Finstreet Knowledge Power – Stay Ahead (7th Aug) Shares slide as Volatility haunts Dalal Street -Indias NSE index fell for a second consecutive session on Thursday as IT stocks such as Infosys fell after global rival Cognizant Technology Solutions Corp cut its annual revenue guidance. -Indian share markets traded on a weak note in the post-noon trading session. Barring energy and metal, all the sectoral indices traded in the red with IT and pharma stocks being the biggest losers. Markets tried to enter in the green territory but failed to maintain till the end. -Broader markets ended in line with the large counterparts. BSE Midcap and Smallcap indices slipped by 0.5%, each. -The market breadth stood in favour of decline. Of the 3052 stocks traded on the BSE, 1304 (42.73%) rose, 1631 (53.44%) fell and 117 (3.83%) stocks remained unchanged. -Among the sectoral indices- Top Gainers: S&P BSE CD up by 0.75%, S&P BSE Oil & Gas up 0.46% and S&P BSE PSU up 0.27%. Top Losers: S&P BSE IT down 1.27%, S&P BSE TECk fell 1.14% and S&P BSE Realty down 0.34%. -Among A group stocks, top three gainers were- MCX rose 5.50%, Ramco Cement surged 4.05% and HPCL up by 3.36%. Top three losers- Bhushan Steel slipped 20.00%, Bharti Infratel down by 6.59% and UPL fell by 4.90%. -Coming to currency, Indian rupee gained to 61.31/3250 from a session low of 61.55, the highest since March 14. Rupee gains from near five-month low. At 4.10 pm, Rupee traded at 61.3350. -Concerns about Portugals banking system hit the Lisbon stock market on Thursday and weighed on European equities, which were also kept in check by tensions between Western powers and Russia. -Asian shares retreated while investors flocked to safe haven assets such as bonds and gold on Thursday, spooked by a Russian troop build-up on the border with Ukraine and tit-for-tat economic sanctions between the West and Moscow. Earnings Corner Jubilant FoodWorks Q1 misses est; net profit down 18% -Net profit of the company fell by 18.44% to Rs27.73 crore Vs Rs34.00 crore (YoY). Total Income increased by 20.01% to Rs478.54 crore Vs Rs398.72 crore (YoY).
Posted on: Thu, 07 Aug 2014 17:56:40 +0000
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