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Sensex Trades Marginally Lower; HCL Technologies & Infosys Top Losers
Fri, 7 Aug 12:30 pm | Monish Vora, TM Team

Share markets in India are presently trading on a negative note as domestic coronavirus cases crossed the 2-million mark, and amid weak global markets.

While market sentiments were largely boosted by RBI's monetary policy outcome on Thursday, mixed global cues and a record rise in Covid cases dented sentiments.

The BSE Sensex is trading down by 83 points at 37,900 levels.

Meanwhile, the NSE Nifty is trading down by 18 points.

The BSE Mid Cap index is trading up by 1.3%. The BSE Small Cap index is trading up by 0.9%. Smallcap stocks are witnessing buying interest today.

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

The rupee is trading at 74.95 against the US$.

Gold prices are trading up by 0.2% at Rs 55,915.

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Moving on, shares of Delta Corp, Eveready Industries, KPIT Technologies and Centrum Capital are among the top gainers today as the BSE relaxed circuit limits for these stocks.

BSE on Thursday relaxed circuit limits for over 600 stocks with nearly three dozen counters.

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In news from the chemicals sector, Bayer CropScience is among the top buzzing stocks today.

Shares of the company zoomed as much as 15% to hit an all-time high of Rs 6,449 apiece on the BSE after the company reported encouraging numbers for the quarter ended June 2020 (Q1FY21).

For the quarter under review, Bayer CropScience reported an 86% increase in its consolidated net profit at Rs 2,517 million on better monsoon that helped boost its sales of seeds and crop protection products.

The company had posted a profit of Rs 1,353 million in the year-ago period.

Profit before exceptional items and tax came in at Rs 3,138 million, up 54% against Rs 2,035 million in the June 2019 quarter.

Revenue from operations stood at Rs 12.3 billion, up 29% against Rs 9.5 billion in the corresponding quarter of the previous fiscal.

"Preparations for Kharif season started earlier this year due to Covid-19 related uncertainties. Consequently, we advanced our production schedule to enable early product availability and shifted to digital training & advisory for our farmer customers. On-time arrival of monsoon and uninterrupted availability of agri-inputs helped farmers procure seeds and crop protection products for timely Kharif sowing," said D Narain, CEO & Managing Director.

Bayer CropScience share price is presently trading up by 9.7%.

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Moving on to news from the mutual funds space, the Reserve Bank of India (RBI) in its statement on Developmental and Regulatory Policies issued on Thursday, reduced the risk capital that banks need to set aside against investment in debt mutual funds and exchange-traded funds (ETFs), a move that may improve liquidity in these funds.

Currently, banks have to set aside more capital when they invest in debt mutual funds compared to when they buy debt instruments directly. This is because investment in debt mutual funds is treated on par with equity funds when it comes to capital requirements of banks.

On the other hand, when banks directly invest in debt papers, capital requirements are generally lower and based on the credit rating and nature of the debt instruments.

However, noting the risk of sudden redemption in debt funds, the central bank did not go for a complete harmonization. "A general market risk charge of 9% will continue to be applied," said the RBI statement.

Reports state that this may cause lower churn of inflows and outflows into debt funds.

Reports also state that this is a positive development from the point of view of debt fund investors. Banks normally park their surplus liquidity in certain debt fund categories like liquid funds. This move will marginally improve flows in liquid funds and possibly corporate bond funds.

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

Speaking of mutual funds, have a look at the chart below which shows recent net inflows into equity mutual funds:

Investors did well to pour more money into stocks (via mutual funds) in April 2020 and thus, take advantage of the sharp correction.

However, it goes all downhill after that. Inflows fell in both May as well as June this year when stocks were still on sale.

In fact, they fell by a whopping 97% in June 2020.

This means that if investors had bought Rs 100 worth of stocks when they were very expensive, they bought only Rs 3 worth of stocks when they had turned significantly cheaper.

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

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

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Stock Market Updates

ASTER DM HEALTHCARE LTD Share Price Up by 8%; BSE HEALTHCARE Index Up 3.3% (Today's Market)

Sep 18, 2020 03:34 PM

ASTER DM HEALTHCARE LTD share price is trading up by 8% and its current market price is Rs 148. The BSE HEALTHCARE is up by 3.3%. The top gainers in the BSE HEALTHCARE Index are ASTER DM HEALTHCARE LTD (up 7.7%) and DR. REDDYS LAB (up 9.9%). The top losers are ALKEM LABORATORIES (down 0.1%) and FORTIS HEALTHCARE (down 1.6%).

DILIP BUILDCON LTD Share Price Down by 5%; BSE CAPITAL GOODS Index Down 0.3% (Today's Market)

Sep 18, 2020 03:34 PM

DILIP BUILDCON LTD share price is trading down by 5% and its current market price is Rs 377. The BSE CAPITAL GOODS is down by 0.3%. The top gainers in the BSE CAPITAL GOODS Index are AIA ENGINEERING (up 7.3%) and FINOLEX CABLES (up 1.8%). The top losers is DILIP BUILDCON LTD (down 5.2%).

DR. REDDYS LAB Share Price Up by 10%; BSE HEALTHCARE Index Up 3.4% (Today's Market)

Sep 18, 2020 03:32 PM

DR. REDDYS LAB share price is trading up by 10% and its current market price is Rs 5,497. The BSE HEALTHCARE is up by 3.4%. The top gainers in the BSE HEALTHCARE Index are DR. REDDYS LAB (up 10.1%) and NATCO PHARMA (up 14.1%). The top losers are ALEMBIC PHARMA (down 1.2%) and FORTIS HEALTHCARE (down 1.4%).

ORIENT ELECTRIC Share Price Down by 5%; BSE 500 Index Down 0.0% (Today's Market)

Sep 18, 2020 03:32 PM

ORIENT ELECTRIC share price is trading down by 5% and its current market price is Rs 215. The BSE 500 is down by 0.0%. The top gainers in the BSE 500 Index are NATCO PHARMA (up 14.1%) and RAJESH EXPORTS (up 11.6%). The top losers are ORIENT ELECTRIC (down 5.3%) and ESSEL PROPACK (down 8.1%).

GUJARAT GAS Share Price Up by 6%; BSE OIL & GAS Index Down 0.2% (Today's Market)

Sep 18, 2020 03:26 PM

GUJARAT GAS share price is trading up by 6% and its current market price is Rs 322. The BSE OIL & GAS is down by 0.2%. The top gainers in the BSE OIL & GAS Index is GUJARAT GAS (up 5.5%). The top losers are BPCL (down 1.1%) and IOC (down 1.5%).

Indian Indices Trade Higher; Dr Reddy's Lab & Cipla Surge Over 8% (Today's Market)

Sep 18, 2020 12:30 pm

The BSE Sensex is trading up by 76 points, while the NSE Nifty is trading up by 41 points.

View More Indian Share Market News

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