Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

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

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Markets Under Pressure After a Historic Week for the Nifty, US tech stocks fall & Top Cues in Action Today
Mon, 31 Jul Pre-Open

Share markets in India closed lower at the end of last week after corporate earnings of various companies. Pharma companies were the biggest losers on the Nifty led by Dr. Reddys, Lupin and Sun Pharma.

It was a historical week for Nifty which closed above the 10000 mark for the first time ever on Wednesday last week.

Global Markets Muted as US Tech Stocks Fall

Global stock markets fell on Friday as tobacco shares dropped and Amazon earnings disappointed, while oil prices added to recent gains and were on track for their biggest weekly percentage rise this year.

US technology stocks slid abruptly on Thursday after reaching a series of record highs.

The US dollar was broadly lower as a combination of underwhelming US economic data and political uncertainty kept traders biased toward the euro and other world currencies.

Meanwhile, gold prices built on a weekly gain Friday as reports of another missile test by North Korea and continued weakness in the U.S. dollar boosted demand for the precious metal.

Just Released: Multibagger Stocks Guide
(2017 Edition)

In this report, we reveal four proven strategies to picking multibagger stocks.

Well over a million copies of this report have already been claimed over the years.

Go ahead, grab your copy today. It's Free.

NO-SPAM PLEDGE - We will NEVER rent, sell, or give away your e-mail address to anyone for any reason. You can unsubscribe from The 5 Minute WrapUp with a few clicks. Please read our Privacy Policy & Terms Of Use.

Pharma Stocks Continue to Slide Downwards in the Domestic Market

Pharma stocks pulled domestic markets down last week. Dr. Reddy's share price slumped over 5% after it posted 53.2% year-on-year fall in consolidated net profit at Rs 0.6 billion for the quarter ended 30 June 2017 against Rs 1.3 billion in the corresponding quarter last year.

Another Pharma giant Lupin will come out with its results this week. Lupin share price was down last week after reports that the US health regulator began inspection of Unit 1 of its Pithampur facility last week. The facility's Unit 2 and 3 was inspected earlier this year and was issued 6 and 5 observations respectively.

Biocon came out with a disappointing set of results last week. Revenues were down by 4% year on year. Net profit was down by 51%. The management attributed this decline to a combination of a stronger rupee and GST implementation.

Top Cues in Action Today

Blue Dart Express will be in focus today after Goldman Sachs maintained a bearish stance post weak set of results. With the logistics industry adapting to GST, near term pricing pressures are bound to continue.

ONGC share price is expected to be in news today. As per an article in The Economic Times, ONGC has won government approval for acquisition of Gujarat State Petroleum Corp's entire 80% holding in a KG basin gas block for Rs 77.38 billion.

The company will also pay part consideration of US$ 200 million (Rs 12.95 billion) to GSPC towards acquisition rights for discoveries other than DDW field in the block.

HDFC share price is also expected to be in focus today as HDFC will sell 9.57% stake in HDFC Life through an IPO in the coming months, becoming the third major life insurer to list on stock markets.

The company has approved sale of 19,12,46,050 shares, it said in a notice to BSE. British insurer Standard Life, which owns 35% in the insurance JV, is also expected to sell a portion of its shares.

The announcement follows last week's decision by the HDFC Life board to sell up to 20% of its equity in a public offering. The move casts doubts over whether the HDFC Life and Max Life merger, which is yet to receive the regulator's approval, will go through.

Cochin Shipyard IPO opens tomorrow, 1st August. In terms of dock capacity, it is India's largest public sector shipyard. It is seen as a play on the defence sector in India.

Security and Intelligence Services (SIS) IPO opens today. The company has priced its Rs 7.8 billion IPO in Rs 805-815 range. The initial public offer (IPO) comprises fresh issue of shares worth Rs 3.6 billion and an offer for sale of up to 51,20,619 shares by the existing shareholders.

We, at Equitymaster, have always recommended IPOs cautiously. Here's Rahul Shah, co-head of research at Equitymaster, explaining our rationale behind the approach:

  • 'We know what a dirty game the IPO business is. We've seen it over and over again: It's a game where the odds are stacked against investors. So for us, the equation is simple. We'd rather face criticism in the short run than see our subscribers lose money over the longer term. We weren't afraid to do this during the hot IPO days of 2007, and we're not afraid to do it today.'

The Bottomline: You need to evaluate each IPO on its merits by considering its fundamentals, and most importantly, the valuations. And this is particularly important when the hype surrounding IPOs is at its peak.

We have reviewed each of them and have released their recommendation notes. You can check the same on their IPO page.

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

What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Markets Under Pressure After a Historic Week for the Nifty, US tech stocks fall & Top Cues in Action Today". Click here!


Views on News

BSE Sensex Surges 1,060 Points; TATA STEEL Among Top Gainers (Market Updates)

Mar 3, 2021 | Updated on Mar 3, 2021

The BSE Sensex Surged 1,060 Points; TATA STEEL Among Top Gainers. Find the latest update, special reports and news on all time high gainers of BSE Sensex at

Dollar at 80? (Fast Profits Daily)

Mar 3, 2021

Can the rupee depreciate to 80 against the US dollar? In this video, I'll show you what the charts say.

Motilal Oswal Asset Allocation Passive Fund of Fund: Aims to Benefit from Investing in Multi-Asset Passive Funds (Outside View)

Mar 3, 2021

PersonalFN analyses the features of Motilal Oswal Asset Allocation Passive Fund of Fund and explains the potential this fund has to offer to its investors.

Smallcap Investing in the New Normal World (Profit Hunter)

Mar 3, 2021

Here's why I think there is more steam left in smallcaps.

Why Rising Bond Yields Spooked the Market (Fast Profits Daily)

Mar 2, 2021

The stock market has been worried about rising bond yields recently and for good reason. In this video, I'll tell you why.

More Views on News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps (Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Make Rs 5,000 Per Day Trading the Market (Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

I Believe the Investment of the Year Will Be...

Feb 19, 2021

In this episode, ace trader Brijesh Bhatia talks to us about the best investments of 2021, his profitable trading system, and much more.

The Hidden Tesla in My Great Indian Wealth Project (Profit Hunter)

Feb 23, 2021

An Indian company founded three decades ago in a garage caught my attention...


India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms


Mar 3, 2021 (Close)