INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Frontline stock indices piled up more losses on Monday for the second consecutive session, let down by metal, pharma, auto, bank
Macroeconomic indicators turned out to be a worrying omen
Mixed global cues kept investors' mood downbeat.
The tepid start was a follow-up to dull Asian cues after China's economy slowed in the
The BSE Sensex tanked 218 points, or 0.60 per cent, to settle at 36,324
As many as 20 declined and 10 advanced
One remained unchanged.
The NSE Nifty settled lower by 82 points, or 0.74 per cent, at 10,937
Red flashed for 35 scrips and 15 went up
Risk appetite took a blow after India's trade deficit widened to its highest in more than five years in June, the trade ministry said on
Friday, driven largely by a surge in oil prices and a weaker rupee
Mood soured further as government data today showed that wholesale price inflation hit a 4-year high at 5.77 per cent in June, up sharply
from 4.43 per cent in May
This was mainly because of increasing prices of vegetables and fuel items.
Surging inflation may push India's central bank to hike key
rates in its next policy meet in August.
BSE midcap and smallcap bled profusely, falling 2.45 per cent and 2.51 per cent,
respectively.
Reliance Industries, ICICI Bank and Tata Steel were the top drags in the Sensex kitty
NTPC, Infosys and HDFC were the winners
Infosys closed the day, up almost 2 per cent
On Friday, India's second-largest software services major posted a net profit of Rs 3,612 crore, up 3.70 per cent, from Rs 3,483 crore in
the same quarter last year
ICICI Bank has launched a second external probe to examine allegations of irregularities in 31 loan accounts raised by a third
whistleblower complaint, ET reported quoting two people familiar with the matter
The scrip was down over 3 per cent.
Dr Reddy's Labs plunged 10 per cent on the BSE after the New Jersey District Court granted a
preliminary injunction against the sale of the generic version of Suboxone used for treating opioid dependence
PC Jeweller plunged as much as 26 per cent as the company's board decided to take back its buyback offer of 12.1 million shares with
immediate effect.
Meanwhile, the board of LIC, India's largest life insurer, on Monday approved the proposal to acquire a majority stake
Shares of IDBI Bank finished Monday's session at Rs 56.45, down 1.48 per cent.
Barring IT and teck, all sectors on BSE closed the day with
On the global front, European markets were mixed amid hopes of better earnings
However, worries of trade war continued to exert pressure
Shanghai Composite was down nearly 1 per cent while Nikkei 225 was closed for a public holiday
