Sensex, Nifty Gain For Eight Out Of Last 10 Trading Sessions
A bear and a bull statue stand outside the Frankfurt Stock Exchange, operated by Deutsche Boerse AG, in Frankfurt, Germany> (Photographer: Peter Juelich/Bloomberg)

Sensex, Nifty Gain For Eight Out Of Last 10 Trading Sessions

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Markets At Close

  • Benchmark indices end substantially off the day's high
  • Nifty ends 0.25% higher at 10,167
  • Sensex ends 0.24% higher at 34,370
  • Nifty Bank ends 0.7% higher at 21,187
  • Nifty Midcap Index ends 0.5% higher
  • Nifty Smallcap Index ends 1.2% higher
  • India Volatility Index ends 3.6% higher at 29.72; snaps four-day losing streak
  • Nifty Media ends as top sectoral laggard; down 1.66%
  • Nifty Pharma and Nifty PSU Bank decline over 1%
  • Nifty I.T. outperforms; ends 1.8% higher
  • GAIL ends as the top Nifty gainer; up 7.5%
  • Zee Entertainment ends as the top Nifty laggard; down 4.5%
  • 1,264 stocks on the NSE end with gains while 574 decline

What Kept Nifty Gains In Check

Closing Bell: Indices Give Up Gains As Volatility Rises

Indian equity markets ended the first trading day of the week with gains, despite giving up most of them during the second half of the session.

The S&P BSE Sensex ended 0.24% higher at 34,370. The index 550 points from the highest point of the day. The NSE Nifty 50 index too fell 160 points from its day's high, to end 0.25% higher at 10,167.

With gains in today's session, benchmark indices have now advanced in eight out of the last 10 trading sessions.

Among sectoral indices, the Nifty Bank index fell 600 points from its day's high to end 0.9% higher.

Sectoral laggards included Nifty Pharma (down 1.45%), Nifty PSU Bank (down 1.37%), Nifty Media (down 1.6%), Nifty Metal (ends with negative bias), Nifty FMCG and Nifty Auto index, all of whom gave up gains made in the first half of trade.

The Nifty I.T. index emerged as the top performer, ending 1.8% higher.

Market breadth remained in favour of the advances as the broader markets outperformed. 1,264 stocks on the NSE ended with gains while 574 posted losses.

Nifty PSU Bank Set To Snap Longest Winning Streak Since November 2019

Sensex, Nifty Gain For Eight Out Of Last 10 Trading Sessions

Covid-19 Update: Tata Chemicals

  • Mithapur unit achieved record monthly production and dispatches for Tata Salt in May.
  • Sales volumes of soda ash and bicarbonate were over 70% of the same period last year in May.
  • U.K. operations have not suffered any disruption in production or sales.
  • Mambattu and Cuddalore units started limited operations in May 2020.
  • Will see effects of lockdown in India as well as South East Asia in Q1FY21. Value of the same cannot be quantified.
  • No material change to the company's liquidity position.
  • No borrowings and sufficient credit lines are available.

Shares are trading 1% lower at Rs 315.3, snapping a two-day gaining streak.

Earnings Estimates: Titan Q4FY20

  • Net sales seen 6.1% lower at Rs 4,338 crore
  • Ebitda seen 2.8% lower at Rs 443 crore
  • Ebitda margin seen at 10.1% at 9.8%
  • Net profit seen 3.4% lower at Rs 285 crore
  • All estimates are Bloomberg estimates, standalone and compared on a year-on-year basis

Key Factors At Play For Titan:

  • Jewellery sales which form 80% of the total revenue may decline 5%
  • High prices of gold, Covid-19 lockdown may impact Jewellery sales
  • Growth in January, February adversely countered by sharp drop in March
  • Watches aided by online sales
  • Eyewear sales may decline 13%
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