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Indices slip again after Amit Shah’s Kashmir statement, Nifty near 10,850

Nifty Wipes Off 2019 Gains On Kashmir Tensions, Global Woes Indian equity benchmark NSE Nifty 50 erased 2019 gains as the escalating tensions concerning Jammu & Kashmir and the trade dispute between China and the U.S. spooked investors. The 50-stock index dropped over 10 percent from its record high. It closed 1.23 percent lower today at 10,862.50.

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One Nation, One Law’ Has A Short-Term Negative Impact On Market, Karvy Stock Broking Says The move on ‘one nation, one law’ has a short-term negative impact on the market, according to Karvy Stock Broking CEO Rajiv Singh. “There are larger reasons for the decline today,” Singh said in a statement. “However, we believe that the downside is now limited and the Nifty will stay in the range of 10,500 -11,200 in the near-term.”

Nesco Q1 result: Consolidated net profit up 3% at Rs 37.9 crore against Rs 36.8 crore, revenue up 3% at Rs 78.3 crore versus Rs 76 crore, YoY.

Rupee Update: Rupee is trading lower by 92 paise at 70.51 per dollar against Friday's close 69.59 per dollar.

Dwarikesh Sugar Q1: Net profit was down 35.2 percent at Rs 19.9 crore against Rs 30.7 crore, revenue was up at Rs 379 crore versus Rs 376.4 crore, YoY.    

NEWS ALERT | India may contemplate setting up Coal price index: sources to BTVi

-- Panel headed by former CVC Pratyush Sinha to meet on Aug 8

-- Former SBI chairperson Arundhati Bhattacharya member of the panel

-- Panel set up last year to suggest changes in bidding, pricing system. 

Earnings Alert | Indian Bank Q1 result

-- Provisions at Rs 795 cr, down 22% YoY; PCR at 66.34%

-- PAT at Rs 365 cr, up 74% YoY

-- Capital adequacy ratio at 13.62%

-- NII at Rs 1,785 cr

People of J&K thankful to PM Modi for mitigating their pain: BJP on Article 370 -

The Jammu and Kashmir unit of the BJP on Monday welcomed the government’s “historic” decision on Article 370 of the Constitution, which grants special status to the state, saying the people were thankful to Prime Minister Narendra Modi for “mitigating their pain”. Reacting to the developments after Home Minister Amit Shah moved a resolution in Rajya Sabha to revoke Article 370, state BJP president Ravinder Raina said the residents of Jammu and Kashmir irrespective of their caste, creed, and religion are with the prime minister.

Gold hits six-year high: Gold prices jumped more than 1% to their highest in more than six years on Monday, as the escalating trade war between the United States and China along with global growth worries drove investors towards safe-haven assets.

RIL share price plunges 5% after Credit Suisse downgrade; check revised target stock price - 
Shares of billionaire Mukesh Ambani-led Reliance Industries plunged on Monday after global brokerage firm Credit Suisse downgraded the stock. Reliance Industries share price tanked by more than 5% to hit the day’s low at Rs 1,129. Notably, Credit Suisse has slashed RIL’s target stock price to Rs 995. 


Market News | Article 370 | Kashmir |  Bank Nifty | Rupee | Gold | Closing Bell

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