MARKET WRAP: Financials lift indices, Sensex gains 409 pts; TCS ends flat

All that happened in the markets today

3:55 PM

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

Benchmark indices regained its momentum, led by the Metal and Financials indices. In spite of rising concerns regarding the spread of the virus infections, markets continued to focus on the path to recovery in the economy. With liquidity giving adequate support, investors are looking towards the start of the earnings season. With the lockdown and the economic activity coming to a standstill in the last quarter, investors will be looking forward to the earnings commentary, to understand the outlook.

3:44 PM

SECTOR WATCH:: Nifty FMCG ends in the red

3:42 PM

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

3:38 PM

CLOSING BELL

The S&P BSE Sensex gained 409 points or over 1 per cent to 36,738 levels while NSE's Nifty ended at 10,813, up 108 points or 1 per cent. 

 

3:29 PM

MARKET CHECK

3:24 PM

INDEX GAINER:: SBI gains around 4%

3:13 PM

NEWS ALERT :: India-EU summit to be held on July 15 via video conference, reports CNBC TV18

>> EU will be represented by European Council president & Ursula von der Leyen, President of the European Commission. India will be represented by PM Narendra Modi.

 

3:02 PM

Granules India surges 7%, hits record high on heavy volumes

Shares of Granules India moved higher by 7 per cent to Rs 224.70 on the BSE on Thursday on back of over two-fold jump in trading volumes. The stock of the pharmaceutical company surpassed its previous high of Rs 224.60 touched on June 16, 2020. The trading volumes on the counter more-than-doubled with a combined 6.6 million shares changing hands on the NSE and BSE till 02:43 pm. READ MORE 

2:57 PM

BUZZING STOCK:: Axis Bank trades over 2% higher

2:53 PM

MARKET UPDATE :: Nifty Service Sector index up over 1%

2:52 PM

MARKET UPDATE:: India VIX slips 4% to 25.03 levels

2:42 PM

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

2:34 PM

Signs of green shoots? Seven firms bag orders worth Rs 42,000 cr in Q1

An average order value was assumed for Larsen & Toubro’s (L&T) new orders, as the firm shares only a range (value terms) for such order wins. These comprise order wins for infrastructure, capital goods, as well as engineering companies, but not all of them disclose their new order wins to the exchanges. READ MORE

2:25 PM

Number of willful defaulters rose before coronavirus lockdown: Analysis

Lenders filed 1,251 cases to recover Rs 24,765.5 crore, said a Business Standrd analysis of March quarter TransUnion Cibil data. The numbers are released with a lag and not all lenders update with the same frequency. The analysis considered 15 lenders, which saw an increase in the number and value of outstanding wilful defaulter loans. Defaulters above Rs one crore was considered for this analysis. READ MORE

2:17 PM

CBDT, SEBI to exchange data, call their agreement 'beginning of a new era'

The Central Board of Direct Taxes (CBDT) and the Securities and Exchange Board of India (SEBI) on Wednesday signed a Memorandum of Understanding (MoU) for data exchange between the two organisations. The MoU was signed by Anu J. Singh, Pr. DGIT (Systems), CBDT and Madhabi Puri Buch, Whole Time Member, SEBI in the presence of senior officers from both the organisations through video conference, said a statement by the Ministry of Finance. READ MORE 

2:08 PM

Rupee Closing

Rupee settles mildly stronger at 74.99 per US dollar vs Wednesday's close of 75.02/$

2:04 PM

INDEX LOSER:: Tech Mahindra slips over 1%

1:59 PM

NEWS ALERT :: India is reforming, performing, says PM Modi

1:52 PM

NEWS ALERT :: India's pharma industry an asset not just for India but for entire world, says PM Modi

1:49 PM

NEWS ALERT :: Want global companies to establish presence in India, says PM Modi

1:48 PM

NEWS ALERT :: India remains one of the most open economies in the world, says PM Modi

1:47 PM

NEWS ALERT :: India is playing a vital role in global revival, says PM Modi

1:44 PM

NEWS ALERT :: India is seeing green shoots of economic recovery, says PM Modi at India Global Week

1:40 PM

European indices largely higher

1:33 PM

NEWS ALERT :: Flipkart Group to invest Rs 260 cr in Arvind Fashions

>> The Flipkart Group and Arvind Fashions (AFL) today strengthened their partnership, through an investment of INR 260 crore by Flipkart Group to purchase a significant minority stake in AFL’s recently formed subsidiary Arvind Youth Brands.

1:24 PM

Federal Reserve officials suggest recovery of US economy may be stalling

Federal Reserve officials raised fresh doubts on Wednesday about the durability of the U.S. recovery, while new business surveys highlighted developing risks from the relentless coronavirus pandemic. In separate appearances, Atlanta Fed President Raphael Bostic, Boston Fed President Eric Rosengren and Richmond Fed President Thomas Barkin noted what Barkin characterized as "air pockets" facing the U.S. economy - businesses exhausting existing order books without refilling them, and households facing the end of unemployment benefits and other support. READ MORE

1:18 PM

HDFC AMC, Nippon Life AMC trade weak as equity fund inflows tumble in June

Nippon Life Asset Management slipped 4 per cent to Rs 291, while HDFC AMC dropped 3 per cent lower to Rs 2,490 in the intra-day trade on the BSE. On Wednesday, these stocks ended lower between 2 per cent and 3 per cent. In comparison, the S&P BSE Sensex was up 0.80 per cent at 36,618 points at 12:02 pm. Inflows into equity mutual funds in June declined sharply to a four-year low of Rs 241 crore compared to Rs 5,257 crore in May. READ MORE 

1:16 PM

NEWS ALERT :: Fitch affirms Glenmark’s rating at 'BB'; outlook stable, reports CNBC TV18

1:10 PM

Irdai sets up panel to study feasibility of forming a 'pandemic risk pool'

The insurance regulator -- Insurance Regulatory and Development Authority (Irdai) -- has constituted a working group to study the feasibility of forming a 'pandemic risk pool' and make recommendations regarding the same so that various risks arising out of a pandemic can be addressed. The group has to submit its report on the subject in the next eight weeks. READ MORE

1:09 PM

Tata Steel BSL crude steel production drops over 41% in June quarter

"Production and sales were impacted in the first quarter of 2020-21 as the outbreak of COVID-19 and ensuing mobility restrictions severely impacted industrial activity and consumer sentiment. This affected crude steel production and sales during the quarter," Tata Steel BSL said in a regulatory filing. READ MORE