Markets@10: Volatile trading as gains turn to losses

Today, the market moved in the opposite direction to Monday. It started strong, with profits, but soon turned to losses and then fluctuated throughout the day.

Midcap and smallcap stocks saw gains in the morning.

Britannia shares dropped 2.5% after reporting disappointing results for the second quarter. Nestlé shares also fell.

On the other hand, Jubilant FoodWorks saw a rise of 7% after strong results.

UPL, which had fallen sharply yesterday due to its results, gained 5% today after management explained their future earnings outlook.

Triveni Turbine shares surged 10% after announcing a 42% rise in net profit.

Shares of Shree Cement dropped 3% in the morning, following a massive 81% fall in net profit. However, the losses reduced later in the day. Meanwhile, Ramco Cement shares went up by 4%.

Federal Bank’s shares hit a record low of Rs 209.20.

Shares of HG Infra fell 8% in the morning after reporting a significant drop in revenue and profit for the second quarter.

The Indian Rupee started the day with small gains. The dollar opened slightly lower at Rs 84.38, and later it was at Rs 84.40.

Gold update

In global markets, gold prices dropped to $2,617. In Kerala, the price of jewellery gold fell by Rs 1,080, bringing it down to Rs 56,680.

Crude oil prices continued to fall. Brent crude dropped to $71.66.