Equity MRK
Monday, July 23, 2018   
Adani Ports  384.05    (3.83%)
 
Asian Paints  1433.70    (2.63%)
 
Axis Bank  540.80    (1.19%)
 
Bajaj Auto  2689.10    (-5.35%)
 
Bharti Airtel  357.60    (3.49%)
 
Coal India  262.30    (-0.32%)
 
H D F C  1966.60    (-0.44%)
 
HDFC Bank  2157.75    (-1.48%)
 
Hero Motocorp  3163.90    (-6.20%)
 
Hind. Unilever  1686.60    (1.84%)
 
ICICI Bank  274.85    (3.33%)
 
IndusInd Bank  1938.90    (1.92%)
 
Infosys  1355.75    (0.55%)
 
ITC  283.85    (3.80%)
 
Kotak Mah. Ban...  1336.20    (0.21%)
 
Larsen & Toubr...  1279.50    (0.80%)
 
M & M  907.70    (-0.20%)
 
Maruti Suzuki  9697.15    (3.31%)
 
NTPC  158.15    (1.84%)
 
O N G C  156.50    (-0.86%)
 
Power Grid Cor...  176.95    (0.43%)
 
Reliance Inds.  1120.15    (-0.74%)
 
St Bk of India  266.40    (2.09%)
 
Sun Pharma.Ind...  561.40    (0.27%)
 
Tata Motors  258.25    (1.91%)
 
Tata Motors-DV...  142.00    (0.85%)
 
Tata Steel  516.85    (2.66%)
 
TCS  2005.05    (0.46%)
 
Vedanta  211.55    (4.42%)
 
Wipro  276.05    (-2.47%)
 
Yes Bank  387.55    (0.23%)
 
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Mid Session Commentary
You are here : Equity | News | Mid Session Commentary
Broader market declines
(13:24, 11 Jul 2018)

Key benchmarks pared gains and were trading almost flat in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, was up 29.91 points or 0.08% at 36,269.53. The Nifty 50 index was up 0.85 points or 0.01% at 10,948.10. Gains were capped due to weak global cues.

Overseas, European shares were trading sharply lower on Wednesday morning after US authorities unveiled a new list of Chinese products that could see new tariffs.

Meanwhile, media reports suggested that President Donald Trump on Wednesday, 11 July 2018, claimed Germany is totally controlled by Russia. Speaking in Brussels, Belgium on the first leg of his European trip, the US president reportedly said a slew of inappropriate energy deals had given Moscow far too much influence over the continent's largest economy.

Asian stock markets fell after the Trump administration announced it plans to slap tariffs on a further $200 billion of Chinese imports. US stocks had climbed in the regular trading session yesterday, 10 July 2018, as investors focused on the start of earnings season.

The Trump administration pushed ahead with plans to impose tariffs on an additional $200 billion in Chinese goods by releasing a list of targeted products. The 10% tariffs could take effect after public consultations end on August 30. The proposed list of goods includes consumer items such as clothing, television components and refrigerators as well as other technology products, though it omitted some high-profile items like mobile phones.

Earlier, the Trump administration on July 6 imposed 25% duties on $34 billion in Chinese imports. The first round of tariffs covered Chinese products ranging from farming plows to machine tools and communications satellites. China immediately retaliated with duties on the same value of US goods, including soybeans and cars and has promised further retaliation too.

Back home, volatility struck bourses in early trade as the key benchmark indices reversed initial losses triggered by negative Asian stocks. Indices extended gains and hit intraday high in morning trade. Fresh selling at higher levels once again pulled the key benchmark indices in negative zone in mid-morning trade.

Broader market declined. The S&P BSE Mid-Cap index was off 0.50%. The S&P BSE Small-Cap index was off 0.21%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 1034 shares rose and 1360 shares fell. A total of 149 shares were unchanged.

Adani Ports & Special Economic Zone (up 1.55%), Bajaj Auto (up 1.36%), Axis Bank (up 1.21%), Hindustan Unilever (up 1.09%), ITC (up 0.98%) and Kotak Mahindra Bank (up 0.75%), were the major Sensex gainers.

Coal India (down 3.44%), Vedanta (down 3.32%), Tata Motors (down 2.43%), Tata Steel (down 1.95%), ICICI Bank (down 1.66%) and State Bank of India (down 1.61%), were the major Sensex losers.

IT major TCS gained 4.67% after consolidated net income rose 6.3% to Rs 7340 crore on 6.8% increase in revenue to Rs 34261 crore in Q1 June 2018 over Q4 March 2018. The result was announced after market hours yesterday, 10 July 2018.

Commenting on the Q1 performance, CEO and MD, Rajesh Gopinathan said the company is starting the new fiscal year on a strong note, with the growth engine firing on all cylinders. The firm's banking vertical recovered very nicely this quarter, while other industry verticals maintained their momentum. With a good set of wins during the quarter, a robust deal pipeline and accelerating digital demand, TCS is positioned well for the future.

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