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Jul 12, 2019 03:41 PM IST | Source:

Closing Bell: Sensex ends lower, Nifty fails to hold 11,600; Midcap index outperforms

The sectoral trend was mixed with Metal, Pharma, PSU Bank and Realty rising 0.2-0.8 percent.

  • Jul 12, 03:38 PM (IST)

    Market Closing

    Benchmark indices reversed some previous day's gains on July 12 as traders turned cautious ahead of Infosys' earnings and economic data due later today.

    The BSE Sensex was down 86.88 points at 38,736.23 and the Nifty50 fell 35.20 points to 11,547.70.

    The broader markets outperformed frontliners with the Nifty Midcap and Smallcap indices rising 0.46 percent and 0.33 percent respectively.

      Market Closing  

 Benchmark indices reversed some previous day's gains on July 12 as traders turned cautious ahead of Infosys' earnings and economic data due later today. 

 The BSE Sensex was down 86.88 points at 38,736.23 and the Nifty50 fell 35.20 points to 11,547.70. 

 The broader markets outperformed frontliners with the Nifty Midcap and Smallcap indices rising 0.46 percent and 0.33 percent respectively.
  • Jul 12, 03:26 PM (IST)

    Market Update:

    Benchmark Indices slipped past day's high and were trading in the red.

    Sensex was down 68.13 points or 0.18 percent at 38,754.98, and the Nifty was down 23.90 points or 0.21 percent at 11,559.00. About 1104 shares have advanced, 1230 shares have declined, and 121 shares are unchanged.

    Vedanta, Asian Paints, Sun Pharma are among the top earners, while ONGC, Coal India and Wipro were the biggest losers.

    On the sectoral front, all but four sectors were trading in the green. Pvt bank stocks were the biggest losers, down 0.37 percent on the Nifty. Metal stocks were the biggest winners, up 0.70 percent

  • Jul 12, 02:57 PM (IST)

  • Jul 12, 02:50 PM (IST)

    IndusInd Bank Falls 2%

      IndusInd Bank Falls 2%
  • Jul 12, 02:48 PM (IST)

    Market Update:

    Benchmark indices came off their day's high in last hour of trade. The BSE Sensex was up 18.59 points at 38,841.70 and the Nifty50 rose 0.90 points to 11,583.80.

  • Jul 12, 02:35 PM (IST)

    Dr Reddy's Labs Gets 5 Observations for Bollaram unit

    The pharma company said the audit of its API manufacturing plant 2 at Bollaram, Hyderabad by the US FDA, has been completed.

    The US health regulator issued a Form 483 with 5 observations. "We will address them comprehensively within the stipulated timeline," it said.

  • Jul 12, 02:33 PM (IST)

    IndusInd Bank Earnings

    Private sector lender IndusInd Bank reported a healthy growth in June quarter earnings after merger of Bharat Financial Inclusion with itself. Hence numbers are not comparable YoY.

    Net profit of combined entity stood at Rs 1,432.5 crore for the quarter ended June 2019, rising 38.3 percent compared to Rs 1,036 crore in same period last year.

    Net interest income, the difference between interest earned and interest expended, grew by 34 percent to Rs 2,844 crore year-on-year.

    Asset quality slightly weakened on sequential basis.

  • Jul 12, 02:33 PM (IST)

    SBI waives RTGS, NEFT charges for internet, mobile transactions effective August 1.

  • Jul 12, 02:15 PM (IST)
  • Jul 12, 02:14 PM (IST)

    Manpasand Beverages locked at lower circuit
    Manpasand Beverages shares were locked at 5 percent lower circuit at Rs 35.15 after promoter has pledged his entire stake.

    Promoter Dhirendra Singh, on July 4, created a pledge on its entire shareholding of 44.32 percent with Finquest Financial Solutions Pvt Ltd.

    He pledged shares to arrange working capital for the company.

  • Jul 12, 02:04 PM (IST)

    Just In

    Reliance Power Signs ICA With Lenders

    Reliance Power said its six lenders have signed the lnter-Creditor Agreement (ICA) on July 6, 2019.

    As per the RBI Circular, 100 percent of its lenders have signed the ICA for the resolution of Reliance Power’s debt.

    "Reliance Power has now achieved standstill for 180 days as per the ICA. According to the RBI Circular, the Resolution Plan of company is to be implemented within 180 days. All 6 Lenders of Reliance Power’s subsidiary Vidarbha Industries Power Limited (VIPL), 600 MW Butibori Power Project near Nagpur in Maharashtra, have also signed ICA giving VIPL a 180—day timeframe to implement a resolution plan," company said.

  • Jul 12, 01:57 PM (IST)

    Infosys To Anounce Earnings Later Today

    Infosys, which is scheduled to announce its June quarter earnings on July 12, is likely to deliver steady revenue growth. After a muted show by Tata Consultancy Services, market participants will be watchful.

  • Jul 12, 01:49 PM (IST)

    Oil Demand Growth Estimates

    International Energy Agency has maintained 2019 oil demand growth estimate at 1.2 mbpd and 1.4 mbpd for 2020, reports CNBC-TV18.

  • Jul 12, 01:44 PM (IST)

    Fund Raising

    Shriram Transport Finance Company will raise up to $250 million from global markets to augment its on-lending programme.

    The bond issuance committee of the company on Thursday approved the issuance of $250 million (over Rs 1,700 crore) senior secured notes under its $2000 million global medium term note programme, Shriram Transport Finance Company (STFC) said in a regulatory filing.

    The company will use the proceeds for onward lending and other activities as may be permitted by the ECB directions, it said. Source: PTI

  • Jul 12, 01:35 PM (IST)

    GNA Axles Rallies 7%

    Company reported a healthy 30 percent year-on-year growth in June quarter profit at Rs 18.2 crore against Rs 14 crore in same period last year.

    Revenue from operations grew by 21.4 percent to Rs 258.2 crore from Rs 212.6 crore YoY.

  • Jul 12, 01:33 PM (IST)

    TVS Motor Company launched India's first Ethanol based motorcycle - TVS Apache RTR 200 Fi E100.

  • Jul 12, 01:31 PM (IST)
  • Jul 12, 01:26 PM (IST)

    FY20 Divestment

    Divestment Secretary Atanu Chakraborty said government expects significant divestment through ETF route in FY20 and planned strategic divestment of 14 companies at various stages.

  • Jul 12, 01:22 PM (IST)

    Market Update:

    Benchmark indices gained strength in afternoon with the Sensex rising 120.32 points to 38,943.43 and the Nifty50 climbing 36.80 points to 11,619.70.

  • Jul 12, 01:18 PM (IST)

    ITC Chairman Speaks At AGM

    Diversified conglomerate ITC will foray into new categories and sub-segments in FMCG vertical which will be supported by multi-dimensional investments and strategic opportunities for acquisitions, its Chairman Sanjiv Puri said.

    Addressing the company's shareholders at its annual general meeting, Puri said the company is seeking to be an engine of growth for Indian economy through a vibrant portfolio of future-ready businesses.

    "Today, around 25 percent of ITC's segment revenue is from newer FMCG businesses...To accelerate growth in the FMCG businesses, the endeavour is not only to fortify the existing categories towards delivering industry leading performance but also to foray into newer categories and sub-segments," he said. Source: PTI

  • Jul 12, 01:06 PM (IST)

    Bond Yield At lowest Level Since August 2017

    7.26% 2029 government bond yield fell 0.20 percent to 6.48, the lowest level since August 2017.

  • Jul 12, 01:02 PM (IST)

    Expert on KPR Mill Buyback Withdrawal

    KPR Mill due to new tax proposal in Finance Bill announced withdrawal of buyback of 37 lakh shares announced in June.

    JN Gupta, Former ED at SEBI told CNBC-TV18 that KPR Mill will have to approach capital market regulator for an exemption.

    "Once letter of offer is filed & public announcement made, buyback can't be withdrawn. Company can’t withdraw buyback once record date has passed," he said.

  • Jul 12, 12:56 PM (IST)

    Bodal Chemicals Gains 1%

    Company alloted 1.5 crore share warrants at Rs 115 each convertible into equity at Rs 113 each, to promoters and non-promoters on preferential basis.

  • Jul 12, 12:51 PM (IST)

    Nabard To Raise Rs 55,000 Crore From Market In FY20

    Nabard said it plans to raise about Rs 55,000 crore from the market in the current fiscal to fund its business growth and also support various agricultural and rural development schemes of the government.

    "The borrowing from the market will be similar to last financial year. We intend to raise about Rs 55,000 crore through the public platform from the domestic market in 2019-20," Nabard chairman Harsh Kumar Bhanwala said here.

    National Bank for Agriculture and Rural Development (Nabard) has already raised Rs 12,000 crore from the market in the first quarter of the current financial year, he said. Source: PTI

  • Jul 12, 12:49 PM (IST)

    Just In

    Manappuram Finance said promoter released a pledge on 45 lakh shares (representing 0.5 percent of equity) on June 20.

  • Jul 12, 12:46 PM (IST)

    Jain Irrigation said promoter released a pledge on 4.5 lakh shares on July 11.

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