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  • Mid-Session - Detailed News
Positive market breadth
23-Jul-19   10:24 Hrs IST

Key benchmark indices bounced back from early low in morning trade. At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 50.64 points or 0.13% at 38,081.77. The Nifty 50 index was up 8.50 points or 0.07% at 11,354.70.

The S&P BSE Mid-Cap index was down 0.23%. The S&P BSE Small-Cap index was up 0.30%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 984 shares rose and 727 shares fell. A total of 87 shares were unchanged.

Zee Entertainment Enterprises (down 0.89%), Larsen & Toubro (down 0.41%) and Hindustan Unilever (up 0.11%) are some of the major earnings to watch out for today.

Most IT shares rose. Infosys (up 2.32%), Wipro (up 2.04%), MindTree (up 1.62%), MphasiS (up 1.13%), Oracle Financial Services Software (up 1.05%), Hexaware Technologies (up 0.67%), TCS (up 0.45%), Tech Mahindra (up 0.35%) and Persistent Systems (up 0.1%) advanced. HCL Technologies was down 0.16%.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 69.01, compared with its close of 68.9275 during the previous trading session.

Most realty shares rose. Unitech (up 4.63%), Oberoi Realty (up 4.05%), Sobha (up 3.65%), D B Realty (up 2.99%), Mahindra Lifespace Developers (up 2.99%), Godrej Properties (up 2.93%), Peninsula Land (up 2.66%), DLF (up 1.06%), Housing Development and Infrastructure (HDIL) (up 0.37%), Prestige Estates Projects (up 0.28%) and Omaxe (up 0.15%) advanced.

Parsvnath Developers (down 4.84%), Phoenix Mills (down 1.97%), Indiabulls Real Estate (down 1.55%), Sunteck Realty (down 1.07%) and Anant Raj (down 0.17%) declined.

VA Tech Wabag was up 4.49%. The company during market hours today, 23 July 2019, announced that it has secured a Rs 1,187 crore worth order from Bihar Urban Infrastructure Development Corporation (BUIDCO) under the prestigious National Mission for Clean Ganga (NMCG) Scheme to develop sewage treatment plants (STP) of 150 MLD capacity along with sewerage network of over 450 km in the Digha and Kankarbagh zones of Patna, one of the most populous cities on the banks of River Ganga. This project comprises of a design, build and operate (DBO) scope worth Rs 940 crore and hybrid annuity scope worth around Rs 247 crore.

Coromandel International was down 3.64% after the company announced its Q1 June 2019 results after market hours yesterday, 22 July 2019. On a consolidated basis, Coromandel International's net profit fell 30.8% to Rs 62.43 crore on a 15.7% fall in the net sales to Rs 2130.74 crore in Q1 June 2019 over Q1 June 2018.

Kirloskar Ferrous Industries was up 1.13% after the company announced its Q1 June 2019 results after market hours yesterday, 22 July 2019. Kirloskar Ferrous Industries' net profit rose 75.8% to Rs 18.39 crore on a 2.9% fall in the net sales to Rs 481.99 crore in Q1 June 2019 over Q1 June 2018.

Cupid hit 20% upper circuit at Rs 130.55 after the company announced its Q1 June 2019 results after market hours yesterday, 22 July 2019. Cupid's net profit rose 82.1% to Rs 8.16 crore on a 97.5% rise in the net sales to Rs 34.13 crore in Q1 June 2019 over Q1 June 2018.

Alphageo (India) was up 3.40%. The company after market hours yesterday, 22 July 2019, announced that it has received an initial contract for carrying out gravity, magnetic & resistivity survey for manganese ore in Rengali Block, Odisha with an estimated contract value of Rs 0.72 crore (exclusive of taxes) from the Mineral Exploration Corporation.

NIIT Technologies (up 0.01%), Torrent Pharmaceuticals (down 0.84%), Bayer Cropscience (down 0.23%), Crisil (up 2.42%), DCM Shriram (up 0.80%), Everest Industries (up 1.56%), HDFC Life Insurance Company (down 0.76%), HT Media (down 0.76%), JK Paper (up 2.05%), Jyothy Labs (down 0.67%), Kajaria Ceramics (down 1.87%%), Linde India (down 0.29%), Mahindra & Mahindra Financial Services (down 1.61%%), Mahindra EPC Irrigation (up 1.46%%), Oriental Hotels (down 1.62%), Poddar Pigments (down 3.26%), Praj Industries (up 1.19%), Rushil Decor (5%), Saven Technologies (down 12.50%), SBI Life Insurance Company (up 1.61%), Schaeffler India (down 0.55%), Shanthi Gears (up 1.01%), SKF India (up 0.47%), Sundaram Clayton (up 0.85%), Elantas Beck India (up 0.95%), GE Power India (up 0.98%) and Indian Overseas Bank (down 0.43%) will announced their Q1 June 2019 results today.

DHFL (up 3.23%), Dish TV (down 1.63%), IDBI Bank (0%) and Reliance Infrastructure (up 2.09%) are currently under F&O ban. Reliance Capital (up 4.23%) is out of the F&O ban. F&O ban was imposed after these contracts crossed 95% of the market-wide position limit in derivatives market.

Overseas, most Asian Stocks were trading higher on Tuesday, following overnight gains on Wall Street amid better-than-expected earnings.

U.S. stock-market indexes closed higher Monday, as investors adjusted expectations around a widely anticipated rate cut by the Federal Reserve at the end of the month and began wading through a sea of corporate results after a strong start to earnings season. Investors are awaiting quarterly earnings from marquee companies Facebook, Alphabet and Amazon later this week.

U.S.-China trade negotiations were in focus, after reports that the two sides would soon meet face-to-face, with U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin traveling to Beijing next week.

In Europe, the U.K. is set to find out who its next prime minister will be this week as voting within the U.K.'s ruling Conservative Party comes to a close. The vote comes after Prime Minister Theresa May announced she would resign following repeated parliamentary rejections of the Brexit deal she struck with the EU. As such, the party leadership race has focused on how each contender would deal with Brexit ahead of a new departure deadline of October 31.

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