Nifty ends above 10,300; SBI up 6% post Q2; GST council cuts rates


The benchmark indices ended positive on Friday after index heavyweight SBI rallied 6% post its September quarter numbers. Gains were, however, capped as refiners such as Reliance Industries tumbled after oil prices gained overnight and Tata Motors slipped after the auto major said its British unit faced intensifying competition.

Investors also took cues from the Goods & Services Tax (GST) Council meeting. The Council decided to trim the 28% slab to just 50 items, as against 227 items currently. High-end items, including automobiles, washing machine, refrigerator, sin goods like paan masala and cigar are among these 50 items. This is the biggest reduction seen since the GST implementation on July 1.

The S&P BSE Sensex ended at 33,314, up 63 points, while the broader Nifty50 was ruling at 10,321, up 12 points.

About 1,480 shares declined against 1,197 advancing shares on the BSE.

State Bank of India’s second quarter standalone profit missed analyst expectations, falling 37 percent year-on-year to Rs 1,581.55 crore from Rs 2,538.32 crore crore.¬†Net interest income grew by 27.3 percent to Rs 18,585.9 crore from Rs 14,600.2 crore YoY, which was slightly higher than CNBC-TV18 poll estimates of Rs 19,088.7 crore.¬†Gross NPAs were lower at 9.83 percent against 9.97 percent QoQ.

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Nifty ends flat on Friday, up 1.5% for the week; RIL, Lupin top gainers


Benchmark indices settled the day flat tracking weaker global cues amid concerns that central banks are moving closer to removing the monetary stimulus. The intra-day losses were recouped after index heavyweight Reliance Industries rallied to hit 9-year high. Losses were also capped as pharma and realty indices surged through the day on value buying.

Nifty was up 1.5% for the week, snapping a three-week losing streak, its biggest weekly gain since late May. On the other hand, BSE Sensex was up 1.4% for the week, extending gains for the second consecutive week.

The S&P BSE Sensex ended at 31,360, down 9 points after while the broader Nifty50 was ruling at 9,666, down 9 points

In the broader market, the S&P BSE Midcap was a little changed but ended in red while S&P BSE Smallcap index gained 0.3%.

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Sensex ends the week below 27000, Nifty slips below 8,250; IT stocks drag on H1B woes


Equity benchmarks closed lower on Friday, with the Sensex falling more than 100 points amid consolidation as investors remained cautious ahead of quarterly earnings that will start next week with Infosys & TCS. Profit booking, further correction in technology stocks and weak European cues drove the market lower while buying in banking & financials stocks capped downside.

The 30-share BSE Sensex slipped 119.01 points to 26759.23 after hitting an intraday high of 27009.61. The 50-share NSE Nifty fell to hold on to 8300 level, down 30 points at 8243.80.

The broader markets, too, were under pressure with the BSE Midcap down 0.3 percent as about 1532 shares declined against 1185 advancing shares.

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