Opening bell: Equity indices trade 1% lower, Bandhan Bank dips by 9.8%

Equity benchmark indices were on a weak wicket during early hours on August 03 tracking Asian peers as the global surge of new coronavirus cases showed no sign of abating. At 10:15 am, the BSE SandP Sensex was down by 416 points or 1.11 per cent at 37,191 while the Nifty 50 slipped by 113 points or 1.02 per cent at 10,961.Except for Nifty metal and auto, all sectoral indices at the National Stock Exchange were in the red with Nifty private bank down by 2 per cent, financial service by 1.3 per cent and realty by 1.1 per cent. Among stocks, shares of Bandhan Bank slid by 9.8 per cent to Rs 311.30 per share after reports said that its 34.56 crore shares -- or 21.5 per cent of total equity -- exchanged hands in 27 large trades. IndusInd Bank was down by 3.7 per cent, Kotak Mahindra Bank by 3.1 per cent, Axis Bank by 1.8 per cent and HDFC Bank by 1.7 per cent. Bajaj Finance too slipped by 1.7 per cent at Rs 3,194.95 per share. The other prominent losers were UPL, HDFC Life, ONGC and Cipla.

Equities on downward swing, Reliance cracks by 1.8 pc

Equity benchmark indices closed marginally lower on Friday in line with Asian peers following a record contraction in economic data from the United States. The BSE SandP Sensex was down by 129 points or 0.34 per cent at 37,607 while the Nifty 50 slipped by 29 points or 0.26 per cent at 11,073. Sectoral indices at the National Stock Exchange were mixed with Nifty pharma gaining by 3.5 per cent and PSU bank by 1.4 per cent. But Nifty financial service, private bank and auto were in the red. Among stocks, Reliance Industries lost by 1.84 per cent to Rs 2,070 per share on profit-booking, a day after it reported over 30 per cent jump in Q1 net profit at Rs 13,248 crore. Eicher Motors slipped by 2.7 per cent, Bajaj Auto by 1.6 per cent and Hero MotoCorp by 1.2 per cent. HDFC Bank, HDFC and HDFC Life lost by 1.6 per cent, 1.3 per cent and 1.2 per cent respectively. The other prominent losers were Kotak Mahindra Bank, Wipro and Asian Paints. However, Sun Pharma moved up 5.4 per cent to close at Rs 537.80 per share while Cipla witnessed a gain of Rs 5.1 per cent. JSW Steel, State Bank of India, Axis Bank, HCL Technologies and Tata Motors too traded in the green. Meanwhile, Asian shares slid as abysmal economic data from the United States and rising global COVID-19 cases weighed on sentiment. US GDP collapsed at a 32.9 per cent annualised rate in the second quarter, the deepest decline on record, while jobless claims rose last week. Japan's Nikkei dropped by 2.82 per cent, Hong Kong's Hang Seng by 0.47 per cent and Seoul's Kospi by 0.78 per cent.

Equity indices in red, pharma and banking scrips dip

Equity benchmark indices slipped during early hours on Monday mainly due to losses witnessed in pharma and banking stocks. At 10:15 am, the BSE SandP Sensex was down by 271 points or 0.71 per cent at 37,858 while the Nifty 50 slipped by 94 points or 0.84 per cent at 11,101. Except for Nifty IT which moved up by 0.3 per cent, all sectoral indices at the National Stock Exchange were in the red with Nifty pharma, PSU bank and private bank down by over 2 per cent each while financial service slipped by 1.8 per cent and auto by 1 per cent. Among stocks, ICICI Bank lost by 3.7 per cent to Rs 367.35 per share despite its Q1 FY21 profit showing a growth of 36 per cent at Rs 2,599 crore. HDFC Bank was down by 2.9 per cent, IndusInd Bank by 1.8 per cent, Axis Bank by 1.5 per cent and State Bank of India by 1.8 per cent. Pharma giants Sun Pharma and Cipla were down by 1.9 per cent each.

Equity indices on upswing, HDFC Bank gains 4 pc post Q1 results

Equity benchmark indices were up by nearly 1 per cent during early hours on July 20 following handsome gains by private banks. At 10:15 am, the BSE SandP Sensex was up by 376 points or 1.02 per cent at 37,396 while the Nifty 50 edged higher by 107 points or 0.99 per cent at 11,009. Except for Nifty pharma which slipped by 1.25 per cent and FMCG which was down by 0.2 per cent, all sectoral indices at the National Stock Exchange were in the positive terrain with Nifty private bank and financial service up by 2.2 per cent, PSU bank by 1.9 per cent and IT by 1.2 per cent. Among stocks, HDFC Bank surged by 4.07 per cent to Rs 1,143.20 per share after the private sector lender reported nearly 20 per cent jump in its Q1 net profit at Rs 6,659 crore.

Sensex crashes by 667 points, Bandhan Bank dips by 10 pc

Equity benchmark indices cracked by over 1.5 per cent on Monday as investors fretted over the economic consequences of surging new coronavirus cases across the world. At the closing bell, the BSE SandP Sensex was down by 667 points or 1.77 per cent at 36,940 while the Nifty 50 slipped by 174 points or 1.57 per cent at 10,900. Most sectoral indices at the National Stock Exchange were in the red with Nifty private bank down by 2.9 per cent, financial service by 2.2 per cent and realty by 1.2 per cent. Among stocks, shares of Bandhan Bank slid by 10.6 per cent to Rs 308.65 per share after reports said that its 34.56 crore shares -- or 21.5 per cent of total equity -- exchanged hands in 27 large trades.

Equities flat in early choppy trade, IT and pharma stocks in focus

Equity benchmark indices wobbled between gains and losses during early hours on July 31 in line with Asian peers following a record contraction in economic data from the United States. At 10:15 am, the BSE S-P Sensex was down by 113 points or 0.3 per cent at 37,623 while the Nifty 50 slipped by 31 points or 0.28 per cent at 11,071.Except for Nifty financial service, all sectoral indices at the National Stock Exchange were in the green with Nifty IT gaining by 1.8 per cent and pharma by 1.5 per cent. Among stocks, HCL Technologies ticked up by 2.8 per cent to Rs 715.05 per share while Tata Consultancy Services was up by 2.2 per cent and Infosys by 2 per cent. Cipla traded 3 per cent higher at Rs 706.40 per share. State Bank of India advanced by 2.5 per cent, ICICI Bank by 1.8 per cent, IndusInd Bank by 1.5 per cent and Axis Bank by 1.3 per cent. However, India's largest company in terms of market cap Reliance Industries lost by 2.5 per cent to Rs 2,055.80 per share on profit-booking, a day after it reported over 30 per cent jump in Q1 net profit at Rs 13,248 crore.

'Make 2G a part of history': Mukesh Ambani as India marks 25 years of mobile

Reliance Industries Limited chairman Mukesh Ambani shared a special message on Thursday as India celebrated its 25th anniversary of mobile telephony. Ambani said that affordability has been of the major achievements of the Indian mobile telephony. “First mobility has become affordable beyond all expectations. In 1995, the cost of a per-minute call from one cell phone was 24 rupees. 16 rupees for the caller and eight rupees for the called. Now, voice calls are free, without any time limit,” he said. He also said affordability also paved the way for ceasing a rich man’s monopoly over it. “Second, because mobility became affordable it also became democratic it ceased to be a rich man's monopoly, long ago. Indeed, no other technological tool in human history has erased the rich, poor, divide the way mobile telephony has.” “This is also an occasion for us to look at the obstacles that have prevented Indian consumers and Indian society from fully benefiting from the digital revolution. Here I specifically referred to the fact that India still has 300 million mobile subscribers trapped in the 2G era,” he said adding, “I think necessary policy steps should be taken with utmost urgency to make 2G a part of history.”

Steps should be taken to scrap 2G: Mukesh Ambani

Reliance Industries Ltd Chairman Mukesh Ambani on July 31 extended his congratulations to Department of Telecommunications and Cellular Operators Association of India for commemorating the silver jubilee of mobility in India. During his interaction, Ambani urged Union Communications Minister RS Prasad to make 2G a part of history by taking some policy steps in utmost urgency. "300 millions mobile subscribers trapped in 2G era," he said.