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MARKET LIVE: Indices range-bound, Sensex in red; IT stocks decline
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Topics
MARKET LIVE | Markets | YES Bank
SI Reporter |
Last Updated at July 29, 2020 11:49 IST
EVENT HIGHLIGHTS
Photo: Kamlesh Pednekar
The Indian markets were trading with slight cuts in Wednesday's range-bound trade, weighed down by information technology (IT) stocks.
The S&P BSE Sensex dipped 100 points to 38,400 levels, having earlier risen to 38,600 levels, and the Nifty50 index slipped below the 11,300-mark. IndusInd Bank surged as much as 7 per cent after he bank got an approval to raise Rs 3,288 crore through preferential issue of fully paid-up shares. Besides, YES Bank also rose 3 per cent higher after the announcement of its June quarter results.
On the other hand, Reliance Industries slipped 1 per cent in early deals.
The Nifty sectoral indices were trading mixed, with the Nifty IT index, down 1 per cent, leading the list of losers.
The broader markets performed relatively better, with the S&P BSE MidCap index and SmallCap index trading 0.5 per cent and 0.7 per cent higher, respectively.
Results today
The S&P BSE Sensex dipped 100 points to 38,400 levels, having earlier risen to 38,600 levels, and the Nifty50 index slipped below the 11,300-mark. IndusInd Bank surged as much as 7 per cent after he bank got an approval to raise Rs 3,288 crore through preferential issue of fully paid-up shares. Besides, YES Bank also rose 3 per cent higher after the announcement of its June quarter results.
On the other hand, Reliance Industries slipped 1 per cent in early deals.
The Nifty sectoral indices were trading mixed, with the Nifty IT index, down 1 per cent, leading the list of losers.
The broader markets performed relatively better, with the S&P BSE MidCap index and SmallCap index trading 0.5 per cent and 0.7 per cent higher, respectively.
Results today
A total of 180 companies are scheduled to announce their quarterly earnings today. Analysts expect Bharti Airtel to post a loss of as much as Rs 318.9 crore as compared to Rs 5,236.9 crore loss reported in Q4FY20. Revenue growth for the quarter, however, is likely to remain flat with India non-wireless revenues traction remaining robust. READ MORE
Maruti Suzuki is expected to report a net loss of up to Rs 750 crore led by a massive decline in volumes due to the Covid-19-triggered lockdown. READ MORE
Analysts would today watch out InterGlobe Aviation-run IndiGo's cash flows in the April-June quarter of FY21 (Q1FY21) and further fund-raising plans READ MORE
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