Written BY… Aamar Deo Singh, Head Advisory, Angel Broking Ltd
The 6-days winning streak at the Indian stock markets broke today as both Nifty and Sensex ended lower in a volatile trading session. Sensex was down by 0.38% or 128.84 points and closed at 33980.70. Nifty, on the other hand, tripped 0.32% or 32.45 points and closed at 10029.10 still managing to stay above the 10K mark.
The fall in the indices was experienced in spite of resumed economic activities in the country.
Majority of the banking stocks traded red for the day except PNB which showed a rise of 2.48%. HDFC bank’s stock fell by 2.67%, Bank of Baroda’s stock fell by 0.46%, SBI’s stock fell by 0.23%, and ICICI Bank’s stock fell by 2.42%.
Around 1132 shares declined, 1287 shares advanced, while 156 shares remained unchanged for the day.
Vedanta (7.70%), Tech Mahindra (5.20%), Zee Entertainment (5.52%), Bharti Airtel (5.73%), and Sun Pharma (4.17%) were among significant individual gainers for the day.
Asian Paints (4.64%), Bajaj Finance (4.04%), IndusInd Bank (3.57%), HDFC Bank (2.67%), and Kotak Mahindra Bank (3.54%), on the other hand, were top market losers.
All sector indices, except Nifty Bank that fell by 2%, continued to remain green.
Tata Power declared the sale of its shipping business expecting USD 200 million via the sale. As a response to the news the share price of Tata Power rose by 2.04% and closed at Rs.42.55
Bajaj Holdings and Investments
Bajaj Holdings and Investments share fell down by 1.74% and traded at Rs.2238. The company reported a consolidated sale of Rs.110.46 crore for the March 2020 quarter. The sales were 27.17 percent more than those reported in the previous quarter.
Reliance Industries Pvt Ltd.
Reliance Industries Ltd’s capitalization crossed Rs. 10 Lakh crore as the the company’s share witnessed a rise of 2.23% and traded at Rs.1576. The stock touched the intraday high of Rs.1589 per share.
State-run oil refiner BPCL’s share fell by 3% earlier during the day after the company reported a consolidated loss of Rs. 1819.56 crore for the March 2020 quarter. However, the stock recovered later by 2.11% and traded at Rs.356.40.
Gold prices that continued to fall since April 30 rose during the day after the signs of economic recovery were received.
Indian rupee ended lower by 11 paise at Rs.75.57 per dollar today.
Oil prices fell on Thursday on account of worries over building up of U.S fuel inventories. Further extension in output cuts supported by Saudi Arabia and Russia, world’s largest oil producers, also fueled the fall in oil prices.
European stock opened lower for the day owing to the continued threat of coronavirus pandemic. The protests in the U.S too fueled the negative sentiments among investors.
Global stock markets rose extending the three days of gain. The growth in the global stock market was witnessed as more and more countries started to reopen and resume their economic activities. Nasdaq rose 0.78%, Nikkei 225 rose by 0.36%, and Hang Seng rose by 0.17% while FTSE MIB fell by 0.88%.
You might also like
More from Business
MAHARASHTRA GOVERNMENT AND UK INDIA BUSINESS COUNCIL EXTEND MOU TO FOSTER SUSTAINABLE BUSINESS RELATIONS BETWEEN UK AND INDIA
Mumbai, July 3, 2020: The UK India Business Council today signed a Memorandum of Understanding (MoU) with Maharashtra Industrial Development Corporation …
By Aamar Deo Singh, Head Advisory, Angel Broking Ltd Benchmark indices continued the positive movement for the third consecutive day. Nifty surged …
Chennai, 02 July 2020: Affle (India) Limited through its subsidiaries (“Affle”), today announced the signing of a definitive agreement …