Closing Bell: Nifty ends above 11,100, Sensex gains; IndusInd Bank up 5%, metal stocks shine

Essel Group said Invesco Oppenheimer Developing Markets Fund will buy an additional 11 percent stake inZee Entertainment Enterprisesfrom the company's promoters for Rs 4,224 crore.

Oppenheimer held a 7.74 percent stake in Zee Entertainment as of June 30, 2019.

Technical View: Nifty snaps 2-day losing streak to form bullish candle; 10,999 crucial for upside

Mazhar Mohammad said as Nifty is still trading below its 200-day moving average, traders are advised to refrain from creating long positions until this index consolidates around these levels for couple of days.... Read More

Royal Enfield maker Eicher Motors has reported a steep 21.6 percent year-on-year fall in June quarter consolidated profit at Rs 451.8 crore, dented by subdued volume performance and weak operating income.

Consolidated revenue during the quarter declined 6 percent year-on-year to Rs 2,381.9 crore as Royal Enfield volumes fell by 19 percent YoY due to weak demand and high ownership cost.

Evening Walk Down D-St: Short covering push markets higher; Nifty above 11,100

The S&P BSE Metal index rose 2.4 percent followed by the S&P BSE Auto index which was up 1.2 percent, and the S&P BSE Oil & Gas index rose 1.06 percent.... Read More

Bharti Airtel, Tata Power Company, Marico, Godrej Consumer Products, Elgi Rubber Company, Ginni Filaments, JK Tyre & Industries, Ceat, JSW Holdings, Cera Sanitaryware, International Paper APPM, Ganesha Ecosphere, Prestige Estates Projects, Varun Beverages, KRBL, Adlabs Entertainment, Aavas Financiers, Dynemic Products, 21st Century Management Services, Hindustan Construction Company, Dalmia Bharat, OnMobile Global, Mahindra Logistics, Welspun Enterprises, Orient Paper & Industries, PTC India Financial Services, Hikal, Thangamayil Jewellery, LGB Forge, Magma Fincorp, GlaxoSmithKline Consumer Healthcare, ICRA, AXISCADES Engineering, Raymond

Zee promoter stake sale at advanced stage, identity of investor awaited: Report

Zee Entertainment Enterprises might soon finalise the binding agreement from a financial investor for a partial stake sale, The Economic Times reports.... Read More

"Nifty50 appears to be making attempts to pull back as it registered a bullish candle before signing off the session. Key positive take away from today's price action can be the fact that after a gap down opening at 11,034 levels the said index not only managed to fill that intraday gap but also registered a strong positive close. This kind of price behavior should instill some confidence among bulls and hence sustaining above 10,999 levels in next session some positive price action can be witnessed," Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in told Moneycontrol.

He said as Nifty is still trading below its 200-day moving average, traders are advised to refrain from creating long positions until this index consolidates around these levels for couple of days and shows some signs of strength on momentum oscillators.

As trend is still favoring bears if this index trades below its psychological support of 11,000 level for atleast 30 mintues then it can come under further selling pressure which shall provide intraday trading opportunity on short side for modest gains of around 50-100 points, he added.

The initial public offer of mobile marketing firm Affle India has received overwhelming response from investors on July 31, the last day for subscription.

The Rs 459-crore public issue has received bids for29.04crore equity shares against IPO size of 33.78 lakh shares (excluding anchor investors' book) as per data available on exchanges.

The initial public offer has been oversubscribed 86 times.

"Going forward, we expect that weak domestic sentiments may continue to have a negative bearing on the Indian markets. Further, muted corporate earnings and challenging outlook provided by the corporates is also weighing on the markets. On the global front, Fed meet which will conclude tonight may provide some direction to the markets as there are high expectations for a rate cut,"AjitMishraVice President,Research,ReligareBroking told Moneycontrol.

He recommended investors should stick to stock specific approach taking cues from the earnings and traders should avoid highly leveraged positions.

: Benchmark indices snapped 2 day's losing streak and ended higher on July 31 with Nifty finished above 11,100 level.

At close, the Sensex was up 83.88 points at 37,481.12, while Nifty was up 28.40 points at 11,113.80. About 1134 shares have advanced, 1333 shares declined, and 137 shares are unchanged.

Zee Entertainment, Axis Bank, Bharti Airtel, Titan Company and Bharti Infratel were among major losers on the Nifty, while gainers were IndusInd Bank, Yes Bank, IOC, Hero Motocorp and Tata Steel.

All the sectoral indices ended in the green led by the metal, auto, pharma, IT, infra, FMCG and energy.

Consolidated net profit rose 65 percent at Rs 33 crore versus Rs 20 crore, revenue was up at Rs 292 crore versus Rs 146 crore, YoY.

| Cabinet approves Rs 22,876 crore outlay as nutrient based subsidy for this Financial Year, reported CNBC-TV18.

: Net profit up 24.6 percent at Rs 129.4 crore against Rs 103.8 crore, revenue up at Rs 609.2 crore against Rs 602.5 crore, YoY.