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July 27, 2021 / 03:59 PM IST

Closing Bell: Nifty ends below 15,750, Sensex falls 273 pts on weak Asian market cues

Among the sectors, except metal and PSU Bank all other sectors ended lower with Nifty pharma index down over 4 percent. BSE Midcap and smallcap indices also ended in the red.

  • IndexPricesChangeChange%
    Sensex59,015.89-125.27 -0.21%
    Nifty 5017,585.15-44.35 -0.25%
    Nifty Bank37,811.95143.35 +0.38%
    Nifty 50 17,585.15 -44.35 (-0.25%)
    Fri, Sep 17, 2021
    Biggest GainerPricesChangeChange%
    Kotak Mahindra2,007.95101.15 +5.30%
    Biggest LoserPricesChangeChange%
    Tata Steel1,385.90-50.85 -3.54%
    Best SectorPricesChangeChange%
    Nifty Bank37811.95143.35 +0.38%
    Worst SectorPricesChangeChange%
    Nifty PSU Bank2466.60-75.35 -2.96%


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  • July 27, 2021 / 04:21 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    Markets traded volatile for yet another session and lost nearly half a percent. The benchmark opened with an uptick but feeble global cues mainly from Asian counterparts combined with a decline in select index majors pushed the index lower as the day progressed. Consequently, the Nifty index ended lower by 0.5% to settle at 15,746 levels. Most sectors traded in tandem with the benchmark and traded southward wherein disappointing numbers led the pharma index to end with a sharp cut of over 4%. The broader markets too ended in the red where the midcap and smallcap index lost 0.7% and 0.1% respectively.
     
    The tussle is still on over the next directional move in the index and there’s no clear indication yet. Excessive volatility due to prevailing earnings season and upcoming monthly expiry of derivatives contracts are further adding to the participants’ worries. We reiterate our view to restrict leveraged positions and wait for clarity.

  • July 27, 2021 / 03:47 PM IST

    Abhishek Chinchalkar, CMT Charterholder and Head of Education, FYERS:
     
    For the umpteenth time, Nifty has yet again faced strong headwind on approaches near 15900. The benchmark index has given up all of its early session gains to turn red, weighed by profit-booking across sectors, most notably among the pharma stocks. A strong sell-off among Chinese and Hong Kong markets have also added to woes. Meanwhile, metals and PSU banks are the only sectors that are trading noticeably in green at present.
     
    Currently, Nifty remains in a consolidation mode between 15500-15400 on the downside and 15900-16000 on the upside. Until we get a decisive move out of this band, one should avoid building directional trades in the index and instead prefer a stock-specific long/short approach. Having said that, with the Federal Reserve meeting scheduled tomorrow and the monthly F&O expiry on Thursday, it would be advisable to trade on a lighter note, as we could see a pickup in volatility over the next two sessions.

  • July 27, 2021 / 03:43 PM IST

    S Ranganathan, Head of Research at LKP securities

    Stocks gave up gains today as investors were nervous on the selling across Chinese Markets by global funds coupled with the policies of the Chinese Authorities and the likely impact on Indian Markets despite knowing that it is also a positive for India. While we did see profit booking across banks and the pharma pack on account of negative newsflow on few pharma names, certain pockets across the broader market like textile exporters & coffee stocks posted smart gains on the back of rising coffee futures.

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  • July 27, 2021 / 03:37 PM IST

    Rupee Close: 

    Indian rupee ended marginally lower at 74.46 per dollar, amid selling saw in the domestic equity market. It opened marginally higher at 74.36 per dollar against previous close of 74.42 and traded in the range of 74.35-74.54.

  • July 27, 2021 / 03:35 PM IST

    Market Close: Benchmark indices ended lower for the second consecutive session dragged by the weak Asian market cues.

    At close, the Sensex was down 273.51 points or 0.52% at 52578.76, and the Nifty was down 78 points or 0.49% at 15746.50. About 1563 shares have advanced, 1630 shares declined, and 107 shares are unchanged.

    Among the sectors, except metal and PSU Bank all other sectors ended lower with Nifty pharma index down over 4 percent. BSE Midcap and smallcap indices also ended in the red.

    Dr Reddy’s Labs, Cipla, Axis Bank, Adani Ports and Divis Labs were the top Nifty losers. Hindalco Industries, SBI Life Insurance, Tata Steel, Bajaj Finserv and SBI were among the top gainers.

  • July 27, 2021 / 03:27 PM IST

    European Markets Trade Lower:

      European Markets Trade Lower:
  • July 27, 2021 / 03:24 PM IST

    Ashis Biswas, Head of Technical Research at CapitalVia Global Research:

    The market witnessed a correction after a failed attempt to hold the support level around the Nifty 50 Index level of 15800. Market suggests, 15,700 will be an important support level from a short-term perspective. Sustaining above 15,680-15,700 levels, the market expects to bounce back, and trade in the range of 15,680-15,900. Technical indicator suggests, a volatile movement in the market in the range of 15,680-15,900.

  • July 27, 2021 / 03:21 PM IST

    Sanofi India Q2:

    The company has reported 30.8 percent jump in its June quarter net profit at Rs 178.3 crore against Rs 136.3 crore and revenue was up 11.1% at Rs 789.1 crore versus Rs 710.5 crore, YoY.

    Sanofi India was quoting at Rs 7,954.10, down Rs 30.10, or 0.38 percent on the BSE.

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  • July 27, 2021 / 03:17 PM IST

    Yash Gupta Equity Research Associate, Angel Broking:

    Dr. Reddy’s Laboratories reported total revenue from operations at Rs 4919 crores, up by 11% YoY, from Rs 4417 crores in Q1FY21. India generic business has done well for the company, up by 69%, at Rs 1060 crores while API was down by 12% at Rs 754 crores. 

    Gross profit margins were down by 380bps YOY at 52.2% as raw material prices have gone up in the last 2 quarters. Profit before tax for the quarter was down by 16% at Rs 742.5 crores as compared to Rs 878.9 crores in Q1FY21. EBITDA margins have also come down from 26.3% to 20.7% in Q1FY22. Profit after tax for the quarter came in at Rs 570.8 crores in Q1FY22 as compared to Rs 579.3 crores, down by 1%.
     
    We believe that the weaker set of numbers reported by Dr. Reddy’s Laboratories are due to sales degrowth in API business and muted sales growth in USA business. India business and Europe business have reported sales growth of 69% and 12% respectively. Company’s margins are down significantly and were below the market expectation. Company’s gross margin and EBITDA margin are down by 380 bps and 560 bps YOY as Q1FY2021 was high base quarter for the company, but margins were down on QoQ basis as well.

  • July 27, 2021 / 03:15 PM IST

    Axis Bank buys 5.55% stake in financial technology firm IBBIC

    Axis Bank on Tuesday said it has bought 5.55 percent stake in financial technology firm IBBIC.

    The bank has subscribed to 50,000 equity shares of face value of Rs 10 each fully paid up of IBBIC Private Ltd (IBBIC) for a consideration of Rs 10 per equity share constituting 5.55 percent of the issued and paid up capital of IBBIC, Axis Bank said in a regulatory filing.

    Axis Bank was quoting at Rs 731.40, down Rs 24.75, or 3.27 percent on the BSE.

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