HDFC Bank and RIL shares hit new highs of  ₹2,358.75 and  ₹1,413.75 respectively.
HDFC Bank and RIL shares hit new highs of 2,358.75 and 1,413.75 respectively.

Sensex, Nifty edge lower, ICICI Bank, IT stocks weigh

  • HUL, TCS, Axis Bank, HCL Tech, Infosys, IndusInd Bank and Tata Motors among top losers
  • HDFC Bank and RIL today hit new highs

Indian markets edged lower today, dragged down by select banks and IT stocks, as investors awaited fresh triggers. The Sensex fell 50 points to 38,981 while the broader NSE Nifty settled at 11,724, down 0.20%. The markets were shut on Wednesday on account of a public holiday.

"Negative sentiment from global markets and ongoing election is keeping markets cautious. Inflow from institutional investors has also slowed down, which is leading to this kind of subdued market," said Siddhartha Khemka, head of retail research at Motilal Oswal Securities.

IT stocks were under pressure today, with TCS, HCL Tech and Infosys falling between 2% and 3%. Other top losers in the Sensex pack included ICICI Bank (-3.2%), HUL(-1.5%), Axis Bank (-1.9%), IndusInd Bank (-2.8%) and Tata Motors (-3.2%).

HDFC Bank and RIL today hit new highs, ending with 1.7% and 1% gains respectively.

Shares of Dabur today fell 4% after the company reported a 6.5% decline in consolidated net profit to 371.5 crore for the quarter ended 31 March. On the other hand, Bandhan Bank ended 4% higher after the lender posted strong Q4 earnings.

02 May 2019, 02:04:43 PM IST

Bandhan Bank reports 68% jump in Q4 net, shares surge 6%

Bandhan Bank Ltd today reported a 67.8% increase in its March quarter net profit due to higher net interest and non-interest income. Net profit for the quarter stood at 651 crore, beating the Street's estimates, up 67.78% from 388 crore a year ago. Analysts expected the lender to report a net profit of 546.30 crore, according to a Bloomberg poll of eight analysts. Shares surged 6% to 630 in afternoon trade.

02 May 2019, 01:58:57 PM IST

RIL, HDFC Bank hit new highs

HDFC Bank shares hit a new high of 2353.40, up around 1.5%, in intraday trade. Reliance Industries shares also rose over 1% to hit a new high of 1,413.75.

02 May 2019, 01:58:57 PM IST

Ashok Leyland shares jump 5%

Shares of commercial vehicle manufacturer Ashok Leyland rose over 5% to 91 in noon trade. ICRA has upgraded the automaker's long-term rating to AA+ (Stable) while reaffirming short-term rating to Al+. Ashok Leyland also reported a 10% jump in domestic sales in April.

02 May 2019, 10:30:40 AM IST

Jet Airways plunges on report bidders not keen to follow up

Shares of Jet Airways Ltd tumbled over 20% to a decade low on Thursday after a media report said bidders for the struggling airline had not yet shown interest in following up on their offers. Three of the four qualified bidders - Etihad Airways, TPG Capital and Indigo Partners - have not signed non-disclosure agreements necessary for conducting due diligence, with just days left now to submit their final bids, the Economic Times newspaper reported, citing sources. The bidders have until May 10 to submit their offers, but stakeholders are not hopeful, the paper said.

02 May 2019, 09:42:41 AM IST

Maruti Suzuki shares fall for 8th day

Shares of Maruti Suzuki (-1.5%) were down for the 8th day in a row after the carmaker reported a decline of 17.2% year-on-year (YoY) in April 2019 sales at 143,245 units.