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About 19.4 lakh shares of yes bank changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Besides, the company is scheduled to announce its quarterly results today.
Here’s the preview of analysts consensus estimates tracked by Bloomberg
Yes Bank Earnings Estimates (Q1 YoY)
Indian equity benchmarks are consolidating in a range, Angel Broking’s Techincal Analyst Ruchit Jain said. “11,705-11,530 are the key levels to watch out,” Jain told BloombergQuint in an interaction. “Advisable to trade in index on a breakout from the range,” he added.
MCX
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CG Power and Industrial Solutions
Indian equity benchmarks extended gains for the third consecutive trading session and are set for their longest gaining streak in nearly two weeks.
The S&P BSE Sensex rose 0.18 percent to 39,198 as of 3 p.m. and the NSE Nifty 50 rose 0.17 percent to 11,682. The broader market index represented by the NSE Nifty 500 Index rose 0.11 percent.
The market breadth was tilted in favour of sellers. About 885 stocks declined and 852 shares advanced on National Stock Exchange.
Shares of IRB Infrastructure Developers halted a five-day losing streak, their longest losing streak in over a month.
The stock rose as much as 9.9 percent, the most since May 20, to Rs 95.50.
Of the shares traded, 49 percent were at the ask price and 42 percent were at the bid, Bloomberg data showed. The scrip traded at 4.4 times its estimated earnings per share for the coming year, according to Bloomberg data.
Shares of HDFC Asset Management Company Ltd. extended gains for the second consecutive trading session and rose as much as 6.9 percent to hit an all-time high at Rs 2,127.
The company had reported its quarterly earnings for the three months ended June yesterday.
Key Earnings Highlights (Q1, YoY)
Morgan Stanley sees $25 billion of inflows if free float and budget proposals are implemented by the Government, its Head of India Equity Research and India Equity Strategist Ridham Desai said.
“The government has started to address India's free float problem and proposed changes in the recent budget. Our estimates imply inflows of $25 billion, a 146 basis points increase in India's weight in the MSCI EM index, and a 7ppt rise in India's foreign free float if all three proposals are implemented,” Desai said in a report.
Government Official Says
Source: People familiar with the matter told Bloomberg
Indian equity benchmarks witnessed a rangebound trade.
The S&P BSE Sensex rose 0.27 percent to 39,234 as of 1 p.m. and the NSE Nifty 50 rose 0.23 percent to 11,689.10. The broader market index represented by the NSE Nifty 500 Index rose 0.18 percent.
Eight out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Medial Index’s 1 percent gain. On the flipside, the NSE Nifty Auto Index was the top sectoral loser, down 0.5 percent.
Shares of Dhanlakshmi Bank rose as much as 5.7 percent to Rs 19.50 after the company announce its quarterly results for the three months ended June.
Key Earnings Highlights (Q1, YoY)
Shares of Yes Bank fell as much as 4.7 percent to Rs 99. The stock had risen 4.5 percent intraday.
About 11.5 lakh shares of the lender changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
The stock is the worst performer on Sensex and Nifty. Trading volume was more than double its 20-day average, according to Bloomberg data.
Besides, the company is scheduled to announce its quarterly results today.
Here’s the preview of analysts consensus estimates tracked by Bloomberg
Yes Bank Earnings Estimates (Q1 YoY)
Investors need to be thoughtful and careful in stock and sector selection.
That’s the word coming from BNP Paribas’ Asia Pacific Equity Strategist Manishi Raychaudhuri. “The market is favorable for long-term investors that are not perturbed by short-term fluctuations,” he told BloombergQUint in an interaction.
According to Raychaudhuri:
Lenders to Jet Airways (India) Ltd. have sought a deeper review of the grounded airline’s financials after a limited forensic audit threw up a series of anomalies.
Lenders led by State Bank of India have begun preliminary discussions with EY on a deeper forensic audit of the company’s books to capture any large financial irregularities, two people in the know told BloombergQuint on condition of anonymity.
Here’s what the sources told BloombergQuint.
Indian equity benchmarks were rangebound during the noon.
The S&P BSE Sensex rose 0.3 percent to 39,243 as of noon and the NSE Nifty 50 rose 0.28 percent to 11,694.90. The broader market index represented by the NSE Nifty 500 Index rose 0.27 percent.
Ten out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Medial Index’s 1.1 percent gain. On the flipside, the NSE Nifty Auto Index was the only sectoral loser, down 0.33 percent.
Stocks saw another mixed session in Asia Wednesday, with subdued trading volumes, as continuing U.S.-China trade tensions contrast with still-solid economic data to leave investors without a dominant narrative.
Catch all the global markets update here.
Shares of Tata Elxsi fell 1.6 percent to Rs 801.55 after the company announced its June quarter results
Key earnings Highlights (Q1, YoY)
Shares of Yes Bank fell as much as 3.5 percent to Rs 100.25, making it the worst performer on Sensex and Nifty. The stock had risen 4.5 percent intraday.
The company is scheduled to announce its quarterly results today.
Here’s the preview of analysts consensus estimates tracked by Bloomberg
Yes Bank Earnings Estimates (Q1 YoY)
Indian equity benchmarks traded higher after a shaky start.
The S&P BSE Sensex rose 0.34 percent to 39,262 as of 11 a.m. and the NSE Nifty 50 rose 0.30 percent to 11,697.30. The broader market index represented by the NSE Nifty 500 Index rose 0.28 percent.
The market breadth was tilted in favour of buyers. About 958 stocks advanced and 670 shares declined on National Stock Exchange.
MCX (Q1, YoY)
Jay Bharat Maruti (Q1, YoY)
Agro Tech Foods (Q1, YoY)
5Paisa Capital (Q1, YoY)
The sharp drop in sovereign bond yields is setting the stage for lower borrowing rates, according to Credit Suisse’s Neelkanth Mishra.
“So far, the drop in sovereign yields has also not reflected fully in other bonds, and credit spreads have widened. These should also correct over time, though possibly not as rapidly. The PSU banks with excess SLR, REITs and rate sensitives are the most direct beneficiaries of lower rates, Mishra said.
Nifty’s 11,700 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the weekly contract which is set to expire tomorrow rose 11.83 percent to Rs 21.75. Over 8.66 lakh shares were removed from the open interest which stood at over 24.66 lakh shares.
Indian equity benchmarks edged higher after a shaky start.
The S&P BSE Sensex rose 0.15 percent to 39,190 as of 10 a.m. and the NSE Nifty 50 rose 0.18 percent to 11,684. The broader market index represented by the NSE Nifty 500 Index rose 0.23 percent.
The market breadth was tilted in favour of buyers. About 990 stocks advanced and 582 shares declined on National Stock Exchange.
Shares of Strides Pharma fell as much as 8.1 percent, the most since May 13, to Rs 347.10.
The U.S. Food and Drug Administration inspectors said they found what appeared to be records awaiting shredding at Strides Pharma Science Ltd.’s manufacturing facility in Puducherry. (read the full report here)
Trading volume was almost 15 times its 20-day average, Bloomberg data showed. Trading in the company's call options totalled 1,102 contracts, compared with the average of 299 over the past 20 days. Trading in the company's put options totalled 929 contracts, compared with the average of 195 over the same period.
Shares of the wind-turbine maker extended declines for the fourth consecutive trading session. The stock fell as much as 8.60 percent to Rs 4.25.
The company, which became India’s biggest convertible-note defaulter in 2012, defaulted on the payment of bonds worth $172 million which was due on July 16.
The stock trades 84 percent below Bloomberg consensus one-year target price.
Indian equity benchmarks are set for a tepid start.
The S&P BSE Sensex and the NSE Nifty 50 were little changed at 39,142 and 11,682 during the pre-market trade.
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MCX (Q1, YoY)
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5Paisa Capital (Q1, YoY)
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