Sensex Opens Flat; Bajaj Auto and Hero MotoCorp Top Losers

Mon, 29 Jul 09:30 am

   Previous Close   

   Pre-Open   

   12:30 pm   

   Closing   

Asian share markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.6% while the Hang Seng is down 1.1%. The Shanghai Composite is trading down by 0.1%. Robust earnings from Alphabet and Starbucks pushed the S&P 500 and Nasdaq indices to record highs on Friday, with support from data showing US economic growth slowed less than expected in the second quarter.

Back home, India share markets opened the day on a flat note. The BSE Sensex is trading down by 22 points while the NSE Nifty is trading down by 5 points. The BSE Mid Cap index opened down by 0.6%, while BSE Small Cap index opened down by 0.2%.

Barring power stocks, IT stocks, and FMCG, all sectoral indices have opened the day on a negative note with automobiles stocks and telecom stocks witnessing maximum selling pressure.

The rupee is currently trading at 68.92 against the US$.

In the news from the economy. Reversing their five-month buying trend, overseas investors have pressed the exit button in July and pulled out a net Rs 37.6 billion from the Indian capital markets on account of multiple headwinds, including the super-rich tax announced in Budget 2019-20.

As per the latest depositories data, foreign portfolio investors (FPIs) pulled out a net sum of Rs 143.8 billion from equities during July 1-26, but invested Rs 106.2 billion in the debt segment, taking the total net outflow to Rs 37.6 billion.

Prior to this, FPIs infused a net Rs 103.8 billion in June, Rs 90.3 billion in May, Rs 160.9 billion in April, Rs 459.8 billion in March and Rs 111.8 billion in February into the Indian capital markets (both equity and debt).

In addition, sub-par monsoon in key areas, lacklustre earnings season, slowing domestic growth and weak rupee added to the concerns of FPIs, the reports noted.

On the other hand, inflow in debt markets was witnessed amidst re-emergence of growth concerns globally, due to which central banks around the world softened their monetary policy stance.

The recent fall shows the impact of foreign investors (FPI) on the Indian share market.

FPIs have pulled out Rs 123 billion till date in July.

The reason for this are many.

From slowdown in the economy to the budget...

But, can the real reason be external?

In March this year, the Morgan Stanley Capital International (MSCI) announced it would increase the weightage of Chinese A shares (stocks trading in mainland China) by 4 times. These shares form around 10% of total Chinese shares in the index.

FPIs investing in passive funds follow the MSCI EM index for investments in emerging markets.

A comparison of India's weightage with China in the MSCI EM index provides us clues on the recent outflows from FPIs.

Will India be the Next Hot FPI Destination?

It also explains the announcement to reduce promoter shareholding in the budget.

Will we see a similar FPI inflow in to Indian stocks?

Looking at the recent inflow in to the Chinese stock markets, it seems very likely.

Moving on to the news from the banking sector. ICICI Bank reported a standalone net profit of Rs 19.1 billion during the quarter ended June 2019.

The private lender had posted a loss of Rs 1.2 billion during the corresponding quarter last fiscal, and a profit of Rs 9.7 billion during the March quarter of last fiscal.

In consolidated terms, the profit after tax was Rs 25.1 billion in Q1FY20, as compared to Rs 5 million in Q1 FY19.

The ICICI Bank registered net interest income (NII) of Rs 77.4 billion during the June quarter of FY20, amounting to a year-on-year increase of 27% from Rs 61 billion.

The net interest margin was 3.6% in Q1-2020 compared to 3.2% in Q1-2019 and 3.7% in Q4-2019. The impact of interest on income tax refund and interest collection from NPLs on net interest margin was about 17 basis points in Q1-2020 compared to about 25 basis points in Q4-2019.

The non-interest income of ICICI Bank, excluding treasury income, was Rs 32.5 billion in Q1 FY20, as compared to Rs 30.9 billion in Q1 FY19. Meanwhile, provisions and contingencies slipped down to Rs 34.9 billion during the quarter under review, as compared to Rs 59.7 billion during the corresponding quarter last year.

The ICICI Bank also improved its asset quality during the June quarter of FY20. The net NPA decreased by 51% to Rs 118.6 billion as on June 2019, from Rs 241.7 billion the same quarter last fiscal.

The net NPA ratio also slipped down to 1.8% during the quarter ended June 2019, in comparison to 4.2% the same quarter last year. The gross additions to NPA were Rs 27.8 billion in Q1 FY20, as opposed to Rs 40.4 billion in Q1 FY19.

Total deposits increased by 21% year-on-year to Rs 6,607.3 billion in June 2019.

ICICI Bank share price opened the day up by 2.8%.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers