Sensex ends 99 pts up on buying in RIL, IT stks; Nifty closes above 10,800

All that happened in the markets today

4:02 PM

MARKET COMMENT:: Vinod Nair, Head of Research at Geojit Financial Services

"In a volatile day of trade, the market gave up almost all of its early gains, before closing out the day with a positive bias. Financials ended negative while IT and FMCG led the sectoral gains. Markets are hoping for further stimulus measures from the RBI, following expectations of a softening of inflation rates, which would give RBI room for further rate cuts. Investors are advised to be cautious and to look at stock-specific movements with regards to earnings announcements and the commentary."

3:45 PM

SECTOR WATCH:: Here's how sectoral indices on the NSE fared today

3:44 PM

MARKET AT CLOSE:: Gainers and losers on the S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex ended 99 points or 0.27 per cent higher at 36,694 levels while NSE's Nifty ended at 10,815, up 47 points or 0.44 per cent.

3:24 PM

INDEX GAINER:: Tech Mahindra gains over 5.5%

3:16 PM

MARKET CHECK:: Top 5 gainers on the BSE at this hour

3:06 PM

HUL to consider special interim dividend on July 21; stock hits 10-wk high

“A meeting of the board of directors of the Company will be held on July 21, 2020, through audio-visual to consider the proposal for payment of interim (special) dividend, if any, for the financial year ending March 31, 2021 (FY21),” HUL said in an exchange filing.

 

The board will also consider the financial results for the quarter ended June 30, 2020 (Q1) along with the limited review report of the auditors for the corresponding period, it said. READ MORE

2:58 PM

Wipro Q1 preview: Covid-19 to dent numbers; strategy under the new CEO key

Wipro, the Bengaluru-headquartered information technology (IT) services company, will announce its financial results for the quarter ended June 2020 (Q1FY21) on Tuesday, July 14. It will be the second large-cap IT company to release its earnings after Tata Consultancy Services (TCS). That apart, it will be the first quarterly result announcement by the company under its new CEO, Thierry Delaporte, who took charge of the firm earlier this month. READ MORE

2:50 PM

Six Indian drug firms that are doing serious business in coronavirus times

The Food and Drug Administration (FDA), USA's regulator for drug and food safety, has sped up approvals for facilities of Indian drug manufacturers. Analysts say the pandemic has opened the door for Indian companies manufacturing a spectrum of drugs like hydroxychloroquine, the anti-malarial drug touted by US President Donald Trump as a potential “game changer” in the fight against the pandemic, and Remdesivir, the investigational antiviral drug. READ MORE

2:41 PM

India GDP to fall 7.5% if Covid-19 vaccine delayed, 4% in base case: Report

A longer wait for a vaccine against Covid-19 virus may lead to a contraction of up to 7.5 per cent in the Indian GDP in FY21, a foreign brokerage said on Monday. Economists at Bank of America Securities also revised down their base case estimates on the real GDP within a week, and now expect it to contract by 4 per cent because of a drop in economic activity. READ MORE

2:31 PM

NEWS ALERT :: Google sets up $1000 cr fund to boost India's digital economy

2:31 PM

HDFC Bank slides 3% on report of improper lending in vehicle finance unit

Shares of HDFC Bank slipped 3 per cent to Rs 1,071.2 on the BSE on Monday after a Bloomberg report alleged that the bank was probing allegations of improper lending practices and conflicts of interests in its vehicle-financing operation. "The result of the investigation isn’t public, but it followed issues thrown up by an internal audit of the bank’s vehicle-dealer lending, as well as allegations of conflicts of interest in the purchase of global positioning systems for vehicles financed by the bank," the report said quoting unnamed sources. READ MORE

2:22 PM

Stocks that hit 52-week high on BSE today

COMPANY	LATEST	52 WK HIGH	PREV HIGH
BIOCON	418.20	455.00	420.35
BRITANNIA INDS.	3791.20	3834.70	3752.50
DIXON TECHNOLOG.	6375.00	6487.70	6332.70
DR LAL PATHLABS	1869.90	1918.05	1845.90

2:14 PM

MARKET UPDATE:: Broader indices underperform

2:08 PM

Rupee closing

Rupee ends flat at 75.19/$ vs Friday's close of 75.20 against the US dollar

1:59 PM

HDFC Bank slips over 2% on alleged improper lending

>> According to a Bloomberg report, HDFC Bank is probing allegations of improper lending practices in its vehicle finance business.

>> While the nature of these allegations could not be ascertained, the bank confirmed that it is looking into them with regards to its vehicle finance vertical.

1:46 PM

Bengaluru to Patna, return of city lockdowns frustrates companies

From leading consumer goods companies to e-commerce giants, firms are again forced to divert their attention towards minimising obstacles. In past few days, lockdown has been reimposed in key markets such as Chennai, Bengaluru, Pune, Thane, Guwahati, Hyderabad, and Patna. READ MORE

1:35 PM

Healthcare services stocks in focus; Dr Lal PathLabs, Thyrocare up over 5%

Shares of diagnostic and healthcare services' companies were in focus on Monday. The shares rallied by up to 8 per cent in the intra-day trade on the BSE on expectation of earnings improvement going forward. Thyrocare Technologies, Dr. Lal PathLabs and Metropolis Healthcare were up between 5 per cent and 7 per cent on the BSE. In comparison, the S&P BSE Sensex was up 0.39 per cent at 36,736 points. READ MORE

1:27 PM

Fall from intra-day high today

COMPANY	DAY'S HIGH(RS)	DAY'S LOW(RS)	LATEST(RS)	FALL(%)
MAHINDRA HOLIDAY	194.00	168.40	168.40	-13.20
UJJIVAN SMALL	40.00	36.55	36.70	-8.25
BIOCON	455.00	415.75	418.75	-7.97
MOTIL.OSWAL.FIN.	739.00	680.00	680.55	-7.91

1:14 PM

European indices trade higher in early deals

1:06 PM

MARKET CHECK :: Sensex turns flat, up 80 pts

1:01 PM

PE/VC investments decline 10% y-o-y in first half of 2020: Report

Private Equity (PE) investments in the first half of the year dropped by 10 per cent in value terms to $18.3 billion, from $20.4 billion in the first half of 2019. Deals worth $9.6 billion in Jio Platforms accounted for 52 per cent of all PE/VC investments in 1H20. If Jio Platforms deals are excluded, investments in the first half of 2020 would be significantly lower at $8.7 billion. READ MORE

12:55 PM

YES Bank FPO: Don't judge it on the basis of price discount alone

YES Bank’s Rs 15,000 crore follow-on public offer (FPO), which is set to hit the market on July 15, is priced at Rs 12-13 per share, a hefty 49-53 per cent discount to Friday's closing price of Rs 25.50. Though the discount suggests that there could some short-term gains, valuations are not significantly attractive. READ MORE

12:49 PM

IPO ALERT :: Rossari Biotech's IPO subscribed 15% so far

12:42 PM

SECTOR WATCH:: IT stocks trade higher

COMPANY	LATEST(rs)	CHG(%)
FIRSTSOUR.SOLU.	43.15	-0.58
WIPRO	227.55	2.50
TECH MAHINDRA	591.80	4.07
INFOSYS	798.20	2.10
HCL TECHNOLOGIES	598.10	2.70

12:31 PM

ITC, HDFC Bank, and 62 other stocks face stiff resistance at 200-DMA

As the indices try to conquer their 200-DMA levels, several stocks in the Nifty500 are also witnessing strong profit-booking. This average is acting as a firm hurdle for major stocks like ACC Ltd, Adani Ports and Special Economic Zone, Asian Paints , ITC Ltd, and Ujjivan Financial Services. There are 279 stocks trading below their respective 200-DMAs, with 64 of them majorly attempting to conquer the levels although the resistance has been resilient. READ MORE

12:22 PM

RIL 43rd AGM: Jio biz update, bonus, Aramco deal details. What's in store?

While RIL's AGM has always been a much sought-after event for the corporate world, business media, investors, and other stakeholders, this time the AGM holds a greater significance given the company's record-breaking deal spree for its telecom business vertical, Jio Platforms. So far, RIL has raised a record Rs 1.18 trillion in less than three months by selling 25.24 per cent stake in its unit Jio Platforms to 13 marquee investors. READ MORE 

12:15 PM

Equity seems to be losing its charm as long-term returns disappoint

Equity seems to be losing its charm as a preferred asset class, as investors raise questions on returns not compensating for the additional risk. Even as the Nifty50 Total Returns Index, which considers dividend payouts, earned 9.35 per cent a year returns over the past 10 years, the post office fixed deposit or Public Provident Fund has given returns of 8-8.7 per cent with almost no risk. READ MORE

12:06 PM

Reliance extends gains, up 3% now

11:56 AM

Commodity heatmap :: Copper hits record high on MCX