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POST-MARKET REPORT
Benchmark indices Sensex and Nifty had a rough day on the bourses, slipping almost 3 percent each on August 5 as weak global cues fueled recession fears among investors, resulting in a broad-based selloff.
At close, the Sensex was down 2.7 percent at 78,759 and the Nifty was down at 24,055. About 469 shares advanced, 3,084 shares declined, and 88 shares were unchanged.
Among sectors, all 13 indexes plunged in today’s session. Nifty Metal and Realty were the worst hit, tanking 5 and 4.5 percent, respectively. The Nifty Auto and Energy index followed next, slipping almost four percent.
Metal stocks such as Tata Steel, Hindalco, and JSW Steel were the major laggards. Tata Motors was the top loser on the Nifty, tanking almost eight percent on the bourse.
The broader markets, also known as mid-small caps indexes, tanked more than the headline indices and underperformed after slipping 3.4 and 4.2 percent each.
India’s VIX also surged by over 42 percent to be at around 20.37. The volatility index rose as much as 52 percent, the highest since August 2015, a nigh-year-high.
STOCKS TODAY
Ashoka Buidcon: Shares tanked over 5 percent despite it being the lowest bidder for two projects of the Mumbai Metropolitan Region Development Authority (MMRDA) for around Rs 1,280 crore. This comes after the market crashed, plunging almost 3 percent, as global cues and recessionary fears dented sentiment.
Sheela Foam: Shares fell over 4 percent after the company posted a weak set of operational performance in Q1 FY25. The company’s EBITDA fell 23 percent year-on-year to Rs 59.9 crore, down from Rs 77.6 crore in Q1 FY24. The margin also contracted by 460 basis points (bps) to 7.4 percent in Q1 FY25 from 12 percent in Q1 FY24.
Devyani International: Shares rose 0.7 percent after reporting a net profit of Rs 22.43 crore in the June quarter, a substantial turnaround from the loss of Rs 1.59 crore in the year-ago period. It also reported a 44.3 percent YoY increase in revenue to Rs 1,221.9 crore.
Suven Life Sciences: Shares were locked in a 5 percent lower circuit after the company reported a net loss of Rs 28 crores for the June quarter and its revenue fell 74 percent YoY to Rs 1 crore.
Marico: Shares rose 1.5 percent after the company posted a year-on-year rise in its revenue, net profit, EBITDA, and margin for the June quarter.
Century Enka: Shares rose 1.8 percent after the company reported that its net profit rose to Rs 24.3 crore in the June quarter from Rs 13.7 crore in the year-ago period.
Keystone Realtors: Shares fell nearly 5 percent after the company reported a year-on-year decline in its net profit, EBITDA, and margin for the June quarter.
South West Pinnacle Exploration: Shares rose 2 percent after the company won an order worth Rs 50 crore from the Central Ground Water Board.