Share Market

At the end of the day's trade, the market capitalisation of Zomato was at Rs 98,731.59 crore. On Friday, its shares on the BSE closed at Rs 125.85, higher by Rs 10.85 or 9.43 per cent from the issue price of Rs 76 per share.At the BSE, it got listed at Rs 115 a share. Further, on the National Stock Exchange, its shares ended the day's trade at Rs 125.30, against the issue price of Rs 76.

At around 12.20 p.m., shares of Vodafone Idea on the BSE were trading at Rs 8.58, lower by 7.24 per cent from its previous close. A bench headed by Justice L. Nageswara Rao said all applications dismissed. On Monday, the apex court already said it would pass its order on applications filed by Vodafone Idea, Bharti Airtel and Tata Tele Services Ltd, alleging arithmetical errors in calculation of AGR dues payable by them.

According to market watchers, inflationary and growth concerns will continue to impact investors' sentiments. The key equity indices were closed on Wednesday on account of Eid. For the week so far, NSE Nifty50 is down 1.83 per cent after making multiple tops on weekly charts in the 15,901-15,962 band. Besides, market watchers, expect some mild recovery till the 15,962 level is not breached, however, possibility of a correction still remains.

Lack of free trade agreements (FTAs) and significant improvement in peer competitiveness are the main reasons for this fall. Textiles is important to India's $313 billion merchandise exports as it accounts for 11 per cent of the pie. The sector is also a significant employment generator. Given its economic importance, the sector has seen a slew of measures from the government of late.

This is the highest number of broker defaults in the past 20 years. Until then, there were 18 broker defaults on the National Stock Exchange (NSE). If the brokers have a membership of the Bombay Stock Exchange (BSE), they are suspended by that exchange too. Ten more brokers have been defaulted or been expelled by the NSE between December 2020 and July 2021.

Accordingly, market observers, opined that healthy earnings announced till now have ignited investors' interest in largecaps and expanded volumes. Lately, Infosys and Wipro have come out with encouraging quarterly numbers. In the upcoming week companies such as ACC, HCL Tech, Asian Paints, Bajaj Finance, Bajaj Auto, HUL, JSW Steel, ICICI Bank and ITC are expected to come out with their quarterly numbers.

In a statement issued on Tuesday, the exchange said that it has received some enquiries about certain Nifty futures trades that were higher than the prevailing price on July 5, 2021. "An explanation has been sought from the member as to why the order was placed at a price higher than prevailing price in the market which could have misled the market," it said.

At 3 p.m., its shares on the BSE were at Rs 321.40, lower by Rs 24.65 or 7.12 per cent from its previous close. It has touched an intra-day low of Rs 311.45 per share. After a positive trend for a large part of the day, the decline started around 2 p.m. Retail sales for the first quarter ending June 30 were 1,24,537 vehicles, 68.1 per cent higher than the 74,067 vehicles sold in Q1 last year.

Heavy buying activity was witnessed in banking and financial stocks. Around 2.15 p.m., Sensex was trading at 53,116.73, higher by 236.73 points or 0.45 per cent from its previous close of 52,880.00. It opened at 52,874.85 and has so far recorded an intra-day low of 52,805.88 points. The Nifty50 was trading at 15,897.10, higher by 62.75 points or 0.4 per cent from its previous close.

The Indian stock market shed its initial gains on Friday morning to trade on flat-to-negative note. Healthy buying was witnessed in metal and auto stocks. However, oil and gas stocks were under heavy selling pressure. Around 10.06 a.m., Sensex was trading at 52,635.33, lower by 63.67 points or 0.12 per cent from its previous close of 52,699.00 points.