After the poor results of Reliance Ind., investors in the stock market lost their minds

-


Mumbai: In addition to weak quarterly results of Reliance announced on Friday, mixed results of various companies for the first quarter of the current financial year also dampened investor sentiment on the first day of the week and led by Reliance led the fall in Indian stock markets on Friday. The results of sectors other than financial sector are weak. In the results announced so far for the first quarter of the financial year 2023-24, there has been an increase in the income of the companies in the financial and information technology sector, while the income of the companies in other sectors has been seen to be stable. Fearing that the market may tumble further if the quarterly results don't come in as expected, investors are currently seen booking profits at the higher end. In the last two sessions, the benchmark indices Sensex has seen a decline of more than 1000 points. The BSE Sensex fell 299.48 points to close at 66384.78 while the Nifty50 index fell 72.65 points to close at 19672.35. Market breadth remained negative. On BSE, 1711 stocks rose while 1994 fell and 150 remained unchanged.

Kotak Mahindra, ICICI Bank fall while IndusInd, IDFC First gain after the result

Share price of Kotak Mahindra was bearish after the quarterly results. New NPAs and a significant increase in credit costs are believed to favor share prices. The share of unsecured loans in the bank's loan portfolio has been high. The share price fell to Rs 72.95 and stood at Rs 1897. In ICICI Bank, after the results, the share price rose today and closed at Rs 992 due to profit booking at a higher level. The intraday price touched a 52-week high of Rs 1008.70. IndusInd Bank rose by Rs 28.35 to Rs 1435, IDFC First Bank rose by Rs 0.85 to Rs 83.70, Bank of Baroda rose by Rs 1.75 to close at Rs 198.35. SBI rose by Rs 2.55 to Rs 617.65, HDFC Bank rose by Rs 2.65 to close at Rs 1678.40.

Selling of FIIs while buying of DIIs

In the Indian stock market, foreign institutional investors on Monday sold Rs 9,802.14 crore while bought Rs 9,719.18 crore, bringing the total net selling by FIIs to Rs 82.96 crore. On the other hand, domestic institutional investors bought goods worth Rs 8655.89 crore and sold goods worth Rs 7721.02 crore. Thus, DII was a net buyer of Rs 934.87 crore.

Auto stocks mixed: Hero MotoCorp, Tata Motors, Mahindra, Bajaj Auto rise

Select auto stocks rose on expectations that good monsoon progress in most parts of the country and acceleration in sowing of kharif crops will make conditions favorable for the auto industry. Mahindra & Mahindra rose by Rs 23.35 to Rs 1546.85, Hero Motocorp rose by Rs 32 to Rs 3134, Tata Motors rose by Rs 3.50 to close at Rs 629.25. After touching a 52-week high of Rs 186.50 above Ashok Leyland, profit bookings eventually eased the price to close by 60 paise from the previous close at Rs 182.45. Bajaj Auto rose by Rs 20.05 to close at Rs 4882.75. TVS Motors closed down by Rs 35.85 at Rs 1307.10. Rs 1373 was seen on TVS Motor before today's quarterly results. Maruti Suzuki fell by Rs 75.25 to Rs 9694.80. The company's board meeting for the quarterly results is scheduled for July 31. Eicher Motors fell by Rs 7.65 to Rs 3307.

In IT stocks, TCS, Infosys, Persistent are attractive while Wipro, HCL, Tech Mahindra are under pressure.

IT stocks were mixed amid reports that IT sector companies' revenue growth was stronger in the June quarter compared to other sectors. TCS rose by Rs 26.45 to close at Rs 3394.75. Infosys prices remained relatively flat after last week's results. The share price increased by five rupees to Rs 1336.60. Persistent rose by Rs 24.30 to close at Rs 4773.90. Tech Mahindra fell by Rs 33.25 to Rs 1161.85, L&T Technology fell by Rs 48.30 to Rs 3993.75, HCL Tech closed by Rs 2.55 to Rs 1112.90.

Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro...
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja...
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se...
Read more