Sensex, Nifty End Lower; Nifty Bank Falls 800 Points

Indian equity markets began the first day of the July series expiry week on a negative note, ending with losses after trading in a range for most of the day.The S&P BSE Sensex ended 0.5% lower at 37,934 while the NSE Nifty 50 index ended 0.6% lower at 11,128.Among the sectoral indices, the Nifty Bank index was the top laggard in today's trade - ending 3.6% or over 800 points lower. All major private lenders - ICICI Bank (down 6%), HDFC Bank (down 3.5%), Axis Bank (down 3%) and IndusInd Bank (down 3%) contributed to the losses.The PSU Banking index too ended with losses of 3.1%.Other sectoral indices that declined included the Nifty Pharma and Nifty Realty, both of which fell 1.7%.Broader markets underperformed in today's trade. The Nifty midcap index ended 1.3% lower while the smallcap index ended 0.6% lower.I.T. outperformed in today's session as well with the Nifty I.T. index ending with gains of 2%.The India Volatility Index snapped a two-day losing streak - ending 2% higher at 25.Market breadth ended in favour of the laggards. 1,310 stocks on the NSE posted losses while 538 stocks advanced..Revenue down 42% to Rs 405.8 croreNet profit down 93% to Rs 1.2 croreEbitda down 87% to Rs 9.1 croreEbitda margin at 2.2% from 10.2%Electronics segment revenue down 51% to Rs 137.7 croreElectricals segment revenue down 31% to Rs 182.6 croreConsumer durables revenue down 44% to Rs 85.5 croreGross margins at 29.2% from 32.6%May-June has shown some recovery from nationwide lockdown.Localised lockdowns may cause market closures in different parts of the country from time to time.Expect the effects of the pandemic to last for a few more months.Demand for consumer discretionary items likely to be subdued..Shares are off the day's low, down 1.1% to Rs 166.9, post the announcement..Revenue down 25.4% to Rs 1,061.6 croreNet profit up 5.4% to Rs 92.2 croreEbitda down 16.1% to Rs 119.5 croreEbitda margin at 11.3% from 10%Agri Machinery Products revenue down 13% to Rs 953.5 croreConstruction equipment revenue down 75% to Rs 52.5 croreRailway equipment revenue down 53% to Rs 55 crore.Shares fell as much as 3.2% to Rs 1,092.3 crore, post the announcement..Revenue down 11.1% to Rs 1,925 croreNet profit up 23.7% to Rs 381 croreEbitda up 1.43% at Rs 467 croreEbitda margin at 24.3% from 21.3%India business revenue down 15% to Rs 1,480 croreInternational business revenue flat at Rs 445 croreAll numbers are consolidated and compared on a year-on-year basisExceptional gain due of Rs 64 crore in current quarter due to Ind AS adjustment (re-measuring gain) for acquiring remaining 55% stake in Zed Lifestyle and making it a wholly-owned arm of the company.Shares are off the day's low after falling as much as 2.7% to Rs 347.3, post the announcement..Benchmark indices remain in a rangeNifty down 0.3% at 11,160Sensex down 0.24% at 38,036Nifty Bank down 3.4% at 21,883Nifty Midcap Index down 1.1%Nifty Smallcap Index down 0.3%India Volatility Index down 2.8% at 25.21Nifty I.T. extends gains; up 2.3%Nifty Metal is the other sectoral gainer; up 0.5%Nifty PSU bank down 3%Nifty Realty, Nifty Pharma down 1.8% eachNifty Media index down 1%Asian Paints is the top Nifty gainer; up 3.6%ICICI Bank remains the top Nifty laggard; down 5.5%1,273 stocks trade with losses while 549 gain.Revenue down 45.5% to Rs 1,479.1 croreNet profit down 64.1% to Rs 63.3 croreEbitda down 53% to Rs 130.8 croreEbitda margin at 8.8% from 10.3%Switchgears revenue down 44% to Rs 190 croreCable revenue down 41% to Rs 461.1 croreLighting & Fixtures revenue down 45% to Rs 138 croreElectric Consumer Durables revenue down 46% to Rs 301.7 croreLloyd Consumer revenue down 53% to Rs 306.2 croreAll numbers are standalone and compared on a year-on-year basis.Shares fell as much as 3.1% to Rs 587.6, post the announcement..The rupee gave up all of its gains to end nearly unchanged in today's session.The currency ended at 74.83 against the U.S. Dollar, which was the same level at which it closed on Friday.Despite ending unchanged, the rupee was the worst performing currency in Asia today as most of its Emerging Market peers are outperforming the U.S. Dollar.Yield on the 10-year government bond ended at 5.856% as compared to Friday's close of 5.824%..Net Interest Income up 18% to Rs 3,723.9 croreNet profit down 9% to Rs 1,244.4 croreGross NPA at 2.7% from 2.25% in the previous quarterNet NPA at 0.87% from 0.71% in the previous quarterProvisions down 8% from the previous quarter to Rs 962 croreSlippages up 62% quarter-on-quarter to Rs 796 croreProvisions for Covid-19 at Rs 616 crore9.65% of customers of loan book under moratorium80% of moratorium book is securedTotal provisions for Covid-19 at Rs 1,266 croreAverage savings deposits up 34%Average current account deposits up 10%Capital Adequacy Ratio at 21.2%All numbers are standalone and compared on a year-on-year basis.Shares fell as much as 2% to Rs 1,323.1, post the announcement..Reliance Industries' 2,200 Call: Premium up 22.9% to Rs 48.8. The contract has added 4.6 lakh shares in Open Interest.ICICI Bank's 400 Call: Premium down 80% to Rs 1.7. The contract has added 17.7 lakh shares in Open Interest.TCS' 2,200 Call: Premium up 67.2% to Rs 31.1. The contract has shed 1.3 lakh shares in Open Interest..Total income up 17% to Rs 86 croreNet profit up 67% to Rs 46.7 croreEbitda up 56% to Rs 58.8 croreTotal active beneficial owners accounts up 20 lakh to 2.32 croreIssuers admitted in demat going at 18% CAGR.Shares rose as much as 9.5% - the most in over six months to Rs 354. The stock is trading at the highest level since January 2018..Shares of ICICI Bank's brokerage unit fell the most in four months after ICICI Bank CEO Sandeep Batra during the post-earnings call, said that the bank will dilute 4% stake in the company during the current financial year.Shares fell as much as 8.2% to Rs 493.25. The trading volumes for the stock today are 32% above its 20-day average.The stock today is down for the second straight day..Markets in Europe have opened with a negative bias. A rally in miners is being offset by a quarantine spat between the U.K. and Spain, impacting airlines and other travel stocks.The Stoxx 600 has opened 0.2% lower. Technology and chemicals are the other sectors other than miners which are outperforming. Banks and travel stocks are declining.Asian markets have ended mixed while futures on the Dow Jones are trading higher by 100 points.Brent Crude is 0.4% lower at $43.16 per barrel while Gold is up 1.7%, at a record high of $1,934.6/Oz..Let's take a look at how benchmarks across Europe have opened:Euro Stoxx 50 down 0.5% at 3,294DAX up 0.2% at 12,863CAC down 0.3% at 4,942FTSE 100 down 0.2% at 6,110IBEX 35 down 0.9% at 7,228.Nifty July futures add 5.3% and 5.1 lakh shares in Open InterestNifty Bank July futures add 32.3% and 4.6 lakh shares in Open Interest.Nifty: July 30 Expiry11,200 Call: Premium down 27.2% to Rs 68.7. The contract has added 20.7 lakh shares in Open Interest.11,000 Put: Premium down 4.5% to Rs 47.7. The contract has added 4.1 lakh shares in Open Interest.11,100 Put: Premium up 3.8% to Rs 82.3. The contract has added 6.1 lakh shares in Open Interest..Nifty Bank: July 30 Expiry22,000 Put: Premium up 81.5% to Rs 300.4. The contract has added 59,500 shares in Open Interest.23,000 Call: Premium down 63% to Rs 84.85. The contract has added 3.6 lakh shares in Open Interest.22,500 Call: Premium down 57.6% to Rs 192. The contract has added 6.46 lakh shares in Open Interest..Among the top performing stocks on the Nifty 500 indexGains as much as 13.3% to Rs 558.7Biggest single-day gain since February 2017Trades at the highest level in five monthsSnaps four-day losing streakToday's volumes are 48% below its 20-day averageHas nearly doubled from its 52-week low of Rs 275 on March 24, 2020All five analysts tracking the stocks have a buy recommendationReturn potential of the stock as per Bloomberg data is 13.2%.Benchmark indices off day's lowNifty down 0.4% at 11,147Sensex down 0.4% at 37,977Nifty Bank down 2.5% at 22,084Nifty Midcap Index down 0.9%Nifty Smallcap Index down 0.3%India Volatility Index up 2.6% at 25.16Nifty I.T. extends gains; up 1.6%Nifty Metal is the other sectoral gainer; up 0.7%Nifty PSU Bank, Nifty Realty down 2% eachNifty Pharma is the other sectoral laggard; down 1.7%BPCL is the top Nifty gainer; up 2.7%ICICI Bank remains the top Nifty laggard; down 5.1%1,266 stocks on the NSE trade with losses; 512 gain.The Board of Directors have approved an enabling resolution for an issuance of equity shares or NCDs along with warrants or any other combination thereof, for an amount not exceeding Rs 1,200 crore, the exchange filing said.The board has also given its approval to raise capital up to Rs 1,000 crore through a Qualified Institutional Placement (QIP).A fund raising committee will determine the issue size, schedule and discount (if applicable), according to the exchange filing.Shares are off the day's low but trade with declines of 1% at Rs 971..Revenue up 34% to Rs 544.7 croreNet profit more than triples to Rs 85.45 croreEbitda up 2.5 times to Rs 134.1 croreEbitda margin at 24.6% from 13.5%All numbers are consolidated and compared on a year-on-year basis.Shares gained as much as 14.1% - the most since April 2015 to trade at an all-time high of Rs 1,811. The stock is up for the fourth straight day..Worst performing stock on the Nifty Midcap indexDeclines as much as 5.9% to Rs 133.2Biggest single-day drop in two monthsDown for the third straight dayHas declined 13% in the last three trading sessionsToday's volumes are 29% below its 20-day averageContinues to trade between its 100 and 200-Day Moving AverageThe stock had nearly doubled from its 52-week low of Rs 76.4 on May 22, 202022 out of the 35 analysts tracking the stock have a buy recommendation; 3 sell callsThe stock trades 1.3% above its 12-month consensus price target of Rs 132.7, implying a negative return potential.Revenue down 48% to Rs 757 croreNet profit down 76% to Rs 17 croreEbitda down 36% to Rs 155.7 croreEbitda margin at 20.6% from 16.5%Lower other expenses and finance costs aid margin improvementOther expenses down 53% to Rs 79.4 croreAll numbers are standalone and compared on a year-on-year basis.Shares gained as much as 3.6% to Rs 122.3, post the announcement before cooling off..Revenue down 50% to Rs 436 croreNet profit down 84% to Rs 17 croreEbitda down 63% to Rs 80 croreEbitda margin at 18.3% from 24.9%Inorganic Chemicals revenue down 41% to Rs 345 croreHome Textiles revenue down 68% to Rs 91 croreCovid-19 has affected overall business activities of the company, resulting in lower operating activityCovid-19 will result in shifting of supply chain from China to India and that will benefit both spinning and home textile.Expect sequential improvement in performance starting Q2FY21Hopeful that utilisation levels will improve by another 10-15% across verticalsAll numbers are standalone and compared on a year-on-year basis.Shares fell as much as 6.2% to Rs 142.65 and are down for the second straight day. The stock is down 9.5% in the last two trading sessions..The drugmaker announced that it has received approval of XEGLYZE lotion from the U.S. FDA.The approval triggers the contractual pre-commercialisation milestone of $20 million payable to Hatchtech Pty., the company said in a statement.The said lotion is used in the treatment of head lice infestation in patients aged six mnths and older.The company is working to commercialise this product through its partners, the statement said.Shares are recovering from the day's low after falling as much as 2.6% to Rs 3,962.9. The stock trades lower for the second straight day..The company has informed the exchanges that it has received export orders of close to 70,000 wheels from the EU Caravan Trailer Market.The order worth 4.29 lakh Euros will be executed in the month of September and October from its Chennai plant, it said in an exchange filing.Shares are off the day's low, after falling 3% in early trade. The stock currently trades little changed at Rs 429..Revenue down 27% to Rs 2,176.8 croreNet profit up 10% to Rs 453.4 croreEbitda down 14.8% to Rs 595.3 croreEbitda margin at 27.3% from 23.4%Improvement in margins due to lower power, fuel and freight costsMaster Supply Agreement with ACC contributes to margin expansionSales volumes at 4.19 MT from 5.82 MTHigher other income contributes to net profitOther income more than triples to Rs 192.1 croreAll numbers are consolidated and compared on a year-on-year basis.Brokerage firm Citi has maintained its buy rating on the stock. It has raised its price target to Rs 255 from Rs 235.Citi believes that the full benefit of the master supply agreement will reflect in CY21. It also expects the company's Ebitda per tonne to remain resilient in CY20.Shares gained as much as 3.3% to Rs 207.7. The stock is trading at the highest level in nearly five months..Benchmark indices extend losses; near the day's lowNifty down 0.8% at 11,105Sensex down 0.8% at 37,827Nifty Bank down 2.6% at 22,071Nifty Midcap Index down 1.1%Nifty Smallcap Index down 0.75%India Volatility Index up 4.2% to 25.56Nifty Pharma, Nifty PSU Bank fall over 2% eachNifty I.T. (up 0.8%) and Nifty Media (up 0.7%) are the only sectoral gainersNifty Realty and Nifty Auto down over 1% eachBPCL is the top Nifty gainer; up 2.1%ICICI Bank is the top Nifty laggard; down 4.1%1,248 stocks on the NSE decline while 448 trade with gains.The rupee opened with gains in today's session after posting its second straight week of gains on Friday.The currency opened at 74.71 against the U.S. Dollar as compared to Friday's close of 74.83.The Bloomberg Dollar spot index fell to the lowest since March which may aid sentiment among Emerging Market Currencies.Emkay Global Financial Services believes that the rupee may head towards 75.25 as August is a seasonally strong month for the greenback.Yield on the 10-year government bond opened at 5.816% as compared to Friday's close of 5.824%.Within the bond markets, traders will await RBI Governor Shaktikanta Das' interaction with the CII national council members at 11 a.m.Tata Mutual Fund believes that sovereign bond yields will remain on a downtrend but at a slower pace..Net Interest Income up 19.9% to Rs 9,279 croreNet profit up 36.3% to Rs 2,600 croreProvisions up 27% to Rs 7,594 crore sequentiallyGross NPA at 5.46% from 5.53% in the previous quarterNet NPA at 1.23% from 1.41% in the previous quarterMade additional Covid-19 related provisions worth Rs 5,550 crore this quarterTotal provisions against Covid-19 now at Rs 8,275 croreSold 3.96% stake in ICICI Lombard and 1.5% in ICICI Lombard - resulting in net gain of Rs 3,036.3 crore in the standalone resultsAdvances up 6.5% to Rs 6.31 lakh croreDeposits up 21% to Rs 8 lakh croreSlippages worth Rs 1,160 crore this quarterRecoveries and upgrades at Rs 757 crore this quarterNIMs at 3.69% from 3.87% last quarterLoans under moratorium down to 17.5% of total loans by June 30 from 30% in MarchWill dilute 4% stake in ICICI Securities this year.Shares fell as much as 4.5% - the most in a month to Rs 364.55. The stock trades lower for the second straight day and is the top laggard on the Nifty 50 index..Managing Director of the Mumbai-based private lender offloaded nearly all of his stake in the bank, three months ahead of his term ending.Puri sold 74.2 lakh shares or 0.13% stake for Rs 843 crore as per insider trading disclosures on the BSE website. Puri sold the shares between July 21-23.The shares were allotted to Puri at different times and different price points, a spokesperson said in a clarification.Puri's 26-year stint at HDFC Bank comes to an end in October this year. He had earlier exercised stock options worth Rs 161 crore, as per its annual report.The stock fell as much as 2.8% - the most in over a month to Rs 1,088. Shares trade lower for the second straight day and are among the top laggards on the Nifty 50 index..Another day when India reports close to 50,000 new cases49,931 cases reported in the last 24 hoursTotal number of cases now at 14,35,453Active cases now at 4,85,114Number of patients cured / discharged / migrated at 9,17,568Death toll rises to 32,771708 deaths reported in the last 24 hours31,991 patients recovered and were discharged during the last 24 hours.Coronavirus India Updates: India’s Covid-19 Tally Tops 14.3 Lakh; Over 9 Lakh Recovered.U.S. Dollar revenue up 3.1% to $131 millionRevenue up 7% to Rs 991.3 croreNet profit up 7% to Rs 90 croreEbit up 19% to Rs 101 croreEbit margin at 10.2% from 9.2%BFSI revenue up 9% to Rs 315.3 croreHealthcare and Life Sciences revenue up 10% to Rs 177.6 croreTechnology companies and Emerging verticals revenue up 4% to Rs 480.3 croreShare of top five customers down to 40.8% from 44.6% in Q1FY20Share of revenue from BFSI customers up to 31.8% from 27.7% in Q1FY20All numbers are consolidated and compared on a quarter-on-quarter basis.Shares gained as much as 19.2% - the most since 2010 to Rs 919.4. The stock currently trades at the highest level since September 2018..Indian equity markets have begun the final trading week of the July series on a flat note, opening with modest gains.The S&P BSE Sensex opened 0.38% higher at 38,275 while the NSE Nifty 50 index opened above the mark of 11,200 at 11,225 - up 0.3%. Benchmark indices had posted their sixth straight weekly gain on Friday.All sectoral indices have opened flat. Nifty Realty, Nifty FMCG and Nifty Metal index gained 0.3% at the start of trade.Broader markets too opened largely in-line with the benchmarks. Midcap index opened 0.3% higher while the smallcap index outperformed, opening with gains of 0.7%.Market breadth is in favour of the gainers. 904 stocks on the NSE opened with gains while 480 stocks declined at the start of trade..Global cases cross 16.1 millionDeath toll rises to 6.47 lakhHealth officials across the globe struggle with second wave of infectionsAustralia's Victoria reports 532 new cases61 new cases reported in China with 57 local infectionsBrazil reports 24,578 new cases - half from the previous day tally of 51,147Mexico's death toll in the March-June period at 55%5,180 cases reported in Texas - the smallest rise in two weeksIraq plans to impose a 10-day curfew ahead of Eid holidaysIran on red alert with 2,333 new cases and 216 deaths.It’s Time To Be ‘Selectively Opportunistic’, Says Kotak AMC’s Nilesh Shah.BPCL Offers Voluntary Retirement To Staff Ahead Of Privatisation.Mindspace Business Parks REIT: Here’s All You Need To Know.ICICI Bank: Net Interest Income up 19% while net profit rises 36.3%. Sold 3.96% stake in ICICI Lombard and 1.5% in ICICI Lombard - resulting in net gain of Rs 3,036.3 crore in the standalone results. Advances up 6.5% while deposits rise 21% from last year. Asset quality stable. Loans under moratorium down to 17.5% of total loans by June 30 from 30% in March. Management says will dilute 4% stake in ICICI Securities this year.Zee Entertainment: Reports net loss of Rs 766.7 crore. Ebitda loss of Rs 562.5 crore. One-time provision of Rs 343 crore on doubtful recovery of ad, subscription and other assets due to Covid-19. Exceptional loss on account of impairment of goodwill pertaining to digital publishing business at Rs 113.7 crore. Advertising revenue down 15% while subscription revenue up 31%.ITC: Net sales down 17.4% while net profit fell 26% from last year. Ebitda margin at 27.8% from 39.7%. FMCG and Agri business revenue see growth while Cigarette, hotels and paperboards revenue see de-growth. Macquarie says Cigarette volumes declined 40% this quarter.JSW Steel: Reports net loss of Rs 561 crore. Ebitda down 64% while margins declined to 11.4% from 18.7% last year. All overseas subsidiaries report a loss. Management says have seen modest increase in domestic steel prices in July and expect some more hike in August.Ambuja Cements: Revenue down 27% while net profit rises 10% led by tripling of other income compared to last year. Improvement in margins due to lower power, fuel and freight costs and Master Supply Agreement with ACC.Aarti Drugs: Revenue up 34% while net profit more than triples to Rs 85.45 crore. Ebitda up 2.5 times while margins rise to 24.6% from 13.5%Adani Power: Shareholders approve proposal to delist the company from the exchanges. For the public institutional shareholders 83.71% of equity shares were voted on, out of which 95.88% voted in favour for delisting the company, while for public non-institutional shareholders 56.27% of shares voted with 98.50% votes in favour of the delisting resolution.Escorts: Rakesh Jhunjhunwala reduced stake from to 6.82% from 6.97%. Jhunjhunwala sold 2 lakh shares on July 24.Karur Vyasa Bank: Rakesh Jhunjhunwala increases stake to 4.5% from 4.2% as per its shareholding pattern for June quarter.Spencer’s Retail: Sets rights issue price at Rs 75 per share. Rights entitlement ratio at 2 shares for every 15 shares held. Issue opens from August 4 till August 18, with record date set at July 29. Issue price at discount of 13% to Friday’s closing. On February 11, Board approved raising Rs 80 crore via rights issue.Mindspace Business Parks REIT: Raised Rs 1,518.75 crore from 54 anchor investors at Rs 275 per share. Issue opens on July 27. Key anchor investors in this allotment were Government of Singapore, Nomura, Fidelity Goup and key domestic investors included HDFC Life Insurance and SBI Life Insurance.Nifty Earnings Today: Bharti Infratel, Kotak Mahindra Bank, Tech MahindraNon-Nifty Earnings Today: V-Guard, Marico, Escorts, Bharat Electronics, Havells, India Cements, Orient Electric, Tejas Networks, United Spirits.For all that you need to know going into today’s trade, click here..Benchmark indices decline for the second straight dayS&P 500 declines 0.6% to the lowest in over a weekNasdaq fell 1% to the lowest in nearly three weeksSecond straight day of losses for the Nasdaq for the first time in 49 daysBloomberg Dollar spot index fell 0.6% to the lowest in over six monthsYield on the 10-year treasuries rose higher to 0.58%West Texas Intermediate crude rose 0.3% to $41.21 per barrel.Get your daily fix of the global markets here..Gold Extends Surge to Record as Haven Demand Builds Before Fed.Good Morning!Indian equities posted their sixth straight weekly gain on Friday. Since June 15, the S&P BSE Sensex and the NSE Nifty 50 Index have gained 4,348 and 1,222 points, respectively.The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.3% to 11,212 as of 7:55 a.m. on Monday. Also, the weekly expiry of the July futures and options series begins.Corporate earnings will take center stage. The street is expected to factor in the results announced by ICICI Bank, Zee Entertainment, JSW Steel, ITC after market hours on Friday and over the weekend. Some of the broader market stocks such as Ambuja Cements, Aarti Drugs, MCX, GHCL, Coromandel International also announced their first-quarter results.Three Nifty 50 stocks — Kotak Mahindra Bank, Tech Mahindra and Bharti Infratel — are set to report their quarterly results on Monday. The non-Nifty list includes Havells, United Spirits, Marico, Escorts and V-Guard, among others.Asian markets are mixed at the start of the final trading week of July. Markets in Japan are declining, while those in Hong Kong and South Korea are edging higher.Futures on the Dow Jones are trading higher by 120 points. The index ended 0.7% higher on Monday..Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.

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Sensex, Nifty End Lower; Nifty Bank Falls 800 Points

Closing Bell: A Weak Close

How Did The Sectoral Indices Fare

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