Markets pare losses to settle near day's high; Nifty ends above 10,050

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4:01 PM

Vinod Nair, Head of Research, Geojit Financial Services 

 

Market started with a negative bias due to profit booking while later the trend changed with renewed buying on index heavyweights. The pharma sector continued to face US regulatory & pricing pressure which refrained investors to give focus even at the low valuation. On the other hand, investors are watchful of the US employment data later today to take cues on the stability of US market.

3:59 PM

Bharat-22 ETF

 

The ETF will feature four banking stocks -- SBI, Axis Bank, Bank of Baroda and Indian Bank -- other than CPSEs such as Nalco, ONGC, IOC, BPCL and Coal India. Besides, there will be nine other PSUs as well as REC and PFC. SUUTI's holding in ITC has also been included. CLICK HERE FOR FULL REPORT

3:45 PM

Top Sensex gainers and losers 

Source: BSE

3:42 PM

Market breadth

The breadth, indicating the overall health of the market, was negative. On the BSE, 1,388 shares fell and 1,198 shares rose. A total of 172 shares remained unchanged. 

3:40 PM

In the broader market, the BSE Midcap outperformed to gain 0.6%, while the BSE Smallcap index settled little changed. 

3:35 PM

Markets at close

The Sensex ended at 32,325, up 87 points, while the Nifty50 closed at 10,066, up 52 points. Both indices settled the week marginally higher.  

3:30 PM

IOC crosses Rs 2 lakh crore m-cap

The market capitalisation of Indian Oil Corp crossed Rs 2 lakh crore, surpassing ICICI Bank, Larsen & Toubro and Bharti Airtel. The stock was the top Nifty gainers, up over 10%.

3:21 PM

Arun Jaitley on divestment roadmap 

Cochin Shipyard IPO one of the most successful in recent times

3:19 PM

Arun Jaitley on divestment roadmap

Revised divestment target in FY17 Was Rs 45,500 crore, and we realised Rs 46,247 crore 

3:16 PM

Arun Jaitley on divestment agenda

Bharat-22 ETF will have sectoral share capping of 20%. It will also have some holdings of SUUTI, CPSE ETF and PSU Banks. Single company stock cap in Bharat-22 ETF will be at 15%

3:14 PM

Arun Jaitley on divestment rodemap  

Created new ETF under the name of Bharat-22 

3:13 PM

Arun Jaitley on divestment rodemap

Have very stiff divestment target of Rs 72,500 crore for FY18 

3:11 PM

Finance Minister Arun Jaitley on divestment rodemap

Have raised Rs 9,300 crore via divestment in FY18 so far

3:04 PM

Earnings impact

HPCL surged over 8% to Rs 429 after the public sector undertaking reported a Rs 924.75 crore net profit for the June quarter, less than half the Rs 2,098 crore net profit reported for the corresponding quarter of the last financial year.

 

The oil refiner also incurred a hit in Gross Refinery Margins. GRM for the quarter ending June 30 stood at $5.86 per barrel. The GRM was $6.83 per barrel in the last financial year.

2:59 PM

European markets 

 

European markets opened mixed as investors monitored earnings reports and awaited US jobs report. FTSE 100 and CAC 40 were up 0.1%, while Euro Stoxx 50 was little changed.  

2:29 PM

HPCL Q1 earnings

 

PAT comes in at Rs 924.7 crore vs ₹2098 crore YoY

Gross Refining Margins (GRMs) at $5.86/bbl

Sales at Rs 59,891 crore vs Rs 51,600 crore YoY
 

2:17 PM

All but Nifty Pharma index was trading in green in noon deals 

Source: NSE

2:12 PM

Markets check

At 2:10 pm, the Sensex was trading at 32,257, up 20 points, while the broader Nifty50 was up 26 points at 10,039. 

2:01 PM

Earnings impact

Indian Oil Corp gained as much as 5% to Rs 406 after the company reported better-than-expected first-quarter profit on Thursday. 

1:22 PM

RIL snaps two-day gaining streak

 

Reliance Industries shed over 2% to Rs 1,615 and was one of the top five losers on the Sensex. The fall came after two consecutive sessions of gains as investors locked in profits. The stock hit a record high on Thursday. 

1:04 PM

Market Check

 

At 1:04 pm, the S&P BSE Sensex was trading at 32,168, down 70 points while the broader Nifty50 index was ruling at 10,010, down 3  points.

In broader markets, the BSE Midcap outpweformed markets, up 0.1% while BSE Smallcap index was little changed.

12:46 PM

Top Sensex gainers and losers

Source: BSE

12:05 PM

Govt looking to sell up to 25% stake in four defence companies

According to a Reuters report, the government of India is considering selling up to 25% of its stake in four state-owned companies under the control of the department of defence through an initial public offering, a public notice showed on Friday.

 

The government has invited proposals for the IPO by 3 pm on Aug. 18. The government is looking to sell stakes in Mazagon Dock, Bharat Dynamics, Garden Reach Shipbuilders & Engineers and Mishra Dhatu Nigam.

11:46 AM

Biocon has slipped 8% to Rs 347 after the US Food and Drug Administration (FDA) issued Form 483 with 10 observations after inspecting the company’s Bengaluru plant. 

 

Biocon on Monday, On July 31, 2017, said that this USFDA visit was a part of the regular periodic audit for small molecule injectable.

 

The company has responded to the regulator with a corrective and preventive action plan and is on track to implement them in timely manner, the company spokesperson said in response to media queries regarding the USFDA visit to Biocon in the month of May/June 2017.

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11:45 AM

Pharma stocks drag

Shares of pharmaceutical companies were trading under pressure with the frontline stocks like Sun Pharmaceutical Industries, Lupin and Dr Reddy’s Laboratories hitting their respective 52-week lows in morning trade.

11:18 AM

Ceat tanks

Shares of Ceat tanked 8% on the BSE after the tyre maker reported a 98.6% decline in its consolidated net profit at Rs 1.38 crore for the June quarter due to destocking by trade partners ahead of the GST rollout and higher expenses. 

 

The company had posted a net profit of Rs 103.26 crore during the corresponding period of the previous fiscal, Ceat said in a BSE filing.

11:08 AM

In broader markets, BSE Midcap and BSE Smallcap indices fell 0.4% and 0.2% respectively

10:42 AM

Market Check

At 10:42 am, the S&P BSE Sensex was trading at 32,133, down 104 points while the broader Nifty50 index was ruling at 10,000, down 13  points

10:26 AM

Titan Company hit a record high of Rs 616, up 10% on BSE in early morning trade, after the company’s consolidated net profit in June quarter nearly doubled at Rs 238 crore, on back of healthy growth in jewellery business. Tata Group Company had profit of Rs 121 crore in the same quarter last fiscal.

10:14 AM

RBI likely to cut rates again by 2017-end: Chris Wood of CLSA

 

There is more room for the Reserve Bank of India (RBI) to cut rates even after the recent 25 basis point (bps) cut earlier this week, and it is likely that the central bank will do so one more time before the end of calendar year 2017 (CY17) given the high real interest rates in India, writes Christopher Wood, managing director and equity strategist at CLSA in his weekly note, GREED & fear.

 

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