Market Highlights: Nifty ends at 11,100, Sensex closes 335 points lower; HDFC twins drag indices lower

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Updated: July 30, 2020 4:29:14 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic benchmark indices gave up all gains and turned negative on Thursday as volatility spiked yet again.

Share Market Today, Share Market LiveVolatility spiked yet again as Sensex and Nifty dived from the day’s high. India Vix gained 3.5%.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic benchmark indices saw a volatile trading session as they gave up all gains and ended deep in the red. Sensex closed down 335 points or 0.88% while the Nifty 50 ended just above the 11,100 mark. Sun Pharma was the top gainer, up 3.44%. It was followed by Maruti and Infosys. Down in the red, IndusInd Bank was the worst performing stock, followed by HDFC and Axis Bank. Volatility was up 3.28%. All sectoral indices ended with loses, except Nifty IT and Nifty Pharma.

The US Federal Reserve did not change its benchmark interest rates but vowed to help the economy with all tools at its disposal. “The Committee will continue to monitor the implications of incoming information for the economic outlook, including information related to public health, as well as global developments and muted inflation pressures, and will use its tools and act as appropriate to support the economy,” it said in a statement. The Federal Reserve said that it will increase its holdings of Treasury securities and agency residential and commercial mortgage-backed securities, in an effort to sustain smooth market functioning.

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    16:28 (IST)30 Jul 2020
    Sensex, Nifty fall for second-straight day; HDFC, IndusInd Bank slip the most, Sun Pharma shares gain

    Sensex and Nifty started the day with gains but bears were again seen controlling the market movement sending the indices deep in red. Sensex closed down 335 points or 0.88% while the Nifty 50 ended just above the 11,100 mark. “We were unsuccessful in closing above the 11300 level. Instead, we dropped and tested the 11100 support level. 11000-11100 is going to be a crucial zone for the markets. A bounce from these levels should take the markets back to 11300-11400 but if we break 11000 on closing, we could see a further slide which could take the markets to 10800,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

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    16:20 (IST)30 Jul 2020
    Revenue fall 19% for JM Financial

    JM Financial’s consolidated revenue decreased by 19.32% and consolidated net profit decreased by 26.46% for Q1 FY21. 'Our total loan book stood at Rs. 10,833 crore as of June 30, 2020 compared to Rs. 13,926 crore as of June 30, 2019. Gross NPA and Net NPA stood at 1.80% and 1.22% respectively as of June 30, 2020 compared to 0.90% and 0.80% respectively as of June 30, 2019. We have made additional gross provisions of Rs. 66 Cr # on account of the uncertainties around COVID-19 for the quarter ended June 30, 2020, thereby taking the total provisions to Rs 241 crore on account of the pandemic,' JM Financial said in a release. 

    15:06 (IST)30 Jul 2020
    HDFC reports 15% jump in consolidated net profit as income surges; standalone PAT falls 5%

    HDFC, India’s largest mortgage lender reported a 15% jump in consolidated net profit to Rs 4,058 crore in the April-June quarter as total income rose to Rs 29,959 crore against Rs 23,239 crore in the same period last year. 

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    14:19 (IST)30 Jul 2020
    HDFC reports 5% fall in net proft

    India's largest mortauge lender HDFC on Thursday reported a 5% in net profit to Rs 3,051 crore, down from Rs 3,203 crore in the same period last year. HDFC shares were down 2.6% on Sensex.

    13:49 (IST)30 Jul 2020
    Bharti Airtel down 3%

    Telecom giant Bharti Airtel slipped 3% on Thursday as investors reacted the almost Rs 16,000 crore net loss reported by the company on account of higher provisions. Sensexslipped into the red.

    13:12 (IST)30 Jul 2020
    Maruti Suzuki fails to sell cars as customers sat home; is it time to sell the auto giant’s stock?

    Automobile giant Maruti Suzuki’s share price surged 3% on Thursday morning despite reporting a net loss of Rs 249 crore in the April-June quarter, marred by the lockdown. Sales tanked 81% on-year basis in the wake of the nation-wide lockdown which forced Maruti Suzuki to shut its stores for the entire month of April. Unable to sell cars, the estimates for this fiscal and the next have taken a hit. Analysts believe that Maruti Suzuki will battle it to protect its market share as customer preferences change in the automobile industry. Maruti Suzuki shares were trading at Rs 6,360 per share on Thursday morning.

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    12:36 (IST)30 Jul 2020
    Buy Colgate Palmolive ~ Emkay Global

    Colgate’s Q1 performance was better than most peers, with sales declining 4% to Rs 10.4bn, in line with our expectations above the consensus. EBITDA/PAT growth of 3%/17% came in ahead of estimates on lower ad spends. Colgate seems well placed vs. most peers; the oral care category is the least affected by the pandemic. Management’s growth initiatives, along with weakening competition, may lead to market share recovery. Maintain Buy with a revised TP of Rs 1,590 from Rs 1500 earlier. ~ Emkay Global

    11:33 (IST)30 Jul 2020
    Mindspace Business Parks REIT IPO subscribed 13 times; NRIs and HUFs led bidding tally

    Mindspace Business Parks REIT initial public offering (IPO) was received with open hands by investors, subscribing the issue 12.96 times at the end of bidding on Wednesday. The real estate investment trusts IPO opened for subscription on July 27 and closed on July 29. Mindspace aimed to raise Rs 4,500 crore from the issue, which included a fresh issuance of Rs 1,000 crore and an offer for sale for Rs 3,500 crore. Mindspace Business Parks REIT is jointly owned by K Raheja Corp and private equity firm Blackstone.

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    10:24 (IST)30 Jul 2020
    Sensex, Nifty march higher on Thursday morning; HCL Tech, Infosys, TCS top gainers on Dalal Street

    Sensex and Nifty gained on Thursday morning after hitting the breaks during Wednesday’s trade. The 30-stock BSE Sensex was trading with gains of over 200 points while the Nifty 50 was inching higher to reach the 11,300 mark. “For the day, investors should concentrate on support levels of 11110 as a stop loss to the long position. In case of penetration of the same one should exit long and wait for 11050 to get broken for building short. Short term or swing traders should trade with strict stop loss and follow risk management principles,” said Vishal Wagh, Head of Research, Bonanza Portfolio. 

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    09:42 (IST)30 Jul 2020
    Charts suggest slightly negative uptrend for Nifty; two stock with potential upside in near-term

    After showing upside breakout of sideways range at 11240 levels on Tuesday, Nifty slipped into weakness on Wednesday and closed the day lower by 97 points. A reasonable negative candle was formed with a new swing high formation at 11341.40. Technically, this pattern signal negation of upside breakout attempt of previous session. 

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    09:02 (IST)30 Jul 2020
    Nifty set to open with flattish

    "Nifty set to open with flattish to positive on expiry day on the back of the mixed back global market. US market ended the day in green but futures are trading with small cuts. Asian markets are a mixed bag. Big boy Reliance is coming with the result today with another index major HDFC so there will be stock specific position built-up in these two counter can be seen," said Vishal Wagh, Head of Research, Bonanza Portfolio.

    08:42 (IST)30 Jul 2020
    Photography giant Kodak carves out new business unit for manufacturing drugs, shares sky-rocket 2,441%

    Shares of Eastman Kodak Co. have leapt 2,441% higher this week, sending its market valuation to nearly $2 billion, after it won a government loan to help produce ingredients used in key generic medicines to fight the coronavirus.

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    08:10 (IST)30 Jul 2020
    New 10-year benchmark bonds to be auctioned on Friday

    The government will auction the new 10-year benchmark bonds, maturing in 2030, on Friday. According to dealers, this is likely to see a premium of about seven-10 basis points over the yield on the current benchmark bonds. The new benchmark bonds auction comes just two-and-a-half months after the current benchmark bonds were introduced in May.

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    08:09 (IST)30 Jul 2020
    SEBI extends result submission deadline

    The market regulator has extended the deadline to submit quarterly results for the first quarter of this fiscal till September 15. The move comes as a breather for firms that have been struggling to compile their quarterly results in the wake of the coronavirus and the resultant lockdowns. 

    08:07 (IST)30 Jul 2020
    RIL to announce its quarterly results today

    Mukesh Ambani's Reliance Industries will be announcing its April-June quarter results today. The earnings season has so far been better than expected and has helped lift the benchmark indices higher. Eye will be on how Reliance Industries managed the lockdown in terms of operations. The company did report almost all its deals for Jio Platforms during the quarter.

    08:04 (IST)30 Jul 2020
    US Fed keeps rates unchanged

    The Federal Reserve has kept interest rates unchanged but has vowed support, using other tools at its disposal. "The path of the economy will depend significantly on the course of the virus. The ongoing public health crisis will weigh heavily on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term. In light of these developments, the Committee decided to maintain the target range for the federal funds rate at 0 to 1/4 percent. The Committee expects to maintain this target range until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals," the FOMC statement said. 

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