Markets snap 4-day record closing trend, end flat; Nifty up 2% for the week

NTPC, Kotak Mahindra Bank, Cipla, SBI and Bajaj Auto contributed the most on BSE Sensex

2:53 PM

Infosys slips in red after in the last leg of trade. The stock was down nearly 1% at Rs 969 after hitting Rs 1,000 in the early morning deals

2:52 PM

Global Market Check: Global stocks scaled record highs on Friday, capping their best week in over two months as the dollar stayed close to nine-month lows, with bets on a gradual U.S. Federal Reserve rate hike path and hopes for a strong earnings season boosting risk appetite.

2:17 PM

Market check: Benchmark indices continued trading in red in the afternoon trade with Nifty50 struggling below 9,900. At 2:15 pm, BSE Sensex was trading at 32,008, down 29 points while Nifty50 was ruling at 9,878, down 13 points

1:38 PM

About 1,601 shares declined against 914 advancing shares on the BSE.

1:38 PM

Investors booked profits in financial stocks such as ICICI Bank, down as much as 1.1% in intra-day after two straight sessions of gains while Yes Bank slid as much as 1.4% after advancing for five consecutive sessions.

1:36 PM

In broader markets, BSE Midcap outperformed the benchmark indices, up 0.1% in today's trade while BSE Smallcap was trading 0.3% lower

1:34 PM

Kotak Mahindra Bank, SBI, Infosys, HeroMoto Corp and Sun Pharma gained the most on BSE Sensex while TCS, Coal India, Wipro, ITC and Tata Motors lost the most on the index

1:22 PM

Religare Enterprises is locked in upper circuit of 10% at Rs 118.70 on BSE on back of heavy volume in otherwise subdued market.

The trading volume on the counter more than doubled with 2.02 million shares changing hands on NSE and BSE combined. An average 1.11 million shares were traded daily in past two weeks.

1:16 PM

The decline in the WPI inflation in June 2017 reinforces our expectation that the MPC will reduce the repo rate by 25 bps in their August 2017 meeting, in a split vote: Aditi Nayar, principal economist, ICRA

1:15 PM

The WPI inflation is likely to rise modestly over the coming months and print between 1.5-2.5%, unless commodity prices record an unexpected rally or the rupee displays a sharp depreciation. Average WPI inflation is likely to increase mildly to 2.0% in FY2018 from 1.7% in FY2017: Aditi Nayar, principal economist, ICRA

1:04 PM

Upasna Bhardwaj, Economist, Kotak Mahindra Bank on WPI numbers

 

The sharply lower than expected WPI inflation continues to point towards the persistence of benign overall wholesale and retail inflation trajectory. Muted commodity prices along with sustenance of weak food price pressures, barring few items is expected to provide RBI with the comfort on 25 bps of a rate cut in the August meeting. More importantly, we would be interested in the forward guidance of the RBI, since all metrics of inflation continue to surprise on the downside while growth remains muted.

1:03 PM

June WPI inflation hits lowest since 2016

A massive contraction in food prices dragged India's annual rate of inflation based on wholesale prices to record low levels of 0.90 per cent in June, official data showed on Friday. CLICK HERE FOR DETAILS

12:43 PM

MARKET CHECK

 

At 12:40 pm, the Sensex was trading at 32,009, down 27 points, while the broader Nifty50 was ruling at 9,876, down 15 points

12:22 PM

Bhushan Steel slipped over 2% to Rs 62 after the National Company Law Tribunal (NCLT) issued notice against the company over the insolvency proceedings initiated by their lenders State Bank of India and Punjab National Bank.

11:46 AM

Nifty IT falls 0.7% post TCS, Infosys results; sector to underperform. CLICK HERE FOR FULL REPORT