MARKET WRAP: Sensex ends 463 pts lower, Nifty below 11,000; SBI dips 4.6%

In the broader market, the S&P BSE Mid-cap slipped 117 points, or 0.86 per cent, to end at 13,526 level while the S&P BSE Small-cap settled at 12,552 level, down 140 points, or 1.1 per cent.

3:41 PM

Sectoral trends at NSE at close

3:40 PM

Top gainers and losers on S&P BSE Sensex at close

3:40 PM

Closing Bell

The Sensex ended 463 points, or 1.23 per cent, lower at 37,018 level, while the Nifty50, too, ended the day with losses of 138 points, or 1.24 per cent, at 10,980 mark.

3:17 PM

Market check | Nifty reclaims 11,000-mark

3:17 PM

Market check | Sensex begins recovery

3:05 PM

Company Update | Colgate-Palmolive (India)

-- The market leader in Oral Care, announced the appointment of Ram Raghavan as Managing Director effective August 01, 2019. Prior to this role, Mr. Raghavan served as Vice-President Marketing of Asia Pacific Division of Colgate-Palmolive. 
 

-- Mr Raghavan joined Colgate India in 1997 and progressed through a series of leadership roles across various divisions and subsidiaries of Colgate-Palmolive. In 2003, he moved to Hong Kong to join the Asia-Pacific Division. In 2004, he moved to Colgate China and sequentially managed the Toothbrush and Toothpaste businesses

3:03 PM

MARKET ALERT | India VIX up 10%, hovers at 1-month high

2:59 PM

COMMENT :: Jefferies on US Fed rate cut

It wasn’t too long ago that investors were questioning the health of the US consumer after a disappointing set of December retail numbers. Aside from early 2017, our consumption indicator has produced one of the longest periods of improvement since 1991. Yesterday’s rate cut will no doubt help credit conditions underwriting the S&P 500 Consumer Discretionary and keeping Staples relatively well bid

2:57 PM

GLOBAL MARKET UPDATE

Asian markets fell on Thursday, tracking losses on Wall Street, after the US Federal Reserve cut rates for the first time in more than a decade but failed to offer a clear signal on future easing. The move to ease the cost of borrowing was well telegraphed and meant to inoculate against global risks washing onto American shores, but financial markets were whipsawed by confusion over whether another cut would be coming. Hong Kong shares were down 0.8 percent in afternoon trade after the city's de facto central bank matched the Fed's cut, lowering rates for the first time since 2008.

(Source: Agencies)

markets

2:52 PM

Delta Corp falls 8%, hits over two-year low after FPIs sell stake

Shares of Delta Corp hit an over two-year low of Rs 141 per share, down 8 per cent intra-day on the National Stock Exchange (NSE) on Thursday, after foreign portfolio investors (FPIs) offloaded about 1 percentage point stake in the company through open market. The stock was trading at its lowest level since May 23, 2017, when it hit a low of Rs 139 apiece on the NSE in intra-day deals. READ MORE

2:50 PM

Market check

2:46 PM

Market check

2:44 PM

Zee may have offloaded its stake but it isn't enough to satisfy investors

The sale of a stake in Zee Entertainment Enterprises Ltd. to a foreign fund failed to cheer investors, who say the transaction leaves founders of India’s largest publicly-traded television network with the need to raise a further Rs 68 billion ($983 million) to pare debt.

 

Zee’s shares tumbled 5.8% to Rs 340.6 in a fourth day of declines, taking the year’s drop to about 30%. Invesco Oppenheimer Developing Markets Fund agreed to buy as much as 11% stake in Zee for about Rs 42.24 billion at Rs 400 each, the company said Wednesday. READ MORE

2:35 PM

MARKET ALERT| Sensex down nearly 3% this week

2:33 PM

Market check

2:32 PM

Market check

2:31 PM

NEWS ALERT | SML Isuzu July auto sales

-- Total sales down 24.2% Yoy at 857 units vs 1,130 units


 

2:26 PM

TVS Motors trading near day's low

2:22 PM

NEWS ALERT | BMW CEO says in talks with JLR to explore further areas of cooperation: Reuters

-- No plans for cross share holdings with JLR

2:21 PM

SBI trades over 4% lower; biggest loser among PSU Banks

2:18 PM

I am a serious buyer in the mid-cap segment: Equirus Capital's Ajay Garg

The markets have mostly been a one-way street wince the presentation of the Union Budget in July. AJAY GARG, managing director, Equirus Securities tells Puneet Wadhwa and Swati Verma that given the resounding mandate that the Narendra Modi-led government received, he expected the first half of the fiscal year 2019-20 (H1FY20) to be much better than what it is now. The market, he says, has been underestimating the impact of how the corporate results will play out.  READ FULL INTERVIEW HERE

Ajay Garg, Managing Director, Equirus Securities

2:15 PM

NEWS ALERT| Monsoon expected to be normal in August, September: IMD forecast

2:13 PM

July Auto Sales | TVS Motors

-- Total sales at 2.79 lakh units, down 13.1% YoY

-- 2-wheeler sales at 2.65 lakh units, down 13.7%; domestic sales at 2.08 lakh units

-- Motorcycles sale at 1.08 lakh units

-- Scooter sales at 1.05 lakh units

-- Total export at 69,994 units

2:09 PM

Earnings Alert | CEAT Q1 result

-- Net profit at Rs 82.2 cr, up 37% YoY

-- Revenue at Rs 1,752, up 2.9% YoY

-- EBITDA at Rs 167.1 cr, up 7.1% YoY

2:05 PM

Market check

2:04 PM

Market check | Sensex slips further

2:01 PM

Trent surges 8% in a weak market on strong Q1 results

Shares of Trent surged 8 per cent intra-day to Rs 427 on the BSE on Thursday, in an otherwise weak market, after the company reported a strong set of June quarter numbers for FY20 (Q1FY20). The company logged a 51 per cent rise in the standalone net profit at Rs 58 crore in the recently concluded quarter on strong revenue growth. The Tata Group company, engaged in retailing business, had a profit of Rs 38 crore in year ago quarter. READ MORE

1:46 PM

Ashok Leyland extends fall post July auto sales numbers

1:45 PM

Ashok Leyland July auto sales

-- Total sales down 28% YoY at 10,927 units
 

-- Total M&HV saldes down 39% YoY to 6,722 units

-- Total LCV sales flat at 4,205 units

Photo: Reuters

1:41 PM

Global markets check

European shares tracked Wall Street and Asian markets into the red on Thursday after the US Federal Reserve dampened hopes of future cuts in US interest rates. In early European deals, the pan-region Euro Stoxx 50 futures fell 0.5 per cent while futures for Germany’s DAX and London’s FTSE were down 0.3% each and those of France’s CAC 40 eased 0.2 per cent. E-minis for the S&P500 were 0.15 per cent lower.

Asian shares slipped to six-week lows on Thursday while the dollar jumped to two-year highs  MSCI’s broadest index of Asia-Pacific shares outside Japan faltered 0.8 per cent, extending losses for a fifth day to the lowest since mid-June and on track for the biggest one-day percentage drop in a month. Japan’s Nikkei reversed early declines and were a shade higher, while Australian shares declined 0.4 per cent. Losses in Chinese shares accelerated after they opened lower with the blue-chip index down 0.8 per cent.