Here are the key highlights from today's trading session:

1. Market ends at nearly 2-week low; Sensex & Nifty slip nearly 2% each

2. Financials contribute over 50% to Nifty's fall; Nifty Bank down over 3%

3. Nifty ends 195 points lower at 10,607, Sensex slips 660 points to 36,033

4. Midcap index falls 165 points to 15,052 & Nifty Bank 697 points to 21,392

5. 47 Nifty stocks close in the red; IndusInd, Axis Bank and Zee Entertainment top losers

6. Dr Reddy’s Laboratories, Titan & Bharti Airtel close higher in a weak trading session

7. Reliance Industries ends with a cut of over 1% ahead of the AGM tomorrow

8. Eveready Industries closes at upper circuit after Burmans raise holding by 8.5% to ~20%

9. Mindtree slips over 3% after Q1 earnings see a miss on revenue

10. Vodafone Idea falls 4% after TDSAT refuses to stay TRAI order

11. Market breadth favours declines; advance-decline ratio at 2:7

Jul 14, 2020 3:47 PM

Closing Bell: Market ends 650 points lower led by banks, auto, metals; IndusInd Bank top loser

The Indian equity benchmark indices Sensex and Nifty ended the day lower Tuesday dragged by heavy selling in banks, metals, auto and realty stocks.

At close, the Sensex ended 661 points lower to 36,033 while the Nifty50 index ended at 10,607, down 195 points. Broader markets also reeled under pressure with Nifty Midcap and Nifty Smallcap indices falling nearly 1.5 percent each.

Barring Pharma, all other Nifty sectoral indices traded in the red and upto 3 percent lower.

IndusInd Bank and Axis Bank were the top Nifty losers with over 5 percent fall followed by Eicher Motors, Zee Entertainment and Adani Ports. Dr Reddy's Laboratories, Titan and Bharti Airtel were the only ones in the green, in Nifty50 index.

Jul 14, 2020 3:34 PM

Uday Kotak sees Rs 4-5 lakh crore peak NPAs from COVID-19

Veteran banker Uday Kotak has warned of a sharp spike in non-performing assets of the financial services sector, saying he wouldn’t rule out loan losses of Rs 4-5 lakh crore arising from the COVID-19 pandemic.

He added that he would watch for signs of recovery in the most-affected sectors and job stability very closely to gauge the health of the financial sector.

Speaking to CNBC-TV18, Kotak estimated that banks would need to be capitalised to the extent of Rs 2-3 lakh crore, explaining that the recent fund-raising spree by banks was a step in this direction. Read more

Jul 14, 2020 3:28 PM

MF June review: Top changes in sector and stock allocations of funds

MF June review: Top changes in sector and stock allocations of funds. Get latest Personal Finance online at cnbctv18.com

Jul 14, 2020 3:18 PM

Just In | Guardian Advisors acquires an additional 8.48 percent stake in Eveready Industries. Guardian Advisors now holds 19.84 percent stake in the company. Guardian Advisors is a portfolio management firm, managing investments for Burmans.

Jul 14, 2020 3:01 PM

Dilip Buildcon declared lowest bidder for NHAI project worth Rs 1,900 crore

The company through its joint venture i.e Dilip Buildcon Limited -HCC (JV) has been declared as L-1 bidder for the tender floated by the National Highways Authority of India for the project worth Rs 1,900 crore.

Jul 14, 2020 2:55 PM

Rupee Update: The Indian currency ended weak today due to negative sentiment in the equity market. The rupee ended at 75.43 against the US dollar as compared to Monday's close of 75.19. This is the biggest fall in the market this month.

Jul 14, 2020 2:32 PM

Jul 14, 2020 2:21 PM

Dr Reddy's Laboratories' shares gain over 1% on new launch

Dr Reddy's Laboratories share price gained over a percent on Tuesday after it announced the launch of the over-the-counter (OTC) Nicotine Polacrilex Lozenges in the US market.

The lozenges had total retail sales of nearly $200million for the recent 12-months ending May 2020. "This launch truly demonstrates our ability to deliver on more complex dosage forms for the benefit of consumers who wish to quit smoking by reducing withdrawal symptoms, including nicotine cravings," added the company's exchange filing.

At 1:50 pm, the shares traded 1.14 percent higher to Rs 3,943.90 apiece on the NSE.

Jul 14, 2020 2:00 PM

June SIAM Update: Passenger vehicle sales in India declined by 49.59 percent in June to 1,05,617 units as against 2,09,522 units in the same month last year as the sector looks to recover from the coronavirus pandemic-induced lockdown, auto industry body SIAM on Tuesday said.

According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales were also down 38.56 percent at 10,13,431 units as compared to 16,49,475 units in the same month last year.

Motorcycle sales were at 7,02,970 units as against 10,84,596 units in June 2019, down 35.19 percent. Scooter sales were also down 47.37 percent at 2,69,811 units as against 5,12,626 units in the same month last year.

Jul 14, 2020 1:47 PM

Telecom Disputes Settlement and Appellate Tribunal (TDSAT) refuses to stay TRAI order directing discontinuation of premium plan.

TDSAT allows TRAI time to file reply to Vodafone Idea’s plea challenging TRAI directions. Case likely to be heard on July 16.

Jul 14, 2020 1:26 PM

European markets retreat as coronavirus spike weighs on sentiment

European stocks opened lower Tuesday as a spike in coronavirus cases starts to weigh on global market sentiment, reported CNBC International.

The pan-European Stoxx 600 dropped 1.1 percent at the start of trading, while other major bourses slid into negative territory.

European markets look set to follow their global counterparts lower Tuesday with virus cases spike in a number of countries around the world. On Monday, World Health Organization Director-General Tedros Adhanom Ghebreyesus warned that “too many countries are headed in the wrong direction.”

“In several countries across the world, we are now seeing dangerous increases in Covid-19 cases, and hospital wards filling up again,” Tedros said. “It would appear that many countries are losing gains made as proven measures to reduce risk are not implemented or followed.”

Jul 14, 2020 1:14 PM

Citi downgrades BHEL to Sell; stock price tanks over 9%

Shares of Bharat Heavy Electricals (BHEL) tanked 9.5 percent on Tuesday after global research house Citi downgraded the stock to Sell from Neutral with a target at Rs 34 per share.

The stock declined 9.5 percent to hit an intraday low of Rs 38.50 per share in the BSE. The stock price has surged over 118 percent from its 52-week low of Rs 19.20 hit on March 25, 2020. At 11:05 am, shares were trading 8.5 percent lower at Rs 38.90 as against a 1.6 percent fall on Sensex.

According to Citi, after a recent sharp rally, BHEL is trading at ~0.5x P/BV which appears unappealing given 4 percent RoE and risks to cash flows and profits.

It said that the high receivables continue to pressure the cash flows, while success in new areas will take time.

Jul 14, 2020 12:55 PM

June WPI inflation at -1.81% Vs -3.21% (MoM)

Jul 14, 2020 12:39 PM

Stock Update: Phoenix Mills' shares slipped over 3 percent on Tuesday for the second consecutive day after the company announced that the Board of Directors have approved raising of funds via NCDs, equity shares issue or any other option on a preferential basis. The fund raise will not exceed Rs 1,100 crore, said company's exchange filing. It further added that the company will issue maximum of 15.62 lakh equity warrants, convertible into a maximum of 15.62 lakh shares with Rs 2 face value worth Rs 100 crore. The stock price fell as much as 3.54 percent to Rs 571.65 on the NSE.

Jul 14, 2020 12:32 PM

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