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Indian equity benchmarks extended declines for the fifth consecutive trading session, clocking their longest losing streak in over two months.
The S&P BSE Sensex closed 0.36 percent lower at 37,847.65 and the NSE Nifty 50 fell 0.53 percent to 11,331.05. The broader market represented by the NSE Nifty 500 Index fell 0.8 percent.
The markets are expected to fall 8-10 percent from current levels, according to Narnolia Financial Advisors’ Vineeta Sharma.
“We are factoring in earnings per share of 575-580 for the Nifty in current financial year with a 17.5-21.5 times price-to-earnings. We could see the markets falling below the lowest estimated P/E if there are uncertainties in the macro, liquidity and earnings,” the Head of Equity Research told BloombergQuint over the phone. “This could lead to 8-10 percent correction.”
The market breadth was tilted in favour of sellers. About 1,185 stocks declined and 561 shares advanced on National Stock Exchange.
Nine out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Metal Index’s 2.4 percent fall. On the flipside, the NSE Nifty Media Index was the top sectoral gainer, up 1.69 percent.
Canara Bank (Q1, YoY)
Crompton Greaves Consumer Electricals (Q1, YoY)
Jubilant FoodWorks (Q1, YoY)
Zee Entertainment Enterprise
HDFC
Torrent Pharma
KRBL
Source: Bloomberg quoting people familiar with the matter
Shares of Axis Bank fell as much as 2.5 percent to Rs 709.35.
Indian equity benchmarks were trading off day’s low.
The S&P BSE Sensex fell 80 points to 37,902 as of 2 p.m. and the NSE Nifty 50 fell 0.4 percent to 11,283.60. The broader market represented by the NSE Nifty 500 Index fell 0.6 percent.
The market breadth was tilted in favour of sellers. About 1,171 stocks declined and 536 shares advanced on National Stock Exchange.
Shares of L&T fell as much as 2.4 percent to Rs 1,376.
About 11 lakh shares changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately. Besides, the company announced its quarterly results yesterday.
Key Earnings Takeaways (Q1, YoY)
Shares of Torrent Pharma rose as much as 8.9 percent, the most since August 2017, to Rs 1,599. The company had announced its quarterly results yesterday.
Key Earnings Highlights (Q1, YoY)
Shares of Asian paints fluctuated between gains and losses to trade 0.9 percent higher at Rs 1,441, after the company announced its quarterly results for the three months ended June. The stock had declined 2.4 percent intraday to Rs 1,395.
Key Earnings Highlights (Q1, YoY)
Shares of KRBL extended gains for the third consecutive trading session and rose as much as 15 percent to Rs 249.
Trading volume was more than double its 20-day average, Bloomberg data showed. The stock traded at 10 times its estimated earnings per share for the coming year, according to Bloomberg data.
Indian equity benchmarks recovered from day’s low.
The S&P BSE Sensex fell 180 points to 37,801 and the NSE Nifty 50 fell 0.6 percent to 11,259. The broader market index represented by the NSE Nifty 500 Index fell 0.9 percent.
Source: Bloomberg
Source: Bloomberg
Buyers and sellers were not known immediately.
Indian equity benchmarks recovered marginally from day’s low.
The S&P BSE Sensex fell 220 points or 0.58 percent to 37,760 and the NSE Nifty 50 fell 0.72 percent to 11,250. The broader market index represented by the NSE Nifty 500 Index fell 0.9 percent.
Shares of Karur Vysya Bank fluctuated between gains and losses to trade 1.9 percent lower at Rs 63.65 after the lender announced its quarterly results.
Key Earnings Highlights (Q1, YoY)
Indian equity benchmarks were trading at day’s low.
The S&P BSE Sensex fell 267 points or 0.7 percent to 37,720 as of 11:15 a.m. and the NSE Nifty 50 fell 0.85 percent to 11,235. The broader market index represented by the NSE Nifty 500 Index fell 1 percent.
The market breadth was tilted in favour of sellers. About 1,169 shares declined and 486 stocks advanced on National Stock Exchange.
Nifty’s 11,400 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract fell 65 percent to Rs 5.70. Over 12.11 lakh shares were added to the open interest which stood at over 46.83 lakh shares.
Indian equity benchmarks traded lower after a shaky start.
The S&P BSE Sensex fell 186 points or 0.49 percent to 37,796.21 as of 10:15 a.m. and the NSE Nifty 50 fell 0.66 percent to 11,257. The broader market represented by the NSE Nifty 500 Index fell 0.8 percent.
Shares of Cox & Kings hits lower circuit for nearly three weeks and are set for their record losing streak. The stock hit 5 percent lower circuit to a record low at Rs 14.80.
The company clarified that licenses issued by IATA remains valid till termination and the company is procuring airline tickets from trusted alternate travel companies on cash and carry basis. IATA had suspended the company’s license for selling air tickets on June 28.
The stock traded at 6.1 times its estimated forward earnings per share compared nine times for the two-year historical average, Bloomberg data showed.
Shares of Larsen & Toubro fluctuated between gains and losses to trade 0.2 percent lower at Rs 1,406.80 after the company announced its quarterly results.
Key Earnings Takeaways (Q1, YoY)
Shares of HDFC halted their three-day losing streak and rose as much as 2 percent to Rs 2,182. The stock was the best performer on Sensex and Nifty.
The housing finance lender said that as a policy in case of under-construction properties, it will disburse loans to individuals based on the stage of construction. The company’s exposure to housing loan products in subvention schemes offered by developers is less 2 percent of the individual loans.
The stock returned 10.7 percent so far this year and 10.3 percent in the past 12 months.
Shares of M&M Financial Services fell as much as 15 percent, the most since September 2018, to Rs 289.15, the lowest since March 2017.
This after the company announced its quarterly results for the three months ended June.
Key Earnings Highlights (Q1, YoY)
The stock extended fall for the sixth consecutive trading session and is set for its longest losing streak in nearly six months.
Indian equity benchmarks fluctuated between gains and losses after falling for four straight trading sessions.
The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 38,027 and 11,345 respectively. The broader market index represented by the NSE Nifty 500 Index rose 0.14 percent.
The market breadth was tilted in favour of sellers. About 831 stocks declined and 671 shares advanced on National Stock Exchange.
All the sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Auto Index’s 1.16 percent fall.
Indian equity benchmarks are set for a muted start.
The S&P BSE Sensex rose 52 points or 0.14 percent to 38,035 during the pre-market trade and the NSE Nifty 50 fell 0.17 percent to 11,312.20.
M&M Financial Services (Q1, YoY)
NIIT Technologies (Q1, QoQ)
Bayer Crop Science (Q1, YoY)
Torrent Pharma (Q1, YoY)
Linde India (Q2 CY19, YoY)
Sundaram Clayton (Q1, YoY)
SBI Life (Q1, YoY)
GE Power (Q1, YoY)
JK Paper (Q1, YoY)
Praj Industries (Q1, YoY)
Crisil (Q2 CY19, YoY)
Schaeffler (Q2 CY19, YoY)
Mahindra EPC Irrigation (Q1, YoY)
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