MARKET UPDATE:Sensex, Nifty in the red-sensex at 38000 levels and Nifty gaveup 11,200-mark


Published On: Friday, August 7, 2020 | By:

MARKET UPDATE:Sensex, Nifty in the red-sensex at 38000 levels and Nifty gaveup 11,200-mark

The equity market in India was trading with slight cuts today (7th August 2020) amid mixed global cues. Among the benchmark indices, the S&P BSE Sensex dipped 30 points to around 38,000 levels and the Nifty50 index gave up the 11,200-mark. HCL Tech, Tata Steel, ICICI Bank (all down over 1%) were the top Sensex laggards while ONGC gained 1 percent. Vodafone Idea slid as much as 7 percent after reporting a sharp rise in its losses to Rs 25,460 crore for the June quarter of FY21 while HPCL's stock gained 4 percent after the company reported a 157 percent jump in its June quarter net profit. The trend among Nifty sectoral indices was largely negative, with the Nifty Bank index, down 0.7 percent, leading the list of losers. On the other hand, the broader market outperformed their benchmark peers after changes in circuit limits for about 650 companies became effective today. The S&P BSE MidCap and SmallCap indexes were both trading 0.7 percent higher.

Ninety-six companies, including Mahindra & Mahindra, Cipla, Abbott India, and Cipla, are scheduled to report their quarterly earnings today.

Mindspace Business Parks REIT is all set to debut on the bourses today. The Rs 4,500-crore IPO was subscribed 13 times during July 27-29.

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