HUL traded weak ahead of it's second quarter earnings later today, down over a percent. A CNBC-TV18 poll expects sales growth to remain muted across most categories with 5 percent year-on-year volume growth. Operating profit margin is likely to see an improvement of 90 bps.
12:24
Moneycontrol Bureau The market remained directionless in the expiry week. The 30-share BSE Sensex declined 6.68 points to 26844.37 while the 50-share NSE Nifty held 8000 level, down 2.50 points to 8012.05. Banking and financials, and capital goods stocks supported the market while auto, FMCG and oil stocks declined.Adrian Mowat of JPMorgan turned more bullish on India post the Brazilian election outcome, saying he would add more money into Indian equity market especially into banks and cyclicals like autos and building materials. He expects 20 percent returns from Indian market in next 12 months.
DLF and Jindal Steel topped the selling list in the Nifty, down nearly 8 percent. As far as DLF is concerned, reports indicated that the new BJP government in Haryana is going to heavily probe the company's land deals with Robert Vadra (son-in-law of Sonia Gandhi). In case of JSPL, report indicated that CBI registered preliminary enquiry against the company and some environment ministry officers for alleged diversion of forest land.
In key results today, HUL traded weak ahead of it's second quarter earnings later today, down over a percent. A CNBC-TV18 poll expects sales growth to remain muted across most categories with 5 percent year-on-year volume growth. Operating profit margin is likely to see an improvement of 90 bps.
L&T, Bharat Electronics and Walchandnagar Industries shot up 1-10 percent on the hope of additional orders after the centre gave nod to defence projects worth Rs 80,000 crore.
Tata Motors fell over 2 percent followed by ONGC, Reliance Industries, Wipro and NTPC with around a percent. However, Dr Reddy's Labs and BHEL gained 2-3 percent.
11:07
BHEL, Dr Reddy's Labs, HDFC, GAIL and SBI are major gainers while Tata Motors, ONGC, HUL, M&M and NTPC are major losers in the Sensex. DLF is down 8 percent.
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10:00
Commercial vehicle maker Tata Motors and utility vehicle maker Mahindra & Mahindra fell more than 1.5 percent on profit taking. Two-wheeler manufacturers Hero Motocorp and Bajaj Auto declined 0.8 percent each while car maker Maruti Suzuki lost 0.4 percent.
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09:11
Dr Reddy's Labs, TCS, BHEL and HUL are top gainers in the Sensex. Among the losers are Wipro, GAIL, Cipla and Sun Pharma.
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