Sensex, Nifty Log Worst Week In Nearly Three Months
A financial trader monitors data on computer screens on the trading floor inside a stock exchange. (Photographer: Jasper Juinen/Bloomberg)

Sensex, Nifty Log Worst Week In Nearly Three Months

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Closing Bell: Sensex, Nifty Log Worst Week In Nearly Three Months

Indian equity benchmarks registered their worst week since May 12.

The S&P BSE Sensex declined around 2 percent this week to end at 37,118.22 and the NSE Nifty 50 ended at 10,997.35, down 2.5 percent. The broader market represented by the NSE Nifty 500 Index closed 2.7 percent lower.

The 31-share index closed 0.32 percent higher at 37,137.011 and the 50-stock index ended 0.16 percent. The 500-share gauge ended 0.1 percent higher.

The market breadth, however, was tilted in favour of sellers. About 961 stocks declined and 796 shares advanced on National Stock Exchange.

Seven out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Metal Index’s 1.9 percent fall. On the flipside, the NSE Nifty Auto Index was the top sectoral gainer, up 1.13 percent.

Sensex, Nifty Log Worst Week In Nearly Three Months

Market Check: Sensex, Nifty Set For Worst Week In Nearly Three Months

Indian equity benchmarks are set register their worst week since second week of May.

The S&P BSE Sensex declined 2 percent so far this week and the NSE Nifty 50 fell nearly 2.5 percent during the period. Both the benchmarks were trading a little changed 30 minutes before the close.

Fab Four Stocks Of The Day

HDFC

  • Stock rose as much as 3 percent to Rs 2,148.65.
  • Revenue up 30.6 percent to Rs 12,990 crore.
  • Net profit up 46.3 percent to Rs 3,203 crore.
  • Calculated net interest income up 6.9 percent to Rs 2,739 core.
  • Net interest margin At 3.3 percent

Tech Mahindra

  • Stock rose as much as 2 percent to Rs 638.20.
  • About 12.7 lakh shares changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.

KRBL

  • Stock rose as much as 9.9 percent to Rs 251.
  • June quarter revenue rose 64 percent year-on-year to Rs 1,218 crore driven strong export sales.

Tata Global Beverages

  • Stock rose as much as 4.3 percent Rs 269.75.
  • Fresh longs seen with high open interest of 20.8 percent.

Stocks Reacting To Results Announcements

Firstsource Solutions (Q1, YoY)

  • Stock fell as much as 2.8 percent to Rs 48.
  • Net profit at Rs 91.17 crore versus Rs 88.61 crore.
  • Revenue at Rs 966.88 crore versus Rs 905.97 crore.

Inox Leisure (Q1, YoY)

  • Stock rose as much as 3.6 percent to Rs 304.80.
  • Revenue up 18.8 percent to Rs 493 crore
  • Net profit down 27 percent to Rs 27 crore
  • Ebitda up 80 percent to Rs 150.1 crore.
  • Margin at 30.4 percent versus 20.1 percent.

Exide Industries (Q1, YoY)

  • Stock fell as much as 2.9 percent to Rs 2,148.65.
  • Revenue up 0.2 percent to Rs 2779.25 crore.
  • Net profit up 7 percent to Rs 224.29 crore.
  • Ebitda up 4 percent to Rs 407.7 crore.
  • Margin at 14.7 percent versus 14.1 percent.

Mindtree Names Debashis Chatterjee As New CEO

Debashis Chatterjee was named chief executive officer and managing director of Mindtree Ltd. after his predecessor quit following Larsen & Toubro Ltd.’s hostile takeover of the mid-sized information technology firm.

Chatterjee replaces Rostow Ravanan, who quit on July 5 along with then Chairman Krishnakumar Natarajan and former vice-chairman Parasarthy NS.

Read the full story here.

Stocks Moving On Heavy Volumes

CARE Ratings

  • Stock hit 20 percent lower circuit at Rs 486.70.
  • Trading volume was almost 40 times its 20-day average.

Kirloskar Pneumatic

  • Stock fell as much as 11.8 percent to Rs 153.50.
  • Trading volume was 20 times its 20-day average.

JK Tyre & Industries

  • Stock fell as much as 14.4 percent to Rs 60.95.
  • Trading volume was 16 times its 20-day average.

TCNS Clothing

  • Stock fell as much as 3.4 percent to Rs 676.20.
  • Trading volume was more than 13 times its 20-day average.
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