Key equity barometers slipped further and hit fresh intraday low in mid afternoon trade. At 14:28 IST, the barometer index, the S&P BSE Sensex, was down 594.95 points or 1.59% at 36,886.17. The Nifty 50 index was down 138.80 points or 1.54% at 10,946.60. Negative global cues spoiled investors sentiment.
Broader market tumbled. The S&P BSE Mid-Cap index was down 1.02%. The S&P BSE Small-Cap index was down 1.35%.
The market breadth was tilted in favour of sellers. On the BSE, 681 shares rose and 1664 shares fell. A total of 132 shares were unchanged.
Most IT stocks fell. Oracle Financial Services Software (down 3.84%), Infosys (down 3.14%), MphasiS (down 3%), MindTree (down 2.73%), Persistent Systems (down 2.31%), Tech Mahindra (down 2.27%), Hexaware Technologies (down 1.87%) and HCL Technologies (down 0.83%) declined. Wipro was up 1.62%.
Tata Consultancy Services fell 0.68%. The IT company announced the launch of the ADD Site Feasibility Platform, which provides life sciences companies with a single, integrated platform that digitizes the site selection and activation processes, and facilitates data-driven decision-making while assessing site feasibility for multi-site clinical trials. The announcement was made during market hours today, 1 July 2019.
Godrej Consumer Products rose 0.93%. On a consolidated basis, the personal products company's net profit rose 0.63% to Rs 407.6 crore on a 5.18% fall in the total revenue from operations to Rs 2348.75 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 1 August 2019.
Eicher Motors lost 0.03% after it announced the sales volumes of VE Commercial Vehicles (VECV), an unlisted subsidiary of Eicher Motors for the month of July 2019.
The total sales of VECV fell 32.1% to 4048 units in July 2019 over July 2018. The total domestic sales declined 28.4% to 3695 units while the total exports dropped by 59.6% to 306 units in July 2019 over July 2018. The Volvo trucks sales declined by 2.1% to 47 units during the said period. The announcement was made during market hours today, 1 July 2019.
International Paper APPM rose 0.45%. On a consolidated basis, the paper and pulp manufacturer's net profit rose 36% to Rs 61 crore on a 8.37% rise in the revenue from operations to Rs 368.30 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 1 August 2019.
Biocon fell 1.54%. The biotechnology company, along with Mylan N.V., announced the launch in Australia of Ogivri (trastuzumab), a biosimilar to Herceptin (trastuzumab), for the treatment of HER2-overexpressing breast cancer and metastatic stomach cancer (gastric or gastroesophageal junction adenocarcinoma). Ogivri is the first trastuzumab biosimilar approved and launched in Australia and available on the pharmaceutical benefits scheme (PBS). The announcement was made during market hours today, 1 July 2019.
The yield on India's 10-year benchmark federal paper rose to 6.427% at 14:24 IST compared with 6.369% at close in the previous trading session.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 69.0625, compared with its close of 68.7950 during the previous trading session.
MCX Gold futures for 5 August 2019 settlement fell 0.57% at Rs 34,321.
In the commodities market, Brent crude for September 2019 settlement was down 93 cents at $64.12 a barrel. The contract rose 45 cents or 0.70% to settle at $ 65.17 a barrel in the previous trading session.
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