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Jul 10, 2020 03:00 PM IST | Source: Moneycontrol.com

Market LIVE Updates: Sensex, Nifty trade lower drag by financials; RIL, Sun Pharma top gainers

Benchmark indices are trading lower in the volatile session. Buying seen in the IT, pharma and FMCG sectors, while bank, metal and auto remained under pressure.

  • July 10, 2020 04:23 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    Markets continued their volatile movements and ended the day negative, tracking mixed global cues. Global stocks were mixed following record infections in the US, which led to worries of delayed global economic recovery, while Indian markets worried about record cases of infections and increasing localized lockdowns. However, on a weekly basis, the benchmark indices gained around 1.5%. The weekly gains were mainly driven by liquidity and the hope that the virus would be contained soon and businesses back to normal. 

    However, the outlook for the market is volatile as the earnings announcements have begun after a washout quarter for most industries. This uncertainty combined with profit booking happening after the recent rally, means that the volatility is expected to continue in the markets and investors would do well to be cautious and stock specific in this market.

  • July 10, 2020 03:34 PM IST

    Market Close: Benchmark indices ended lower with Nifty below 10800 on July 10 tracking weak global market.

    At close, the Sensex was down 143.36 points or 0.39% at 36594.33, and the Nifty was down 45.50 points or 0.42% at 10768. About 989 shares have advanced, 1646 shares declined, and 159 shares are unchanged.

    IndusInd Bank, Axis Bank, GAIL, Titan Company and HDFC were among major losers on the Nifty, while gainers were Reliance Industries, Sun Pharma, HUL, Britannia Industries and Bharti Airtel.

    Mixed trend witnessed on the sectoral front with pharma, energy and FMCG sectors ended higher, while bank, metal and auto remained under pressure.

  • July 10, 2020 03:27 PM IST

    SBI board meet on July 15: A meeting of the Central Board of the bank is scheduled to be held on July 15 to seek approval for raising of Additional Tier 1 (AT 1) and Tier 2 Capital by way of issuance of Basel III compliant debt instrument in USD and/or INR during FY21.

  • July 10, 2020 03:25 PM IST

    Bank Of Baroda revises MCLR:

     Bank Of Baroda revises MCLR:
  • July 10, 2020 03:22 PM IST

    Sanjeev Zarbade, VP PCG Research, Kotak Securities:

    The BSE-30 Index gained 1.4% in the current week. Market mood remained buoyant, despite continuous increase in Covid-19 cases and high frequency indicators signaling mixed signs of recovery. IndusInd Bank, Bajaj Finance and SBI were among the top gainers while ITC, NTPC and Power Grid were among the major losers in the BSE-30 Index. 

    FPIs sold equities worth USD 261 million over the past five trading sessions while DIIs sold USD 106 million worth of equities in the same period. 

    We are now beginning to see some fatigue coming into the market as reflected by the selling by FPIs and DIIs. Also, the ongoing earnings season will be one of the most weak ones in many years. In view of this, for short term investors, it makes sense to remain cautious.

  • July 10, 2020 03:19 PM IST

    Karnataka Bank Q1 results:

    Karnataka Bank has posted 12 percent YoY jump in its Q1 net profit at Rs 196.4 crore versus Rs 175.4 crore and NII was up 8.2% at Rs 535.1 crore versus Rs 494.6 crore.

    Its gross NPA was at 4.64% versus 4.82% and net NPA was at 3.01% versus 3.08% (QoQ), reported CNBC-TV18.

  • July 10, 2020 03:13 PM IST

    Radhakishan Damani buys stake in Astra Micro:

    Ace investor and the owner of supermarkets chain D-Mart Radhakishan Damani bought 1.03 percent stake in defence sector player Astra Microwave Products in the June quarter of the financial year 2021.

    In a BSE release on July 10, Astra Microwave said Damani bought 8,96,387 shares of the company during the June quarter.

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