Market hits fresh intraday low

Key indices hit fresh intraday low in mid-afternoon trade. At 14:24 IST, the barometer index, the S&P BSE Sensex, was down 115.63 points or 0.31% at 37,570.74. The Nifty 50 index was down 36.50 points or 0.33% at 11,152.70.

The Nifty is trading below its 200-day simple moving average (DMA) placed at 11,144.21.

Broader market underperformed the Sensex. The S&P BSE Mid-Cap index was down 1.12%. The S&P BSE Small-Cap index was fell 1.44%.

The market breadth, indicating the overall health of the market, was weak. On the BSE, 703 shares rose and 1445 shares fell. A total of 119 shares were unchanged.

Piramal Enterprises rose 3.04%. On a consolidated basis, Piramal Enterprises reported net profit of Rs 450.89 crore in Q1 June 2019 compared with net loss of Rs 68.94 in Q1 June 2018. Revenue from operations rose 21% to Rs 3506.25 crore in Q1 June 2018 over Q1 June 2018. The result was announced during market hours today, 30 July 2019.

United Bank of India jumped 4.62%. The bank reported net profit of Rs 104.99 crore in Q1 June 2019 compared with net loss of Rs 388.68 crore in Q1 June 2018. Total income rose 17.78% to Rs 3003.13 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 30 July 2019.

Most FMCG stocks fell. Jyothy Laboratories (down 2.73%), Tata Global Beverages (down 2.23%), Britannia Industries (down 1.61%), Bajaj Corp (down 1.6%), Godrej Consumer Products (down 1.16%), Marico (down 0.18%) and Procter & Gamble Hygiene & Health Care (down 0.05%) declined.

Colgate Palmolive (India) (up 1.7%), Hindustan Unilever (up 1.22%), GlaxoSmithKline Consumer Healthcare (up 0.7%), Nestle India (up 0.06%) and Dabur India (up 0.05%) advanced.

Prism Johnson fell 0.11%. On a consolidated basis, Prism Johnson's net profit fell 18.95% to Rs 51.04 crore on a 3.09% rise in the total income to Rs 1603.13 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 30 July 2019.

Granules India rose 0.55%. On a consolidated basis, Granules India's net profit rose 60.71% to Rs 83.24 crore on a 27.6% rise in the total income to Rs 597.12 crore in Q1 June 2019 over Q1 June 2018. The result was announced during market hours today, 30 July 2019.

Ramco Systems gained 1.44%. The company announced during market hours today, 30 July 2019 that it has partnered with Life Flight Network, a nationally-recognized, not-for-profit air medical service based in Aurora, Oregon.

The yield on India's 10-year benchmark federal paper fell to 6.385% at 14:19 IST compared with 6.412% at close in the previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 68.7575, compared with its close of 68.7500 during the previous trading session.

MCX Gold futures for 5 August 2019 settlement fell 0.17% at Rs 34,651.

In the commodities market, Brent crude for September 2019 settlement was up 55 cents at $64.26 a barrel. The contract rose 25 cents or 0.39% to settle at $ 63.71 a barrel in the previous trading session.

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