Sensex, Nifty Halt Longest Stretch Of Gains In Over Seven Months
A pedestrian walks besides BSE building at Dalal Street, Mumbai. (Photographer: Anirudh Saligrama/BloombergQuint)

Sensex, Nifty Halt Longest Stretch Of Gains In Over Seven Months

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Closing Bell: Sensex, Nifty Halt Longest Stretch Of Gains In Over Seven Months

Indian equity benchmarks halted their seven-day gaining streak, their longest stretch of gains since March 20.

The S&P BSE Sensex fell 0.13 percent to end at 40,248.23 and the NSE Nifty 50 fell 0.2 percent to close at 11,917.20. The broader markets represented by the NSE Nifty 500 Index fell 0.39 percent.

The market breadth was tilted in favour of sellers. About 1,093 stocks declined and 681 shares advanced on National Stock Exchange.

Ten out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Media Index’s 1.53 percent fall. On the flipside, the NSE Nifty FMCG Index was the top sectoral gainer, up 0.33 percent.

Fab Four Stocks Of The Day

Mahindra Holidays

  • Stock rose as much as 8.2 percent to Rs 252.
  • Revenue rose 7.7 percent to Rs 555.7 crore.
  • Net profit stood at Rs 23.9 crore versus net loss of Rs 1.6 crore.
  • Ebitda rose 3.9 times to Rs 99.6 crore.
  • Margin stood at 17.9 percent versus 5 percent.

Future Enterprises

  • Stock rose as much as 17.8 percent to Rs 29.50.
  • Revenue up 6.1 percent to Rs 1,699.8 crore.
  • Net profit at Rs 17 crore versus Rs 1.3 crore.
  • Ebitda up 22.1 percent to Rs 444.7 crore.
  • Margin at 26.2 percent versus 22.7 percent.

Indiabulls Housing Finance

  • Stock rose as much as 6.3 percent to Rs 232.65.
  • Fresh longs seen with high OI of 10 percent.

ITC

  • Stock rose as much as 1.3 percent to Rs 264.
  • Macquarie has maintained ‘Outperform’ rating on the stock with a price target at Rs 261.3
  • Market share growth expected for cigarette and it will recover lost market share in near term.

Market Check: Sensex, Nifty Set To Halt Longest Gaining Streak In Over Seven Months

Indian equity benchmarks are set to halt their seven-day gaining streak, their longest stretch of gains since March 20.

The S&P BSE Sensex fell 0.12 percent to 40,250 as of 3 p.m. and the NSE Nifty 50 fell 0.19 percent to 11,917. The broader markets represented by the NSE Nifty 500 Index rose 0.37 percent.

Large Trade Alert: UPL

About 40 lakh shares of UPL changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

Stocks Reacting To Results Announcement

Future Enterprises (Q2, YoY)

  • Stock rose as much as 17.8 percent to Rs 29.50.
  • Revenue up 6.1 percent to Rs 1,699.8 crore.
  • Net profit at Rs 17 crore versus Rs 1.3 crore.
  • Ebitda up 22.1 percent to Rs 444.7 crore.
  • Margin at 26.2 percent versus 22.7 percent.

Apollo Tyres (Q2, YoY)

  • Stock fell as much as 2.3 percent to Rs 181.20.
  • Revenue down 6.3 percent to Rs 3,986 crore.
  • Net profit down 43.2 percent to Rs 83 crore.
  • Ebitda down 7.5 percent to Rs 432 crore.
  • Margin at 10.8 percent versus vs 11 percent.

NCC (Q2, YoY)

  • Stock fell as much as 5.8 percent to Rs 54.65.
  • Revenue down 44.2 percent to Rs 1,732 crore.
  • Net profit down 36.3 percent to Rs 80.04 crore.
  • Ebitda down 36.2 percent to Rs 233.02 crore.
  • Margin at 13.4 percent versus 11.7 percent.

Berger Paints (Q2, YoY)

  • Stock fell as much as 2.4 percent to Rs 491.05.
  • Revenue up 7 percent to Rs 1,599 crore.
  • Net profit up 67 percent to Rs 195 crore.
  • Ebitda up 13.6 percent to Rs 251 crore.
  • Margin at 15.7 percent versus 14.8 percent.
  • Bottomline aided by deferred tax credit of Rs 17.5 crore in the current quarter.

Global Markets Update: Europe Stocks Trade Mixed

European stocks were mixed and U.S. index futures climbed as investors kept an eye on signs America and China are inching toward a trade deal.

  • Futures on the S&P 500 Index increased 0.2 percent
  • The Stoxx Europe 600 Index was little changed.
  • The Shanghai Composite Index advanced 0.5 percent.
  • The MSCI Emerging Market Index gained 0.5 percent.

Get your daily fix of global markets here.
Source: Bloomberg

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