Sensex Today: Sensex ends 623 points lower, Nifty at 10,925; Auto stocks decline

Following the annual general meeting presented by co chairman Mukesh Ambani, the share of the Reliance Industries have reacted positively in today's trade. Reliance Industries shares spike 6.1% in pre-open trade and by the opening bell, the stock started the day's tarded at 6% and later rose over 9% by the first hour of trade on BSE.  

Sensex Today: Benchmark Indices closed broadly on a bullish note on back of positive global cues coupled with reports suggesting that Indian govt is likely to exempt foreign portfolio investors from an increase in taxes. Sensex on Friday ended 254 points higher at 37,581 level and Nifty ended at 11,109, registering a rise of 77 points Sensex Today: Sensex ends 254 points higher, Nifty at 11,109; Auto stocks rise

Asian markets like Nikkei and Hong Kong Index declined over 1% each concern of jitters over Hong Kong protests. U.S. stocks dropped 1.5% in a broad sell-off as simmering geopolitical tensions spooked equity investors and drove a bond market rally while the protracted U.S.-China trade war stoked fears of impending recession. Investor sentiments globally are already weak due to increasing signs that the United States and China will not quickly resolve their year-long trade war. This uncertainity was coupled with on going protests in Hong Kong that begun in opposition to a bill allowing extraditions to mainland China. In local ground, tensions have skyrocketed in Kashmir, amid total lock down after the decision that scrapped the Himalayan region’s special rights an dturned J&k and Ladakh into UTs. Moreover, with the upcoming Independence Day, high security measures are being put in place in multiple cities as Indian Security agencies on Sunday sent the Delhi Police an alert regarding terrorist organisations planning to carry out terror operation across the nation and near the Red Fort.  

Rupee traded at 71.08 against the dollar from its last close 70.81on Tuesday amid strengthening of the American currency and weak opening in domestic equities. Today the Indian rupee opened at 6-month low,  and weakened past 71 later against the US Dollar. Forex traders said the strength of the US dollar against other overseas currencies and concerns about US-China trade negotiations also kept investors edgy. The Indian rupee on Friday had closed at 70.78 against the US dollar.  

 Meanwhile, foreign institutional investors (FIIs) were net buyers in the capital markets, putting in Rs 203.73 crore on Friday, according to provisional exchange data.  

European market again opened in the red amid global political uncertainty, CAC index was trading down by 14 points, DAX index fallen by 38 points, while FTSE was trading down by 13 points.  

Dilip Buildcon announced today to the exchanges that it has recieved  letter of acceptance (LOA) from the Water Resources Deparbnent Govemment of Jharkhand. "Construction of Kharkai Dam at Icha with all control gates and its allied works including civil, Mechanical (with Design of Gates), Electrical and SCADA System under SMP in the state of Jharkhand" the regulatory fling said. The project worth the cost amounting 972.28 cr has a completion duration of 36 months.  

Pidilite Industries Ltd has entered into a joint venture with Corporacion Empresarial Grupo Puma S.L. (Grupo Puma) a leading technical mortars manufacturer based in Spain to establish a Joint Venture Company (JVC) in India. The joint venture will provide a comprehensive array of technical mortars for wide applications ranging from flooring, wall plasters, textured wall plasters, decorative plasters and insulation. Grupo Puma will license the technology to the JVC which will invest in a modern manufacturing facility in India. The entity will service the key markets of SAARC (excluding Pakistan) and Myanmaar.

Symphony announced today that it has launched a unique new range of Commercial Air Coolers, under the brand ’Movicool’. After conducting initial field trials last summer we are now ready for national launch of this range. Commercial coolers are essentially portable coolers which can cool very large spaces.

  Maruti Suzuki's new True Value has rapidly expanded to over 250 digitally integrated independent showrooms in 151 cities, company sadi in a regulatory filing. "In the last two years, True Value has sold over 8 lakh units with Alto, WagonR and Swift being the most popular models. The True Value buyers are mostly in the age group 25-45 years," the filing added.

Minda Corp the flagship company of Spark Minda Group, announced the signing of Technical Assistance Agreement (TAA) with Infac Elecs co. of South Korea to manufacture Automotive Antenna Systems.

Auto component major Bosch on Tuesday reported 35.04 per cent decline in its consolidated net profit at Rs 279.95 crore for the first quarter ended June 30, 2019, hit by slowdown in the domestic automobile industry.

The company, which had posted a net profit of Rs 430.98 crore for the same period of previous fiscal, said it has initiated several measures including "manpower adjustments" to remain competitive in the market.

During the period under review, the company's revenue from operations declined to Rs 2,778.82 crore for the April-June quarter from Rs 3,212.15 crore in the year-ago period, Bosch said in a regulatory filing.

The Bengaluru-based firm said the Indian automotive market is undergoing major changes as a result of various economic, regulatory, technological and market factors, including opportunities arising in electric mobility segment.

Sensex Today: Benchmark Indices Sensex and Nifty pared all initial gains and traded broadly lower by the last hour of trading session on Tuesday, on back of weak domestic and global cues. On Tuesday Sensex ended 623 points lower at 36,958 and Nifty50 closed  183 points lower at 10,925 mark.