MARKET UPDATE:Volatile start: Sensex slipped 100 points to 38,400 levels, and Nifty slipped below 11,300-mark
Published On: Wednesday, July 29, 2020 | By: Team KnowMyStock
The equity market in India had a volatile start today on the back of mixed cues in Asian markets. The S&P BSE Sensex slipped 100 points to 38,400 levels and the Nifty50 index slipped below the 11,300-mark. IndusInd Bank surged as much as 7 percent after the bank got approval to raise Rs 3,288 crore through preferential issue of fully paid-up shares. Besides, YES Bank also rose 3 percent higher after the announcement of its June quarter results. All the Nifty sectoral indices were trading in the green, led by the Nifty PSU Bank index, up 1.6 percent. One hundred and eighty companies are scheduled to announce their quarterly earnings today. Analysts expect Bharti Airtel to post a loss of as much as Rs 318.9 crore as compared to Rs 5,236.9 crore loss reported in Q4FY20. Revenue growth for the quarter, however, is likely to remain flat with India's non-wireless revenues traction remaining robust.
Maruti Suzuki is expected to report a net loss of up to Rs 750 crore led by a massive decline in volumes due to the Covid-19-triggered lockdown.
Analysts would today watch out InterGlobe Aviation-run IndiGo's cash flows in the April-June quarter of FY21 (Q1FY21) and further fund-raising plans.
Tags: Indian equity market
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