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As on Aug 14, 2020 12:00 AM Your results on : Mid Session    
Market tumbles amid steep selling; breadth turns weak
14-Aug-2020 (14:31)

In a sudden reversal, the domestic equity benchmarks slumped and hit fresh intraday low in mid-afternoon trade. At 14:28 IST, the barometer index, the S&P BSE Sensex slumped 512.73 points or 1.43% at 37,797.76. The Nifty 50 index lost 149.10 points or 1.32% at 11,151.35.

Investors were cautious ahead of the Supreme Court hearing in the adjusted gross revenue (AGR) case later in the day. The hearing is expected to begin at 3 pm today. The apex court may also give clarity on staggered payment schedule in its hearing.

Tata Teleservices (Maharashtra) (down 2.47%), Bharti Airtel (down 1.72%) and Vodafone Idea (down 1%) edged lower.

In its last hearing on 10 August, SC had adjourned its hearing in the AGR matter and had asked the Centre to prepare a plan for recovering AGR dues from bankrupt telecom operators, Reliance Communications, Aircel and Videocon Telecommunications.

Selling was broad based. The S&P BSE Mid-Cap index fell 1.48%. The S&P BSE Small-Cap index lost 1.36%.

Sellers outnumbered buyers. On the BSE, 950 shares rose and 1700 shares fell. A total of 136 shares were unchanged.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, surged 8.90% to 22.40. The Nifty August 2020 futures were trading at 11,157.80, at a premium of 6.45 points compared with the spot at 11,151.35.

Buzzing Index:

The Nifty Financial Services index fell 1.81% to 10,779.25, declining for third day in a row. The index has lost 2.3% in three sessions.

Among the index constituents, Axis Bank (down 4.33%), Power Finance Corporation (down 3.93%), ICICI Lombard (down 2.88%), ICICI Prudential Life Insurance (down 2.8%), Piramal Enterprises (down 2.65%), Bajaj Holdings (down 2.51%), Bajaj Finance (down 2.49%), SBI Life Insurance (down 2.39%), SBI (down 2.23%), HDFC Bank (down 1.81%), ICICI Bank (down 1.78%), Bajaj Finserv (down 1.73%), HDFC Life (down 1.61%) and Cholamandalam (down 1.49%) declined.

Earnings Impact:

Shriram Transport Finance slipped 1.17% to Rs 694.40. On a standalone basis, the company's net profit tanked 49.5% to Rs 320.06 crore on 2.8% increase in total income to Rs 4,144.70 crore in Q1 June 2020 over Q1 June 2019.

Net interest income (NII) for the first quarter ended 30 June 2020 declined 6.51% to Rs 1,820.35 crore as against Rs 1,947.02 crore in the same period of the previous year. Total Asset under Management as on 30 June 2020 stands at Rs 1,11,756.37 crore as compared to Rs 1,06,343.48 crore as on 30 June 2019 and Rs 1,09,749.24 crore for the year ended 31 March 2020.

The NBFC has considered an additional Expected Credit Loss (ECL) provision on account of COVID-19 of Rs 956.15 crore during the quarter ended 30 June 2020 and the company's overall provision of ECL on account of COVID-19 as on 30 June 2020 stands at Rs 1,865.79 crore.

Voltas shed 0.89% to Rs 613. The company's net profit tumbled 50.6% to Rs 82 crore on a 49.4% decline in total income to Rs 1364 crore in Q1 FY21 over Q1 FY20.

The Group's operations and financial results for the quarter ended 30 June 2020 have been impacted due to outbreak of COVID-19 pandemic and consequent lockdown. Nevertheless, the business activities were resumed gradually based on the relaxations and directives issued by various Government as well as local authorities in India and other countries where the Group has business operations, albeit constraints of workforce and availability of project sites.

MRF fell 2.17% to Rs 62,600. The tyre maker's consolidated net profit slumped 95.1% to Rs 13.46 crore on a 45% decline in revenue from operations to Rs 2,460.70 crore in Q1 June 2020 over Q1 June 2019.

Numbers to Track:

The yield on 10-year benchmark federal paper rose to 5.947% compared with previous closing of 5.895% in the previous trading session.

In the foreign exchange market, the partially convertible rupee edged higher to 74.90 compared with its previous closing 74.8475.

In the commodities market, Brent crude for October 2020 settlement lost 27 cents to $44.69 a barrel. The contract rose 1.03% or 47 cents to end at $44.96 in the previous trading session.

MCX Gold futures for 5 October 2020 settlement was down 0.74% to Rs 52,540.

The Dow Jones index futures were down 195 points, indicating a weak opening in the US stocks today.

Sensex, Nifty pare gains; Nifty holds 11,300 mark
14-Aug-2020 (13:26)
Barometers hit day's high; India VIX tumbles below 20 mark
14-Aug-2020 (12:27)
Sensex, Nifty trade in range
14-Aug-2020 (11:27)
Benchmarks trade higher; pharma shares bounce
14-Aug-2020 (10:26)
Market drifts higher in early trade
14-Aug-2020 (09:36)
Barometers trade with modest losses; media stocks rise for 4th day
13-Aug-2020 (14:29)
Nifty hovers near 11,300 mark; broader market trades firm
13-Aug-2020 (13:22)
Sensex, Nifty hit day's low; India VIX hovers below 21 mark
13-Aug-2020 (12:23)
Benchmarks hit day's high; auto stocks climb
13-Aug-2020 (11:25)
Strong market breadth
13-Aug-2020 (10:29)
Market gains on positive Asian stocks
13-Aug-2020 (09:32)
Nifty trades above 11,300; pharma stocks correct
12-Aug-2020 (14:25)
Market turns range bound
12-Aug-2020 (13:23)
Shares trade with minor cuts; auto stocks advance
12-Aug-2020 (12:33)
Sensex, Nifty further pare losses; PSU banks in demand
12-Aug-2020 (11:26)
Nifty hovers below 11,300; metal stocks correct
12-Aug-2020 (10:23)
Sensex, Nifty drop in early trade
12-Aug-2020 (09:33)
Indices turn range bound; private banks trade firm
11-Aug-2020 (14:25)
Market firms up on fresh buying support
11-Aug-2020 (13:27)
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