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The
benchmark indices ended lower ahead of the August F&O expiry due on Thursday, as the Rupee hit a record low of 70.51
against the US dollar.The
S&P BSE Sensex ended at
38,723, down 174 points while the broader Nifty50 index settled at 11,692, down
47 points.Among sectoral indices, the Nifty IT index ended 0.37 per cent lower weighed by a
fall in Infosys and Tata Elxsi. The Nifty Bank index, too, slipped 0.16 per cent due to
fall in IndusInd Bank and Yes Bank.In individual stocks, oil-to-telecom
giant Reliance Industries (RIL) settled 1.8 per cent lower at
Rs 1,294 level on the BSE..
Mr. Bharat Puri (CEO, Pidilite) gave cautiously optimistic outlook on
demand post 4 consecutive quarters of double digit volume growth. PIDI is well
placed to capitalize on the growth opportunity in adhesive and sealants given
strong brand like Fevicol and extension of Fevicol to new applications in line
with construction trends. Emerging businesses like Nina, Percept (waterproofing
services), ICA (wood coatings), Dr. Fixit (waterproofing), Roff (tiling
solutions) and CIPY JV's (floor coatings) will emerge as key growth drivers in
coming years. Rising VAM, packaging and depreciating rupee is near term
concern; however, ~3% price increase in select products will prevent any
meaningful margin compression. Bangladesh and Sri Lanka are likely to be major
growth drivers .
TOP GAINERS:UPL,BAJAJFINANCE,SBIN
MAJORLOOSERS: COALINDIA,LUPIN,RELIANCE
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