 |
Shares Market to Everyone |
The frontline indices traded in a narrow range with moderate losses in mid-morning trade. The Nifty hovered below the 19,500 level. PSU Bank shares resumed downtrend after advancing in the past trading session.
The barometer index, the S&P BSE Sensex, was down 349.32 points or 0.53% to 65,497.18. The Nifty 50 index lost 90.05 points or 0.46% to 19,480.80.
In the broader market, the S&P BSE Mid-Cap index shed 0.11% while the S&P BSE Small-Cap index gained 0.28%.
The market breadth was positive. On the BSE, 1,830 shares rose and 1,568 shares fell. A total of 157 shares were unchanged.
Results Today:
Tata Power Company (down 0.51%), Zee Entertainment Enterprises (down 2.71%), Abbott India (up 0.06%), Bajaj Consumer Care (down 0.45%), Bata India (down 0.64%), Berger Paints India (up 0.08%), Bharat Forge (down 1.20%), CARE Ratings (up 2.09%), Dreamfolks Services (up 1.70%), eClerx Services (down 0.75%), Granules India (up 0.43%), Indian Railway Catering and Tourism Corporation (up 0.21%), Kalyan Jewellers India (up 3.70%), Max Financial Services (down 1.97%), Natco Pharma (up 1.25%), PI Industries (down 0.10%), Sandhar Technologies (down 1.29%), Schneider Electric Infrastructure (down 0.36%), Shankara Building Products (up 1.15%), Sula Vineyards (up 1.05%), Sunteck Realty (down 0.51%), Trent (up 1.02%) and Zuari Agro Chemicals (up 0.38%)will announce their quarterly earnings later today.
Buzzing Index:
The Nifty Realty index fell 1.15% to 535.10. The index declined 1.33% in two trading sessions.
Brigade Enterprises (down 5.17%), Prestige Estates Projects (down 2.72%), Godrej Properties (down 1.82%), Oberoi Realty (down 1.76%), Indiabulls Real Estate (down 1.39%), Mahindra Lifespace Developers (down 0.59%), Sobha (down 0.55%), DLF (down 0.52%) declined.
On the other hand, Phoenix Mills (up 0.23%) and Macrotech Developers (up 0.12%) edged higher.
Buzzing Index:
The Nifty PSU Bank index declined 1.09% to 4,491.40. The index rallied 3.37% in the past trading sessions.
Among the components of the Nifty Metal index, Welspun Corp (up 3.55%), Adani Enterprises (up 2.28%), APL Apollo Tubes (up 2.14%), Hindustan Copper (up 1.99%) and JSW Steel (up 1.88%) were the top gainers.
Indian Bank (down 3.22%), Canara Bank (down 1.83%), Punjab National Bank (down 1.37%), Bank of Baroda (down 0.98%) and State Bank of India (down 0.54%) were the top losers.
On the other hand, Indian Overseas Bank (up 3.58%) ,Bank of Maharashtra (up 2.48%) and Central Bank of India (up 1.13%) edged higher.
Stocks in Spotlight:
Happiest Minds Technologies declined 0.34%. The company reported 1.16% rise in consolidated net profit to Rs 58.33 crore on 3.41% increase in net sales to Rs 390.87 crore in Q1 FY24 over Q4 FY23. On a year on year basis, the company's net profit and revenues are higher by 3.5% and 18.8%, respectively as compared with Q1 FY23.
Ideaforge Technology tumbled 4.67% after the company's consolidated net profit tumbled 54.3% to Rs 18.86 crore in Q1 FY24 as compared with Rs 41.25 crore in Q1 FY23. Revenue from operations fell 2.22% to Rs 97.07 crore in Q1 FY24 as compared with Rs 99.27 crore in Q1 FY23.
Talbros Automotive Components zoomed 10.26% after the company's board approved the sub-division/split of the existing equity shares from one equity share into five equity shares.
Meanwhile, the company's net profit jumped 46% to Rs 17 crore on a 20% rise in income from operations to Rs 185 crore in Q1 FY24 as compared with Q1 FY23.
SBI Life Insurance Company added 0.74%. The Insurance Regulatory and Development Authority of India (IRDAI) has given its official approval for the appointment of Amit Jhingran as the managing director & CEO of SBI Life Insurance Company.
Vakrangee jumped 5.73% after the company said it has associated with Nexg Devices to offer sale of Vivo smartphones across its network. Nexg Devices is an authorised distributor for sale of Vivo smartphones.
Global Markets:
Asian stocks traded mixed as China's consumer price index fell in July, for the first time in 28 months. Data on Wednesday showed China's consumer prices fell 0.3% in July from a year ago. Producer prices dropped for a 10th consecutive month.
Overnight in the U.S., all three major indexes saw a selloff after Moody's downgraded the credit rating on several regional banks, citing deposit risk, a potential recession and struggling commercial real estate portfolios.
Markets are waiting for the U.S. inflation report on Thursday.
No comments:
Post a Comment