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Indian equity markets ended the July F&O series on a weak note, ending the day lower by nearly 1%.
The S&P BSE Sensex ended 0.88% lower at 37,736 while the NSE Nifty 50 index ended 0.9% lower at 11,102.
Both benchmark indices ended the July F&O series with gains. This is the first instance this year that the Sensex and Nifty have had back to back gains in a monthly F&O series.
Most sectoral indices ended lower. The Nifty Pharma was the outperformer for the second straight day, ending 3.1% higher. Gains today were again led by Dr. Reddy's Laboratories, which ended at an all-time high with gains of 4.6%.
The I.T. index was the other sectoral gainer, ending 0.7% higher.
The underperformers in today's trade included the Nifty Bank and the PSU bank index, both ending lower by 2%.
The media index was the top laggard, ending with losses of 2.3%. The Metal and FMCG index saw losses of 1%.
Broader markets too saw declines. The Midcap index declined 0.8% while the smallcap index fell 1.1%.
The India Volatility Index ended 3.2% higher at 24.9.
Market breadth ended in favour of the laggards. 1,141 stocks on the NSE ended with gains while 689 posted gains.
Shares fell as much as 5.3% to Rs 209.55, post the announcement.
Shares surged to the day's high, gaining as much as 4.4% to Rs 797, post the announcement. The stock is trading at an all-time high.
Shares ended higher for the third straight day, up 0.6% at Rs 492.6.
Shares fell as much as 3.2% to Rs 3,808, post the announcement. The stock has snapped a two-day gaining streak.
Shares ended lower for the second straight day, down 3.75% at Rs 1,370. The stock has declined in three out of the last four trading sessions.
Shares gained as much as 4.2% to Rs 32.25, post the announcement. The stock is up for the fourth straight day.
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Shares gained as much as 3.4% to Rs 1,540.5, post the announcement.
Shares gave up gains of as much as 5.2% to fall as much as 4.6% to Rs 157. The stock has snapped a three-day gaining streak.
Shares of the company fell as much as 2.4% to Rs 847, before recovering. The stock is down for the second straight day.
Let's take a look at how benchmark indices across Europe have opened:
Shares gained as much as 4% to Rs 124.9, post the announcement. The stock is up for the sixth straight day, the longest winning streak since November 2018.
Shares recovered from the day's low to gain as much as 3.5% to Rs 1,371, post the announcement. The stock is up for the third straight day.
Shares fell as much as 5% to Rs 95. The stock is down in three out of the last four trading sessions.
Shares gained as much as 3.6% to Rs 2,358, post the announcement. The stock is up in three out of the last four trading sessions.
Shares fell as much as 2% to Rs 177.5, post the announcement.
Shares gained as much as 5.6% to Rs 628.1, up for the second straight day.
India's budget carrier SpiceJet is looking for ways to cut costs, including potentially reducing its workforce, CFO Kiran Koteshwar told Bloomberg News in an interview.
Koteshwar said that there is no mandate from the company's board to seek additional funds from the market.
The carrier is confident of managing the current crisis with the existing cash, Koteshwar said.
As of March 31, SpiceJet had liabilities of Rs 6,650 crore along with long-term liabilities of Rs 7,900 crore.
SpiceJet reported a net loss of Rs 807 crore for the quarter ended March 31.
Shares are off the day's low after falling as much as 3.5% to Rs 46.75.
Brokerage firm UBS has maintained its buy rating on the stock with a price target of Rs 1,500. It is expecting the airline to gain further market share due to its low-cost position, strong liquidity and higher customer satisfaction.
Shares gained as much as 3% at Rs 937, snapping a two-day losing streak.
The rupee has opened little changed after remaining in a narrow range through the week so far.
The currency opened at 74.82 against the U.S. Dollar as compared to Wednesday's close of 74.80.
Scotiabank is asking investors to buy the local currency as it is likely to benefit from bond inflows and a weak U.S. Dollar.
Yield on the 10-year government bond opened at 5.831% as compared to Wednesday's close of 5.85%.
Bond market traders today will assess the announcements from the U.S. Federal reserve.
The Fed kept interest rates near zero and has vowed to use all its tools to support an economic recovery from Covid-19.
Shares gained as much as 12.7% to Rs 560. The stock is trading at the highest level since September 2018.
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The government has extended the last date for submitting Expressions of Interest for the oil refiner to September 30.
The Department of Investment and Public Asset Management (DIPAM) had earlier extended the due date for submitting the EoI to July 31.
On September 13, 2019, Bloomberg News had reported that the government intends to sell majority stake in BPCL, a news that was officially announced in November.
From levels of Rs 384 in September, the stock rose to levels of Rs 549, before correcting post the official announcement and during the market sell-off in March.
Shares fell as much as 4.9% to Rs 431.55 and are down for the second straight day. The stock is the top laggard on the Nifty 50 index.
Brokerage firms like CLSA and UBS have maintained their buy ratings on the stock with both having their price targets in excess of Rs 700.
CLSA expects the company's ARPU to rise to Rs 181 by FY22 while UBS expects the earnings momentum to accelerate going ahead.
Shares gained as much as 2.5% to Rs 580.4, before cooling off.
Indian equity markets opened with gains on the expiry day of July's F&O contracts.
The S&P BSE Sensex opened 0.5% higher at 38,262 while the NSE Nifty 50 index opened at 11,254, up 0.46%.
Both Sensex and Nifty are up 9% so far for the July series.
Among the sectoral indices, the media index was the only sectoral laggard, opening with losses of 2.5%. The PSU Bank index was the top gainer; up 1% at the start of trade. All other sectoral indices gained between 0.5-1%.
Broader markets were flat at open. The midcap index gained 0.4% while the smallcap index gained 0.2%.
Market breadth was in favour of the gainers. 1,029 stocks on the NSE are trading with gains while 393 trade with losses.
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