How are the bluechips doing?
After opening in the red, benchmark indices extended the fall. At 02.20 pm, BSE flagship Sensex was down 626 points or 1.18 per cent to 52,513.57. NSE benchmark Nifty dropped 182 points or 1.15 per cent to 15,740.45.
In the 50-share pack Nifty, BPCL was the biggest gainer, up 1.31 per cent. Divi s Lab, NTPC, Tata Consumers,
Nestle, Britannia and L&T were among other gainers.
HDFC Bank was the top loser in the pack, down 3.44 per cent.
IndusInd Bank, Adani Ports, HDFC, Axis Bank, HDFC Life and Hindalco were other losers in the pack.
FACTORS DRIVING MARKETS
Bad news:
Economic recovery falters: Global economic growth is beginning to show signs of fatigue. Economists at Bank of America downgraded their forecast for US economic growth to 6.5 per cent this year, from 7 per cent previously, but maintained their 5.5 per cent forecast for next year.
Here are the top stocks to track in today s session:
Results Today: ACC, HCL Technologies, HDFC Life, Indian Bank and Mastek are among 25 firms slated to post their June quarter numbers today. HCL Tech s Q1 performance is likely to be impacted due to supply-side challenges amid the second Covid-19 wave. The net profit could rise in the range of 6-11 per cent year-on-year on a 14 per cent growth in revenue (rupee terms). The company could give a specific guidance range for FY22 at around 12–13 per cent - moving away from a generic double-digit projection mentioned earlier, according to Edelweiss Securities.
HDFC Bank: The country s largest private sector lender reported a 14.36 per cent growth in its consolidated net profit at Rs 7,922.09 crore. The city-headquartered bank had posted a consolidated net profit of Rs 6,927.24 crore in the corresponding quarter a year ago.
Bajaj Auto: The two wheeler manufacturer said it has commenced bookings for its electric scooter Chetak in Nagpur from July 16. With the aim of providing a seamless and convenient booking experience, customers can book the vehicle exclusively online on www.chetak.com for Rs 2,000, it said.
ITC: Total foreign exchange earning of the group from exports in FY 21 rose 29.08 per cent to Rs 5,934 crore, the company s latest annual report said. While, the foreign exchange earned by ITC Ltd was up 31.2 per cent to Rs 4,600 crore, mainly on account of exports of agri-commodities.
Nifty to fall over 200 points at open - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.