Market wrap: Sensex, Nifty end higher, Bandhan Bank shares rise, Maruti falls
The BSE Sensex and NSE Nifty 50 closed higher on Friday on positive global cues. Here are the main highlights from the markets today
Last Modified: Fri, Apr 27 2018. 07 21 PM IST
- 5.35 pm ISTClosing bell: Sensex ends below 35,000
- 2.45 pm ISTMarket update: Sensex trades below 35,000
- 2.36 pm ISTMaruti Suzuki India shares fall despite 10% rise in net profit
- 2.05 pm ISTRupee trades flat against US dollar
- 1.25 pm ISTMarket update: Sensex crosses 35,000 mark, Nifty tops 10,700
- 1.03 pm ISTBandhan Bank shares rise 4%
- 12.42 pm ISTShriram Asset Management shares fall by nearly 5%
- 12.33 pm ISTMarket update: Sensex rises over 230 points
- 11.30 am ISTMarket update: Sensex, Nifty pare early gains
- 11.22 am ISTNifty PSU bank index climbs over 5%
- 10.30 am ISTMarket update: Sensex, Nifty trade higher
- 10.06 am ISTRealty, Energy indices rise nearly 8%, IT, Teck indices fall
- 9.57 am ISTBanks stocks gain: ICICI advances nearly 3.5%, SBI 4%
- 9.52 am ISTBrent crude shed 22 cents to $73.66 per barrel
- 9.48 am ISTAsian stocks follow Wall Street higher after strong results
- 9.42 am ISTMarket update: Sensex, Nifty trade higher
- 9.38 am ISTAxis Bank shares rise 4%
- 9.34 am ISTYes Banks shares gain nearly 5%
- 9.29 pm ISTReliance Industries shares rise over 2% ahead of Q4 results
- 9.23 am ISTMaruti Suzuki India shares rise 1% ahead of Q4 results
- 9.18 am ISTRupee opens flat against US dollar
- Mumbai: The benchmark Sensex spurted by over 200 points for the second straight day today on across-the-board buying by participants as Asian markets cheered a historic summit between North and South Korea. The 30-share Sensex rallied over 256 points to end at a near 3-month high of 34,969.70, while the broader Nifty advanced 74.50 points to 10,692.30 as the May derivatives series got off to a strong start. The key indices gained for the fifth week in a row—their longest winning streak in a year. The Sensex surged 554.12 points, or 1.61%, while the Nifty gained 128.25 points, or 1.21%, during this week. Here are the main highlights from the markets today:
- 2.36 pm IST Maruti Suzuki India shares fall despite 10% rise in net profitIndia’s top selling car maker Maruti Suzuki India Ltd posted a 10% rise in net profit for the fourth quarter on Friday, buoyed by strong sales volume growth. Profit for the January-March quarter rose to Rs1,882 crore from Rs1,711 crore a year earlier. Maruti Suzuki India shares were trading 1.99% down at Rs8,769.35 in the afternoon on BSE.
- 2.05 pm IST Rupee trades flat against US dollarThe Indian rupee on Friday was trading little changed against US dollar as traders avoided taking long positions ahead of the long weekend. Money markets are closed on 30 April and 1 May due to Budha Jayanti and Maharashtra Day respectively. At 2pm, the home currency was trading at 66.78 against US dollar, down 0.04% from its Thursday’s close of 66.76. The rupee opened at 66.81 and touched a low of 66.84 a dollar.Yields on 10-year government bond stood at 7.761% from its previous close of 7.756%. Bond yields and prices move in opposite directions.
- 1.03 pm IST Bandhan Bank shares rise 4%At 1pm, Bandhan Bank shares were trading at Rs514.10 on BSE, up 4% from its previous close after the bank reported a 20.3% jump in its March quarter net profit due to higher net interest income and other income. Net profit for the quarter stood at Rs387.86 crore against Rs322.41 crore a year ago. Read more
- 12.42 pm IST Shriram Asset Management shares fall by nearly 5%Shriram Asset Management Co. Ltd losses widen in March quarter results. The company posted losses of Rs64 lakh in March against Rs47 lakh a year ago. Shriram Asset Management Co.’s shares were trading lower by 4.92% at Rs 83.05 on the BSE. (Reuters)
- 9.57 am IST Banks stocks gain: ICICI advances nearly 3.5%, SBI 4%After falling 3% in opening trade, Axis Bank rebounded and surged nearly 5% as it said asset quality is expected to normalize in 2018-19. The bank reported its first ever loss since listing to Rs2,189 crore in March quarter as it made higher provisions for its bad loans. Other banks gains too. ICICI Bank Ltd advanced 3.4%, State Bank of India added 4%, Yes Bank 1%, Punjab National Bank 1.4%.
- 9.52 am IST Brent crude shed 22 cents to $73.66 per barrel Benchmark US crude fell 22 cents to $67.87 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 14 cents on Thursday to close at $68.19. Brent crude, used to price international oils, shed 22 cents to $73.66 per barrel in London. It jumped 65 cents the previous session to $73.88. (AP)
- 9.48 am IST Asian stocks follow Wall Street higher after strong resultsAsian stock markets followed Wall Street higher on Friday after reports of strong U.S. earnings, as investors watched the inter-Korean summit. The Shanghai Composite Index sank 0.7% to 3,052.32, but Tokyo’s Nikkei 225 rose 0.5% to 22,441.28. Hong Kong’s Hang Seng advanced 0.1% to 30,042.83 and Seoul’s Kospi added 0.5% to 2,486.82. Sydney’s S&P-ASX 200 climbed 0.3% to 5,930.50. Benchmarks in New Zealand, Taiwan and Southeast Asia also rose. (AP)
- 9.38 am IST Axis Bank shares rise 4%Axis Bank rose 4% to Rs512.75. The bank posted a shock loss of Rs2,189 crore in the January-March quarter, its first quarterly loss ever, as the private sector lender made heavy provisions against bad loans. The bank, though, said asset quality is expected to normalize in 2018-19.
- 9.34 am IST Yes Banks shares gain nearly 5%Yes Bank extended its gains, with gaining nearly 4.6% to Rs365 after better then expected earnings. The bank reported a 29% jump in its March quarter net profit due to higher net interest income and other income. Net profit for the quarter stood at Rs1,179.44 crore against Rs914.12 crore a year ago. According to 21 Bloomberg analysts’ estimates, the bank was expected to post a profit of Rs1,085.40 crore.
- 9.18 am IST Rupee opens flat against US dollarThe Indian rupee on Friday opened weaker, but soon pared its losses and traded little changed against US dollar as traders avoided taking long positions ahead of the long weekend. Money markets are closed on 30 April and 1 May due to Budha Jayanti and Maharashtra Day respectively. The rupee opened at 66.81 and touched a low of 66.84 a dollar. At 9.15am, the home currency was trading at 66.78 against US dollar, down 0.04% from its Thursday’s close of 66.76.Yields on 10-year government bond stood at 7.744% from its previous close of 7.756%. Bond yields and prices move in opposite directions.
First Published: Fri, Apr 27 2018. 09 57 AM IST
- Banks turned wary of NBFCs months before IL&FS defaults
- HUL Q2: Rising input costs face off against healthy demand growth
- Q2 results: DMart finally set to face a reality check
- Temporary staffing: Decent employee additions, margin pressures may sustain
- Gujarat relief for Tata Power, Adani Power underlines sector’s harsh reality