Indices end flat, Sensex falls 37 pts; private banks, pharma stocks decline

All that happened in the markets today

4:08 PM

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

"Indian benchmark indices closed out a volatile day, flat, with a negative bias. Global cues added to the uncertainty with doubts emerging about the expected US stimulus measures and continuing US-China tensions. Profit booking continued in the Pharma sector. Markets are reacting uncertainly to global cues and this uncertainty is expected to continue. The downside looks limited but investors are advised to remain cautious, considering the valuations of some of the stocks."

3:43 PM

SECTOR WATCH:: Nifty PSU Bank index jumps 2.7%

3:42 PM

MARKET AT CLOSE:: Losers and gainers on the S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex slipped 37 points or 0.10 per cent to settle at 38,370 levels while NSE's Nifty ende at 11,308, down 14 points or 0.12 per cent.

3:28 PM

MARKET CHECK

3:16 PM

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

3:07 PM

NMDC hikes iron ore rates by Rs 300 to Rs 2,950 a tonne effective today

In a filing to BSE, NMDC said it has increased the price of lumps or high-grade iron ore by Rs 300 to Rs 2,950 per tonne, and that of iron ore fines or inferior grade ore by Rs 300 to Rs 2,660 a tonne.

 

The revised prices exclude royalty, District Mineral Fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fee, and other taxes, the company said. READ MORE
 

3:03 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

2:57 PM

Sectoral trends on NSE at this hour

2:50 PM

First batch of Covid-19 vaccine out within 2 weeks: Russian Health Minister

"Within two weeks, the first batch of the vaccine will be released," Murashko said at a press conference.

 

"The vaccination will be voluntary anyway. Some of those doctors who already have immunity against the coronavirus, there are around 20 per cent, ... think they do not need vaccination, it will be up to them to decide," Murashko assured. READ MORE

2:41 PM

NEWS ALERT | IDBI Bank cuts lending rates by 5-15 bps; UCO Bank cuts marginal cost-based lending rates by 10 bps

2:35 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ABB POWER PRODUC	907.50	964.75	-4.32
BALKRISHNA INDS	1380.00	1384.70	2.03
ESSEL PROPACK	278.50	286.80	1.49
GALAXY SURFACT.	1727.45	1790.00	-2.24
GMM PFAUDLER	6103.00	6913.85	-6.06

2:34 PM

BUZZING STOCK:: Bharat Forge soars nearly 5.5% post June quarter nos

2:26 PM

Planning to invest in the markets? These 406 stocks look bullish on charts

Even though the markets have been consolidating in a range since the past few sessions, there are still a number of stocks that look bullish on the charts. An analysis of the Nifty 500 index on the Relative Strength Index (RSI) parameter, a tool that helps identify the strength and momentum on a scale of 0 to 100 value, indicates only one stock - Container Corporation of India Ltd (CONCOR) - to be on a weak footing. READ MORE

2:17 PM

ONGC seeks exemption from applicability of some governance norms

State-owned Oil and Natural Gas Corporation (ONGC) has sought exemption from the applicability of some of the corporate governance norms, especially those pertaining to the board’s composition and evaluation, people in the know said. READ MORE

2:06 PM

UPDATE:: SBI Cards hits all-time high

2:06 PM

Rupee Closing

Rupee settles weaker at 74.83 per US dollar vs Tuesday's close of 74.78/$

2:00 PM

India's troubled shadow lenders show signs of revival on stimulus

Premiums that investors seek to buy AAA rated five-year bonds of non-bank lenders over similar-maturity government notes narrowed the most last month since at least 2012, helping a gauge measuring bond spreads to strengthen. A custom index of shares of 20 financial firms and other companies also improved. READ MORE

2:00 PM

Hindalco Industries slips nearly 3%

1:51 PM

Hero MotoCorp Q1 preview: Profit may dip up to 94% YoY as sales take a hit

During the quarter under review, Hero MotoCorp sold 5.63 lakh units, down 69.4 per cent YoY from 18.4 lakh units in Q1FY20. In the year-ago quarter, the company had sold 13.34 lakh units. In Q1FY20, it had reported revenue of Rs 8,030.3 crore and profit of Rs 741.1 crore on a standalone basis. READ MORE

1:40 PM

NEWS ALERT | China to bring up WeChat, TikTok in the US trade talks: Reuters

-- The virtual meeting to likely take place as soon as this week between US & China

1:40 PM

June Quarter Result :: Bharat Forge reports loss

>> Net loss at Rs 127.3 crore

>> EBITDA loss at Rs 14 crore

>> Revenue at Rs 11,54.2 crore 

1:33 PM

Minda Industries advances 7% after Board fixes record date for rights issue

The company will issue 10 million fully paid equity share of face value of Rs 2 each for amount aggregating to Rs 250 crore. The rights issue will open on August 25 and close on September 8, 2020 READ MORE

1:24 PM

OPEC+ has tricky balancing act keeping $40/b oil price floor: Paul Hickin

OPEC+ will not want to undo the stability it has brought to crude prices. The oil exporting alliance must now find a way of increasing production while not flooding a fragile global market. Whether it pulls it off could depend on the strength of demand from its key Asian customers. After having slashed output by 9.7 million b/d since May, OPEC and its partners in a coalition led by Saudi Arabia and Russia, relaxed their cuts to 7.7 million b/d as of August 1 and through the end of the year. READ MORE 

1:18 PM

MARKET UPDATE:: Sensex pares day's losses

1:07 PM

European indices make a mixed start

12:58 PM

OPINION | Markets fixated about inflation but it is the wrong bogeyman to worry about

With gold above $2,000 and central banks flooding the world with cash, the prospect of surging inflation is again starting to exert a grip on the minds of investors. Concern is premature: Deflation remains the bigger threat. There’s little sign of a meaningful spurt in consumer prices, even after five months of unparalleled easing in fiscal and monetary policy to combat the pandemic. READ MORE

12:48 PM

Exchanges see mixed earnings in June quarter despite robust trading volumes

The Bombay Stock Exchange (BSE) reported a 20 per cent dip in profit before tax (PBT) to Rs 39.8 crore in the June quarter. For the National Stock Exchange (NSE), the PBT was up by 44.4 per cent, at Rs 922.7 crore. The slump in initial public offerings (IPOs) amid the Covid-19 pandemic has been one of the factors weighing on the revenues of the BSE. Revenue from operations was down by 8 per cent in June quarter, from the corresponding quarter last year. READ MORE

12:38 PM

Recovery from intra-day lows in today's session

12:26 PM

PVR jumps 9% as its rights issue gets over-subscribed by 2.24 times

The rights issue had opened for subscription on July 17th and closed on July 31st. It received an application for 85.29 lakh shares, worth Rs 672 crore. The offer size was Rs 300 crore, an equivalent of 38.23 lakh shares at an issue price of Rs 784 per share. "In a bid to cope with the current distress, PVR Cinemas issued a special rights offer that was oversubscribed. The company, which had debt of around Rs 780 crore as of FY 2020 (on revenues of Rs 3,452.23 crore) will now be able to tide over initial monthly losses of about Rs 40 crore for the next 12 months," says Ankur Periwal, senior analyst-media sector, Axis Capital. READ MORE