Post-Session: Sensex ends lower on lukewarm quarterly results Analysis for Jul 24, 2015

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The Indian benchmarks ended on a negative note as investors remained cautious on lukewarm quarterly earnings as well as lack of progress in the passage of key reforms in the Monsoon session of Parliament. Meanwhile, fears of interest rate hike by the Fed on strong US jobs data amid weakness among the global peers dampened the sentiments.

Rate sensitive stocks ended cautiously ahead of the RBI monetary policy as the insufficient monsoon and rise in inflation has dampened the possibility of a rate cut. Metal shares ended lower after the flash Caixin/Markit China Manufacturing Purchasing Managers' Index (PMI) dropped to 48.2, below economists' estimate for a reading of 49.7 and the lowest reading since April last year.

However, consumer durables ended higher on hopes that GST Bill would be passed in the current monsoon session of parliament. Consumer Durables sector will be the biggest beneficiary of the GST. The BSE SENSEX closed at 28112.31, down by 258.53 points or by 0.91 per cent and then NSE Nifty was at 8521.55, down by 68.25 points or by 0.79 per cent.

The BSE MIDCAP was at 11147.99, down by 68.2 points or by 0.61 per cent while the BSE SMLCAP was at 11668.12, down by 68.01 points or by 0.58 per cent.

Wipro posted a 4 per cent rise in its net profit to Rs 2,187.8 crore when compared with the corresponding quarter in 2014-15. The revenue at Rs 12,237 crore rose 10 per cent. On a sequential basis, net profit declined by 3.7 per cent while revenue was largely flat when compared with Rs 12,142 crore in Q4 of FY15. The stock is down by 3.73 per cent

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 835.75,+0.99 per cent), Hero MotoCorp Ltd. (Rs. 2738.20,+0.88 per cent), Cipla Ltd. (Rs. 678.30,+0.68 per cent), Tata Consultancy Services Ltd. (Rs. 2503.75,+0.64 per cent), Hindalco Industries Ltd. (Rs. 109.05,+0.46 per cent), among others.

The top losers of the BSE Sensex pack were ICICI Bank Ltd. (Rs. 300.50,-3.96 per cent), Wipro Ltd. (Rs. 566.45,-3.73 per cent), Lupin Ltd. (Rs. 1672.00,-3.27 per cent), Tata Motors Ltd. (Rs. 391.15,-2.54 per cent), GAIL (India) Ltd. (Rs. 361.05,-2.34 per cent), among others.

The top gainers of the NSE Nifty pack were Mahindra & Mahindra Ltd. (Rs. 511.05,+2.20 per cent), Bank of Baroda (Rs. 155.75,+1.96 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 836.20,+0.89 per cent), Hero MotoCorp Ltd. (Rs. 2740.40,+0.84 per cent), Cipla Ltd. (Rs. 678.10,+0.73 per cent), among others.

The top losers of the NSE Nifty pack were ICICI Bank Ltd. (Rs. 300.60,-3.93 per cent), Wipro Ltd. (Rs. 566.75,-3.79 per cent), Lupin Ltd. (Rs. 1672.10,-3.25 per cent), Tata Motors Ltd. (Rs. 390.25,-2.77 per cent), State Bank of India (Rs. 263.25,-2.52 per cent), among others.

Among the thirteen sectoral indices, capital goods index was leading the decline and closed at 18134.85, down by 289.07 points or by 1.57 per cent led by Crompton Greaves Ltd. (Rs. 182.30,-4.93 per cent), Alstom T&D India Ltd. (Rs. 561.65,-2.85 per cent), SKF India Ltd. (Rs. 1337.40,-2.69 per cent), ABB India Ltd. (Rs. 1368.40,-2.68 per cent), Sadbhav Engineering Ltd. (Rs. 305.20,-2.38 per cent).

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of total shares traded 2894, shares advanced were 1231 while 1557 shares declined and 106 were unchanged.

Story first published: Friday, July 24, 2015, 16:48 [IST]
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