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The six-week gaining streak of India's benchmark indices came to an end in a week of consolidation. Benchmark indices declined in four out of the five sessions this week.
The S&P BSE Sensex ended 0.34% lower at 37,606 while the NSE Nifty 50 declined 0.14% to end at 11,087. Both Sensex and the Nifty declined for the third straight day.
Among the sectoral indices - the Nifty Pharma outperformed for the third straight day, ending 3.6% higher. Gains on the index were led by Sun Pharma and Cipla, both ending with gains of over 5%. Both were also the top performers on the Nifty 50 index.
Other sectoral gainers were the Nifty PSU Bank index and the Nifty Realty index, both ended with gains of over 1.4%.
The Media index was the only major sectoral laggard, ending 0.9% lower.
Broader markets outperformed in today's session. The midcap index posted gains of 0.4% while the smallcap index gained 0.8%.
Market breadth ended in favour of the laggards. 957 stocks on the NSE ended with losses while 829 stocks gained.
Shares ended higher for the fourth straight day, with gains of 5.5% at Rs 537.8.
Shares recovered from the day's low, currently trading 2.4% higher at Rs 1,927.
Shares rose as much as 3.25% to Rs 372.9, post the announcement.
Shares ended unchanged at Rs 88.55.
Shares ended 2.4% higher at Rs 191.
Shares gained as much as 8.8% to Rs 15.45, before cooling off.
Shares fell as much as 18.4% - the most since 2003 to Rs 34.20. The stock is down for the second straight day.
Let's take a look at how benchmark indices across Europe have opened:
Key Factors At Play For Indian Oil:
The housing finance lender's parent company Punjab National Bank has informed the exchanges that it will infuse a sum of Rs 600 crore in the company.
The fund infusion will be done through a preferential issue or a rights issue, PNB said in an exchange filing.
Shares of PNB are trading 1% lower at Rs 31.4, the lowest in two months.
Shares of PNB Housing Finance are off the day's low, down 1.5% at Rs 206.5.
The stock gained as much as 18.3% - the most since April 2010, to an all-time high of Rs 243. The stock is up for the fifth straight day - its longest winning streak in two months.
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Gold prices are set for its best monthly gain in more than four years, courtesy a weak U.S. Dollar and low interest rates.
Spot Bullion is up 10% in July, Bloomberg News reports. The gauge of the U.S. Dollar is on a downward spiral, prompting concerns that its status as the world's reserve currency of choice is at risk.
The yellow metal is just $20 shy of its all-time high as analysts believe that there are more gains ahead.
"There is still plenty of upside left in this rally," ANZ Banking group wrote in a note.
Gold is currently trading 0.9% higher at $1,973/Oz.
Shares are locked in an upper circuit of 5% at Rs 759.8. The stock has gained in four out of the last five trading sessions and is trading at an all-time high.
The stock is rising for the fourth straight day today, after brokerage firm CLSA raised its price target on the stock to Rs 590 from the earlier Rs 565.
The brokerage firm in its note states that the company has structural growth prospects going ahead owing to a diversified portfolio and a dynamic new management at the helm.
Raising its earnings and EPS estimates by 4% each, CLSA said that Dabur's current valuations are yet to capture its long-term growth potential.
The brokerage maintained its buy recommendation on the stock.
Shares rose as much as 4.1% - the most in two months to Rs 512.3. The stock now trades at the highest level in five months.
Shares surged as much as 1.8% to Rs 410.7, up for the second straight day.
Factors At Play For Sun Pharma:
JPMorgan has maintained a neutral rating on RIL but raised its price target to Rs 1,860 from Rs 1,490, citing valuations as being expensive on a bottom-up basis.
Shares fell as much as 2.7% to Rs 2,052 and are the top laggards on the Nifty 50 index.
The rupee opened with gains in today's session after ending little changed on Thursday.
The currency opened at 74.74 against the U.S. Dollar as compared to Thursday's close of 74.85. It has traded in a narrow range through the week.
Core sector data for the month of June will be reported today. The Reserve Bank of India will also be reporting its weekly forex and bank credit data later today.
Within the bond markets today, traders will look forward to the sale of government bonds worth Rs 30,000 crore as well as monitor the fiscal deficit data which will be released this evening.
The company has approved a fund raising plan worth Rs 2,000 crore through equity and / or debt. The company may raise funds through NCDs, preference shares or a rights issue or any other combination thereof.
Shares rose as much as 9.4% to Rs 37.95.
The company's board has approved a rights issue worth Rs 120 crore. It will issue 2 crore rights shares at Rs 60 per share.
The rights issue price is a 24% discount to Thursday's closing price. The rights entitlement ratio is set at 48 rights shares for every 125 shares held as on the record date.
The record date for the same has been set as August 5.
Shares gained as much as 5% to Rs 81.95, before cooling off.
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Shares gained as much as 7.4% to Rs 2,617. The stock is up for the third straight day. This is the biggest single-day gain for the stock in nearly four months. It is now trading at the highest level in over two months.
Indian equity markets opened marginally higher after ending the July series on a negative note.
The S&P BSE Sensex opened 0.3% higher at 37,847 while the NSE Nifty 50 index opened at 11,139 - up 0.34%.
Both benchmarks gained 8% in the July series but fell for the second straight day on Thursday.
On a weekly basis, both Sensex and Nifty are down 1% as of closing on Thursday.
Most sectoral indices have opened flat. The I.T. index has opened with gains of 1% while others are trading little changed to gains of 0.5%.
Broader markets have opened in-line with the benchmrks. The midcap index opened 0.3% higher while the smallcap index opened with gains of 0.4%.
Market breadth is in favour of the gainers. 858 stocks on the NSE have opened with gains while 569 have declined.
To know more about the key stocks in focus, brokerage views and more, click here.
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