MARKET UPDATE:Sensex up by 120 points at 38,490 levels and the Nifty at 11,350-mark
Published On: Thursday, August 13, 2020 | By: Team KnowMyStock
The equity market in India was trading with slim gains on Thursday, lifted primarily by metal stocks. Among the headline indices, the S&P BSE Sensex was up 120 points at 38,490 levels and the Nifty50 index topped the 11,350 marks. TCS, SBI, and Tech Mahindra (all up 1%) were the top Sensex gainers. On the other hand, Bharti Airtel dipped over 4 percent in early deals. Aurobindo Pharma also fell 4 percent despite reporting a 22.8 percent YoY rise in consolidated profit at Rs 780.7 crore in the June quarter. Indiabulls Group stocks gained after Sameer Gehlaut stepped down as the company's executive chairman with immediate effect. The trend among Nifty sectoral indices was largely in the green, led by Nifty Metal index, up 2 percent, The broader indices outperformed their benchmark peers with the S&P BSE MidCap and the SmallCap index trading 0.8 percent higher each.
One hundred and seventy eight companies including Hero MotoCorp, Eicher Motors, and BPCL are scheduled to announce their June quarter results. Analysts expect Hero MotoCorp's Q1 net profit to tumble anywhere in the range of 72-94 per cent on a year-on-year basis, led by massive decline in overall volumes.
Tags: Indian equity market
We are on Telegram!
JOIN our telegram channel to receive updates on Financial News and Stock and FNO Tips.
Click Here!
Follow Us On:
