Indian benchmark indices ended lower on Friday, tracking broad-based selling in Asian peers, mainly dragged by losses in banking, IT and auto stocks. Asian stocks declined amid worries that the spread of the Delta variant of coronavirus may hamper global economic recovery weighed on investor sentiment.
The
Sensex ended 183 points lower at 52,386 while the Nifty fell 38 points to settle at 15,690. Broader markets, however, outperformed benchmarks with the midcap and smallcap indices up over half a percent each.
On the Nifty50 index, Tata Steel, Bajaj Finserv, Adani Ports, Bharti Airtel, and Divi's Labs were the top gainers while Bajaj Auto, TCS, HDFC Bank, RIL and Axis Bank led the losses.
Here are the key stocks that moved today:
Edelweiss Financial Services: Shares of Edelweiss Financial Services were frozen in 10 percent upper circuit at Rs 86.50 after its June quarter shareholding data showed that ace investor Rakesh Jhunjhunwala increased his stake in the firm in Q1 by 0.4 percent. Jhunjhunwala holds 1.5 crore shares aggregating to a 1.61 percent stake in the firm in Q1 as against 1.1 crore shares or 1.1 percent stake in the March quarter.
Macrotech Developers: Shares of Macrotech Developers surged 13,7 percent to Rs 781.55 after the company said that it pre-sales clocked a growth of 88 percent YoY at Rs 957 crore versus Rs 509 crore in Q1FY21. "While April and May had very limited pre-sales on account of the second Covid wave in India, June saw pre-sales of Rs 654 crore. This pick-up in June is despite some continuing Covid related restrictions in our operating markets," the management said.
Tata Steel: Shares of Tata Steel jumped 4.2 percent to Rs 1,240 after CARE Ratings revised its long-term credit rating to AA+ and outlook to stable from negative. The revision in rating and outlook assigned to the instruments of Tata Steel Limited (TSL) factors in the improvement in performance witnessed during FY21, sequentially from Q2-FY21 onwards, particularly in Indian operations, on the back of revival in demand and increased steel prices leading to substantial cash flow generation and sizeable deleveraging at the end of FY21 resulting in improvement in debt coverage indicators, said the agency.
Bharat Dynamics: Shares of Bharat Dynamics (BDL) rose 1.5 percent to Rs 378.5 after the firm signed a contract worth about Rs 499 crore with the Ministry of Defence to manufacture and supply Akash Missiles to the Indian Air Force.
TCS: Shares of Tata Consultancy Services (TCS) declined 1.4 percent to Rs 3,212.10 after the company’s June quarter earnings missed street expectations. The country’s largest IT services provider reported a consolidated net profit of Rs 9,008 crore for the first quarter of fiscal 2022, registering a 2.6 percent sequential decline due to lower other income. Net profit was lower than CNBC-TV18 analysts’ poll estimates of Rs 9,352 crore.
(Edited by : Pranati Deva)
