- South Indian Bank falls: Shares of South Indian Bank plunged 18 percent on Monday morning as investors turned wary of a fall in its net profit.
The stock touched an intraday high of Rs 20.60 and an intraday low of Rs 18.45.
The Kerala-based South Indian Bank declared a net profit of Rs 23.04 crores for the first quarter of the financial year 2018-19 as against Rs 101.47 crore during the corresponding period last year.
Jul 23, 09:53 AM (IST)
GST rate cut: Consumer durable stocks soar 5-8% post tax-related announcements
Share price of consumer durable stocks were trading higher in early trade on Monday on the back Goods and Services Tax (GST) Council decision to slash rates on a host of items in its Saturday meeting.
Jul 23, 09:35 AM (IST)
HDFC Bank falls: Shares of HDFC Bank fell over 2 percent on Monday morning as investors reacted to the fine-print of the June quarter results announced by the lender.
The stock touched an intraday high of Rs 2,160.00 and an intraday low of Rs 2,139.95.
The country’s largest private sector lender (by market capitalization) posted an 18.2 percent year-on-year (YoY) increase in its first quarter net profit at Rs 4,601.44 crore missing expectations on the back of lesser than expected growth in interest income.
The bank had posted standalone net profit of Rs 3,893.84 crore for Q1FY18. A Reuters poll of equity analysts had expected HDFC bank to post a 23 percent increase in its first quarter net profit at Rs 4,785.3 crore.
Jul 23, 09:19 AM (IST)
Market Opens: The market has begun the day on a positive note, with the Nifty trading well above 11,000-mark.
The Sensex is up 70.13 points or 0.19% at 36566.50, while the Nifty is up 28.30 points or 0.26% at 11038.50. The market breadth is narrow as 319 shares advanced, against a decline of 144 shares, while 61 shares are unchanged.
All sectoral indices are trading in the green, with maximum buying seen among FMCG, financials as well as metal stocks. In the broader markets, the midcap index is up around one-tenth of a percent.
Shares of UPL are trading higher by over 3 percent after the company announced an acquisition on Friday.
Jul 23, 09:08 AM (IST)
Rupee opens: The Indian rupee gained in the early trade on Monday. It has opened higher by 14 paise at 68.70 per dollar versus previous close 68.84.
The dollar-rupee July contract on the NSE was at 68.92 in the previous session. July contract open interest declined 1.39 percent in the previous day, said ICICIdirect.
We expect the USD-INR to meet supply pressure at higher levels. Utilise upsides in the pair to initiate short positions, it added.
Jul 23, 09:03 AM (IST)
Market at pre-open: It’s a flat start to the market in pre-opening session, with the Nifty holding 11,000-mark.
At 09:01 hrs IST, the Sensex is up 42.28 points or 0.12% at 36538.65, and the Nifty up 46.60 points or 0.42% at 11056.80.
Jul 23, 08:58 AM (IST)
What changed for the market while you were sleeping? 10 things to know
Index has got stuck in between 10,923 to 11,078 zones from last eight trading sessions and requires a range breakout to commence the next leg of rally, experts said, adding the flat close on week on basis with a Doji candle which indicates a tug of war while decline is being bought in the market.
Jul 23, 08:48 AM (IST)
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