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Indian Indices Trade on a Volatile Note; HDFC Bank & Reliance Industries Top Losers

Fri, 31 Jul 12:30 pm

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Share markets in India are trading on a volatile note, swinging between gains and losses, dragged by financials and energy stocks.

Weak trend in Asian peers also weighed on the sentiment. Asian shares tumbled as reports showed layoffs of American workers are persisting at high levels after the US economy contracted at a nearly 33% annual pace in the spring, the worst quarter on record.

The BSE Sensex is trading down by 101 points, at 37,700 levels.

Meanwhile, the NSE Nifty is trading down by 22 points.

The BSE Mid Cap index is trading up by 0.2%.

The BSE Small Cap index is trading up by 0.4%.

On the sectoral front, finance stocks are witnessing most of the selling pressure.

The rupee is trading at 74.75 against the US$.

Gold prices are trading up by 1.1% at Rs 53,790 per 10 grams.

If you want to know when and how to buy gold, just visit our Youtube Playlist on gold investing. Get trading ideas on gold by India's #1 trader Vijay Bhambwani. Find out the right way to profitably trade gold now.

Speaking of the current stock market scenario, in her latest video, Richa Agarwal, lead smallcap analyst at Equitymaster, talks about a zero loss strategy that maximizes returns in volatile stock markets.

Tune in to find out more:

Also, a few months back, Richa wrote to you about an urgent opportunity in smallcaps...in 5 smallcaps to be precise.

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But even if the gains had not come, Richa's conviction in these 'Essential stocks' would not have been any less. That's because these are coffee can stocks.

Some of these stocks are still in the buying range...and offer strong upside in the long term. Hidden Treasure subscribers can read the report here (requires subscription).

In news from the pharma space, Torrent Pharma is among the top buzzing stocks today.

Shares of the company rallied over 10% today after the pharmaceutical company's consolidated profit before tax jumped 44% to Rs 4 billion in April-June quarter of FY21 (Q1FY21).

The company's PBT in corresponding quarter last year stood at Rs 2.8 billion.

Moreover, its consolidated net profit leaped 48.6% to Rs 3.2 billion mainly on account of robust sales in the Indian market.

The company had posted a net profit of Rs 2.2 billion for the corresponding period of the previous fiscal.

The company's consolidated total income rose marginally by 0.9% to Rs 20.6 billion from Rs 20.4 billion in Q1 of FY20.

In terms of markets, while its India revenues grew marginally by 2% on a year-on-year (YoY) basis to Rs 9.3 billion, up from Rs 9.1 billion in Q1 of FY20, its US revenues fell by 1% to Rs 3.7 billion.

During the quarter, the company launched two products in the US market and guided for 9-10 more in FY21. It plans to file 12-14 ANDA in FY21.

According to Samir Mehta, the company's executive chairman, the first quarter of current fiscal witnessed challenges due to Covid-19 hampering industry growth in global markets. However, most of the company's focus markets have seen a steady recovery since June.

Torrent Pharma share price is presently trading up by 11.6%.

To know more, you can read Torrent Pharma's Q1FY21 result analysis on our website.

Moving on to news from the banking sector, as per an article in the Economic Times, the government should reduce its stake in state-owned banks to 26% and give their leaders longer tenures for professional management, the Reserve Bank of India (RBI) has told the Prime Minister.

The RBI gave Modi a presentation on Thursday when he met with the heads of financial regulators to discuss measures to revive the economy hit by the coronavirus pandemic.

It suggested that the managing directors and chief executive officers of state-run banks should have a term of three to years and their salaries should match the private sector.

The government's holding in state-run owned banks exceeds 50%.

RBI governor Shaktikanta Das, markets regulator chairman Ajay Tyagi, Irdai chairman S C Khuntia and PFRDA chairman Supratim Bandyopadhyay attended the three-hour long meeting. Finance Minister Nirmala Sitharaman, Road Transport Minister Nitin Gadkari, and Commerce and Industry Minister Piyush Goyal also attended.

India's economy is expected to contract by 4.5% during the current fiscal, according to the latest projection by the International Monetary Fund (IMF).

Since February, the RBI has taken various measures, including liquidity infusion and moderation of interest rate to record low in its bid to maintain financial stability and support growth.

Nearly 40% of the government's Rs 20.97 lakh crore economic package comprised of several liquidity measures undertaken by the RBI.

How this all pans out remains to be seen. Meanwhile we will keep you updated on the latest developments from this space.

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

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers