Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

We are currently facing an issue in receiving the NSE feed. Hence the stock prices are not updated. We are working on fixing this at the earliest. We regret the inconvenience caused.

Indian Indices End Flat; Adani Ports, BPCL and Bharti Airtel Among Top Nifty Losers
Mon, 12 Jul Closing

After opening the day on a strong note, Indian share markets witnessed volatile trading activity throughout the day today and ended lower.

Benchmark indices erased early gains and ended the day on a flat note, ahead of the release of the retail inflation data, due later today.

At the closing bell, the BSE Sensex stood lower by 13 points (down 0.1%).

Meanwhile, the NSE Nifty closed higher by 3 points (up 0.1%).

UltraTech Cement and Grasim were among the top gainers today.

Adani Ports and BPCL, on the other hand, were among the top losers today.

The SGX Nifty was trading at 15,697, down by 31 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 0.4% and 0.8%, respectively.

Sectoral indices ended on a mixed note with stocks in the telecom sector, power sector and IT sector witnessing most of the selling pressure.

Realty stocks, on the other hand, witnessed buying interest.

Shares of Force Motors and JK Cement hit their respective 52-week highs today.

Asian stock markets ended on a positive note today as record highs on Wall Street and policy easing in China helped calm some of the recent jitters on global growth.

The Hang Seng and the Shanghai Composite ended the day up by 0.6% and 0.7%, respectively.

The Nikkei ended up by 2.3% in today's session.

US stock futures are trading on a negative note today with the Dow Futures trading down by 144 points.

The rupee is trading at 74.57 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.5% at Rs 47,706 per 10 grams.

Speaking of the stock markets, Brijesh Bhatia, Research Analyst at Fast Profits Report talks about the top three risks for Nifty today, in his latest video for Fast Profits Daily.

Tune in to the video below to find out more:

In news from the realty sector, Godrej Properties was among the top buzzing stocks today.

Shares of Godrej Properties gained over 4% on the BSE today after the firm said it plans to invest more than US$ 1 bn over the next couple of years to acquire and develop new projects as part of its target to achieve higher growth.

Addressing shareholders in the company's annual report, its Executive Chairman Pirojsha Godrej said, for the first time, Godrej Properties was 'India's largest developer by the value and volume of sales it achieved'.

The company's sales bookings grew 14% to a record Rs 67.3 bn last fiscal despite adverse impact of the Covid-19 pandemic, surpassing nearly Rs 60 bn clocked by Macrotech Developers (erstwhile Lodha Developers).

Godrej Properties sold 9,345 homes at an average of over 25 homes per day.

The executive chairman highlighted that the company in March raised Rs 37.5 bn through qualified institutional placement (QIP) process.

'Our QIP in March raised Rs 37.5 bn, and allowed the company to end the year with a net cash balance sheet,' he said.

Pirojsha pointed out that the business development in 2020-21 fiscal year was moderate, as the company adopted a wait-and-watch approach in the first half because of the pandemic.

However, he expects financial year 2021-22 to be a strong year for business development.

Godrej Properties share price ended the day up by 2.6% on the BSE.

Moving on to news from the IT sector...

HCL Technologies Bags IT Modernisation Deal from The Mosaic Company

IT company HCL Technologies announced the signing of a five-year global agreement to provide digital transformation and managed services to US-based The Mosaic Company.

As part of the agreement, HCL will manage and transform Mosaic's global application and infrastructure environments to enhance the company's agility and ability to drive growth in the marketplace, the company said in a statement.

HCL will deploy a scaled agile delivery model across North America and South America to deliver process-led services across applications, infrastructure, and business analytics environments.

'As a partner and key enabler, Mosaic will rely on HCL Technologies to use its services to drive its strategic priorities, including functional collaboration and efficiency,' Ajay Bahl, Executive Vice President for HCL America, said in a statement.

HCL said that the partnership with Mosaic capitalises on its focus on the agriculture business, mining, and chemical segments.

In addition, Mosaic will benefit from HCL's presence in the Latin American market where the company will be able to execute on go-to-market models for different segments, including B2B and B2C firms.

HCL in a separate announcement said that it has completed the first phase in building a modern digital workplace for multinational energy company BP.

This project enables BP to drive efficiency and create a standardised end-user experience for its employees across more than 500 sites, according to HCL.

The financial details of the deal were not disclosed.

HCL Technologies share price ended the day up by 0.2% on the BSE.

Speaking of stocks, here is an illustration of the four phases that a stock goes through during its life cycle. The cycle repeats itself after the stock goes through all these for stages.


INCLUDEPICTURE "https://www.eqimg.com/profit-hunter/images/2020/10232020-chart1-equitymaster.gif" \* MERGEFORMATINET

This cycle defines everything in markets. If you can master this cycle, then nothing can stop you from making huge profits.

If you're interested to know how a stock's life cycle can offer you the opportunity to make money in every phase, you can read about it in one of the recent editions of Profit Hunter: One Cycle That Defines Everything in the Markets

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Indian Indices End Flat; Adani Ports, BPCL and Bharti Airtel Among Top Nifty Losers". Click here!