Markets ended flat with the Nifty50 settling at a new closing high on Tuesday amid strong global markets. The Sensex fell 26 points settling at 37,666-mark, while Nifty closed with a minimal gain of 2 points at 11,389-level
Bank stocks come out among the top drags today. The heavyweights such as PNB, Bank of Baroda, SBI, ICICI Bank and Axis Bank suffered losses. PNB plunged 8% after it reported a net loss at Rs 940 crore for June quarter. Syndicate Bank shed 5% after it said that due to a rise in bad loans Bank’s net losses had widened to Rs 1,281.77 crore during the first quarter ended June.
Auto major Mahindra & Mahindra reported 67% year on year rise in profit at Rs 1,257 crore for June quarter, despite its stock went down 0.72%, whereas TVS Motor’s stock went up 3.70% at Rs. 547.35 after the auto maker reported increase PAT at Rs 146.6 crore for the June quarter.
The Four stocks namely, VIP Industries Limited, Morepen Laboratories, Adani Green Energy and Gujarat Ambuja Exports included today in the ASM framework (additional surveillance Mechanism). Out of these four, except VIP Industries’ stock which rose up 4.99% today, the remaining three stocks went down by 4.95, 4.98%, and 4.99% respectively in trade today.