By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
The Indian stock markets today ended in the red due to heavy selling by investors in today’s trade. Heavyweights stocks like Reliance Industries, HDFC Bank, Tata Consultancy Services, Infosys, HCL Technologies, and HDFC and witnessed heavy selling, leading to S&P BSE sensex losing value by 1.10% to close at 38071.13, while NIFTY 50 fell by 97.70 points to close at 11202.85.
In today’s trade, Six of the 11 sectoral gauges on the NSE ended in the red with the Nifty Auto index falling by 1.2 per cent.
However, there was considerable interest in the stocks of PSU Banks as the government is looking to sell stake in them. The Nifty PSU Bank index gained over 1.5 per cent to touch 1,419 points in today’s trade.
In the broader market, the S&P BSE MidCap index closed at 13,763 points, up 0.68 per cent while the S&P BSE SmallCap gained over 0.4 per cent to touch 12,972 points.
Stock price of auto major, Maruti Suzuki India (MSIL), fell by 1.6 per cent to close at Rs 6,185.60 after the company reported a consolidated loss of Rs 268.3 crore for the June quarter of FY21. In the same quarter last year the company had reported profit of Rs 1,376.8 crore.
Dr Reddy’s Laboratories
Stock price of Dr Reddy’s Laboratories hit a record high of Rs 4,334 today after the company reported a net profit of Rs 579 crore in the April-June quarter. The stock closed at Rs 4300.20, up 6.17 per cent.
Stock price of IndusInd Bank was up by 4.54% today after the company’s board Approved Rs 3,288 Cr Fund Raising plan.
The stock of Tata Coffee ended 12.13 per cent higher at Rs 93 after the company reported robust performance for the April-June quarter.
European shares performed better today due to a mixed earnings report of the corporate sector. However, a rise in the COVID-19 cases kept investors cautious about the economic conditions.
In Asia, Japan’s Nikkei 225 fell on a rising yen and weak start to the earnings season to close at 1.15% in the red. The MSCI world equity index, which tracks shares in 49 countries, was up around 0.1 per cent.
In the European markets, FTSE 100 was up 0.23% at the time of reporting, while Swiss Market Index was down by 0.12%.
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