Sensex falls 123 pts as investors book profit in RIL, banks, auto stocks

The broader markets, however, outperformed the frontline indices with the BSE MidCap and SmallCap indices adding 0.06 per cent and 0.34 per cent, respectively.

4:06 PM

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index started a week with mild losses and closed a day at 15824 & formed Doji sort of candle pattern on daily chat which hints indecision.  The index has good support around 15770-15700 zone holding above said levels we may see positive momentum to be continued towards 15900-16000 zone which are strong resistance zone & fresh upside-only possible when we see a decisive close above 16k mark until then current range of 15600-16000 will extend further.

4:06 PM

MARKET VIEW :: Ajit Mishra, VP - Research, Religare Broking

Markets traded lacklustre and ended marginally in the red, tracking mixed cues. The beginning was downbeat following negative global cues however the index managed to recoup its losses and traded in a narrow range thereafter. Finally, Nifty  ended lower by 0.2% at 15,824 levels. The broader markets too ended flat. Amongst the sectors, a mixed trend was witnessed wherein Consumer Durables, IT and Metal ended with gains while Auto, Capital Goods and Oil & Gas ended with losses. 

 

Going forward, the earnings announcement from select Nifty majors combined with global cues will dictate the trend. Meanwhile, we reiterate our view to limit leveraged positions and wait for further clarity. 

3:56 PM

TECH VIEW | Ashis Biswas, Head of Technical Research at CapitalVia Global Research

The market witnessed some lackluster movement and an attempt to hold the support level around the Nifty 50 Index level of 15800. The expected levels of the market are likely to be in the range of 15800 and 15950, and it is going to be crucial for the short-term market scenario to sustain above the 15800 Nifty50 Index level. Technical indicator suggests, a volatile movement in the market in a small range.

 

3:47 PM

CLOSING COMMENTS :: Vinod Nair, Head Of Research at Geojit Financial Services

Indian market swung between gains and losses in today’s volatile trade reflecting weak global peers as investors await a slew of quarterly earnings. Chinese education, property, and tech sectors fell sharply after tighter government regulations. Globally, markets are awaiting the upcoming Fed meeting this week to have clarity regarding the timing of asset purchase tapering. 

3:47 PM

Navin Fluorine declines 6% on Q1 show

3:42 PM

Voda Idea drops 1% even as firm hikes tarrifs

3:41 PM

Symphony slips 5% on disappointing Q1 show

3:40 PM

SBI Card jumps over 6% post Q1 numbers

3:38 PM

Tata Motors slips 1% ahead of Q1 numbers

3:37 PM

Sector Watch

3:36 PM

Broader markets outperform benchmark

3:35 PM

Sensex Heatmap | Top gainers & losers at close

3:34 PM

CLOSING BELL : Sensex, Nifty snap 2-day winning streak on weak global cues

BSE Sensex declined 124 points or 0.23 per cent to 52,852. NSE Nifty settled at 15,824, 32 points or 0.20 per cent lower. 

3:26 PM

BUZZING :: Zomato extends gains on heavy volumes

3:16 PM

Persistent Systems hits record high; soars 16% in 2 days on strong Q1 show

Shares of Persistent Systems hit a new high of Rs 3,294.95, up 8 per cent on the BSE in the intra-day trade on Monday, having surged 16 per cent in the past two trading days, after the company reported a strong set of numbers for the quarter ended June 2021 (Q1FY22). Besides, in the past three months, the stock of information technology (IT) consulting & software company has zoomed 70 per cent, as compared to a 9 per cent rise in the S&P BSE Sensex. READ MORE

 

3:08 PM

Result Reaction :: M&M Financial tanks over 5% on surprise one-time loss

>> Net loss: Rs 1,543 crore vs Rs 432-crore profit YoY

2:54 PM

Chemical stocks in focus; Alkyl Amines, Gujarat Fluorochem at new highs

Shares of chemicals companies were on a roll in Monday's intra-day trade. Shares of Alkyl Amines Chemicals, Gujarat Fluorochemicals, Balaji Amines and Navin Fluorine International hit their respective new highs on the BSE in an otherwise subdued market on expectations of strong earnings. These stocks rallied up to 11 per cent in intra-day trade today. In comparison, the S&P BSE Sensex was down 0.05 per cent at 52,948 points at 01:54 pm. READ MORE

2:35 PM

Q&A | Real money in market is made by remaining invested for long: Vikas Khemani

The markets are always vulnerable to corrections as they depend on a lot of unexpected factors — ranging from politics and geopolitics to inflation, monetary policy, etc. Many of these factors never happen and some happen unexpectedly. Investors always get hit when the markets are unprepared. That said, it is futile to manage these. Real money in the market is made by remaining invested for long. India is in one of its best super-cycle periods for the next five-seven years. Waiting for a market correction and optimising entry time in the markets will be akin to missing the woods for the trees. READ FULL INTERVIEW HERE

2:16 PM

India VIX rises over 5%

Volatility indicator India VIX jumped 5.16 per cent to 12.37

1:59 PM

The multiplex mess: Road to recovery for pandemic-battered cinema is long

The devastation has been absolute. PVR Cinemas had sold over 101 million tickets, made Rs 3,500 crore in revenues and over Rs 600 crore in operating profit in the year ending March 2020. The previous year, 2019, had been one of the best for Indian cinema, and it showed on the balance sheet of the country’s largest film retail firm. Just a year later, its revenues have tumb­led to Rs 310 crore; less than 10 per cent of the March 2020 topline. Its 842 screens remain shut. READ MORE

1:46 PM

Caplin Point jumps 19%, hits record high; stock soars 37% in seven days

Shares of Caplin Point Laboratories hit a record high of Rs 944 as they rallied 19 per cent on the BSE in intra-day trade on Monday in an otherwise subdued market. At 12:56 pm, the stock of the pharmaceutical company was trading 18 per cent higher at Rs 935 on the back of a 10-fold jump in trading volumes. At the same time, the S&P BSE Sensex was trading flat at 52,980 points.

 

A combined 5.8 million equity shares, representing 7.6 per cent of the total equity of Caplin Point Laboratories, had changed hands on the NSE and BSE so far. READ MORE

1:27 PM

BUZZING :: Jindal Stainless (Hisar) zooms 8% in a subdued market

1:17 PM

Mid-market view | Gaurav Garg, Head of Research at CapitalVia Global Research

On Monday, Indian equity benchmarks got off to a sour start due to weakeness in Asian rivals. Market sentiment is also dampened by fears of a third wave and the proliferation of Delta and Delta plus variants. As Commerce and Industry Minister Piyush Goyal expressed confidence that India will continue to attract high levels of foreign direct investment (FDI) in the current fiscal year, the downside was limited, and the market recovered swiftly. Stocks soared to new highs on Wall Street on Friday, with the Dow Jones Industrial Average closing above 35,000 for the first time, as the market recovered from its brief plunge earlier in the week. 

 

We witnessed an attempt in the market to hold above an important support level of 15.800. While sustaining above 15.800 is the key factor from a short-term perspective, we expect the market to extend the rally till 15,920-15,950.

1:12 PM

Bajaj Auto takes a different road from Ola in its electric vehicle journey

Tech giant Ola Electric wants to disrupt the two-wheeler market by offering electric scooters for the price of a 125cc ICE-powered model. Its ambitious target is to get half of the 21 million two-wheeler buyers to move from ICE to electric in a few years as it builds the world’s largest two-wheeler factory in Tamil Nadu. To be fully operational by 2022, it will churn out 10 million units per annum. READ MORE

1:06 PM

Status quo likely in September review of Nifty but not for long

The composition of the Nifty50 index is unlikely to change during the semi-annual review, slated for September. The two key stocks in contention — Info Edge and Avenue Supermarts — are yet to fulfil the inclusion criteria, even as the cutoff date of July 30 nears.

 

This despite the Nifty positions of state-owned Indian Oil and Coal India — the lowest-ranked index constituents, in terms of free-float market capitalisation — appear in danger. READ MORE

12:50 PM

Analysts revise earnings estimates of Reliance Industries by 1-4%

After a beat in the operational performance in the April-June quarter of 2021-22 (FY22), brokerages have revised upwards their earnings estimates of India’s largest listed company by market capitalisation, Reliance Industries (RIL), by 1-4 per cent. The earnings revision has been led by an improvement in margin performance in Reliance Jio, oil-to-chemicals (O2C) business, including the refining segment. READ MORE

12:39 PM

NEWS ALERT :: Vodafone Idea likely raises corporate tariffs

>> Co raises tariff for corporate customers by 30-40%

>> Tariff in the post-paid segment hiked

>> Minimum plan at Rs 299

Source: TV reports

12:33 PM

BPCL, HPCL: Is it time to look at OMC stocks amid crude oil drop?

The Brent crude is struggling to touch the $75-mark after a sharp decline of over 15 per cent from the recent peak of $77.80 a barrel. Crude prices have recovered from last week's low of $67.42, although the momentum is not showing much excitement. Meanwhile, stocks of oil marketing companies (OMCs) off late are witnessing some profit-taking. Shares of BPCL and Hindustan Petroleum Corporation (HPCL) have declined over 10 per cent from the highs touched last month. READ MORE

12:20 PM

Bitcoin leaps 12% to test recent peaks, ether hits 3-week high

Cryptocurrencies popped to the top of recent ranges on Monday as short sellers bailed out in the wake of a strong week and while traders hoped a handful of positive comments from influential investors might signal a turnaround in fragile sentiment. READ MORE

12:07 PM

Aurionpro Solutions surges 16%, hits 52-wk high on robust June quarter nos

Shares of Aurionpro Solutions surged 16 per cent at Rs 238, also its fresh 52-week high, on the BSE in the intra-day trade on Monday after the company reported a robust set of numbers for the quarter ended June 2021 (Q1FY22). In the past one month, the stock of the information technology (IT) software products company has zoomed 64 per cent, as compared to a 0.27 per cent rise in the S&P BSE Sensex. READ MORE