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Sensex Ends Flat; Telecom and Healthcare Stocks Witness Selling
Thu, 13 Aug Closing | Monish Vora, TM Team

Indian share markets erased the opening gains and ended marginally lower for the second consecutive day today.

At the closing bell, the BSE Sensex stood lower by 59 points.

The NSE Nifty closed down by 7 points.

SGX Nifty was trading at 11,319, up by 8 points, at the time of writing.

The BSE Mid Cap index ended the day up by 1.6%. The BSE Small Cap index ended up by 0.8%.

Sectoral indices ended on a mixed note with stocks in the healthcare sector and telecom sector witnessing selling pressure.

Consumer durables stocks, on the other hand, witnessed buying interest.

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Asian stock markets ended on a mixed note. As of the most recent closing prices, the Nikkei ended 1.78% higher, while the Shanghai Composite ended 0.04% higher. The Hang Seng ended down by 0.1%.

The rupee is trading at 74.83 against the US$.

Gold prices are trading down by 0.3% at Rs 52,080 per 10 grams.

Moving on, GAIL was among the top buzzing stocks today.

This came as GAIL (India) reported a 56.43% year-on-year (YoY) fall in net profit at Rs 6.5 billion for the quarter ended June 30. The figure stood at Rs 15 billion in the corresponding quarter last year.

Consolidated revenue of the company declined 34% YoY to Rs 121.8 billion. The company said that performance was impacted due to nationwide lockdown. However, it added that the same is expected to reach to normal levels during upcoming period in FY 2020-21.

Segment wise, revenue from natural gas marketing declined 37.83% YoY to Rs 116.3 billion.

Likewise, topline from transmission services and city gas slipped 12% and 35% YoY, respectively.

However, revenue from petrochemicals increased 9.79% YoY to Rs 12.2 billion.

Lemon Tree Hotels share price was also in focus today after the company announced its debut in Dwarka, Gujarat, with the launch of the 109 key hotel - Lemon Tree Premier, Dwarka.

The company stated that the hotel features 109 well-appointed rooms and suites, a multi-cuisine vegetarian coffee shop-Citrus Cafe, banquet facilities, Conference facility Spa, etc.

For the quarter ended June 2020, Lemon Tree Hotels reported a weak set of numbers due to the Covid-19-induced lockdown. The company's revenue from operations declined 71.1% YoY. Net loss of the company came in at Rs 418.7 million as against the net loss of Rs 16.7 million in the corresponding quarter of the previous fiscal.

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Moving on to news from the commodity space, gold prices witnessed marginal fall today.

On MCX, gold futures prices fell 0.3% to Rs 52,080 per 10 grams.

In global markets, gold held above US$ 1,900 an ounce following wild swings as investors weighed the outlook for the metal's record-setting rally, tracking moves in bond yields, a weaker dollar, as well as an uptick in risk appetite.

Spot bullion steadied, while futures dropped after US stocks briefly surpassed their all-time closing high, curbing demand for safe haven assets.

Gold had tumbled on Tuesday this week, then swung in a wide arc on Wednesday, as last-week's rally likely spurred some technical selling and profit-taking.

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Stock Market Updates

SAIL Share Price Up by 5%; BSE METAL Index Up 2.8% (Today's Market)

Sep 25, 2020 03:34 PM

SAIL share price is trading up by 5% and its current market price is Rs 34. The BSE METAL is up by 2.8%. The top gainers in the BSE METAL Index are SAIL (up 5.2%) and JINDAL STEEL & POWER (up 7.2%).

FORCE MOTORS Share Price Up by 5%; BSE AUTO Index Up 3.4% (Today's Market)

Sep 25, 2020 03:28 PM

FORCE MOTORS share price is trading up by 5% and its current market price is Rs 1,060. The BSE AUTO is up by 3.4%. The top gainers in the BSE AUTO Index are FORCE MOTORS (up 5.2%) and MOTHERSON SUMI (up 5.6%).

VODAFONE IDEA Share Price Up by 13%; BSE 500 Index Up 2.4% (Today's Market)

Sep 25, 2020 03:24 PM

VODAFONE IDEA share price is trading up by 13% and its current market price is Rs 10. The BSE 500 is up by 2.4%. The top gainers in the BSE 500 Index are VODAFONE IDEA (up 13.5%) and IFB INDUSTRIES LTD (up 11.9%). The top losers are OBEROI REALTY and BAJAJ HOLDINGS & INVESTMENT .

BAJAJ CONSUMER CARE Share Price Up by 5%; BSE FMCG Index Up 2.0% (Today's Market)

Sep 25, 2020 03:24 PM

BAJAJ CONSUMER CARE share price is trading up by 5% and its current market price is Rs 185. The BSE FMCG is up by 2.0%. The top gainers in the BSE FMCG Index are BAJAJ CONSUMER CARE (up 5.1%) and GSK CONSUMER (up 5.1%). The top losers are GILLETTE INDIA (down 0.5%) and EMAMI LTD (down 0.5%).

ADANI TRANSMISSION Share Price Up by 6%; BSE POWER Index Up 2.2% (Today's Market)

Sep 25, 2020 03:24 PM

ADANI TRANSMISSION share price is trading up by 6% and its current market price is Rs 250. The BSE POWER is up by 2.2%. The top gainers in the BSE POWER Index are ADANI TRANSMISSION (up 6.0%) and TATA POWER (up 5.5%). The top losers is SIEMENS (down 0.5%).

Indian Indices Trade Higher; HCL Tech, Bharti Airtel & TCS Up Over 4% (Today's Market)

Sep 25, 2020 12:30 pm

The BSE Sensex is trading up by 451 points, while the NSE Nifty is trading up by 127 points.

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