Here's how the Indian indices performed this week

1. Market gains for 5th consecutive week; Sensex & Nifty up 1.2% each

2. Nifty Bank snaps 4-week gaining streak, slips 1.9% this week

3. Midcap Index flat, Nifty IT top gaining index this week

4. BPCL, Wipro, Infosys, Cipla & HCL Technologies top gainers this week

5. Zee Entertainment, Adani Ports, Power Grid top losers this week

Jul 17, 2020 4:05 PM

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

1. Sensex & Nifty at over 4-month high; Friday's gains help market turn negative for week

2. Sensex & Nifty gain 1.5% each, Nifty Bank up nearly 2%

3. Nifty advances 162 points to 10,902 & Sensex 568 points to 37,020

4. Midcap Index gains 209 points to 15,242 & Nifty Bank 370 points to 21,967

5. Except IT, all sectoral indices close in the green; oil & gas top gaining index

6. 41 Nifty stocks close with gains; 4 of top 5 gainers are from oil & gas space

7. BPCL, ONGC, Bharti Infratel, GAIL, Reliance Industries & HDFC Bank top Nifty gainers

8. Reliance Industries, HDFC Bank & ICICI Bank contribute 108 points to Nifty move today

9. Britannia closes 2% lower despite reporting earnings better than estimates

10. HCL Technologies nearly 1% lower after reporting weak revenue but beat on margin

11. Bharti Airtel & Vodafone Idea close higher ahead of AGR hearing on Monday

12. Market Breadth favours advances; advance-decline ratio at 2:1

Jul 17, 2020 4:03 PM

Closing Bell: Sensex, Nifty end at day's high, 5th straight week of gains; BPCL top gainer, rallies over 12%

Indian equity benchmark indices ended at day's high on Friday. This is the fifth straight week that the Indian market ended with gains. Oil & gas along with financial names contributed the most today.

At close, the Sensex ended with 548 points to 37,020 while the Nifty index ended at 10,902, up 162 points. Broader markets also ended 1 percent higher, adding more support.

Barring IT index, all sectors ended in the green. Nifty Financials (+ 1.94 percent) was the best-performing index of the day followed by Nifty PSU Bank (+1.83 percent), Nifty Auto (+1.73 percent) and Nifty Bank (+1.71 percent).

BPCL, ONGC, Bharti Infratel, Coal India and GAIL were the Nifty50 top gainers while Hindalco, Britannia, Nestle, TCS and Dr Reddy's Laboratories remained the top losers.

Market breadth was in favour of the advances. 1,219 stocks on the NSE ended with gains while 598 posted losses.

Jul 17, 2020 3:41 PM

Gold rate today: Yellow metal trades marginally higher; resistance placed at Rs 49,300 level

Gold prices India traded flat with a positive bias on the Multi Commodity Exchange (MCX) Friday tracking muted trend in the international spot prices. Strength in US dollar capped gains in the yellow metal prices, analysts said.

At 11:35 am, gold futures for August delivery rose 0.09 percent to Rs 48,815 per 10 grams as against the previous close of Rs 48,773 and opening price of Rs 48,796 on the MCX. Silver futures traded 0.55 percent lower at Rs 52,320 per kg. The prices opened at Rs 52,444 as compared to the previous close of Rs 52,610 per kg. Read more here

Jul 17, 2020 3:15 PM

Zee Learn vs UTI: RBI moratorium not applicable to mutual funds, debentures, rules Bombay HC

A recent judgement in the case of Zee Learn Vs UTI Asset Management has upheld that RBI’s moratorium scheme cannot be applied to mutual funds and debentures.

Zee Learn, the petitioner, had defaulted on a payment of Rs 44 cr to UTI Asset Management under a debenture deed, which was to be redeemed on July 8, 2020. In its writ petition filed at the Bombay High Court, Zee Learn claimed the default occurred due to COVID-19 related challenges. It also sought an extension of the redemption date to three months after the government allowed schools to fully open.

Zee Learn’s counsel had argued in court that although Reserve Bank of India’s March 27 and May 23 moratorium did not refer to mutual funds or debentures, the principles behind the circulars should be extended to the petitioner. Click here to read more

Jul 17, 2020 3:01 PM

Altico Capital files application with RBI seeking change of control/ownership from Clearwater Cap & Varde to SSG capital.

Jul 17, 2020 2:47 PM

KR Choksey Securities suggests 3 positional trades

Voltas has been consolidating for a long time and now there's a second stage for an upward breakout. One can buy it at lower levels at Rs 570, with a stop loss of Rs 555 and target at Rs 600, said Hemen Kapadia from KR Choksey Securtiies.

"The pharma theme continues to outperform, so I have a 'buy' call on Lupin. It as shown significant resilience in the near-term. We have closed about a 55-day exponential moving average, and indicators have turned positive, one can buy Lupin at Rs 899 with a stop loss of Rs 880 and target at Rs 925," said Kapadia.

He also recommended Cadila Healthcare at Rs 372, with a stop loss of Rs 365 and target price at Rs 386. The stock is seeing volume spike up and the hourly and two hourly indicators are giving cross over buys, added Kapadia.

Jul 17, 2020 2:32 PM

Rupee Closing: The Indian currency ended with gains today amidst positive equity markets. The rupee ended at 75.02 against the US dollar, as compared to Thursday's close of 75.19.

Jul 17, 2020 2:17 PM

Rupee Update | Rahul Gupta, Head of Research-Currency at Emkay Global Financial Services

The USD/INR spot is trading in the broader range of 74.85-75.50 and we expect it to continue trading in it. The traders are keeping a wary eye on China's trade relations with the United States and this caution will limit the fall in USD/INR. However, corporate dollar inflows and government fiscal stimulus package through coronavirus outbreak will keep the risk appetite intact. 75 is acting as a crucial support, if that breaks we can see a fall towards 74.80/74.85 with 75.50 being the resistance.

Jul 17, 2020 2:01 PM

Market Update | BPCL was the top gainer while TCS remained the top loser among the Nifty50 index.

Jul 17, 2020 1:53 PM

Market Watch | Dhananjay Sinha, Director & Head - Institutional Research of Systematix Group

Auto sector

“We are seeing significant traction and possibly an acceleration in rural consumption. There has been a significant re-bounce in auto sales especially with respect to two-wheelers and tractors. M&M is showing a growth of 12 percent, Escort is showing a growth of almost like 18 percent."

Agri inputs

“I would say agri inputs are broader consumption items especially relating to the rural areas like small consumer goods or consumer appliances so that is another area. Agri inputs have been seen a good traction. If you look at the fertilizer sales or production numbers there is a fairly good traction.”

Metals stocks

“We are moving towards more cyclicals with addition in terms of metals stocks and also with respect to banking, wherein there is a lot of concern even now. A lagged impact of crude oil prices can be seen on industrial metals, steel etc. We have picked up Hindalco and JSW Steel to capture that.”

Jul 17, 2020 1:38 PM

Jul 17, 2020 1:24 PM

Britannia Industries Q1 | Britannia Industries reported a consolidated net profit of Rs 542.6 crore in the first quarter of fiscal 2021 as against a net profit Rs 248.64 in the same period last year. Net profit beat CNBC-TV18 analysts poll estimates of Rs 395 crore.

The company's revenue during the quarter rose to Rs 3,420.7 crore as against Rs 2,700.35 crore, YoY. Britannia's volume growth was at 22 percent against estimates of 18-20 percent. Read more here.

Jul 17, 2020 1:08 PM

No legal relief for Emami from Bombay high court on trademark war with HUL

A division Bench at Bombay High Court dismissed Emami’s petition challenging the court’s order directing Emami to give 7-day prior notice before initiating legal proceedings against Hindustan Unilever (HUL) overuse of trademark ‘Glow & Handsome’. On July 7, HUL had moved Bombay High Court seeking an injunction against Emami's potential legal action against the company for trademark violations. Providing the necessary relief to HUL, the court had directed Emami to give 7-day prior notice to HUL before initiating any legal proceeding. Emami had challenged that very relief given to HUL by a single judge bench.

A division bench hearing the matter dismissed Emami’s plea, saying it was not inclined to interfere with the order passed by the single bench. Read more here.

Jul 17, 2020 12:53 PM

Jul 17, 2020 12:33 PM

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