NEW DELHI: Equity benchmarks Sensex and Nifty ended flat on Tuesday ahead of June quarter earnings of IT major Tata Consultancy Services (TCS).
As Budget blues take its toll on stocks, investors are hoping for some relief from June quarter earnings. The rupee's tepid rise against the US dollar also gave a leg up to market sentiment.
Global cues remained lacklustre as stronger jobs data in the US dented hopes of an aggressive rate cut by the US Fed.
Sensex ended 10 points higher at 38,730, while Nifty settled 3 points down at 11,555.
Here is breaking down key highlights of Tuesday's session:
Bajaj Finance jumps 5%
After seeing losses for two consecutive sessions, shares of Bajaj Finance ended 5.52 per cent higher at Rs 3,603 after the company said assets under management rose to Rs 1,29,000 crore as of June 30, 2019, compared with Rs 91,287 crore as of June 30, 2018. New loans booked during June quarter of FY20 increased to Rs 73 lakh against Rs 56 lakh in the same period of the previous financial year.
Titan plunges 12%
Falling for the fourth day in a row, shares of Titan ended 12.26 per cent down at Rs 1,099.10. The company in its quarterly update on Monday said it witnessed a tough macro-economic environment with consumption being hit during April-June quarter due to rising gold prices. In the last four sessions, the stock has come off 17 per cent.
DHFL shares fall 9%
Extending losses into the fourth session, shares of Dewan Housing Finance Corporation (DHFL) plunged 8.75 per cent to close at Rs 70.95 even as reports suggested that the lenders to the company will meet on July 10 to discuss resolution proposal submitted by it.
TCS falls ahead of Q1 numbers
Ending the day as the top loser in the Sensex index, shares of the IT heavyweight fell 2.05 per cent to Rs 2,131.45 ahead of its June quarter results. Brokerage Edelweiss Securities said Tata Consultancy Services (TCS) is likely to post a healthy 2.8-2.9 per cent quarter-on-quarter revenue growth in constant currency term for Q1 of FY20.
Glenmark gains on USFDA nod
Glenmark Pharmaceuticals Tuesday said it has received final nod from the US health regulator for its Ranolazine extended-release tablets used for the treatment of chronic angina. Shares closed 2.58 per cent higher at Rs 448.
271 stocks hit 52-week lows
As many as 271 stocks, including Maruti Suzuki India, Escorts, Cadila Healthcare, Bosch, Sundram Fasteners, Mindtree, Gail (India), Deepak Fertilisers and Glaxosmithkline Pharmaceuticals, hit their 52-week lows on BSE. On the other hand, Adani Power, Just Dial and Varun Beverages were among 28 stocks that hit 52-week highs.
193 stocks hit lower circuits
Manpasand Beverages, Cox & Kings, Swelect Energy Systems, SORIL Infra Resources, Electrotherm (India), Orient Green Power Company, Hindustan National Glass & Industries and Kwality were amoRead More – Source
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