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Closing Bell
Equity benchmark Sensex ended over 200 points and the Nifty has lost 70 pointson Monday dragged by losses in index-heavyweights Axis Bank, Tech Mahindra, SBI, L&T, IndusInd Bank, Bajaj Finance ICICI Bank and Infosys amid negative cues from global markets.
The 30-share index ended 209.75 points, or 0.60 per cent, lower at 34,961.52, while the NSE Nifty fell 70.60 points, or 0.68 per cent, to end at 10,312.40.
Axis Bank was the top loser in the Sensex pack, dropping around 5 per cent, followed by Tech Mahindra, IndusInd Bank, ICICI Bank, SBI, L&T and Infosys.
On the other hand, Hindustan Uni Leve, ITC, Sun Pharma, M&M, Bharti Airtel and Kotak Bank were among the gainers.
Earlier, equities opened lower on weak global cues as trade tensions and International Monetary Fund downgrade dented investors' confidence in the global recovery owing to surge in Coronavirus cases.
The Sensex touched a low of 34,662, shedding nearly 509 points on the back of heavy selling pressure on weak global equities stemming from concerns over rising Covid-19 cases.
2.30 pm
Andhra Paper shares lock in 20% upper circuit
Andhra Paper share price locked in 20 per cent upper circuit today after SBI Mutual Fund purchased 31.33 lakh shares or 7.87% of total equity stake in the company. The stock was quoted at Rs 254.85, up by Rs 42.45, or 20 per cent on the NSE today.
SBI Mutual Fund has purchased 31.33 lakh shares under the offer for sale by the promoters, according to the company's release to the BSE.
On June 26, Bright Star Investments acquired 1.25 per cent equity stake in Andhra Paper via open market transactions.
Bright Star bought 5 lakh shares in the company at Rs 206.23 per share, the bulk deals data showed on the National Stock Exchange.
According to the release to the NSE on June 25, International Paper Investments (Luxembourg) S.a.r.l has informed the Exchange about an announcement with respect to offer for sale through Stock Exchange Mechanism for sale upto 39,77,004 Equity shares of face value of INR 10/- each of Andhra Paper Limited. The Floor Price for the Offer was fixed at Rs 186 per share.
Sensex Stocks
Mid-session
Domestic equity markets has turned slightly volatile in the mid-session. The Sensex traced back nearly 280 points, could be due to short covering, from the day's lows of 34,662 levels attaomed in the morning session.
Sensex is still trading in the negative, and at 1 pm, the BSE benchmark was quoted at 34,927.81, down by 243.64 points from its previous close.
On the NSE, the Nifty too bounced back from the lower levels at 10,223, before being quoted at 10,309.95, down by 73.05 points from yesterday's closing level.
NIFTY CHART
NSE GAINERS AND LOSERS
12.50 pm
Shares of Hindustan UniLever went up nearly 1.50 per cent on the bourses today after a report that the company has completed the acquisition of VWash brand from Glenmark.
The HUL stock was quoted at Rs 2,187.90, up by Rs 33.45, or 1.50% on the BSE. Volumes traded in the counter were about 1.51 lakh shares as against the two-week average quantity of 1.23 lakh shares.
The Hindu BusinessLine reported that the company has completed the process of the acquisition of intimate hygiene brand VWash from Glenmark Pharmaceuticals.
This acquisition was announced on March 23, 2020 and was subject to certain closing conditions, which have now been fulfilled. VWash was launched by Glenmark in 2013 and the brand has established itself as the market leader in the female intimate hygiene categor y backed by strong product proposition, consumer endorsements and brand building investments.
HUL has acquired intellectual property rights including trademarks, design and know-how related to the VWash brand worldwide. With this cquisition, HUL can unlock significant synergies and scale up the brand by building awareness, driving penetration, leveraging distribution and enhance offering for chemist channel.
TOP LOSERS ON NSE
TOP LOSERS ON NSE
NIFTY SECTORAL INDICES
NIFTY SECTORAL INDICES
Grenade attack on Pakistan Stock Exchange, 2 killed
At least two persons were killed and three others injured in a grenade attack near the Pakistan Stock Exchange on Monday, media reports said.
Sindh province Governor Imran Ismail condemned the incident.
“Strongly condemn the attack on PSX aimed at tarnishing our relentless war on terror. Have instructed the IG & security agencies to ensure that the perpetrators are caught alive & their handlers are accorded exemplary punishments. We shall protect Sindh at all costs,” he said on Twitter.
Police have arrived on the spot and surrounded the area. - PTI
IndianOil Corp shares slide on Q4 results
Shares of IndianOil slipped nearly 3 per cent on the BSE today after the public sector oil firm reported consolidated net loss for the fourth quarter of financial year 2019.20.
On the BSE, the stock was quoted at 86.55, down by Rs 2.55 or 2.85% from its prevous close
IndianOil Corporation Limited (IOCL) has reported an ₹8,565.54 crore consolidated net loss for the fourth quarter of financial year 2019-20.
The company had reported a consolidated net profit of ₹6,003.96 crore in the same quarter of financial year 2018-19.
The losses are on account of a fall in demand for petroleum products and drop in crude oil prices, due to Covid-19 induced economic slowdown.
Consolidated total income for the period under review stood at ₹1,43,620.13 crore, down from ₹1,48,242.75 crore in the same period of the previous financial year.
Coal India shares dip 3.50% on Q4 earnings report
Coal India shares declined sharply today after the public sector company reported drop in net profit and revenue for the quarter ended March 31, 2020.
The CIL stock declined BY Rs 5.15 or 3.63% to 136.65 on the BSE.
Coal India Ltd posted a 23 per cent drop in consolidated net profit to ₹4,626 crore for the quarter ended March 31, 2020, as compared with ₹6,026 crore same period last year.
Revenue from operations witnessed a near four per cent drop to ₹27,568 crore during the quarter under review, as compared with ₹28,585 crore same period last year.
For the year ended March 31, 2020, net profit dropped by nearly four per cent to ₹16,700 crore (₹17,464 crore). Revenue from operations was down by four per cent at ₹96,080 crore (₹99,586 crore).
Weekly trading guide: RIL retains upward bias
SBI (₹184.6)
The stock of SBI, which opened on a positive note last week, faced a hurdle at ₹192 – the 23.6 per cent Fibonacci retracement level of the previous downtrend.
NBFC STOCKS ON BSE
NBFC stocks on BSE
NBFC ratings cut at S&P as Covid-19 pandemic worsens liquidity woes
Credit scores of several non-banking financial companies (NBFCs) were downgraded by S&P Global Ratings due to liquidity risks amid the pandemic-induced economic downturn.
The rating company cut state-owned Power Finance Corp and Bajaj Finance Ltd into junk territory, according to a statement dated Friday. Shriram Transport Finance Co Ltd and Manappuram Finance Ltd were lowered deeper into non-investment grade.
Asian stocks wary as coronavirus threatens economic reopening
Asian share markets began the week with a cautious tone on Monday as the relentless spread of the coronavirus finally made investors question their optimism on the global economy, benefiting safe harbour bonds and the US dollar.
Banking, Financail stocks pull down markets
Domestic equity markets fell on Monday, dragged by weakness in banking, IT and financial stocks, as a jump in coronavirus cases threatened the reopening of the economy, dimming hopes of a quick recovery.
The BSE benchmark Sensex lost 286.95 points at 34,884.31. It ended on Friday at 35,171,27
On the NSE, the Nifty 50 index fell 91.30 points or 0.90% to 10,291.70.
Asian equities fell today followiing increase in Covid cases across globe amid its impact on ecocomies. Nikkei was down 2.20 per cent and Hang Seng was lower by 1.60%.
Covid-19 cases in India jumped by a record 19,459 to 548,318 as of Monday morning, with the death toll rising to 16,475, according to latest health ministry data.
The global death toll reached half a million people on Sunday, according to a Reuters tally.
Maharashtra was set to extend for a month the lockdown to contain the spread of the virus.
Diesel price on Monday scaled a new high after prices were hiked for the 22nd time in just over three weeks, taking the cumulative increase to Rs 11.14 per litre.
Petrol price was increased by 5 paise per litre and diesel 13 paise a litre across the country, according to a price notification of state oil marketing companies.
In Delhi, a litre of petrol now comes for Rs 80.43 per litre as compared to Rs 80.38 earlier. Diesel rates have been increased to Rs 80.53 per litre from Rs Rs 80.40.
Rates vary from state to state depending on the incidence of local sales tax or VAT.
In Mumbai, petrol price went up from Rs 87.14 per litre to Rs 87.19, while diesel was hiked to Rs 78.83 from Rs 78.71.
While the diesel rates have been hiked for the 22nd time since June 7, petrol price has been raised on 21 occasions.
There was no change in prices on Sunday. - PTI
BSE Sectoral Indices
Consider short strangle on Reliance Industries
The stock of Reliance Industries is ruling strongly in uncharted territory. The long-term outlook for Reliance Industries will remain positive as long as it rules above ₹1,408. The stock finds an immediate support at ₹1,617 and the next one at ₹1,537. If the current bullish trend sustains, Reliance Industries stock could cross the crucial ₹2,000-mark. However, we expect the stock to move in a narrow band with a negative bias
Oil prices drop as coronavirus spike cools demand hopes
Oil prices slid for a second straight session on Monday as coronavirus cases rose in the United States and other places, leading countries to resume partial lockdowns that could hurt fuel demand.
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