Nifty Logs Best Day In Nearly Four Weeks, FIIs Bought Rs 156.08-Crore Stocks On July 18
India's stock benchmarks logged best day in nearly four weeks, and extended winning streak for the second day
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India's stock benchmarks logged best day in nearly four weeks, and extended winning streak for the second day, aided by gains in information technology, metal, banking stocks.
The Sensex gained 760 points (1.41%) to 54,521.15. This is the most the 30-stock gauge gained in nearly four weeks since June 21. The Nifty 50 also advanced by similar magnitude to 16,278.50. Today 42 of the Nifty 50 stocks rose while eight fell.
The broader indices almost mirrored their larger peers. Barring FMCG measure, all the other 18 sectoral indices compiled by BSE advanced.
The market breadth was skewed in the favour of bulls. About 2,357 stocks rose, 1,089 fell and 166 remained unchanged.
Foreign Investors Net Buyers
Foreign Portfolio Investors net bought equities worth Rs 156.08 crore on July 18, data from National Stock Exchanged showed. The domestic institutional investors were net bought stocks worth Rs 844.33 crore. Institutions have net sold Rs 2,092.49 crore worth of equities in July alone and Rs 54,510.49 crore so far this year.
10-Year Bond Yield Closes At 7.44%
Yield on the 10-year bond fell 4bps to 7.40%, during the session below closing little changed.
Rupee Closes At New Low For Sixth Day In A Row
Rupee fell 0.13% (10 paise) to close at a new low of 79.98 against the U.S. dollar.
KKR Denies Reports About Stake Sale In Max Healthcare
KKR says its affiliate Kayak Investments is not in discussions with any strategic acquirer or Indian business conglomerate in relation to a sale of its shareholding in Max Healthcare.
Source: Exchange filing
HeidelbergCement India Falls Most In Two Weeks On Q1 Miss
Shares of HeidelbergCement India fell 2.5% in intraday trade, most in over two weeks after the company reported net income for the quarter-ended June that missed average analyst estimate.
Q1 Results (YoY)
Net income down 25% at Rs 51.61 crore Vs. Rs 68.65 crore (Bloomberg consensus estimate: Rs 54.1 crore)
Revenue youp 6% at Rs 589.89 crore Vs. Rs 566.45 crore (BBG estimate: Rs 609 crore)
EBITDA down 27% at Rs 95.05 crore Vs. Rs 131.09 (Bloomberg estimate: Rs 102 crore)
EBITDA margins at 16.11% Vs. 23.14%
Trading volume is 3.5 times the 30-day average. Of the 23 analysts tracking the company, 11 maintain 'buy', seven suggest 'hold' and five recommend 'sell'. The return potential of the stock is 14.3%.
Source: Exchange filing, Bloomberg