Sensex, Nifty End With Gains; HDFC Twins Top Laggards
Catch all live updates on share prices, index moves, corporate announcements and more from the Sensex and Nifty, today.
KEY HIGHLIGHTS
Closing Bell: A Subdued Close
Indian equity markets failed to hold on to opening gains, ending significantly off the day's high. Private financials were the biggest laggards in today's session.
The S&P BSE Sensex ended 0.27% higher at 36,693 while the NSE Nifty 50 index ended at 10,815, up 0.44%. Both benchmark indices fell 330 and 80 points respectively from the highest point of the day.
Banks underperformed in today's trade with the Nifty Bank and the PSU bank index ending 1.3% and 1.6% lower respectively. Realty stocks were the other laggards with the index ending 1.% lower.
The outperformers in today's trade were I.T., FMCG and Metal stocks. The I.T. index ended 1.7% higher while the FMCG and Metal index gained 1.3% and 1.5% respectively.
HDFC twins ended the session off their respective lows but ended 2% lower and contributed the most in terms of points to the Nifty downside.
Broader markets remained flat in today's session. The midcap index ended 0.2% lower while the smallcap index ended little changed.
Market breadth remained in favour of the laggards. 1,079 stocks on the NSE ended with losses while 777 ended with gains.
How Did The Sectoral Indices Fare
Active Stock Options
- Reliance Industries' 2,000 Call: Premium up 47.2% to Rs 56.75. The contract has added 5 lakh shares in Open Interest.
- State Bank of India's 200 Call: Premium down 16.5% to Rs 7.1. The contract has added 12.5 lakh shares in Open Interest.
- Bajaj Finance's 3,500 Call: Premium down 13.6% to Rs 122.65. The contract has added 5.5 lakh shares in Open Interest.
Earnings Reaction: IRCTC
The catering, tourism and ticket booking unit of the Indian Railways reported a 79% growth in its net profit for the quarter ended March.
Margins rose to 34.4% from 14.2% due to lower other expenses and catering expenses. Other expenses for the company fell to Rs 41.5 crore from Rs 89.8 crore.
While revenue for the catering segment fell 20%, that of the Rail Neer business grew 19%. The company's internet ticketing revenue nearly tripled compared to the previous year. Tourism revenue also grew 23% compared to the previous year.
The board declared a dividend of Rs 2.5 per equity share post the earnings.
Shares gave up gains of as much as 3% and now trade little changed at Rs 1,403.5.
HDFC Bank Leads Losses On The Nifty Bank Index
Covid-19 Impact: Repco Home Finance
- Revenue and profitability will be impacted due to the lockdown.
- Has been servicing debt and other financial obligations during the lockdown.
- Not opted for any moratorium offered by its lending institutions.
- Collection of EMIs have been postponed in some accounts due to the moratorium.
- There was hardly any business in April. Saw some pick-up in May and further pick-up in June. However, it remains below normal levels.
- Facing tough competition from banks and other institutions which are providing loans at attractive rates.
Shares are at the day's low, falling as much as 2.4% to Rs 126.7, down for the second straight day.
European Markets Open Higher
Markets in Europe opened higher, continuing Friday's intraday reversal to gain for the second straight day.
The Stoxx 600 index opened 0.8% higher led by banks, auto and travel stocks.
Asian markets have ended their day on a positive note while futures on the Dow Jones are trading higher by 140 points.
Brent crude trades 0.9% higher at $42.86 per barrel while gold trades 0.5% higher at $1,807/Oz.
Let's take a look at how the European markets are faring at open:
- Euro Stoxx 50 up 1.2% at 3,335
- DAX up 1.4% at 12,811
- CAC up 1.13% at 5,026
- FTSE 100 up 1.3% at 6,174
- IBEX 35 up 1.2% to 7,411