Bears dominated the Indian market in July with the Nifty50 index losing nearly 750 points (6.3 percent) and Sensex declining over 2200 points (6.5 percent).

Share Market Live

NSE

This was the worst July for Nifty in the last 17 years. Before this, Nifty fell 9.35 percent in 2002. Apart from these two cases, the index has ended July in the red 3 other times — 2.93 percent in 2011, 0.95 percent in 2012 and 1.72 percent in 2013.

The fall in the markets in July started post Budget after Nirmala Sitharaman proposed new super-rich surcharges, tax on buybacks in listed companies, and increasing public shareholding to 35 percent.

Continued selling by foreign investors post the surcharge, weak corporate earnings and slowdown in demand kept the indices under pressure for the whole month. Overseas investors have pulled out over Rs 3,700 crore from the Indian capital markets in July.

In the Nifty50 index, only 5 stocks gave positive returns in July, while the rest 45 were in the red for the month.

The gainers included Asian Paints, Infosys, Sun Pharma, Kotak Bank, and PowerGrid. Meanwhile, Titan, Tata Motors, Coal India, GAIL, Axis Bank, Bajaj Finserv, Eicher Motors, M&M, YES Bank were some of the stocks that fell over 15 percent in July.

Asian Paints was the top gainers in the benchmark, up 12 percent in July after the company reported double-digit growth in decorative business for the June-quarter. Its consolidated profit grew 17.7 percent to Rs 655.44 crore in Q1 and revenue increased 16.6 percent to Rs 5,130.63 crore, beating analyst expectations.

Infosys also rose 8.4 percent on robust Q1 results. Infosys' June quarter profit fell 6.8 percent sequentially but raised its full-year constant currency revenue guidance to 8.5-10 percent. Revenue increased to Rs 21,803 crore, a growth of 14 percent year-on-year and 1.2 percent quarter-on-quarter.

Sun Pharma gained 6.4 percent after Morgan Stanley 'double upgraded' the stock on hopes of earnings revival. "We are double upgrading Sun stock to 'Overweight' in expectation of a revival in its earnings from F21 onwards, driven by steady growth in the base business coupled with plateauing of the current elevated cost structure, leading to positive operating leverage," Morgan Stanley said in its report.

Kotak rose nearly 3 percent in July despite slowdown after its profit grew 32.7 percent YoY in Q1 to Rs 1,360.2 crore driven by lower provisions and higher net interest income. Net interest income (NII) was up 22.85 percent to Rs 3,173.04 crore in Q1, against Rs 2,582.90 crore in the same period last year.

Among losers, Titan plunged 20 percent in July after the company said its consumption during April-June took a hit due to rising gold prices. Titan in its quarterly update on Monday said it witnessed a tough macro-economic environment with consumption being hit during April-June quarter due to rising gold prices.

Meanwhile, Tata Motors fell 19 percent amid challenges in Jaguar Land Rover (JLR) business and the ongoing slowdown in the domestic operations.

Among others, Coal India lost 17.9 percent, GAIL 17.5 percent, Axis Bank plunged 16.8 percent, Bajaj Finserv 16.7 percent, Eicher Motors 16.7 percent, M&M 16.6 percent, and YES Bank 16.4 percent.

Disclaimer

: CNBCTV18.com advises users to check with certified experts before taking any investment decisions