Name: Markets open lower; Sensex down 60 pts, Nifty at 11,074
Uploaded: 2020-07-31T10:55:30.fff+05:30
Duration: T00M27S
Channel: editorji
Description: Indian stock markets started Friday in red following weak global cues. Banking and financial stocks were dragging the markets down. At 9:20 am, the Sensex was 60 points down and the Nifty was 0.25% in the red at 11,074. HDFC, Kotak Bankm HDFC Bank, Tata Steel and Here Moto Corp were the top Nifty losers. While HCL Tech, BPCL, TCS, Infosys and L&T were the top gainers.

Indian stock markets started Friday in red following weak global cues. Banking and financial stocks were dragging the markets down.
At 9:20 am, the Sensex was 60 points down and the Nifty was 0.25% in the red at 11,074.
HDFC, Kotak&nbsp;Bankm&nbsp;HDFC&nbsp;Bank, Tata&nbsp;Steel and Here Moto&nbsp;Corp were the top Nifty losers. While HCL&nbsp;Tech, BPCL, TCS, Infosys&nbsp;and L&amp;T were the top gainers.

Indian stock markets started Friday in red following weak global cues. Banking and financial stocks were dragging the markets down. At 9:20 am, the Sensex was 60 points down and the Nifty was 0.25% in the red at 11,074. HDFC, Kotak Bankm HDFC Bank, Tata Steel and Here Moto Corp were the top Nifty losers. While HCL Tech, BPCL, TCS, Infosys and L&T were the top gainers.

Indian equities surged on Thursday to in the green as IT, metal and pharma&nbsp;stocks rallied. Positive commentary by the central bank governor Shaktikanta&nbsp;Das&nbsp;also lifted the sentiment.
The Sensex&nbsp;closed 362 points higher above 38,000-level and the Nifty jumped 0.89% to end the session at 11,200.
Tata&nbsp;Steel, Infosys, GAIL, Bajaj&nbsp;Finance and UPL were the top gainers.
The rupee settled for the day on a flat note at 74.94 against US dollar.

The Reserve Bank of India on Thursday added additional shine to gold ornaments and jewellery by allowing banks to give loans up to 90% of the value of such items pledged by borrowers.
At present, loans sanctioned by banks against pledge of gold ornaments and jewellery is up to 75% of the value of such items.&nbsp;The enhanced loan-to-value ratio will be applicable up to March 31, 2021.
The additional loan against jewellery is expected to mitigate the economic impact of the Covid-19 pandemic on households, entrepreneurs and small businesses and help them tide over their temporary liquidity mismatches.
&nbsp;

Stock markets fell from the day's highs to end almost flat on Wednesday as heavyweights HDFC&nbsp;Bank and Reliance turned negative even as metal and auto stocks posted a strong&nbsp;rally.
The Sensex&nbsp;fell almost 480 points from the day's high to end at 37,663, down 24 points. Nifty closed at 11,101 after surging to 11,225 during the trading session.
UPL, HDFC&nbsp;Life, Powergrid, HDFC&nbsp;Bank and Wipro&nbsp;were the top five Nifty losers. Whereas, Hindalco, Tata&nbsp;Steel, Eicher&nbsp;Motors, Adani&nbsp;Ports and Tata&nbsp;Motors were the key index supporters.
The rupee settled with gains of 10 paise at 74.94 against the US dollar.

India&rsquo;s largest private-sector mortgage financier HDFC&nbsp;may launch a ₹14,000 crore&nbsp;worth qualified institutional placement on Wednesday as it looks to strengthen its balance-sheet and scout for Mergers and acquisitions opportunities in the Covid-19 era, as per a Moneycontrol&nbsp;report.
The hybrid fundraising&nbsp;program&nbsp;includes&nbsp;₹10,000 crore of non-convertible debentures (NCD) plus warrants and ₹4,000 crore of warrants, Economic Times reported. While the Moneycontrol&nbsp;report mentioned that ₹10,000 crore&nbsp;would be raised via equity.
&nbsp;

Indian equities posted strong gains on Tuesday as benchmark indices&nbsp;ended 2% higher, led by index-heavyweights Reliance and HDFC&nbsp;Bank.
The Sensex&nbsp;surged 748 points and the Nifty rallied 1.94% to end the day above 11,100.
Reliance spiked over 7% followed by Zee, HDFC&nbsp;Bank, JSW&nbsp;Steel and Maruti.
Asian markets were in the green while European bourses&nbsp;were mixed.
The rupee pared some of its initial losses and settled 3 paise down at 75.04 against the US dollar.

Equity benchmarks opened higher on Tuesday supported by strong Asian peers. US markets also ended in the green.
At 9:20 am, the Sensex was 263 points up and the Nifty was trading above 10,900 level, rising 0.53%.
Zee, Hero Moto&nbsp;Corp, Bajaj&nbsp;Auto, Infratel and UPL&nbsp;were the top Nifty movers.

Spencer's Retail is coming with a rights issue for ₹80 crore&nbsp;at a price of&nbsp;₹75 per equity share. The Issue will open for subscription on August 04 and will close on August 18.
The company intends to utilize the net proceeds from the issue to meet its working capital needs and other general purposes.
The company is offering 2 rights shares for every 15 shares held on July 29. The shares will be allotted on August 25 and will be listed on August 27.

Indian equity benchmarks tumbled on Monday led by sharp selling in banking and financial stocks.
The Sensex&nbsp;dropped 667 points to end at 36,939 and the Nifty plummeted 1.57% to close the session below 10,900.
UPL, IndusInd&nbsp;Bank, HDFC&nbsp;Life, Kotak&nbsp;Bank and ONGC&nbsp;were the top market losers.
The rupee plunged 20 paise and settled at 75.01 per US dollar tracking negative domestic equities.

Bandhan Bank's promoter will sell a 20.95% stake for ₹10,500 crore&nbsp;on Monday. The floor price is ₹311 per share, about 10% lower than Bandhan Bank's Friday closing price of ₹345.25.
The bank's main shareholder Bandhan Financial Holdings Limited&nbsp;which currently owns 60.95% shares in the lender, is expected to bring it down to 40%, in line with the&nbsp;RBI&nbsp;regulatory norms.
Coming down heavily on the Kolkata-based lender for not being able to bring down the promoter holding to 40% in three years&rsquo; time, the RBI had in September 2018 barred the bank from opening new branches and also frozen the remuneration of its MD and CEO Chandra Shekhar Ghosh.

Equity markets slumped in the opening session on Monday as banking and financial stocks dived down. Most Asian markets were in the green.
At 9:30 am, the Sensex was 300 points down at 37,309 and the Nifty fell 0.63% to trade near 11,000-level.
UPL, IndusInd&nbsp;Bank, Kotak&nbsp;Bank, HDFC&nbsp;Life and HDFC&nbsp;Bank were the top losers.

Reliance Industries' consolidated net profit increased 102.4% sequentially and 30.6% year-on-year to&nbsp;₹13,248 crore in the June quarter.
Although, RIL's consolidated revenue for the quarter fell to ₹1.01 lakh&nbsp;crore&nbsp;from ₹1.74 lakh&nbsp;crore&nbsp;last year. Its EBITDA&nbsp;came in at ₹16,875 crore&nbsp;against ₹21,782 crore in previous quarter while margin rose sharply to&nbsp;19.1% from 16% in the March quarter.
Reliance Jio reported a 182.8% rise in y-o-y net profit to&nbsp;₹2,520 crore for the quarter ended in June.&nbsp;Jio's average revenue per user or&nbsp;ARPU&nbsp;growth of 7.4% quarter-on-quarter at ₹140.3 per subscriber per month.

The country's largest carmaker Maruti Suzuki reported a net loss of&nbsp;₹249 crore&nbsp;in the June quarter as against a net profit of&nbsp;₹1,435 crore in the corresponding quarter of the previous year. This is the company's first quarterly loss&nbsp;in more than a decade.
As per the exchange filing, revenue from operations declined 79% year-on-year to&nbsp;₹4,106&nbsp;crore. Net sales declined 80% to&nbsp;₹3,677 crore as against&nbsp;₹18,735 cr in the year-ago period.
A large part of the quarter had zero production and zero sales in compliance with a lockdown&nbsp;stipulated by the government, the company said.
The company sold a total of 76,599 vehicles during the quarter. Sales in the domestic market stood at 67,027 units. Exports were at 9,572 units.

Markets plunged to end in the red on Wednesday led by heavy losses in auto and IT sector stocks.
The Sensex&nbsp;slumped over 420 points to close at 38,071 and the Nifty fell almost 100 points to close a little above 11,200.
Reliance, M&amp;M, HCL&nbsp;Tech, Nestle India and Hero Moto&nbsp;Corp were the top market draggers.
The Indian rupee gained 4 paise to settle at 74.80 against the greenback.

Stock markets opened slightly higher on Wednesday amid mixed Asian peers and an upside move in pharma and banking stocks. US markets, however, ended the session on a weak note.
At 9:20 am, the Sensex was 58 points higher and the Nifty was trading above 11,300, up 0.10%.
IndusInd&nbsp;Bank, Ultratech&nbsp;Cement, Infratel, Grasim&nbsp;and Tata&nbsp;Motors were the top gainers. Whereas, Adani&nbsp;Ports, HCL&nbsp;tech, Infosys, RIL and Shree&nbsp;Cements were the top Nifty losers.

Indian stock markets&nbsp;rallied on Tuesday following strong&nbsp;gains in auto, IT and metals stocks as most of the corporates&nbsp;posted better than expected quarterly results.
The Sensex jumped 558 points and the Nifty ended the session above 11,300-level after surging 1.52%.
Ultratech&nbsp;Cement, Kotak&nbsp;Bank, TCS, Grasim and Tata&nbsp;Motors were the top contributors to the index rally.
The Nifty Auto index surged 3.21%, followed by Nifty IT and Nifty Metal, surging over 2% each.
The Indian rupee settled for the day nearly flat at 74.84 against the greenback.

India Inc's borrowing from foreign market slipped over 81% to $1.02 billion in June this year as against $5.40 billion last year, data from Reserve Bank of India showed.
Of the total funds raised by the Indian companies, $851.81 million was borrowed through the automatic route, while the rest of the funds came in via the approval route, as per the RBI data on external commercial borrowings.
State-owned REC was the only company to raise $170 million through the approval route of ECB for on-lending&nbsp;purposes.

Gold futures rose 0.6% to a new record high of&nbsp;₹52,410 per 10 gram on Tuesday. Silver futures on MCX advanced 2% to&nbsp;₹67,000 per kg.&nbsp;
In global markets, gold continued its record-breaking rally as investors bet that the US Federal Reserve will continue with its accommodative monetary policy.

Equity benchmarks moved higher in the opening&nbsp;session on&nbsp;Tuesday following a sharp rise in auto and IT stocks. Most Asian markets were in the green and US markets also closed higher.
At 9:30 am, the Sensex was 239 points higher at 38,174 and the Nifty was trading around 11,200, up 0.61%.
Tech Mahindra, Tata&nbsp;Motors, Hero Moto&nbsp;Corp, IndusInd&nbsp;Bank and BPCL were the top Nifty movers.
&nbsp;
&nbsp;

Indian equities ended Monday in the red led by a heavy decline in banking and financial stocks.
The Sensex&nbsp;ended 194 points down and the Nifty slumped 0.56% to close the trade at 11,131.
ICICI Bank, Zee, HDFC&nbsp;Bank, Axis Bank and IndusInd&nbsp;Bank were the top losers.
The rupee pared its initial gains and settled on a flat note at 74.83 to the US dollar.

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Markets open lower; Sensex down 60 pts, Nifty at 11,074

Jul 31, 2020 10:55 IST

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