Sensex ends at fresh closing high, up 251 pts, Nifty settles near 10,900


Benchmark indices ended at fresh closing highs for a third straight session on Friday, led by financial stocks amid improved investor sentiment after the government decided to cut tax rates on certain products and services.

The S&P BSE Sensex ended at 35,511, up 251 points while the broader Nifty50 index settled at 10,894, up 77 points.

ICICI Prudential Life said profit in Q3 grew by 0.5 percent to Rs 452.1 crore against Rs 450 crore reported in year-ago. Net premium income jumped 19.3 percent to Rs 6,795 crore from Rs 5,697 crore YoY.

PC Jeweller today reported 52 percent increase in its net profit at Rs 162.71 crore for the quarter ended December on higher sales and profit margins. The company, which has 84 retail jewelry stores across the country, had posted a net profit of Rs 106.97 crore in the year-ago period, the company said in a regulatory filing.

Private sector lender IDFC Bank said its profit for the quarter ended December 2017 declined 23.6 percent to Rs 146.1 crore, compared to Rs 191.3 crore in year-ago. Profitability was hit by lower net interest income, other income and operating income; but was largely supported lower provisions. Net interest income, the difference between interest earned and interest expended, fell 5 percent to Rs 495 crore compared to Rs 521 crore in year-ago. Asset quality worsened during the quarter. Gross non-performing assets (NPAs) as a percentage of gross advances were sharply higher at 5.62 percent against 3.92 percent in previous quarter and net NPA was also higher at 3.52 percent in Q3 against 1.61 percent in Q2FY18.

Kirloskar Oil Engines shares gained 3 percent after profit in Q3 increased 40.5 percent to Rs 39.5 crore from Rs 28.1 crore YoY. Revenue from operations rose 6.8 percent to Rs 684.6 crore while operating profit grew by 10.7 percent to Rs 64.1 crore and margin expanded 40 basis points to 9.4 percent.

Continue Reading


Sensex ends Friday nearly 450 pts lower, Nifty breaches 10,000; midcaps tank


Equity benchmark indices witnessed a carnage on Friday, with the Sensex ending nearly 450 points lower, while the Nifty breached 10,000-mark, falling over 150 points.

The benchmark indices fell over 1%, extending losses for the fourth straight session, while the rupee hit its weakest point since early April amid concerns that the government’s plan for a stimulus to halt an economic slowdown may have a negative impact on the fiscal deficit.

Global investor sentiment was also subdued after North Korea said it might test a hydrogen bomb in the Pacific Ocean and escalated a war of words with US President Donald Trump.

The Sensex closed down 447.60 points at 31922.44, while the Nifty ended lower by 157.50 points at 9964.40. The market breadth was negative as 524 shares advanced against a decline of 2,082 shares, while 144 shares were unchanged.

Continue Reading


Nifty ends the week below 8,350 on poor Q3 results


Benchmark indices continued trading under pressure as investors remained cautious ahead of inauguration speech of Donald Trump as US President and after disappointing Axis Bank’s earnings.

Nifty 50 breached its 8,400 level dragged by Axis Bank, Bank of Baroda, Adani Ports and ACC while BSE Sensex fell as much as 296 points at intra-day.

S&P BSE Sensex settled the day at 27,034, down 274 points, while the broader Nifty50 ended at 8,349, down 85 points.

Among broader markets, BSE Midcap index fell 1.5% while BSE Smallcap index fell 0.1.2%.

Continue Reading


Demonetisation, Trump’s election lead to chaotic swings in the sensex


Benchmark indices slumped by almost 3% tracking weak global cues after US bond yields soared on expectations US President-elect Donald Trump’s policies would stoke inflation. Further, demonetisation move by the government dampened investor sentiment especially with fast moving consumer goods and consumer discretionary sectors to have an impact in the short term. In an effort to curb black money and counterfeiting the government in a surprising move announced the demonetisation of Rs 500 and 1,000 currency notes with effect from midnight Tuesday.

Continue Reading


Brexit spooks the markets globally!


The Sensex recouped 500 points loss in the last couple of hours of trade, especially after recovery in Europe but still ended sharply lower after the UK voted to leave European Union.

The index fell 604.51 points or 2.24 percent to 26397.71 and the Nifty slipped 181.85 points or 2.20 percent to 8088.60.

About 1823 shares declined against 709 advancing shares on BSE.

Tata Motors cracked 8 percent and Tata Steel fell 6 percent as both companies have huge exposure to Europe.

European markets were down 5-8 percent.

Here are some picks from the week gone by.

Continue Reading