Indices were highly volatile in the afternoon deals on Friday.
The benchmark S&P BSE Sensex was trading at 40,075 level. IndusInd Bank was the top performer on the index, up 4 per cent, while YES Bank was trading over 6 per cent lower ahead of its Q2 results. On NSE, the Nifty50 was trading at 11,850-mark.
Sectorally, Nifty Auto and IT indices were trading in the red. NIfty ITl index was the top loser, down 0.35 per cent. On the upside, Nifty PSU Bank, and Realty indices were trading over 1 per cent higher.
In the broader market, both S&P BSE mid and small-cap indices were trading 0.3 per cent higher.
Bank of India, Dr Reddy’s Lab, JK Lakshmi Cement, and YES Bank are among the 33 companies scheduled to report their Q2 earnings on Friday.
Analysts expect Yes Bank to report a loss up to Rs 1,907.3 crore due to exposure to bankrupt companies like DHFL, McLeod Russel, and Cox & Kings. However, all eyes would be on the Board’s decision with regards to the receipt of a binding offer worth $1.2 billion by a global investor.
Continue Reading →
Benchmark indices ended little changed on Friday; however banking stocks had a field day with the State Bank of India (SBI) jumping over 7 per cent (Rs 282) on 3-fold jump in its net profit at Rs 3,012 crore for the September quarter.
YES Bank, too, rallied around 8 per cent to Rs 52 apiece on the BSE.
The S&P BSE Sensex added 38 points or 0.10 per cent to end the Samvat 2075 at 39,058 levels. The NSE’s Nifty50 index ended at 11,584, up just 1 point or 0.01 per cent.
In the broader market, the S&P BSE MidCap index ended at 14,342, up around 3 points or 0.02 per cent while the S&P BSE SmallCap index lost 51 points or 0.39 per cent to close at 13,153.
Among other buzzing stocks, ICICI Bank hit a new high of Rs 470.70 apiece on the BSE during the session with the market capitalisation (m-cap) surpassing Rs 3 trillion-mark.
On the other hand, Piramal Enterprises tanked 17 in the afternoon deals on the BSE after the company announced capital-raising plan. The stock eventually settled at Rs 1,590 apiece, down around 8 per cent.
Volatiity index India VIX slipped around 6 per cent to 15.30 levels.
Among the sectoral indices on the NSE, PSU bank stocks advanced the most, followed by IT counters. The Nifty PSU Bank index gained 3.38 per cent to end at 2,300 levels. Nifty Bank rallied 1 per cent to 29,396-mark.
Continue Reading →
