RIL, financials drag indices; Sensex tanks 667 pts, Nifty settles at 10,900
All that happened in the markets today
 "stocks, shares, market, sensex, nifty, BSE, INVESTORS, BROKERS")
The broader Nifty50, meanwhile, slipped below the crucial 11,000 level, and was at 10,938 level, down 135 points or 1.22 per cent.
Continuing its losing spree, the domestic stock market ended in the red for the fourth consecutive session on Monday, weighed down by Reliance Industries (RIL) and financial counters. Financial stocks tumbled as investors turned cautious ahead of the Reserve Bank of India (RBI) monetary policy meeting, which starts Tuesday (August 4) with the outcome due on August 6 (Thursday).
The S&P BSE Sensex today tumbled 667 points or 1.77 per cent to settle at 36,940. Of 30 constituents, 24 ended in the negative territory, and the rest 6 advanced. RIL, HDFC Bank, HDFC, and Infosys contributed the most to the index's loss.
NSE's Nifty slipped below the crucial 11,000 level to end at 10,900, down 174 points, or 1.57 per dent. Volatility index, India VIX, climbed 3.89 per cent to 25.13 levels, indicating increased volatility in the market.
Sectorally, Nifty Bank tumbled the most - down 505 points or over 2 per cent to 21,135 levels while Nifty Private Bank index slipped nearly 3 per cent to 11,531 levels. Nifty PSU Bank index, on the other hand, gained over 0.5 per cent to 1,419 levels.
In the broader market, the S&P BSE MidCap index fell 0.31 per cent to 13,717 and the S&P BSE SmallCap index gained over 1 per cent to 13,155.
Among individual stocks, shares of Bandhan Bank tumbled 12 per cent to Rs 304.2 on the BSE after nearly 21 per cent of the bank's equity changed hand on the NSE and BSE via block deals. READ MORE
Shares of Laurus Labs zoomed over 15 per cent to hit an all-time high of Rs 1,080 on the BSE during the day. The company last week had reported a strong set of numbers for the quarter ended June 2020. The stock ended at Rs 1,006, up nearly 8 per cent. READ MORE
Global markets
Sectorally, Nifty Bank tumbled the most - down 505 points or over 2 per cent to 21,135 levels while Nifty Private Bank index slipped nearly 3 per cent to 11,531 levels. Nifty PSU Bank index, on the other hand, gained over 0.5 per cent to 1,419 levels.
In the broader market, the S&P BSE MidCap index fell 0.31 per cent to 13,717 and the S&P BSE SmallCap index gained over 1 per cent to 13,155.
Among individual stocks, shares of Bandhan Bank tumbled 12 per cent to Rs 304.2 on the BSE after nearly 21 per cent of the bank's equity changed hand on the NSE and BSE via block deals. READ MORE
Shares of Laurus Labs zoomed over 15 per cent to hit an all-time high of Rs 1,080 on the BSE during the day. The company last week had reported a strong set of numbers for the quarter ended June 2020. The stock ended at Rs 1,006, up nearly 8 per cent. READ MORE
Global markets
European shares inched higher on Monday as German stocks outperformed on the back of improving Chinese manufacturing data, but a warning from Europe’s biggest lender HSBC over rising bad loans sent banking stocks lower.
In commodities, gold prices surged to an all-time high on Monday as fears about the economic fallout from rising Covid-19 cases boosted demand for the safe-haven metal, although gains were capped by an uptick in the US dollar.
Oil prices, on the other hand, fell on fears about the economic fallout from rising Covid-19 cases around the globe and on oversupply worries as OPEC and its allies are set to wind back output cuts in August.
(With inputs from Reuters)
3:53 PM![]()
Market Closing Comment :: Vinod Nair, Head of Research at Geojit Financial Services
Indian benchmark indices closed in the negative with losses, following mixed global cues. As virus cases continued to rise and with the uncertainty regarding rate actions by the RBI, markets succumbed to the momentum slowdown visible in the last couple of trading sessions. Losses were led by financials. Although momentum has slowed down, stock specific action is still happening, dependent mainly on the earnings results and commentary. As long as the markets hold the current range, these downturns could be shortlived and should be utilized to accumulate quality stocks.
3:38 PM
Market Snapshot at Close
3:37 PM
Sectoral trends on NSE at Close
3:35 PM
Sensex Heatmap at Close
3:33 PM
Closing Bell
3:32 PM
Closing Bell | Sensex ends over 650 pts lower
3:26 PM
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RIL, others are building their own 5G: What it means for telecom industry?
A silent revolution is sweeping the global telecom industry. For the first time, mobile operators are building their own 5G virtualised networks, breaking the stranglehold of incumbent telecom gear makers such as Ericsson, Nokia or Huawei.
The new networks are based on “open platforms”, are no longer hardware-centric and potentially much cheaper. READ MORE
3:22 PM
MARKET CHECK
3:12 PM![]()
NEWS ALERT:: Bandhan Bank confirms stake sale of 20.95% by promoter in block deal today
>> Consequent to the above transaction, the shareholding of NOFHC in the Bank has been reduced to 40 per cent of the total paid-up voting equity capital of the Bank which is in compliance with the aforesaid guidelines and the licensing conditions of the Bank.
(Source: BSE filing)
(Source: BSE filing)
3:10 PM
MARKET CHECK
3:01 PM
MARKET CHECK:: Top 5 gainers on the BSE at this hour
2:53 PM
INDEX GAINER:: Titan Co gains 4%
2:51 PM![]()
MARKET UPDATE
2:45 PM
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Investors no longer smiling as Colgate's market share worries weigh
The stock of Colgate-Palmolive India (Colgate), which had risen over 4 per cent on Wednesday after reporting better-than-expected June 2020 quarter (Q1) numbers, lost about 2 per cent in the next two trading sessions. This was due to concerns over toothpaste market share recovery. READ MORE
2:39 PM
NEWS ALERT :: Wockhardt announces Covid-19 vaccine partnership with UK govt
>> Co has entered into an agreement with the UK Government to fill finish Covid-19 vaccines
>> As per the terms of the agreement the company has reserved manufacturing capacity to allow for the supply of multiple vaccines to the UK Government in its fight against Covid-19, including AZD1222, the vaccine co-invented by the University of Oxford and its spinout company, Vaccitech and licensed by AstraZeneca.
(Via BSE filing)
>> As per the terms of the agreement the company has reserved manufacturing capacity to allow for the supply of multiple vaccines to the UK Government in its fight against Covid-19, including AZD1222, the vaccine co-invented by the University of Oxford and its spinout company, Vaccitech and licensed by AstraZeneca.
(Via BSE filing)
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First Published: Aug 03 2020 | 7:35 AM IST
