Sensex ends 73 pts lower; Nifty holds above 10K; Dr Reddy's cracks 6%
There are signs that investors have started taking some profit off the table. Asian stock markets sagged on Friday after US tech shares retreated from recent rallies. It seems, all of this has set up Dalal Street for a slow day ahead. Watch this space as we bring you LIVE updates of the proceedings from Dalal Street.
1 New Update
04:52:19 PM IST, 28 July 2017
CLOSING BELL: SENSEX ENDS 73 PTS LOWER
BSE Sensex ended the session 73 points or 0.23 per cent lower at 32,309, snapping its 5-day gaining streak while Nifty50 was at held above the 10,000 mark closing at 10,014.50, down 6 points or 0.6 per cent.
03:22:37 PM IST, 28 July 2017
MARKET PARES MOST LOSSES, HDFC INFY TOP GAINERS
03:10:24 PM IST, 28 July 2017
$4.5 TRILLION INVESTMENT TALK CREATES A SOLID TURF FOR MULTIBAGGER HUNTERS
The Indian infrastructure sector is a $4.5 trillion investment opportunity by 2040. And that is still a very modest estimate. In the stock market, value investors are taking a serious look in this space to hunt for potential multibaggers. With the domestic equity indices hovering at lifetime high levels, investors are at a loss, trying to figure out stocks that still have some steam left in them.
02:21:49 PM IST, 28 July 2017
THESE STOCKS DEFY MARKET SENTIMENTS TO SURGE UP TO 20%
Shrugging off the prevailing negativity in the broader markets, stocks such as Jigar Cables (up 20 per cent), Amarjothi Spinning Mills (up 19.99 per cent) and Deccan Gold Mines (up 19.91 per cent) surged up to 20 per cent on BSE in Friday's trade.
01:54:13 PM IST, 28 July 2017
THESE STOCKS CRACKED UP TO 10% TODAY
Shares of Alora Trading Company (down 9.95 per cent), Kanco Enterprises (down 8.54 per cent), H K Trade International (down 8.54 per cent), Velan Hotels (down 8.38 per cent), Gujarat NRE Coke (down 8.24 per cent) and Bronze InfraTech (down 8.11 per cent) cracked up to 10 per cent on NSE in Friday's trade amid a subdued market.
01:20:10 PM IST, 28 July 2017
RELIANCE ADAG STOCKS ON THE MOVE, SURGE UP TO 8%
Shares of Reliance Anil Dhirubhai Ambani Group (ADAG) companies surged up to 8 per cent in trade on Friday. Reliance Capital advanced as much as 8.27 per cent after the company on Thursday posted a 15 per cent rise in consolidated net profit at Rs 238 crore for the quarter ended June 30, 2017 against Rs 207 crore in the year-ago period.
12:57:05 PM IST, 28 July 2017
KARACHI INDEX DOWN OVER 700 PTS
The country's benchmark index tanked after Pakistan’s Supreme Court disqualifies Prime Minister Nawaz Sharif from office.
12:29:26 PM IST, 28 July 2017
NATIONAL FERTILIZERS FALLS FOR THE FOURTH STRAIGHT SESSION
Shares of National Fertilizers fell in friday's trade, extending its losing steak to the fourth consecutive session after the government kicked off a two-day offer for sale (OFS). The stock shed 1.96 per cent to Rs 69.85 on BSE. It opened at Rs 69.50 and touched an intraday high and low of Rs 70.10 and Rs 69.30, respectively.
12:03:23 PM IST, 28 July 2017
BIOCON SHARES FALL 3% ON POOR Q1 SHOW
Shares of Biocon fell over 3 per cent in Friday's trade after the pharma company reported a 51.20 per cent decline in its consolidated net profit to Rs 81.3 crore for the quarter ended June 30, on account of weakening of the US Dollar and GST impact. Following the development, the stock shed 3.22 per cent to Rs 386.25 on BSE.
11:50:02 AM IST, 28 July 2017
ICICI BANK FALLS ON 8% DECLINE IN Q1 NET PROFIT
Shares of ICICI Bank fell in Friday's trade after the bank after the private sector lender on Thursday reported 8.21 per cent year-on-year fall in net profit at Rs 2,049 crore for the quarter ended June 30, 2017. Following the development, the stock shed 2.13 per cent to Rs 300.50 on BSE. It opened at Rs 303.70 and touched an intraday high and low of Rs 304 and Rs 298.05 respectively.
11:28:54 AM IST, 28 July 2017
OVER 20 STOCKS HIT FRESH 52-WEEK LOW IN TODAY'S TRADE
FCS Software, Salasar Techno Engineering, Mandhana Industries, Gemini Communication, Cambridge Tech, Bhagyanagar Properties, Ajanta Pharma, REI Agro, Dynemic Product, Prakash Steel and KSS were among the stocks that hit their fresh 52-week low.
10:50:52 AM IST, 28 July 2017
IDEA CELLULAR PLUNGES 5% POST Q1 RESULTS
Shares of telecom operator Idea Cellular slipped over 5 per cent in early trade on Friday after the company on Thursday posted a loss of Rs 815.9 crore in the first quarter ended June 30.
09:55:44 AM IST, 28 July 2017
DECCAN GOLD MINES SURGES 20% ON TALK OF ACQUISITION BY VEDANTA
Shares of Deccan Gold Mines (DGML) advanced as much as 19.90 per cent in early trade after reports that Vedanta has initiated talks with South India-based DGML to acquire a controlling stake in the company as it seeks to get a bigger foothold in the new segment of precious metal mining in the country.
09:43:57 AM IST, 28 July 2017
RUPEE SLIPS 10 PAISE AGAINST US DOLLAR TO 64.21
The rupee was trading nearly 10 paise down at 64.21 against dollar in early trade on account of buying of American currency by banks and importers. Rupee opened 8 paise down at 64.19 against the US currency.
09:26:34 AM IST, 28 July 2017
<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">Those betting on RBI rate cut next week might be negatively surprised given food products price spike plus Oil rally.</p>— sandip sabharwal (@sandipsabharwal) <a href="https://twitter.com/sandipsabharwal/status/890781019980410881">July 28, 2017</a></blockquote>
09:18:08 AM IST, 28 July 2017
OPENING BELL: SENSEX SHEDS NEARLY 200 PTS
Sensex sheds nearly 200 pts; Nifty slips below 10K; Dr Reddy's cracks 5%, Biocon 4%; ITC up 1%. Read more
09:09:37 AM IST, 28 July 2017
PRE-OPEN SESSION: NIFTY HOVERS AROUND 10,050
Sensex up over 70 points; Nifty hovers around 10,050; Rupee opens at 64.19 against US dollar.
08:55:30 AM IST, 28 July 2017
GOLD PRICES ON TRACK FOR THIRD WEEKLY GAIN
Spot gold rose 0.2 per cent to $1,260.50 per ounce at 0033 GMT. It was on track for a small weekly gain, which would give the precious metal its best sustained weekly rally since May. US gold futures for August delivery held steady at $1,259.90 per ounce.
08:52:04 AM IST, 28 July 2017
OIL PRICES NEAR 8-WEEK LOW
Oil prices extended a rally into a sixth day on Friday, hovering near 8-week highs on a decline in US inventories and OPEC's ongoing efforts to curb production to ease a global glut. Brent crude futures were up 2 cents, or 0.04 per cent, at $51.51 per barrel at 0059 GMT.
08:51:32 AM IST, 28 July 2017
DOLLAR INDEX REMAINS FLAT
The dollar stalled against its major peers on Friday, its mild bounce earlier petering out ahead of the second quarter US economic growth data due later in the session. The dollar index against a basket of six major currencies was flat at 93.872 after edging up 0.2 per cent the previous day.
08:52:28 AM IST, 28 July 2017
ASIAN SHARES FALL
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4 percent in early trade, with Samsung Electric, Asia's largest company by market capitalisation, dropping 2.0 per cent. Japan's Nikkei shed 0.3 per cent.
08:53:36 AM IST, 28 July 2017
NIFTY TECHNICAL CHARTS
The index made a candle pattern similar to Shooting Star on the daily chart, even as the index made another day of higher lows. Experts do not rule out possibility of a minor correction going ahead. A shooting star is generally formed in an uptrend. In such a candle, upper shadow remains twice as big as its real body.
08:56:02 AM IST, 28 July 2017
KEY EARNINGS TO WATCH OUT FOR
Construction and engineering major Larsen & Toubro, tractor maker Escorts, NBFC Equitas Holdings, cement maker India Cements, and some other companies such as NIIT and Zuari Agro Chemicals will annnounce their quarterly earnings on Friday.
08:52:42 AM IST, 28 July 2017
NIFTY OI LOWEST IN 2017
Analysts noted that Nifty open interest )OI) at present is lowest since the start of calendar year 2017, which indicates majority of the longs formed the rally seen in last seven series have been lightened. Throughout July series, FIIs formed short positions in index futures; out of which hardly 23 per cent of the positions were rolled to August series, Angel Broking said.
08:57:12 AM IST, 28 July 2017
NIFTY MAY SEE 400-500 POINTS FALL IN AUG SERIES
Edelweiss Securities in a note said, "We don’t rule out a 400-500 points decline in the benchmark index in the coming series. Risk to our call will be higher than anticipated rate cut (50bps against our expectation of 25bps) in the impending policy review."
08:52:51 AM IST, 28 July 2017
MARKET-WIDE ROLLOVERS AT 77%
Market-wide rollovers stood at 77 per cent, which were in line with rollovers seen in the last three series. Nifty rollovers stood at 68 per cent, which were lower compared to the average rollovers of 71 per cent in the last three series.
08:53:02 AM IST, 28 July 2017
US STOCKS ENDED MIXED
The Dow Jones Industrial Average index rose 85.54 points, or 0.39 per cent, to 21,796.55. The S&P500 index lost 2.41 points, or 0.10 per cent, to 2,475.42. The Nasdaq Composite index dropped 40.56 points, or 0.63 per cent, to 6,382.19.
08:53:51 AM IST, 28 July 2017
SENSEX ON THURSDAY
The BSE Sensex and the NSE Nifty50 shed 1 per cent in each, in the last hour of trade to end the day flat on Thursday after gains in banking stocks such as HDFC Duo, Kotak Mahindra Bank and SBI were offset by selling in index heavy weights such as Infosys (down 2.16 per cent), ITC (down 1.62 per cent) and RIL (down 1.45 per cent).
08:40:12 AM IST, 28 July 2017
Good morning, dear reader! Here’s something to kickstart your trading day
