Sensex gyrates 376 pts, ends 66 pts down; Sun Pharma zooms 10%, Tech M 7%

Domestic equities witnessed sharp profit booking in the fag end of the session as European stocks slipped in early trade and US stock futures hinted at a muted start on Wall Street later today

4:23 PM

MARKET STRATEGY :: What will drive the indices next week?

The RBI’s MPC meeting is scheduled for the coming week however the expectation is that the RBI too, just like the Fed, will not hamper the repo rates so as to continue supporting impacted sectors with cheaper credit. The Governor's comments on inflation will also throw some light ontoour economy and any future actions our central bank might take.

Auto sales numbers, PMI figures along with the result season will continue to drive stock specific movements on D-Street.

Investors can continue investing in the markets in a SIP format to accumulate quality stocks. Nifty50 closed the week at 15,763.05, down by 0.59%.

Views by: Nirali Shah, Head of equity research, Samco Securities

4:22 PM

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

Taking support from pharma, fertilizer and auto stocks, the domestic market attempted to trade positively but failed to stick with the gains amid weak global trend. Eurozone inflation in July rose to 2.2% YoY above European Central Bank’s target impacting the European market and the Chinese market was fragile too. Pharma stocks were back on action beating early worries of weak Q1 results as recent quarterly of major companies were in favor of market expectation. Fertilizer stocks were in focus today as Chinese firms were asked to suspend exports in order to ensure domestic supply

4:18 PM

MARKET RECAP :: S Ranganathan, Head of Research at LKP Securities

A highly volatile session of trade today with plenty of action across stocks and sectors. Profit Booking was seen in key Pivotals and across high-quality Midcaps to erase the gains for the day. The Pharma Index however bucked the trend with a stellar 3.5% up move today led by the big boy which posted good numbers for the quarter. A day of high volatility amidst a slew of earnings was indeed the highlight for today

4:17 PM

Markets this week :: Top losers on NSE

>> Dr Reddy's Labs: 13.11%

>> Axis Bank: 6.16%

>> Maruti Suzuki: 4.33%

>> Asian Paints: 4.06%

4:14 PM

Markets this week :: Top gainers on NSE

>> Sun Pharma: 10%

>> Tech Mahindra: 6.95%

>> Hindalco: 2.9%

>> Bajaj Finserv: 2.6%

>> Tata Steel: 1.7%

4:07 PM

Markets this week :: MidCap index trumps Benchmarks

>> Markets slip for second straight week

>> Sensex & Nifty slip 0.6% each
 

>> Nifty Bank falls 3% in last two weeks, the biggest 2-week fall in nearly 4 months

>> Midcap index regains last week's losses, up nearly 1% this week

4:05 PM

IPO Action :: Rolex Rings receives strong institutional backing; issue subscribed 130x till 4 PM

4:02 PM

MARKET VIEW :: Investors go home with leaner portfolios ahead of a likely weak Wall St session

4:00 PM

BSE Snapshot :: Rally in broader markets skews market breadth towards advances

3:59 PM

Volatility Alert

India VIX ends 1% down at 12.18 levels.

3:57 PM

Sector Watch :: Metal index slips 1% after rising 5% on Thursday

3:55 PM

Sector Watch :: 13 of 15 auto index constituents end higher

>> Ashok Leyland top gainer; Tube Investments of India top laggard

3:54 PM

Sector Watch :: Sun Pharma, Cipla drive Nifty Pharma index over 3% higher

3:52 PM

Index contributors :: RIL, SBI, Bajaj Finance top drags on the Sensex

3:47 PM

BSE SmallCap Heatmap :: Index ends 0.7% higher

3:44 PM

Broader market :: BSE MidCap index holds ground, adds 0.5%

3:41 PM

Sectoral trends on the NSE

3:38 PM

Sensex Heatmap at Close

Top gainers: Sun Pharma, Tech M, Power Grid

Top losers: Bajaj Finance, SBI, Bajaj Finserv

3:33 PM

CLOSING BELL

The frontline S&P BSE Sensex ended 66 points, or 0.13 per cent, lower at 52,587 levels 

 

It's NSE counterpart, Nifty50, shut shop at 15,763 levels, down 15 points or 0.1 per cent.

3:14 PM

Sun Pharma rallies 9%, hits over 4-year high on strong June quarter results

The company reported better-than-expected consolidated sales from operations at Rs 9,669 crore, a growth of 29 per cent over Q1 last year and 14 per cent over Q4 last year. Analysts had expected 19.5 per cent YoY revenue growth for the quarter. The strong revenue growth was mainly due to 39 per cent YoY jump in domestic formulations to Rs 3,308 crore and 35 per cent YoY rise in the US formations to Rs 2,800 crore. READ MORE

3:01 PM

MARKET CHECK :: Sharp fall in indices

2:44 PM

Q1 Results :: MARICO

Cons revenue at Rs 2525 crore
 

Cons PAT at Rs 365 crore
 

EBITDA at Rs 481 crore
 

Cons margin at 19%

2:38 PM

June Quarter Results :: Indian Oil Corporation reports weak nos sequentially

>> PAT: Rs 5,941 crore

>> Revenue: Rs 1.18 trillion

>> Ebitda: Rs 11,126 crore

>> Ebirda margin: 9.4%

2:27 PM

Laurus Labs rebounds 9% from day's low after 3 straight sessions of decline

On Thursday, Laurus Labs reported 31.1 per cent year-on-year (YoY) growth in revenue at Rs 1,278.5 crore, mainly driven by 95 per cent YoY jump in CRAMS (contract research & manufacturing services) business to Rs 195 crore and strong traction in formulations to Rs 521 crore with growth of 48 per cent YoY. Net profit grew 40 per cent YoY at Rs 241 crore. READ MORE

2:12 PM

June Quarter Results :: Sun Pharma

>> PAT: Rs 1,444.1 crore

>> Revenue: Rs 9,669.4 crore

>> Ebitda: Rs 2,821 crore

>> Ebitda margin: 29%

2:02 PM

Market Check :: Sensex at day's high

2:00 PM

June Quarter Results :: Dr Lal Path Labs reports a profit of Rs 131.2 crore

>> Revenue: Rs 606.6 crore 

>> Ebitda: Rs 189 crore

>> Ebitda margin: 31.2%

1:56 PM

JUNE QUARTER RESULTS :: V-GUARD INDS

Cons revenue at Rs 565 crore vs Rs 408 crore YoY

 

Cons PAT at Rs 26 crore vs Rs 4 crore YoY

1:42 PM

NEWS ALERT :: Govt suspends international passenger flights till Aug 31

1:36 PM

India equity deals set to pick up pace as investors hunt post-pandemic bets

Cash-laden investors are set to step up the hunt for Indian firms, mainly tech start-ups, likely to benefit in the post-pandemic world, after pumping in a record $30 billion via public and private equity deals this year, bankers and analysts said.

 

Eyeing India's large middle class with access to cheap smartphones and the internet, global investors have flocked to online platforms in the country and helped swell the ranks of unicorns, or start-ups valued at $1 billion or above. READ MORE