MARKET UPDATE:Volatile start-Sensex up by 60 points after slipping to as much as 37,538 levels, and Nifty gave up 11,100-mark
Published On: Friday, July 31, 2020 | By: Team KnowMyStock
The equity markets in India fluctuated between gains and losses in a volatile start today(31st July 2020). The S&P BSE Sensex was trading 60 points higher at 37,800 levels after slipping to as much as 37,538 levels. The Nifty50 index gave up the 11,100-mark. Reliance Industries slid 2 percent after reporting its June quarter results. The HDFC twins slipped 2 percent each and were among the top Sensex losers. On the other hand, IT stocks were once again in focus with HCL Tech, TCS, Tech Mahindra, and Infosys all rising over 1 percent each. The trend among Nifty sectoral indices mixed. Nifty IT index rose 1 percent while the Nifty Financial Services index dipped 1 percent. Five hundred and seventy-six companies including State Bank of India, Tata Motors, Sun Pharmaceutical Industries, Indian Oil Corporation are scheduled to announce their quarterly results.
For SBI, stake sale gain from SBI Life during the June quarter may be the only saving grace as analysts see the bank's business growth to be modest in Q1 amid declining interest income and lower net profit sequentially.
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