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(31/07/2020 14:57)

Markets in red; SBI Q1 profit jumps 81%

Domestic bourses continued to hover in red during the late noon trading session with Nifty below 11,100.

Meanwhile, Indian rupee erased some of the intraday gains but ended higher at 74.81 per dollar, amid volatile trade seen in the domestic equity market. It opened 11 paise higher at 74.74 per dollar against Thursday's close of 74.85.

Shares of State Bank of India gainer nearly 3 per cent after bank on Friday posted an 81 per cent spike in standalone net profit at Rs 4,189.34 crore for the first quarter of current fiscal as bad loans declined.

At 14:40 hours, the 30-share benchmark index was trading at 37523.97 down by -212.1 points or by -0.56 % and then NSE Nifty was at 11071.6 down by -30.55 points or by -0.28 %.

Sensex touched intraday high of 37897.78 and intraday low of 37431.68 The NSE Nifty touched intraday high of 11150.4 and intraday low of 11026.65

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 524.95,+2.94%), State Bank of India (Rs. 191.70,+2.76%), ITC Ltd. (Rs. 195.50,+1.11%), HCL Technologies Ltd. (Rs. 701.85,+0.97%), Bajaj Finance Ltd. (Rs. 3248.35,+0.93%), among others.

The top losers of the BSE Sensex pack were HDFC Bank Ltd. (Rs. 1027.05,-2.23%), Reliance Industries Ltd. (Rs. 2064.00,-2.12%), Bajaj Auto Ltd. (Rs. 2994.00,-1.77%), Hero MotoCorp Ltd. (Rs. 2662.10,-1.55%), Kotak Mahindra Bank Ltd. (Rs. 1367.20,-1.50%), among others.

Among the sectors, FMCG index was at 11462.39 up by 96.06 points or by 0.85%. Heritage Foods Ltd. (Rs. 310.80,+5.00%), Eveready Industries India Ltd. (Rs. 131.00,+4.97%), Shree Renuka Sugars Ltd. (Rs. 8.72,+4.93%), Future Consumer Ltd. (Rs. 11.15,+4.69%), Zydus Wellness Ltd. (Rs. 1634.25,+4.50%),.

Oil&Gas index was at 13126.27 down by -148.26 points or by -1.12%. Hindustan Petroleum Corporation Ltd. (Rs. 214.25,-3.97%), Reliance Industries Ltd. (Rs. 2063.80,-2.13%), Bharat Petroleum Corporation Ltd. (Rs. 412.00,-1.69%), Castrol India Ltd. (Rs. 114.05,-1.43%), Indian Oil Corporation Ltd. (Rs. 87.75,-0.90%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2985 , shares advanced were 1186 while 1601 shares declined and 198 were unchanged.