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Indian equity markets began the first day of the July series expiry week on a negative note, ending with losses after trading in a range for most of the day.
The S&P BSE Sensex ended 0.5% lower at 37,934 while the NSE Nifty 50 index ended 0.6% lower at 11,128.
Among the sectoral indices, the Nifty Bank index was the top laggard in today's trade - ending 3.6% or over 800 points lower. All major private lenders - ICICI Bank (down 6%), HDFC Bank (down 3.5%), Axis Bank (down 3%) and IndusInd Bank (down 3%) contributed to the losses.
The PSU Banking index too ended with losses of 3.1%.
Other sectoral indices that declined included the Nifty Pharma and Nifty Realty, both of which fell 1.7%.
Broader markets underperformed in today's trade. The Nifty midcap index ended 1.3% lower while the smallcap index ended 0.6% lower.
I.T. outperformed in today's session as well with the Nifty I.T. index ending with gains of 2%.
The India Volatility Index snapped a two-day losing streak - ending 2% higher at 25.
Market breadth ended in favour of the laggards. 1,310 stocks on the NSE posted losses while 538 stocks advanced.
Shares are off the day's low, down 1.1% to Rs 166.9, post the announcement.
Shares fell as much as 3.2% to Rs 1,092.3 crore, post the announcement.
Shares are off the day's low after falling as much as 2.7% to Rs 347.3, post the announcement.
Shares fell as much as 3.1% to Rs 587.6, post the announcement.
Shares fell as much as 2% to Rs 1,323.1, post the announcement.
Shares rose as much as 9.5% - the most in over six months to Rs 354. The stock is trading at the highest level since January 2018.
Shares of ICICI Bank's brokerage unit fell the most in four months after ICICI Bank CEO Sandeep Batra during the post-earnings call, said that the bank will dilute 4% stake in the company during the current financial year.
Shares fell as much as 8.2% to Rs 493.25. The trading volumes for the stock today are 32% above its 20-day average.
The stock today is down for the second straight day.
Let's take a look at how benchmarks across Europe have opened:
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The Board of Directors have approved an enabling resolution for an issuance of equity shares or NCDs along with warrants or any other combination thereof, for an amount not exceeding Rs 1,200 crore, the exchange filing said.
The board has also given its approval to raise capital up to Rs 1,000 crore through a Qualified Institutional Placement (QIP).
A fund raising committee will determine the issue size, schedule and discount (if applicable), according to the exchange filing.
Shares are off the day's low but trade with declines of 1% at Rs 971.
Shares gained as much as 14.1% - the most since April 2015 to trade at an all-time high of Rs 1,811. The stock is up for the fourth straight day.
Shares gained as much as 3.6% to Rs 122.3, post the announcement before cooling off.
Shares fell as much as 6.2% to Rs 142.65 and are down for the second straight day. The stock is down 9.5% in the last two trading sessions.
The drugmaker announced that it has received approval of XEGLYZE lotion from the U.S. FDA.
The approval triggers the contractual pre-commercialisation milestone of $20 million payable to Hatchtech Pty., the company said in a statement.
The said lotion is used in the treatment of head lice infestation in patients aged six mnths and older.
The company is working to commercialise this product through its partners, the statement said.
Shares are recovering from the day's low after falling as much as 2.6% to Rs 3,962.9. The stock trades lower for the second straight day.
The company has informed the exchanges that it has received export orders of close to 70,000 wheels from the EU Caravan Trailer Market.
The order worth 4.29 lakh Euros will be executed in the month of September and October from its Chennai plant, it said in an exchange filing.
Shares are off the day's low, after falling 3% in early trade. The stock currently trades little changed at Rs 429.
Brokerage firm Citi has maintained its buy rating on the stock. It has raised its price target to Rs 255 from Rs 235.
Citi believes that the full benefit of the master supply agreement will reflect in CY21. It also expects the company's Ebitda per tonne to remain resilient in CY20.
Shares gained as much as 3.3% to Rs 207.7. The stock is trading at the highest level in nearly five months.
The rupee opened with gains in today's session after posting its second straight week of gains on Friday.
The currency opened at 74.71 against the U.S. Dollar as compared to Friday's close of 74.83.
The Bloomberg Dollar spot index fell to the lowest since March which may aid sentiment among Emerging Market Currencies.
Emkay Global Financial Services believes that the rupee may head towards 75.25 as August is a seasonally strong month for the greenback.
Yield on the 10-year government bond opened at 5.816% as compared to Friday's close of 5.824%.
Within the bond markets, traders will await RBI Governor Shaktikanta Das' interaction with the CII national council members at 11 a.m.
Tata Mutual Fund believes that sovereign bond yields will remain on a downtrend but at a slower pace.
Shares fell as much as 4.5% - the most in a month to Rs 364.55. The stock trades lower for the second straight day and is the top laggard on the Nifty 50 index.
Managing Director of the Mumbai-based private lender offloaded nearly all of his stake in the bank, three months ahead of his term ending.
Puri sold 74.2 lakh shares or 0.13% stake for Rs 843 crore as per insider trading disclosures on the BSE website. Puri sold the shares between July 21-23.
The shares were allotted to Puri at different times and different price points, a spokesperson said in a clarification.
Puri's 26-year stint at HDFC Bank comes to an end in October this year. He had earlier exercised stock options worth Rs 161 crore, as per its annual report.
The stock fell as much as 2.8% - the most in over a month to Rs 1,088. Shares trade lower for the second straight day and are among the top laggards on the Nifty 50 index.
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Shares gained as much as 19.2% - the most since 2010 to Rs 919.4. The stock currently trades at the highest level since September 2018.
Indian equity markets have begun the final trading week of the July series on a flat note, opening with modest gains.
The S&P BSE Sensex opened 0.38% higher at 38,275 while the NSE Nifty 50 index opened above the mark of 11,200 at 11,225 - up 0.3%. Benchmark indices had posted their sixth straight weekly gain on Friday.
All sectoral indices have opened flat. Nifty Realty, Nifty FMCG and Nifty Metal index gained 0.3% at the start of trade.
Broader markets too opened largely in-line with the benchmarks. Midcap index opened 0.3% higher while the smallcap index outperformed, opening with gains of 0.7%.
Market breadth is in favour of the gainers. 904 stocks on the NSE opened with gains while 480 stocks declined at the start of trade.
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