Sensex ends 238 pts down as 11% surge on Infosys fails to square off 15% drop @ Sun Pharma counter
S&P BSE Sensex ended the day down 237.98 points, or 0.84 per cent at 28,182.14. The index, which was trading in a narrow band of 100 points for most of the session, took a sudden plunge of over 250 points in the late trade.
By ET Online | Updated:
NEW DELHI: The S&P BSE Sensex ended the day down 237.98 points, or 0.84 per cent at 28,182.14. The index, which was trading in a narrow band of 100 points for most of the session, took a sudden plunge of over 250 points in the late trade.
The broader 50-share Nifty settled the session down 74 points, or 0.86 per cent, at 8,529.45.
23 of the Sensex stocks ended the day in red.
Infosys and Sun Pharma hogged the limelight through the day. While Infosys spurted 11.3 per cent to settle at Rs 1,115 after the June quarter earnings came in line with expectations, Sun Pharma plunged 15 per cent, a day after the company warned of tepid earnings for the June quarter.
Selling was observed in index heavyweights such as Reliance Industries, ITC and stocks of select lenders. But Sun Pharma alone contributed most to the fall. A rally in the stocks of Infosys though capped the losses.
European markets were trading mixed at the time domestic markets closed.
Earlier, most Asian markets finished the day in the green. The gains were led by China's Shanghai Composite Index ended the day on a high for the fourth consecutive day, to close o.64 per cent up, or 25.56 points at 4,017.67 points. Hong Kong's Hang Seng was up over 150 points. Meanwhile, Japan's Nikkei settled the day 0.93 per cent, or 191.05 points up at 20,841.97.
Here's a list of frontline companies which came out with their quarterly numbers earlier in the day.
Infosys: The company reported its June quarter numbers, before the market hours. The numbers came in more or less in line with ET Now's poll
Following the numbers, Infosys surged over 11.3 per cent in trade to hit its day's high of Rs 1,115 on the BSE. The market capitalisation of the stock swelled to Rs 2,51,791 crore, pipping ONGC's Rs 2,46,141.45 crore and ITC's Rs 2,53,691.19 crore during intraday trades. This helped the scrip to briefly become the fifth most valued firm on the BSE.
The IT major clocked a sequential growth of 5.4 per cent QoQ in volumes and has guided for a revenue growth of 10-12 per cent for the FY2015-16, in constant currency terms.
While the asset quality is stable, there is some downward bias quarter-on-quarter basis. Gross non-performing assets increased slightly to 0.95 per cent vs 0.93 per cent and net NPA rose to 0.27 per cent as against 0.25 per centin the previous quarter.
Hindustan Unilever: The company reported a net profit of Rs 1,060 crore, up 0.4 per cent, as against a net profit of Rs 1,056 crore in the corresponding quarter last fiscal. The PAT is far lower than ET Now poll estimates of Rs 1120 crore.
Sales grew at Rs 7,973 crore, up 5.3 per cent, as against Rs 7,570 crore, in year-ago period. The company reported volume growth of 6 per cent.
Asian Paints: The company clocked a 34.4 per cent jump in its consolidated net profit to Rs 455 crore for the June quarter. The rise in profit came on the back of a 7.59 per cent YoY rise in net sales at Rs 3,578 crore.
The paints maker had reported a net profit of Rs 338.70 crore and net sales of Rs 3,325.42 crore in the corresponding quarter of the last financial year.
BUZZING STOCKS
ITC lost over 2 per cent in intraday trade.
HUL fell 4.4 per cent intraday trade after the company reported a net profit of Rs 1,060 crore, up 0.4 per cent, as against a net profit of Rs 1,056 crore in the corresponding quarter last fiscal.
Unitech plunged nearly 13 per cent as as promoters cut stake in the company by 1293 bps QoQ.
Tinplate Company of India rallied over 17 per cent in intraday trade as ?the company's Q1 PAT stood at Rs 22.8 crore vs Rs 10.6 crore, up 115% YoY.
CCL Products gained over 12 per cent in intraday trade.
Ojas Asset Reconstruction pared gains after it spiked nearly 11 per cent in intraday trade.
Bharti Airtel added over 5 per cent in intraday trade to hit its 52-week high.
Kitex Garments lost over 13 per cent in intraday trade.
WHAT TOP EXPERTS SAY
Currency woes in EM and EU markets, Africa tenders aggravated the issues: BofA ML on Sun Pharma
Expect equity markets in Asia to continue to do well: AMP Capital
Midcaps' valuations a bit expensive; tread cautiously: Girish Pai
MARKETS THROUGH THE DAY
Markets @ 3:03
Sensex: 28,158, down 261 points; Nifty: 8,524, down 79 points
Markets @ 3:00
Sensex: 28,208, down 211 points; Nifty: 8,538, down 68 points
Markets @ 2:20
Sensex: 28,410, down 9 points; Nifty: 8,600 down 3 points
Top Gainers
INFOSYS LTD (11.9%), BHARTI AIRTEL (4.3%), WIPRO (2.7%), BHEL (2.3%), COAL INDIA (1.5%)
Top Losers
SUN PHARMA (-13.7%), VEDANTA LTD (-3.8%), LUPIN LTD (-3.3%), TATA STEEL (-2.9%), ONGC (-2.3%)
Markets @ 12:30
Sensex: 28,390, down 29 points; Nifty: 8,601 down 2 points
Top Gainers
INFOSYS LTD (9.9%), BHARTI AIRTEL (5.2%), WIPRO (2.8%), BAJAJ AUTO (1.4%), COAL INDIA (0.9%)
Top Losers
SUN PHARMA (-13.8%), LUPIN LTD (-3.5%), VEDANTA LTD (-3.2%), TATA STEEL (-2.6%), HIND. UNILEVER (-2.5%)
Markets @ 11:00
Sensex: 28,457, up 37 points; Nifty: 8,620 up 16 points
Top Gainers
INFOSYS LTD (9.6%), BHARTI AIRTEL (4.5%), WIPRO (3.1%), HERO MOTOCORP (1.0%), HDFC BANK (0.8%0
Top Losers
SUN PHARMA (-12.4%), VEDANTA LTD (-3.6%), TATA STEEL (-2.6%), HINDALCO (-2.5%), HIND. UNILEVER (-2.3%)
Markets @ 10:00
Sensex: 28,503, up 83 points; Nifty: 8,626, up 22 points
Top Gainers
INFOSYS LTD (9.5%), BHARTI AIRTEL (4.1%), WIPRO (2.8%), HERO MOTOCORP (1.0%), COAL INDIA (0.8%)
Top Losers
SUN PHARMA (-12.0%), VEDANTA LTD (-2.2%), LUPIN LTD (-2.2%), HIND. UNILEVER (-1.7%), ONGC (-1.5%)
Markets @ 9:40
Sensex: 28,428, up 8 points; Nifty: 8,606, up 2 points
The broader 50-share Nifty settled the session down 74 points, or 0.86 per cent, at 8,529.45.
23 of the Sensex stocks ended the day in red.
Infosys and Sun Pharma hogged the limelight through the day. While Infosys spurted 11.3 per cent to settle at Rs 1,115 after the June quarter earnings came in line with expectations, Sun Pharma plunged 15 per cent, a day after the company warned of tepid earnings for the June quarter.
Selling was observed in index heavyweights such as Reliance Industries, ITC and stocks of select lenders. But Sun Pharma alone contributed most to the fall. A rally in the stocks of Infosys though capped the losses.
European markets were trading mixed at the time domestic markets closed.
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Earlier, most Asian markets finished the day in the green. The gains were led by China's Shanghai Composite Index ended the day on a high for the fourth consecutive day, to close o.64 per cent up, or 25.56 points at 4,017.67 points. Hong Kong's Hang Seng was up over 150 points. Meanwhile, Japan's Nikkei settled the day 0.93 per cent, or 191.05 points up at 20,841.97.
Here's a list of frontline companies which came out with their quarterly numbers earlier in the day.
Infosys: The company reported its June quarter numbers, before the market hours. The numbers came in more or less in line with ET Now's poll
Following the numbers, Infosys surged over 11.3 per cent in trade to hit its day's high of Rs 1,115 on the BSE. The market capitalisation of the stock swelled to Rs 2,51,791 crore, pipping ONGC's Rs 2,46,141.45 crore and ITC's Rs 2,53,691.19 crore during intraday trades. This helped the scrip to briefly become the fifth most valued firm on the BSE.
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Infosys said its Q1 PAT fell 1.97 per cent QoQ to Rs 3,030 cr in the June quarter, compared with Rs 3,091 crore in the March quarter. Consolidated revenue for the June quarter rose 7.03 per cent QoQ to Rs 14,354 crore, compared with Rs 13,411 crore in the March quarter. In dollar terms, consolidated revenues grew 4.68 per cent QoQ at $2,260 million in the first quarter, compared with Rs $2,159 million in the preceding quarter.The IT major clocked a sequential growth of 5.4 per cent QoQ in volumes and has guided for a revenue growth of 10-12 per cent for the FY2015-16, in constant currency terms.
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HDFC Bank: HDFC Bank slipped over 1 per cent in intraday trade after the company released its Q1 earnings. HDFC Bank reported a net profit of Rs 2,700 crore in April-June quarter against a net profit of Rs 2,233 crore in the same period last fiscal. Net interest income rose to Rs 6,390 crore, up 23.5 per cent on year, from Rs 5,172 crore.While the asset quality is stable, there is some downward bias quarter-on-quarter basis. Gross non-performing assets increased slightly to 0.95 per cent vs 0.93 per cent and net NPA rose to 0.27 per cent as against 0.25 per centin the previous quarter.
Hindustan Unilever: The company reported a net profit of Rs 1,060 crore, up 0.4 per cent, as against a net profit of Rs 1,056 crore in the corresponding quarter last fiscal. The PAT is far lower than ET Now poll estimates of Rs 1120 crore.
Sales grew at Rs 7,973 crore, up 5.3 per cent, as against Rs 7,570 crore, in year-ago period. The company reported volume growth of 6 per cent.
Asian Paints: The company clocked a 34.4 per cent jump in its consolidated net profit to Rs 455 crore for the June quarter. The rise in profit came on the back of a 7.59 per cent YoY rise in net sales at Rs 3,578 crore.
The paints maker had reported a net profit of Rs 338.70 crore and net sales of Rs 3,325.42 crore in the corresponding quarter of the last financial year.
BUZZING STOCKS
ITC lost over 2 per cent in intraday trade.
HUL fell 4.4 per cent intraday trade after the company reported a net profit of Rs 1,060 crore, up 0.4 per cent, as against a net profit of Rs 1,056 crore in the corresponding quarter last fiscal.
Unitech plunged nearly 13 per cent as as promoters cut stake in the company by 1293 bps QoQ.
Tinplate Company of India rallied over 17 per cent in intraday trade as ?the company's Q1 PAT stood at Rs 22.8 crore vs Rs 10.6 crore, up 115% YoY.
CCL Products gained over 12 per cent in intraday trade.
Ojas Asset Reconstruction pared gains after it spiked nearly 11 per cent in intraday trade.
Bharti Airtel added over 5 per cent in intraday trade to hit its 52-week high.
Kitex Garments lost over 13 per cent in intraday trade.
WHAT TOP EXPERTS SAY
Currency woes in EM and EU markets, Africa tenders aggravated the issues: BofA ML on Sun Pharma
Expect equity markets in Asia to continue to do well: AMP Capital
Midcaps' valuations a bit expensive; tread cautiously: Girish Pai
MARKETS THROUGH THE DAY
Markets @ 3:03
Sensex: 28,158, down 261 points; Nifty: 8,524, down 79 points
Markets @ 3:00
Sensex: 28,208, down 211 points; Nifty: 8,538, down 68 points
Markets @ 2:20
Sensex: 28,410, down 9 points; Nifty: 8,600 down 3 points
Top Gainers
INFOSYS LTD (11.9%), BHARTI AIRTEL (4.3%), WIPRO (2.7%), BHEL (2.3%), COAL INDIA (1.5%)
Top Losers
SUN PHARMA (-13.7%), VEDANTA LTD (-3.8%), LUPIN LTD (-3.3%), TATA STEEL (-2.9%), ONGC (-2.3%)
Markets @ 12:30
Sensex: 28,390, down 29 points; Nifty: 8,601 down 2 points
Top Gainers
INFOSYS LTD (9.9%), BHARTI AIRTEL (5.2%), WIPRO (2.8%), BAJAJ AUTO (1.4%), COAL INDIA (0.9%)
Top Losers
SUN PHARMA (-13.8%), LUPIN LTD (-3.5%), VEDANTA LTD (-3.2%), TATA STEEL (-2.6%), HIND. UNILEVER (-2.5%)
Markets @ 11:00
Sensex: 28,457, up 37 points; Nifty: 8,620 up 16 points
Top Gainers
INFOSYS LTD (9.6%), BHARTI AIRTEL (4.5%), WIPRO (3.1%), HERO MOTOCORP (1.0%), HDFC BANK (0.8%0
Top Losers
SUN PHARMA (-12.4%), VEDANTA LTD (-3.6%), TATA STEEL (-2.6%), HINDALCO (-2.5%), HIND. UNILEVER (-2.3%)
Markets @ 10:00
Sensex: 28,503, up 83 points; Nifty: 8,626, up 22 points
Top Gainers
INFOSYS LTD (9.5%), BHARTI AIRTEL (4.1%), WIPRO (2.8%), HERO MOTOCORP (1.0%), COAL INDIA (0.8%)
Top Losers
SUN PHARMA (-12.0%), VEDANTA LTD (-2.2%), LUPIN LTD (-2.2%), HIND. UNILEVER (-1.7%), ONGC (-1.5%)
Markets @ 9:40
Sensex: 28,428, up 8 points; Nifty: 8,606, up 2 points
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