BSE Sensex closed 6.78 points down at 36,541.63, while the Nifty 50 ended 4.30 points lower at 11,018.90. Here are the highlights from the markets
Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty 50 closed marginally lower on Friday dragged by banking and FMCG stocks, offsetting gains in market heavyweight Infosys and Reliance Industries. In June quarter earnings, IT major Infosys will report its Q1 results today after market hours. The Indian rupee strengthened against the US dollar, tracking the gains in Asian currencies. In global markets, European stocks pared gains and US index futures turned lower as investors shifted their focus to earnings in the absence of new developments on the trade front. Here are the highlights from the markets:
13 Jul 2018, 03:35:00 PM IST
Closing bell: Sensex, Nifty ended flat
BSE Sensex inched down 6.78 points, or 0.02%, to 36,541.63, while the Nifty 50 edged down 4.30 points, or 0.04%, to close at 11,018.90. In intraday trade, Sensex hit a fresh record high of 36,740.07 points. Nifty 50 touched a peak of 11,071.35, which is 100 points shy of its all time high.For the week, the Sensex was up 2.5%, while the Nifty gained 2.3%.BSE MidCap and SmallCap declined 0.77% and 1.36%, respectively. Fifteen out of 19 sectoral indices on BSE fell with telecom, basic materials, realty and industrials losing up to 1.98%. Energy, IT, oil and gas, and consumer durables advanced.Reliance Industries, BPCL, Bajaj Auto and Infosys were among major gainers, whereas ONGC, Axis Bank, ITC and Zee Entertainment were among the major losers.
13 Jul 2018, 03:20:00 PM IST
PVR, INOX shares fall as Maharashtra allows people to carry food inside cinema halls
Shares of cinema theatre operators PVR Ltd and INOX Leisure Ltd slumped as much as 12.9% and 14.1%, respectively, after media reports that Maharashtra state government said people will to be allowed to carry food items along with them in cinema halls and in multiplexes.PVR shares posted biggest intraday pct fall since September 2016, hit their lowest since 28 March. INOX shares fell to their lowest since September 2017, post biggest intraday percent drop since December 2014.PVR did not immediately respond to Reuters’ request for comments, while INOX was not immediately reachable for comments. Reuters
13 Jul 2018, 03:13:00 PM IST
Won’t be surprised if Indian markets correct 20%, says Marc Faber
Trade war is not a positive for the global economy or the financial markets, says Marc Faber, editor and publisher of The Gloom, Boom & Doom Report
Sika Interplant Systems shares nearly 10% on new order
Sika Interplant Systems Ltd shares jumped 9.73% to Rs 146.10 after the company said it has secured new orders for advanced engineering products and services in the recent past. With these contracts, the company said its order backlog has gone up to Rs 102 crore.
13 Jul 2018, 02:30:00 PM IST
Rupee strengthens against US dollar
The Indian rupee strengthened against the US dollar on Friday, tracking the gains in local equities and Asian currencies. At 2pm, the rupee was trading at 68.49 a dollar, up 0.11% from its Thursday’s close of 68.57. It opened at 68.38 a dollar and touched a high and a low of 68.32 and 68.52, respectively.The 10-year bond yield was trading at 7.77% compared to its previous close of 7.78%. Bond yields and prices move in opposite directions. So far this year, rupee lost 6.76%, while foreign institutional investors have sold $716.57 million in equity and $8.62 billion in debt.
13 Jul 2018, 01:57:00 PM IST
Why Fortis Healthcare’s minority shareholders deserve a hostile bid
With promoters owning only a 0.77% stake in Fortis, minority shareholders will decide the fate of any bid. What questions should they ponder over before making a decision?
Europe’s main stock markets extended a recovery at the open on Friday, with London’s benchmark FTSE 100 index rising 0.6% to 7,693.58 points compared with the close on Thursday. In the eurozone, Frankfurt’s DAX 30 index climbed 0.5% to 12,549.23 points and the Paris CAC 40 grew 0.4% to 5,428.04. World stock markets have recovered over the past two days after a mid-week slump when Washington threatened to hammer Beijing with tariffs on a further $200 billion of Chinese imports, ratcheting up the global trade war. AFP
13 Jul 2018, 12:55:00 PM IST
IDBI shares dive 7% as bank officers threaten strike
Shares of IDBI Bank Ltd lost as much as 7.19% to Rs 52.25 after a section of IDBI Bank officers has threatened to go on a six-day strike from Monday in protest against the proposed acquisition of the state-owned lender by insurance behemoth LIC and wage related issues, among others.
13 Jul 2018, 12:12:00 PM IST
Rupee hits over 2-week high
Indian rupee hit 68.3150 per dollar in early trade, strongest since 26 June. The rupee was trading at 68.43 per dollar, compared with Thursday’s close of 68.55. Traders say stronger Asian peers and gains in local equities helped boost sentiment. Moreover, retail inflation touched a five-month high in June but still well below analysts’ expectations. The rupee is seen in a range of 68.30 to 68.55 per dollar on Friday. So far this year, the rupee lost 6.85%, while foreign institutional investors have sold $716.57 million in equity and $8.62 billion in debt, respectively. Reuters
13 Jul 2018, 11:57:00 AM IST
R. S. Software India shares jump 20% on new contract
R. S. Software India Ltd shares jumped 19.90% to Rs46.10 after the company disclosed that it was declared L1 bidder in reverse online auction by National Payments Corp. of India to develop and operate platform for EFRM.
13 Jul 2018, 11:40:00 AM IST
Market update: Sensex, Nifty trade higher
BSE Sensex traded higher by 81.81 points, or 0.22%, to 36,630.22, while the Nifty 50 edged up 4.40 points, or 0.04%, to 11,027.60. However, BSE MidCap and SmallCap declined 0.73% and 1.09%, respectively.Sixteen out of 19 sectoral indices traded in negative territory with realty, telecom and basic materials losing over 1% followed by power, utilities and industrials. IT, energy and teck rose 1.12%, 0.815 and 0.75%, respectively.Infosys, Reliance Industries, Coal India and Kotak Bank were among the top majors, whereas Axis Bank, ONGC, SBI and ICICI Bank were among the major losers.
13 Jul 2018, 11:30:00 AM IST
Karnataka Bank shares fell 5% after Q1 results
Karnataka Bank Ltd shares lost as much as 5.47% to Rs 117.45 per share after in terms of asset quality, gross non-performing assets (NPAs) or bad loans rose to 4.72% of gross loans as on 30 June 2018 from 4.34% in the year-ago period.
13 Jul 2018, 11:10:00 AM IST
Who’s winning, who’s losing in the trade war?
Retaliatory tariff moves by both the US and China have dampened overall stock market sentiment globally. Asian markets such as South Korea, Hong Kong and Taiwan have felt the repercussions too. China is the biggest loser, because it seems to be US President Donald Trump’s main target. Read more
13 Jul 2018, 10:40:00 AM IST
Vakrangee shares up 4% over tie up with Reliance Nippon AMC
Shares of Vakrangee Ltd gained as much as 3.91% to Rs 54.50 as it has entered an alliance with Reliance Nippon Life Asset Management, which shall offer distribution of mutual fund products to the citizens on PAN India basis.
13 Jul 2018, 10:15:00 AM IST
Cyient shares dive 4% as Q1 net profit fall
Cyient Ltd shares lost as much as 4.46% to Rs 708.90 after the IT firm’s Q1 net profit dropped 6% to Rs 82 crore. Revenues from operations rose 19% to Rs 1,080 crore during the quarter.
13 Jul 2018, 10:00:00 AM IST
Fortis shares jump 4% on IHH Healthcare deal
Fortis Healthcare Ltd shares gained as much as 4.05% to Rs 147.90 per share as the hospital chain board approves IHH Healthcare offer at Rs170 per share. IHH will invest Rs 4,000 crore at Rs 170 per share in the company that operates about 30 private hospitals in India, where the race to cash in on a private healthcare boom is heating up. The offer is at a 19.5% premium to Fortis’ closing price on Thursday.
13 Jul 2018, 09:52:00 AM IST
HCL Tech shares dive over 2% after share buyback announcement
Shares of HCL Technologies Ltd fell 2.30% to Rs 982.15. The board of HCL Tech on Thursday approved a share buyback plan worth Rs 4,000 crore, the firm said in a stock exchange filing. The company will buy back the shares at ₹1,100 per share. The buyback is at a premium of 9.4% to the closing price of the stock on Thursday. Public shareholders hold a 39.83% stake in the company, with retail investors holding around 2.45% stake.
13 Jul 2018, 09:40:00 AM IST
Infosys Q1 results today: Five things to watch out for
Infosys Ltd shares rose nearly 2% to Rs 1,319.45 ahead of the company’s June 2018 quarter earnings today. Infosys is expected to report rupee revenue of Rs 18,996 crore in the June quarter, up 5.1% quarter-on-quarter or 11.2% year-on-year, according to estimates of HDFC Securities.
BSE Sensex traded higher by 98.25 points, or 0.27%, to 36,646.66, while the Nifty 50 rose 28.10 points, or 0.25%, to 11,051.30.
13 Jul 2018, 09:17:00 AM IST
Rupee gains against US dollar
The Indian rupee strengthened against the US dollar, tracking the gains in Asian currencies. At 09.08 am, the home currency was trading at 68.39 a dollar, up 0.27% from its Thursday’s close of 68.57. It opened at 68.38 a dollar and touched a high and a low of 68.34 and 68.41 respectively. The 10-year bond yield was trading at 7.79% compared to its previous close of 7.78%. Bond yields and prices move in opposite directions. So far this year, rupee lost 6.85%, while foreign institutional investors have sold $716.57 million in equity and $8.62 billion in debt respectively.
13 Jul 2018, 09:03:00 AM IST
Sensex records another high, but leaves most investors feeling low
India’s benchmark Sensex rose to a record high on Thursday, but only a few investors have reasons to be happy. A handful of stocks, including Tata Consultancy Services Ltd (TCS) and Reliance Industries Ltd (RIL), have powered the gains in the benchmark stock indexes. The BSE mid-cap index, in contrast, has dropped 12.74% year to date and the small-cap index has declined a steeper 14.62%. Read more
13 Jul 2018, 08:53:00 AM IST
Opening bell: Cues to look out for before trading today
■ Asian markets opened higher tracking the recovery in the US stocks. Overnight US stocks closed higher on buying in shares of technology and industrial companies.■ India’s factory output growth slowed to a seven-month low in May, while retail inflation quickened to a five-month high in June, signalling a worsening macro-economic environment.■ Fortis Healthcare Ltd said on Friday it accepted an investment offer from Malaysia’s IHH Healthcare Bhd, capping a months-long bidding war for control of the firm that drew interest from domestic and international suitors. ■ The board of IT services firm HCL Technologies Ltd approved a share buyback plan worth Rs4,000 crore. The buyback is at a premium of 9.4% to the closing price of the stock on Thursday.■ The National Company Law Tribunal (NCLT) has approved a scheme to demerge surplus land of nearly 773 acres from Tata Communications Ltd, a step towards settling a 16-year old matter, reports The Economic Times.■ Infosys Ltd will announce its June quarter earnings on Friday after market hours. Here are the Street expectations.■ Avendus Capital, controlled by US private equity giant KKR, emerged as the surprise frontrunner to acquire the mutual fund business of IDFC, reports The Economic Times.■ Drug major Cipla’s subsidiary has signed an agreement to acquire South Africa’s Mirren (Pty) Ltd for around Rs 228 crore. Mirren, which specialises in over-the-counter pharmaceutical products, will strengthen Cipla’s market position.(R. Sree Ram/Mint)