Benchmark indices were trading lower on Monday for the third straight trading session, thanks to concerns over the healthy of global economy. The BSE Sensex was down 337.77 points or 0.52% at 64,984.88. The NSE barometer Nifty fell 112.35 points or 0.58% to 19,315.95.
Analysts noted that the spike in the dollar index to 103 level and rising US 10-year bond yield were negative factors hurting emerging markets. The FPI were sellers to the tune of Rs 3,073 crores. That also dampned sentiment. They advised investors to exercise caution in the near term.
DB Realty shares climbed 9.75% to Rs 104.50 after it acquired 50% stake in Bamboo Hotels & Global Centre (Delhi), a joint venture between Prestige Hospitality and Marine Drive Hospitality, which is constructing a hotel complex.
Nykaa shares plunged 11.11% to hit a low of Rs 130 on BSE as analysts cut share price targets for the stock post Q1 results. Analysts are now factoring in lower growth expectations for fashion division.
Shares of Adani Ports fell nearly 4% in Monday's trade as its meeting as Deloitte Haskins & Sells LLP tendered resignation as statutory auditor of the company and its material subsidiaries.
ITC was quoting half-a-per cent lower at Rs 446.75 apiece ahead of its June quarter results. ITC is expected to report a double-digit growth in profit despite tepid sales growth.
HDFC Bank fell nearly 1% to Rs 1,603.65. HDFC Bank chief Sashidhar Jagdishan on Friday said funding will remain the biggest risk after the HDFC Bank and HDFC merger.
CarTade fell nearly 1% to Rs 522.55 apiece even as the online auto platform CarTrade announced the completion of 100% acquisition of OLX's classified and auto business in India for Rs 535.54 crore.
Info Edge declined 3.3% to Rs 4,311.50 The company has reported 34.68 per cent rise in its net profit at Rs 199.90 crore for the quarter compared with Rs 148.43 crore for the same quarter last year. Total income of the company increased 16.84% at Rs 642.09 crore compared with Rs 549.53 crore for the corresponding quarter previous year.
ONGC gained 0.82% to Rs 178.60 in an otherwise weak market, thanks to a 2-fold jump in its net profit at Rs 17,382.97 crore for the first quarter compared with Rs 8,580.75 crore for the same quarter last year.
Kirloskar Oil Engines soared more than 7% on Monday as the company ;ast week reported a 53% jump in consolidated net profit to Rs 126 crore in the June quarter. The company had delivered a consolidated net profit of Rs 82 crore in the year-ago period.
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