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Indian equity markets snapped a four-day gaining streak, as cues from the global markets turned adverse in the second half of trade.
Both S&P BSE Sensex and the NSE Nifty 50 index ended 1.58% lower at 34,868 and 10,305 respectively. The Sensex declined 561 points while the Nifty fell 165 points in today's trade.
Among the sectoral indices, the Nifty Bank was the top sectoral laggard; ending 3.8% or 838 points lower at 21,426. All constituents of the Nifty Bank, barring Bank of Baroda, ended with losses.
Other indices like The Nifty Metal, Nifty Pharma and Nifty Realty ended with losses of over 2% each.
The Nifty Media index snapped a seven-day winning streak to end 3% lower.
Nifty FMCG emerged as the only sectoral gainer today, ending 0.45% higher.
Broader markets fell in tandem with the benchmark indices. The Nifty Midcap and Smallcap index fell 1.4% and 1.8% respectively.
The India Volatility Index ended 2.2% higher at the mark of 30.
Market breadth ended in favour of the laggards. 1,074 stocks on the NSE ended with losses while 754 managed to post gains.
The top Nifty gainer in today's session was Asian Paints, which ended 3.8% higher while ICICI Bank and IndusInd Bank ended as the top laggards on the index, declining 7.1 and 6.67% respectively.
Shares ended 2.63% lower at Rs 87, snapping a four-day losing streak.
Shares are off the day's high, trading 4% higher at Rs 242.7, after gaining as much as 11.2%. The stock is up for the sixth straight day.
Shares fluctuated between gains and losses after the announcement. They are currently trading 0.8% lower at Rs 4,074, snapping a four-day losing streak.
Shares fell as much as 5.6% to Rs 355.25 and it is among the top laggards on the Nifty 50 index.
Shares trade near the day's low, down 1.8% at Rs 43.65, snapping a five-day gaining streak.
Shares gained as much as 5.1% to Rs 104.35 post the announcement.
Let's take a look at how benchmarks across Europe have opened:
Shares recovered after falling as much as 3.5% to Rs 127.1 post the announcement. The stock is currently fluctuating between gains and losses.
India's market regulator Securities and Exchange Board of India has extended the timeline to submit financial results for the quarter and year ended March 31, to July 31, Bloomberg News reports citing a SEBI statement.
The regulator had earlier set a deadline of June 30 for the same.
The revised timeline is also applicable for listed bonds and other debt issuances.
Companies, accountancy firms and industry bodies sought the extension due to continuing lockdown posing various operational challenges.
The pharma company received the final approval to market the Meclizine Hydrochloride tablets from the U.S. FDA. The tablets can be marketed in strengths of 12.5 mg and 25 mg. The company said in an exchange filing.
The said drug is an antihistamine used in the prevention and treatment of nausea, vomiting and dizziness caused due to motion sickness.
This drug will be manufactured in the group's manufacturing facility at SEZ, Ahmedabad.
Shares recovered from the day's low to gain as much as 1.7% to Rs 373.35. The stock is up for the second straight day.
Shares gained as much as 17% to Rs 218, post the announcement. This is the biggest single-day gain for the stock since June 2009. The stock is up for the fourth straight day and trades at the highest level in over three months.
The upstream oil explorer has halted drilling at two rigs after a staff member tested positive for Covid-19, Bloomberg News reports citing a company statement.
The company continues to operate the remaining 34 rigs on the Western Offshore with relevant safety precautions.
Western Offshore fields contribute more than 65% of the company's total oil output and 75% of the total gas production.
Shares of the company fell as much as 2.3% to Rs 83.70 per share.
The public sector lender's net loss narrowed in the March quarter to Rs 2,713 crore from the Rs 3,331.5 crore loss it reported in March last year.
Provisions saw a decline to Rs 3,501.7 crore, which also included exceptional harmonisation provisions of Rs 2,510 crore due to the amalgamation of Andhra Bank and Corporation Bank.
Asset quality improved with Gross NPA at 14.15% from 14.98% while net NPA fell to 5.49% from 6.85% in the previous quarter.
Shares fell as much as 4.9% to Rs 34.2, snapping a five-day gaining streak. It is also the worst performing stock on the Nifty PSU Bank index.
Shares gained as much as 20% - the biggest single-day jump since May 2014 to Rs 60.50. The stock now trades at the highest level in over three months.
The paint company reported a 6.4% decline in its net profit compared to the previous year. Revenue saw a de-growth of 8% to Rs 1,354.8 crore.
Ebitda fell 7.6% while margins remained flat at 15.4%.
The company's board of directors have approved a final dividend of Rs 0.3 per share.
Shares trade near the day's high, gaining as much as 4.5% to Rs 538.85. The stock is up for the fourth straight day.
The drugmaker has been informed by the U.S. FDA that shortage implications for Chloroquine Phosphate API has changed and that Chloroquine Phosphate drug is no longer in shortage.
The U.S. FDA had exempted the Chloroquine Phosphate and Hydroxychloroquine Sulfate APIs, manufactured at the company's Ratlam facility from an import alert.
As the Chloroquine Phosphate API is no longer in shortage, it will be excluded from the import alert.
Exception to the import alert has now been made for the API Hydroxychloroquine Sulfate, according to the exchange filing.
Shares fell as much as 2.9% to Rs 1,623, snapping a four-day losing streak.
The wheels manufacturer has bagged export orders worth $1,70,000 from the U.S. and the European Union, it said in an exchange filing.
The orders are for 20,000 wheels for the Caravan Trailer Market in the U.S. and the European Union.
This order will be executed from the company's Chennai plant from July until November.
The order will also enable ramping-up of production at the Chennai plant, the company said.
Shares gained as much as 5.2% to Rs 455, adding to Tuesday's 10.3% gain. This stock is up for the fourth straight day.
Shares gained as much as 5.1% to Rs 1,769 and are up for the fifth straight day. The stock is also the top performer on the Nifty 50 index.
30.5 lakh shares of the diagnostics player exchanged hands in a single large trade on the Bombay Stock Exchange, as per Bloomberg data.
The total number of shares exchanged amount to 6% of the total equity.
The promoter group had intended to sell 23.4 lakh shares or 4.6% of the total equity in the company through a secondary placement at Rs 1,300 per share.
The floor price was a 10.5% discount to Tuesday's closing.
Post the stake sale, promoter stake will decline to 52.31% from 56.9%.
Shares fell as much as 4.7% to Rs 1,382.1 and are down for the third straight day.
The state-run lender reported a net profit of Rs 506 crore for the quarter ending March, aided by a tax write-back of Rs 2,230 crore.
The bank's Net Interest Income grew 40% as compared to the previous year while asset quality improved sequentially.
Gross NPA for the bank stood at 9.4% from 10.43% while net NPA declined to 3.13% from 4.05% in the previous quarter.
The bank's management expects the loan moratorium portfolio to come down to 35% by August. The portfolio currently stands at 65%.
Shares gained as much as 8.9% to Rs 55. The stock trades at a three-month high and is up for the sixth day in a row. This is the stock's longest winning streak since November 2019.
The stock fell as much as 6.2% to Rs 341 and is down for the fourth straight day.
Indian equity markets continued to rebound, opening higher for the fifth straight day, tracking positive cues from other Asian markets.
The S&P BSE Sensex opened 0.7% higher at 35,679 while the NSE Nifty 50 opened above the 10,500 mark at 10,529, up 0.56%. The Nifty has now gained over 3,000 points from its March low of 7,511.
Among the sectoral indices, the Nifty Bank and Nifty Auto index opened 1% higher while the PSU Bank index gained another 3%.
The Nifty Media Index opened 1.6% higher, gaining for the eighth straight day and registering its longest winning streak since December 2017.
Market breadth was in favour of the advances at the start of trade. 1,216 stocks opened with gains while 247 declined on the National Stock Exchange.
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