A dealer is reflected on a monitor displaying a graph of the movement of the yen against the U.S. dollar. (Photographer: Yuriko Nakao/Bloomberg)

Sensex, Nifty Post Worst Start To Second Half Since 2010

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Closing Bell

Indian equity benchmarks resumed decline in worst start to second half since 2010 on the back of weak global cues and falling rupee.

The S&P BSE Sensex fell 0.45 percent or 159 points to 35,264 and the NSE Nifty 50 index declined 0.53 percent or 57 points to 10,657.

Sixteen out of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Telecom index's 2.6 percent drop. On the other hand, the S&P BSE Information Technology index was the top gainer, up 0.88 percent.

The mid- and small-cap shares underperformed their larger peers as the respective indexes fell over 0.7 percent each.

Fab Four Stocks Of The Day

  • RITES: The Gurugram-based railway engineering service provider rose as much as 17.8 percent on its stock market debut. RITES' Rs 460 crore IPO was subscribed 67 times.
  • Cheviot: The Kolkata-based jute goods maker rose as much as 13 percent, the most in over six months, to Rs 1,387 after it announced that its board will meet on July 10 to consider issue of bonus shares.
  • IDBI Bank: The Mumbai-based government-owned lender gained as much as 5.65 percent after IRDAI approved LIC’s investment plan. LIC will increase its stake in IDBI Bank up to 51 percent.
  • Motilal Oswal Financial Services: The Mumbai-based stock brokerage firm rose 6.3 percent to Rs 825. Trading volume was 4.5 times its 20-day average.

TVS Motor Company Advances After June Sales Numbers

Shares of the Chennai-based two-wheeler maker rose 1.75 percent to Rs 562 after it reported sales numbers for the month of June.

Key highlights:

  • Two-wheeler sales up 12.1 percent at 3,01,201 units versus 2,68,638 units (YoY)
  • Exports up 48.6 percent to 65,971 units versus 44,389 units (YoY)
  • Three-wheeler sales up 140.9 percent at 12,413 units versus 5,153 units (YoY)

GE T&D, Honeywell Automation Among Stocks Moving On Heavy Volumes

  • GE T&D: The Noida-based power transmission and distribution equipment maker fell 3 percent to Rs 281.10. Trading volume was 7.7 times its 20-day average.
  • Honeywell Automation: The Pune-based industrial automation products maker rose 0.8 percent to Rs 18,350. Trading volume was 8.5 times its 20-day average.
  • Container Corp: The government-owned logistics service provider fell 3 percent to Rs 633. Trading volume was 3.4 times its 20-day average.
  • Motilal Oswal Financial Services: The Mumbai-based stock brokerage firm rose 6.3 percent to Rs 825. Trading volume was 4.5 times its 20-day average.

Stocks Slide on Trade Risk; Euro Falls With Pound

European stocks and U.S. equity futures tracked a slide in Asian shares at the start of a crunch week for global trade. Political risks dragged the euro and pound down, and dollar strength roiled emerging assets.

Sensex, Nifty Post Worst Start To Second Half Since 2010