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Source: https://stockarchitect.com/sector/Aluminium
Indices pare gains, Sensex ends 70 points higher; Airtel up 9%
Equity market ended an action-packed day in the positive territory on Friday, though the benchmark indices trimmed most of their gains towards the end of the session. Shares of telecom companies – Vodafone Idea and Bharti Airtel surged amid hopes that the government would step in to help the ailing sector, a day after the two companies reported a combined loss of Rs 74,000 crore and warned their ability to operate and make profits would depend on relief from the country.
Besides, rally in PSU banks post Supreme Court ruling in Essar Steel case and reports that important trade issues between India and the US have been resolved and the countries may sign initial trade package boosted investor sentiment. That apart, US-China trade deal hopes, too, cheered market particpants.
The S&P BSE Sensex ended 70 points or 0.17 per cent higher at 40,356.69. During the day, the index hit a high and low of 40,650.06 and 40,308.09, respectively. Bharti Airtel (up around 8.50 per cent) emerged as the biggest gainer on the index while Hero MotoCorp (down nearly 2 per cent) was the top laggard.
SBI, Bharti Airtel, HDFC Bank, Reliance Industries (RIL), and Sun Pharma contributed the most to the index’s gains while ITC, TCS and Maruti were the top drags. In the broader market, the S&P BSE MidCap index ended at 14,773 levels, up 93 points or 0.63 per cent while the S&P BSE SmallCap index slipped 17 points or 0.13 per cent to end at 13,326.40.
On the NSE, the Nifty50 index added 23 points or 0.20 per cent to end at 11,895.30 levels.
Sectorally, PSU bank stocks advanced the most. Pharma counters came second on the list. Nifty PSU Bank index climbed 3.50 per cent to 2,462.75 levels. On the other hand, auto stocks bled the most with the Nifty Auto index falling 0.54 per cent to 8,146.65 levels.
Volatility guage India VIX declined over 4 per cent to 14.96 levels.
On a weekly basis, Sensex added 0.08 per cent while Nifty lost 0.10 per cent.
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Sensex slides 330 points on Moody’s downgrade; Sun Pharma down 4%
Equity market was highly volatile in the afternoon session on Friday with the benchmark indices oscillating berween the positive and negative territories after Moody’s Investors Services downgraded India’s sovereign outlook from ‘stable’ to ‘negative’, saying concerns mount the economic slowdown will be prolonged and debt will rise.
After hitting a fresh record high of 40741.69 levels during the session, the frontline S&P BSE Sensex was trading around 100 points lower. Private Banks were trading higher, with ICICI Bank, IndusInd Bank and YES Bank up in the range of 3-7 per cent. On the downside, Sun Pharma was trading nearly 3 per cent lower.
On the NSE, the Nifty50 slipped below the crucial 12,000-mark to hover around 11,950 levels. .
Sectorally, Nifty Realty index was the top gainer, up 2.3 per cent, followed by gains in Nifty Private Bank (up 0.74 per cent), and Nifty Auto (up 0.58 per cent) indices. On the flipside, Nifty Pharma and FMCG indices, each, were trading over a per cent lower.
The broader markets, however, were trading in the green. The S&P BSE mid-cap index was up 0.06 per cent, while the S&P BSE small-cap index was up 0.12 per cent.
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Sensex up 36 points, Nifty ends at 11,899.50; Dish TV jumps 29%
Indices were highly volatile in the afternoon deals on Friday.
The benchmark S&P BSE Sensex was trading at 40,075 level. IndusInd Bank was the top performer on the index, up 4 per cent, while YES Bank was trading over 6 per cent lower ahead of its Q2 results. On NSE, the Nifty50 was trading at 11,850-mark.
Sectorally, Nifty Auto and IT indices were trading in the red. NIfty ITl index was the top loser, down 0.35 per cent. On the upside, Nifty PSU Bank, and Realty indices were trading over 1 per cent higher.
In the broader market, both S&P BSE mid and small-cap indices were trading 0.3 per cent higher.
Bank of India, Dr Reddy’s Lab, JK Lakshmi Cement, and YES Bank are among the 33 companies scheduled to report their Q2 earnings on Friday.
Analysts expect Yes Bank to report a loss up to Rs 1,907.3 crore due to exposure to bankrupt companies like DHFL, McLeod Russel, and Cox & Kings. However, all eyes would be on the Board’s decision with regards to the receipt of a binding offer worth $1.2 billion by a global investor.
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