INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Domestic markets edged lower on Tuesday, extending their slide into the fourth straight session, amid heavy selling by foreign
institutional investors and ahead of key June qaurter results.
Foreign portfolio investors (FPIs) were net sellers of domestic stocks to the
tune of Rs 1,916.91 crore on Monday, data available with NSE suggested
DIIs were net buyers to the tune of Rs 1,829.90 crore, data suggests
Markets would keep a close watch on HUL, ZEEL, L-T, NIIT Technologies, HDFC Life Insurance, IOB, Torrent Pharma, SBI Life Insurance, M-M
Financial Services, Kajaria Ceramics and Crisil are among a few firms scheduled to announce June quarter results on Tuesday
Weak rupee too kept the mood lacklustre
The rupee on Tuesday opened 6 paise down at 68.98 against the US dollar following a spike in crude oil prices and FII selling
Strong US dollar against major currencies further weighed on the rupee sentiment
report.
At around 9:30 am, the 30-pack Sensex traded on a bearish note, down 80.50 points or 0.21 per cent at 37,951 while Nifty50 shed
13.35 points or 0.12 per cent to trade at 11,333.
In the Nifty pack, 27 stocks gained, 21 declined while 2 remained unchanged.
Among Sensex
stocks, 19 rose and 11 fell with Kotak Mahindra Bank leading the gainer pack
The scrip gained nearly 1 per cent after it reported a 33 per cent increase in net profit in the June quarter, paced by healthy loan growth
and treasury gains that boosted other income
It predicted 20 per cent growth in consumer loans despite mounting concerns over the rate of broader economic expansion
YES Bank, on the other hand, was the top loser, shedding over 4 per cent as promoter Rana Kapoor pledged 10 crore shares accounting for
4.31 per cent of total share capital for security
The pledge was made as security provided to the holders of debentures issued by Morgan Credits (MCPL)
HDFC, HDFC Bank, Bajaj Auto, Tata Motors, SBI were other losers shedding upto 2 per cent.
BSE Midcap and BSE Smallcap shed 0.21 per cent
and 0.07 per cent respectively.
On the sectoral front, mood was mixed with IT being the top gainer, up 0.95 per cent, and finance being the
interpreted the latest comments on inflation and funding costs by RBI Governor Shaktikanta Das to point to fewer rate cuts this financial
year than anticipated earlier.