( By Aamar Deo Singh, Head Advisory, Angel Broking Ltd )
Indian markets erased intraday gains and ended flat in today’s trading session amid volatility.
Nifty went up by 0.06% or 6.40 points and closed at 11,101.65, thereby remaining above the 11,100 mark. S&P BSE Sensex, however, declined by 0.07% or 24.58 points and closed at 37,663.33.
Around 994 shares declined, 1611 shares advanced, while 152 shares remained unchanged.
Hindalco Industries (9.09%), Tata Steel (6.70%), Eicher Motors (4.82%), Adani Ports (3.83%), and Tata Motors (3.68%) were among top Nifty gainers, while UPL (1.45%), HDFC Life (1.48%), Power Grid Corp (0.98%), Reliance Industries (0.86%), and HDFC Bank (1.03%) were among top Nifty losers.
On sectrol front, metal, auto, infra, and IT sectors advanced, while energy and pharma witnessed decline. BSE Midcap went up by 0.46% and BSE Smallcap advanced by 0.91%.
Panama Petrochem
Q1 net profit of the company for the FY21 declined by 50.6% while the revenue during the period went down by 40.8%. The stocks of the company, however, went up by 2.85% and traded at Rs.41.50.
Force Motors
Force Motors’ total sale for the month of July went down by 55.7% from 2,551 units to 1,129 units. The stock of the company rose by 2.76% and traded at Rs.940.00 in today’s trading session.
Axis Bank Limited
Stocks of Axis Bank went up by 1.18% and traded at Rs.434.20 after the bank launched a QIP or Qualified Institutional Placement to raise Rs.10,000 crore.
Sun Pharma Advanced Research Company Limited
The company reported higher earnings for the first quarter of the FY21. The company announced a net profit of Rs. 56.69 crore while the revenue from operations rose to Rs.185.45 crore. The stocks of the company went up by 6.64% and traded at Rs.186.40.
Lupin Limited
The pharma company announced the launch of Favipiravir in India with the brand name Covihalt. The drug can be used for the treatment of mild to moderate COVID-19 infection. The stocks of the company, however, declined by 1.36% or Rs.928.00 in today’s trading session.
PI Industries
The company reported a rise of 43% in its consolidated net profit for the first quarter of the FY21, while the company’s revenue went up by 40%. The stocks of the company rose by 3.56% and traded at Rs.1,899.95.
EID Parry
Stocks of EID Parry went down by 3.65% and traded at Rs.294.00 despite a growth of 32.5% in the company’s consolidated revenue for the first quarter of the FY21. The consolidated net profit of the company for the period stood at Rs.29.3 crore.
India Rupee
Indian rupee traded higher at Rs.74.88 against the US Dollar amid the positive domestic equity market.
Gold
Gold prices reached a new high above Rs.54,700 on MCX in today’s trading session. The rise in price was a result of gains in the international spot prices and a weak dollar.
Positive Global Market Cues
Global markets traded higher in today’s trading session. The US markets ended higher led by the stimulus package talks. Nasdaq went up by 0.35%, FTSE MIB rose by 0.46%, FTSE 100 went up by 0.96%, Hang Seng went up by 0.62% while Nikkei 225 declined by 0.26%
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