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Aug 10, 2018 03:39 PM IST | Source: Moneycontrol.com

Closing Bell: Anti-climax end on D-Street! Sensex closes over 150 points lower, Nifty gives up 11,450

Banks led the losers’ chart, which dragged benchmarks. There was weakness visible among metals, pharmaceuticals as well as energy names, while auto and FMCG names were in the green.

  • Aug 10, 03:40 PM (IST)

    Market at Close: After seeing fresh records and milestones during the week, it was an anti-climax ending for D-Street on Friday, with the Sensex ending over 150 points lower, while the Nifty giving up 11,450-mark. The 30-share index, which clinched 38,000 during the week, managed to end below that. 

    At the close of market hours, the Sensex ended down 155.14 points or 0.41% at 37869.23, while the Nifty was lower by 41.20 points or 0.36% at 11429.50. The market breadth is narrow as 1,040 shares advanced, against a decline of 1,658 shares, while 140 shares were unchanged.

    Banks led the losers’ chart, which dragged benchmarks. There was weakness visible among metals, pharmaceuticals as well as energy names, while auto and FMCG names were in the green. IT stocks, too, witnessed a rally on the back of a weaker rupee. 

    M&M, TCS, Eicher Motors and BPCL were the top gainers, while SBI, Vedanta, and GAIL ended up being the top losers. 

  • Aug 10, 02:46 PM (IST)

    Hindalco Q1: Aluminium major, Hindalco, reported 43 percent rise in the net profit for June quarter at Rs 413.5 crore, against Rs 289.5 crore that the company reported last year.

    Its revenues grew 8.4 percent at Rs 10,593 crore against Rs 9,775 crore seen during the corresponding quarter of last year.

    At an operating level, the earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 15 percent at Rs 1,325 crore against Rs 1,153 crore year on year. The operating margin came in at 12.5 percent against 11.8 percent YoY.

    The company reported a drop in its other income at Rs 105.5 crore against R 256.3 crore.

     Hindalco Q1:  Aluminium major, Hindalco, reported 43 percent rise in the net profit for June quarter at Rs 413.5 crore, against Rs 289.5 crore that the company reported last year. 

 Its revenues grew 8.4 percent at Rs 10,593 crore against Rs 9,775 crore seen during the corresponding quarter of last year. 

 At an operating level, the earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 15 percent at Rs 1,325 crore against Rs 1,153 crore year on year. The operating margin came in at 12.5 percent against 11.8 percent YoY. 

 The company reported a drop in its other income at Rs 105.5 crore against R 256.3 crore.
  • Aug 10, 02:40 PM (IST)

    Market Update: Volatility gripped the market on Friday afternoon as banks took another U-turn to turn negative. 

    At 14:33 hrs IST, the Sensex is down 116.42 points or 0.31% at 37907.95, while the Nifty is down 36.50 points or 0.32% at 11434.20. The market breadth is negative as 1033 shares have advanced, 1530 shares declined, while 136 shares were unchanged.

    After recovering from the day’s lows, banks had recovered immediately after SBI announced results. But the last few minutes have witnessed another bout of swing among banks. 

    Hero MotoCorp, ITC, Eicher Motors and BPCL were the top gainers, while Sun Pharma, Vedanta, and GAIL lost the most. 

  • Aug 10, 02:22 PM (IST)

    Market Update: A sharp recovery in banks has helped the market erase most of its losses, with benchmarks trading flat. 

    The Sensex is down 30.67 points or 0.08% at 37993.70, while the Nifty is down 10.40 points or 0.09% at 11460.30. The market breadth is narrow as 1,067 shares advanced, against a decline of 1,473 shares, while 141 shares are unchanged.

    The Bank Nifty is back in the green, while PSU banks are seeing a sharp recovery, courtesy of SBI. The shares have pulled back from the day’s low points on the back of positive outlook post Q1 results. Metals and pharmaceuticals are in the red. 

    State Bank of India, Hero MotoCorp, Eicher Motors and BPCL are the top gainers, while Sun Pharma, Vedanta, and Tata Motors have lost the most. 

  • Aug 10, 02:14 PM (IST)

    SBI Q1 loss at Rs 4,876 crore: India’s largest lender, State Bank of India, has reported a net loss of Rs 4,876 crore for the June quarter. The bank reported loss on the back of jump in provisions as well as accounting for all of its treasury losses during the quarter. 

    The bank’s provisions stood at Rs 19,228 crore against Rs 28,096 crore in the previous quarter. It reported provisions of Rs 8,929 crore during the corresponding quarter of last year. 

    It also informed that all mark-to-market was recognized on investments of Rs 5,893 crore. Net interest income came in at Rs 21,798 crore .

  • Aug 10, 01:40 PM (IST)

    Plan to cut oil imports: India aims to cut down its oil import bill by Rs 12,000 crore ($1.74 billion) through increased use of biofuels, Prime Minister Narendra Modi said on Friday.

    The country, which imports up to 80 percent of its oil needs, plans to invest Rs 10,000 crore and would build 12 biofuel refineries, Modi said.

      Plan to cut oil imports:  India aims to cut down its oil import bill by Rs 12,000 crore ($1.74 billion) through increased use of biofuels, Prime Minister Narendra Modi said on Friday. 

 The country, which imports up to 80 percent of its oil needs, plans to invest Rs 10,000 crore and would build 12 biofuel refineries, Modi said.
  • Aug 10, 01:25 PM (IST)

    Turkish Lira at all-time low: Turkey’s lira tumbled to record low against the US dollar after a Turkish delegation returned from meeting US officials in Washington with no apparent solution to a diplomatic rift that has opened up between them.

    The two governments are at odds over the detention in Turkey of US evangelical pastor Andrew Brunson on terrorism charges, and the rift has deepened investor concerns about Turkey’s authoritarian trajectory under President Tayyip Erdogan.

    The currency touched an all-time low level of 6.3 to the US dollar on Friday.

  • Aug 10, 01:09 PM (IST)

    IPO Update: CreditAccess Grameen’s initial public offering (IPO) was subscribed 86 percent so far on Day 3 of bidding.

    The IPO, worth Rs 1,131 crore, got bids for 1.62 crore shares against a total issue size of 1.88 crore shares, data available with NSE, as of 12:45 pm, revealed.

    The portion reserved for qualified institutional buyers (QIBs) was subscribed 2.42 times, non-institutional investors 0.068 times and retail investors 0.4665.

  • Aug 10, 12:45 PM (IST)

    Market Update: Equity benchmarks continued to trade lower, with the Sensex falling over 100 points, while the Nifty dropped quarter of a percent.

    At 12:39 hrs IST, the Sensex is down 104.52 points or 0.27% at 37919.85, while the Nifty is down 29.40 points or 0.26% at 11441.30. The market breadth is negative as 999 shares advanced, against a decline of 1,435 shares, while 116 shares were unchanged.

    Banks have taken it on their chin, as the Bank Nifty fell around half a percent. The Nifty PSU bank index is down over 2 percent. Pharmaceuticals, metals and energy names are other top losers. The Nifty Auto is up, courtesy a rally in Eicher Motors. 

  • Aug 10, 12:04 PM (IST)

    Buzzing: Share price of Bosch added 3.7 percent as company reported strong numbers in the quarter ended June 2018 (Q1FY19).

    The company's Q1 net profit rose 42.4 percent at Rs 431 crore against Rs 302.6 crore in a year ago period.

    Revenue was up 21.3 percent at Rs 3,212 crore versus Rs 2,648 crore.

    Operating profit or EBITDA of the company was up 43 percent at Rs 628.2 crore and margin was at 19.6 percent.

  • Aug 10, 11:23 AM (IST)

    Results Reaction: Shares of Tata Communications slipped 6.3 percent as company reported loss in the quarter ended June 2018.

    The company's Q1FY19 net loss was at Rs 57.95 crore against loss of Rs 120.47 crore, QoQ. The company had reported profit of Rs 32.94 crore in a year ago period.

    Revenue fell 2.8 percent to Rs 3,912.3 crore versus Rs 4,008.6 crore, QoQ.

  • Aug 10, 11:14 AM (IST)

    Hester Biosciences Q1 earnings: The company has reported 59 percent jump in its Q1 net profit at Rs 9.9 crore against Rs 6.2 crore in a year ago period.

    Revenue was up 33.6 percent at Rs 38.3 crore versus Rs 28.6 crore.

    At 11:08 hrs Hester Biosciences was quoting at Rs 1,315.00, up Rs 25.40, or 1.97 percent on the BSE.

  • Aug 10, 10:24 AM (IST)

    Buzzing stock: Shares of Liberty Shoes rose 5 percent on Friday morning as investors cheered its financial results for the June quarter. 
    The stock touched an intraday high of Rs 216.65 and an intraday low of Rs 207.00.
    The company’s net profit for the June quarter more than doubled to Rs.2.26 crore against Rs.1.07 crore reported for the same quarter of last year. Its net sales stood at Rs 146.34 crore against Rs 129.03 crore in the corresponding quarter of last year.
    The stock has risen around 17 percent in the past one month, while in the past three days, it stood at 1 percent. At 10:22 hrs Liberty Shoes was quoting at Rs 212.05, up Rs 5.00, or 2.41 percent, on the BSE.  

  • Aug 10, 10:06 AM (IST)

    Market Update: After days of rally, the market seems to be in a breather mode on this Friday morning. The Sensex has given up 38,000-mark, while the Nifty is hovering around 11,450. Banking stocks are taking a hit on the back of some profit booking. Apart from that, auto stocks are gaining on the back of a surge in Eicher Motors. Investors bet on the stock after it declared strong Q1 results. Shares of Jet Airways has seen some recovery after a fall of 14 percent. It is now trading 6 percent lower.

    The Sensex is down 84.35 points or 0.22% at 37940.02, and the Nifty down 29.90 points or 0.26% at 11440.80. About 912 shares have advanced, 1014 shares declined, and 108 shares are unchanged.

  • Aug 10, 09:22 AM (IST)

    Market Opens: It’s a flat start to the market on this Friday morning, with the Nifty trading around 11,450 in the opening tick, while the Sensex has breached 38,000.

    At 09:15 hrs IST, the Sensex was up 6.56 points or 0.02% at 38030.93, while the Nifty was down 6.30 points or 0.05% at 11464.40. The market breadth is positive as 394 shares advanced, against a decline of 176 shares, while 55 shares were unchanged.

    Investors are booking profits in banks as well as indulging in fence-sitting ahead of State Bank of India’s results. IT and metal stocks are witnessing some strength, while the midcap index is trading flat with a positive bias.

    Shares of Jet Airways tanked 10 percent after the airline has deferred its results and its audit panel refused approval to its results. 

  • Aug 10, 09:08 AM (IST)

    Rupee opens: The Indian rupee opened lower by 15 paise at 68.83 per dollar on Friday versus previous close 68.68.

    The dollar-rupee August contract on the NSE was at 68.82 in the previous session. August contract open interest increased 4.31% in the previous day, said ICICIdirect.

    We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, it added.

  • Aug 10, 09:04 AM (IST)

    Market at pre-open: Equity benchmark indices have a flat start in the pre-opening trade on the last trading day of the week, with Nifty holding above 11,450 mark.

    At 09:01 hrs IST, the Sensex is up 6.31 points or 0.02% at 38030.68, and the Nifty down 14.70 points or 0.13% at 11456.00.

    Jet Airways, Interglobe Aviation are down 5-10 percent, while Vakrangee, Au Small Finance are trading higher in the pre-opening trade.

  • Aug 10, 08:44 AM (IST)

  • Aug 10, 08:40 AM (IST)

  • Aug 10, 08:36 AM (IST)

    Good morning everyone. Welcome to the live coverage of all the action from D-Street. Stay tuned to this live blog to get real-time updates from the market.

      Good morning everyone. Welcome to the live coverage of all the action from D-Street. Stay tuned to this live blog to get real-time updates from the market.
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