Business Today

Sensex Today: Sensex ends 286 points lower, Nifty at 10,855 mark; Indiabulls Housing falls 13%

BusinessToday.In | 07 August 2019

Sensex Today: Domestic markets closed on a bearish note Wednesday after a volatile trading session on account of global and domestic cues. Sensex closed 286 points lower at 36,690, while NSE Nifty ended at 10,855, registering a decline of 92 points.

 

 

 

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  • Sensex Today: Benchmarks BSE Sensex and NSE Nifty turned bearish by the afternoon trade on Wednesday. Sensex closed 286 points lower at 36,690, while NSE Nifty ended at 10,855, registering a decline of 92 points.
  • 16:06 IST

    Closing Bell

    Sensex Today: Domestic markets closed on a bearish note Wednesday after a volatile trading session on account of global and domestic cues. Sensex on Wednesday closed 286 points lower at 36,690, while NSE Nifty ended at 10,855, registering a decline of 92 points.
     

  • 16:06 IST: Sensex Today: Domestic markets closed on a bearish note Wednesday after a volatile trading session on account of global and domestic cues. Sensex on Wednesday closed 286 points lower at 36,690, while NSE Nifty ended at 10,855, registering a decline of 92 points.
     

  • 15:03 IST

    Market Update

    Sensex Today: Domestic markets trade on a volatile note, almost flat to negative, on account of global and domestic cues. Benchmarks BSE Sensex and NSE Nifty turned volatile in afternoon trade on Wednesday with Nifty trading lower at 10,950 level and Sensex below 36,953, after the RBI slashed benchmark lending rate, but lowered the GDP growth estimates for the current financial year.

    By the afternoon session, Sensex has fallen over 150 points and Nifty below the 11,900 mark.

    Except Pharma, Media, IT and FMCG, all the other indices currently trade in the red, with major declines registered in Metal, Commodity, Energy and Realty stocks.

     

  • 15:03 IST: Sensex Today: Domestic markets trade on a volatile note, almost flat to negative, on account of global and domestic cues. Benchmarks BSE Sensex and NSE Nifty turned volatile in afternoon trade on Wednesday with Nifty trading lower at 10,950 level and Sensex below 36,953, after the RBI slashed benchmark lending rate, but lowered the GDP growth estimates for the current financial year.

    By the afternoon session, Sensex has fallen over 150 points and Nifty below the 11,900 mark.

    Except Pharma, Media, IT and FMCG, all the other indices currently trade in the red, with major declines registered in Metal, Commodity, Energy and Realty stocks.

     

  • 14:51 IST

    IHF stock falls post result

    Indiabulls Housing Finance Ltd (IBHFL) on Tuesday reported a 24% fall in net profit at Rs 802 crore for the first quarter ended June 30 as against Rs 1,055 crore recorded in the corresponding period of the previous fiscal.

    The company's total income fell to Rs 3,886.12 crore during the June quarter as against Rs 4,071.32 crore in the year-ago period.

  • 14:51 IST: Indiabulls Housing Finance Ltd (IBHFL) on Tuesday reported a 24% fall in net profit at Rs 802 crore for the first quarter ended June 30 as against Rs 1,055 crore recorded in the corresponding period of the previous fiscal.

    The company's total income fell to Rs 3,886.12 crore during the June quarter as against Rs 4,071.32 crore in the year-ago period.

  • 14:50 IST

    CCD hits fresh 52-week low


    Coffee Day Enterprises share price fell for the 12th straight session in trade on Wednesday since company's MD and Chairman VG Siddhartha went missing on the evening of July 29. Siddhartha's body was recovered from Netravathi river on the morning of July 31. The stock hit a historic fresh low of 81.25 after it was locked in lower circuit of 4.97% on BSE and NSE today.

    Starting the day with another gap down pattern, Coffee Day Enterprises share price opened at a loss of 4.97% to the lower circuit of Rs 81.25 as compared to the previous close of 85.50 on BSE. There were only sellers offering and no buyers bidding for the stock.

    CCD stock has fallen 34% in the last week's period.Overall 2,196 shares and 0.81 lakh shares changed hands on the bourses BSE and NSE. 

  • 14:50 IST:
    Coffee Day Enterprises share price fell for the 12th straight session in trade on Wednesday since company's MD and Chairman VG Siddhartha went missing on the evening of July 29. Siddhartha's body was recovered from Netravathi river on the morning of July 31. The stock hit a historic fresh low of 81.25 after it was locked in lower circuit of 4.97% on BSE and NSE today.

    Starting the day with another gap down pattern, Coffee Day Enterprises share price opened at a loss of 4.97% to the lower circuit of Rs 81.25 as compared to the previous close of 85.50 on BSE. There were only sellers offering and no buyers bidding for the stock.

    CCD stock has fallen 34% in the last week's period.Overall 2,196 shares and 0.81 lakh shares changed hands on the bourses BSE and NSE. 

  • 14:47 IST

    Lupin trades 4% higher post results

    Lupin's Net profits for the quarter were up 4.7% quarter on quarter and almost 50% higher on a yearly basis. Sales were up 15% y-o-y, EBITDA has increased 31.1%.Investment in Research and Development for the quarter was INR 3,785 m., representing 8.7% of sales, company added in a statement.

    Commenting on the results, Mr. Nilesh Gupta, Managing Director, Lupin Limited said, “We are pleased with the robust all-round performance in our key markets, marking a healthy start for the fiscal year."

    The stock price of Lupin has risen over 4% intraday since the announcement of Q1 earnings and the stock currently trades at the high value of the day, at Rs 782.85 on BSE. 

  • 14:47 IST: Lupin's Net profits for the quarter were up 4.7% quarter on quarter and almost 50% higher on a yearly basis. Sales were up 15% y-o-y, EBITDA has increased 31.1%.Investment in Research and Development for the quarter was INR 3,785 m., representing 8.7% of sales, company added in a statement.

    Commenting on the results, Mr. Nilesh Gupta, Managing Director, Lupin Limited said, “We are pleased with the robust all-round performance in our key markets, marking a healthy start for the fiscal year."

    The stock price of Lupin has risen over 4% intraday since the announcement of Q1 earnings and the stock currently trades at the high value of the day, at Rs 782.85 on BSE. 

  • 14:46 IST

    State Bank of India cuts benchmark lending rates by 15 bps



    State Bank of India has announced today that its one-year marginal cost of fund-based lending rate, or the MCLR, will come down to 8.25% per annum from 8.40%, effective from August 10.

    "SBI has effected full transmission of repo rate cuts by RBI and has passed on the benefit of repo rate reduction by 85 bps during the current financial year to its CC/OD (cash credit and overdraft) customers with limits above 100,000 rupees," SBI said.

     

  • 14:46 IST:

    State Bank of India has announced today that its one-year marginal cost of fund-based lending rate, or the MCLR, will come down to 8.25% per annum from 8.40%, effective from August 10.

    "SBI has effected full transmission of repo rate cuts by RBI and has passed on the benefit of repo rate reduction by 85 bps during the current financial year to its CC/OD (cash credit and overdraft) customers with limits above 100,000 rupees," SBI said.

     

  • 13:14 IST

    IRB Infrastructure surges 11% on GIC's investment in cos road projects

    Share price of IRB Infrastructure Developers rose 11.5 % in the early trade on August 7 after the announcement of investment by Singapore’s sovereign wealth fund in company's road operations.
    The company in its press release said about investment by affiliates of GIC, Singapore’s sovereign wealth fund, in its road platform.

     

    IRB Infra has formed a gap up chart pattern today at the opening session Wednesday, registering a gain of 4.88% to Rs 100.00 on BSE.

    Share price of IRB Infrastructure Developers Ltd later climbed 11.17% higher to touch the day's high of Rs 106.00.

    Overall the stock has gained 17% price value in the last 2 days of trade. Moreover, IRB Infra has moved above its 50-day simple moving average in today's trade. It trades higher than 30-day average but lower than 150 and 200-day moving average.

     

     

  • 13:14 IST:

    Share price of IRB Infrastructure Developers rose 11.5 % in the early trade on August 7 after the announcement of investment by Singapore’s sovereign wealth fund in company's road operations.
    The company in its press release said about investment by affiliates of GIC, Singapore’s sovereign wealth fund, in its road platform.

     

    IRB Infra has formed a gap up chart pattern today at the opening session Wednesday, registering a gain of 4.88% to Rs 100.00 on BSE.

    Share price of IRB Infrastructure Developers Ltd later climbed 11.17% higher to touch the day's high of Rs 106.00.

    Overall the stock has gained 17% price value in the last 2 days of trade. Moreover, IRB Infra has moved above its 50-day simple moving average in today's trade. It trades higher than 30-day average but lower than 150 and 200-day moving average.

     

     

  • 12:42 IST

    Avenue Supermarts falls 2% as promoter to cut stake in company

    Shares of D-Mart operator Avenue Supermarts slipped more than 2% in the early trade on August 7 on reports of promoter cutting their stake in the company.

    The stock price of Avenue Supermarts opened at Rs 1467, down 22 points against yesterday's close of Rs 1489.75 and slipped 2.59% to the day's low of Rs 1,451.20 on BSE.

  • 12:42 IST: Shares of D-Mart operator Avenue Supermarts slipped more than 2% in the early trade on August 7 on reports of promoter cutting their stake in the company.

    The stock price of Avenue Supermarts opened at Rs 1467, down 22 points against yesterday's close of Rs 1489.75 and slipped 2.59% to the day's low of Rs 1,451.20 on BSE.

  • 12:32 IST

    Market Update

    Sensex Today: RBI cuts repo rate by 35 bps to 5.40% on Wednesday, that is above expectations, on its fourth cut in 2019 to try to boost a sluggish economy growing at its slowest pace in nearly five years, keeping policy stance maintained at accommodative.

    Although the volatile market traded bullish momentarilly post the decision, indices pared the gains to trade falt again, with selling seen in major indices post the decision.

    Indices from CPSE, PSE, Energy, Metal, Auto and Infra were declining post the RBI policy, however, majority of the remaining indices turned green.

  • 12:32 IST: Sensex Today: RBI cuts repo rate by 35 bps to 5.40% on Wednesday, that is above expectations, on its fourth cut in 2019 to try to boost a sluggish economy growing at its slowest pace in nearly five years, keeping policy stance maintained at accommodative.

    Although the volatile market traded bullish momentarilly post the decision, indices pared the gains to trade falt again, with selling seen in major indices post the decision.

    Indices from CPSE, PSE, Energy, Metal, Auto and Infra were declining post the RBI policy, however, majority of the remaining indices turned green.

  • 12:29 IST

    Indiabulls Housing Finance fall 9%

    Share price of Indiabulls Housing Finance fell 9% &touched an intraday low of Rs 464 on BSE, after the company reported a fall in June-quarter profit on Tuesday. The stock trades  3.01% away from 52 low of Rs 458.00

    Indiabulls Housing Finance Ltd (IBHFL) on Tuesday reported a 24% fall in net profit at Rs 802 crore for the first quarter ended June 30 as against Rs 1,055 crore recorded in the corresponding period of the previous fiscal.

    The company's total income fell to Rs 3,886.12 crore during the June quarter as against Rs 4,071.32 crore in the year-ago period. 

  • 12:29 IST: Share price of Indiabulls Housing Finance fell 9% &touched an intraday low of Rs 464 on BSE, after the company reported a fall in June-quarter profit on Tuesday. The stock trades  3.01% away from 52 low of Rs 458.00

    Indiabulls Housing Finance Ltd (IBHFL) on Tuesday reported a 24% fall in net profit at Rs 802 crore for the first quarter ended June 30 as against Rs 1,055 crore recorded in the corresponding period of the previous fiscal.

    The company's total income fell to Rs 3,886.12 crore during the June quarter as against Rs 4,071.32 crore in the year-ago period. 

  • 12:24 IST

    IndiGo rises 2% amid reports of continued fued among promoters

    Interglobe Aviation stock price has risen 2.14% to an intraday high of Rs 1,524.25 on BSE.

    As per recent reports, feud among the co-promoter Rahul Bhatia, Gangwal continues as Rakesh Gangwal has said there are "serious unresolved issues" and opposed expanding the board, just weeks ahead of the company's annual shareholders' meet.

  • 12:24 IST: Interglobe Aviation stock price has risen 2.14% to an intraday high of Rs 1,524.25 on BSE.

    As per recent reports, feud among the co-promoter Rahul Bhatia, Gangwal continues as Rakesh Gangwal has said there are "serious unresolved issues" and opposed expanding the board, just weeks ahead of the company's annual shareholders' meet.

  • 11:51 IST

    RBI reduces rate by 35bps to 5.40%



    RBI has reduced rate by 35bps to 5.40%. The MPC also decided to maintain the accommodative stance of monetary policy. The MPC notes that inflation is currently projected to remain within the target over a 12-mont ahead horizon.

    Consequently, the reverse repo rate under the LAF stands revised to 5.15 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 5.65 per cent. RBI has thus revised downwards GDP growth for 2019/20 to 6.9 percent from 7.0 percent.

    Since the last policy, domestic economic activity continues to be weak, with the global slowdown and escalating trade tensions posing downside risks. Private consumption, the mainstay of aggregate demand, and investment activity remain sluggish. Even as past rate cuts are being graduall transmitted to the real economy, the inflation outlook provides headroom for policy action to close the negative output gap. Addressing growth concerns by boosting aggregate demand, especially private investment, assumes the highest priority at this juncture while remaining consistent with the inflation mandate.

  • 11:51 IST:

    RBI has reduced rate by 35bps to 5.40%. The MPC also decided to maintain the accommodative stance of monetary policy. The MPC notes that inflation is currently projected to remain within the target over a 12-mont ahead horizon.

    Consequently, the reverse repo rate under the LAF stands revised to 5.15 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 5.65 per cent. RBI has thus revised downwards GDP growth for 2019/20 to 6.9 percent from 7.0 percent.

    Since the last policy, domestic economic activity continues to be weak, with the global slowdown and escalating trade tensions posing downside risks. Private consumption, the mainstay of aggregate demand, and investment activity remain sluggish. Even as past rate cuts are being graduall transmitted to the real economy, the inflation outlook provides headroom for policy action to close the negative output gap. Addressing growth concerns by boosting aggregate demand, especially private investment, assumes the highest priority at this juncture while remaining consistent with the inflation mandate.

  • 11:27 IST

    NSE & Singapore Exchange win approval for joint derivatives project


    India’s National Stock Exchange (NSE) and the Singapore Exchange (SGX) have been given the go-ahead for a planned collaboration in trading stock index-based products from an international financial centre being developed in western India.

    The two said on Tuesday they had won regulatory approval for their plan, which has been under discussion for months and which envisages bringing trading of the SGX’s Nifty futures contract, based on the NSE’s Nifty 50 index, to the new centre.

    (Reuters)

     

  • 11:27 IST:
    India’s National Stock Exchange (NSE) and the Singapore Exchange (SGX) have been given the go-ahead for a planned collaboration in trading stock index-based products from an international financial centre being developed in western India.

    The two said on Tuesday they had won regulatory approval for their plan, which has been under discussion for months and which envisages bringing trading of the SGX’s Nifty futures contract, based on the NSE’s Nifty 50 index, to the new centre.

    (Reuters)

     

  • 10:58 IST

    DII/ FII

    Net investment of equity and debt reported by foreign portfolio investors (FPIs) remained bearish with net selling logged at Rs 2,107.93 crore from Indian equities while domestic institutional investors (DIIs) bought Rs 2,289.05 crore on Tuesday.

     

  • 10:58 IST: Net investment of equity and debt reported by foreign portfolio investors (FPIs) remained bearish with net selling logged at Rs 2,107.93 crore from Indian equities while domestic institutional investors (DIIs) bought Rs 2,289.05 crore on Tuesday.

     

  • 10:56 IST

    J&K Bank hits 20% upper circuit

    Stock price of Jammu and Kashmir bank is locked in 20% upper circuit for the day's trade at Rs 45 on BSE. Today the stock opened with a gain of 14.13% and later climbed.

    In a clarification note, bourses have asked the listed entity with respect to meida reports quoting,"RBI slaps 8.50-cr fine on 11 banks".

  • 10:56 IST: Stock price of Jammu and Kashmir bank is locked in 20% upper circuit for the day's trade at Rs 45 on BSE. Today the stock opened with a gain of 14.13% and later climbed.

    In a clarification note, bourses have asked the listed entity with respect to meida reports quoting,"RBI slaps 8.50-cr fine on 11 banks".

  • 10:00 IST

    Rupee opens lower

    Indian Rupee, the local currency, opens lower at 70.96 per Amercian dollar than yesterday's close of 70.81 per US dollar.

  • 10:00 IST: Indian Rupee, the local currency, opens lower at 70.96 per Amercian dollar than yesterday's close of 70.81 per US dollar.

  • 09:57 IST

    Earnings scheduled for today


    The listed companies that are likely to post quarterly results today include Voltas, Welspun Corp, Punjab & Sind Bank, Tata Steel, HCL Technologies, Lupin, Cipla, Aurobindo Pharma, Mahindra & Mahindra, Siemens, Cummins India, HPCL, Honda Siel Power Products, Birlasoft, GOCL Corporation, Anup Engineering, Praxis Home Retail,  Dollar Industries, Signet Industries, Bhagyanagar Properties, Tasty Bite Eatables, Geojit Financial Services, Aster DM Healthcare, DCM Nouvelle, Garware Technical Fibres, Adani Gas, Adani Power, Adani Ports, Adani Green Energy, Matrimony.Com, INEOS Styrolution India, Navkar Corporation, IZMO, Bhagyanagar India, Lemon Tree Hotels, Surana Solar, Ramco Cements, Themis Medicare, Tata Teleservices (Maharashtra), Star Paper Mills, Rajesh Exports, Welspun Investments, Allcargo Logistics, Maharashtra Seamless, Sundram Fasteners, Schneider Electric Infrastructure, Ingersoll Rand, GeeCee Ventures,  BAG Films and Media, AstraZeneca Pharma, Indian Metals & Ferro Alloys, Kalyani Steels, SREI Infrastructure Finance, Kalyani Investment, Gravita India, Sonata Software, Surana Telecom and Power, Patspin India, KEC International, Precision Wires India, Shreyas Shipping, J Kumar Infraprojects, Phoenix Mills, GTN Textiles, Kothari Sugars, KCP Sugar, Oracle Financial Services Software, Jindal Drilling, Sudarshan Chemical Industries, Ramco Industries, India Cements, Gokul Refoils, Uttam Sugar Mills, Gujarat Lease Financing, Ramco Systems, Balrampur Chini Mills, Bajaj Electricals, ITI, PTC India

  • 09:57 IST:
    The listed companies that are likely to post quarterly results today include Voltas, Welspun Corp, Punjab & Sind Bank, Tata Steel, HCL Technologies, Lupin, Cipla, Aurobindo Pharma, Mahindra & Mahindra, Siemens, Cummins India, HPCL, Honda Siel Power Products, Birlasoft, GOCL Corporation, Anup Engineering, Praxis Home Retail,  Dollar Industries, Signet Industries, Bhagyanagar Properties, Tasty Bite Eatables, Geojit Financial Services, Aster DM Healthcare, DCM Nouvelle, Garware Technical Fibres, Adani Gas, Adani Power, Adani Ports, Adani Green Energy, Matrimony.Com, INEOS Styrolution India, Navkar Corporation, IZMO, Bhagyanagar India, Lemon Tree Hotels, Surana Solar, Ramco Cements, Themis Medicare, Tata Teleservices (Maharashtra), Star Paper Mills, Rajesh Exports, Welspun Investments, Allcargo Logistics, Maharashtra Seamless, Sundram Fasteners, Schneider Electric Infrastructure, Ingersoll Rand, GeeCee Ventures,  BAG Films and Media, AstraZeneca Pharma, Indian Metals & Ferro Alloys, Kalyani Steels, SREI Infrastructure Finance, Kalyani Investment, Gravita India, Sonata Software, Surana Telecom and Power, Patspin India, KEC International, Precision Wires India, Shreyas Shipping, J Kumar Infraprojects, Phoenix Mills, GTN Textiles, Kothari Sugars, KCP Sugar, Oracle Financial Services Software, Jindal Drilling, Sudarshan Chemical Industries, Ramco Industries, India Cements, Gokul Refoils, Uttam Sugar Mills, Gujarat Lease Financing, Ramco Systems, Balrampur Chini Mills, Bajaj Electricals, ITI, PTC India

  • 09:57 IST

    GSFC falls 7% to 52-week low post results


    Gujarat State Fertilizers and Chemicals posted net profit of Rs 41.82 crores for the period ended June 30, 2019 (Q1 FY20) as against Rs.70.11 crores Corresponding month last year.

    Gujarat State Fertilizers and Chemicals (GSFC) stock opened at a loss of 2.47% and fell later 7.67% to an intraday low of Rs 71.00, also its new 52 Week low, as the

     

  • 09:57 IST:
    Gujarat State Fertilizers and Chemicals posted net profit of Rs 41.82 crores for the period ended June 30, 2019 (Q1 FY20) as against Rs.70.11 crores Corresponding month last year.

    Gujarat State Fertilizers and Chemicals (GSFC) stock opened at a loss of 2.47% and fell later 7.67% to an intraday low of Rs 71.00, also its new 52 Week low, as the

     

  • 09:31 IST

    Sensex Today: Sensex, Nifty opens flat-to-positive ahead of RBI MPC Meet



    Domestic markets opened on a negative note, on account of global cues. All eyes are on RBI policy meet on Wednesday at which RBI is expected to cut its key policy rate by a quarter percentage point as tepid consumption and investment growth continue to hurt economic expansion.

    Sensex opened 28 points lower at 36,944 and Nifty traded at 10,932, at a decline of 15 points.

     

  • 09:31 IST:

    Domestic markets opened on a negative note, on account of global cues. All eyes are on RBI policy meet on Wednesday at which RBI is expected to cut its key policy rate by a quarter percentage point as tepid consumption and investment growth continue to hurt economic expansion.

    Sensex opened 28 points lower at 36,944 and Nifty traded at 10,932, at a decline of 15 points.

     

  • 09:21 IST

    Brent prices decline

    Brent Crude fell to 6-month low at below $60/bbl

  • 09:21 IST: Brent Crude fell to 6-month low at below $60/bbl

  • 09:20 IST

    Global Market Update

     Asian markets opened on a cautious note. Nikkei Index and China Index slipped by half a percent and 1.5% respectively. SGX Nifty currently declined 40 pts (0.3%).


    On the Wall Street, US Futures slipped 110 pts or 0.4%.US Dow Jones gained over 1% (declined last five trading days) after China fixed the yuan at stronger than 7 per dollar.


     

  • 09:20 IST:  Asian markets opened on a cautious note. Nikkei Index and China Index slipped by half a percent and 1.5% respectively. SGX Nifty currently declined 40 pts (0.3%).


    On the Wall Street, US Futures slipped 110 pts or 0.4%.US Dow Jones gained over 1% (declined last five trading days) after China fixed the yuan at stronger than 7 per dollar.


     

  • 09:09 IST

    Yesterday's Closing Bell

    Sensex closed 277 points higher at 36,976, and Nifty ended at 10,948, recording a rise of 85 points. 

  • 09:09 IST: Sensex closed 277 points higher at 36,976, and Nifty ended at 10,948, recording a rise of 85 points. 

  • 09:04 IST

    Market Update

     Sensex Today: Equity markets opened on a positive note on Tuesday, backed by strong bullish investor sentiments, ahead of RBI MPC meet, scheduled today. Yesterday, Sensex closed 277 points higher at 36,976, and Nifty ended at 10,948, recording a rise of 85 points.

  • 09:04 IST:  Sensex Today: Equity markets opened on a positive note on Tuesday, backed by strong bullish investor sentiments, ahead of RBI MPC meet, scheduled today. Yesterday, Sensex closed 277 points higher at 36,976, and Nifty ended at 10,948, recording a rise of 85 points.