Sensex ends 155 pts lower; SBI down 4% post Q1 results


Benchmark indices ended lower on Friday, after touching record highs for four straight sessions, following global market trends. Metals, pharma and PSU banks were the top draggers during the day.

The S&P BSE Sensex ended the day at 37,869 down 155 while the Nifty50 index settled at 11,429 down 41 points

SBI slipped 4% after it reported a bigger-than-expected quarterly loss on Friday, as the country’s biggest lender by assets made higher provisions for treasury losses. SBI’s third consecutive quarterly net loss came in at Rs 48.76 billion ($707.28 million) for the three months to June 30, compared with a profit of Rs 20.06 billion a year ago, and a record loss of Rs 77.18 billion in the March quarter. Gross NPA stood at 10.69% vs 10.91% QoQ while provisions were at Rs 192.28 billion vs Rs 280.96 billion QoQ

Shares of Jet Airways hit a three-year low of Rs 262, down 10% on the BSE on Friday in early morning trade after the company deferred announcing their June quarter numbers to an unspecified date. On the National Stock Exchange (NSE), the stock hit a low of Rs 258, and is trading at its lowest level since June 16, 2015

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Sensex ends flat but up 2% for the week, Nifty settles below 10,350


The Nifty50 index pared gains to end in negative after hitting record highs earlier in the session, as Yes Bank slumped nearly 10% on concerns over bad loans. The Sensex ended flat but at new closing high for the day.

The NSE Nifty and BSE Sensex were gained more than 1.5% each for the week after the cabinet’s decision to inject $32.4 billion into state-run lenders over the next two years boosted sentiment.

Reliance Industries, oil marketing companies, metals, Bharti Group, select banks and technology stocks saw selling pressure whereas NBFCs, Tata Group stocks, ICICI Bank and ITC supported the market.

State-run oil marketing major, Indian Oil, reported a fall of 18.7% in its net profit for September quarter at Rs 3,696 crore against Rs 4,548 crore during the previous quarter. The revenue came in 13.7% lower at Rs 1.1 lakh crore against Rs 1.28 lakh crore quarter on quarter.

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Markets keep winning streak intact; ITC, RIL lead


Benchmark indices ended higher, amid choppy trades, after weak US data dimmed prospects of an interest rate increase by the Federal Reserve next week.

Besides, India’s trade deficit declined sharply to 38.1% to $7.67 billion in August 2016 from $12.39 billion in August 2015. Exports fell 0.3% to $21.52 billion in August 2016 over August 2015. Imports fell 14.09% to $29.19 billion in August 2016 over August 2015.
The S&P BSE Sensex rose 186 points to end at 28,599 and the Nifty50 gained 37 points at 8,780. In the broader markets, BSE Midcap index slipped 0.3% whereas the BSE Smallcap index inched up by 0.2%.

Among key stocks, Power Grid, ITC, Maruti Suzuki, Reliance Industries and Adani Ports surged between 1.5%-2.5%.

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