Broader selloff drags Nifty below 11,100 mark
How well the EQSIS recommendations performed today 30 July?
1. EQSIS Intra: Short BAJAJ-AUTO below 2460 Target 2430 Stop above 2484 CMP 2462
Closing Bell: Broader selloff drags Nifty below 11,100 mark
The Nifty 50 index fell 103 points to settle at 11,085, its lowest closing level since 11 March 2019. Benchmark index nifty opened higher and hit fresh intraday high in early trade amid positive global cues. The barometers reversed trend and descended into negative in late morning trade due to steep selling pressure in banking, financial services, and auto sector shares.
All major sectoral indices except IT closed in the red while the Nifty PSU Bank index was the top underperformer, closing ~5% lower, followed by auto, metal, pharma and other banking indices.
Best And Worst Nifty 50 Performers Today
Market Update: Nifty flat in afternoon session
The Nifty was up by 10 points to trade at 11,204 levels, above its key level 11,200. Domestic equity benchmark index Nifty erased morning gains and hitting intraday low at 11,160 weighed by Auto, Metal and Banking stocks. The market breadth was tilted in favour of sellers about 1,243 stocks declined and 513 shares advanced on National Stock Exchange.
Morning Update: Nifty trade volatile; Pharma, IT, Banking stocks gain
The broader NSE Nifty were trading marginally higher by 29 points to 11,221 with 50 of its constituents led by Bharti Airtel, ICICI Bank, LT, Sun Pharma and Bajaj finance Service in the positive. Equity benchmark index nifty swung between gains and losses in the morning trade as gains were witnessed in banking, IT, and pharma stocks pushed the markets higher while Nifty Auto and Nifty PSU Bank indices were showing minor selling pressure.
Shares of Hero MotoCorp fell as much as 1.7 percent to Rs 2,362 ahead of the results announcement.
Nifty Earnings To Watch
- Axis Bank
- Hero MotoCorp
- Tech Mahindra
- Piramal Enterprises
- PNB Housing Finance
- Dish TV
- Bank of India
- United Bank of India
FII & DII data
The foreign institutional investors (FIIs) sold shares worth Rs 704.42 crore on a net basis, while domestic institutional investors (DIIs) bought shares worth Rs 1351.64 crore as on July 29th 2019.
Earnings Reaction To Watch
Castrol India Ltd
- Total revenue grew to Rs 1040 crores in Q1 FY20, an increase from Rs 1017 crores in Q1 FY20.
- Net profit after tax to Rs 183 crores in Q1 FY20, an increase from Rs 164 crores in Q1 FY20.
- Earnings per share to Rs 1.8 in Q1 FY20, an increase from Rs 1.6 in Q1 FY20.
Muthoot Capital Services Ltd
- Total revenue grew to Rs 144 crores in Q1 FY20, an increase from Rs 114 crores in Q1 FY20.
- Net profit after tax to Rs 14 crores in Q1 FY20, a decrease from Rs 18 crores in Q1 FY20.
- Earnings per share to Rs 8.7 in Q1 FY20, a decrease from Rs 11.2 in Q1 FY20.
Top News Of The Day
PNB Housing Finance Raise Capital
- PNB Housing Finance on Monday said it has raised USD 100 million (around Rs 690 crore) from International Finance Corporation (IFC), a member of the World Bank Group, to finance the purchase of affordable housing projects.
Mahindra Finance To Raise Capital
- Rural financier Mahindra Finance is planning to raise ₹26,000 crore through both short and long-term borrowings during the current fiscal.