Saturday, 20 July 2019

MARKET LIVE: Sensex slips 500 pts, Nifty below 11,450; auto, pharma drag – Business Standard

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https://mybsin/2X7clnH EVENT HIGHLIGHTS Benchmark indices are trading at day’s low in Friday’s afternoon session, with both the S&P BSE Sensex and Nifty50 tumbling almost 1 per cent While all the sectors are facing selling pressure, auto and PSU bank stocks are the worst-hit The S&P BSE Sensex tumbled 372 points, or 096 per cent, to 38,526, with Bajaj Finance, Tech Mahindra, Hero MotoCorp, Mahindra & Mahindra, and Tata Motors leading the list of losers The broader Nifty50 index slipped 117 points, or 11 per cent, to 11,480 All the Nifty sectoral indices were trading in the red Nifty Auto index slipped the most 2 per cent, while Nifty PSU Bank was down 18 per cent In the broader market, the S&P BSE MidCap index was hovering around 14,224 levels, down 139 points, or 097 per cent, and the S&P BSE SmallCap index dipped 165 points, or 121 per cent, to 13,393 RESULTS TODAY Reliance Industries and InterGlobe Aviation, IndiGo’s parent company, are among the 27 companies scheduled to announce their June quarter earnings today Analysts say Reliance Industries’ operating profit may take a hit in this quarter CLICK HERE TO READ THE FULL RESULTS PREVIEW As for InterGlobe Aviation, investors would hope for more clarity, and perhaps a truce between two promoter groups – Rahul Bhatia and Rakesh Gangwal READ THE FULL INDIGO RESULTS PREVIEW HERE BUZZING STOCKS ACC shares rose 5 per cent to Rs 1,647 on the BSE in Friday’s early morning deal after the company reported a better-than-expected 39 per cent year-on-year (YoY) growth in consolidated net profit at Rs 456 crore in June quarter (Q2CY19) on the back of higher realisation The cement company had a profit of Rs 329 crore in the same quarter last year

READ MORE Shares of Maruti Suzuki India (MSIL) hit an over two-year low of Rs 5,790, down 2 per cent, in intra-day trade on Friday.

The passenger vehicle company’s stock has slipped 6 per cent in the past three trading days on the BSE, on concerns of weak earnings amid a low volume in the April-June quarter (Q2FY19) READ MORE CATCH ALL THE LIVE UPDATES Auto Refresh

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