Asian Shares Extended Their Losses On Monday As A Sharp Escalation

Asian shares extended their losses on Monday as a sharp escalation in the Sino-US trade war kept finiancial markets on edge, while the Japanese yen and bonds held near recent peaks as nervous investors stuck with perceived safe havens.

Trends on SGX Nifty indicate a negative opening for the broader indices in India, a fall of 62.50 points or 0.57 percent. Nifty futures were trading around 10,952.50-level on the Singaporean Exchange.

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Shares Of Raymond Declined 3 Percent On August 2 After Company Reported Net Loss

Shares of Raymond declined 3 percent on August 2 after company reported net loss at Rs 14.85 crore in Q1FY20 versus profit of Rs 0.02 crore in Q1FY19. Revenue of the company rose to Rs 1,435.12 crore versus Rs 1,250.66 crore, YoY.

The company will be doing a buyback of upto USD 50 million of the USD 350 million 6.375 percent notes issued by the company under the updated USD 1,500 million secured Euro medium term note programme. The buyback will be done upon receipt of necessary regulatory approvals.

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Share Price Of Ashok Leyland Touched 52-Week Low Of Rs 63.90, Down 8.7 Percent

Share price of Ashok Leyland touched 52-week low of Rs 63.90, down 8.7 percent on August 2 after company reported weak sales numbers for July 2019.

The company's total sales declined 28% at 10,927 units against 15,199 units, while its M&HCV sales were down 39 percent at 6,722 units against 10,996 units, YoY.

Shares of Eicher Motors slipped more than 2 percent in the early trade on August 2 after company reported weak sales numbers for July 2019.

The company has reported 22 percent fall in its Royal Enfield July sales to 54,185 units versus 69,063 units in the same month last year.

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The Sensex Is Down 191.90 Points Or 0.52% At 36826.42, And The Nifty Down 55.60 Points

The Sensex is down 191.90 points or 0.52% at 36826.42, and the Nifty down 55.60 points or 0.51% at 10924.40. About 170 shares have advanced, 512 shares declined, and 25 shares are unchanged.

Ashok Leyland, JSW Steel, Tata Steel, JSPL, Vodafone Idea, HDFL, Vedanta, Hindalco, Bhandhan Bank, Godrej Consumer, Apollo Tyres, Hero Moto, Eicher Motors, Tata Motors, IndusInd Bank, ICICI Bank are among major losers on the indices, while gainers are Bharti Airtel, IOC, HPCL, BPCL and Infosys.

All the sectoral indices are trading in the red led by the metal, auto, infra, FMCG, energy and pharma.

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Maruti Suzuki India, Country's Largest Passenger Vehicle Maker

Maruti Suzuki India, country's largest passenger vehicle maker, disappointed analyst on August 1 by reporting sharp fall in July sales due to continued slowdown in auto sector.

Company sold 1.09 lakh units in July 2019, the lowest in last two-year, declined by 33.5 percent compared to 1.64 lakh units sold in previous year.

Numbers were lower than Nomura expectation of 1.17 lakh units for the month.

Maruti said domestic sales in July 2019 were down 35.1 percent at 1 lakh units and passenger car sales fell 36.2 percent to 71,486 units compared to July 2018.

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Two And Three Wheeler Maker Bajaj Auto Has Reported A 5 Percent

Two-and-three-wheeler maker Bajaj Auto has reported a 5 percent year-on-year degrowth in July sales on account of continued subdued domestic demand.

The company sold 3.81 lakh units in July 2019, declined from 4 lakh units sold in same period last year.

Domestic sales fell 13 percent year-on-year to 2.05 lakh units, but exports increased 8 percent to 1.76 lakh units in July 2019, company said in its BSE filing.

"We don't see any greenshoots in demand yet. Domestic 2-wheeler volumes might continue to decline in August," Rajiv Bajaj, Managing Director said in an interview to CNBC-TV18.

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Asian Shares Fell To Six Week Lows On Thursday And The Dollar Rose

Asian shares fell to six-week lows on Thursday and the dollar rose after the US Federal Reserve delivered a 25-basis-point rate cut as expected but poured cold water on market expectations of a lengthy easing cycle.

The Dow and S&P 500 registered their biggest daily percentage drops in two months on Wednesday after Federal Reserve Chair Jerome Powell dampened expectations for further cuts following the central bank's first interest rate cut in a decade.

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