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MARKET LIVE: Sensex dips 150 points, Nifty below 11,200; RIL gains 4%
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MARKET LIVE | Markets | HDFC Bank
SI Reporter |
Last Updated at July 24, 2020 10:13 IST
EVENT HIGHLIGHTS
The Indian markets slipped half a per cent on Friday, dragged down primarily by financials, tracking weak global cues.
The S&P BSE Sensex dipped 150 points to 37,980 levels and the Nifty50 index was hovering around 11,150-mark. Asian Paints and State Bank of India (both down 2%) were the top Sensex laggards. On the other hand, Reliance Industries was trading over 4 per cent higher on reports that Amazon is in talks to buy a 9.9 per cent stake in its retail arm. Sun Pharma also rose as much as 3 per cent in early deals.
The S&P BSE Sensex dipped 150 points to 37,980 levels and the Nifty50 index was hovering around 11,150-mark. Asian Paints and State Bank of India (both down 2%) were the top Sensex laggards. On the other hand, Reliance Industries was trading over 4 per cent higher on reports that Amazon is in talks to buy a 9.9 per cent stake in its retail arm. Sun Pharma also rose as much as 3 per cent in early deals.
Meanwhile, Biocon was trading with marginal gains after announcing its June quarter results while Mphasis rose over 5 per cent after announcing its quarterly numbers.
Barring the Nifty Pharma index -- up 1 per cent -- the trend among Nifty sectoral indices was negative, led by Nifty Bank index, down over 1 per cent.
Results today
Today, a total of 71 companies including ITC, Asian Paints, and Ambuja Cements are scheduled to announce their quarterly results. For ITC, a steep decline in its cigarette and hotel businesses due to the disruptions caused by the Covid-19 pandemic is expected to dent the June quarter earnings. READ MORE
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