Thursday, 2 August 2018

Nifty below 11,300, Sensex down 200 points; PSU banks, metal, auto drag

Nifty Bank was down 0.5 percent led by ICICI Bank, Axis Bank, Yes Bank, SBI. While other losers are Hindalco, Tata Steel, Bajaj Auto, Tata Motors, Maruti Suzuki.

Buzzing: Shares of GPT Infraprojects rose more than 8 percent in the early trade on Thursday as company received an order worth Rs 362.16 crore.
Chief Project Manager – 1, Rail Vikas Nigam, Varanasi has awarded the project to the company, which will get completed in 24 months.
The project includes construction of roadbed, viaduct, major and minor bridges, RUBs, ROBs, track linking and general electrical works at both the approaches of rail cum road bridge at Ghazipur in connection with construction of new BG Line from Mau to Tarighat in Varanasi division of NE Railway and Danapur division of EC Railway in Uttar Pradesh.
The 38th annual general meeting of the company will be held on August 21, 2018.
Market Update: The benchmark indices extended their fall after lower opening. The Nifty slipped below 11,300 mark and Sensex also down over 200 points trading at 37,269.
Among the sectors, metal, PSU bank and auto are down over 1 percent.
Vedanta, Yes Bank, Tata Steel, Tata Motors, Maruti Suzuki are the top losers on the Sensex.
Buzzing: Shares of carbon and graphite product manufacturing company HEG rallied as much as 5 percent in the morning to hit a fresh record high of Rs 4,559.80 on Thursday after reporting stellar performance for the quarter ended June 2018.
The company posted profit at Rs 770.3 crore for the quarter against net loss of Rs 8.34 crore in same period last year, backed by growth across the board.
Revenue from operations during the quarter grew by 673 percent to Rs 1,587 crore compared to Rs 205.35 crore in corresponding period last year. The sequential growth in revenue was 23 percent.
Market Opens: The benchmark indices have opened lower with Nifty slipped below 11,350 and Sensex down over 100 points. Nifty PSU banks down 1% led by SBI, Syndicate Bank, Allahabad Bank, Canara Bank, Bank of India, Andhra Bank and Bank of Baroda.
The Sensex is down 132.87 points at 37,388, and the Nifty down 36.20 points at 11,310. About 533 shares have advanced, 558 shares declined, and 57 shares are unchanged. 
Nifty Bank was down 0.5 percent led by ICICI Bank, Axis Bank, Yes Bank, SBI. Other losers are Hindalco, Tata Steel, Bajaj Auto, Tata Motors, Maruti Suzuki.
On the other hand, ONGC, Indiabuylls Housing Finance, Lupin,  Sun Pharma, Coal India, Bharti Infratel, Infosys, TCS are among the major gainers.
Rupee Opens: The Indian rupee opened higher by 6 paise at 68.37 per dollar on Thursday versus previous close 68.43.
Rupee rose against the US dollar in the latter half of the session after the RBI considered raising rates by 25 bps but retained its neutral stance as it aimed to contain inflation while not choking growth. It’s the second straight meeting that RBI raised rates but retained its stance Neutral. While the RBI marginally trimmed its inflation projections for the current quarter, the central bank said its inflation projections beyond that remain broadly unchanged, said Motilal Oswal.
Today, USD-INR pair is expected to to quote in the range of 68.30 and 68.75, it added.
Market at pre-open: Equity benchmarks are set for flat start on Thursday morning in pre-opening rates, with the Nifty hovering around 11,350-mark and Sensex gained 100 points.
At 09:02 hrs IST, the Sensex is up 120.47 points at 37642.09, and the Nifty up 1.90 points at 11348.10.

1 comment:

  1. Nifty futures were trading around 11,322-level on the Singaporean Exchange.


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