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News Details

(31/07/2020 12:30)

Mid-Session: Markets under pressure; Realty, CDS stocks weigh

Domestic bourses continued to trade lower during the noon trading session amid mixed global cues.

State Bank of India (SBI) share price gained 2 percent on July 31 ahead of its June quarter earnings. The bank is expected to see sharp spike in Q1FY21 profitability led by stake sale in life insurance business, but likely additional COVID-19 provisions may limit the growth.

The growth in net interest income could be around 10 percent year-on-year for the quarter, with loan growth at around 7 percent and stable net interest margin for the quarter.

At 12:20 hours, the 30-share benchmark index was trading at 37720.51 down by -15.56 points or by -0.04 % and then NSE Nifty was at 11094.25 down by -7.9 points or by -0.07 %.

Sensex touched intraday high of 37897.78 and intraday low of 37537.8 The NSE Nifty touched intraday high of 11150.4 and intraday low of 11049.2

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 524.00,+2.76%), ITC Ltd. (Rs. 196.80,+1.78%), State Bank of India (Rs. 189.80,+1.74%), HCL Technologies Ltd. (Rs. 704.90,+1.41%), Mahindra & Mahindra Ltd. (Rs. 604.40,+1.10%), among others.

The top losers of the BSE Sensex pack were HDFC Bank Ltd. (Rs. 1029.30,-2.01%), Hero MotoCorp Ltd. (Rs. 2659.25,-1.65%), Reliance Industries Ltd. (Rs. 2076.00,-1.55%), Housing Development Finance Corporation Ltd. (Rs. 1801.05,-0.55%), Bajaj Auto Ltd. (Rs. 3033.55,-0.47%), among others.

Among the sectors, FMCG index was at 11480.91 up by 114.58 points or by 1.01%. Zydus Wellness Ltd. (Rs. 1666.50,+6.56%), Heritage Foods Ltd. (Rs. 310.80,+5.00%), Future Consumer Ltd. (Rs. 11.15,+4.69%), Shree Renuka Sugars Ltd. (Rs. 8.70,+4.69%), Eveready Industries India Ltd. (Rs. 130.35,+4.45%),.

Realty index was at 1545.51 down by -10.4 points or by -0.67%. Indiabulls Real Estate Ltd. (Rs. 49.45,-3.23%), Sobha Ltd. (Rs. 218.00,-2.87%), Oberoi Realty Ltd. (Rs. 350.75,-1.89%), Godrej Industries Ltd. (Rs. 860.00,-1.18%), Brigade Enterprises Ltd. (Rs. 141.00,-0.70%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2696 , shares advanced were 1102 while 1438 shares declined and 156 were unchanged.