Indian indices continue its downtrend on the fifth consecutive day on July 24 with Nifty finished below 11,300 level.
At close, the Sensex was down 135.09 points at 37,847.65, while Nifty was down 60 points at 11,271. About 834 shares have advanced, 1588 shares declined, and 153 shares are unchanged.
UPL, Adani Ports, Indiabulls Housing, Eicher Motors and IndusInd Bank were some of the major losers on the Nifty, while gainers include Zee Entertainment, Asian Paints, HUL, HDFC and HCL Technologies.
Among the sectors, metal index slipped over 2 percent, followed by auto, energy, infra, IT and pharma. Midcap index was down 1.5 percent, while Smallcap index shed over 1 percent.
HEADLINES OF THE DAY
V-Guard Industries Q1: Net profit rose 53.6% at Rs 53 crore against Rs 34.5 crore, revenue was up 10% at Rs 706.6 crore against Rs 642.4 crore. EBITDA up 52.1% at Rs 72.1 crore, while margin up at 10.2%, YoY.
Canara Bank Q1: Net profit up 16.9% at Rs 329.1 crore against Rs 281.5 crore, net interest income was down 16.6% at Rs 3,240.1 crore versus Rs 3,882.9 crore, YoY.
Jubilant Foodworks Q1: Jubilant Foodworks, the operator of Domino's Pizza has reported marginal fall in its consolidated net profit for the quarter ended June 2019. The company's Q1FY20 net profit was down 0.9 percent at Rs 71.5 crore against Rs 72.1 crore in the same quarter last fiscal. Revenue of the company was up 10 percent at Rs 949.1 crore against Rs 863.2 crore.
TVS Motor Singapore to invest USD7 mn in Scienaptic Systems: TVS Motor (Singapore) Pte. a wholly-owned subsidiary of TVS Motor has signed definitive agreements to invest USD7 million in Scienaptic Systems Inc. The closing of the investment is subject to obtaining appropriate regulatory approvals.
The crucial resistance for Nifty spot is now seen at 11460 and above this 11600 Support for the immediate term is now placed at 11140 next support will be 11020.
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