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

Top 5 Recent IPO Developments You Should Know (Views On News)

May 12, 2021

So far in 2021, IPOs in India have raised nearly US$ 3 bn, the best start to the year since 2018.

How Did Mindtree Perform in Q4FY21? (Company Info)

Apr 20, 2021

Here's the rundown on the company's latest quarterly results.

Parag Parikh Conservative Hybrid Fund: Should You Invest in Higher Debt Allocation? (Outside View)

May 14, 2021

PersonalFN analyses the features of Parag Parikh Conservative Hybrid Fund and explains the potential this fund has to offer to its investors.

Die Hard 4.0 Redux? (Fast Profits Daily)

May 14, 2021

A Hollywood style cyber-attack has caused shockwaves across financial markets.

What Godrej Consumer's 22% Single-Day Gain Tells About My Blueprint (Profit Hunter)

May 14, 2021

The company's FY21 earnings performance turned out better than my estimates but...

More Views on News

Most Popular

Is Intraday Trading For You? (Fast Profits Daily)

May 13, 2021

Do you think you have what it takes to be an intraday trader? Find out in this video.

My Secret to Find Breakthrough Stocks (Fast Profits Daily)

May 7, 2021

I've used this trading technique for many years with great success. I'm sharing it with you today.

Are the Stock Markets Deaf to Covid Agony? (Profit Hunter)

May 6, 2021

Why are markets discounting the economic impact of Covid?

The Key to Profit from India's EV Revolution (Profit Hunter)

May 7, 2021

Stocks you must consider investing in before buying your first electric vehicle.


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


May 14, 2021 (Close)