You are here: Home » News-CM » Equities » Market Report
Business Standard

Benchmarks hit fresh intraday low; Nifty below 11,500 mark

Capital Market 

Key equity benchmarks further extended losses and hit fresh intraday low in mid-morning trade. The Nifty 50 index slipped below 11,500 mark.

At 11:25 IST, the barometer index, the S&P BSE Sensex, was down 374.46 points or 0.96% at 38,523. The Nifty 50 index was down 116.55 points or 1.01% at 11,480.35.

The S&P BSE Mid-Cap index was down 0.98%. The S&P BSE Small-Cap index fell 1.23%.

The market breadth was weak. On the BSE, 499 shares rose and 1549 shares fell. A total of 104 shares were unchanged.

Index heavyweight Reliance Industries (RIL) fell 0.23% ahead of its Q1 result today, 19 July 2019.

Most realty shares fell. Oberoi Realty (down 2.54%), Housing Development and Infrastructure (HDIL) (down 2.14%), DLF (down 1.91%), Sunteck Realty (down 1.63%), Mahindra Lifespace Developers (down 1.36%), Phoenix Mills (down 1.12%), Prestige Estates Projects (down 1.11%), Sobha (down 1.11%), Godrej Properties (down 1.02%), Anant Raj (down 1.01%) and D B Realty (down 0.89%) declined.

Peninsula Land (up 3.1%), Unitech (up 0.95%), Parsvnath Developers (up 0.43%), Omaxe (up 0.33%) and Indiabulls Real Estate (up 0.22%) advanced.

Power shares were mixed. NTPC (up 1.89%), NHPC (up 1.5%), Coal India (up 1%), Power Grid Corporation of India (up 0.39%), Tata Power (up 0.23%), GMR Infrastructure (up 0.2%) and JSW Energy (up 0.07%) advanced.

Jaiprakash Power Ventures (down 4.93%), Reliance Power (down 2.09%), Adani Power (down 1.6%), Reliance Infrastructure (down 0.93%), Torrent Power (down 0.48%) and CESC (down 0.32%) declined.

Thermax was up 1.76%. The company announced after market hours yesterday, 18 July 2019, that it has concluded an order of Rs 471 crore from an Indian government power company to set up two flue gas desulphurisation (FGD) systems at their thermal power plant in the state of Jharkhand.

Larsen & Toubro was down 0.88%. The company announced during market hours today, 19 July 2019, that the power business of Larsen & Toubro has bagged significant engineering, procurement and construction (EPC) orders from Damodar Valley Corporation (DVC) to set up flue gas desulphurisation (FGD) systems in three power plants of DVC - Durgapur Steel Thermal Power Station (2x500 MW), Mejia Thermal Power Station (2x500 MW) and Raghunathpur Thermal Power Station (2x600 MW) - in West Bengal. The valuation of the orders in the significant category falls between Rs 1000 to Rs 2500 crore.

JSW Steel was down 0.66%. The company announced during market hours today, 19 July 2019, that it has begun the roll-out of JSW Platina, premium tinplate targeted at packaging industry.

Srei Infrastructure Finance was up 0.31%. The company after market hours yesterday, 18 July 2019, announced that it has withdrawn the scheme of arrangement and amalgamation between Srei Infrastructure Finance and its wholly-owned subsidiary Srei Equipment Finance on account of developing market conditions in the NBFC sector.

Hudco was down 1.19%. The company announced after market hours yesterday, 18 July 2019, that its board has approved the issue/ allotment of unsecured, redeemable, non-convertible, non-cumulative taxable bonds in the nature of debentures of face value of Rs.10,00,000 each (Series-C 2019) aggregating upto Rs 1,250 crore on private placement basis.

Market regulator Sebi yesterday, 18 July 2019, proposed stricter disclosures, including detailed reasons, on resignation of auditors, amid rising instances of auditors quitting companies. Besides, an auditor would have to provide appropriate disclaimer in case of auditor's resignation is due to non-receipt of information from the company concerned. The regulator also proposed to further strengthen and clarify the role of audit committees of the listed firms.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 19 2019. 11:27 IST