Stock markets end lower; HDFC Bank, foreign fund outflows drag
Mumbai, Jul 2 (PTI): Benchmark BSE Sensex declined by 287 points on Wednesday due to profit selling in HDFC Bank, L&T and Reliance Industries shares and caution ahead of the impending US tariff deadline.
Paring its early gains, the BSE Sensex closed lower by 287.60 points or 0.34 per cent at 83,409.69. During the day, it dropped 546.52 points or 0.65 per cent to 83,150.77.
The 50-share NSE Nifty declined by 88.40 points or 0.35 per cent to settle at 25,453.40.
Flight of foreign capital from equities and a mixed trend in global equities impacted market sentiment, traders said.
Among Sensex pack, Bajaj Finserv, Larsen & Toubro, Bajaj Finance, HDFC Bank, Bharat Electronics and Kotak Mahindra Bank were the major laggards.
However, Tata Steel, Asian Paints, UltraTech Cement, and Trent were the biggest gainers.
"Mixed global cues, particularly ahead of the impending tariff deadline, are driving investor caution. Market attention is gradually shifting to crucial Q1 earnings, which have high expectations.
"Underlying trends such as robust macroeconomic fundamentals and increased government expenditure continue to support market resilience. However, being at the breach level of the recent rally, a cautiousness is expected to continue in the near term," Vinod Nair, Head of Research, Geojit Investments Limited, said.
The BSE smallcap gauge declined 0.20 per cent and midcap index dipped 0.18 per cent.
Among BSE sectoral indices, realty dropped 1.36 per cent, financial services (0.92 per cent), industrials (0.84 per cent), power (0.77 per cent), bankex (0.69 per cent) and capital goods (0.69 per cent).
Metal (1.44 per cent), consumer durables (1.22 per cent), commodities (0.90 per cent), telecommunication (0.55 per cent) and auto (0.22 per cent).
As many as 2,205 stocks declined while 1,809 advanced and 157 remained unchanged on the BSE.
India's manufacturing sector growth rose to a 14-month high of 58.4 in June, marked by improved trends in output and new orders, alongside a record upturn in employment, a monthly survey said on Tuesday.
The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index – an indicator of sector performance - was 57.6 in May.
Gross GST collection increased by 6.2 per cent to over Rs 1.84 lakh crore in June but slipped below the Rs 2 lakh crore mark recorded in the previous two months.
The GST mop-up stood at Rs 1.74 lakh crore a year ago, as per government data released on Tuesday.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index and Shanghai's SSE Composite index settled lower while Hong Kong's Hang Seng index ended higher.
European markets were trading in positive territory in mid-session deals.
The US markets ended on a mixed note on Tuesday.
Global oil benchmark Brent crude climbed 0.86 per cent to USD 67.69 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,970.14 crore on Tuesday, according to exchange data.
On Tuesday, the Sensex rose by 90.83 points or 0.11 per cent to settle at 83,697.29. The Nifty gained 24.75 points or 0.10 per cent to close at 25,541.80.
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Public can obtain e-pass online to watch Independence Day celebrations in Bengaluru: BBMP
Bengaluru, Aug 13 (PTI): For the first time, the general public can obtain e-pass online to watch the 79th Independence Day celebrations, said Maheshwara Rao, Chief Commissioner, Bruhat Bengaluru Mahanagara Palike (BBMP) on Wednesday.
Rao, along with the Commissioner of Police, Bengaluru, Seemanth Kumar Singh, was briefing the media here about how Bengaluru is preparing for the state-level ceremony to be held on August 15 at Field Marshal Manik Shah Parade Ground, Cubbon Road, Bengaluru.
“Earlier invitations were distributed by government officials to special invitees and to those involved in the ceremony. Now, people can obtain an e-pass from the Seva Sindhu website (www.sevasindhu.karnataka.gov.in),” added the commissioner.
He said a live telecast of the programme is also available on Doordarshan.
According to him, the viewing gallery for the public at the venue has been expanded to allow more people to watch the programme in person.
Chief Minister Siddaramaiah will hoist the Indian flag, following which he will inspect the parade in an open jeep and receive the guard of honour.
Siddaramaiah will also deliver an Independence Day message.
On ground security checks are already underway, said the Police Commissioner.
“Police have been deployed on guard duty at the ground for the last 15 days. They are also checking all the hotels, lodges and rest houses for any suspicious activities,” said Singh.
CCTV cameras and baggage scanners, Door Frame Metal Detector and Hand-Held Metal Detector have been installed around the ground to closely monitor all the events, he added.
He also appealed to those with green passes (e-passes) to arrive at Gate no. 05 from the Manipal Centre side via Cubbon Road.
He urged people not to carry any unnecessary luggage or items with them. Even essential items like mobile phones, water bottles, helmets, cameras, radios and umbrellas are best left behind to facilitate quick entry into the venue, he added.
Meanwhile, Bengaluru Traffic Police has appealed to the public to use public transport and metro service as much as possible, due to the lack of space for parking vehicles at Manik Shah Parade Ground and nearby areas.
Parking will not be allowed at Central Street (from Anil Kumble Circle to Shivajinagar Bus Stand), Cubbon Road (from CTO Circle to K R Road and Cubbon Road Junction) and MG Road, from Anil Kumble Circle to Trinity Circle), added a Traffic Police advisory issued on Wednesday.
