Nifty ends lower but manages to hold 10,000-mark; all indices settle in red

Catch all that happened in the market here

3:51 PM

Analyst View

 

Vinod Nair, Head of Research, Geojit Financial Services said: Disappointed by yesterday's decision of the central bank, interest rate sensitive stocks were under pressure today. If RBI has shifted its stance from neutral to accommodative the extent of the impact could have been minimal. 

 

Additionally, market is exposed to profit-booking measure given lofty valuation and start of subdued performance for Q1FY18 from tier-2 companies which are impacted by the double whammy of Demo and GST.

3:47 PM

Nifty chart for the day

Source: NSE

3:44 PM

Global Check

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7%, with South Korea's tech-heavy Kospi index slumping 1.7% to its lowest level in over three weeks. Seoul shares took an additional hit from President Moon Jae-in's new tax plan.

 

Japan's blue-chip Nikkei stock index closed down 0.3%.

 

European stock markets opened broadly lower, Germany's DAX slipping 0.6% and France's CAC 0.4% lower. Britain's FTSE was down 0.2%.

3:42 PM

Nifty PSU Bank index

Source: NSE

3:40 PM

Other indices that slipped in trade included Nifty Metal (down 1.9%), Nifty Fin Services (down 1.3%) and Nifty Pharma (down 1.2%)

3:39 PM

All indices ended in red dragged mainly by the banking sector. Nifty PSU Bank index fell 2.9% while Nifty Bank and Nofty Pvt Bank indices lost 1.5% and 1.6% respectively

3:38 PM

In broader markets, BSE Midcao and BSE Smallcap indices end 0.5% and 0.9% lower respectively

3:37 PM

Lupin, Coal India, SBI, CIpla and ICICI Bank were the top losers on BSE Sensex while Bharti Airtel, Reliance, Bajaj Auto and TCS contributed to the index

3:35 PM

Benchmark indices ended the day lower with Nifty only a little above the 10,000-mark and Sensex over 200 points down on poor Services PMI. Investors were also unhappy with only 25 bps rate cut by thr Reserve Bank of India.

The S&P BSE Sensex settled the day at 32,238, down 239 points while the broader Nifty50 index ended 10,013, down 67 points 

3:23 PM

Indian Oil Corp gained over 4% after it reported a better than estimate Q1. The company's net profit fell 45% in its fiscal first quarter of 2017 as higher inventory losses and lower refining margins weighed on profitability.

 

Net profit was Rs 4,549 crore in the quarter ended on June 30, compared with Rs 8,269 crore a year earlier, the country's top refiner said. .

3:16 PM

Top Sensex gainers and losers 

Source: BSE

2:57 PM

Colgate-Palmolive (India) surged 6% to Rs 1,099 on BSE after the company reported a better-than-expected 8% growth in net profit at Rs 136 crore in June quarter (Q1FY18). Analysts on an average had expected profit of Rs 128 crore for the quarter.

 

The company engaged in personal care business had a profit of Rs 126 crore in the same quarter year ago.

2:37 PM

Markets check

 

At 2:37 pm, the Sensex was trading at 32,264, down 212 points, while the broader Nifty50 was ruling at 10,022, down 59 points. 

In broader markets, BSE Midcap and BSE Smallcap indices fell 0.5% and 0.8% respectively.

2:04 PM

GPCL Rebounds

Godrej Consumer Products (GCPL) gained 4% to Rs 963, bouncing back 10% from its intra-day low on BSE, on back of heavy volumes.

 

The stock of personal products company dipped 5% to Rs 876, its lowest level since May 24, 2017, in early morning trade. It fell 19% in past five trading sessions from its record high level of Rs 1,084 touched on July 27.

1:46 PM

Global Check

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.6%, with South Korea's tech-heavy Kospi index on course to drop 1.6%. Japan's Nikkei dropped 0.3%.

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