By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Indian markets today erased the opening gains and ended flat for the second consecutive day.
Nifty went down by 0.07% or 7.95 points and closed at 11,300.45, while S&P BSE Sensex tripped down by 0.15% or 59.14 points and closed at 38,310.49.
Around 1128 shares declined, 1564 shares advanced, while 136 shares remained unchanged.
Eicher Motors (2.06%), Sun Pharma (2.10%), Bharti Airtel (2.04%), NTPC (1.58%), and HDFC Life (1.50%) were among top Nifty losers, while Tata Motors (4.59%), Hindalco (4.21%), L&T (4.39%), Titan Company (3.92%), and Bharti Infratel (3.72%) were among top Nifty gainers.
Except Banking and Pharma, all the other sectoral indices ended green. BSE Midcap went up by 1.59% while BSE Smallcap went up by 0.76%.
Lemon Tree Hotels Limited
The stocks of Lemon Tree Hotels Limited went up by 9.86% and traded at Rs.32.30 after the hotel reported better than expected operating profits for the June quarter.
Shoppers Stop Limited
The retail chain reported a YoY net loss of Rs.120.3 crore while the revenue of the company declined by 93.6%. Despite the decline, the stocks of the company went up by 6.40% and traded at Rs.175.30 in today’s trading session.
Power Finance Corporation Limited
The consolidated net profit of the company for the first quarter of the FY21 rose by 22.9% while the revenue of the organization was up by 15.6%. As a result, the stocks of the company went up by 3.82% and traded at Rs.95.15.
Aurobindo Pharma Ltd
Despite reporting decent earnings for the first quarter of the FY21, the stocks of the company tripped down by 5.63% and traded at Rs.881.60. The company’s consolidated net profit went up by 22.8% while the revenue during the first quarter rose by 8.8%.
Cummins India Limited
The company reported a decline of 65% in its consolidated net profit for the first quarter of the FY21 while the domestic sales were down by 64%. Despite the fall the stocks of the company went up by 3.30% and traded at Rs.437.00.
Galaxy Surfactants Limited
The company reported a 8.7% YoY degrowth in the consolidated revenues for the first quarter of the FY21 while the net profits of the company were up by 7.5%. The stocks of the company surged by 9.44% and traded at Rs.1,890.00.
DB Corp Limited
Despite a decline of 65.3% in the revenue and a consolidated net loss of Rs.48 crore during the first quarter of the FY21, the stocks of the company traded higher. The company’s stock price went up by 3.04% and traded at Rs.81.25.
Indian Rupee
Indian rupee ended flat in today’s trading session at Rs.74.83 against the US Dollar amid the volatile domestic equity markets.
Mixed Global Markets Cues
Asian stocks surged in today’s trading session owing to a steady rise in COVID-19 cases and jump in the US inflation which resulted in positive sentiments among the investors. Nasdaq went up by 2.13%, Nikkei 225 surged by 1.78%, while Hang Seng declined by 0.05%. European markets however traded lower as FTSE MIB declined by 0.16% while FTSE 100 declined by 1.11%.
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