Get App
Benchmark equity indices pared early gains to close lower after investors turned cautious ahead of the key US retail inflation data due later today. The Sensex fell 0.69% and the Nifty 50 index lost 0.57%.
Top gainers among Nifty sectoral indices were Nifty Pharma [1.38%], Nifty FMCG [0.94%], Metal [0.80%], Media [0.5%] and Realty [0.28%]. Top losers were Energy [-1.48%], Oil & Gas [-1.32%], Pvt Bank [-1.05%], Financial Services [-0.97%] and Bank [-0.87].
Indian rupee fell 3 paise to 79.63 against the US dollar on Wednesday.
India’s retail inflation marginally eased in June to 7.01%, but was above the Reserve Bank of India’s tolerance limit as lower fuel and cooking oil prices were offset by higher services and food costs, according to government data.
In othe news, industrial production growth surged to 19.6% in May, as per the National Statistical Office (NSO) data.
Stock in News Today
IndusInd Bank: In an exchange filing, the lender said that there is no credit exposure to entities being probed by ED. The ED has been investigating a few entities for alleged irregularities in remittances for import transactions between 2011 and 2014. The lender said it had suo moto filed Suspicious Transaction Reports with regulatory authorities during the relevant period.
Adani Ports and Special Economic Zone (APSEZ): The company has clocked a cargo throughput of 100 MMT in the first 99 days of FY23, compared to 100 MMT cargo throughput in 109 days in the previous year. The improvement in time and efficiency was driven by tech-based innovations to integrate conventional business processes with new-age digital technologies.
Care Ratings Ltd: shares of the rating agency jumped 15.21% after the company informed the exchanges that it will consider a proposal for buyback of equity shares in its board meeting on July 20.
Thomas Cook (India): The travel company has partnered with Mastercard and HDFC Bank to launch another exciting holiday campaign – #FunTasticAsia. This campaign provides an instant discount to customers when they book their holidays to South East Asian destinations of Singapore, Malaysia, Thailand and Indonesia. The offer is exclusively available for payments made on HDFC Bank Mastercard debit or credit cards.
Bajaj Healthcare: The company said it has forayed into the highly regulated opiate processing business. The company has received two orders from the central government to produce active pharmaceutical ingredients (API) from poppy capsules and other derivatives on an annual basis, according to its exchange filing.
Paint and FMCG companies: Shares of companies in these two industries rose after the crude prices declined below $100 per barrel. This would ease some pressure on input costs for the paint and FMCG companies.
Mahanagar Gas: The company has incresed CNG prices by Rs 4/kg to Rs 80/kg in Mumbai and of domestic PNG by Rs 3/SCM to Rs 48.50/SCM. The state-run utility attributed the increase to the rise in input costs and depreciation of rupee.