Indian Equities end in red weighed by weak Q1 earnings - ICICI Bank : Treasury Research

Indian equities ended the session in the red, weighed by weak Q1 earnings results detailed by some key companies. Index heavyweight Hindustan Unilever's (HUL) sales volume disappointed markets. On the other hand, while Punjab National Bank's net profit met analyst estimates, worsening of its asset quality spurred losses in its shares. Meanwhile, index major Wipro detailed its Q1 earnings post market hours, which came in line with expectations. In other news, government sources reported that the 3.56% stake sale in Neyveli Lignite might take place in first week of August. Today's primary laggards were bank and metal stocks. The Sensex closed at 19748.19 (-0.29%) while Nifty ended at 5886.20 (-0.36%).

The BSE Bankex ended lower at 11,950.47 (-1.43%). SBI ended lower at INR 1764.80 (-1.93%) while ICICI Bank ended down at INR 932.35 (-0.32%).

Asian shares ended in mixed territory. Nikkei led the region's losses, closing lower by 2.97% as strength in the Yen weighed on exporters' stocks. Shanghai Composite extended morning session's losses to end down by 0.51% after the nation instructed several companies to cut excess production capacity. Hang Seng, however, closed higher by 0.31% aided by telecom stocks while Australia's ASX ended up by 0.13% on the back of gains in financials. Kospi ended the session marginally higher by 0.06%.

Source : Equity Bulls

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