Closing Bell: Sensex, Nifty end flat amid volatility; realty gains, FMCG, PSU Banks drag

Indian benchmark indices ended on a flat note in the in highly volatile session on August 12. At close, the Sensex was down 56.99 points or 0.07 percent at 79,648.92, and the Nifty was down 20.50 points or 0.08 percent at 24,347.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

Nifty remained volatile throughout the day before closing flat. The sentiment is sideways to weak, with the index closing below the 21-day EMA. The RSI is in a bearish crossover, indicating weak momentum. The market might continue to be a sell-on-rise as long as it stays below 24,500. On the lower end, support is placed at 24,150.

The markets started the week on a volatile note due to mixed signals but ended largely unchanged. After an initial decline, the Nifty experienced sharp fluctuations in both directions, ultimately settling at the 24,347 level. Sectoral trends were mixed, with realty and metal sectors posting gains, while FMCG and energy sectors ended in the red. Notably, the broader indices outperformed the benchmark, closing slightly in the green.

Nifty struggled to maintain its position above the short-term moving average resistance of the 20-day EMA at 24,400, primarily due to pressure from select heavyweight stocks. This trend may persist until we see a more decisive movement in banking majors. In the meantime, traders should avoid aggressive long positions and stick to a hedged approach. In addition to earnings reports, the focus will be on global markets for further cues.

The Hindenburg allegations now against a key official of the market regulator weighed on the sentiment in early trades, but indices recovered soon to trade higher only to give away all their gains towards the close to end marginally lower on selective profit taking. In case the row heats up further, it could impact sentiment going ahead and profit taking could continue, although global cues would still determine the broader market mood.

Today, the benchmark indices witnessed volatile trading session, the nifty ends 21 points lower while the Sensex was down by 57 points. Among Sectors, Reality index outperformed rallied over 1.35 percent whereas Media index shed nearly 2 percent. Technically, after early morning intraday selloff the market took the support near 24200/79200 and bounce back sharply. However, it failed to close above 24400/79850 resistance zone.

We are of the view that, the current intraday market texture is non-directional hence level based trading would be the ideal strategy for the day traders. For the bulls, 24400/79850 would be immediate breakout zone. Above the same, market could move up to 24500-24550/80100-80400. On the flip side, below 24300/79500 the sentiment could change. Below the same market could retest the level of 24200-24170/79200-79000.

Indian markets started the session on a tepid note followed by a steep recovery. After a rangebound mid-session, a sudden fall in the last session dragged the Index lower to end the session at 24,347 with a loss of 20.50 points.

Realty was the top gainer among the sectors followed by Metal; and on the flip side, Media and PSU Banks were the major laggards. Mid and Smallcaps held their recovery gains and outperformed the Frontline Index.

After testing the higher end of a consolidation, the Index has formed a long legged Diji candlestick pattern. A firm close above the 24,450-24,470 zone is a must to resume its uptrend while the lower side seems to be protected at 24,200.

The Indian market concluded relatively flat, with its initial path being eclipsed by continuation of the Adani-Hindenburg-SEBI saga. However, the market tried to brush away these noises, taking positive cues from global markets. Moreover, the domestic market is anticipating ease in CPI inflation, which is going to be further supported by a good monsoon. Yet, the upside risk remains, given firm oil prices and volatility in food inflation.

Indian rupee ended at record low of 83.97 per dollar on Monday versus Friday's close of 83.95.

Indian benchmark indices ended on a flat note in the in highly volatile session on August 12.

At close, the Sensex was down 56.99 points or 0.07 percent at 79,648.92, and the Nifty was down 20.50 points or 0.08 percent at 24,347.00. About 1760 shares advanced, 1801 shares declined, and 87 shares unchanged.

Hero MotoCorp, Axis Bank, ONGC, Infosys and JSW Steel were among the major gainers on the Nifty, while losers included NTPC, Britannia Industries, Adani Ports, SBI and Dr Reddy's Labs.

BSE Midcap index ended flat, while smallcap index was up 0.5 percent.

Among the sectors, FMCG, power, PSU Bank and media down 0.5-2 percent, while bank, telecom, IT, oil & gas, metal and realty up 0.3-1 perce

#1 Q1 EBITDA was 7 percent below estimates, with weak volume growth & lower EXIM margins

#2 Management retained 18-20 percent YoY FY25 volume growth guidance driven by road to rail shift

#3 Market share rose in EXIM by 50 bps YoY

#4 Have lowered FYY25-27 EPS by 4 percent to factor Q1

#5 Medium-term outlook remains robust as rail share should rise with dedicated freight corridor

Unicommerce eSolutions, a leading e-commerce enablement SaaS platform, is set for a strong market entry. The IPO garnered overwhelming investor interest, with a massive subscription of 168.35 times and a robust grey market premium (GMP) currently at Rs 69 (63.89%).

The company's strong market position, diversified client base, and proven track record of profitable growth position it well for future expansion. However, competitive pressures, negative cash flows, and operational dependencies on third-party service providers pose challenges. Additionally, the IPO's aggressive valuation at a P/E of 84x warrants cautious optimism.

Despite these factors, the company's strong fundamentals, coupled with the overwhelming investor response, indicate a potential for a stellar listing.

#1 Q1 miss; except in-line sales in US, other segments’ sales were below estimate

#2 Assume company’s US sales will pick up gradually

#3 Current price reflects premature hope on US sales growth, in our view

#4 Higher sales from new launches an upside risk

#1 Company is on improving growth trajectory

#2 Q1 ahead of estimates; premium launches picking up well

#3 Margin tailwinds in place; valuation attractive at 35x FY26 P/E

Indian Rupee declined on a positive tone in the US Dollar and a surge in crude oil prices. However, positive domestic markets cushioned the downside.

We expect Rupee to trade with a slight negative bias on strength in the US Dollar and rising global crude oil prices. Selling pressure from foreign investors and geopolitical tensions in the Middle East may further pressurise the Rupee. However, positive global markets may support Rupee at lower levels.

Traders may take cues from India’s CPI and IIP data. Investors may remain cautious ahead of US CPI, retail sales and consumer confidence data from the US this week. USDINR spot price is expected to trade in a range of Rs 83.75 to Rs 84.25.

#1 Revenue up 16.7% at Rs809 cr vs Rs693 cr (YoY)

#2 EBITDA up 61.7% at Rs76 cr vs Rs47 cr (YoY)

#3 Margin at 9.4% vs 6.8% (YoY)

#4 Board OKs for greenfield manufacturing plant in Haryana

#1 Revenue at Rs 1020 crore, down 18% YoY

#2 Total costs Rs 762 crore, down 18% YoY

#3 Finance Costs Rs 6.38 cr, down 15% YoY

#4 Other income Rs 82.01 crore, up 38% YoY

#1 Net profit At Rs601.2 Cr Vs Rs 349.4 Cr (YoY)

#2 Revenue Down 10.2% At Rs2,856 Cr Vs Rs3,178.7 Cr (YoY)

#3 EBITDA Up 57.1% At Rs934 Cr Vs Rs595 Cr (YoY)

#4 Margin At 32.7% Vs 18.7% (YoY)

#1 Revenue Up 4.7% At Rs371 Cr Vs Rs354.4 Cr (YoY)

#2 EBITDA Down 14.3% At Rs22.7 Cr Vs Rs26.5 Cr (YoY)

#3 Margin At 6.1% Vs 7.5% (YoY)

#1 Revenue Up 7.6%At Rs296 Cr Vs Rs275.2 Cr (YoY)

#2 EBITDA At Rs40.1 Cr Vs EBITDA Loss Of Rs4.1 Cr (YoY)

# Margin At 13.5%

#1 Revenue Up 3.8% At Rs708 Cr Vs Rs682 Cr (YoY)

#2 EBITDA Up 26.8% At Rs28 Cr Vs Rs22 Cr (YoY)

#3 Margin At 2% Vs 1.6% (YoY)

#1 Net Profit At Rs19 Cr Vs Rs24 Cr (YoY)

#2 Revenue Down 7.6% At Rs749 Cr Vs Rs811 Cr (YoY)

#3 EBITDA Down 35.6% At Rs38 Cr Vs Rs59 Cr (YoY)

#4 Margin At 5.1% Vs 7.3% (YoY)

#1 Net Profit At Rs9 Cr Vs Rs 22.2 Cr (YoY)

#2 Revenue Up 3.8% At Rs708 Cr Vs Rs682 Cr (YoY)

#3 EBITDA Down 21.6% At Rs57.3 Cr Vs Rs73.1 Cr (YoY)

#4 Margin At 8.1% Vs 10.7% (YoY)

#1 Revenue Rs 1360 cr, up 19% YoY

#2 Active pharmaceutical ingredients sales Rs 39.20 cr, down 48% YoY

#3 Domestic formulations revenue Rs102 cr, down 23% YoY

#4 Crop Science unit sales Rs 15.60 cr, down 65% YoY

#5 Total costs Rs 607 cr, down 8% YoY

#1 Profit jumps 95.7 percent to Rs 137 crore Vs Rs 70 crore, YoY

#2 Revenue grows 31.2 percent to Rs 1,855 crore Vs Rs 1,414 crore, YoY

#1 Profit zooms 70 percent to Rs 291.5 crore Vs Rs 171.6 crore, YoY

#2 Revenue jumps 26.2 percent to Rs 1,514.3 crore Vs Rs 1,200.1 crore, YoY

#1 Profit surges 218.4 percent to Rs 575.2 crore Vs Rs 180.6 crore, YoY

#2 Revenue grows 3.6 percent to Rs 2,167.5 crore Vs Rs 2,091.7 crore, YoY

#1 Rural jobs data to be released on a quarterly basis from September

#2 Release of rural jobs data likely monthly basis from January onwards

#3 Government intends to keep a common base yr for GDP, CPI data

#1 Strong margin expansion of 20.1 percent driven by lower raw material cost

#2 Opex drove a strong Q1 beat despite weak revenue growth

#3 Despite a strong Q1, company’s management retained its EBITDA margin guidance of 18 percent for FY25 citing higher opex in coming quarters

#4 Company’s growth will remain below peers and margin normalisation is some time away

#5 Increase FY25-27 EPS estimate by 1-4 percent

#1 Profit plunges 66.8 percent to Rs 30.99 crore Vs Rs 93.3 crore, YoY

#2 Revenue declines 1.2 percent to Rs 751 crore Vs Rs 760.5 crore, YoY

#1 Q2CY24 EBITDA was 17 percent higher than expectations

#2 Q2CY24 EBITDA beat estimates as 630 bps YoY gross margins expansion offset 11 percent revenue miss

#3 Pricing power and revenue mix drove 360 bps margin expansion

#4 Company saw Rs 200 crore revenue impact from execution deferral to match customer delivery timelines

#5 Should pick up revenue ahead

#6 Order flows rose 13 percent YoY & outlook remains robust

#7 Raise CY24-26 EPS by 4-6 percent

#1 Profit increases 7.6 percent to Rs 89.1 crore Vs Rs 82.8 crore, YoY

#2 Revenue rises 6.1 percent to Rs 500.7 crore Vs Rs 471.8 crore, YoY

The bank has acquired 30 lakh equity shares of Open Network for Digital Commerce (ONDC) for Rs 30 crore. With this, the bank’s current shareholding in ONDC is 5.10%.

#1 Profit tanks 19.7 percent to Rs 37.1 crore Vs Rs 46.2 crore, YoY

#2 Revenue declines 9 percent to Rs 245.9 crore Vs Rs 270.2 crore, YoY

The company has received approval from the Government of India for the infusion of additional equity capital of up to Rs 10,501 crore in ONGC Petro Additions (OPaL), conversion of backstopped Compulsorily Convertible Debentures (CCDs) amounting to Rs 7,778 crore, and balance payment of Rs 86 crore with respect to share warrants, totaling Rs 18,365 crore.

This will change the status of OPaL into a subsidiary of ONGC with a 95.69% equity stake.

#1 Profit rises 5.4 percent to Rs 388 crore Vs Rs 368 crore, YoY

#2 Revenue increases 12.8 percent to Rs 4,863 crore Vs Rs 4,310 crore, YoY

#1 Profit zooms 100.7 percent to Rs 58.02 crore Vs Rs 28.92 crore, YoY

#2 Revenue jumps 44.8 percent to Rs 1,933.1 crore Vs Rs 1,334.5 crore, YoY

#1 Profit declines 5.5 percent to Rs 559.8 crore Vs Rs 592.1 crore, YoY

#2 Revenue falls 2.7 percent to Rs 1,312.4 crore Vs Rs 1,349.2 crore, YoY

#3 Board declares interim dividend of Rs 5 per share

#1 Q1 sales below; EBITDA ahead of estimates

#2 Company retained its EBITDA margin guidance of 18 percent in FY25

#3 Company expects higher investments in new initiatives, specifically biologics

#4 Biologics likely to elevate operating expenses in near term

#5 Stock is currently trading at 31.1x/ 25.4x FY25/26 EPS of Rs 182.6/Rs 224.2

The IDBI Trusteeship Services has admitted Coffee Day Enterprises into the National Company Law Tribunal (NCLT) for the initiation of Corporate Insolvency Resolution Process (CIRP) for Rs 228.45 crore. The company is planning to take the required legal action in this regard.

#1 Q1 EBITDA beat estimates by 7 percent

#2 Domestic business including acquired Ophthal Portfolio grew 22 percent YoY (13 percent organic growth)

#3 Domestic business was better than expected

#5 Management expects domestic business to grow high-teens in FY25

#6 CDMO growth to accelerate from H2FY25

#7 An improved EBITDA margin towards the upper end of 26-28 percent

The United States Food and Drug Administration (US FDA) conducted an unannounced inspection of Caplin Steriles’ injectable and ophthalmic manufacturing facility at Gummidipoondi. The inspection was conducted between August 5 and August 9 and concluded with zero observations.

#1 Q1 EBITDA ahead of estimates

#2 Weak global demand to delay expected recovery with current valuations pricing this in

#3 Management says demand outlook remains tepid for rest of year due to macro challenges

#4 Company expects minor volume growth in FY25

#1 Profit surges 47.3 percent to Rs 489 crore Vs Rs 331.9 crore, YoY

#2 Revenue grows 25.7 percent to Rs 2,714.5 crore Vs Rs 2,159.4 crore, YoY

#3 Board announces interim dividend of Rs 4 per share

#1 Guided for 15-16 percent margin for FY25, see upside risk to margin guidance

#2 See a significant upside to FY26 guidance

#3 Face no logistical constraints, on track to complete our projects

#4 Have a supplier execution guidance of 800 MW in FY25

#5 Will likely execute 2.9 GW of order book in 2 years

#6 Have set up a large cell manufacturing facility in Gujarat

#7 Looking at acquisition opportunities in the O&M space

#8 We are a net cash entity, Q2 onwards net finance costs will be negligible

#1 Profit zooms 31.8 percent to Rs 37.9 crore Vs Rs 28.8 crore, YoY

#2 Revenue grows 13 percent to Rs 313.4 crore Vs Rs 277.1 crore, YoY

Vodafone Idea, Voltas, Bajaj Hindusthan Sugar, Balrampur Chini Mills, Campus Activewear, Dhanlaxmi Bank, DOMS Industries, Happiest Minds Technologies, Hindustan Copper, Housing & Urban Development Corporation, Indian Railway Finance Corporation, Natco Pharma, National Aluminium Company, NMDC, Olectra Greentech, Senco Gold, SJVN, Sunteck Realty, and Voltas will release their quarterly earnings on August 12.

#1 Net loss widens to Rs 111.7 crore Vs loss of Rs 91.7 crore, YoY

#2 Revenue grows 20 percent to Rs 173.8 crore Vs Rs 145 crore, YoY

#1 Profit zooms 41.6 percent to Rs 1,036.4 crore Vs Rs 731.8 crore, YoY

#2 Gross premium written increases 39.1 percent to Rs 12,405.7 crore Vs Rs 8,917.7 crore, YoY

#3 Net premium written jumps 40.2 percent to Rs 11,538.5 crore Vs Rs 8,231.2 crore, YoY

#4 Net premium earned grows 16.6 percent to Rs 10,063.6 crore Vs Rs 8,632.6 crore, YoY

#5 Net commission rises 19.3 percent to Rs 2,196.8 crore Vs Rs 1,840.9 crore, YoY

#1 Profit grows 19 percent to Rs 35 crore Vs Rs 29.4 crore, YoY

#2 Revenue increases 4.9 percent to Rs 154.5 crore Vs Rs 147.3 crore, YoY