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Sensex cuts early gains; Tech Mahindra gains by nearly 6 per cent

Geyatee Deshpande
/ Categories: DSIJ Mindshare, DSIJ News
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Sensex cuts early gains; Tech Mahindra gains by nearly 6 per cent

Domestic benchmark indices closed in green on Monday after a volatile trading session with Sensex gaining by 99.36 points or 0.27 per cent at 36,693.69 while Nifty rose by 47.15 points or by 0.44 per cent to settle at 10,815.20.

The IPO of Rossari Biotech attracted bids for a quarter of shares on the block, within four hours of the day one-bidding process. The issue received bids for 19,25,595 shares, which was 24 per cent of the issue size of 81,73,530 shares.

On the global front in Asian markets, Shanghai index rose by 1.77 per cent while Hang Seng, KOSPI and Nikkei gained by 0.17 per cent, 1.67 per cent and 2.22 per cent respectively. In European markets, indices such as FTSE 100, DAX and CAC 40 were trading higher by 1.08 per cent, 0.92 per cent and 0.87 per cent respectively.

Alibaba Group Holding Limited co-founder Jack Ma has cut his stake in the company over the past year to 4.8 per cent from 6.4 per cent, thus cashing out about US$ 9.6 billion at its current share price. The divestment is since Jack Ma retired as the company's executive chairman in September.

Crude oil prices dropped as a result of huge spikes in COVID-19 infections in the United States and in other regions globally, over the weekend.

Shares of YES Bank crashed by over 13 per cent after it is reported that Securities and Exchange Board of India (SEBI) may look into a large amount of share transaction of the bank under the Securities Lending and Borrowing Mechanism (SLBM). On July 09, investors had borrowed 95,99,987 shares worth Rs 5.9 crore for an interest rate of around Rs 7 per share for a one-month period with settlement due on August 06.

Sensex winners comprised Tech Mahindra soaring by 5.53 per cent, HCL Technologies rallying by 3.48 per cent, RIL increasing by 2.97 per cent, Bharti Airtel rising by 2.10 per cent, Infosys up by 1.91 per cent, HUL gaining by 1.84 per cent, ITC increasing by 1.62 per cent, etc. Sensex draggers consisted of banking stocks mainly with Bajaj Finance dropping by 2.41 per cent, HDFC Bank dipping by 2.26 per cent, HDFC declining by 2.11 per cent, Power Grid decreasing by 2 per cent, ICICI Bank falling by 1.89 per cent, SBI down by 1.56 per cent, Kotak Mahindra Bank down by 1.06 per cent, etc.

Amongst BSE sectoral gainers, Energy index was the biggest gainer, up by 2.47 per cent while Realty index was the biggest loser, down by 1.52 per cent. At a broad level, BSE small-cap index fell by 0.15 per cent whereas BSE mid-cap index gained by a mere 0.05 per cent.

 

Market Snapshot

NSE

No. of Stocks

No. of stocks (%)

Advances

770

40.10

Declines

1,073

55.89

Unchanged

77

4.01

Total

1,920

100

 

Indices Performance

Indices  

Price

Change

% Change

S&P BSE SENSEX

36,693.69

99.36

0.27

S&P BSE 100

10,878.29

34.63

0.32

S&P BSE 200

4,539.49

11.9

0.26

S&P BSE 500

14,002.65

34.01

0.24

 

Sectoral Indices  

Price

Change

% Change

BSE Healthcare

16,653.77

82.84

0.5

BSE FMCG

11,527.43

147.04

1.29

BSE Capital Goods

13,023.54

-8.56

-0.07

BSE TECK

8,063.47

127.42

1.61

BSE Information Technology

15,996.22

239.78

1.52

 

BSE 200 Top Gainers

Stock

Price

Change

% Change

Tech Mahindra

600.1

31.45

5.53

Emami

244.9

12.8

5.51

Future Retail

111

5.25

4.96

Bharat Forge

369.1

14.55

4.1

Bosch

13882.25

539.9

4.05

 

BSE 200 Top Losers

Stock

Price

Change

% Change

IDBI Bank

41.2

-2.15

-4.96

PI Industries

1692.35

-69.55

-3.95

Avenue Supermarts

2232.45

-89.7

-3.86

Motilal Oswal Financial Services

667.35

-23.7

-3.43

Godrej Industries

365.35

-12.9

-3.41

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