MARKET WRAP: Sensex tanks 661 pts, Nifty Bank slips 3%; India VIX jumps 6%

All that happened in the markets today

3:59 PM

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

"The markets exhibited a high correlation with the global markets and with the virus infections hitting day highs in India, the uncertainty caught up with the markets. Global markets were weak following rising infections in US and US-China tensions being back in the news. Indian markets were also worried about the increasing number of localised lockdowns which would in turn again slowdown the predicted recovery for businesses. Volatility is expected to remain and investors are advised to be cautious and be stock specific in their trades."

3:46 PM

SECTOR WATCH:: Nifty Pharma ends in the green

3:44 PM

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

3:35 PM

CLOSING BELL

The S&P BSE Sensex declined 661 points or 1.8 per cent to end at 36,033 while NSE's Nifty ended at 10,607, down 195 points or 1.81 per cent. 

3:23 PM

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

3:07 PM

Rallis India surges 10% in weak market; stock nears record high

The trading volumes on the counter jumped an over five-fold with a combined around 4 million shares changing hands on the NSE and BSE so far. The up move has taken the counter close to its record high level of Rs 299 hit on May 3, 2015. READ MORE

2:55 PM

Sectoral Trends :: Nifty Services Sector index slips 2%

2:45 PM

Apparel retailers to post operating losses in Q1FY21 as revenues plunge 80%

After a weak March quarter, apparel retailers are expected to face the brunt of the lockdown in the June quarter, with revenues falling over 80 per cent as compared to the year ago quarter. Unlike retailers such as Avenue Supermarts which gets a majority of sales from groceries, apparel retailers have been operating with a minimal number of stores and are pegged back by ongoing restrictions. READ MORE

2:34 PM

Mindtree Q1 net profit grows 129.8% YoY at Rs 213 crore; revenue rises 4%

Mid-tier IT company, Mindtree, on Tuesday posted a 129.8 per cent year-on-year (YoY) growth in its consolidated net profit at Rs 213 crore for the quarter ended June 2020 (Q1FY20-21). On a sequential basis, the numbers grew 3.3 per cent.

 

The company's revenue came in at Rs 1,908.8 crore, up 4.1 per cent YoY and down 6.9 per cent QoQ. READ MORE

2:28 PM

BROKERAGE VIEW :: Why are markets falling today?

2:19 PM

Sector Watch :: Pharma stocks trade higher; Biocon top gainer

2:09 PM

March Telecom Data :: Reliance Jio adds 4.68 million new subscribers

>> Bharti Airtel loses 1.26 million subscribers

>> Vodafone Idea loses 6.35 million subscribers

(Source: Trai)

COMPANY NAME	LATEST	HIGH	LOW	CHG (rs)	CHG(%)	VALUE (rs CR)
VODAFONE IDEA	9.38	9.70	9.32	-0.38	-3.89	36.61
RELIANCE COMMUNI	2.58	2.58	2.58	0.12	4.88	1.93
QUADRANT TELE.	0.21	0.21	0.19	0.01	5.00	0.02
BHARTI AIRTEL	592.40	596.60	578.70	5.65	0.96	53.53

2:08 PM

Eveready hits 10% upper circuit on report of Dabur promoters picking stake

Shares of Eveready Industries were locked in 10 per cent upper circuit at Rs 88.90 on the BSE on Tuesday on the back of heavy volumes amid reports that Dabur promoters have picked up nearly 8 per cent stake in the battery maker. Till 01:19 pm, a combined 3.41 million equity shares, representing 4.69 per cent of the company's total equity, had changed hands on the NSE and BSE. There were pending buy orders for around 600,000 shares on the NSE and BSE, exchange data shows. READ MORE

2:03 PM

Rupee Closing

Rupee settles weaker at 75.42 per US dollar vs Monday's close of 75.19/$

1:53 PM

June Quarter Result :: Mindtree's consolidated profit comes in at Rs 213 crore

>> EBIT margin 13.7%

>> Revenue at Rs 1,909 crore; in dollar terms $25.32 crore

>> EBIT at Rs 262 crore

1:49 PM

Infosys Q1 preview: Revenue may dip 4%; magnitude of pricing pressure eyed

After peers Tata Consultancy Services (TCS) and Wipro, Infosys is scheduled to release its financial results for the April – June quarter of the fiscal year 2020-21 (Q1FY21) on Wednesday, July 15. The IT is expected to report subdued numbers due to disruptions caused by the Covid-19 pandemic. Meanwhile, the fall in the earnings before interest and tax (EBIT) margin could be limited due to the benefit from rupee depreciation, cut in travel costs, and optimisation on variable costs, according to analysts. READ MORE

1:43 PM

NEWS ALERT :: TDSAT refuses to stay TRAI order directing discontinuation of premium plan

>> TDSAT allows Trai time to file reply to Vodafone Idea’s plea challenging TRAI directions.

>> Case likely to be heard on July 16.

Alert: TDSAT is Telecom Disputes Settlement and Appellate Tribunal 

         Vodafone Idea on Monday had moved the TDSAT against the TRAI notice putting the premium plans on hold

1:35 PM

Arvind Fashions falls for 5th straight day ahead of closure of rights issue

Shares of Arvind Fashions were locked in 5 per cent lower circuit at the bourses for the second straight day, down 5 per cent at Rs 149.25 on the BSE on Tuesday, ahead of the closure of its rights issue. The stock of the branded apparel company dipped for the fifth straight day, and has fallen 15 per cent during this period. Till 12:54 pm, a combined around 41,000 equity shares had changed hands and there were pending sell orders for 270,000 shares on the NSE and BSE. READ MORE

1:35 PM

Liquidity measures help reduce financing cost in corporate bond mkt: RBI

Yields have dropped and the spreads have compressed despite foreign portfolio investment (FPI) outflows of around $3 billion from corporate bonds in 2020, it said.

 

Over the past few months, RBI infused liquidity through long-term repo operations (LTROs), targeted long term repo operations (TLTROs), TLTRO 2.0, special refinance facilities to NABARD, SIDBI, NHB and Exim Bank, and a special liquidity facility for mutual funds. READ MORE

1:25 PM

Sensex Heatmap at this hour

1:14 PM

European indices open lower

1:13 PM

NEWS ALERT | RBI may relax provisioning norms for banks amid Covid-19 crisis: Agencies

1:05 PM

MARKET UPDATE:: Sensex falls below 36,000

12:59 PM

MARKET UPDATE:: Nifty breaches 10,600

12:58 PM

SECTOR WATCH:: Nifty Pharma index trades in the green in an otherwise weak market

12:57 PM

Securitisation volume dips 85% to Rs 6,200 cr in Q1FY21 on slow collections

The Securitisation volume plunged by 85 per cent to Rs 6,200 crore in the first quarter ended June 2020 (Q1FY21) on slow collections following the lockdown in India. The loan moratorium also impacted volumes, according to rating agency CRISIL.

 

However, in stark contrast with the overall market performance, transactions backed by gold-loan receivables bucked the trend. They comprised nearly half of the total securitisation transactions in the first quarter. READ MORE

12:40 PM

STOCK ALERT :: Burman family picks stake in Eveready Industries

>> Family says, picked stake in personal capacity

>> Stake now at  20%

>> Burman family now largest investor in Eveready

12:33 PM

MARKET UPDATE :: Sensex exhibits weakness, tumbles 600 pts

12:32 PM

MARKET UPDATE:: Volatility index, India VIX, rises 5%

12:31 PM

IPO ALERT :: Rossari Biotech's IPO fully subscribed till 12:15 pm