Taking Stock: Market Ends Marginally Lower Amid Volatility; IT, Metals Gain
Among sectors, the Nifty energy index shed a percent, while bank, auto and PSU bank indices ended lower. Some buying was seen in metal, pharma, and IT names... Read More
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 81,773.66 | -153.09 | -0.19% |
| Nifty 50 | 25,046.15 | -62.15 | -0.25% |
| Nifty Bank | 56,018.25 | -221.10 | -0.39% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Titan Company | 3,565.60 | 147.40 | +4.31% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Tata Motors | 681.55 | -16.50 | -2.36% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty IT | 35232.20 | 522.75 | +1.51% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Auto | 26522.40 | -411.15 | -1.53% |
Indian markets started marginally in red following negative Asian market cues as China tech and education shares plunge and Singapore’s manufacturing output decline 3% in June on a seasonally adjusted, month-on-month basis. During the afternoon session markets swung between positive and negative territory with lacklustre trade as traders were concerned as foreign portfolio investors (FPIs) offloaded Indian equities to the tune of over Rs 5,689 crore in July so far as they continued to adopt a cautious stance in view of various domestic and global factors.
Also the European stocks were seen retreating as investors watch corporate earnings, Covid cases and German business sentiment which fell unexpectedly in July as supply chain constraints and rising Covid-19 infections dampened recent optimism.
Indian rupee ended flat at 74.42 per dollar, amid volatile trade saw in the domestic equity market.
It opened marginally lower at 74.46 per dollar against Friday's close of 74.40 and traded in the range of 74.40-74.52.
The market witnessed some lackluster movement and an attempt to hold the support level around the Nifty 50 Index level of 15800. The expected levels of the market are likely to be in the range of 15800 and 15950, and it is going to be crucial for the short-term market scenario to sustain above the 15800 Nifty50 Index level. Technical indicator suggests, a volatile movement in the market in a small range.
Benchmark indices ended lower in the volatile trade on July 26 with Nifty below 15,850.
At close, the Sensex was down 123.53 points or 0.23% at 52852.27, and the Nifty was down 31.50 points or 0.20% at 15824.50. About 1791 shares have advanced, 1488 shares declined, and 151 shares are unchanged.
JSW Steel, Wipro, Reliance Industries, SBI and M&M were the top Nifty losers. SBI Life Insurance, Bajaj Finserv, Hindalco, Divis Labs and UltraTech Cement were among the top gainers.
Among sectors, Nifty energy index shed 1 percent while bank, auto and PSU Bank indices ended lower. However, some buying was seen on the metal, pharma, and IT names. BSE midcap index ended flat, while smallcap index ended 0.3 percent lower.
The company's consolidated net profit was down 45.3% at Rs 161.9 crore against Rs 295.7 crore and revenue was down 1.1% at Rs 1,326 crore against Rs 1,341 crore, YoY.
Alembic Pharmaceuticals was quoting at Rs 909, down Rs 37.65, or 3.98 percent on the BSE.
Indian Metals & Ferro Alloys share price jumped over 5 percent, hitting new 52-week high on BSE after the company reported robust June quarter earnings.
The company on July 24 posted a four-fold jump in its consolidated profit after tax (PAT) to Rs 99.09 crore during the June quarter, mainly on account of higher income.
The company had posted Rs 24.82-crore PAT during the April-June period of financial year 2020-21, IMFA said in a regulatory filing.
After a steller debut, the shares of Zomato extended the gains and trading higher by 10 percent on the second day post listing.
On the listing day, the market capitalisation of Zomato went beyond the Rs 1 lakh crore mark.
The Rs 9,375-crore initial public offering, which opened for subsciption during July 14-16, had seen a stellar response from investors with 38.25 times subscription - highest in last 13 years among IPOs valued more than Rs 5,000 crore each.
Glenmark Life Sciences is the leading manufacturer of Active Pharmaceutical Ingredients (APIs). It is promoted by Glenmark Pharmaceuticals. Glenmark Life Sciences is a leading manufacturer of selected specialized APIs for chronic therapeutic areas like CVS, CNS, diabetes, and pain management.
It exports products in Europe, Latin America, North America, Japan, and the rest of the world. It has a strong relationship with leading global generic companies.
With a proven track record of strong financial performance and high-quality product manufacturing with R&D infrastructure. It can be a good bet for longer-term as well as the short term also. Expected listing gains to the tune of 15-25% is quite possible.
Oil prices fell $1 on Monday as concerns about fuel demand caused by the spread of COVID-19 variants as well as changes to import rules in China offset expectations of tight supplies through the rest of the year.
Benchmark indices were trading with marginal loss in the final hour of the trading.
The Sensex was down 76.92 points or 0.15% at 52898.88, and the Nifty was down 15.90 points or 0.10% at 15840.10. About 1671 shares have advanced, 1412 shares declined, and 130 shares are unchanged.
