The 30-share BSE Sensex was down 200.73 points at 31,874.05 and the 50-share NSE Nifty fell 42.95 points to 9,873 but the broader markets outperformed benchmarks, rising 0.2 percent on recovery in market breadth. About 1039 shares advanced against 965 declining shares on the BSE. Reliance Industries slipped 1.5 percent on profit booking after rising more than 12 percent in previous 11 consecutive sessions. ITC shares lost 11 percent after the GST Council hiked cess on cigarettes that contributed more than 45 percent to total revenue. ITC alone contributed 335 points to Sensex’ fall followed by Reliance Industries with 47 points.
Intraday Tips for Today (18th July)
Rupa & Company
Rupa & Co. will enter the US market with its two brands. The company will sell premium brand Micromax and MicroWebman online. The company has tied up with international designers to increase sales. Both brands own 20% of the total sales in the company.
C & C Construction
C & C will sell the entire share in construction of 2 projects of Roads Projects. The Board has already approved the sale of the stake.
HCL Info will sell Apple products. This week will be the deal for distribution partnership.