Nifty snap six-day losing streak to close higher as auto, banking stocks lead gains

How well the EQSIS recommendations performed today 26 July?

1. EQSIS Intra: Long JUBLFOOD above 1191 Target 1204.8 Stop below 1180 CMP 1186

Status: Target

4:22:35 PM

Closing Bell: Nifty snap six-day losing streak to close higher as auto, banking stocks lead gains

The National Stock Exchange Nifty gained 32 points to finish at 11,284 levels. Indian headline index nifty reversed their six-session losing streak, helped by gains in auto, banking and pharma stocks However, weak corporate earnings, foreign fund outflow and negative global cues weighed on investor sentiment.

Yes Bank, Bajaj Finance, Bajaj Finserv, Eicher Motors, Bharti Infratel, Hero MotoCorp, Mahindra & Mahindra and Bajaj Auto were also among the gainers, up between 3 and 7.4 per cent each. On the flipside, Vedanta, Indian Oil, Bharti Airtel, HDFC, Tech Mahindra, Reliance Industries and GAIL India were among the losers.

Finally, during the week, NSE Nifty lost 1.1 percent.

Sectoral Performance

9:49:31 AM

Morning Update: Nifty Trades Flat Amid Weak Global Cues

The Nifty slipped 5 points to trade at 11,245 levels, below 11,250 levels. Benchmark index nifty were trading flat with a negative bias, taking cues from their Asian counterparts and extending their losses to a seventh session in a row.  Losses in information technology and metal stocks dragged the markets lower, however gains in select banking and auto shares provided some support.

Mahindra & Mahindra, Bajaj Finance Service, Yes Bank, Tata Motors and SBI contributed the most to the advances in Nifty, while IOC, Vedanta, Infosys and HDFC weighed the most. 

9:34:20 AM

Nifty Earnings To Watch

  • Bajaj Auto
  • Maruti Suzuki India
  • JSW Steel
  • Vedanta
  • Vodafone Idea
  • ABB India
  • Bajaj Holding & Investment
  • Punjab National Bank

9:29:44 AM

FII & DII data

The foreign institutional investors (FIIs) sold shares worth Rs 126.65 crore on a net basis, while domestic institutional investors (DIIs) bought shares worth Rs 398.53 crore as on July 25th 2019.

8:44:33 AM

Top News Of The Day

Bajaj Finance To Raise Capital

  • Bajaj Finance, the country’s most valued non-banking finance company (NBFC), plans to raise as much as $1.2 billion in a share sale to boost its capital. 

Patanjali To control Ruchi Soya

  • The NCLT  finally cleared the Rs 4,350-crore bid by Patanjali Ayurved to take over edible oil player Ruchi Soya, which owes over Rs 9,345 crore to the lenders & around Rs 2,800 crore to other creditors. 

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