Sensex, Nifty Log Worst July In 17 Years
A customer watches share prices on an electronic stock board at a security firm in Shanghai, China. (Photographer: Tomohiro Ohsumi/Bloomberg)

Sensex, Nifty Log Worst July In 17 Years

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Sensex, Nifty Log Worst July In 17 Years

Indian equity benchmarks clocked their work July since 2002.

The S&P BSE Sensex fell 4.9 percent this month to end the month at 37,481.12 and the NSE Nifty 50 closed nearly 6 percent lower at 11,118. The broader market represented by the NSE Nifty 500 fell nearly 6.5 percent.

The benchmark indices halted a two-day fall. The 31 share index closed 0.22 percent higher and the 50-stock index closed 0.29 percent higher. The 500-share gauge closed 0.42 percent higher.

The market breadth, however, was tilted in favour of sellers. About 920 stocks declined and 866 shares advanced on National Stock Exchange.

Eight out of 11 sectoral gauges compiled by National Stock Exchange ended higher, led by the NSE Nifty Metal Index’s 2.3 percent gain. On the flispdie, the NSE Nifty Media Index was the top sectoral loser, down 2.9 percent.

Sensex, Nifty Log Worst July In 17 Years

Fab Four Stocks Of The Day

Gujarat Gas

  • Stock rose as much as 11.8 percent to Rs 182.95.
  • Revenue up 48.1 percent to Rs 2,614.6 crore.
  • Net profit up 91.6 percent to Rs 234 crore.
  • Ebitda up 87.7 percent to Rs 466.6 crore.
  • Margin at 17.8 percent versus 14.1 percent.
  • Earnings expected to double in next two years

JSW Steel

  • Stock rose as much as 3.5 percent to Rs 238.25.
  • The company was been declared preferred bidder for another 3 iron ore mines in auctions held by Karnataka.
  • The estimated resources of these mines stand at around 93 MMT.

Quess Corp

  • Stock rose as much as 9.6 percent to Rs 438.90.
  • Shares snapped two-day fall.

Lemon Tree Hotels

  • Stock rose as much as 9.9 percent to Rs 64.40.
  • Volumes trading at 16 times its 20-day average.

Market Check: Sensex, Nifty Hold Gains

Indian equity benchmarks managed to hold gains, but are headed for worst July since 2002.

The S&P BSE Sensex rose 0.2 percent to 37,468 as of 3 p.m. and the NSE Nifty 50 rose 0.23 percent to 11,111.

The market breadth was tilted in favour of sellers. About 969 stocks declined and 775 shares advanced on National Stock Exchange

Stocks Reacting To Results Announcement

Future Retail (Q1, YoY)

  • Stock fell as much as 3.6 percent to Rs 405.10.
  • Revenue up 13.5 percent to Rs 5149.36 crore
  • Net Profit up 6 percent to Rs 162.5 crore
  • Ebitda up 186 percent to Rs 632.84 crore
  • Margin at 12.3 percent versus 4.9 percent

Allahabad Bank (Q1, YoY)

  • Stock fell as much as 5.1 percent to Rs 37.05
  • Net profit at Rs 128 crore versus loss of Rs 1,944 crore
  • Net interest income down 10 percent to Rs 1,530 crore
  • Provisions down 81 percent to Rs 1,008.8 crore (QoQ)
  • Gross NPA at 17.43 percent versus 15.97 percent (QoQ)
  • Net NPA at 5.71 percent versus 7.32 percent (QoQ)

Blue Dart (Q1, YoY)

  • Stock fell as much as 1.3 percent to Rs 2,370.
  • Revenue up 7.3 percent to Rs 786.55 crore
  • Net Profit down 79 percent to Rs 4.59 crore
  • Ebitda flat at Rs 44.55 crore
  • Margin at 5.7 percent versus 6.1 percent

Stocks Moving On Heavy Volumes

Vardhman Holdings

  • Stock fell as much as 5.2 percent to Rs 1,505.15
  • Trading volume more than 50 times its 20-day average.

Shoppers Stop

  • Stock rose as much as 2.5 percent to Rs 387.40.
  • Trading volume more than 30 times its 20-day average.

Solar Industries

  • Stock fell as much as 2.9 percent to Rs 1,100.60.
  • Trading volume more than 20 times its 20-day average.

Vaibhav Global

  • Stock rose as much as 3.7 percent to Rs 905.
  • Trading volume was almost 30 times its 20-day average.

Indian Oil Gains After Q1 Results

Shares of Indian Oil Corporation Ltd. rose as much as 2.6 percent to Rs 136.90 after the company announced its June quarter results.

Key Earnings Highlights (Q1, QoQ)

  • Revenue up 4.2 percent to Rs 1.31 lakh crore.
  • Net profit fell 41 percent to Rs 3,596 crore.
  • Ebitda down 23.22 percent to Rs 8,350 crore.
  • Margin at 6.35 percent versus 8.6 percent.
  • GRM at $4.69 a barrel.
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