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PremiumMUMBAI :Mumbai: Benchmark indices extended their record gains for a third session on Friday helped by rallying banking stocks. BSE Sensex hit an intraday all-time high of 35542 before closing at 35,511.58, up 251.29 points. NSE Nifty crossed 10,900 for the first time and touched a fresh record of 10,906.85 before settling at 10,894.70, up 77.70 points. Shares were boosted by an extended rally in banking stocks with Nifty PSU Bank index ended 2.18% up, Nifty Bank 1.40% and Nifty Pvt Bank 1.31%. All the sectoral indices on BSE ended higher. Adani Ports, Yes Bank and ICICI Bank were top gainers, whereas shares of Infosys, Sun Pharma and Power Grid were major losers. Here are the latest updates from the markets:
BSE Sensex closed higher by 251.29 points, or 0.71%, to 35,511.58, while the Nifty 50 rose 77.70 points, or 0.72%, to close at 10,894.70.
BSE Sensex traded higher by 266.71 points, or 0.76%, to 35,527, while the Nifty 50 rose 84.85 points, or 0.78%, to 10,901.85
IDFC Bank Ltd reported a 23.6% decline in its fiscal-third quarter profit due to fall in net interest income, other income and higher other operating expenses. Net profit fell to Rs146.11 crore for the quarter ended 31 December from Rs191.26 crore a year ago. Shares traded 0.09% up at Rs58.25.
BSE Sensex traded higher by 91.98 points, or 0.26%, to 35,352.27, while the Nifty 50 rose 19.50 points, or 0.18%, to 10,836.50.
The rupee was trading at 63.71 a dollar, up 0.22% from its Thursday’s close of 63.86. The 10-year bond yield was at 7.264%, compared to its previous close of 7.262%.
Europe’s main stock markets flattened in opening deals, with London’s benchmark FTSE 100 index virtually unchanged at 7,704.19 points. In the eurozone, the Paris CAC 40 index flatlined at 5,493.99 points and Frankfurt’s DAX 30 edged up 0.1% to 13,297.74 compared with Thursday’s closing levels. (AFP)
ITC shares traded 0.35% up at Rs273.80 after the company said its profit rose to Rs3,090 crore in the third quarter ended 31 December as against Rs2,647 crore a year ago.
ITC Q3 profit rises 17% to Rs3,090 crore, beats estimates https://t.co/frWWVGBn0d
— Livemint (@livemint) January 19, 2018
Kotak Mahindra Bank Ltd’s net profit rose to Rs1,053 crore in the quarter ended 31 December 2017, from Rs880 crore a year ago. Shares rose 0.51% to Rs1050.70.
Strides Shasun Ltd said the company has completed the acquisition of controlling stake in Trinity Pharma of South Africa. Shares traded 0.41% lower to Rs796.05.
Manappuram Finance Ltd shares jumped 3.24% to Rs119.40 after the company disclosed that its board will discuss investment proposals.
Dilip Buildcon Ltd said it has received an order from Ircon International Ltd for an EPC road project in Karnataka. Shares traded 1.29% up at Rs949.
BSE Sensex traded higher by 106.27 points, or 0.30%, to 35,366.56, while the Nifty 50 rose 23.35 points, or 0.22%, to 10,840.35.
HDFC Bank Ltd reported a net profit of Rs4,643 crore in the third quarter versus a profit of Rs3,865 crore a year ago. The bank’s gross NPA stood at 1.29% in the December quarter versus 1.26% in the previous quarter. Shares traded 0.67% higher to Rs1944.85.
Cadila Healthcare Ltd said the USFDA has inspected the company’s API manufacturing facility at Dabhasa from 15-19 January, and has not issued any observation. Shares gained 2.53% to Rs447.15.
PC Jeweller Ltd said its December quarter profit rose to Rs163 crore versus Rs107 crore a year ago. The company’s third-quarter revenue from operations increased to Rs2,645 crore versus Rs2,107 crore last year. Shares traded 0.29% lower to Rs579.39.
Cyient Ltd shares rose as much as 7.09% to Rs622.15 after the company’s third-quarter consolidated revenue rose 7.2% to Rs983 crore. The company said its December quarter consolidated net profit fell 6.8% to Rs87.8 crore.
Biocon Ltd rose 3.7% to Rs559.50 after the company said it signed a deal to develop copycat versions of biologic drugs with a unit of Novartis AG, its latest move to become a global player in the next generation of generic medicines after a similar partnership with Mylan NV delivered a recent success.
Tejas Network Ltd fell 4% to Rs414.85 after the company said its revenue for the December quarter fell 20.4% from a year ago to Rs229.87 crore.
Jain Irrigation Systems Ltd rose 4% to Rs137.80 after the company said it goods and services tax on drip irrigation systems has been reduced to 12% from 18% and the company has decided to pass on this benefit of 6% directly to the farmers.
Wonderla Holidays Ltd rose 5.5% to Rs411.35 after the government cut good and services tax on amusement parks.
BSE Sensex traded higher by 153.92 points, or 0.44%, to 35,414.21, while the Nifty 50 rose 37.60 points, or 0.35%, to 10,854.60.
Wipro Ltd fell 0.8% to Rs 323.35 ahead of its December quarter earnings due later on Friday. According to 19 Bloomberg analyst estimates, the company may post net profit of Rs2144.40 crore while 23 brokers expects that revenue will be at Rs13684.30 crore.
HDFC Bank Ltd rose 0.3% to Rs1937.50 ahead of its December quarter earnings due later on Friday. According to 17 Bloomberg analysts estimates, the company may post net profit of Rs4,706.90 crore.
Kotak Mahindra Bank Ltd rose 0.6% to Rs1,052 ahead of its December quarter earnings due later on Friday. According to 9 Bloomberg analysts estimates, the company may post net profit of Rs963.80 crore.
Yes Bank rose 2.1% to Rs347.35 after the bank reported a net profit of Rs1,076.87 crore for the quarter ended 31 December, up 22% from Rs882.63 crore a year ago.
Reliance Industries Ltd rose 0.7% to Rs925.45 ahead of its December quarter earnings due later on Friday. According to 9 Bloomberg analyst estimates, the company may post net profit of Rs 8496.50 crore while 6 brokers expects that revenue will be at Rs1.03 trillion.
Adani Ports and Special Economic Zone Ltd rose 2% to Rs421.85 after the company reported a 19.5% rise in fiscal-third quarter profit. Consolidated net profit rose to Rs1,001 crore in the three months ended 31 December from Rs837.58 crore in the previous year. Income from operations increased by 22% to Rs2,689 crore from Rs2,209 crore in the year-ago period. The firm reported a strong revival of its cargo volumes.
The Indian rupee strengthened against US dollar, tracking gains in the local equity and Asian currencies market. The rupee was trading at 63.66 a dollar, up 0.31% from its Thursday’s close of 63.86. The rupee opened at 63.74 a dollar and touched a high and a low of 63.65 and 63.74, respectively. Bond yield fell ahead of weekly debt auction of Rs15,000 crore due later on Friday. The 10-year bond yield was at 7.255%, compared to its previous close of 7.262%.
BSE Sensex traded higher by 63.11 points, or 0.18%, to 35,323.40, while the Nifty 50 edged down 4.90 points, or 0.05%, to 10,812.10.
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