The stock market closed with a major fall on the first trading day of August. The Bombay Stock Exchange's 30-share sensitive index Sensex has hit a two-week low. The Sensex recorded a major fall of 667.29 points. The Sensex closed at 36,939.60 on Monday. At the same time, the National Stock Exchange's Nifty dipped by 173.60 (-1.57%) points and closed at 10,899.85.
Kotak Mahindra Bank was the biggest loser among the BSE Sensex stocks, losing four percent. IndusInd Bank, Axis Bank, ONGC, HDFC Bank, Bajaj Auto, and Reliance Industries Limited (RIL) also declined after that. In contrast, Titan, Tata Steel, HCL Tech, Larsen and Toubro and State Bank recorded gains. Marketmen said that the heavy selling in RIL and HDFC Bank and HDFC led to the fall in the market. Ie
Along with this, there has been a growing concern among investors due to the withdrawal of foreign exchange, increasing cases of Kovid-19 infection. More than 180 million people worldwide have suffered from coronavirus infection. So far more than 18 lakh people have been affected in India. Among the global markets, Shanghai, Tokyo, Seoul closed in positive terms while Hong Kong remained in a downward trend. The business started in a positive trend in Europe. Crude oil benchmark Brent crude fell 0.69 percent to USD 43.22 per barrel in global markets.
It was like this all-day
The stock market opened with a fall on Monday. The Sensex fell 11.16 points to open at the level of 37,595.73. At the same time, the National Stock Exchange started the business with a nifty loss.
The stock market continued to fall at 2:27 pm. Sensex has hit a two-week low. The Sensex was seeing a decrease of 602.79 points i.e. 1.60%. This 30-share sensitive index of the Bombay Stock Exchange has come down to 37,004.10. The Nifty was down 165.65 (-1.5%) points at 10,907.80.
The market has derailed at 11 o'clock. The Sensex is trading at a level of 37,190.92, losing 415.97 points. At the same time, Nifty has also come down to 10969 levels after diving 103 points. In the Sensex, stocks such as Reliance Industries, IndusInd Bank, Kot Mahindra Bank, Axis Bank, HDFC Bank, Infosys are showing heavy losses. On the other hand, Titan, Tata Steel State Bank, Mahindra & Mahindra, and HCL Tech were the green marks.
Bank of India's first-quarter profit increased more than three times
The net profit of the public sector bank of India (BOI) increased more than three times in the first quarter of the current financial year to Rs 843.60 crore from the same period a year ago. This increase in profits was achieved by reducing the burden of debt on the bank. In the regulatory information sent to the stock markets, the BOI said that its total income in April to June 2020 quarter increased to Rs 11,941.52 crore from Rs 11,526.95 crore a year ago. On the property front, the bank's gross non-performing assets (NPAs) declined to 13.91 percent as of 30 June 2020. It was 16.50 percent in the same period a year ago. Net NPAs also declined to 3.58 percent from 5.79 percent during the period under review.
The provision made instead of bad loans of the bank due to reduced NPAs stood at Rs 766.62 crores in the first quarter of the current financial year compared to Rs 1,873.28 crores in the same period a year ago. Contingent expenditure and various provisions have also come down in the quarter under review. A year ago, where a total of 1,911.98 crore was kept under this head, this amount was reduced to Rs 1,512.07 crore in this quarter.
Kotak Bank recorded the highest loss of three percent among the leading losers of the Sensex. Along with this, shares of IndusInd Bank, HDFC Bank, ONGC, Power Grid, Axis Bank, Sun Pharma, and Reliance Industries Ltd (RIL) also declined. On the other hand, Bajaj Auto, Titan, Maruti Suzuki, Mahindra & Mahindra, and State Bank shares closed up. Earlier, on the last trading session on Friday, the 30-share BSE Sensex fell 129.18 points, or 0.34 percent, to 37,606.89 points and the Nifty closed 28.70 points or 0.26 percent down at 11,073.45 points.
Six of Sensex's top 10 companies lost market capitalization
The market capitalization of six of the top 10 Sensex companies fell by Rs 1,38,840 crore last week. Reliance Industries and HDFC Bank suffered the most. Last week, the 30-share BSE Sensex lost 522.01 points or 1.36 percent. The market capitalization of Reliance Industries declined by Rs 50,240 crore to Rs 13,10,323 crore during the week. Similarly, HDFC Bank's valuation declined by Rs 46,375 crore to Rs 5,67,878 crore. ICICI Bank's market position declined by Rs 22,632 crore to Rs 2,24,659.85 crore and that of HDFC by Rs 10,078 crore to Rs 3,09,254 crore.
While ITC's market valuation declined by Rs 6,815 crore to Rs 2,38,661 crore and Bharti Airtel fell by Rs 2,700 crore to Rs 3,02,702 crore. In contrast to this trend, the market capitalization of Tata Consultancy Services (TCS) rose by Rs 47,055 crore to Rs 8,56,463 crore in the week under review. Infosys' market capitalization rose by Rs 18,592 crore to Rs 4,11,554 crore. Kotak Mahindra Bank's valuation rose by Rs 3,482 crore to Rs 2,70,600 crore. Hindustan Unilever's market capitalization increased by Rs 740 crore to Rs 5,19,932 crore. Reliance Industries retained the first position in the list of top ten companies. It was followed by TCS, HDFC Bank, Hindustan Unilever, Infosys, HDFC, Bharti Airtel, Kotak Mahindra Bank, ITC and ICICI Bank respectively.
0 Comments