Market Outlook for the day – Lack of participation from the mid and small cap space even when the markets are trading at all-time highest levels still remains a concern.
YES Bank reported a Q1 net profit of Rs 440 crore as compared to Rs 400 crore in the year-ago period, an uptick of 10%. The bank's net interest margin was unchanged at 3% sequentially.
Cairn India has announced an investment of $3 billion towards the company's three-year capex programme.
Results on July 24,2014: ACC, Ambuja Cements, Biocon, Dewan Housing, Glenmark Pharma, Jindal Saw, KSB Pumps, M&M Finance, Pfizer, TVS Motors, Wipro.
On the back of consistent FII inflows, firm Asian and European stocks after better-than-expected inflation and housing reports in the US; the domestic markets have surged and touched a new all-time high. This upmove was majorly contributed by the large-cap IT counters, which gained on positive economic data in US. PSU OMCs edged higher as crude oil prices declined on Tuesday, 22 July 2014. The market breadth indicating the overall health of the market was negative. On BSE, 1,639 shares fell and 1,330 shares rose. A total of 90 shares were unchanged. The BSE Mid-Cap index was up 0.01%. The BSE Small-Cap index was down by 0.63%. Both these indices underperformed the Sensex.