Nifty Resume Decline After A Day’s Breather
How well the EQSIS recommendations performed today 29 July?
1. EQSIS Intra: Short MARUTI below 5619 Target 5565.3 Stop above 5662 CMP 5633
Closing Bell: Nifty Resume Decline After A Day’s Breather
The NSE Nifty 50 Index fell 95 points to shut shop at 11,189. Indian headline index nifty resumed their downward journey, after a day’s breather in Friday’s session, led by declines in auto, metal, pharma and banking shares. Meanwhile, selling of Indian shares by foreign institutional investors is also adding to the weak sentiment in markets.
All sectoral indices, except Nifty IT, ended lower for the day. The Nifty Auto index fell the most, down 3.6 percent after reports that the government has lowered the GST rate on electric vehicles to boost sales of electric vehicles.
Best And Worst Nifty 50 Performers Today
Market Update: Nifty Extend Losses Led By Declines In Auto, Metal Shares
The NSE Nifty50 slipped 115 points to 11,170. Indian equity benchmark index Nifty extended losses and plunged over 1 percent in the noon session on Monday, mainly dragged by auto, banking and metal stocks.
Vodafone Idea plunges 26%
Share price of Vodafone Idea touched 52-week low of Rs 7.30, down 26 percent on July 29 as company reported poor numbers for the quarter ended June 2019.
Morning Update: Nifty below 11,250 mark; Indiabulls Housing Finance, Bajaj Auto top losers
The NSE Nifty dropped by 40 points to trade at 11,243 levels. Equity benchmark NSE Nifty were trading marginally lower on Monday following weak cues from Asian peers amid sustained foreign fund outflow.
Meanwhile, Asian markets are lower today as markets await US Federal Reserve’s monetary policy decision this week.
Top percentage laggards on the 50-scrip index at the time were India bulls Housing Finance, Bajaj Auto, Hero MotoCorp, JSW Steel, Vedanta Tata Motors and Maruti Suzuki India, trading between 2.68 per cent and 8.18 per cent lower.
On the other hand, ICICI Bank, HCL Tech, Tech Mahindra, TCS, Infosys, IndusInd Bank, Kotak Bank HUL and Axis Bank were among the top gainers, rising up to 3.9 %.
Nifty Earnings To Watch
- Dr. Reddy’s Laboratories
- Bharat Electronics
- Castrol India
- Shriram City Union Finance
- Muthoot Capital Services
FII & DII data
The foreign institutional investors (FIIs) sold shares worth Rs 1503.26 crore on a net basis, while domestic institutional investors (DIIs) bought shares worth Rs 1917.52 crore as on July 26th 2019.
Earnings Reaction To Watch
Maruti Suzuki Ltd
- Total revenue grew to Rs 19733 crores in Q1 FY20, a decrease from Rs 22471 crores in Q1 FY20.
- Net profit after tax to Rs 1376 crores in Q1 FY20, a decrease from Rs 2015 crores in Q1 FY20.
- Earnings per share to Rs 45 in Q1 FY20, a decrease from Rs 66 in Q1 FY20.
- Total revenue grew to Rs 19812 crores in Q1 FY20, a decrease from Rs 20519 crores in Q1 FY20.
- Net profit after tax to Rs 1028 crores in Q1 FY20, a decrease from Rs 2366 crores in Q1 FY20.
- Earnings per share to Rs 4.2 in Q1 FY20, a decrease from Rs 9.9 in Q1 FY20.
Top News Of The Day
Adani Power Plans For Expansion
- Adani Group is planning invest Rs 5,500 crore over the next five years in power transmission and food processing sectors in Uttar Pradesh.
Cipla Bats For Ease Of Doing Business
- Homegrown drug major Cipla has urged the government to increase fund allocation for the healthcare sector, improve ease of doing business and formulate policies that aid the domestic pharmaceutical industry.