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The five-day rally in the Indian equity markets came to an end in today's session with the Benchmark indices ending lower post a last-hour sell-off.
The S&P BSE Sensex ended 0.94% lower at 36,329, while the NSE Nifty 50 index 0.9% lower at 10,705.
Selling pressure was mainly due to banking stocks. The Nifty Bank index, ended 0.2% lower, but fell over 500 points from the day's high.
Among the top underperformers in today's trade include Auto, I.T. and Realty stocks. Both Nifty Auto and Nifty Realty index ended 1.95% lower while the Nifty I.T. index posted losses of 1.7%. The Nifty Media index too declined 1.6% in today's session.
Among those who bucked the trend were PSU Banks, Metals and FMCG stocks. PSU Bank index ended with gains of 2.3% while the Metal index gained 1.6%. FMCG and Pharma index gained 0.8% and 0.7% respectively.
Broader markets were flat but ended with a negative bias. The Nifty Midcap index fell 0.4% while the smallcap index fell 0.2%.
The India Volatility Index snapped a five-day losing streak, ending 4% higher at 26.09.
Market breadth ended in favour of the declines. 784 stocks on the NSE ended with gains while 1,054 stocks declined.
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The company has informed the exchanges that it secured five new orders worth Rs 1,396 crore in the month of June.
All five orders pertain to the water division and have been received from various state government agencies, the company said in an exchange filing.
All the five projects need to be executed within a period of 15-24 months from the date of award, the company said.
The stock now trades little changed after gaining as much as 2.9% to Rs 34.1.
Source: AMFI
Let's take a look at how benchmark indices across Europe have opened:
Shares surged to the day's high, gaining as much as 2.1% to Rs 88, post the announcement.
The state-run construction company informed the exchanges that it secured total business worth Rs 431.6 crore for the month of June.
Out of the two projects that the company secured during the month of June - one is for the construction of Natural Draught Cooling Towers for Package-1 and Package-2 of 5x800 MW Yadadri plant on an EPC basis. The total cost of the project is Rs 284.63 crore.
The second is Project Management Consultancy services for construction and development of Students Hostel and Faculty apartments at IIT-BHU in Varanasi, for a total cost of Rs 147 crore.
Shares are off the day's high, after gaining as much as 3.65% to Rs 28.40. The stock is up for the third straight day.
Ramco Aviation Suite is compliant with International Traffic in Arms Regulations which will ensure significant cost savings, the company said.
Shares recovered from the day's low and are now locked in a 5% upper circuit at Rs 113.8, post the announcement.
Shares gained as much as 7.6% to Rs 81, up for the third straight day.
The capital raising committee of the bank approved the raising of funds in one or more tranches through a further public offer (FPO).
Bloomberg had reported on June 17 that the lender looked to raise around $1 billion through a public offer. Funds from the same would help push the bank's tier-1 core capital ratio to 10.5% from 6.5% as of March 31.
As of March 31, 2020, the bank’s CET-1 ratio and Tier-1 capital ratio stood at 6.3% and 6.5% compared to the minimum requirements of 7.375% and 8.875%, respectively.
Shares gained as much as 5.2% to Rs 27.1, snapping a three-day losing streak.
The company has won its first alloy wheels order from the European Union Market, it said in an exchange filing.
The order for the month of July consists of more than 3,100 CV wheels from the U.S. and EU market. The total order amounts to $1,40,000 and will be executed from the company's Mehsana plant.
Shares gained as much as 6.84% to Rs 465.6, post the announcement.
The company has separately clarified that the company's Metformin products in India have been assessed to be safe for patients and comply with all relevant regulatory norms.
Shares are trading near the day's high, gaining as much as 2.2% to Rs 889.65, post the announcement.
The rupee opened with gains today, after declining for two straight sessions on Monday and Tuesday.
The currency opened at 74.83 against the U.S. Dollar as compared to Tuesday's close of 74.90.
Credit Agricole, in a note on Tuesday said that gains in the rupee are short-lived and it is set to break past the 80 mark.
Within the bond markets, traders will keep an eye on treasury bill auctions worth Rs 35,000 crore. The government plans to sell 91-day, 182-day and 64-day treasury bills in the auction today.
The sugar company reported a net loss of Rs 145.2 crore for the quarter ended March, which was higher than the loss of Rs 23.2 crore reported during the same period last year.
Ebitda rose 10.3% while margins expanded to 10.2% from 8.9% owing to lower raw material costs.
The company's net loss widened despite a forex gain of Rs 130.4 crore this quarter.
Deferred tax outgo and higher other income in the base quarter contributed to the net loss.
Shares are locked in a lower circuit of 5% at Rs 10.05, down for the fourth day in the last five sessions.
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India's largest lender cut its three-month MCLR to 6.65% from July 10, comparable to the external benchmark linked lending rate.
The Bank in a statement said that the rate cut will boost credit offtake and revive demand in the market.
This is the 14th straight cut in MCLR according to the bank's exchange filing.
Shares are trading at the day's high, gaining as much as 2.3% to Rs 192.95, up for the third straight day.
Indian equity markets began the mid-week trade on a subdued note with benchmark indices opening flat.
The S&P BSE Sensex opened 0.17% higher at 36,738 while the NSE Nifty 50 index opened at 10,818, up 0.18%. Both the benchmarks gained for the fifth straight session on Tuesday.
All sectoral indices opened flat with Nifty Bank, Auto and Media index opening with gains of 0.3%. The Metals and Pharma index opened 0.4% higher.
952 stocks on the National Stock Exchange opened with gains while 523 reported losses.
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