The stock of food delivery platform Zomato fell 12.61 percent today and the shares traded at Rs. closed at 41.60. The stock is under pressure after the lock-in period is over.
Today, for the second day in a row, the market was dominated by selling and the stock market(Share Market) was closed with a reduction. Sensex closed down 497 points at 55268 and Nifty closed down 147 points at 16483. Today, nine stocks in the top-30 Sensex closed higher and 21 stocks declined. Shares of Bajaj Financial Services, PowerGrid, Bharti Airtel and Bajaj Finance rose. Shares of Infosys, Hindustan Unilever, Axis Bank and Dr. Reddy fell. After today’s decline, the market cap of BSE listed companies fell to Rs. 257.34 lakh crore has come up. Today’s decline has reduced investor wealth by Rs 2.8 lakh crore.
Latest stock market status |
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| SENSEX | 55,268.49 −497.73 (0.89%) |
| NIFTY | 16,483.85 −147.15 (0.88%) |
Prashant Taapsi, research analyst at Mehta Equities, said that there was a sell-off in the market today ahead of the Federal Reserve meeting. It is believed that the US Federal Reserve will raise interest rates by 75 basis points. 16500 level was crucial for Nifty which it has breached. Now the next support for Nifty is at 16250 level.
Asian Paints profits jump by over 80 percent
Asian Paints has announced its results for the June quarter. The company’s consolidated net profit jumped by 80.39 percent to Rs. 1036 crore has been done. The company’s net profit for the June 2021 quarter was Rs 574 crore. The operating income of the company rose by 55 percent to Rs. 8578 crores. The company’s operating income in the June 2021 quarter was Rs 5534 crore. The company’s total expenses rose by 48.91 percent to Rs 7,288 crore.
Nifty 50 Top Gainers
| Company Name | High | Low | Last Price | Prev Close | Change | % Gain |
| Bajaj Finserv | 13,548.85 | 12,790.00 | 13,313.00 | 12,619.55 | 693.45 | 5.5 |
| JSW Steel | 599.65 | 581.6 | 597.75 | 585.5 | 12.25 | 2.09 |
| Grasim | 1,517.45 | 1,485.10 | 1,514.85 | 1,498.50 | 16.35 | 1.09 |
| Bharti Airtel | 685.35 | 670.25 | 684.1 | 678.4 | 5.7 | 0.84 |
| Coal India | 203.3 | 199.55 | 202.3 | 200.9 | 1.4 | 0.7 |
Zomato’s stock fell nearly 12 percent
Food delivery platform Zomato’s stock fell 12.61 percent today to Rs. closed at 41.60. The stock is under pressure after the lock-in period is over. However, brokerage firm Jefferies has set a strong target for the stock. According to him this stock will go to 100 level. This is more than 125 percent from the current level.
These stocks recorded the biggest losses
| Company | Prev Close (Rs) | Current Price (Rs) | % Change |
| Select Platforms | 913.7 | 731 | -20 |
| Pritika Auto Ind. | 15.5 | 12.63 | -18.52 |
| Niyogin Fintech | 37 | 31.55 | -14.73 |
| Zomato | 47.55 | 41.65 | -12.41 |
| Anjani Finance Ltd. | 4.99 | 4.4 | -11.82 |
| Ramco Systems Lt | 310.35 | 276.45 | -10.92 |
| Olympia Inds. | 53.2 | 47.9 | -9.96 |
| Tirupati Series | 7.97 | 7.18 | -9.91 |
| Bombay Wire Rope | 46.4 | 41.8 | -9.91 |
| Duke Offshore Lt | 9.15 | 8.26 | -9.73 |
Bajaj Auto’s profit down
Bajaj Auto has announced the results for the June quarter. The consolidated net profit of the company has declined to Rs. 1163 crore has been. The company’s net profit for the June 2021 quarter was 1170 crores. The company’s operating income stood at Rs 8,005 crore, up from Rs 7,386 crore in the same quarter a year ago. The units sold declined by 7 percent and the company’s total sales stood at 933,646 units as against 1,006,014 units in the same quarter a year ago.
