Union Budget, Nifty near 12,000 - Union Budget scheduled to be announced from 11 a.m. by FM Nirmala Sitharaman. The Sensex reclaimed the 40,000-mark, while the Nifty is trading near the crucial 12,000-mark. The Sensex is up about 108 points to 40,016, while the Nifty is trading 35 points higher at 11,980. Shares of IndusInd Bank, L&T are among the biggest gainers, jumping up to 0.90%. In the Nifty, 38 shares registered gains while 12 registered declines.
Eveready Industries gains 2% in early trade -- Yes Bank acquired 9.47 percent stake in the company.
DLF trading flat -- Company fixed July 23 as the record date for determining entitlement of shareholders for dividend for FY19.
CATCH ALL MARKET UPDATES -
1 Divis Labs dips 2%
2 Motherson Sumi slips 1% in early trade
3 Guess Corp soars 5% in early trade
4 HDFC Life Insurance Co gains over 1%
5 Mcleod Russel India slips over 4%
YES Bank slips 3%, hits a fresh five-year low- Yes Bank Extends Decline; Shares At Over Five-Year Low Shares of Yes Bank extended declines for the fourth consecutive trading session. The stock fell as much as 4.2 percent to Rs 92.25, their lowest levels since May 2014 The stock is set for its longest losing streak since April 8. The Relative Strength Index was below 30, indicating that the stock may be overbought, according to Bloomberg data.
GMR Infra gains 3% in trade - Group sold an entire stake of 47.62 percent in GMR Chhattisgarh Energy to Adani Power.
Rain Industries up 3% -- India Ratings revised the outlook to ‘stable' from 'positive'
Agarwal Industrial Corp zooms 5%-- CARE for the first time assigned to the company 'BBB' rating for bank facilities (short term) for an aggregate amount of Rs 100 crore
Rupee Opening - The Indian rupee opened at 68.55 a dollar, lower by 6 paise compared to Thursday's close of 68.49 a dollar.
Budget Expectations
As MODI 2.0 sets out to present its first budget, the task seems to be cut out due to 1) deep agrarian distress 2) slowdown in Automobiles and consumer demand 3) NBFC crisis and rising pressures in real estate and housing 4) need to provide tax relief to middle class and 4) required push for revival of capex cycle in the economy, Prabhudas Lilladher said. The brokerage believes that shortfall indirect tax and GST collections post an incremental challenge to balance fiscal math.
GM Breweries Slumps - After Q1 Results Announcement Shares of the liquor maker slumped 7.8 percent intraday to Rs 455, their lowest since October 2017 after the June quarter results.
Westlife Development Gains - After Block Deal Shares of Westlife Development rose as much as 2.9 percent to Rs 315.05. About three lakh shares or 1.9 percent equity changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Sensex | Nifty | Union Budget | Budget 2019-20 | Share Market | Rupee | Dollar | Crude
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