The benchmark indices reversed trend and hit fresh intraday low in early afternoon trade. At 12:24 IST, the barometer index, the S&P BSE Sensex, was down 103.75 points or 0.27% at 38,265.88. The Nifty 50 index lost 30.80 points or 0.27% at 11,277.60.
Index heavyweights such as Reliance (down 0.57%), Bharti Airtel (down 1.52%), HDFC (down 0.56%) and ITC (down 1%) dragged.
The broader market was positive. The S&P BSE Mid-Cap index gained 1.01% while the S&P BSE Small-Cap index rose 0.64%.
The market breadth was positive. On the BSE, 1410 shares rose and 1092 shares fell. A total of 143 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 0.49% to 20.95. The Nifty August 2020 futures were trading at 11,288, at a premium of 10.4 points compared with the spot at 11,277.60.
The Nifty weekly option chain for 20 August 2020 expiry showed maximum Call OI 8.63 lakh contracts at the 11,500 strike price. Maximum Put OI of 10.89 lakh contracts was seen at 10,400 strike price.
The Nifty option chain for 27 August 2020 expiry showed maximum Call OI of 23.13 lakh contracts at the 11,500 strike price. Maximum Put OI of 32.83 lakh contracts was seen at 11,000 strike price.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 20,634,064 with 749,424 deaths. India reported 6,53,622 active cases of COVID-19 infection and 47,033 deaths while 16,95,982 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Earnings Impact:
Aster DM Healthcare slipped 4.24% to Rs 132 after consolidated net loss of Rs 88.59 crore in Q1 June 2020 compared with net profit of Rs 10.05 crore in Q1 June 2019. Net sales skid 13.2% to Rs 1,760.63 crore in Q1 June 2020 as against Rs 2,028.59 crore in Q1 June 2019. EBITDA margin stood at 8.1% in Q1 FY21 as compared to 11% in Q1 FY20.
Kalpataru Power Transmission declined 1.76% to Rs 245.70 after the company posted a 55% fall in consolidated net profit to Rs 45 crore in Q1 June 2020 as compared to Rs 100 crore in Q1 June 2019. Consolidated net sales for Q1 June 2020 stood at Rs 2330 crore, falling nearly 16% from Rs 2771 crore in Q1 June 2019. The company said revenue and profitability growth impacted by lockdown and restrictions. EBITDA margin declined by 140 basis points to 11.5% in Q1 June 2020 from 12.9% in Q1 June 2019. The company's order book as of 30 June 2020 stood at Rs 24,934 crore out of which 73% is domestic order while 27% is international order.
NCC fell 0.80% to Rs 30.90. The construction company's consolidated net profit slumped 76.5% to Rs 17.01 crore on 44.7% decline in net sales to Rs 1,297.60 crore in Q1 June 2020 over Q1 June 2019. In the first quarter of 2020-21, the company has secured orders aggregating to Rs 2592 crore and the order book stood at Rs 27916 crore as at the end of the first quarter.
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