview: Revenue may dip 4%; magnitude of pricing pressure eyed

After peers Tata Consultancy Services (TCS) and Wipro, Infosys is scheduled to release its financial results for the April – June quarter of the fiscal year 2020-21 (Q1FY21) on Wednesday, July 15. The IT is expected to report subdued numbers due to disruptions caused by the Covid-19 pandemic. Meanwhile, the fall in the earnings before interest and tax (EBIT) margin could be limited due to the benefit from rupee depreciation, cut in travel costs, and optimisation on variable costs, according to analysts. READ MORE

1:43 PM

NEWS ALERT :: TDSAT refuses to stay TRAI order directing discontinuation of premium plan

>> TDSAT allows Trai time to file reply to Vodafone Idea’s plea challenging TRAI directions.

>> Case likely to be heard on July 16.

Alert: TDSAT is Telecom Disputes Settlement and Appellate Tribunal

Vodafone Idea on Monday had moved the TDSAT against the TRAI notice putting the premium plans on hold

1:35 PM

Arvind Fashions falls for 5th straight day ahead of closure of rights issue

Shares of Arvind Fashions were locked in 5 per cent lower circuit at the bourses for the second straight day, down 5 per cent at Rs 149.25 on the BSE on Tuesday, ahead of the closure of its rights issue. The stock of the branded apparel company dipped for the fifth straight day, and has fallen 15 per cent during this period. Till 12:54 pm, a combined around 41,000 equity shares had changed hands and there were pending sell orders for 270,000 shares on the NSE and BSE. READ MORE

Arvind Limited, Arvind fashions limited, branded apparel, retail, engineering, textiles, retail business, anup engineering

1:35 PM

Liquidity measures help reduce financing cost in corporate bond mkt: RBI

Yields have dropped and the spreads have compressed despite foreign portfolio investment (FPI) outflows of around $3 billion from corporate bonds in 2020, it said.

Over the past few months, RBI infused liquidity through long-term repo operations (LTROs), targeted long term repo operations (TLTROs), TLTRO 2.0, special refinance facilities to NABARD, SIDBI, NHB and Exim Bank, and a special liquidity facility for mutual funds. READ MORE

1:25 PM

Sensex Heatmap at this hour

1:14 PM

European indices open lower

1:13 PM

NEWS ALERT | RBI may relax provisioning norms for banks amid Covid-19 crisis: Agencies

1:05 PM

MARKET UPDATE:: Sensex falls below 36,000

12:59 PM

MARKET UPDATE:: Nifty breaches 10,600

12:58 PM

SECTOR WATCH:: Nifty Pharma index trades in the green in an otherwise weak market

12:57 PM

Securitisation volume dips 85% to Rs 6,200 cr in Q1FY21 on slow collections

The Securitisation volume plunged by 85 per cent to Rs 6,200 crore in the first quarter ended June 2020 (Q1FY21) on slow collections following the lockdown in India. The loan moratorium also impacted volumes, according to rating agency CRISIL.

However, in stark contrast with the overall market performance, transactions backed by gold-loan receivables bucked the trend. They comprised nearly half of the total securitisation transactions in the first quarter. READ MORE